Bailout talks advance as Bush, Democrats turn optimistic

Date: Fri, 26 Sep 2008 17:04:07 -0400
Bailout talks advance as Bush, Democrats turn optimistic

Washington bargaining on the bailout package presses ahead, as House
Republicans return to the negotiating table and lawmakers said they'll
put off a scheduled recess to complete work on the $700 billion
package.

WaMu fails, sold to J.P. Morgan Chase for $1.9 billion

In the largest bank failure in U.S. history, Washington Mutual Inc.
succumbed Thursday to the fallout from the subprime mortgage crisis, was
seized by federal regulators and rapidly acquired by J.P. Morgan Chase
for $1.9 billion.

Market Snapshot: U.S. stocks end with weekly losses on bailout
uncertainty

U.S. stock indexes are mixed with investors adopting a tentative
approach amid the political haggling over the administration's rescue
plan for the financial sector in the midst of the nation's largest bank
failure on record.

Economic Report: Second-quarter GDP growth revised to 2.8% in final
estimate

Growth in the U.S. economy for the second quarter gets revised lower, to
a 2.8% annual rate, held back by weaker spending by consumers and
businesses alike, according to the Commerce Department's final estimate
of growth.

Research In Motion sinks on disappointing forecast

Shares of Research In Motion tumble more than 25% Friday after the
company reports a surge in second-quarter earnings but spooked investors
worried about its growing expense line.