The Nuts and Bolts of the Bailout Bill

We have been talking about the $700 Billion Bailout Bill for quite a while now and still we have no progress. Senate is scheduled to vote on its version of the Bailout Plan tonight, and though everyone including our presidential candidates are pushing for a resolution, it seems unlikely that this will happen tonight.
Why can’t [...]

From Mortgage Meltdown to Financial Tsunami

On Tuesday the Fed’s took what some called a “tough love” stance and chose to hold the Fed Funds Rate at 2 percent for the third straight meeting. This move leaves the prime lending rate at 5 percent. The prime rate is attached to credit cards, equity lines, student and car loans. The Fed did [...]