Meltdown Scenarios If U S Financial Markets Collapse
Experts warn without a government rescue, banks may freeze payrolls as accounts are frozen, credit cards could be rejected, and banks might close. Treasury and Fed leaders warn of recession and rising unemployment if no plan acts, with bank failures triggering a wider liquidity crisis and tighter lending.
MENTIONED IN THIS ARTICLE
Miami
U.S
Treasury
Henry Paulson
Senate
Federal Reserve
Ben Bernanke
Bernanke
Paulson
Mark J. Flan
Nery
University of Florida
Kent Thomas
Bear Stearns
Freddie Mac
Fannie Mac
Krishnan Dandapani
Florida International University Finance
Bush Warns Economy in Danger Without Rescue Plan
President Bush in a White House address warned Congress that failure to pass a 700 billion financial rescue plan could trigger a financial panic, widespread foreclosures, job losses, and a deep recession, as conservatives oppose the price tag and scope. He argued the move aims to stabilize the economy, not save individual firms, and stressed a strong government role amid rising panic.
MENTIONED IN THIS ARTICLE
Washington
Bush
Congress
White House East Room
Republican Party
House votes to end offshore drilling ban
The House approved 370 to 58 ending a 25 year ban on oil and gas drilling off Atlantic and Pacific coasts, a GOP energy push. The measure moves to the Senate as Obama and McCain back limited offshore access within a broader energy plan. Leaks may apply after 2011 leases under the five year plan. Pelosi criticized the veto threat and government shutdown risk.
MENTIONED IN THIS ARTICLE
Washington
House
Atlantic
Pacific
Bush
Senate
White House
John McCain
McCain
Barack Obama
Interior Department
Nancy Pelosi
Wall Street
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Martha Brannigan
McClatchy Newspapers
Vicky Christina Barcelona Esis
Hamlet
Ye Electric & Industrial Supply Inc. Pump & Well Drilling, Inc
Hollywood
Southwind
Erna Ly
Ruend
Eadleeye
Moonight Trursda
Aweview Terrace
TOL AD
Jennifer Loven
Associated Press
StrangerCrashParts.com
Eagles Lodge
23Rd
Louisiana
Zarco66.com
Sth
Lowa
Diesel
Scar E MCC
Iowa
Lawrence, KS
toWiece
Kelli Henderson
Dds
Wakarusa
CAR Rentals
Buen
Haskell Ave
Oktoberfe
Kentucky
Lawrence
Kansas
Willkommen
Ed Grisnick
Bill Keel
Saint-Johns
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