Archives: October 2008

The New Banks Taking U.S. Dollars

Posted by: Dan Beucke on October 25, Categories:

The Treasury Department continues its behind-the-scenes moves to remake the U.S. banking industry. According to the Associated Press, at least a dozen banks announced Monday they are taking or are...

What the Stock Market Says About Obama vs. McCain

Posted by: Theo Francis on October 24, Categories:

These days, there's a lot of talk about what the market is saying. Like a child throwing a tantrum before he can talk, there's no doubt it's unhappy about something;...

More Bank Aid From Treasury's Hank Paulson

Posted by: Jane Sasseen on October 23, Categories:

by Jane Sasseen and Theo Francis Update: As of 6 p.m., no announcement, and word is that none is likely immediately. One possibility: the Treasury could decide not to announce...

2008 Election: The Most Expensive Yet

Posted by: Dan Beucke on October 22, Categories:

By Moira Herbst Spending on the 2008 election cycle has reached a historic high. Total funds raised at the federal level are on track to reach $5.3 billion dollars this...

Joe the Plumber a Drain for McCain?

Posted by: Jane Sasseen on October 16, Categories:

Boy, plumbers haven't made such a splash around the political scene since the Watergate days. Joe the Plumber became America's latest instant celebrity after John McCain repeatedly refered to him...

A Primer for the Dismal Debate

Posted by: Theo Francis on October 15, Categories:

There's little doubt that the economy will be the main event at tonight's final presidential debate. That was true at last week's face-off, too -- the stock-market had plunged, Congress...

Who's Giving to Obama? Not Kerry or Gore

Posted by: Jane Sasseen on October 15, Categories:

From our colleague David Kiley: Former Vice President Al Gore not only has won an Academy Award and Nobel Peace Prize since the last Presidential election, but he has earned...

Paulson Buys Banks: Some Details

Posted by: Theo Francis on October 14, Categories:

As investors chewed over Treasury's plans to invest $250 billion in U.S. banks, the details released this morning offer a few insights into the agency's intentions. Among them: The government...

McCain Sees Obama on the Economy, Raises Stakes

Posted by: Theo Francis on October 14, Categories:

In a speech today in Blue Bell, Pa., John McCain added some planks to his economic platform: more government guarantees for bank deposits, and tax cuts for the unemployed and...

Paulson Buys Up The Banks

Posted by: Jane Sasseen on October 13, Categories:

by Jane Sasseen and Theo Francis U.S. Treasury Secretary Henry Paulson appeared close to completing a deal on the next stage of the massive package to rescue the financial sector...

Obama Ups the Ante On the Economy

Posted by: Jane Sasseen on October 13, Categories:

In a speech today in Toledo, Ohio that his campaign billed as a major new policy address, Senator Barack Obama unveiled a new "rescue plan" for the middle class. Though...

European Moves Bring Focus Back to Washington

Posted by: Theo Francis on October 12, Categories:

After a weekend of speculation, European leaders promised to make billions of Euros available in a bid to revive bank-to-bank lending, buying stakes in financial institutions and guaranteeing loans among...

Standing Shoulder to Shoulder, But What's Next?

Posted by: Theo Francis on October 10, Categories:

In a one-page "Plan of Action" issued this evening, the finance ministers and central-bank governors of the G-7 called for "urgent and exceptional action"; declared five principles to guide the...

McCain's New Housing Proposal (Update 2)

Posted by: Jane Sasseen on October 07, Categories:

Lots to mull over in Tuesday night's debate devoted largely to the economy. Both seemed relatively at ease in the town hall format, and neither said anything that looks likely...

Elephant in the Room: Debate Edition

Posted by: Theo Francis on October 07, Categories:

by Theo Francis and Jane Sasseen Early in the first presidential debate, moderator Jim Lehrer asked what seemed to us to be one of the most salient questions of the...

Voters Speak: Give Us Health Care!

Posted by: Jane Sasseen on October 07, Categories:

From our colleague Cathy Arnst: Plenty of political experts think health care reform has dropped to a very low priority in the election in the wake of the financial crisis...

Those Who Throw Stones

Posted by: Steve LeVine on October 07, Categories: Policy

Robert Zoellick, the veteran Republican Party economic and foreign policy hand, says the new economic times demand a significant shakeup of global financial diplomacy. But the World Bank president's suggestion...

What's Next for the Bailout--and The Campaign

Posted by: Jane Sasseen on October 05, Categories:

Some vague sense of calm returned to Washington this weekend, as exhausted staffers from the Treasury Dept, the Fed and Congress -- not to mention the packs of lobbyists who...

McCain's Michigan Moment

Posted by: Dan Beucke on October 04, Categories:

By Stephen Wildstrom Thursday’s debate was a sideshow. The real news of the day was the decision of the McCain campaign to pull its resources out of Michigan. By doing...

House Passes $700 Billion Financial Rescue; President Has Said He'll Sign

Posted by: Theo Francis on October 03, Categories:

In an about-face after a week of market turmoil and legislative maneuvering, the House of Representatives gave the Bush Administration broad authority to invest as much as $700 billion in...

Health Benefit Managers Choose Obama Plan

Posted by: Dan Beucke on October 03, Categories:

Corporations regularly complain about the high cost of providing health insurance to their employees. But in a story she wrote for BusinessWeek, Cathy Arnst says that, surprisingly, a survey of...

Can Palin Stop the Slide?

Posted by: Jane Sasseen on October 02, Categories:

It’s not too often that the vice-presidential debates hold anywhere near the interest of the verbal sparring matches that take place between the main contenders in the presidential race. But...

As Financial Bailout Advances, Jitters in the House

Posted by: Theo Francis on October 02, Categories:

by Theo Francis and Jane Sasseen It's Thursday night and all eyes are on what may prove to be the most-watched vice-presidential debate in history. Friday, however, they will surely...

The Public: Backing the Bailout Bill After All?

Posted by: Jane Sasseen on October 02, Categories:

There's interesting new polling data out today from the Pew Research Center, which does some of the most varied and comprehensive polling around. They say that the public opposition to...

Senate Passes Bailout 74-25

Posted by: Theo Francis on October 01, Categories:

By Theo Francis and Jane Sasseen In the first anti-climax of the legislative drama that started 13 days ago with a market slide and rumblings of a rescue proposal from...

Lobbyists Pull Out All The Stops

Posted by: Jane Sasseen on October 01, Categories:

By Jane Sasseen and Theo Francis Is the Treasury Dept.’s on-again, off-again $700 billion rescue package for the financial markets really on-again, this time around? Throughout Wednesday, optimism was growing...

And here we go again

Posted by: Theo Francis on October 01, Categories:

It's almost as if the financial bail-out bill had passed the House on Monday, instead of collapsing 205-228. Almost. Tonight -- sometime after 7:30, we hear around 9 p.m. --...

Election 2008

Washington Bureau Chief Jane Sasseen and other BusinessWeek writers cover the run-up to the Nov. 4 presidential election, paying close attention to how the candidates will handle issues such as housing, the economy, unemployment, and immigration.

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