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Front Page: US Invests $250 Billion in Banks, Wildfires Rip Through Southern CA, McCain's Economic Proposal

Front Page: US Invests $250 Billion in Banks, Wildfires Rip Through Southern CA, McCain's Economic Proposal

  • $250 Billion Bank Investment:
    President Bush announced this morning that the government plans to invest $250 billion into banks, a move that he says is essential to stabilize the financial system. In exchange for the money the government will get an equity stake in the banks. It's the plan promoted by economists in the excellent This American Life episode explaining the crisis. Henry Paulson also delivered remarks on the plan today.
  • Wildfires Rip Through Southern CA:
    Over 1,000 firefighters are battling blazes near Los Angeles. The fires have claimed two lives and thousands more have been evacuated. With flames fanned by the Santa Ana winds, Gov. Schwarzenegger says, "Winds are causing fire conditions to change by the hour, which is why it is so important that residents in the areas surrounding these wildfires heed warnings from public safety officials to evacuate."
  • McCain to Announce Economic Proposal:
    John McCain will be revealing $52.5 billion in new economic proposals today, specifically aimed at helping seniors, workers, and the unemployed — those the campaign has said have been hurt worst by the crisis. In addition to the plan, three new tax measures, including a 50 percent reduction on the capital gains tax on stock profits will be announced. McCain's plan comes a day after Obama announced his own.

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Jude-C Jude-C 8 years
I'm glad I've got the next couple of weeks off, considering those wildfires. Last year's were pretty heinous here.
CaterpillarGirl CaterpillarGirl 8 years
look its pres bush being a good pres! but only getting a blip on the radar.
bento-barista bento-barista 8 years
Good. This is what we should have done in the first place (the bank investment) instead of the bailout.ps. How's the stock market doing so far today? I heard it improve markedly yesterday.
bento-barista bento-barista 8 years
Good. This is what we should have done in the first place (the bank investment) instead of the bailout. ps. How's the stock market doing so far today? I heard it improve markedly yesterday.
ilanac13 ilanac13 8 years
i wonder how that's going to impact the market today - knowing that there's going to be another federal infusion into the banks. i think that with so much activity lately, i'm not sure that i truly understand the implications that we're going to face as americans. anyone have more information for me?i remember this time last year when there were those HORRIBLE fires in CA. i had just started my job and i remember seeing it on CNN every day. i hope that they are able to get the help and supplies necessary to put out the fires or at least to stop even more houses from going up in flames. it has to be hard during this campaign to come up with something first and to get the American public behind you as a candidate. i haven't had a chance to read through the details of either proposal but i think that now is the time to really put things out there that the public wants in order to secure votes.
ilanac13 ilanac13 8 years
i wonder how that's going to impact the market today - knowing that there's going to be another federal infusion into the banks. i think that with so much activity lately, i'm not sure that i truly understand the implications that we're going to face as americans. anyone have more information for me? i remember this time last year when there were those HORRIBLE fires in CA. i had just started my job and i remember seeing it on CNN every day. i hope that they are able to get the help and supplies necessary to put out the fires or at least to stop even more houses from going up in flames. it has to be hard during this campaign to come up with something first and to get the American public behind you as a candidate. i haven't had a chance to read through the details of either proposal but i think that now is the time to really put things out there that the public wants in order to secure votes.
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