Economy Update9/26/2008
Negotiations over the proposed 700 billion dollar rescue plan of the nation's financial system are still going on tonight. Talks stalled yesterday after House Republicans said they couldn't go along with plans devised by the White House and congressional Democrats. Lawmakers will stay in Washington past today's planned recess for November campaigning until a deal is reached. MultimediaAs the economic storm on Wall Street continues, the FDIC announces another bank buyout. JP Morgan is acquiring Washington Mutual Bank for one point nine billion dollars. The announcement comes after federal regulators seized the ailing bank. This is the second JP Morgan bailout in less than six months. The Stock Market taking a rollercoaster ride today-- mirroring the turmoil in the economy. The Dow did finish up 121 points, to close at 11 thousand 143. The Nasdaq lost three-- to close at 21-83. And the S & P down four, closing at 12-13. Most PopularMore Good StuffAdvertisement
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