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McCain, Obama clash over causes, cures of crisis
Barack Obama and John McCain clashed repeatedly over the causes and cures for the worst economic crisis in 80 years Tuesday night in a debate in which Republican McCain called for a sweeping $300 billion program to shield homeowners from mortgage foreclosure.
Nations:Afghanistan North Korea Pakistan Russia People:Barack Obama John McCain Tom Brokaw Activities:US Election 2008 Source:(AP)
2008-10-07
Retirement accounts have lost $2 trillion so far
Americans' retirement plans have lost as much as $2 trillion in the past 15 months -- about 20 percent of their value -- Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs.
Nations:U.S. People:Dennis Kucinich Activities:2007 Global Credit Crunch 1929 Great Depression Source:(AP)
2008-10-07
Stocks tumble as Street worries about financials
The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector.
Nations:Germany Japan France Australia People:Ben Bernanke Activities:2007 Global Credit Crunch U.S. Markets
2008-10-07
Fed to buy massive amounts of short-term debt
WASHINGTON - The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy.
Nations:U.S. Germany People:Henry Paulson Ben Bernanke Activities:2007 Global Credit Crunch
2008-10-07
Asian markets mixed after Australia's big rate cut
SEOUL, South Korea – Asian stocks were mixed Tuesday as a big interest rate cut in Australia helped spur recoveries in several regional markets, sparking hopes that other central banks will lower rates to help loosen the global credit crunch.
Nations:Australia South Korea Japan France Activities:Asian Markets 2007 Global Credit Crunch
2008-10-07
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Matches Shown: | 1-50 | 51-100
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