Reuters - U.S. stocks surged on Friday, with the
Dow hitting its session high, on optimism a plan by President
Bush to help struggling subprime mortgage borrowers avoid
foreclosure would help loosen credit conditions that have
rattled financial markets.
Reuters - President George W. Bush on Friday
tried to calm financial market turmoil from the credit crisis
by announcing proposals intended to prevent homeowners from
defaulting on risky mortgages.
Reuters - U.S. President George W. Bush,
announcing a package of measures to help homeowners struggling
to pay their mortgages amid the subprime loan crisis, said on
Friday the market turmoil stemming from the problem will take
time to play out.
Reuters - Stocks cut gains on Friday after
President Bush said it was not the government's job to bail out
speculators in connection with losses in the home mortgage and
credit market sectors.
Reuters - Economic data released on Friday
showed inflation under control in July while U.S. factories
were busier than forecast, portraying a resilient economy in
little need of an interest rate cut.
Reuters - The Federal Reserve will
take the necessary steps to shelter the economy from turmoil in
financial markets but will not bail out investors who made
mistakes, Fed Chairman Ben Bernanke said on Friday.