News

2008

September

26

• SEC admits its lax oversight fueled collapse. The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global

• Economists question basis of bailout plan. The Bush administration's pitch for a sweeping bailout of the financial system has centered on two simple premises: that the economy could suffer a crippling downturn if action is not taken very quickly and that

• No hay acuerdo sobre rescate financiero. Una revuelta entre los republicanos estancó el jueves los esfuerzos urgentes para armar un plan de rescate económico, un vuelco caótico en una jornada que parecía encaminada al éxito. Los fatigados negociadores

25

• Congreso escéptico ante plan de rescate. Aunque la Administración Bush advirtió ayer que si el Congreso no agiliza el plan de rescate financiero las consecuencias para los estadounidenses serán desastrosas, legisladores de ambos partidos —y por diversas razones— insistieron

24

• CA to Congress: Protect homeowners and taxpayers (Consumer Action calls for accountability in the bailout plan). As Congress decides how and if they should toss a trillion dollar life preserver to the sinking financial services industry today, Consumer Action (CA) urges lawmakers to prevent millions more homeowners from losing their homes

23

• Housing eating up too much income. Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents. Ray lost his engineering job last November, and has

• Fed chief urges rapid bailout. Federal Reserve Chairman Ben Bernanke warned Congress Tuesday that global financial markets are under "extraordinary stress" and lawmakers must act urgently to stabilize conditions and "avert what otherwise could be very serious consequences for our

• Bailout's tricky balancing act. As the government weighs how to bail out the financial sector, the plan's engineers face a dilemma. The higher the prices the government pays for troubled mortgage securities held by banks, the more the rescue

• The Crisis and your pocketbook. The government's complicated financial intervention has left many everyday consumers and investors curious about the impact on their pocketbook. Today, The Post is starting a feature that attempts to answer some timely personal finance questions.

• Llegan a un acuerdo de plan de rescate financiero. El gobierno y los principales legisladores del país acordaron incluir ayuda hipotecaria, un aumento de la supervisión del Congreso y un paquete de estímulos a compañías en problemas en su plan

22

• Can we dodge a recession?. Business was already down at the Muddy Cup Coffee House this year. Now, Jim Svetz, owner of nine coffee shops in Upstate New York, fears things are only going to get worse. Consumers "see the

21

• For banks, bailout. For consumers, credit advice. The Treasury Department started a campaign last week to educate Americans about the importance of credit. The campaign was not designed for Wall Street banks, currently awaiting the details on their $700 billion government bailout, but

20

• Wall St. credit turmoil felt on Main St.. Credit for consumers and companies alike was choking to a halt as the crisis on Wall Street intensified earlier this week. But when word of a government bailout for financial institutions began to circulate yesterday,

• FTC settlement shines light on bad practices. Fannie Mae, Freddie Mac, Merrill Lynch and Lehman Brothers have dominated recent headlines, but a little-noticed $28 million settlement earlier this month between the Federal Trade Commission (FTC) and what's left of Bear Stearns symbolizes the

18

• Era of easy credit comes to abrupt end. The years of easy money were fun while they lasted. Banks and credit card providers were so flush with cash that they could help virtually anyone — including many who had trouble juggling their bills — pay

• AIG Insurance: How am I affected?. The financial problems at American International Group Inc. may be causing you great concern if you hold an AIG life, health, home or auto insurance policy, or have an annuity with the company. Insurance industry

16

• Financial crises have slowed but not halted U.S. economy. Even as the meltdown of the housing and mortgage markets has deflated home values, touched off a rush of foreclosures, triggered a federal bailout of the mortgage giants Fannie Mae and Freddie Mac, and resulted

• Qué hacer después de un huracán. Todos sabemos que un huracán arrasa. Pero también es cierto que, después de su paso, es mucho lo que podemos hacer para recuperarnos de los daños, reorganizar la casa y la

15

• What changes in financial world mean to customers. One clear implication of the tumult in the financial world is that some of the biggest brains in the business, from the Federal Reserve to Wall Street, have no idea what will happen next or

• The effects of credit crisis at home. The turmoil sweeping through the financial markets has left many people worried about their own stocks, bank accounts, and retirement funds. The tottering of investment bank Lehman Brothers, the weakening cash position of AIG, and