Wednesday, September 14, 2011

Morning Brief: Who knew there were wildfires in Minnesota? My nose; two major French banks get downgraded by Moody's; Republican win the 'Twitter' seat

Did you hear about the big wildfires? No, not those in Texas, but the ones in Minnesota? Me neither. But my iPhone let me know yesterday as it showed that there was a special weather alert for my area.
I had been suffering from bad allergies all day yesterday, but chalked them up to the dry, fall weather, and the fact that it looked like neighbors had been burning leaves.

But, no, it wasn't burning leaves that I was smelling, it was wildfires that were occurring over 400 miles away in Minnesota. The air was so bad in Northern Illinois and Southern Wisconsin that the Milwaukee Brewers closed the roof of Miller Park before the game with the Colorado Rockies because of the smoke.

The fire, which is being called the Pagami Creek Fire, started with a lightning strike way back on August 18, but only blew up to be a major fire in the past few days. "Nobody would have guessed it would be doubling and quadrupling in size," Jean Bergerson, a spokeswoman for the Minnesota Interagency Fire Center, told the Associated Press.

Stok markets are up modestly today despite a Moody's downgrade of several of France's largest banks. The ratings for the banks Société Générale and Crédit Agricole were downgraded because of these banks "exposure to the Greek economy and the fragile state of bank financing markets," a New York Times post reads today.

The German DAX, which has taken a severe beating these past couple of months, is actually up over two percent today, now off its 52-week lows.

The Republican candidate won a special election last night in the New York 9th district. Republican Bob Turner won the seat previously held of Anthony Weiner, who was forced to resign his seat due to bad social media protocol.

This message will resound for a whole year," Turner said last night according to USA Today. "We've lit one candle today and it'll be a bonfire."

Great, more fires.