Bush administration asks Congress for OK to spend ...

Date: Sat, 20 Sep 2008 09:29:03 -0400

Bush administration asks Congress for OK to spend up to $700 billion in
mortgage assets in financial rescue.

SEC makes temporary short-sale ban on 799 financial institutions

Date: Fri, 19 Sep 2008 05:26:38 -0400

SEC makes temporary short-sale ban on 799 financial institutions
9/19/2008 5:23:03 AM

Breaking News: Treasury to insure money market mutual funds

Date: Fri, 19 Sep 2008 07:10:45 -0500

WASHINGTON - The Treasury Department says it will tap a Depression-era
fund to provide guarantees for the nation's money market mutual funds.
Meanwhile, the Securities and Exchange Commission took the dramatic step
early
Friday of temporarily banning the routine practice of betting against
company stocks.

Regulators shut down W. Va.-based Ameribank, 12th bank to fail this year

Date: Fri, 19 Sep 2008 19:39:53 -0400

Regulators shut down W. Va.-based Ameribank, 12th bank to fail this
year
9/19/2008 7:36:03 PM

Markets Friday, 09/19/2008

Friday, 9/19/2008

| Dow : 11388.44 up 368.75

| S & P : 1255.08 up 48.57

| NASDAQ: 2273.90 up 74.80

| Bond (10Y): 3.80%, 101.59

MARKETS:
Dow jumps 369 points
Wall Street surges as the government moves to stem the financial market
crisis. Two-day gain of over 7% is the best in 6 years.

U.S. stock market welcomes bailout plan; indexes off early highs

Date: Fri, 19 Sep 2008 17:03:51 -0400
U.S. stock market welcomes bailout plan; indexes off early highs

U.S. stock indexes rocket higher, with the major stock indexes wiping
out a week of shattering losses, as Wall Street cheers the government's
effort to unfreeze credit markets as well as the plans to move against
short sellers.

Companies try to scramble aboard SEC short selling lifeboat

SAN FRANCISCO
Several companies tried to climb aboard the Securities and Exchange
Commission's short selling lifeboat on Friday.

U.S. readies broad rescue plan for financial crisis

The U.S. government begins to spell out a broad-based plan to rescue the
struggling financial system -- one that will cost "hundreds of billions
of dollars" and will relieve banks of bad assets and rein in abusive
trading. Stock investors respond enthusiastically, but investors sell
down Treasurys and the dollar.

Market surge buys Morgan Stanley some time as talks continue

A strong stock market rebound gives Morgan Stanley some breathing room,
a person familiar with the situation says.

FundWatch: Washington moves to shore up money-market funds

The U.S. government acts to prevent a broad collapse in the money-market
industry as the $3.5-trillion sector saw hundreds of billions of dollars
head for the exits.

Todd Harrison: Will the recovery arrive after cancer or a car crash?

Todd Harrison takes a look at the painful place the financial markets
are in, and wonders if the recovery will arrive after a quick and
destructive crash or a drawn-out illness.

The Dow ends its most turbulent week in recent memory with a 366 point gain Friday, just below last week's close.

Date: Fri, 19 Sep 2008 16:02:08 -0400

The Dow ends its most turbulent week in recent memory with a 366 point
gain Friday, just below last week's close.

Stocks surge more than 3% Friday, but indexes end volatile week virtually flat

Date: Fri, 19 Sep 2008 16:06:06 -0400

Stocks surge more than 3% Friday, but indexes end volatile week
virtually flat
9/19/2008 4:02:43 PM

Stocks extend rally, with Dow gain reaching 463 points, on relief about government credit moves.

Date: Fri, 19 Sep 2008 12:38:03 -0400

Stocks extend rally, with Dow gain reaching 463 points, on relief about
government credit moves.

U.S. stock market rejoices over bailout plan

Date: Fri, 19 Sep 2008 12:02:56 -0400
U.S. stock market rejoices over bailout plan

U.S. stock indexes rocket higher as Wall Street cheers a plan from the
Treasury and Federal Reserve to unfreeze the credit markets, as well as
regulators' plans to move against short sellers.

SEC bans short selling in hundreds of financial stocks

The Securities and Exchange Commission early Friday issues an emergency
order temporarily banning short selling in the shares of nearly 800
financial institutions.

ETF Focus: New SEC rules could boost short ETFs as trading volume
surges

Securities and Exchange Commission rules that went into effect Thursday
designed to stop so-called "naked" short selling could prove to be a
boon for a rapidly growing segment of the market for exchange-traded
funds.

Treasury moves to calm money-market investors

In the latest step designed to stem the turmoil in financial markets,
the U.S. Treasury says it will guarantee money-market funds so that no
other fund "breaks the buck."

Metals Stocks: Gold tumbles most in 25 years after rescue plan

Gold futures stumble as traders exit positions following the precious
metal's sharp rally over the prior two sessions, pulling back in
reaction to word of a U.S. rescue plan to help revive crippled financial
institutions.

President Bush says unprecedented plan to insure money market funds will protect consumers' deposits.

Date: Fri, 19 Sep 2008 10:53:03 -0400

President Bush says unprecedented plan to insure money market funds will
protect consumers' deposits.

Federal Reserve says it will expand short-term lending to banks as part of an effort to prop up money market mutual funds.

Date: Fri, 19 Sep 2008 08:36:03 -0400

Federal Reserve says it will expand short-term lending to banks as part
of an effort to prop up money market mutual funds.

Fed taking new liquidity measures, including buying Fannie and Freddie debt

Date: Fri, 19 Sep 2008 08:40:45 -0400

Fed taking new liquidity measures, including buying Fannie and Freddie
debt
9/19/2008 8:36:07 AM

U.S. stocks leap at Friday's open; financials surge; tech-led Nasdaq up 5.4%

Date: Fri, 19 Sep 2008 09:36:53 -0400

U.S. stocks leap at Friday's open; financials surge; tech-led Nasdaq up
5.4%
9/19/2008 9:33:17 AM

Shanghai stocks up 9.4% after government rescues markets

Date: Thu, 18 Sep 2008 23:16:46 -0400

Shanghai stocks up 9.4% after government rescues markets
9/18/2008 11:12:57 PM

U.S. plans what may be most comprehensive fix yet for credit crunch - to take on mortgage debt from banks.

Date: Thu, 18 Sep 2008 20:31:02 -0400

U.S. plans what may be most comprehensive fix yet for credit crunch -
to take on mortgage debt from banks.

SEC moving to temporarily ban short selling: report

Date: Thu, 18 Sep 2008 19:44:53 -0400

SEC moving to temporarily ban short selling: report
9/18/2008 7:41:24 PM

Markets Thursday, 09/18/2008

Thursday, 9/18/2008

| Dow : 11019.69 up 410.03

| S & P : 1206.51 up 50.12

| NASDAQ: 2199.10 up 100.25

| Bond (10Y): 3.54%, 103.78

MARKETS:
Wild rally at the finish
Dow gains 410 on talk of a long-term government solution to the current
turmoil.

Nasdaq leaps 100 points, Dow gains 401 as hopes rise for financial-crisis fix

Date: Thu, 18 Sep 2008 16:07:25 -0400

Nasdaq leaps 100 points, Dow gains 401 as hopes rise for
financial-crisis fix
9/18/2008 4:03:57 PM

Fueled by central bank injections, U.S. stocks bounce back

Date: Thu, 18 Sep 2008 12:03:19 -0400
Fueled by central bank injections, U.S. stocks bounce back

U.S. stocks rally in early action, with the market playing off the move
by Federal Reserve and other central banks to pump billions into the
financial system in an attempt to ease the flow of credit.

Metals Stocks: Gold extends gains after $70 spike on Wednesday

The rally in gold extends into a second session as the turmoil in
financial markets led the Fed and five other central banks to take
further efforts to get money markets moving again.

As financials crater, Kraft Foods becomes latest Dow component

Kraft Foods Inc. on Sept. 22 will be added to the Dow Jones Industrial
Average, replacing troubled insurance giant American International
Group.

Morgan Stanley slips as it courts merger

Morgan Stanley shares suffer as the broker considers a merger, possibly
with Wachovia.

Buffett in deal to buy Constellation Energy Group at a discount

Warren Buffett says his MidAmerican Energy arm will buy Constellation
Energy for $4.7 billion.

U.S. leading economic indicators down in August

Date: Thu, 18 Sep 2008 10:09:07 -0400

U.S. leading economic indicators down in August
9/18/2008 10:04:22 AM

Dow industrials up 180 points early Thursday

Date: Thu, 18 Sep 2008 10:04:00 -0400

Dow industrials up 180 points early Thursday
9/18/2008 10:00:34 AM

Stocks open higher after central banks worldwide agree to pump $180 billion into markets to calm financial distress.

Date: Thu, 18 Sep 2008 09:32:20 -0400

Stocks open higher after central banks worldwide agree to pump $180
billion into markets to calm financial distress.

Kraft Foods to replace AIG in Dow Jones Industrial Average

Date: Thu, 18 Sep 2008 09:27:28 -0400

Kraft Foods to replace AIG in Dow Jones Industrial Average
9/18/2008 9:24:08 AM

Claims for initial unemployment benefits show surprise rise to 455,000 last week, Dow Jones reports.

Date: Thu, 18 Sep 2008 08:32:20 -0400

Claims for initial unemployment benefits show surprise rise to 455,000
last week, Dow Jones reports.

Fed, other central banks to inject $180 billion into financial system

Date: Thu, 18 Sep 2008 03:46:22 -0400

Fed, other central banks to inject $180 billion into financial system
9/18/2008 3:42:36 AM

Shares of Morgan Stanley lower, Wachovia higher on report of formal merger talks

Date: Thu, 18 Sep 2008 08:18:09 -0400

Shares of Morgan Stanley lower, Wachovia higher on report of formal
merger talks
9/18/2008 8:14:29 AM

Hong Kong stocks fall 7%; down 22% on week

Date: Thu, 18 Sep 2008 00:15:08 -0400

Hong Kong stocks fall 7%; down 22% on week
9/18/2008 12:12:06 AM

Dow at lowest level since October 2005; major indexes down 20% so far this year

Date: Wed, 17 Sep 2008 16:31:41 -0400

Dow at lowest level since October 2005; major indexes down 20% so far
this year
9/17/2008 4:28:33 PM

Gold surges as investors rush to safety

Date: Wed, 17 Sep 2008 17:03:58 -0400
Gold surges as investors rush to safety

Gold scores its biggest daily gain in a generation in dollar terms as
investor worries about a financial meltdown spur a rush into the
safe-haven metal.

AIG's businesses for sale as bailout buys insurer time

The $85 billion government bailout of the insurance giant buys it some
time to sell businesses such as its aircraft-leasing unit, the
asset-management division and even its market-leading life insurance and
property and casualty operations, experts say.

Stock decline could force Morgan to pursue merger: report

Shares of Morgan Stanley are down as much as 30% after the firm
pre-announces earnings and investors react to speculation the company
may be compelled to hunt for a suitor if the stock continues to fall.

Japan, Australia pump $31.9 billion into markets

The Bank of Japan injects 2 trillion yen ($18.8 billion) into money
markets Wednesday morning, the second straight day it has undertakes
special operations to help ensure ample liquidity during the global
financial market turmoil.

Markets Wednesday, 09/17/2008

Wednesday, 9/17/2008
| Dow : 10609.66 down 449.36

| S & P : 1156.39 down 57.21

| NASDAQ: 2098.85 down 109.05

| Bond (10Y): 3.41%, 104.84

MARKETS:
Another thrashing for stocks
Dow's 449-point drop is second worst of the year as AIG bailout spreads
fears about financial sector to Goldman, Morgan Stanley.

U.S. stocks down steeply on AIG-induced anxiety

Date: Wed, 17 Sep 2008 12:03:09 -0400
U.S. stocks down steeply on AIG-induced anxiety

NEW YORK
U.S. stocks dived deeply on Wednesday as investors questioned whether
the government's rescue of American International Group Inc. would stop
financial sector hemorrhaging and as home building tumbled again in
August.

Uncle Sam blinks, steps in to bail out AIG

The U.S. government late Tuesday took control of giant insurer American
International Group, reversing its position from just hours earlier and
acknowledging that the company's failure would have tossed the world's
financial system into chaos.

Japan, Australia pump $31.9 billion into markets

The Bank of Japan injects 2 trillion yen ($18.8 billion) into money
markets Wednesday morning, the second straight day it has undertakes
special operations to help ensure ample liquidity during the global
financial market turmoil.

Economic Report: Home building weakens further in August

Home building tumbles again in August, with the number of new building
permits for single-family homes dropping to a 26-year low, the Commerce
Department estimates.

FundWatch: Fund managers gloomier on economy in September, survey says

The number of fund managers taking the view that the global economy is
in recession rose sharply in September, according the Merrill Lynch's
monthly survey.

Stocks extend their slide, with Dow down 350 points, on financial sector jitters and weak housing data.

Date: Wed, 17 Sep 2008 11:34:03 -0400

Stocks extend their slide, with Dow down 350 points, on financial sector
jitters and weak housing data.

Housing starts and building permits tumble much more than expected in August, signaling further weakness in housing sector.

Date: Wed, 17 Sep 2008 08:32:08 -0400

Housing starts and building permits tumble much more than expected in
August, signaling further weakness in housing sector.

In a stunning turn, Fed says it will loan up to $85B to AIG to avoid 'disorderly failure' - U.S. to get 79.9% of troubled insurer.

Date: Tue, 16 Sep 2008 21:05:19 -0400

In a stunning turn, Fed says it will loan up to $85B to AIG to avoid
'disorderly failure' - U.S. to get 79.9% of troubled insurer.

Markets Tuesday, 09/16/2008

Tuesday, 9/16/2008

| Dow : 11059.02 up 141.51

| S & P : 1213.60 up 20.90

| NASDAQ: 2207.90 up 27.99

| Bond (10Y): 3.49%, 104.22

MARKETS:
Stocks rise on Fed, AIG
Investors breathe a sigh of relief that the central bank's outlook was
not more bearish.

U.S. stocks rally to close higher on hopes for AIG rescue

Date: Tue, 16 Sep 2008 17:04:21 -0400
U.S. stocks rally to close higher on hopes for AIG rescue

U.S. stocks head into the last hour of trading in dramatic fashion,
plunging after the Federal Reserve refused to cut interest rates, then
leaping back on reports the government might extend a loan to embattled
insurer American International Group Inc.

Senate banking chief wants more housing aid, eyes stimulus

Sen. Dodd calls for more aid to homeowners and possibly an additional
economic stimulus package, saying the U.S. faces a deepening economic
crisis.

The Fed: Fed leaves rates at 2%, projecting calm during storm

Trying to project an appearance of calm and stability amid the turmoil
of financial markets, the Federal Reserve holds its benchmark Fed funds
rate at 2.0%.

Economic Report: Consumer prices fall 0.1% on weaker energy prices

With energy prices falling sharply, U.S. consumer prices declined 0.1%
in August, the first decrease in nearly two years, the Labor Department
reported Tuesday.

Goldman profit falls 70%, CFO rules out bank deal

Goldman Sachs adds to the mounting sense of gloom on Wall Street Tuesday
when it reports that third-quarter profit plunged 70% from a year ago as
business slowed across the board and the firm posts more than $800
million in losses from sour residential and commercial real estate
assets.

Morgan Stanley up 12% in evening trades after early release of quarterly results

Date: Tue, 16 Sep 2008 16:27:53 -0400

Morgan Stanley up 12% in evening trades after early release of quarterly
results
9/16/2008 4:24:38 PM

Oil settles $4.56 lower to $91.15 a barrel - a seven month low - on fears of falling demand in a slowing economy .

Date: Tue, 16 Sep 2008 14:57:03 -0400

Oil settles $4.56 lower to $91.15 a barrel - a seven month low - on
fears of falling demand in a slowing economy .

Fed makes no change in interest rates

Date: Tue, 16 Sep 2008 14:18:19 -0400

Fed makes no change in interest rates
9/16/2008 2:14:47 PM

U.S. stocks erase losses amid hopes of AIG rescue

Date: Tue, 16 Sep 2008 12:02:55 -0400
U.S. stocks erase losses amid hopes of AIG rescue

NEW YORK
U.S. stocks on Tuesday erased losses and tilted higher amid reports the
federal government might intervene to prevent a possible collapse of
giant insurer American International Group Inc.

The Fed: Market looks for rate cut, but it's not certain

Financial markets are betting on an interest-rate cut by the Federal
Reserve some time this month, but it's not certain that the central bank
will deliver it at Tuesday's regularly scheduled meeting of its
rate-setting panel.

Economic Report: Consumer prices fall 0.1% on weaker energy prices

With energy prices falling sharply, U.S. consumer prices declined 0.1%
in August, the first decrease in nearly two years, the Labor Department
reported Tuesday.

Goldman profit falls 70%, CFO rules out bank deal

NEW YORK
Goldman Sachs added to the mounting sense of gloom on Wall Street
Tuesday when it reported that third-quarter profit plunged 70% from a
year ago as business slowed across the board and the firm posted more
than $800 million in losses from sour residential and commercial real
estate assets.
Barclays in talks to buy Lehman's core U.S. business

Barclays, the U.K. bank that dropped out of negotiations to buy Lehman
Brothers over the weekend, is back in talks with the failed group to
snap up its U.S. broker-dealer operations.

Breaking News: Goldman Sachs net income plunges 70%

Date: Tue, 16 Sep 2008 07:44:45 -0500

NEW YORK(Reuters)- Goldman Sachs Group said Tuesday that third-quarter
earnings plunged 70% as a market slump weighed on banking and trading
results.

AIG shares plummet 67% as the nation's biggest insurer scrambles to raise capital after being hit by credit raters.

Date: Tue, 16 Sep 2008 09:36:03 -0400

AIG shares plummet 67% as the nation's biggest insurer scrambles to
raise capital after being hit by credit raters.

AIG shares plummet 67% as the nation's biggest insurer scrambles to raise capital after being hit by credit raters.

Date: Tue, 16 Sep 2008 09:36:03 -0400

AIG shares plummet 67% as the nation's biggest insurer scrambles to
raise capital after being hit by credit raters.

U.S. consumer prices down 0.1% in August

Date: Tue, 16 Sep 2008 08:36:25 -0400

U.S. consumer prices down 0.1% in August
9/16/2008 8:32:37 AM

U.S. consumer prices down 0.1% in August

Date: Tue, 16 Sep 2008 08:36:25 -0400

U.S. consumer prices down 0.1% in August
9/16/2008 8:32:37 AM

Goldman Sachs breezes past earnings estimates but falls short of revenue forecast.

Date: Tue, 16 Sep 2008 08:20:07 -0400

Goldman Sachs breezes past earnings estimates but falls short of revenue
forecast.

Consumer prices drop 0.1% month to month in August. Annual rate eases to 5.4%.

Date: Tue, 16 Sep 2008 08:32:23 -0400

Consumer prices drop 0.1% month to month in August. Annual rate eases to
5.4%.

Dow industrials off 125 points early Tuesday; S&P 500 retreats 1.5%

Date: Tue, 16 Sep 2008 09:38:35 -0400

Dow industrials off 125 points early Tuesday; S&P 500 retreats 1.5%
9/16/2008 9:35:11 AM

Markets Monday, 09/15/2008

Monday, 9/15/2008

| Dow : 10917.51 down 504.48

| S & P : 1192.70 down 59.00

| NASDAQ: 2179.91 down 81.36

| Bond (10Y): 3.39%, 104.59

MARKETS:
Stocks get crushed
Wall Street socked by biggest crisis in years, with the Dow down over
400 points, as the Lehman bankruptcy, Merrill buyout, AIG cash scramble
rattle investors.

Lehman files for bankruptcy protection in historic collapse

Date: Mon, 15 Sep 2008 17:04:00 -0400
Lehman files for bankruptcy protection in historic collapse

Wall Street struggles to adjust to a new industry order as Lehman
Brothers' bankruptcy filing rocked investors and pulled down financial
stocks around the globe.

Fed adds most cash since September 2001; Treasurys soar

The Federal Reserve adds the most money to the banking system since the
aftermath of the Sept. 11, 2001, terrorist attacks in the wake of Lehman
Brothers' bankruptcy, Merrill Lynch's demise and AIG's need for cash.

Economic Report: Industrial production drops 1.1% in August

Led by a big drop in auto production, U.S. industrial output plunges
1.1% in August, the biggest drop since Hurricane Katrina three years
ago.

Fearing its own collapse, Merrill sells to Bank of America

Merrill Lynch & Co., navigating in a global financial storm, agreed to
be bought by Bank of America Corp. in an all-stock deal the companies
valued at $50 billion.

NY Gov. Paterson says state will effectively lend AIG $20 billion and urges Fed to step up as well.

Date: Mon, 15 Sep 2008 12:20:06 -0400

NY Gov. Paterson says state will effectively lend AIG $20 billion and
urges Fed to step up as well.

China's central bank cutting lending rate by 27 basis points

Date: Mon, 15 Sep 2008 05:36:45 -0400

China's central bank cutting lending rate by 27 basis points
9/15/2008 5:33:37 AM

News Alert! Dow Drops 300 At Open On Lehman News

Date: Mon, 15 Sep 2008 09:47:02 -0400

The Dow Jones Industrials fell more 300 points at the opening, reacting
to bad news about Lehman Brothers and Merrill Lynch.

AIG seeks $40 billion loan from Fed: report

Date: Sun, 14 Sep 2008 23:59:40 -0400

AIG seeks $40 billion loan from Fed: report
9/14/2008 11:56:26 PM

Bank of America, in capstone to extraordinary day on Wall Street, says it has bought Merrill Lynch in $50 billion all-stock deal.

Date: Mon, 15 Sep 2008 02:02:08 -0400

Bank of America, in capstone to extraordinary day on Wall Street, says
it has bought Merrill Lynch in $50 billion all-stock deal.

Dow industrials down 325 points; AIG, off 51%, is index's top decliner

Date: Mon, 15 Sep 2008 09:45:59 -0400

Dow industrials down 325 points; AIG, off 51%, is index's top decliner
9/15/2008 9:42:19 AM

Bank of America to buy Merrill Lynch for $44 billion

Date: Sun, 14 Sep 2008 21:11:08 -0400

Bank of America to buy Merrill Lynch for $44 billion
9/14/2008 9:08:00 PM

Fed to boost lending to banks by accepting broader set of collateral - aims to 'mitigate the potential risks' facing markets.

Date: Sun, 14 Sep 2008 21:46:03 -0400

Fed to boost lending to banks by accepting broader set of collateral -
aims to 'mitigate the potential risks' facing markets.

Oil falls $1.50 a barrel at start of special trading session called because of Hurricane Ike, which has shuttered many refineries.

Date: Sun, 14 Sep 2008 10:07:03 -0400

Oil falls $1.50 a barrel at start of special trading session called
because of Hurricane Ike, which has shuttered many refineries.

Bank of America, Merrill Lynch in merger talks: Wall Street Journal

Date: Sun, 14 Sep 2008 16:18:22 -0400

Bank of America, Merrill Lynch in merger talks: Wall Street Journal
9/14/2008 4:15:11 PM