Flawed Bill ...more

October 4, 2008

The Senate strongly endorsed the $700 billion economic bailout plan Wednesday, leaving backers optimistic that the easy approval, coupled with an array of popular additions, would lead to House acceptance by Friday and end the legislative uncertainty that has rocked the markets. ...more

October 2, 2008

Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief. ...more

September 30, 2008

The FDIC's agreement to share potential multibillion-dollar losses on Wachovia Corp.'s mortgage loans with buyer Citigroup Inc. is a way for the government to ensure a solution at the least cost to taxpayers, banking experts say. ...more

September 30, 2008

Wall Street's worst fears came to pass Monday when the government's financial bailout plan failed in Congress and stocks plunged precipitously - hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market's angst, froze up further amid the growing belief that the country is headed into a spreading credit and economic crisis. ...more

September 30, 2008

WASHINGTON - Congressional leaders said Saturday they hoped to reach an agreement on a multibillion-dollar bailout plan for the financial sector before the markets open Monday, even if House and Senate votes would come later. ...more

September 27, 2008

In their first debate of the 2008 presidential campaign, Sens. John McCain and Barack Obama immediately discarded the scheduled topic of foreign affairs Friday night and waded into a discussion of the nation's financial crisis, with both saying they were optimistic that Congress would agree on a financial bailout plan in the coming days. ...more

September 27, 2008

Wachovia Corp. has begun preliminary merger talks with Banco Santander SA of Spain, Wells Fargo & Co. of San Francisco and Citigroup Inc. of New York, The Wall Street Journal and The New York Times reported Friday, citing people familiar with the matter. ...more

September 27, 2008

WEDNESDAY: McCain announces he is suspending his campaign and will not debate Friday unless a bailout agreement is reached. He urges Obama to do the same. Obama says he called McCain about issuing a joint statement on the bailout earlier and will go on with the debate. ...more

September 27, 2008

WASHINGTON - President Bush told Congress Friday it must "rise to the occasion" and pass legislation bailing out the struggling financial system, and leading lawmakers arranged to resume difficult negotiations. ...more

September 26, 2008