Bailout Proposal Seeks $700 Billion to Stabilize Markets
A congressional plan to fund up to 700 billion dollars aims to revive lending by purchasing troubled mortgage securities. Winners include Wall Street, banks, lenders, and investors while top bankers face pay caps. Homeowners and homeowners equity prospects remain limited. Critics say it fails to fix root causes of the crisis.
MENTIONED IN THIS ARTICLE
Washington, D.C
U.S
Wall Street
Congressional Aide
Treasury Department
Peter Morici
University of Maryland
North Dakota Farmers Open Founding Farmers in DC
North Dakota farmers spent 6 million to open a new Washington eatery showcasing farmed foods. Founding Farmers bills itself as Washingtons greenest restaurant with an eco friendly design and aims for profit through right method. Ralph DeRose, general manager, says the venture proceeds despite downturns and high food prices.
MENTIONED IN THIS ARTICLE
Washington, D.C
North Dakota
Washington
Ralph DeRose
Founding Farmers
North Dakota Farmers Union
Vintage car auction in Maine nets million-dollar bids
In Owls Head Maine bidders paid 887000 for a 1910 Mercedes four seat Tourabout and 832000 for a 1913 Rolls-Royce Silver Ghost. The Friday and Saturday event drew about 500 attendees plus remote bidders from around the world.
MENTIONED IN THIS ARTICLE
Owls Head Maine
Maine
Owls Head
Congress and White House agree on 700 billion financial rescue
Congressional leaders and the White House agreed on a 700 billion rescue of the financial industry. The plan lets the government buy devalued mortgage assets to unfreeze credit with phased spending and congressional oversight. House action was set for Monday with a vote likely after Senate input.
MENTIONED IN THIS ARTICLE
White House
Washington, D.C
Bush
U.S
Congress
Wall Street
Capitol Hill
Harry Reid
D-Nev
House
Pevanely
Wall
Chris Dodd
Senate Banking, Housing and Urban Affairs Committee
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Southside
Whiskey Road
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By Julie Hirschfeld
Davis Associated Press
Treasury
Henry Paulson
Senate
Judd Gregg
R-N.h
Banking, Housing, and Urban Affairs
Christopher Dodd
D-Conn
Dental Implant Center
Dr. R. Eoward Parrish
Aiken
Vernon Williams
Hampton Ave
Sundance Mr
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