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Congress Divided on $700 Billion Bailout Plan

By Marina Vialtsina on  From saltlakecityblog.blogspot.com
Daily Real Estate News | September 26, 2008 Congress Divided on $700 Billion Bailout Plan Congressional negotiators resumed meetings on Friday to revive or rework the proposed $700 billion financial bailout plan. On Thursday, the word was that the group of lawmakers were near “fundamental” agreement on the bailout of the U.S. financial sector. But that consensus fell apart Thursday night, with Democrats blaming the House Republicans for the apparent stalemate. Conservatives, however, have...Read Full Story

Market Plunges in Response to House Rejection of Bailout Plan

By JJ Duncan on
The ABC News digital sign in Times Square announces the stock market plunge September 29, 2008 at Times Square in New York City. The market took a plunge after announcements that the House did not pass the $700 billion proposed bailout. (Photo by Rick Gershon/Getty Images North America)  Let's do a little exercise. Take out a piece of paper and a pen. Now draw a wiggly line from the upper left to the lower right. Congratulations, you've just graphed today's stock market. Every measure of...Read Full Story

CHINA TO USA: REFORM YOUR ECONOMY & PROTECT OUR ASSETS

By Tim Tompkins on  From theinvisiblehand.typepad.com
USA GET YOUR ECONOMY IN ORDER & PROTECT OUR ASSETS OR WE WILL SIEZE FORT KNOX On a day when major Headlines read GM, FORD, & CHRYSLER SEEK BAILOUT, little China is flexing its financial muscle.    China lectures US on economy The US was lectured about its economic fragilities on Thursday as senior Chinese officials urged the administration to stabilise its economy, boost its savings rate and protect Chinese investments. The message went to Hank Paulson, the US Treasury secretary, in Beijing...Read Full Story

House Passes $700 Billion Bailout Package -- Ta-da!

By JJ Duncan on
U.S. Speaker of the House Rep. Nancy Pelosi (D-CA) (C) celebrates as she signs the H.R. 1424 Emergency Economic Stabilization Act of 2008 during a news conference as (L-R) Rep. Chris Van Hollen (D-MD), Rep. Barney Frank (D-MA), House Majority Whip Rep. James Clyburn (D-SC), House Majority Leader Rep. Steny Hoyer (D-MD), Rep. Rahm Emanuel (D-IL), and Rep. John Larson (D-CT) look on October 3, 2008 on Capitol Hill in Washington, DC. The House has passed the financial bailout bill 263 171...Read Full Story

DUBYA RESCUES GM & CHRYSLER PAYS $17.4 BILLION for CADILLAC ONE

By Tim Tompkins on  From theinvisiblehand.typepad.com
George W. Bush, I abandoned free-market principles to save GM & Chrysler, handed over $17.4 Billion to the Auto-Makers, Ford said, "No Thanks."  I wonder which stock pick would be the best bet in the long term, Ford? GM? or Chrysler?  HMM . . . that is easy, how about the one with no federal bailout.  The funds are part of the $700 Billion of TARP.  The New York Times label the bailout as a temporary life-line.  Does the NYT know that this is already a failure? WASHINGTON — President Bush...Read Full Story
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WASHINGTON -- A government watchdog says U.S. taxpayers are still owed $132.9 billion that companies haven't repaid from the financial bailout, and some of that will never be recovered. The bailout launched at the height of the financial crisis in...  
From cbs12.com ()
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Sunday's vote followed Prime Minister Lucas Papademos exhorting lawmakers to look at both sides of the issue and make the tough decision to avoid bankruptcy, or otherwise send the world economy into another recession since nearly all the money ...  
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Our friends at Hertiage Action have a great piece out today that looks at CBO data and says that if House Republicans vote for the Highway Bill, they are basically guaranteeing a $54 billion bailout of the Highway Trust fund over the next five years. It’s incredible that anyone would even consider this good policy, let alone conservative. The Club for Growth is advocating that members of Congress vote NO on the Highway Bill and instead call...  
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TOKYO (Reuters) - Japan is set to launch a $13 billion bail-out of the owner of its stricken Fukushima nuclear power plant after the utility dropped resistance to a public fund injection, sources said on Thursday, as the country debates the ...  
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MADRID (AP) -- Spain's financial crisis should not affect Madrid's third consecutive Olympic bid and hosting the games could help the country recover from the recession, leaders of the 2020 candidacy said Monday.  
From news.search.yahoo.com ()
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MADRID (AP) -- Spain's financial crisis should not affect Madrid's third consecutive Olympic bid and hosting the games could help the country recover from the recession, leaders of the 2020 candidacy said Monday.  
From news.search.yahoo.com ()
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Paris, Jan 30 (IANS) French President Nicolas Sarkozy said Sunday that the spiralling financial crisis had subsided as efforts to restore stability in the Eurozone had borne fruit.  
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