Posts Tagged 'financial crisis'

What was Fed chairman’s message?

Matt Wagner, SBJ ReporterIn a taped interview aired Sunday night, Federal Reserve Chairman Ben Bernanke told CBS’ “60 Minutes” that the recession would “probably” end this year if the federal government’s efforts to reinforce the country’s banking system are successful.

Color me cynical, but I didn’t find Bernanke’s comments particularly newsworthy – or reassuring, for that matter.

Continue reading ‘What was Fed chairman’s message?’

Bailout Bill Passes UPDATED

Jeremy Elwood, SBJ ReporterIt’s official – the federal government is spending as much as $700 billion in an attempt to bail out Wall Street.

“We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country,” said President Bush shortly after signing the Emergency Economic Stabilization Act of 2008 into law.

Continue reading ‘Bailout Bill Passes UPDATED’

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