Oct 03 House Passes $700 Billion Financial Bailout Bill By Admin, PBS NewsHour The House of Representatives passed hotly-debated legislation Friday to bail out the troubled financial industry by a 263-171 vote, agreeing to the Senate bill that passed on Tuesday and sending it to the White House for President Bush's signature. Continue reading
Sep 30 President Urges Congress to Take ‘Decisive Action’ on Bailout By Admin, PBS NewsHour 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 29 House Rejects $700 Billion Bailout; Stocks Plummet By Admin, PBS NewsHour 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 In Latest Shake-Up, Citigroup to Acquire Wachovia By Admin, PBS NewsHour In the latest shake-up of the widening global financial crisis, Citigroup will acquire the banking operations of Wachovia Corp. Continue reading
Sep 24 President Calls for Sweeping Government Intervention in U.S. Economy By Admin, PBS NewsHour Warning "our entire economy is in danger", President Bush made a somber address to the nation Wednesday, outlining the need for a sweeping government intervention in the nation's financial system in order to prevent widespread collapse. Continue reading
Sep 24 Watch Bailout Plan Dominates Campaign Trail and Capitol Hill Sens. John McCain suggested delaying Friday's presidential debate amid concerns over the nation's financial crisis as lawmakers sought to reach a compromise on a $700 billion government bailout plan. Kwame Holman reports on the latest news from the campaign trail… Continue watching
Sep 24 Buffett Sinks $5 Billion Into Goldman Sachs By Admin, PBS NewsHour As debate swirled on Capitol Hill over a proposed financial rescue plan, renowned investor Warren Buffett decided late Tuesday to buy a $5 billion stake in embattled Wall Street Titan Goldman Sachs. Continue reading
Sep 23 Watch Lawmakers Pose Tough Questions on Bailout Proposal Federal Reserve chief Ben Bernanke and Treasury Secretary Henry Paulson faced tough questions from skeptical members of Congress Tuesday over a $700 billion financial bailout plan. Kwame Holman reports on the hearings and other developments in the financial crisis. Continue watching
Sep 23 Bernanke and Paulson Urge Congress to Act; Lawmakers Call for More Time By Admin, PBS NewsHour Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson urged Congress to pass a $700 billion financial bailout Tuesday, saying the national economy could suffer more if too much time passes. Continue reading
Sep 22 Watch Congress Struggles With Scope of Financial Rescue Plan The government's $700 billion financial bailout proposal now faces lawmaker approval. Senate finance committee members describe which parts of the plan are stirring debate. Continue watching