A good meltdown never fails to bring out the bargain hunters. With congress celebrating the Jewish New Year, no deal on a bailout package can emerge before tomorrow at the earliest. And yesterday’s setback has sparked plenty of talk that agreement will be harder to achieve than thought over the weekend. Now uncertainty rules the […]
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How exactly did the U.S. Treasury come up with the $700 billion price tag for its bailout package, recently known in the financial blogosphere as “the Splurge”?
“It’s not based on any particular data point,” a Treasury spokeswoman told Forbes.com last week. “We just wanted to choose a really large number.”
Well, that’s reassuring.
UPDATE: It seems that […]
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Lawmakers are gearing up to vote on a $700 billion financial bailout plan, but the rescue from Capitol Hill didn’t come soon enough for Wachovia — whose assets are being acquired by Citigroup — or for Fortis NV, Hypo Real Estate and Bradford & Bingley, which were nationalized by European governments on Monday.
“Wachovia did not […]
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Campbell Soup Co. was the only stock in the S&P 500 that escaped yesterday’s historic sell-off. That’s right: 499 fell, and just one rose. Could there be a clearer metaphor for Americans refocusing on the basics after a decade of greed and
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Since socialism is always more palatable when it bails out rich people, Henry Paulson’s $700 billion financial rescue package arrives in Congress today after round-the-clock negotiations over the weekend and exhortations from presidential candidates. But even as Congress prepared to vote, across the ocean the financial crisis rattled several European institutions.
The governments of Belgium, the […]
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The bailout mess should have been a great opportunity for John McCain to trumpet his dissatisfaction with special interests and the status quo on Wall Street and in Washington, D.C. Instead, his odds of winning the presidency have plummeted with the stock
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