Bernanke Indicates Backing For Stimulus Package
Federal Reserve Chairman Ben Bernanke has told lawmakers they should be "considering" another stimulus package. He said a new stimulus plan should be "targeted" and focused on ways to "help improve access to credit by consumers, home buyers, businesses and other borrowers."
Credit Markets Take Time To Thaw
A hallmark of the credit crunch is that lending among banks has come to a virtual standstill. When transactions do happen, they typically involve relatively small amounts of money. Interbank lending has picked up only a little in the past few days.
Florida Church Burns X-Rated Film Reels
Members of Christ Church Anglican in Jacksonville, Fla., held a "holy water hose-down" Sunday at their future home, a drive-in movie theater. The congregation set fire to dozens of pornographic movies found there in a symbolic act to take the land from "unholy to holy," says Mark Eldredge, the church's senior pastor.
Hints Swirl, But Afghan-Taliban Talks Not Yet Reality
Reports last month of peace talks between the Afghan government and the Taliban raised eyebrows in several world capitals, but it turns out there were no formal negotiations. There are signs, however, that both sides are more interested in peace talks than ever before.
Freud And Oedipus Converge In 'Three Roads' Where Three Roads Meet, the new novel from British psychologist and fiction writer Sally Vickers, is set in the spring of 1923, and features an invented encounter between the ailing Sigmund Freud and a blind, ancient soothsayer.
McCain Campaigns In Missouri
Republican John McCain has campaigned in Missouri. Unlike rival Barack Obama who held large rallies in city centers over the weekend, McCain is holding his rallies in the suburbs. McCain is talking about keeping spending low, while also discussing his plan to buy at-risk mortgages.
Obama Campaigns In Florida
In Tampa Bay, Fla., Sen. Barack Obama opened his speech by talking about his endorsement from Colin Powell. He then reminded supporters it's no time to be overconfident, making the pitch for people to volunteer for his campaign. Florida has turned into a key state this election cycle.
Without Credit, Mont. Resort Weighs Options
Lee Poole, CEO of Moonlight Basin resort in Montana, is having to rethink his entire business. His banker was Lehman Brothers and he now has lost his access to credit. Poole is looking for investors to take a stake in his company.
Dear World: Lighten Up. Sincerely, Groucho
Shalom Auslander believes that life is short and silly and probably ought to be treated that way — which is why he keeps a copy of The Groucho Letters on his bedside table.
Amid Meltdown, N.Y. Prepares For Hard Times
New York state is bracing for some tough economic times. The credit crisis and the meltdown on Wall Street does not bode well for state coffers. Gov. David Paterson offers his insight about the challenges ahead.