Economic Opinions Clash In Washington

24 Sep 2008

Congress Continues Work On Financial Bailout Plan

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke will be questioned by members of the House Financial Services Committee Wednesday. They faced tough questioning Tuesday by a Senate panel. Meanwhile, several firms are under investigation by the FBI.

"… Both secretary Paulson and chairman Bernanke will testify before house committee today and President Bush is cutting his trip short at the UN to return to Washington to continue work on the bailout plan. In Washington I'm -- killing. …" at 1:17

"… the administration's top economic leaders try to sell their 700 billion dollar bailout plan to congress. …" at 0:23

"… And doubts I am frightful. To the point of almost panicked Wall Street not panicky yet but nervous. Stocks slid for a second day with no resolution after five hours of testimony. …" at 0:55

3 Spoken Highlights

1:31

view series

15 Jul 2008

Economic Opinions Clash In Washington

On Tuesday, President Bush said the country is going through a rough time, but the economy is still growing. Meanwhile, on Capitol Hill, lawmakers expressed concern over the recent plan to rescue mortgage lenders Fannie Mae and Freddie Mac.

"… was all about the economy today. When it comes to the economy President Bush says this is the bottom line. …" at 0:02

"… Over on Capitol Hill Fed chief Ben Bernanke recited the litany of economic woes. …" at 0:21

"… no immediate fix especially for high oil prize. If I had a magic wand. But the president have a manager who he's against it. Low -- he once again called on congress to repeal its ban …" at 0:36

4 Spoken Highlights

1:46

view series

8 Sep 2008

U.S. Bails Out Fannie Mae, Freddie Mac

The federal government announces plans to take over mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse the housing and credit crisis.

"… federal government to take note -- nation's two largest mortgage finance companies. Freddie Mac and -- name officials announced the move on Sunday the two firms are being placed into -- conservative -- overseen by the federal housing finance agency meeting the government would temporarily run the mortgage giants until -- on firmer footing. …" at 0:14

"… And Freddie Mac so large and so interwoven our financial system. After a year of either of them would cause great turmoil in the financial markets here at home and …" at 0:42

"… Freddie Mac and -- made back five trillion dollars in home loans. With a sharp downturn in the market that companies are suffering about …" at 0:53

3 Spoken Highlights

1:29

view series