October 15, 2008

Bernanke Says U.S. Economy Won't Rebound `Right Away'

By: Bloomberg

Federal Reserve Chairman Ben S. Bernanke said government efforts to calm financial markets and stem the credit crisis probably won't result in an immediate economic rebound. "Stabilization of the financial markets is a critical...

October 15, 2008

Actions to Protect the U.S. Economy Statement by US Treasury Secretary Henry M. Paulson, Jr

By: U.S, Treasury

Washington, DC-- America is a strong nation. We are a confident and optimistic people. Our confidence is born out of our long history of meeting every challenge we face. Time and time again our nation has faced adversity and time...

October 15, 2008

FDIC Announces Plan to Free Up Bank Liquidity -- Creates New Program to Guarantee Bank Debt and Fully Insure Non-Interest Bearing Deposit Transaction Accounts

By: Federal Deposit Insurance Corporation (FDIC)

The Federal Deposit Insurance Corporation (FDIC) announces a new program—the Temporary Liquidity Guarantee Program—to strengthen confidence and encourage liquidity in the banking system by guaranteeing newly issued senior...

October 15, 2008

Treasury Announces TARP Capital Purchase Program Description

By: U.S. Treasury Department

Washington- U. S. Treasury has announced a voluntary Capital Purchase Program to encourage U.S. financial institutions to build capital to increase the flow of financing to U.S. businesses and consumers and to support the U.S....

October 15, 2008

Treasury's Bold Bid To Free Up Lending; $250B Infusion Aims To Unfreeze Credit Markets

By: USA TODAY
Sue Kirchhoff and Barbara Hagenbaugh

WASHINGTON -- The Treasury Department's extraordinary announcement Tuesday that it will buy as much as $250 billion in stock to shore up the nation's banking system is designed not to undermine free-market capitalism -- but to...

October 15, 2008

THE FINANCIAL CRISIS / TIMES/BLOOMBERG POLL; Stricter Business Controls Sought

By: Los Angeles Times
David Pierson, Times Staff Writer

Ian Bagley thinks he pays too many taxes, says welfare rolls need to be reduced and believes the private sector usually does a better job than the public sector. But after watching the housing market collapse and the stock...

October 15, 2008

Are States Next In Line For Federal Bailout?

By: Christian Science Monitor
Daniel B. Wood Staff writer of The Christian Science Monitor

How California fares with a $4 billion short-term bond sale this week will help answer a key question looming over the current US financial crisis: are traditional credit markets so frozen that states won't be able to raise...

October 15, 2008

THE FINANCIAL CRISIS / FINANCE; Capital Infusion Plan Is Promising But Not Perfect

By: Los Angeles Times
Maura Reynolds, Jim Puzzanghera, Times Staff Writers

The Bush administration's sweeping new plan to pump $250 billion directly into U.S. banks promises to be a faster, easier, simpler and more direct way to revive the nation's prostrate financial system, but it also sets the stage...

October 15, 2008

Companies Cut Investment In Tough Times; Credit Crunch Key, But Even Cash-rich Firms Reluctant To Spend Now

By: Investor's Business Daily
REINHARDT KRAUSE

Corporate America is putting the brakes on capital spending.

If investment screeches to a stop, that could intensify a recession, economists say. That's because capital spending is a big driver of economic growth.

Companies have...

October 15, 2008

ECONOMY

By: Investor's Business Daily

Volcker: U.S. is in a recession

Ex-Fed chief Paul Volcker said the economy is in a recession and that the housing sector faces more losses. "The first priority is to stabilize the financial system," he said. "It is necessary...