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Paulson crafts his new role
Washington - Wall Street now runs through Washington. Well, maybe not literally. But the Oct. 3 enactment of a massive rescue bill, plus the government bailouts that preceded it, may have changed fundamentally the relationship between the US capital and the nation's financial markets - and perhaps free-wheeling capitalism itself.
People:Henry Paulson Ronald Reagan Activities:Bush Admin.
2008-10-06
Dow's historic drop reflects financial system's challenges
Even if the $700 billion bailout had succeeded, as massive as it would have been, it would have provided just one new leg for weakened credit markets to stand on. A recovery of the financial system will also depend on reviving the flow of private investment money, closing or consolidating weak banks, and a continuation of the extraordinary efforts by the Federal Reserve. Those may be the lessons of a rocky Monday in markets, as Congress wrestled with a Treasury-backed proposal to buy up bad debts that have clogged the banking system.
Nations:Japan Canada People:Warren Buffett Activities:2008 U.S. Financial Rescue U.S. Markets Source:(Christian Science Monitor)
2008-10-01
US regulator says flawed oversight fed financial crisis
WASHINGTON (AFP) - The head of the US financial regulator SEC has blamed a voluntary monitoring program for major investment banks as a cause of the global financial crisis and said he was shutting the program down.
Activities:2007 Global Credit Crunch
2008-09-27
Markets remain on edge as investors seek safety
NEW YORK - Volatility swept the financial markets again Monday as investors grew nervous about an amorphous government plan to buy $700 billion in banks' mortgage debt. Stocks fell sharply, taking the Dow Jones industrials down more than 370 points, while investors sought safety in hard assets such as gold and oil, which at one point shot up more than $25 a barrel.
Nations:Japan Germany France People:Christopher Dodd Henry Paulson Ben Bernanke Activities:U.S. Markets 2008 U.S. Financial Rescue
2008-09-22
Last major investment banks change status
WASHINGTON - It was the end of an era on Wall Street as the Federal Reserve granted permission for the last two major investment banks -- Goldman Sachs and Morgan Stanley -- to become bank holding companies in order to stay in business.
Nations:Japan People:Christopher Dodd Activities:Lehman Brothers Bankruptcy
2008-09-22
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