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News & UpdatesNovember 22, 2008 Treasury yields bounce back as stocks recoverBy: MSN Money Treasury yields rebounded Friday from multi-decade lows, but there was little sense that the turbulence slamming the credit markets was anywhere near an end. Investors exited Treasurys and bought up stocks after Thursday's sharp... November 22, 2008 Congressional Leaders Vow Support for Carmakers  By: The New York Times A day after declaring that American auto executives had failed miserably in making their case for federal aid, House Speaker Nancy Pelosi sought to encourage them on Friday, saying that “we don’t have any intention of seeing the... November 22, 2008 Obama picks Geithner for Treasury-NBC By: Reuters President-elect Barack Obama has selected Timothy Geithner as Treasury secretary, charging the respected head of the New York Federal Reserve with pulling the United States out of an economic nosedive, NBC news reported on... November 22, 2008 Coal industry, utilities ponder future under ObamaBy: Chicago Tribune Bill Raney considers coal golden. After all, the black rock fuels half of the nation's electrical generation. But the West Virginia Coal Association's president and others in the industry say they've received mixed messages about... November 22, 2008 Citi Works to Assure InvestorsBy: Washington Post A defiant Citigroup proclaimed itself in good health yesterday even as its stock price completed a one-week, 60 percent swan dive, highlighting renewed investor concern about the long-term prospects of the nation's largest banks.... November 21, 2008 Democrats Ask Automakers for Way ForwardBy: New York Times Democratic Congressional leaders on Thursday said that the executives of America’s foundering automakers had failed miserably in persuading Congress or the public that $25 billion in aid from the government would be well-spent... November 21, 2008 Falling Prices Raise a New Fear: DeflationBy: The Washington Post With the stock market crumbling and the economy shrinking, a whiff of deflation is in the air. Oil prices yesterday slid below $50 a barrel to the lowest level since May 2005; stores are advertising sales on the eve of what... November 20, 2008 Comptroller Dugan Says CRA Not Responsible for Subprime Lending AbusesBy: MarketWatch Comptroller of the Currency John C. Dugan said he categorically disagrees with suggestions that the Community Reinvestment Act is partly responsible for the ongoing credit crisis. November 20, 2008 White House Urges Senate Vote on Republican Auto Aid ProposalBy: Bloomberg.com The Bush administration called on Congress to break its deadlock on a plan to bail out the Big Three automakers, saying a Republican measure would pass if put to a vote. Senate Majority Leader Harry Reid has refused to set aside... November 20, 2008 GMAC Applies for Status as Bank, Begins Debt SwapBy: Bloomberg.com -- GMAC LLC, the largest lender to General Motors Corp. car dealers, has applied for status as a bank holding company so it can get access to the Treasury's $700 billion rescue fund for the financial industry.
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