Reuters - Financial firms face a “new world
order” after a weekend fire sale of Bear Stearns and the
Federal Reserve’s first emergency weekend meeting since 1979,
research firm CreditSights said in a report on Monday.
Reuters - The U.S. Internal Revenue Service
said on Monday it would begin sending the first of more than
130 million economic stimulus payments on May 2 and expects to
complete the first round of payments by early July.
Investor’s Business Daily - Economy: In markets, psychology is everything. Once spooked, investors can turn a market rout into a stampede, which can become a full-on panic. That’s why the Fed’s actions over the past two weeks are so important.
Reuters - With her hand on her cheek,
the 68-year-old woman gazes patiently at the cars racing past
her, hoping someone will stop and buy the firewood at her feet
so that she can feed her three grandchildren.
Reuters - More than three in four Americans
think the United States is in a recession according to a USA
Today/Gallup Poll released on Tuesday.
Reuters - Turmoil on Wall Street is pushing
financial professionals to the therapist’s couch, scaring them
off power lunches and testing the mettle of small investors
caught in the vortex.
Reuters - U.S. Treasury Secretary Henry
Paulson said on Tuesday the U.S. economy had turned down
sharply but declined to label the situation a recession.
Reuters - U.S. home building projects started
in February fell by 0.6 percent to a higher-than-expected
annual rate while building permit activity, a sign of future
construction plans, dropped off 7.8 percent, a government
report on Tuesday showed.
AFP - The US economy has turned down sharply, US Treasury Secretary Henry Paulson acknowledged Tuesday.
AP - Wholesale prices rose again in February as another hefty increase in energy costs offset falling food prices. Outside of food and energy, prices shot up at the fastest pace in 15 months.