We have created a global financial crisis that affected financial institutions worldwide. ...more

September 30, 2008

Ginny Brown-Waite was among the 228 House members who voted against the $700 billion bailout package for the financial industry Monday, calling the measure "embarrassing" and stomach-turning. ...more

September 30, 2008

Calls the measure 'embarrassing.' ...more

September 30, 2008

One could be forgiven for crawling into a fetal position to begin sobbing like a Bronte sister while sucking a bottle of Boodles gin dry after hearing the leader of the free world confidently predict the $700 federal bailout of the nation's financial system will work like a fine Swiss watch. ...more

September 30, 2008

WASHINGTON - A federal grand jury is investigating accounting and disclosure issues at Fannie Mae and Freddie Mac, the mortgage finance companies said Monday. ...more

September 29, 2008

The Bush administration and congressional negotiators agreed Friday to meet some demands of rebellious House Republicans as they sought to resurrect a $700 billion rescue plan for the nation's financial system that the critics said relied too much on government intervention. ...more

September 27, 2008

Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators Thursday night in an 11th-hour bid to prevent the largest bank failure in American history. ...more

September 26, 2008

As officials in Washington raced to put together a bailout plan for the nation's teetering financial system, Sen. John McCain hammered Sen. Barack Obama as part of the problem while Obama said any rescue should include a new stimulus package for families. ...more

September 20, 2008

WASHINGTON - The Bush administration sketched out a multifaceted effort on Friday to confront the worst U.S. financial crisis in decades, outlining a program that could cost taxpayers hundreds of billions of dollars to buy up bad mortgages and other toxic debt that has unhinged Wall Street. ...more

September 19, 2008

In another breathtaking display of government intervention, top officials at the Treasury Department and Federal Reserve began discussing with congressional leaders a plan to buy up vast numbers of distressed mortgages held by ailing financial institutions. ...more

September 19, 2008