In case you don’t have time to read the paper every day; here are a few highlights from the Wall Street Journal for every day this week.
Monday- October 20, 2008
Open:8,852.30 Close:9265.43
“Europeans Step Up Bank Bailout”
Between the Netherlands’ agreement to inject $13.4 Billion into ING and Germany’s decision to rush to put together some sort of Financial Rescue package, Europe continues their fight against the crisis.
Tuesday- October 21, 2008
Open: 9179.11 Close:9045.21
“U.S. Rescue Fund is Likely to Foster Bank Takeovers”
As banks begin planning around the new US capital injection, larger banks begin to consider using the funds to purchase smaller banks. This could cause some serious controversy as the takeovers would not yield nearly the boost as new lending would, and it would all be at the taxpayer’s expense.
Wednesday- October 22, 2008
Open: 9027.84 Close: 8519.21
“Fed offers More help to Money Funds”
As the credit markets continue to crumble, the Federal government attempts another resolution by considering an additional $540 Billion injection to the Money Market Mutual Fund industry.
“Europe adds to Bank plans in bid to blunt likely Recession”
As the crisis continues its spread into Europe, France has commited to inject $14 billion into six of Europe’s large banks and Italy is now considering taking stimulus measures themselves.
Thursday- October 23, 2008
Open: 8519.77 Close: 8691.25
“Plans to aid Borrowers gain steam”
The administration is considering a $40billion plan to eliminate the mass amounts of foreclosures.
Friday- October 24, 2008
Open: 8683.21 Close: ?
“Greenspan Admits Errors to Hostile house panel”
Greenspan, under questioning, admitted to mistakes in judgement that he had made that could have added to the current economic slump.