MILWAUKEE, Wis.— Taking a bullish stand on the economy, President Barack Obama is renewing his call for an increase in the minimum wage, looking to give Democrats an issue on which to campaign going into November's midterm congressional elections.» Read More
The Association of Financial Professionals (AFP) has released a report detailing how finance executives have taken defensive measures to deal with the credit crunch. (AFP is a membership organization that serves more than 16k corporate treasury and finance executives.)
Many Americans watching the vice presidential candidates' debate agreed that Gov. Sarah Palin's performance exceeded their generally low expectations. Whether she did well enough against Sen. Joe Biden is another matter.
The Senate has passed the Emergency Economic Stabilization act with 74 to 25 vote. The mix was 40 Democrats and 34 Republicans for the measure and 10 Democrats and 15 Republicans against it.
The process to produce the Treasury Asset Recovery Plan from the US House has moved forward in the Senate. They have wisely remained it the Emergency Economic Stabilization Act of 2008, something I believe/suggested would help sell it to Main Street.
Alaska Gov. Sarah Palin portrayed herself Tuesday as a champion of everyday people while noting her family's stock portfolio took a $20,000 hit last week.
One of the more challenging parts of my job is getting "Man on the Street" interviews. I'm just not that good at walking up to strangers to a) convince them to talk to me, and b) get something interesting out of them.
It's important to understand the political dynamics of what occurred yesterday to gauge what will happen with the US Treasury's TARP plan going forward. The key was getting 100 Republican votes.
Democratic leaders pledged to try to put together another financial rescue bill, but it was unclear whether there was enough support for even a revised plan. Watch the accompanying videos to watch how the lawmakers reacted during the press conferences after the house rejected the bailout bill:
A number of Republican House members and staff, along with others who are plugged in, are telling me that Nancy Pelosi and the Democrats will come back with a new bill that includes all the left-wing stuff that was scrubbed from the bill that was defeated today in the House.
This is an embarrassment to both Democrat and Republican leadership. House Republicans will be vilified in the press with headlines like "Dow Drops 700 Points As Republicans Don't Pass Bailout Plan."
The House defeated a $700 billion emergency rescue package on Monday, ignoring pleas from President Bush and congressional leaders to bail out the financial industry. Watch the accompanying videos to hear what some congressmen and senators said about the bailout plan.
As we watch the TARP support unravel in an ugly way on Capitol Hill, the situation is closely resembling the core structure of every successful television show from "House" to "Baywatch." Let's run through this 4 act comedy/drama.
With just hours to go, Americans waited for word on whether John McCain would show up for Friday's scheduled debate against Barack Obama, a widely anticipated showdown that has been cast in doubt by U.S. financial chaos and extraordinary political maneuvering.
Not surprisingly, Americans are still down on the economy, according to the latest CNBC survey, with 93 percent of respondents describing it as poor or fair. But, in light of the Wall Street problems on the front page, there are signs that sentiment has bottomed. Nowhere is that more apparent than the huge jump in expectations that the economy will get on track in the next year.
The economic crisis and raw politics threatened to derail the first presidential debate as John McCain challenged Barack Obama to delay the Friday forum and join forces to help Washington fix the financial mess. Obama rebuffed his GOP rival, saying the next president needs to "deal with more than one thing at once."
It's clear now that the bill will have clauses restricting executive compensation, partial ownership of some of the companies where there is significant purchasing of securities, and some kind of mortgage mitigation.
Volatility with no volume. That's what we got today. The Dow swung in a 600 POINT RANGE, but volume was about half what it was at the end of last week.
Miracle of miracles! Congress appears to be moving quickly on the Treasury bill. Rep. Barney Frank said that Treasury was accepting an equity stake in companies as part of the plan.
Republican presidential candidate John McCain on Tuesday called for a high-level commission to study the current economic crisis and claimed that a corrupt and excessive Wall Street had betrayed American workers.