Wall Street In Crisis

  • Unemployment Line

    Now, with a deal on the financial bailout expected soon, let's get back to the real economy—and the recession already in progress.

  • The White House cited "significant progress" in the financial bailout but it was unclear if a deal would be reached by the time lawmakers meet with Bush this afternoon.

  • Democratic leaders in Congress want to throw a lifeline to homeowners, not just Wall Street. Do you agree?

  • OK, Frau Wadhwa has ALWAYS been a great fan of our very own Rick Santelli (hey, even my Mum loves him and that HAS to count for something!)... And throughout this crisis that has mushroomed into a very nasty nuclear cloud before us, I have always maintained -- and often said so on-air and off! -- that good old Rick is one of the few voices of common sense and reason in the markets and on our very own channel. Today's performance and outburst from the market pit once again proved that to me with a vengeance!!!!

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    As Wall Street tries to survive the credit crunch, business schools are planning their own rescue plans: tinkering with their curricula and preparing students for a different job landscape

  • A strongly worded memo from Democrats obtained by CNBC blasts an alternative bailout proposal from House Republicans, saying it would amount to "a true bailout of Wall Street fat cats."

  • A strongly worded memo from Democrats obtained by CNBC blasts an alternative bailout proposal from House Republicans, saying it would amount to "a true bailout of Wall Street fat cats."

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    Lawmakers geared up to vote Monday on creating a $700 billion government fund to buy bad debt and alleviate the financial crisis while European regulators scrambled to save two struggling banks.

  • Treasury issued the following statement by Secretary Henry M. Paulson, Jr. on the Emergency Economic Stabilization Act of 2008.

  • Global Credit Crisis

    The credit markets were thrown into further turmoil Monday after the House rejected the government's proposed financial bailout plan

  • Henry Paulson

    During its weeklong deliberations, Congress made many changes to the Bush administration’s original proposal to bail out the financial industry, but one overarching aspect of the initial plan that remains is the vast discretion it gives to the Treasury secretary, says the New York Times.

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    Congress pledged to hammer out a revised financial bailout proposal, but it was unclear how much support any new plan would get.

  • In a 228 to 205 vote, the U.S. House of Representatives defeated a $700 billion emergency rescue package, ignoring urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.

  • 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.

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    Global stock markets braced for a sharp declines on Tuesday, with Asian markets sharply lower, after the House's rejection of a $700 billion financial bailout sparked a broad selloff in the US.

  • In the wake of Congress's rejection of a rescue package for financial markets, should the Federal Reserve cut the Federal Funds rate?

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    As Congress tries again to pass a financial rescue plan, the question remains whether a bailout is actually needed—and if so, what are the options.

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    Two weeks after Lehman spiraled into bankruptcy, hedge funds that did business with the Wall Street bank are still fighting to get their money out of the firm. For some, it has become a life-or-death struggle, the New York Ties reports.

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    The bailout bill that President Bush quickly signed into law on Friday must do what financial experts have been unable to do for the last year — put a dollar value on mortgage-related assets that no one wants, reports The New York Times.

  • The Internal Revenue Service has taken steps to help ease the credit crisis by allowing corporations to ramp up their use of tax-free loans from overseas subsidiaries, The New York Times reports.