News

2008

September

29

• Bailout plan's effect not expected to be swift. The tentative agreement Sunday on a $700-billion financial system rescue package would provide a badly needed psychological boost on Wall Street but wouldn't be an immediate panacea for the economy or housing market, experts predicted.…

• Bailout bill to go to House. Saying the nation's economy is on the line, congressional leaders are pushing for a vote today on a $700-billion plan to end the financial system's paralysis and protect taxpayers from having to bear the cost.…

• Hedge funds grudgingly reveal short positions. Hedge fund managers are reluctantly preparing to disclose their short positions to U.S. regulators Monday, a move set to give a rare public glimpse into their secretive trading strategies two weeks later. For shareholders who…

• What's next for WaMu customers?. These are nail-biting times for bank customers. On Thursday, the Federal Deposit Insurance Corp. seized the assets of Washington Mutual, the nation's largest savings and loan, and brokered the sale of the company to JPMorgan…

• Economy: Poll finds Americans gloomier, for now. As people on Wall Street and Main Street hold their breath to see if a federal bailout of the nation's financial institutions will work, Americans are starting to speak — not whisper — the word…

• Listo plan de rescate. Los líderes en el Congreso y la Casa Blanca llegaron el domingo a un acuerdo sobre un plan multimillonario de rescate del sector financiero después que los legisladores insistieron en compartir el control de gastos…

• ¿Lo necesitas o sólo lo quieres?. Una sensación muy agradable que muchos desconocen. Te prometo –por experiencia propia- que es un gran placer. Como dijera en una ocasión Benjamín Franklin, "un centavo ahorrado es un centavo ganado" y ese es, en…

28

• Site has banks bidding for your money. In some bazaars, vendors call out their prices, lowering them on the spot as they vie with one another for a shopper’s business. That’s the kind of competitive selling — and possible good deals for…

• Banks love bail out, but not credit card bill. You've got to love the banking industry. As our friends in the financial sector were passing the hat among taxpayers last week for $700 billion in bailouts to cover their crappy mortgage investments, they were…

27

• Two families find a little change can save a lot. Bruce and Jennifer Pivnick slashed their insurance costs without reducing their coverage. Mitzi and Jimmie Walker discovered that food cooked at home tastes as good as take-out and costs a lot less. And in the…

26

• SEC admits its lax oversight fueled collapse. The chairman of the Securities and Exchange Commission, a longtime proponent of deregulation, acknowledged on Friday that failures in a voluntary supervision program for Wall Street’s largest investment banks had contributed to the global financial…

• Economists question basis of bailout plan. The Bush administration's pitch for a sweeping bailout of the financial system has centered on two simple premises: that the economy could suffer a crippling downturn if action is not taken very quickly and that…

• WaMu sold to Chase. In the biggest bank failure in U.S. history, Washington Mutual Bank was seized late Thursday by federal regulators and immediately sold to JPMorgan Chase & Co. for $1.9 billion. Customer deposits will be secure, regulators…

• No hay acuerdo sobre rescate financiero. Una revuelta entre los republicanos estancó el jueves los esfuerzos urgentes para armar un plan de rescate económico, un vuelco caótico en una jornada que parecía encaminada al éxito. Los fatigados negociadores del Congreso trabajaron…

25

• The crisis and your pocketbook. Here we address readers' questions about the financial crisis. To submit a question, go to http://www.washingtonpost.com/yourmoney Q.What is the impact of the government's financial rescue plan on credit unions? A. The impact on credit unions…

• Congreso escéptico ante plan de rescate. Aunque la Administración Bush advirtió ayer que si el Congreso no agiliza el plan de rescate financiero las consecuencias para los estadounidenses serán desastrosas, legisladores de ambos partidos —y por diversas razones— insistieron en modificaciones…

24

• CA to Congress: Protect homeowners and taxpayers (Consumer Action calls for accountability in the bailout plan). As Congress decides how and if they should toss a trillion dollar life preserver to the sinking financial services industry today, Consumer Action (CA) urges lawmakers to prevent millions more homeowners from losing their homes…

23

• Aetna to let outside doctors decide. Aetna Inc., the third-largest U.S. health insurer, will let outside doctors decide whether to cancel coverage for sick customers suspected of obtaining policies through false or incomplete information. The Hartford, Conn., company will give three-member…

• Registry for wrecks back on track. On Monday a federal judge ruled in favor of consumer groups and gave the government a deadline to finally implement a law Congress passed in 1992. Three consumer groups sued Attorney General Michael B. Mukasey…

• Housing eating up too much income. Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, when the local McDonald's sells hamburgers for 49 cents. Ray lost his engineering job last November, and…