From student loans to credit card debt, consumers are feeling the pinch from a tightening credit market. Tuesday, Treasury Secretary HenryPaulson announced two programs worth $800 billion to increase lending.
Treasury Secretary HenryPaulson says he won't apologize to Congress for changing the focus of the $700 bailout plan. The program will not buy troubled assets as originally planned.
Treasury Secretary HenryPaulson announced Tuesday that the government will buy stock in nine US banks. Some Congressional lawmakers applauded the move but said other regulation is needed to protect consumers.
In a Rose Garden speech, President George W. Bush said the federal government's financial rescue plan is aggressive, but will take time to work.
"… economic team carrying out this effort. Led by secretary of the treasury HankPaulson. Federal Reserve Chairman Ben Bernanke. SEC chairman Chris Cox and the DNC chair -- I thank them and they're dedicated teams for …" at 6:50
The Federal Reserve and banks around the globe slashed interest rates Wednesday while world economic leaders said a recovery could begin next year.
"… again are urging patience. That was also the message from Treasury Secretary HenryPaulson today who said quote that turmoil will not end quickly. He made those remarks as he urged the importance of fast action …" at 1:25