A writefree. Production
Title WaMu's Deposits Seized by Regulators at
JPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to acquire the deposits of Washington Mutual Inc. as the thrift was seized by regulators in the biggest bank failure in U.S. history.
JPMorgan will pay $1.9 billion, the Federal Deposit Insurance Corp. said in a statement today. It won't acquire liabilities including claims by equity, subordinated and senior debt holders, the FDIC said.
WaMu, based in Seattle, collapsed after its credit rating was slashed to junk and potential suitors passed on making a bid. Facing $19 billion of losses on soured mortgage loans, the lender put itself up for sale last week. WaMu in March rebuffed a takeover offer from JPMorgan that WaMu valued at $4 a share.
``JPMorgan is getting a steal compared with what they were going to pay,'' said Scott Adams, a pension and investment analyst at the American Federation of State, County and Municipal Employees in Oakland, California, which owns WaMu shares. ``It's very tragic.''
Crisis Deepens as Big Bank Fails - WSJ.com
... that helped fuel the housing boom, was seized Friday by federal regulators, in ... collapse is expected to cost the Federal Deposit ... 5. WaMu's Rescue Effort Gets a Boost
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Cached
Washington Mutual shares end erratic session lower
... its retail franchise to the West Coast, where WaMu's deposit ... In addition, 11 retail banks have been seized by the ... Federal banking regulators, who ratcheted up their scrutiny ...
more ...
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IndyMac Bank seized by federal regulators | MetaFilter
IndyMac Bank seized by federal regulators July 11, 2008 4:25 PM Subscribe ... I'm looking at WaMu's rates right now, and they're ... non-borrowed deposits at US banks...had gone into ...
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WaMu stock takes a wild ride
... its retail franchise to the West Coast, where WaMu’s deposit ... In addition, 11 retail banks have been seized by the ... Federal banking regulators, who ratcheted up their scrutiny ...
more ...
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Cached
WaMu shares end lower despite talk of buyout
... its retail franchise to the West Coast, where WaMu's deposit ... In addition, 11 retail banks have been seized by the ... Federal banking regulators, who ratcheted up their scrutiny ...
more ...
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Cached
Reports: Feds to seize WaMu; JPMorgan to buy deposits, branches
Washington Mutual, the nation's biggest savings and loan, may be seized by regulators tonight and JPMorgan Chase & Co. may buy WaMu's deposits and branches, according to news reports. If confirmed, it would rank as one of the biggest banking failures ...
more ...
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Source: USA Today Blogs
NewsDateTime: 53 minutes ago
End is near for WaMu, reports say
Morgan to acquire most of the deposits and branches of Washington ... CNBC reported late this afternoon that federal regulators will take ... deal, including how much JPMorgan would pay and which of WaMu's $309.7 billion in assets would be seized by ...
more ...
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Source: Seattle Times
NewsDateTime: 1 hour ago
JPMorgan Buying WaMu Deposits, Assets
Federal regulators have been heavily involved in orchestrating the transaction, which comes as WaMu was besieged by a ... Morgan's acquisition of WaMu's deposits wasn't immediately known, except that the New York bank, which has long coveted WaMu as ...
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Source: Smart Money
NewsDateTime: 53 minutes ago
Report: JPMorgan to buy Washington Mutual deposits
Washington Mutual Inc. may be seized by regulators later today and parts sold to JPMorgan ... to the CNBC television network, and New York-based JPMorgan will buy deposits ... WaMu's fate played out as Congress tried to reach an accord that will ease the ...
more ...
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Source: Newark Star-Ledger
NewsDateTime: 1 hour ago
Washington Mutual on JPMorgan's menu
Washington Mutual may be seized by regulators later today and parts sold to JPMorgan Chase ... to the CNBC television network, and New York-based JPMorgan will buy deposits ... WaMu's fate played out as Congress tried to reach an accord that will ease the ...
more ...
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Source: The Age
NewsDateTime: 53 minutes ago
he lender is the latest victim of a credit crunch that forced Lehman Brothers Holdings Inc. into bankruptcy, drove Merrill Lynch & Co. to sell itself to Bank of America Corp. and brought about the Federal Reserve-financed purchase of Bear Stearns Cos. by JPMorgan. Treasury Secretary Henry Paulson's $700 billion plan to prop up the U.S. banking industry by buying distressed mortgages wasn't enough to save the company.
WaMu had about 2,300 branches and $182 billion of customer deposits at the end of June. Its $310 billion of assets dwarf those of Continental Illinois Corp., previously the largest failed bank, which had $40 billion ($83 billion in 2008 dollars) when it was taken over in 1984.
Option ARMS
WaMu has fallen 95 percent in 12 months on losses tied to subprime lending and lost $6.3 billion in the past three quarters. It kept skidding even after joining a list of financial companies the U.S. Securities and Exchange Commission protected from short selling in an effort to stabilize stock markets.
WaMu was the second-biggest provider of option ARMs, behind Wachovia, with $54 billion held in its portfolio in the first quarter, according to Inside Mortgage Finance. Of the $230 billion in loans secured by real estate at the end of the second quarter, $16.9 billion were subprime mortgages. WaMu, which ranked sixth among U.S. mortgage companies last year, was the 11th-biggest subprime lender in 2006, according to Inside Mortgage Finance.
JPMorgan, Citigroup Inc., Wells Fargo & Co., Banco Santander SA and Toronto-Dominion Bank had all expressed interest in buying all or parts of WaMu, according to a person familiar with the matter. WaMu also approached Carlyle Group and Blackstone Group LP, two people briefed on the matter said.
WaMu estimated losses of as much as $19 billion in the next 2-1/2 years. Standard & Poor's cut the bank's credit rating twice in nine days as chances decreased that any deal wouldn't be a buyout of the whole company, leaving creditors of the holding company to face substantial losses.
Videos from YouTube
Title: WaMu Struggles As Lehman Looks for Lifeline
Categories: News,struggles,wamu,lifeline,lehman,washington,mutual,
Published on: 9/11/2008 3:31:38 PM
Title: WaMu Looking for Buyer
Categories: News,buyer,wamu,washington,mutual,
Published on: 9/19/2008 6:37:29 PM
Title: Wamu Commercial!
Categories: dudes,old,lol,Entertainment,lame,joke,wamu,washington,mutual,commercial,
Published on: 3/18/2007 9:13:19 PM
Title: banking another way
Categories: Entertainment,way,banking,another,
Published on: 2/15/2007 9:13:18 PM
Title: Washington Mutual Advertisement
Categories: power,lending,Comedy,home,washington,commercial,mutual,funny,loans,money,banks,comedy,advertisement,
Published on: 8/9/2006 7:25:50 PM
Thursday, September 25, 2008
McCain shuts down the Wall St bailout
A writefree. Production
Title McCain shuts down the Wall St bailout at
Title McCain shuts down the Wall St bailout at
Crisis Mounts:Lawmakers split over bailout
A writefree.blogspot.com/feeds/posts/default Production
Chaos erupted on Thursday in the negotiations over the proposed financial bailout as lawmakers bickered over competing counterproposals to the Bush administration's $700 billion rescue plan. A meeting at the White House between President Bush, congressional leaders and the presidential candidates was meant to speed approval of an agreement, but instead revealed deep divisions between Democrats and Republicans. Earlier in the day, congressional negotiators said they had agreed to a set of principles on revisions to the rescue plan, which calls for the Treasury Department to buy up bad mortgage securities from banks in an effort to get them to lend again. The proposal will help homeowners, curb executive pay packages at participating firms and provide oversight of Treasury's actions, said Sen. Christopher Dodd, D-Conn., a key architect of the congressional effort, in a lunchtime address. "We've reached a fundamental agreement on a set of principles, one, for taxpayers, which is tremendously important," he said. "We're very confident we can act expeditiously." Details on the plans The principles call for Congress to make $250 billion available immediately with $100 billion available, if needed, without requiring additional congressional approval, said two senior Democratic aides familiar with the negotiations. The second half of $350 billion would then become available by a special approval of Congress. On executive compensation, the draft would require limits on compensation for executives of any company participating in the bailout. These caps would apply for as long as the company is in the program. This would include some language to limit excess "golden parachutes." Treasury will also get an equity stake in the companies being helped by the bailout, though what type remains to be worked out. Still to be worked out is whether to allow bankruptcy judges to modify mortgage terms, a provision backed by many Democrats and community activists but opposed by Republicans and the banking industry. The bankruptcy provision is not the only sticking point, however. House Republicans are not on board, according to Minority Leader Rep. John Boehner, R-Ohio. "House Republicans have not agreed to any plan at this point," Boehner said. Instead, they issued a statement of economic rescue principles that calls for Wall Street to fund the recovery by injecting private capital - not taxpayer dollars - into the financial markets. Easing tax laws would prompt investors to put in their own dollars, they said. The plan also calls for: participating firms to disclose the value of the mortgage assets on their books, ending Fannie Mae and Freddie Mac's securitization of "unsound mortgages," reviewing the performance of the credit rating agencies and having the Securities and Exchange Commission audit failed companies to ensure their financial standing was accurately portrayed. House Republicans also want to create a panel to make recommendations for reforming the financial industry by year's end. Meanwhile, the ranking Republican on the Senate Banking Committee has another idea. Sen. Richard Shelby, R-Ala., said he doesn't support the Treasury plan until there is serious consideration of alternatives. He proposed Thursday adding funds to the Federal Reserve and Treasury to allow them to lend more to financial institutions.
Bush still hopeful Before the afternoon meeting, Bush said he expects a deal "very shortly." After, a counselor to the president said "we're getting closer. There's some more that has to be done. It's going to be a consensus plan at the end of the day." "Both sides are going to have to work hard to get to an agreement," presidential counselor Ed Gillespie said on CNN. Administration officials have spent countless hours this week behind closed doors with and in public hearings before Congress. Lawmakers were hoping to have a deal agreeable to both parties hammered out before Thursday's meeting at the White House. On Wednesday night, Bush took the nation's airwaves in a prime-time address in which he laid out a looming economic disaster. "The government's top economic experts warn that, without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold," Bush said. "More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically."
Videos from YouTube
Title: Congressman Ron Paul Schools Bernanke on the Bailout Plan
Categories: Price,Monetary,Wall,Bail,Constitutionality,News,Bailout,Ron,Bernanke,Street,Out,Authority,Debt,Fixing,Federal,Paul,Depression,
Published on: 9/24/2008 11:32:51 AM
Title: Wanda Sykes on Jay Leno: Bailout & Palin
Categories: tonight,leno,show,palin,News,sarah,wanda,bailout,commentary,analysis,sykes,government,jay,
Published on: 9/24/2008 3:35:24 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,
Published on: 9/17/2008 3:23:30 PM
Title: Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kaptur
Categories: military,economy,congress,taxcuts,gitmo,habeas,News,congresswoman,relief,mama,bush,kaptur,iraq,cheney,bill,corpus,
Published on: 9/22/2008 8:03:52 PM
Title: Wall St. Gets A Major Bail Out & Gives Taxpayers The Bill
Categories: turks,aig,out,economy,bail,mac,wall,the,mad,may,News,angry,young,republican,fannie,freddie,st,
Published on: 9/19/2008 9:09:19 PM
Chaos erupted on Thursday in the negotiations over the proposed financial bailout as lawmakers bickered over competing counterproposals to the Bush administration's $700 billion rescue plan. A meeting at the White House between President Bush, congressional leaders and the presidential candidates was meant to speed approval of an agreement, but instead revealed deep divisions between Democrats and Republicans. Earlier in the day, congressional negotiators said they had agreed to a set of principles on revisions to the rescue plan, which calls for the Treasury Department to buy up bad mortgage securities from banks in an effort to get them to lend again. The proposal will help homeowners, curb executive pay packages at participating firms and provide oversight of Treasury's actions, said Sen. Christopher Dodd, D-Conn., a key architect of the congressional effort, in a lunchtime address. "We've reached a fundamental agreement on a set of principles, one, for taxpayers, which is tremendously important," he said. "We're very confident we can act expeditiously." Details on the plans The principles call for Congress to make $250 billion available immediately with $100 billion available, if needed, without requiring additional congressional approval, said two senior Democratic aides familiar with the negotiations. The second half of $350 billion would then become available by a special approval of Congress. On executive compensation, the draft would require limits on compensation for executives of any company participating in the bailout. These caps would apply for as long as the company is in the program. This would include some language to limit excess "golden parachutes." Treasury will also get an equity stake in the companies being helped by the bailout, though what type remains to be worked out. Still to be worked out is whether to allow bankruptcy judges to modify mortgage terms, a provision backed by many Democrats and community activists but opposed by Republicans and the banking industry. The bankruptcy provision is not the only sticking point, however. House Republicans are not on board, according to Minority Leader Rep. John Boehner, R-Ohio. "House Republicans have not agreed to any plan at this point," Boehner said. Instead, they issued a statement of economic rescue principles that calls for Wall Street to fund the recovery by injecting private capital - not taxpayer dollars - into the financial markets. Easing tax laws would prompt investors to put in their own dollars, they said. The plan also calls for: participating firms to disclose the value of the mortgage assets on their books, ending Fannie Mae and Freddie Mac's securitization of "unsound mortgages," reviewing the performance of the credit rating agencies and having the Securities and Exchange Commission audit failed companies to ensure their financial standing was accurately portrayed. House Republicans also want to create a panel to make recommendations for reforming the financial industry by year's end. Meanwhile, the ranking Republican on the Senate Banking Committee has another idea. Sen. Richard Shelby, R-Ala., said he doesn't support the Treasury plan until there is serious consideration of alternatives. He proposed Thursday adding funds to the Federal Reserve and Treasury to allow them to lend more to financial institutions.
Bush still hopeful Before the afternoon meeting, Bush said he expects a deal "very shortly." After, a counselor to the president said "we're getting closer. There's some more that has to be done. It's going to be a consensus plan at the end of the day." "Both sides are going to have to work hard to get to an agreement," presidential counselor Ed Gillespie said on CNN. Administration officials have spent countless hours this week behind closed doors with and in public hearings before Congress. Lawmakers were hoping to have a deal agreeable to both parties hammered out before Thursday's meeting at the White House. On Wednesday night, Bush took the nation's airwaves in a prime-time address in which he laid out a looming economic disaster. "The government's top economic experts warn that, without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold," Bush said. "More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically."
Videos from YouTube
Title: Congressman Ron Paul Schools Bernanke on the Bailout Plan
Categories: Price,Monetary,Wall,Bail,Constitutionality,News,Bailout,Ron,Bernanke,Street,Out,Authority,Debt,Fixing,Federal,Paul,Depression,
Published on: 9/24/2008 11:32:51 AM
Title: Wanda Sykes on Jay Leno: Bailout & Palin
Categories: tonight,leno,show,palin,News,sarah,wanda,bailout,commentary,analysis,sykes,government,jay,
Published on: 9/24/2008 3:35:24 AM
Title: Ron Paul Fox News 9/17/08 AIG bailout
Categories: News,Fox,Baldwin,Ron,McKinney,News,Paul,Nader,
Published on: 9/17/2008 3:23:30 PM
Title: Let's Play "WALLSTREET BAILOUT" The Rules Are... Rep Kaptur
Categories: military,economy,congress,taxcuts,gitmo,habeas,News,congresswoman,relief,mama,bush,kaptur,iraq,cheney,bill,corpus,
Published on: 9/22/2008 8:03:52 PM
Title: Wall St. Gets A Major Bail Out & Gives Taxpayers The Bill
Categories: turks,aig,out,economy,bail,mac,wall,the,mad,may,News,angry,young,republican,fannie,freddie,st,
Published on: 9/19/2008 9:09:19 PM
Washington Mutual, the nation’s largest savings and loan collapses
A http://writefree. Production
Washington Mutual, the nation’s largest savings and loan, agreed Thursday to sell assets and some branches to JPMorgan Chase in a government-brokered deal to rescue the troubled bank, according to people briefed on the deal.
The deal is expected to be discussed at 9:15 p.m. on a conference call for investors held by JPMorgan.
Washington Mutual seen near $5 bln TPG deal | Deals | Reuters
NEW YORK (Reuters) - Washington Mutual Inc, the largest U.S. savings and loan, is close ... and credit losses tied to the nation's ... Iranian rocket launch; Dam collapses near ...
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Cached
FT.com / Companies / Financial services - Washington Mutual presents ...
... such as Washington Mutual, could have systemic consequences if it undermines confidence in other weak lenders. WaMu, the largest savings and loans ... of the nation's ... Informa collapses
more ...
go to website
Mortgage Ledger - Mortgage News and Financial Resources
... collapses dramatically lowering the number of major players in the mortgage industry, reports indicate that Washington Mutual ... Washington Mutual ousted former CEO Kerry Killinger as the nation's largest savings and loan ...
more ...
go to website
Cached
Business Enterprises - Courant.com
CEO ousted at Washington Mutual, country's biggest savings and loan. ... major step to wind down the nation's fourth-largest ... Employees cope after firm collapses ...
more ...
go to website
Cached
Savings and Loan Associations News - The New York Times - Narrowed by ...
... country's largest savings and loan institution; combination would give Washington Mutual $87 ... company for nation's largest savings and loan ... widespread collapses in the savings ...
more ...
go to website
Cached
FDIC May Need $150 Billion Bailout as Local Bank Failures Mount
... March, an internal FDIC memo estimated the cost to cover bank collapses ... loophole Congress failed to close even after the savings and loan debacle of ... mid-September, investors were signaling that Seattle- based Washington Mutual, the nation's largest ...
more ...
go to website
Source: Bloomberg
NewsDateTime: 8 hours ago
Toddlin' Tuesday
What happens if "everything" collapses? Guess ... through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift ... based IndyMac Bank, by far the largest shut down by regulators. Additional failures of large banks or savings and ...
more ...
go to website
Source: Arkansas Times
NewsDateTime: 9/17/2008
Ellsberg Calls for Actions to Prevent War with Iran
The old Jimmy Stuart "Bailey Savings & Loan" has long since been replaced with a system ... Give me control of a nation's money and I care not who makes it's laws." - Mayer ... Foreigners, especially our largest trading partners, have figured this out ...
more ...
go to website
Source: Common Dreams
NewsDateTime: 8/28/2008
US stocks plummet amid credit crisis
Fannie and Freddie own or guarantee about $5-trillion of the nation's ... The California mortgage lender IndyMac collapses. Troubles for US ... the insurance giant American International Group (AIG), and Washington Mutual, the largest US savings and loan ...
more ...
go to website
Source: Mail & Guardian Online
NewsDateTime: 9/15/2008
Federal regulators helped arrange the purchase for Washington Mutual after a weeklong sales process led by the investment bank Goldman Sachs among several big banks and private equity firms failed to reel in an interested bidder. Several bidders attracted by WaMu’s vast deposit base had emerged, including Citigroup and Wells Fargo. So did several foreign buyers, including Banco Santander of Spain, HSBC of Britain, and TD Dominion of Canada. But they worried that deepening losses, which could reach an estimated $30 billion, would make it difficult for them to absorb the troubled bank. To make matters worse, a $700 billion emergency bailout package for the financial system that was subject to Congressional wrangling caused some prospective buyers to stop in their tracks while the situation was in flux.
Videos from YouTube
Title: WaMu Struggles As Lehman Looks for Lifeline
Categories: News,struggles,wamu,lifeline,lehman,washington,mutual,
Published on: 9/11/2008 3:31:38 PM
Title: WaMu Looking for Buyer
Categories: News,buyer,wamu,washington,mutual,
Published on: 9/19/2008 6:37:29 PM
Title: Wamu Commercial!
Categories: dudes,old,lol,Entertainment,lame,joke,wamu,washington,mutual,commercial,
Published on: 3/18/2007 9:13:19 PM
Title: banking another way
Categories: Entertainment,way,banking,another,
Published on: 2/15/2007 9:13:18 PM
Title: Washington Mutual Advertisement
Categories: power,lending,Comedy,home,washington,commercial,mutual,funny,loans,money,banks,comedy,advertisement,
Published on: 8/9/2006 7:25:50 PM
Washington Mutual seen near $5 bln TPG deal | Deals | Reuters
NEW YORK (Reuters) - Washington Mutual Inc
more ...
go to website
Cached
FT.com / Companies / Financial services - Washington Mutual presents ...
... such as Washington Mutual, could have systemic consequences if it undermines confidence in other weak lenders. WaMu, the largest savings and loans ... of the nation's ... Informa collapses
more ...
go to website
Mortgage Ledger - Mortgage News and Financial Resources
... collapses dramatically lowering the number of major players in the mortgage industry, reports indicate that Washington Mutual ... Washington Mutual ousted former CEO Kerry Killinger as the nation's largest savings and loan ...
more ...
go to website
Cached
Business Enterprises - Courant.com
CEO ousted at Washington Mutual, country's biggest savings and loan. ... major step to wind down the nation's fourth-largest ... Employees cope after firm collapses ...
more ...
go to website
Cached
Savings and Loan Associations News - The New York Times - Narrowed by ...
... country's largest savings and loan institution; combination would give Washington Mutual $87 ... company for nation's largest savings and loan ... widespread collapses in the savings ...
more ...
go to website
Cached
FDIC May Need $150 Billion Bailout as Local Bank Failures Mount
... March, an internal FDIC memo estimated the cost to cover bank collapses ... loophole Congress failed to close even after the savings and loan debacle of ... mid-September, investors were signaling that Seattle- based Washington Mutual, the nation's largest ...
more ...
go to website
Source: Bloomberg
NewsDateTime: 8 hours ago
Toddlin' Tuesday
What happens if "everything" collapses? Guess ... through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift ... based IndyMac Bank, by far the largest shut down by regulators. Additional failures of large banks or savings and ...
more ...
go to website
Source: Arkansas Times
NewsDateTime: 9/17/2008
Ellsberg Calls for Actions to Prevent War with Iran
The old Jimmy Stuart "Bailey Savings & Loan" has long since been replaced with a system ... Give me control of a nation's money and I care not who makes it's laws." - Mayer ... Foreigners, especially our largest trading partners, have figured this out ...
more ...
go to website
Source: Common Dreams
NewsDateTime: 8/28/2008
US stocks plummet amid credit crisis
Fannie and Freddie own or guarantee about $5-trillion of the nation's ... The California mortgage lender IndyMac collapses. Troubles for US ... the insurance giant American International Group (AIG), and Washington Mutual, the largest US savings and loan ...
more ...
go to website
Source: Mail & Guardian Online
NewsDateTime: 9/15/2008
Federal regulators helped arrange the purchase for Washington Mutual after a weeklong sales process led by the investment bank Goldman Sachs among several big banks and private equity firms failed to reel in an interested bidder. Several bidders attracted by WaMu’s vast deposit base had emerged, including Citigroup and Wells Fargo. So did several foreign buyers, including Banco Santander of Spain, HSBC of Britain, and TD Dominion of Canada. But they worried that deepening losses, which could reach an estimated $30 billion, would make it difficult for them to absorb the troubled bank. To make matters worse, a $700 billion emergency bailout package for the financial system that was subject to Congressional wrangling caused some prospective buyers to stop in their tracks while the situation was in flux.
Videos from YouTube
Title: WaMu Struggles As Lehman Looks for Lifeline
Categories: News,struggles,wamu,lifeline,lehman,washington,mutual,
Published on: 9/11/2008 3:31:38 PM
Title: WaMu Looking for Buyer
Categories: News,buyer,wamu,washington,mutual,
Published on: 9/19/2008 6:37:29 PM
Title: Wamu Commercial!
Categories: dudes,old,lol,Entertainment,lame,joke,wamu,washington,mutual,commercial,
Published on: 3/18/2007 9:13:19 PM
Title: banking another way
Categories: Entertainment,way,banking,another,
Published on: 2/15/2007 9:13:18 PM
Title: Washington Mutual Advertisement
Categories: power,lending,Comedy,home,washington,commercial,mutual,funny,loans,money,banks,comedy,advertisement,
Published on: 8/9/2006 7:25:50 PM
Bailout plan
House and Senate negotiators from both parties said Thursday that they had reached general agreement to move forward with the administration’s proposed $700 billion bailout of the financial system, authorizing unprecedented government intervention to prevent what President Bush warned could be a widespread economic collapse.
Emerging from a nearly three-hour meeting in the Capitol, Republicans and Democrats said the legislation would include limits on the pay packages for executives of firms that seek assistance and a mechanism for the government to take an equity stake in some firms, so taxpayers have a chance to profit if the bailout plan works.
U.S. government announces AIG bailout plan
In a bid to save financial markets and the economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion US emergency loan to rescue the huge insurer ...
more ...
go to website
Cached
Bush defends bailout plan
WASHINGTON: President George Bush has defended the $700 billion (R5.6 trillion) cost of his financial bailout proposal, saying it needed to be massive so that turmoil on Wall ...
more ...
go to website
Cached
New mortgage bailout plan: Do you qualify? - Buying a House - MSN Real ...
As the Bush administration unveils its plan to help homeowners, we look at the proposal's details. By BusinessWeek.com
more ...
go to website
Cached
Bailout plan boosts stocks
Wall Street was encouraged Monday by the Bush administration’s plan to bail out Fannie Mae and Freddie Mac — sending the Dow up nearly 350 points before later retreating ...
more ...
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Cached
Paulson: Taxpayers Should Bail Out Subprime
Instead, Paulson capped his punish-the-public debtor bailout plan with a call to Congress to let taxpayers be bled by their local governments in order to fund the bailout.
more ...
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Cached
Lawmakers reach agreement on bailout plan
WASHINGTON - Top lawmakers announced today that they had reached an agreement in principle on how to bail Wall Street's financial industry out of its current crisis and that they expected to send the $700-billion plan to President Bush within days ...
more ...
go to website
Source: Chicago Tribune
NewsDateTime: 1 hour ago
Treasurys mixed as bailout takes shape
NEW YORK (CNNMoney.com) -- Treasury prices were mixed Thursday afternoon as negotiations over the government's immense rescue plan for the financial sector appeared to inch closer toward completion and stocks rallied. Prices for short-term notes and ...
more ...
go to website
Source: CNN Money
NewsDateTime: 2 hours ago
Bush Administration, Congress Getting Nearer to Big Wall Street ...
Bush Administration, Congress Getting Nearer to Big Wall Street Bailout Plan ... By Larry McShane Daily News Staff Writer Optimism over the proposed federal bailout package helped the Dow Jones ...
more ...
go to website
Source: US News and World Report
NewsDateTime: 1 hour ago
Stocks Bounce as Bailout Takes Shape
The bailout plan will approve a $700 billion fund that would be available in installments, according to a Wall Street Journal report. The first tranche would be a sizable $250 billion, however, compared to the original $150 billion proposal, which ...
more ...
go to website
Source: BusinessWeek
NewsDateTime: 1 hour ago
McCain quiet on debate despite bailout plan
Stage and production crews make last-minute adjustments to the set of the first presidential debate, scheduled for Friday at the Ford Center in Oxford, Miss. WASHINGTON - John McCain’s campaign welcomed news of an agreement in principle on Thursday ...
more ...
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Source: MSNBC
NewsDateTime: 1 hour ago
The announcement that lawmakers had reached an accord came on a day of political theater at the Capitol and at the White House where President Bush met with Congressional leaders and the presidential candidates, Senator John McCain, Republican of Arizona, and Senator Barack Obama, Democrat of Illinois. “We’re in a serious economic crisis,” Mr. Bush told reporters as the meeting began, shortly before 4 p.m. in the Cabinet Room of the White House. “This meeting is an attempt to move the process forward. My hope is we can reach an agreement very shortly.” Mr. McCain was seated at one end of a long conference table, Mr. Obama at the other, with the president and congressional leaders between them. Neither spoke, though Mr. McCain smiled broadly as reporters shouted questions that went unanswered by President Bush.
Videos from YouTube
Title: Randy Pausch Last Lecture: Achieving Your Childhood Dreams
Categories: carnegie,last,inspirational,Education,pausch,randy,mellon,lecture,health,
Published on: 12/20/2007 2:07:32 PM
Title: Russell Peters
Categories: Peters,Comedy,Russall,
Published on: 12/14/2005 6:08:37 PM
Title: Radiohead - Scotch Mist
Categories: With,Mist,webcast,It,Film,Scotch,Rainbows,Radiohead,In,Music,
Published on: 1/1/2008 10:37:37 PM
Title: Karajan - Beethoven Symphony No. 9 : Part 1
Categories: symphony,musopen,karajan,beethoven,music,Music,
Published on: 11/5/2006 2:41:26 AM
Title: Martin Luther King "I have a dream"
Categories: on,dream,march,king,martin,rights,washington,speech,People,civil,have,luther,
Published on: 9/6/2006 12:20:14 AM
U.S. government announces AIG bailout plan
In a bid to save financial markets and the economy from further turmoil, the U.S. government agreed Tuesday to provide an $85 billion US emergency loan to rescue the huge insurer ...
more ...
go to website
Cached
Bush defends bailout plan
WASHINGTON: President George Bush has defended the $700 billion (R5.6 trillion) cost of his financial bailout proposal, saying it needed to be massive so that turmoil on Wall ...
more ...
go to website
Cached
New mortgage bailout plan: Do you qualify? - Buying a House - MSN Real ...
As the Bush administration unveils its plan to help homeowners, we look at the proposal's details. By BusinessWeek.com
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Bailout plan boosts stocks
Wall Street was encouraged Monday by the Bush administration’s plan to bail out Fannie Mae and Freddie Mac — sending the Dow up nearly 350 points before later retreating ...
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Paulson: Taxpayers Should Bail Out Subprime
Instead, Paulson capped his punish-the-public debtor bailout plan with a call to Congress to let taxpayers be bled by their local governments in order to fund the bailout.
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Lawmakers reach agreement on bailout plan
WASHINGTON - Top lawmakers announced today that they had reached an agreement in principle on how to bail Wall Street's financial industry out of its current crisis and that they expected to send the $700-billion plan to President Bush within days ...
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Source: Chicago Tribune
NewsDateTime: 1 hour ago
Treasurys mixed as bailout takes shape
NEW YORK (CNNMoney.com) -- Treasury prices were mixed Thursday afternoon as negotiations over the government's immense rescue plan for the financial sector appeared to inch closer toward completion and stocks rallied. Prices for short-term notes and ...
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Source: CNN Money
NewsDateTime: 2 hours ago
Bush Administration, Congress Getting Nearer to Big Wall Street ...
Bush Administration, Congress Getting Nearer to Big Wall Street Bailout Plan ... By Larry McShane Daily News Staff Writer Optimism over the proposed federal bailout package helped the Dow Jones ...
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Source: US News and World Report
NewsDateTime: 1 hour ago
Stocks Bounce as Bailout Takes Shape
The bailout plan will approve a $700 billion fund that would be available in installments, according to a Wall Street Journal report. The first tranche would be a sizable $250 billion, however, compared to the original $150 billion proposal, which ...
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Source: BusinessWeek
NewsDateTime: 1 hour ago
McCain quiet on debate despite bailout plan
Stage and production crews make last-minute adjustments to the set of the first presidential debate, scheduled for Friday at the Ford Center in Oxford, Miss. WASHINGTON - John McCain’s campaign welcomed news of an agreement in principle on Thursday ...
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Source: MSNBC
NewsDateTime: 1 hour ago
The announcement that lawmakers had reached an accord came on a day of political theater at the Capitol and at the White House where President Bush met with Congressional leaders and the presidential candidates, Senator John McCain, Republican of Arizona, and Senator Barack Obama, Democrat of Illinois. “We’re in a serious economic crisis,” Mr. Bush told reporters as the meeting began, shortly before 4 p.m. in the Cabinet Room of the White House. “This meeting is an attempt to move the process forward. My hope is we can reach an agreement very shortly.” Mr. McCain was seated at one end of a long conference table, Mr. Obama at the other, with the president and congressional leaders between them. Neither spoke, though Mr. McCain smiled broadly as reporters shouted questions that went unanswered by President Bush.
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