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Federal Plan To Invest In Banks Met With Caution
The government's $250 billion cash infusion into banks is to get them lending again. The Treasury Department is also taking an ownership stake in nine banks. While many bankers and economists express some concern about the plan, reaction has been mostly favorable.
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The 'Last Lynching': How Far Have We Come?
The Last Lynching, a new film by Ted Koppel, examines lives deeply affected by acts of hatred and racism and investigates the last recorded lynching. Surprisingly, it took place in 1981. How far has the U.S. come since then, and how far do we still have to go?
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Dow Plummets More Than 700 Points
The Dow Jones industrial average have fallen by more than 700 points. Carey Leahey, senior economist with Decision Economics, blames the "dismal" retail sales report and the lingering effects of stagflation for the numbers. One ray of hope: the London Interbank Offered Rate has come down slightly.
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U.S. Treasury To Buy Stakes In Nine Banks
The Bush administration announced new steps Tuesday to shore up the nation's battered financial markets. The government will inject capital into financial institutions to help thaw frozen credit markets, create jobs and fuel economic growth.
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House Passes Financial Bailout Bill
The House has passed the Treasury's financial rescue plan and President Bush has signed it. The measure's passage marks a turnaround just four days after the House rejected the measure. Many lawmakers switched their votes from no to yes.
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Powell Backs Obama, Blasts GOP
Colin Powell, a Republican and retired general who was President Bush's first secretary of state, broke with the party Sunday and endorsed Democrat Barack Obama for president. Powell called Obama a "transformational figure" while criticizing the tone of John McCain's campaign.
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Bush Announces Moves To Steady Banking Sector
President Bush announced a $250 billion plan Tuesday in which the government will buy shares in the nation's banks. He vows that a massive purchase of stock in nine major U.S. banks will benefit the economy "by stabilizing the financial system." The president said the steps are not intended to take over the free market.
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Statins May Help Already Low Cholesterol Levels
A large research study released Sunday at the American Heart Association meeting in New Orleans is rocking the cardiology world. It suggests that even people with normal or low cholesterol levels can benefit from a cholesterol-lowering drug known as a statin.
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Exit Polls: Economy Dominated Issues
Analysts will be going over exit polls for some time to come. There is valuable information to be gleaned from them. More than six in 10 voters picked the economy as the most important issue facing the nation.
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Va., Pa., Colo. May Hold Key In Election
Democrat Barack Obama is making a play for reliably Republican Virginia. Republican John McCain is looking to make gains in traditionally Democratic Pennsylvania. Colorado is also up for grabs in Tuesday's presidential race.
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