Mortgage and Financial News From 2008-9-30 Page 5

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• Supporters struggle to save rescue plan (Connecticut Post)

  WASHINGTON -- Wanted: An even dozen lawmakers, willing to make a really big commitment. Party affiliation no concern. Alarmed supporters of the multibillion-dollar economic rescue fought to bring
  2008-09-30 08:47:10

• Mortgage rescue schemes - Guardian Unlimited

  But if the alternative involves losing your home altogether, becoming the tenant of a housing association might not seem that bad after all. That's the thinking behind the government sale and rent back scheme. It is the most drastic element of a ...
  2008-09-01 05:58:00

• Wall Street rallies on bailout revival hopes - Reuters

  NEW YORK (Reuters) - Wall Street roared back on Tuesday, a day after its worst sell-off in 21 years as investors bet Washington would revive a plan to stabilize the U.S. financial sector following its surprising defeat on Monday on Capitol Hill ...
  2008-09-30 04:41:00

• The Bailout Bill Fails (Update #3) - BusinessWeek

  Once again, it is back to the drawing board for the Treasury’s proposed $700 billion rescue plan for the financial industry. In a development that stunned Washington after more than a week of intensive negotiations, the bailout bill failed in the ...
  2008-09-30 04:05:00

• After Wall Street, anger spreads to Congress - MSNBC

  Mary Ann Bock got pretty angry when she found out that lax mortgage standards had started a financial maelstrom that appeared likely to require billions of dollars in federal money to fix. She got even angrier after she heard that Congress wasn’t ...
  2008-09-30 04:41:00

• Dow comes back big - CNN Money

  NEW YORK (CNNMoney.com) -- Stocks rallied Tuesday, with the Dow jumping 485 points on bets that Congress will pass a version of the government's $700 billion package, following Monday's crushing defeat. But credit markets remained frozen. Several ...
  2008-09-30 04:33:00

• Stocks Surge, Credit Crumbles, Investors Confused - Forbes

  It may be rare that a triple-digit gain on the Dow is not good news, but Tuesday's surge comes on the heels of a historic decline and at a time that credit markets are freezing up. Key lending rates continued to rise on Tuesday, as the U.S ...
  2008-09-30 04:33:00

• Bush vows to act fast to end the global financial crisis (Daily Dispatch)

  US PRESIDENT George W Bush vowed to fight to rescue the US economy as world leaders pressed for action yesterday after his 700 billion bailout plan was rejected.
  2008-09-30 06:51:05

• Wall Street's stock has dropped in world's eyes (USA Today)

  Wall Street didn't just lose hundreds of billions of dollars in the current financial crisis. It lost its good name, too.
  2008-09-30 06:51:56

• Europe urges swift U.S. action on financial crisis (Austin American-Statesman)

  European leaders urged the United States to quickly revive its defeated bank bailout proposal and stabilize the global financial system, as governments across the continent Tuesday shored up their own banks against the virulent spread of the crisis.
  2008-09-30 06:52:02

• General Assembly members offer their takes on the bailout failure (Eden Daily News)

  Sen. Phil Berger, R-Rockingham, Guilford, says, “There’s plenty of blame to go around.” Rep. Nelson Cole, a Democrat who represents much of Rockingham County, says, “The main problem is summed up in a five-letter word called greed.”
  2008-09-30 07:01:54

• Rejection of bailout plan causes panic across the globe (Asia News Network)

  The financial markets have gone crazy after the US Congress on Monday voted down the US$700-billion bail-out package, designed to salvage the troubled financial sector. The S&P fell by 8.8 per cent, the Nasdaq by 9.1 per cent and the Dow by 7 per cent.
  2008-09-30 07:05:16

• Senate Schedules Vote Wednesday on Bailout Bill - FOX News

  WASHINGTON — As the House of Representatives picks up the pieces of its defeated economic bailout bill, the Senate has scheduled at vote Wednesday evening on a deal that includes an increase in the federal deposit insurance limit. The news of a ...
  2008-09-30 05:02:00

• Lawmakers Take Another Crack At Rescue Plan - FOX News

  WASHINGTON — Congressional leaders scrambled Tuesday to find out what changes are needed to get the $700 billion rescue plan approved by House members as their parties' presidential nominees offered suggestions. Both Barack Obama and John McCain ...
  2008-09-30 05:02:00

• More Letters to the Editor - Seattle Post Intelligencer

  We remain livid about the $700 billion bailout of the credit crisis. We understand that something needs to be done. However, our deep disappointment and anger are based on the following points: This financial crisis was predictable and predicted ...
  2008-09-30 05:02:00

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