economy

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In Poll, More Blame GOP, Bush for Bailout Failure

90% worry economy will suffer more

(Newser) - A poll shows that 44% of Americans blame Republicans and 21% Democrats for the failed bailout, though a majority thought the plan didn't go far enough to protect the public, reports the Washington Post. Respondents were split on the bill: 45% were for it, 47% against it. Still, almost 90%...

New Rescue Hopes Lift Stocks
 New Rescue 
 Hopes Lift 
 Stocks 
MARKETS
Sep 30, 2008 8:44 AM CDT

New Rescue Hopes Lift Stocks

Bargain hunters out en masse

(Newser) - Stocks rose at the open today, as traders bet on a new rescue plan and picked over the wreckage of yesterday’s record-setting drop. The Dow rose almost 218 points, while the Nasdaq and S&P were up 2.5% and 2.6% respectively. “After the absolute carnage we...

Obama Wants to Hike Deposit Insurance

Calls for revived bailout to include increase to $250K from $100K

(Newser) - Barack Obama today proposed to revive the $700 billion bailout lying bloodied on the House floor with a provision increasing federal insurance to $250,000 from the current $100,000, Politico reports. The presidential hopeful called it “a step that would boost small businesses, make our banking system more...

Managing Bailout Only Gets Trickier From Here
Managing Bailout Only Gets Trickier From Here
Analysis
Sep 29, 2008 10:09 AM CDT

Managing Bailout Only Gets Trickier From Here

Government needs to move carefully, particularly on failing banks: experts

(Newser) - The Treasury’s bailout plan won’t end the economic crisis, Steven Lohr writes in the New York Times. It’s merely a first, costly step, and overseeing its workings will be a major undertaking for the next administration, as will assisting homeowners and crafting policies for a less credit-happy...

McCain Casts Himself as Hero of Financial Crisis

Republican can only win by changing subject from policy to himself

(Newser) - In parachuting into Washington to "rescue" the $700-billion bailout for Wall Street, John McCain demonstrated again that he wants to make the election about himself, not his politicies, writes Harold Meyerson in the Washington Post. With the beleaguered economy an area where Barack Obama is seen as stronger, McCain...

Congress Wants More Taxpayer Guarantees

Amid dire warnings and political theater, sides inch closer to compromise

(Newser) - As opposition to the Bush administration’s economic bailout plan became more strident in both parties yesterday, officials began a major push to convince Congress a deal had to be approved quickly, the New York Times reports. The White House said the results of failing to reach an accord were...

McCain Acting Like a 'Flustered Rookie': Will
McCain Acting Like a 'Flustered Rookie': Will
OPINION
Sep 23, 2008 10:47 AM CDT

McCain Acting Like a 'Flustered Rookie': Will

Conservatives should fear self-righteous loose cannon

(Newser) - The economic crisis has one presidential candidate acting like a “flustered rookie,” writes George F. Will of the Washington Post, but despite his limited resume, “It is not Barack Obama.” McCain’s response has been incoherent, including a Queen of Hearts-esque call for SEC Chairman...

Americans Blame GOP for Economy by 2-to-1

(Newser) - Voters blame the GOP over Democrats for the Wall Street crisis by a 2-to-1 margin that may be boosting Barack Obama's overall numbers, a new poll says. Nearly half of Americans pinned blame on Republicans while only about a quarter held Democrats responsible. And Obama held a 10-point lead among...

How You Know It's a Crisis: Oprah Is Bailer-Out-in-Chief

Culture11 lists top changes to look for in our new economy

(Newser) - How the Wall Street meltdown will affect our day-to-day existence, per Culture11:
  • Nation's emergency lender: Oprah.
  • Living in sin now OK; sharing a sleeping bag in tent city is new social scourge.
  • Cloning approved to allow for mass creation of Alan Greenspans.
  • Hipsters downgrade their booze from PBR to ethanol.
...

After Meltdown, 'Safe Will Be the New Sexy': Cramer

'Good, clean, old-fashioned banking' is coming back in US markets

(Newser) - A new era has arrived on Wall Street, with the big investment firms falling, James Cramer writes in New York, and traditional banks with large deposit bases looking like the smartest option all along. “We’ll see a more chaste culture emerge from all of this, on Wall Street,...

Raise Your Hand if You Want Part of the Bailout

Lobbying intense as Wall Street firms jockey to profit from rescue

(Newser) - Where there’s $700 billion of government money, there are lobbyists. Financial institutions are jockeying for their piece of the massive bailout bill that’s being rushed through Congress, the New York Times reports, with everyone from insurers to mortgage lenders looking to profit by unloading assets under the most...

McCain Team on Defense Over Health Care Comment

Dem said McCain backs banking deregulation

(Newser) - John McCain was back on the defensive over the economy yesterday, after Barack Obama accused him of touting banking deregulation in a magazine article even as Washington is scrambling to re-regulate the industry to stave off a Wall Street meltodown, the Washington Post reports. In this month's Contingencies magazine, McCain...

Noonan: What if Neither Man Is Up to the Job?

Things will get mean out there

(Newser) - The election is about to enter a dark, mean period writes Peggy Noonan in the Wall Street Journal, as the country confronts a terrifying possibility: What if neither man is up for the job? Thanks to the economy, anxiety is at a fever pitch, but “I haven’t heard...

Financial Flip Reveals Yet Another McCain
Financial Flip Reveals Yet Another McCain
OPINION
Sep 18, 2008 11:18 AM CDT

Financial Flip Reveals Yet Another McCain

Hasty reprogramming turns candidate into pro-regulation populist

(Newser) - John McCain tried on yet another new personality Tuesday, ranting about “abuses on Wall Street” and promising to “put an end to the greed” with new regulations. Yes, he was suddenly an angry populist, not the guy who’d favored deregulation his entire career, Gail Collins observes in...

Bush: I'm Working on Economy
 Bush: I'm Working on Economy 
Sep 18, 2008 10:35 AM CDT

Bush: I'm Working on Economy

President, in rare words on financial crisis, says he shares America's fears

(Newser) - President Bush said today that he shares Americans' concerns about the turmoil in the financial markets, and promised that the government will act aggressively. "The American people can be sure we will continue to act to strengthen and stabilize our financial markets," he said. Bush canceled his fundraisers...

Candidates Get the Economy Wrong: Pundits
Candidates Get the Economy Wrong: Pundits
OPINION
Sep 17, 2008 1:50 PM CDT

Candidates Get the Economy Wrong: Pundits

McCain is out of touch and off-message; Obama is reckless

(Newser) - With the economy in trouble, John McCain and Barack Obama have been talking economics. How are they doing?
  • Not very well, says the Wall Street Journal, declaring that the candidates “appear to know more about Mars than they do about financial markets.” Obama’s offering a return to
...

McCain Fumbles for Right Tone on Economy
McCain Fumbles for Right Tone on Economy
ANALYSIS
Sep 17, 2008 5:35 AM CDT

McCain Fumbles for Right Tone on Economy

Seeks to overcome charges he's out of touch, can't see trouble

(Newser) - John McCain struck his latest discordant note on Monday when he described the economy's fundamentals as "strong" even as the financial system shuddered under hammer blows. McCain swiftly backpedaled, calling America's workers its fundamentals, but the issue highlights the candidate's struggle to overcome Democratic charges that he's out of...

Mac: Economy's Strong—Or, Er, Maybe Not

He 'doesn't get it,' Obama responds to McCain's mixed messages

(Newser) - John McCain yesterday appeared to flip flop in his response to the deepening crisis on Wall Street, reports the Washington Post. "The fundamentals of our economy are strong," McCain declared. But just minutes later he said that the "fundamentals of our economy are at risk." A...

AIG Credit Rating Cut Triggers Mad Dash for Cash

Feds in emergency talks with investment banks to avert another crisis

(Newser) - Insurance giant AIG teetered on the brink of catastrophe last night as ratings agencies downgraded the beleaguered firm's credit ratings, forcing it to raise $14.5 billion to meet debt obligations, reports the Wall Street Journal. Federal Reserve officials were holding emergency talks with Goldman Sachs and JPMorgan Chase in...

As Economy Sinks, Lottery Sales Soar
As Economy Sinks,
Lottery Sales Soar
Sep 13, 2008 10:50 AM CDT

As Economy Sinks, Lottery Sales Soar

Consumers tightening belts don't scratch their lottery spending

(Newser) - As the economy falters, one thing people aren’t cutting back on is lottery tickets, the New York Times reports. In fact, higher unemployment rates usually mean higher lottery sales, says one study, and sales are hitting record highs in at least 22 states. “With companies tightening and not...

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