Sal Gutierrez's (sal_g) Blog

Put simply, the hastily crafted plan lawmakers agreed to in principle on Sunday is intended to revive jittery and fragile banks on Wall Street with enough money -- by using taxpayer funds to purchase billions upon billions of their worst mortgage-related assets -- so that lending, the lifeblood o...

According to the census bureau. , “The spending rate for residential (new homes ) construction projects dropped for the 25th consecutive month at the end of the first quarter and has fallen 34.4 percent from its peak in February 2006. Now, those of you who know me and have read my posts in the pa...

Key lawmakers who struck a post-midnight deal on a $700 billion bailout for the financial industry predicted Sunday it would pass Congress, putting in place the largest government intervention in markets since the Great Depression. Flexing its political muscle, Congress insisted on a package that...

Neither presidential candidate took a position on the proposal. GOP nominee John McCain said he was awaiting specifics and any changes by Congress. McCain and Obama offer their 2 cents on the market  "This financial crisis requires leadership and action in order to restore a sound foundation to f...

But lawmakers digesting the eye-popping cost and searching for specifics voiced concerns that the proposal offers no help for struggling homeowners or safeguards for taxpayers' money. Democrats say it must include mortgage help so borrowers facing foreclosure can stay in their homes.  Over time, ...

The proposal does not require that the government receive anything from banks in return for unloading their bad assets. But it would allow the Treasury Department to designate financial institutions as "agents of the government," and mandate that they perform any "reasonable duties" that might en...

has the FED gone too far this time??  The Bush administration asked Congress to buy $700 billion in toxic assets clogging the financial system and threatening the economy as negotiations began on the largest bailout since the Great Depressi Here is what we are facing (potentially) as a result: Hi...

The Senate Banking Committee chairman says the government's financial rescue plan will be costly, and is demanding more details about the program to confront the worst financial crisis in decades. Sen. Chris Dodd told reporters, "We're anxious to hear the ...

The government took action Friday morning to ease a potential panic about the safety of Americans' money -- particularly the solvency of money-market mutual funds. Americans money is safer today as government guarantees money market funds The Treasury Department said it will -- at least temporari...

The Bush administration sketched out a multi-faceted effort on Friday to confront the worst U.S. financial crisis in decades, outlining a program that could cost taxpayers hundreds of billions of dollars to buy up bad mortgages and other toxic debt that has unhinged Wall Street. President Bush, f...