Sep 30 President Urges Congress to Take ‘Decisive Action’ on Bailout By Admin, PBS News Hour Stocks opened higher Tuesday morning, but financial markets remained troubled a day after the House voted down a $700 billion rescue plan for the financial sector that the Bush administration and congressional leaders had agreed was necessary. Continue reading
Sep 30 Which was the only stock in the S&P 500 to go up yesterday, according to Bloomberg.com? Paul Solman: Rhetorical question, posed by myself: Which was the only stock in the S&P 500 to go up yesterday, according to Bloomberg.com? Answer: Campbell, the soup company. If the goals of the Conquistadors in the “New” World… Continue reading
Sep 29 Watch Rescue Bill Failure Shocks Wall Street The House defeated a $700 billion rescue package Monday, causing serious turmoil on Wall Street. A panel of reporters discuss the implications of the rescue rejection. Continue watching
Sep 29 With the world shifting under our feet, a response to the day’s record events. Paul Solman: With the world shifting under our feet as I write (2 pm), today’s question came from the editor of The Business Desk, who asked for a response to the events of the second: Dow down 500+ (and I… Continue reading
Sep 29 House Rejects $700 Billion Bailout; Stocks Plummet By Admin, PBS News Hour The House on Monday defeated a $700 billion emergency rescue package, ignoring pleas from President Bush and bipartisan congressional leaders to bail out the financial industry, while the Dow Jones industrial average lost more than 700 points. Continue reading
Sep 29 Could property prices be temporarily “set” at the value of the total mortgage on the property? Question/Comment: If real estate is indeed the basis of our current economy, surely we cannot let it free fall. Could property prices be temporarily “set” at the value of the total mortgage on the property? And on any new property… Continue reading
Sep 29 In Latest Shake-Up, Citigroup to Acquire Wachovia By Admin, PBS News Hour In the latest shake-up of the widening global financial crisis, Citigroup will acquire the banking operations of Wachovia Corp. Continue reading
Sep 26 Watch Largest Bank Failure in U.S. History Preempts Any Bailout Plan Another blow was dealt to the ailing American finance system as Washington Mutual Bank was seized overnight by the U.S. government. By morning its assets were sold off to JPMorgan Chase. Business reporters detail the sudden and drastic move. Continue watching
Sep 26 Watch Kwame Holman Reports on Financial Woes Preceding Debates Lawmakers have not been able to agree on a plan with the White House, nor with each other, choosing not to enact a bill for the near future. NewsHour correspondent Kwame Holman discusses the dealings on Capitol Hill. Continue watching
Sep 26 Bush Struggles to Unite Rebelling House Republicans on Bailout By Admin, PBS News Hour As Washington struggles to reach consensus on a proposed Wall Street bailout, GOP senators have blocked a proposed Democratic plan to pump $56 billion into public works projects, help for the jobless and to help states with high Medicaid bills. Continue reading