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Stocks plunged on Monday (10/6/08) open after a deepening financial crisis in Europe heightened worries about a global economic slowdown. European stocks tumbled, sending the Dow Jones Stoxx 600 Index to its steepest drop since 1987, as the yearlong credit market seizure caused bank bailouts to spread and crude’s slump dragged down commodities producers. Europe’s [...]

Let’s be clear: This is a Wall Street crisis, not a national economic crisis. The overall economy, while a bit weak, is still growing. Some politicians are comparing the current environment to the Great Depression. But in 1932, when the federal government last moved to bail out the banking sector, economic output had fallen 45% [...]

Shortly after the House passed the bailout bill, credit markets tightened on fears that the plan won’t be enough to help the failing economy.
The credit markets finally got a bailout bill, but the stranglehold hasn’t let up - a troubling sign that lenders and investors believe the package will only be a baby step in [...]

In making his push to administer the largest federal bailout of Wall Street in history, Treasury Secretary Henry Paulson is seeking unfettered authority. McClatchy poses the question, “Can you trust a Wall Street veteran with a Wall Street bailout?,” referring to Paulson, the former CEO of Goldman Sachs:
But the conflicts are also visible. Paulson has [...]

Wachovia said Friday (10/3/08) it agreed to be acquired by San Francisco-based Wells Fargo & Co. in a $15.1 billion all-stock deal, trumping rival suitor Citigroup’s plan to acquire Wachovia’s banking operations.
A key difference is that the Wachovia deal will be done without government assistance, while the Citigroup deal would have been done with the [...]

This time last week, the biggest bailout in the history of the world seemed to be a fait accompli.  Last weekend, the Fed Chairman and the Secretary of the Treasury had harsh words of doom and gloom for Congressional leaders, with the rest of the administration parroting along, and by last Monday it seemed both [...]

The $700 billion rescue plan just approved by the U.S. Senate won’t fix the core problem with the nation’s ailing financial institutions. And it almost guarantees that you and I will have to pony up for an even costlier bailout that the House of Representatives passed on Friday (10/3/08).
Treasury Secretary Hank Paulson has correctly identified [...]

In less strained times, investors would be cheered to see the US regulators and JPMorgan keep Washington Mutual’s operations going without a break. But they had to chew over two other larger pieces of news.
The first is the inability of US politicians to agree on Hank Paulson’s $700 billion bailout plan. Talks broke up acrimoniously [...]

Despite economic turmoil and the ongoing bailout drama, the greenback has rallied lately. Experts see more gains ahead… but will it be enough to counter inflation?
Stocks and bonds have been whipsawed the past few days as investors try and figure out whether a financial bailout plan will be salvaged and what that will mean for [...]