Wall Street
TODAY’S TOP STORIES: It’s the economy, stupid
As if we didn’t already know, a new Albuquerque Journal poll is in to tell us that the economy is Numero Uno in the minds of voters four weeks out from the Nov. 4 election. And get this: The U.S. government is thinking about taking direct ownership stakes in banks as the credit markets refuse [...]
BREAKING: U.S. House passes financial bailout bill
The U.S. House passed the $700 billion bailout legislation by a vote of 263-171. The successful passage of the biggest bailout in American history follows a ballot by the House earlier in the week in which lawmakers dramatically rejected the first version of the legislation 228-205.
Senate campaign affected by bailout votes
Both Tom Udall and Steve Pearce voted against the economic bailout bill on Monday and are headed back to Washington for a second vote expected to happen as early as Friday. As a result, the bailout crisis is taking a bit of a toll on their Senate campaigns.
You, me and the guy next door have a stake in Wall Street
The average American may feel left behind by Wall Street and Capitol Hill. But in fact a majority of Americans have at least a small stake in Wall Street and consequently a stake in the outcome of the bailout plan forged by the Bush administration and refined by Congress.
Breaking: U.S. House rejects bailout plan and stocks tumble
The U.S. House rejected the $700 billion bailout plan today with strong opposition from both Republicans and Democrats. More to come.
TODAY’S TOP STORIES: Bailing out Wall Street
It looks like there may be an agreement to bail out Wall Street to the tune of $700 billion. This means that the government is going to buy the bad debt from financial firms on the skids. But it faces a tough climate in the House of Representatives, where many don’t want to vote for [...]
Only Some of Us Are Celebrating Today
Via Angry Bear, here’s Joseph Stiglitz, the Nobel prize-winning economist, on Treasury Sec. Henry Paulson Jr. celebrating the bailout plan he presented to Congress, which was revised in marathon negotiations this weekend…
We’re crashing: Can we figure out a way to land safely?
In a recent conversation, my dad summed up the current financial crisis better than I could have: We’re trying to figure out how to engineer a controlled crash landing instead of allowing an all-out nosedive into the ground. I believe he’s right. The situation is that serious.
Guv: NM in better financial position than most states
Gov. Bill Richardson says New Mexico is in a better position than most states to weather the current economic crisis, and he’s hopeful that the federal government will “quickly follow through with its promises to intervene and restore confidence in the financial markets.”
The Bush Administration has proposed a $700 billion bailout plan to buy mortgage-related [...]
TODAY’S TOP STORIES: Obama campaign in full swing
In a fresh respite from the usual media focus on the messaging wars of ads, press releases, and candidate campaign events, the Santa Fe New Mexican had a lengthy description yesterday of the Obama campaign’s field operation in Santa Fe. From the first outreach to volunteers last year, to the full-blown canvassing happening now, the [...]