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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Morning Briefing

The calm after the storm?

It's early, but so far no U.S. banks have failed and after a steep plunge, overseas stocks staged a comeback in some parts of the world. U.S. stock futures are actually indicating the mood has shifted on Wall Street and the markets may open up this morning. What a difference a day makes.

The difference appears to be the moves taken by government officials in Europe to shore up the financial system across the pond and keep the financial crisis from spreading. France and Belgium took early morning steps today to rescue the troubled bank Dexia, providing a $9.2 billion capital infusion. Officials elsewhere in Europe appear to be drumming up more coordinated plans to deal with the crisis, as The Post's Edward Cody and Mary Jordan report from our bureaus overseas.

What's next? President Bush plans to make remarks this morning, perhaps outlining where to go from here and urging Congress to get back to the negotiating table after the House killed the $700 billion bailout bill yesterday.

This morning, The Post's columnist Steven Pearlstein has his take on the drama that unfolded yesterday.

Check back here throughout the day for the latest developments.

--Sara Goo

By Sara Goo  |  September 30, 2008; 7:04 AM ET
Categories:  The Ticker  
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I am sure everyone who voted 'no' had their stock brokers sell everything the day before. Now they are having them buy everything back today because they will vote 'yes'. Insider trading at the highest levels and at the expense of the rest of the country.

Posted by: disgusted | September 30, 1908 7:41 AM | Report abuse

Gregg to Wall Street: Yessuh, massa. We'ze a working. Our lobbyists are drafting more good deals. 110 pages was just a start.

Pelosi to Goldman: Yes, master. Not only will you own our infrastructure (the Dulles Parkway owned by CINTRA financed by Goldman), you will own the American People. Soon.

Pelosi to Little People: Millions of jobs are at stake."

Forget the tens of millions of jobs that these guys outsourced. Why, heck, the Human Resources guys at the regulatory agencies and the FBI wrote papers on outsourcing. Why the FBI sends their managers to Kellogg (Cornflakes) School of Management, the same one that Paulson, Goldman CEO, is on the board. No one will go to jail.

Just send in a blank check to Obama's and McCain's big money donors. Pay up.


Posted by: Obscene | September 30, 1908 8:02 AM | Report abuse

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