Wall Street In Crisis

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    “The Wall Street mess will now have collateral damage to the real economy,” says Steve Hanke, a former White House economist. “We're coming into this thing in a terrible situation.”

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    Investors survived the first trading day of the Wall Street financial crisis, but many remained worried about what happens next.

  • Federal Reserve

    Don't expect the central bank to cut interest rates on Tuesday at its regularly scheduled FMOC meeting following the Lehman Brothers-Merrill Lynch-AIG developments, even though that's the action it took in March when Bear Stearns was on the ropes.

  • Financial markets are widely expecting the Federal Reserve to cut interest rates today, but they may not get their wish.

  • The Federal Reserve, meeting during an unprecendented crisis on Wall Street, decided to leave interest rates unchanged but expressed concern about the crisis escalating.

  • Wall Street In Crisis - A CNBC Special Report

    But late news of possible deals involving Morgan Stanley and Washington Mutual might help ease market jitters on Thursday.

  • Henry Paulson

    Treasury Secretary Henry Paulson is working on a plan that would set up a government facility to take on bad debts from financial institutions, preventing a worsening of the global credit crisis, Wall Street sources have told CNBC.

  • Federal Reserve

    In the financial services industry of the future, too big to fail may be both a bigger understatement and bigger possibility than today – and at no small cost.

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    A proposal to help financial institutions shed their bad debts sparked a big rally on Wall Street, but it was unclear whether the move was a turning point in the credit crisis.

  • Henry Paulson

    The plan to create a massive facility to buy mortgage-backed securities could cost as much as a half-trillion-dollars and would involve the purchase of both private-label and government-guaranteed mortgages.

  • NYSE Traders

    The U.S.  launched several multibillion-dollar programs to rescue financial markets while developing a more sweeping plan to mop up toxic mortgage debt

  • The U.S.  launched several multibillion-dollar programs to rescue financial markets while developing a more sweeping plan to mop up toxic mortgage debt

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    A $700 billion financial rescue plan was sent to Congress Saturday, and Democrats moved quickly to propose changes—including possible help for homeowners and a salary cap for CEOs.

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    Bush aides and Congress stepped up talks on a $700 billion bank bailout as they battled the clock to prevent further market turmoil.

  • The  $700 billion financial rescue plan bears little resemblance to the  savings and loan bailout almost two decades ago—and may not be as successful, experts say. First and foremost, there’s no accompanying re-regulation of the financial services industry.

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    The decision of Morgan Stanley and Goldman Sachs to become bank-holding companies will not mean any change in their investment banking and trading operations, according to a top industry analyst

  • WALL STREET IN CRISIS - A CNBC SPECIAL REPORT

    As the credit crunch deepens, it's  putting more private student loan companies out of business and leaving fewer students  able to qualify.

  • Wall Street

    Not everybody on Wall Street is a millionaire, and as the turmoil in the markets spreads, it is as much a pandemic of the everyman as it is of the Hamptons set.

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    Having trouble understanding the Wall Street rescue plan? Think of it in terms of some popular TV shows: "Who’s the Boss?" "Deal or No Deal" and "Jeopardy."

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    The fate of a Wall Street bailout remained unclear as a White House meeting of both parties ended without an agreement and some participants said a deal may even be dead.