| | | Paulson and Bernanke Swoop to Rescue Financial Markets | | | Fri, 19 Sep 2008 06:17:27 EST
In an unprecedented series of actions from the U.S. Treasury Department, the U.S. Federal Reserve and the U.S. Securities and Exchange Commission over the last 24 hours, the administration has announced plans to purchase illiquid assets from financial institutions. It also promised to buy up Fannie Mae and Freddie Mac Debt, it will launch an initiative to lend to banks for the purchase of commercial paper, created a fund geared at insuring money market mutual funds and banned short selling on 799 financial stocks.
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| CNBC Videos 9/19/2008 4:55:21 AM When noting the figures amounted in the bailouts of AIG, Bear Stearns, Freddie Mac and Fannie Mae, on top of a budget deficit over $400 billion, in a weak economic environment, one questions the US government's 'AAA' rating, James Shugg from Westpac Bank said. |
| CNBC Videos 9/19/2008 6:07:52 AM "If you're focused on the financial-services sector, it's not going to be great news for the short term," Albert Ellis, CEO of Harvey Nash, told CNBC about the outlook for jobs. |
| CNBC Videos 9/19/2008 7:59:28 AM Weiging in on the SEC's short-selling curb, with Mohamed El-Erian |
| CNBC Videos 9/19/2008 8:11:43 AM The Treasury announces a plan for money markets, reports CNBC's Steve Liesman |
| CNBC Videos 9/19/2008 8:16:28 AM The Treasury will insure holdings of any publicly offered money fund for a fee, with Joe Moglia, TD Ameritrade Holding Corp.; CNBC's Steve Liesman & Charlie Gasparino |
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