http://www.newser.com/2008 - Newseren-usNewser Feed GeneratorMon, 06 Oct 2008 13:43:29 CDThttp://www.newser.com/story/38954/fed-weighs-emergency-rate-cut.html?refid=rss_all_defaultMounting fears that the credit crisis and continually worsening economic data will push a stagnant US economy into a severe recession has spurred the Federal Reserve to consider cutting interest rates from their current 2%, the Wall Street Journal reports. Even if the House follows the Senate in passing the $700 billion bailout, some action is likely.http://www.newser.com/story/38954/fed-weighs-emergency-rate-cut.html?refid=rss_all_defaultThu, 02 Oct 2008 6:27:55 CDThttp://www.newser.com/story/38344/treasury-will-struggle-to-value-mortgage-holdings.html?refid=rss_all_defaultWhen Treasury starts spending the $700 billion in bailout money it’s asking for, the big question is going to be how much to pay for assets that are toxic in part because no one can figure out what they're worth . The bundled and rebundled mortgage securities causing Wall Street tumult are hodgepodges of loans of varying quality, mostly low, reports the New York Times. “No two pieces of paper are the same,” says one bond portfolio manager.http://www.newser.com/story/38344/treasury-will-struggle-to-value-mortgage-holdings.html?refid=rss_all_defaultThu, 25 Sep 2008 5:19:29 CDThttp://www.newser.com/story/38248/congress-wants-more-taxpayer-guarantees.html?refid=rss_all_defaultAs 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 “unthinkable,” but Congress remained leery, seeking more protection for taxpayers.http://www.newser.com/story/38248/congress-wants-more-taxpayer-guarantees.html?refid=rss_all_defaultWed, 24 Sep 2008 5:52:27 CDThttp://www.newser.com/story/38251/fed-grabs-another-30b-in-currency-swap.html?refid=rss_all_defaultThe Federal Reserve announced today that it had set up another $30 billion worth of currency swap lines—designed to put more dollars into world markets—in its latest effort to deal with the credit market. The Fed arranged two $10 billion reciprocal circuits with Australia and Sweden’s central banks, and $5 billion lines with Denmark and Norway, Reuters reports.http://www.newser.com/story/38251/fed-grabs-another-30b-in-currency-swap.html?refid=rss_all_defaultWed, 24 Sep 2008 10:51:20 CDThttp://www.newser.com/story/38240/critics-bernanke-paulson-plan-isnt-the-only-option.html?refid=rss_all_defaultThe Bush administration’s $700-billion bailout isn’t the only option available to help Wall Street, and critics say alternatives that limit taxpayer liability have been too quickly abandoned for the sake of quick action, reports the Washington Post. "They presented this as a comprehensive, decisive solution, but it's clearly not comprehensive and probably not decisive," says one plan critic. Among the options being floated:http://www.newser.com/story/38240/critics-bernanke-paulson-plan-isnt-the-only-option.html?refid=rss_all_defaultWed, 24 Sep 2008 9:25:26 CDThttp://www.newser.com/story/38211/tough-sale-paulson-bernanke-cant-sway-critics.html?refid=rss_all_defaultHenry Paulson and Ben Bernanke ran into a bipartisan buzzsaw of criticism and skepticism during a 5-hour pitch for their massive bailout plan on Capitol Hill today, the Washington Post reports. Afterward, Sen. Chris Dodd, the Democratic chair of the Senate's banking panel, flatly declared the plan "unacceptable." And Sen. Richard Shelby, the panel's ranking Republican, suggested that Congress pursue "some alternatives."http://www.newser.com/story/38211/tough-sale-paulson-bernanke-cant-sway-critics.html?refid=rss_all_defaultTue, 23 Sep 2008 16:07:37 CDThttp://www.newser.com/story/38196/without-bailout-recession-likely-bernanke.html?refid=rss_all_defaultBen Bernanke bluntly warned Congress today that they risk a recession if they fail to pass the Bush administration's $700 billion plan to bail out the financial industry. "The financial markets are in quite fragile condition and I think absent a plan they will get worse," Bernanke said, warning that failed credit markets would lead to more job losses, foreclosures and GDP contraction.http://www.newser.com/story/38196/without-bailout-recession-likely-bernanke.html?refid=rss_all_defaultTue, 23 Sep 2008 12:42:41 CDThttp://www.newser.com/story/38158/candidates-decry-crisis-but-dont-change-plans.html?refid=rss_all_defaultThough John McCain and Barack Obama are both on board with the White House's $700-billion scheme to bail out Wall Street, they're both still pushing economic plans crafted before the crisis, and likely to be scuttled by it, the Washington Post reports. Although the fiscal situation is, in the words of a former Clinton adviser, “dramatically deteriorated,” neither candidate is taking advantage of the chance to overhaul his plans.http://www.newser.com/story/38158/candidates-decry-crisis-but-dont-change-plans.html?refid=rss_all_defaultTue, 23 Sep 2008 8:15:12 CDThttp://www.newser.com/story/38181/prickly-congress-greets-paulson-bernanke.html?refid=rss_all_defaultBen Bernanke and Henry Paulson implored Congress to swiftly pass a $700 billion bailout bill today, as they testified before the Senate Banking Committee. But there was an air of skepticism in the room. Chairman Chris Dodd’s introduction was noticeably prickly, and ranking Republican Richard Shelby was outright hostile, saying the plan rescued “the same financial institutions that created this crisis with their sloppy underwriting and reckless disregard for the risks.”http://www.newser.com/story/38181/prickly-congress-greets-paulson-bernanke.html?refid=rss_all_defaultTue, 23 Sep 2008 10:05:42 CDT