The Federal Reserve announced today a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy. ...more

October 7, 2008

the largest one-day point drop - before recovering to close with a loss of 370, a 3.6 percent drop. The catalyst for the selling, which also took the Dow below 10,000 for the first time in four years, was investors' growing despair that the spreading credit crisis will take a heavy toll around the world. ...more

October 7, 2008

Wall Street suffered through another extraordinary and traumatic session Monday, with the Dow Jones industrials plunging as much as 800 points - their largest one-day point drop - before recovering to close with a loss of 370. The catalyst for the selling, which also took the Dow below 10,000 for the first time in four years, was investors' growing despair that the spreading credit crisis will take a heavy toll around the world. ...more

October 6, 2008

George Bush has been in office for seven and a half years. The first six the economy was fine. Okay, he's president but he is not the dictator of what occurs in the U.S.A. We have a "checks and balance" system: Congress, Supreme Court, president. A little over a year ago, consumer confidence stood at a two and a half percent higher, regular gas sold for $2.19 a gallon, the unemployment rate was 4.5 percent, the Dow Jones hit a record high of 14,000-plus, Americans were buying new cars, taking cruises, vacations overseas and living large. But, America wanted change, so in 2006 they voted in a Democratic Congress and yes, we got change all right! In the past year consumer confidence has plummeted, gas is now over $4 a gallon and climbing, unemployment is up to 5.5 percent (10 percent increase,) Americans have seen their home equity drop by $12 trillion and prices are still dropping. One percent of American homes are in foreclosure, the Dow is probing another low, and $2.5 trillion has evaporated from their stocks, bonds and mutual funds investment portfolios. Yes, in 2006 American voted for change and we sure got it. ...more

October 3, 2008

Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief. ...more

September 30, 2008

The fallout from the vote against a bailout package for the U.S. financial system may well dig deep into the economy. ...more

September 30, 2008

WASHINGTON - Congressional leaders labored Tuesday to find out how many changes are needed to sell the defeated $700 billion financial system rescue to rank-and-file members. ...more

September 30, 2008

Wall Street's worst fears came to pass Monday when the government's financial bailout plan failed in Congress and stocks plunged precipitously - hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market's angst, froze up further amid the growing belief that the country is headed into a spreading credit and economic crisis. ...more

September 30, 2008

In a stunning vote that shocked the capital and worldwide markets, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it. ...more

September 30, 2008

The House today defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry. ...more

September 29, 2008