On the last day of Sept. 2008, one of the wildest, scariest months in U.S. financial history, the Wall Street-Washington roller-coaster starts climbing again.
As events go, Saturday seems more sedate than it has in weeks. But it's a false calm, as Washington scrambles to find common ground on a financial rescue plan.
Pres. Bush goes on TV Thursday and urges Congress to quickly pass a $700 billion rescue package for the U.S. financial system. Key lawmakers say they've reached an agreement, in principle, on the major parts of the plan.
Paulson, Bernanke back on Capitol Hill to sell the bailout. Fed coordinates with Australian and Scandinavian central banks to keep global finance running. Goldman Sachs sells $5 billion in common shares.
Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke head to Capitol Hill to sell the $700 billion bailout plan. Warren Buffett invests $5 billion in Goldman Sachs. WaMu talks to suitors about a takeover.
Euphoria fades Monday as the market digests previous days' events. Japan's Mitsubishi seeks a piece of Morgan Stanley—killing hopes for a Morgan/Wachovia merger. And NYSE adds 30 stocks to the "no short" list.
The Bush administration and Congress step up talks Sunday on an historic $700 billion bank bailout — racing the clock to stem further financial market turmoil.