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

Treasury Pledges to "Use All the Tools" to Protect Economy

Treasury Assistant Secretary Michele Davis just issued this statement:

"The Secretary will be consulting with the President, the Chairman of the Federal Reserve, and Congressional leaders on next steps. In the meantime, we stand ready to work with fellow regulators and use all the tools at our disposal, as we have over the last several months, to protect our financial markets and our economy."

--David Cho

By Sara Goo  |  September 29, 2008; 3:08 PM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Boehner: No More Votes Today on Bailout
Next: Lawmakers Don't Know What's Next

Comments

couple pretty interesting articles from greenfaucet...

http://www.greenfaucet.com/node/2975
http://www.greenfaucet.com/aussie-nz/are-you-really-prepared-for-whats-coming/02130

Posted by: macebruce | September 29, 1908 3:32 PM | Report abuse

The problem is that no one believes the Bush administration. This mess is ultimately a symptom of his failed leadership. Most Americans felt he used fear and lies to manipulate them into voting for a preemptive strike on Iraq. No one believes in him or trusts him with their money. Probably the first plan giving Paulson full powers would have been the most effective, because he could have finagled and finessed the stock market. But because we do not feel confident in our leaders, no decisive actions can be made.

I am so skeptical about his trustworthiness, that I am really worried about what Bush will do now. Since he ignored the constitution before, maybe Bush will ignore the constitution now and just go ahead with the plan anyway, and thereby not only will our economy have crashed, our freedom will be taken from us forever.

Posted by: Madeleine | September 29, 1908 3:39 PM | Report abuse

This is a VICTORY for DEMOCRACY and a DEFEAT for SOCIALISM!!

CONTACT YOUR REPRESENTATIVES -

The People of this country have spoken. The bailout legislation has been defeated. We oppose the bankers' bailout. Backroom arm-twisting is an unacceptable hijacking of democracy. WE WILL NOT ACCEPT any vote change in favor of the bailout.

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Let the financial chips fall where they may and let the market corrections occur and if the consequences for the American public are dire, WE ARE A STRONG PEOPLE, let us shift through the ashes and rubble of their greed and the excess created to determine how and why this happened. Let Congress use their investigatory power to launch inquiries to determine who should have their assets seized and who is going to prison for this treachery.

This monopoly game is over. It is time to enforce the rules and start over. It is time for many of those in high places to go to jail!

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Posted by: U.S. CITIZEN | September 29, 1908 3:59 PM | Report abuse

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