US EconomyGlobal Markets PlungeBy Michael Bowman WASHINGTON, DC - U.S. stocks opened sharply lower, mirroring losses in Europe, Asia, and much of the developing world. In New York, the Dow Jones Industrial average crossed below an important psychological floor, the 10,000 mark, for the first time since October, 2004. The Dow was more than four percent lower in early trading. It has lost about a quarter of its value this year. Major markets were hard-hit across the globe. Full StoryAsia Stocks Fall in Response to US Bank RescueBy Ron Corben BANGKOK, CHINA - Nervous investors fled markets Monday in Asia. Hong Kong's key Hang Seng Index closed down five percent while Tokyo's benchmark Nikkei 225 index fell to its lowest closing level since February 2004 at 10,473 points. Indonesia's stock market plunged 10 percent, the steepest single day decline on record. Full StoryMcCain, Obama Demand Changes In Financial Bailout
By Kent Klein Washington DC - As Congress debates the enormous package of legislation intended to rescue the troubled American financial industry, Senators Barack Obama and John McCain both seem to agree on some changes they want made. Obama, the Democratic Party nominee, is calling for greater oversight over the massive bailout. Full StoryMike Pence Opposes Bush Admin Bailout Plan
"There are no easy answers but there are alternatives to massive government spending" WASHINGTON, DC - Over the weekend, U.S. Congressman Mike Pence released the following statement in response to the Bush Administration’s plan to bail out the financial market: “Our financial markets are in turmoil and the Administration was right to call for decisive action to prevent further harm to our economy but nationalizing every bad mortgage in America is not the answer. Full Story |
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