SNAPSHOT - Financial Crisis - 2115

NEWS - Obama urged to shape new economic order - Grim U.S. jobs, services data greet president-elect - US mortgage applications slump to 8-year low - U.S. House seeks quick economic stimulus package - General Motors set to announce "important changes" - Pacific Rim nations meet on crisis, G-8 an issue - Finance ministers to meet Nov. 13 ahead of G20 - Brown urges UK banks to pass on interest rate cuts - German cabinet approves 50 billion euro growth plan - Italy readies bank plan, UniCredit boosts lending - Swiss up deposit insurance, set tough capital rules - Euro banks spread gloom as profits, forecasts fall - Key bank-to-bank lending rates hit 5-month lows - Britain, euro zone rate cuts expected this week MARKETS - US stocks plummet on data, Dow drops 5 percent - Oil falls 7 pct, on US demand drop, stock build - US bond insurers post further losses, shares drop - Fannie Mae sells $2 bln bills at lower rates - Dollar trims gains after US services ISM QUOTES "We need to change the current crisis into a new opportunity. We need a new deal for a new world." - European Commission President Jose Manuel Barroso. "The knee-jerk complacency rally in Asia to an Obama win is likely creating an opportunity to sell. The bottom line is economic fundamentals in the U.S. are deteriorating faster than the market can keep up with. And there is very little an Obama administration can do to shield Asia from the effects of this downturn." - Kirby Daley, Newedge Group in Hong Kong. "It's growing clear that the recession is going to have a shelf life unlike the last recessions in both scope and duration." - Doug Kass, founder and president of hedge fund Seabreeze Partners Management. "The surveys continue to show record pessimism. Sentiment has continued to deteriorate and it's obviously bad news for the economy in the fourth quarter." Guillaume Menuet, economist at Merrill Lynch in London. "It's a vote for change and has to inject a degree of optimism that America can again reinvent itself." - Rob Henderson, head of market economics with National Australia Bank in Sydney. EVENTS Thursday, Nov 6 WASHINGTON - Freddie Mac issues weekly U.S. mortgage rates. JAKARTA - Bank Indonesia Board of Governors; meeting FRANKFURT - ECB Governing Council meeting, followed by interest rate announcement 1245 GMT. LONDON - BoE MPC announces interest rate decision 1200 GMT REYKJAVIK - Icelandic central bank publishes Monetary Bulletin 2008/3 (Compiled by World Desk, Washington, ++ 202 898 8457) Keywords: SNAPSHOT Financial Crisis 2115 COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved.

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