Media Digest 8/28/2007 Reuters, WSJ, NYTimes, FT, Barron’s

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According to Reuters, State Street (STT) faces $22 billion exposure to asset-backed commercial paper conduits, the off-balance sheet vehicles that have caused problems for rivals in recent weeks.

Reuters writes that social networks are drawing new investors as Classmates.com and Bebo.com consider IPOs.

The Wall Street Journal expects that Nasdaq (NDAQ) will have trouble selling its stake in the London Stock Exchange.

The Wall Street Journal writes that HP (HPQ) is coming out with new printers to offset the sharing of documents and photos over the internet.

The New York Times writes that Macau is passing Las Vegas as the work capital of gambling as companies like Wynn and MGM Mirage open casinos there.

The FT writes that credit card defaults are rising in the US.

Barron’s writes that Citi has dropped its rating on AMD (AMD).

Douglas A. McIntyre