Search results for

The federal government agreed Tuesday to make an emergency loan of $85 billion to American International Group in exchange for a nearly 80 percent equity stake in the company. Why did the Federal Reserve act to save AIG and what does it mean?

A new study says people with high amounts of bisphenol A in their urine were more than twice as likely to be diagnosed with diabetes or heart disease. The study's author was at a Food and Drug Administration meeting Tuesday on BPA's safety.

As Wall Street continued to be rocked by turmoil, the presidential candidates touted economic reforms to voters. Republican John McCain, campaigning in the battleground state of Michigan, told a crowd there he would fight for working people.

Republican John McCain berated Wall Street, a day after he said the fundamentals of the economy were still strong despite the economic troubles. Campaigning with his running mate, Alaska Gov. Sarah Palin, he said regulation needs to be streamlined.

The Federal Reserve said Tuesday it would lend American International Group $85 billion to help stave off a financial crisis worldwide. In return, the government gets a major stake in the company. "It's almost like French-style capitalism here in the U.S.," says David Wessel, economics editor of The Wall Street Journal.

Republican presidential hopeful John McCain and Democrat Barack Obama held news conferences Tuesday to respond to the White House rescue plan for Wall Street. They also answered questions about how the $700 billion package might affect the initiatives they've campaigned on.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke testified before the Senate Banking Committee Tuesday about the $700 billion rescue plan for the financial sector. They stressed that it was urgent that lawmakers pass the bill this week. Many committee members were not swayed.

On Capitol Hill, Treasury Secretary Henry Paulson tried to sell his rescue plan for financial institutions. Joined by other top finance officials, he defended the $700 billion request to buy bad debt. They faced some skepticism from senators.

The $700 billion bailout plan for Wall Street is far from a done deal. Some have raised concerns over entrusting Treasury Secretary Henry Paulson with that much money with little congressional oversight. New York Times business reporter Andrew Ross Sorkin discusses the situation.

Democratic presidential nominee Barack Obama has announced the death of his grandmother Madelyn Dunham. The 86-year-old Dunham had been battling cancer.