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!!!!
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."
Treasury issued the following statement by Secretary Henry M. Paulson, Jr. on the Emergency Economic Stabilization Act of 2008.
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.
In the wake of Congress's rejection of a rescue package for financial markets, should the Federal Reserve cut the Federal Funds rate?
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.