Tuesday, September 23, 2008

FBI to investigate financial firms

No details but the Associated Press is saying the FBI is investigating Fannie Mae, Freddie Mac, Lehman Brothers and AIG.

This comes after Congressional hearings today on what basically amounts to a government attempt to prop up the stock market and prevent a "run on the banks."

Times Online

Stocks tumble on bailout woes
CNN - 44 minutes ago
NEW YORK (CNNMoney.com) -- Stocks slumped Tuesday, as the heated debate in Congress on the proposed $700 billion bank bailout dampened hopes that the ...
In search of an answer: Why is the Bush/Wall Street bailout so ... Los Angeles Times
Bailout extends to foreign banks, small and regional institutions Bizjournals.com
The other bailout: Main StreetChristian Science Monitor

Voice of America

Bailout plan under fire
CNNMoney.com - 2 hours ago
NEW YORK (CNNMoney.com) -- The debate over whether Washington should enact an extraordinary bailout of the nation's financial system reached a fever pitch ...
Why Congress Objects To The Bailout Plan NPR
Senate attack on bailout lacks explicit threat Reuters
Bailout plan sparks wide debate in Congress MSNBC

 Main Street is starting to rally against Wall Street. Protesters came together today to demonstrate against Washington's bailout plan. CBS 2's Deborah Garcia was there and has more from lower Manhattan.Play Main Street Protests Wall St. Bailout Plan CBS 2 New York via Yahoo! News - 1 hour, 14 minutes ago image unavailableReuters
Rough Cut
Sep 23, 2008
image unavailableReuters
Sep 23, 2008
 South Carolina Republican Jim DeMint calls the proposed bailout completely unacceptable.Play GOP senator says bailout wrong CNN via Yahoo! News - Sep 23 9:32 AM  Treasury Secretary Henry Paulson told the Senate Banking Committee Tuesday that Congress has to quickly pass the administration's 700 billion dollar bailout of the financial industry. (Sept. 23)Play Paulson seeks quick passage of bailout plan AP via Yahoo! News - Sep 23 12:01 PM  Financial leaders are grilled during a Senate hearing about the $700 billion federal bailout plan.Play Heat at bailout hearing CNN via Yahoo! News - 1 hour, 5 minutes ago image unavailableReuters
Rough Cut
Sep 23, 2008
image unavailableReuters
Sep 23, 2008
 Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson told Congress Tuesday the country faces a deep recession if lawmakers don't approve a $700 billion plan to buy up bad mortgage loans. But despite the dire warnings, there is plenty of resistance to the bailout. KVUE's Mike Goldfein has more one the testimony from Washington.Play Resistance to bailout persists despite warnings KVUE-TV Austin via Yahoo! News - 37 minutes ago  U.S. Treasury Secretary Henry Paulson urged Congress to act swiftly to put in place a $700 billion financial system bailout, warning delay would put the economy at risk.Play Paulson warns of bailout delay costs Reuters via Yahoo! News - Sep 23 9:51 AM  Barack Obama said Americans need assurances about the future of the economy if they are expected to help fund the $700 billion bailout of the nation's financial markets. (Sept. 23)Play Obama: Americans need assurances about bailout AP via Yahoo! News - 2 hours, 57 minutes ago

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