Each depository institution can maintain zero reserves against its transaction accounts? You put it right there in writing! Sure you buried it across three bills, but you are now allowing for the possibility that banks can hold zero reserves!
Securities regulators and accounting rule-makers granted banks greater power to decide the value of their investments, even if market data suggest that prices should be lower to allow banks to report smaller losses, perhaps comforting investors.
The S.E.C. said it was interpreting, not changing, the mark-to-market rule. Nonetheless, the immediate praise from the bankers could reduce the pressure to drop the rule and make it easier for legislators to change their votes.
“Whatever happened to the modern followers of my free-market opponents?” Marx would likely wonder if he were to rise from the dead today.
Leaders of the Senate, where most members have indicated support for the bailout plan, said they would seek a vote on a revised rescue package Wednesday night.
It is the crudest Keynesianism to view the Paulson Plan as an injection of capital or "liquidity." That money has to come from somewhere. If it is taxed or borrowed, then it is just a shell game.
ATLANTA, Sept 30 (Reuters) - The failure of a massive Wall Street bailout bill and a steep fall in the stock market was a price worth paying to stand up for principle, some conservatives said on talk radio shows on Tuesday.
The U.S. Senate will try to salvage a $700 billion financial-rescue package after the measure was defeated in the House of Representatives. The lawmakers won't have a lot of room to negotiate.
President Bush took to the podium again this morning in an attempt to salvage his endangered financial rescue package, warning lawmakers that the United States will face a "painful and lasting" economic downturn if they do not approve a bai
"There's an overarching belief that at some point this week, whether it's Wednesday or Thursday, we'll get something passed by the House," said Arthur Hogan, chief market analyst at Jefferies & Co in Boston.
The collapse of the proposed rescue plan for the teetering financial system was the product of a larger failure — of political leadership in Washington — at a moment when the world was looking to the United States to contain the cascading economic cr
Americans fail to understand that they are facing the real prospect of a decade of little or no economic growth because of the bursting of a credit bubble that they helped create and that now threatens to bring down the global financial system.
With Election Day a little more than a month away, many lawmakers appeared to pay greater heed to their constituents than to their party leaders. [oh, for shame]
Funny, I don't remember hearing about this on the LameStream Media?
There's good reason to be euphoric - and wary - about the success in turning back the Billionaire Bailout. A bright, shining day...
Taxpayers are already on the hook for the failures of financial institutions, and it's possible that the bill will actually be larger without bailout legislation than with it. That's because the regulators who mind the financial industry - th
Not every homeowner with negative equity will default, in fact many of these homeowners will only be underwater by a few percent. But if we estimate one half of homeowners with negative equity will eventually default...
Despite opinion polls showing that the public was warming to the idea of a rescue plan – and efforts by congressional leaders on both sides of the aisle to round up support – the measure failed (do you feel like you are being set up?)
History of the United States National Debt: An Analysis of the Presidents Who Are Responsible for the Borrowing - By Steve McGourtyEntered By: Powell Gammill
H R 3997 Vote description: To Amend the Internal Revenue Code of 1986 to Provide Earnings Assistance and Tax Relief to Members of the Uniformed Services, Volunteer Firefighters, and Peace Corps Volunteers, and for Other Purposes (What?)
In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, leaving both parties and the Bush administration struggling to pick up
(Click on the small colored boxes to see how your individual congressman voted - Arizona congressmen are holding out for a much larger severance package)
For the first time the CAFR1 site through its ISP server crashed. The tech-team of the ISP could not figure out why this happened. As of this writing the ISP still has not brought up the complete functionality. What CAFR1 article in most probability
"The legislation may have failed; the crisis is still with us," said House Speaker Nancy Pelosi, D-Calif., in a news conference after the defeat of the $700 billion bailout plan.
The package will surely pass in the next few days, since the alternative would be the failure of every leading bank in America, the inability of the US Government to honor its guarantees and the bankruptcy of many large US corporations,
"$700 billion is a drop in the bucket" [Isn't this what Ernie has been saying?"]
Fear swept across the financial markets Monday, sending the Dow Jones industrials down as much as 705 points, after the government's financial bailout package failed the House. [Who will betray us and switch their vote?]
Do you feel that? For a brief moment in time you can actually feel value going in to your wallet!
There’s no time to hold hearings on the proposed $700-billion bailout, but surely they’ve all got an hour or two to answer a few questions. Here are six, in fact, each easily answerable in 10 minutes or less.
Section-by-section breakdown of the "Emergency Economic Stabilization Act of 2008," otherwise known as the $700 billion Wall Street bailout bill. The 106-page bill established sweeping powers for Treasury Secretary in carrying out what the