FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

October 3, 2008

White House promises quick enactment for massive Wall Street rescue The House passed a $700 billion bailout of the financial services industry Friday, reversing itself after members who voted to kill the measure earlier in the week came around to a Senate version that offered more protection for individual investors and small businesses. Stocks were up sharply in anticipation that the measure could help thaw frozen credit markets. After a week of reversals and intense lobbying, the Read Full Article

October 1, 2008

WASHINGTON (Oct. 1) - After one spectacular failure, the $700 billion financial industry bailout found a second life Wednesday, speeding toward passage in the Senate and gaining ground in the House where conservative opposition seemed to soften. Senators loaded the economic rescue bill with tax breaks and other sweeteners for the right and left, hoping to secure approval in the House by Friday, just days after lawmakers there stunningly rejected an earlier version and sent markets plunging Read Full Article

September 29, 2008

Dow plunges over 700 points after House defeats big financial rescue NEW YORK - Fear swept across the financial markets Monday, sending the Dow Jones industrial average down over 700 points in a volatile market, after the government’s financial bailout package failed to survive a vote in the House. The Dow was testing a record 721.56-point decline set during the first trading day after the Sept. 11, 2001, terror attacks. Still, in percentage terms, the decline remained well below the Read Full Article

September 28, 2008

$700 billion deal aimed at saving the nation's shaky economy from collapse WASHINGTON - Congressional negotiators and the Bush administration's top Treasury officials go to work Sunday on settling the final details of a historic $700 billion Wall Street bailout aimed at keeping credit flowing and saving the nation's shaky economy from collapsing into a crippling recession. "We've made great progress. We have to get it committed to paper so that we can formally agree," House Speaker Nancy Read Full Article

September 27, 2008

By Sunday we will have an agreement,’ says Rep. Barney Frank WASHINGTON - Lawmakers say they're making progress and hope to reach an agreement over the weekend on a $700 billion government bailout to rescue Wall Street bankers from the bad loans that threaten to derail the economy and send it into a deep and long depression. In a sign of movement, House Republicans dispatched their second-ranking leader, Rep. Roy Blunt of Missouri, to join the talks after their objections to an Read Full Article

September 26, 2008

President says a $700 billion financial bailout plan needed quickly WASHINGTON - President Bush scrambled Friday to bring rebellious members of his own party behind a multibillion-dollar government bailout of the financial system amid bitter political recriminations from both Democrats and Republicans over collapsed negotiations. Bush said that the $700 billion rescue plan for the U.S. financial markets is needed and must be passed quickly. The legislative process “is sometimes not Read Full Article