Bear market hits one-year mark with no bottom in sight
The U.S. bear market, now at about a year, has erased over 7 trillion dollars in shareholder value. The Dow fell 35 percent from 14,164 to 9,258 and the S&P 500 shed about 37 percent from 1,565 to 985 as experts warn recovery hinges on housing stability, lending, and jobs.
MENTIONED IN THIS ARTICLE
Chicago
U.S
Wall Street
Standard & Poor
USA Today
S&p
Mark Freeman
Dow
Fed rate cuts may slow crisis with cautious consumer relief
The cuts announced by the Federal Reserve and other central banks are unlikely to fix the financial crisis quickly as banks hesitate to lend. Still, consumers with strong credit could see lower credit card and variable loan rates within one or two billing cycles, while markets faced a Dow drop and S&P decline.
MENTIONED IN THIS ARTICLE
Washington
U.S
Federal Reserve
Carl Weinberg
High Frequency Economics
Fed
Federal Funds
Paulson warns markets strained amid rescue plan push
Treasury Secretary Henry Paulson says global markets remain severely strained and will face challenges. He notes the administration will move quickly to launch the 700 billion rescue program, even as some banks may fail. Central banks coordinated rate cuts aim to stabilize the global economy as work continues on a permanent leadership appointment.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Henry Paulson
Paulson
Federal Reserve
Neel Kashkari
Senate
Bush
Sens
Barack O Obama
John McCain
Congress
White House slams AIG retreat after federal bailout
The White House called it despicable that Ameri trillion Group executives spent hundreds of thousands on a California retreat days after a federal bailout. Investigators noted the trip lacked staff from the risky financial products unit but still involved AIG Life Insurance executives who reportedly spent 440000 on spa banquets golf outings.
MENTIONED IN THIS ARTICLE
Washington
White House
Ameriternational Group, Inc
California
AIG
U.S
Wall Street
Dana Perino
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THE
Associated Press
M. Spencer Green
Bryan Cooley
CME Group
Associated. Press
Guy
Pan
Bsee
Odessa
Santa FE Square
Neuen Ert
Xee
Cas Re
Re Pithd
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