Asian Markets Fall Further

21 Nov 2008

Auto Bailout Battle Batters Dow

Uncertainty over the big three bailout creates another day of chaos on Wall Street.

"… street couldn't hold on to mid afternoon gains stemming from a potential bailout deal for US auto makers. The Dow tumbled 445. Points or five and a half percent the NASDAQ also lost over 5% the S&P 500 down over six point 7%. But he S&P it was the lowest closing level in eleven and a hand here the Big Three auto makers may have left Washington empty handed but there's hope yet. Congressional Democrats are asking for a budget plan detailing just how the requested 25 billion dollars in bailout funds would be spent. If the proposal was being both viable and accountable congress would reconvene the considerate as soon as two …" at 0:14

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20 Nov 2008

Frank Discusses Auto Bailout

Rep. Barney Frank talks about the auto bailout plan.

"… the street is where does -- send a month ago was the finance business and Andy I've written I'm -- generic determines it's not overly after the Wall Street correction if you want to. It its cars now what's next to windows the gravy train stopped. …" at 1:07

"… Well I think gravy train -- described it to his isn't any fun for anybody. We are also not talking about giving any money away from him on the 700 billion. What has happened is that we have -- it. Preferred stock in banks and it detects pain you gonna get that back. We've talked about spending 25 billion dollars to oral companies. With that not the government pay dividends. Appropriately on it for anybody making more than 200000 dollars a year with a very -- that are required to be -- …" at 1:22

"… paid back before any other obligation. That we will not have them pay dividends that we went out of the table and that they won't show what they have planned for making -- kind of environmentally. …" at 2:33

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20 Nov 2008

Plan to Help Automakers Stalls on Capitol Hill

The Senate will likely not vote Thursday on a bill that would provide assistance to the Big Three American automakers. Meanwhile, the Fed releases a grim outlook for the next year.

"… least three million job losses as a as the economic forecast -- bleaker. Wall Street opens today below 8000 for the first time in more than five years the record sell -- projections by the Federal Reserve that the US economy could shrink next year while unemployment could rise above 7%. Before leaving for recess the Senate plan to …" at 1:05

"… the evening to come up with a compromise plan to help US automakers it could be voted on as early as today but for now. Measure remains in doubt. No avail well at least for now that's the work from senate Democrats who scrapped plans for a showdown vote today only 25 billion dollar plan to rescue you let's automakers. How much money you need to survive. Worst case scenario the amount of money would be significant I mean we have we …" at 0:01

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