FROM James Politi
Fed to Hold Pivotal Meeting on the Economy The economic recovery is sputtering, and Wall Street investors are waiting to see what the Federal Reserve will do at tomorrow's meeting. James Politi reports from Washington for the Financial Times .
G20 Summit to Address the Global Financial System President Bush has set the date for his summit meeting on the global financial crisis. The so-called G-20 includes the seven industrialized countries plus China, India and Brazil. James Politi is US economics and trade correspondent for the Financial Times .
The Rescue Plan and Its Possible Consequences After a weekend of political drama and late-night negotiations, Congress took up the latest version of the Wall Street rescue plan . With a price tag of $700 billion, nobody said they liked it, but supporters insisted the American people would be worse off without it. Opponents said it would never work. We hear the latest about what's in the plan and why is has just filed to pass a vote in the House. After their first debate , with no knockouts and no big mistakes, John McCain and Barack Obama are both claiming they made the bailout better. We hear from them.
House Rescue Bill Moves through the Pipeline Rescuing Fannie Mae and Freddie Mac could cost American taxpayers $25 billion, which has created new anxiety over the housing market. Today, Bush White House dropped its threat to veto legislation designed to bolster the housing market. James Politi reports from Washington for the Financial Times .
Treasury Secretary Seeks to Assuage New Mortgage Fears Shares in Freddie Mac and Fannie Mae dropped again today amid speculation that the federal government will have no choice but to bail them out. James Politi is US Economics and Trade correspondent for the Financial Times .
A Light at the End of the Dark Economic Tunnel? In St. Louis today, President Bush once again addressed the economy , contending that there is hope ahead. Sure enough, today's labor news was better than expected. Last months, only 20,000 jobs were lost, as compared to the predicted 100,000. James Politi is US economics and trade correspondent for London's Financial Times.
Treasury Secretary Wants Broad Reforms Housing and Urban Development Secretary Alphonso Jackson resigned today . The long-time friend of President Bush faces multiple ethics investigations. No successor has been named. Meantime, Treasury Secretary Henry Paulson proposed revamping oversight of the financial system, for the first time since the Great Depression. James Politi is US Economics and Trade Correspondent for the Financial Times .
Is Venezuela becoming a dictatorship? Venezuela may have the world's largest oil reserves, but it's a nation in trouble… economically and politically. Is a populist promise to rescue democracy turning out to be a prelude to dictatorship?
The flight bumping heard around 'round the world Recent video of a passenger forcibly removed from a United Airlines plane is a worst-case example of what's happened since consolidation into just four US-based carriers. Management seems to be tone-deaf to a decline in service — and even abuse — of passengers.
Why Don't Facts Matter? "Fake News" may have a long history, but social media and 21st Century politics have brought it front and center. One reason for its appeal and its power is the tendency of so many people to cling to their beliefs — even when confronted with contradictory evidence. Today, another look at the Emotional States of America.