EFFORTS TO UNFREEZE MARKETS CONTINUE

The Federal Reserve and Treasury Department today announced $800 billion in credit and mortgage programs intended to keep the country from slipping further into recession. Through its consumer debt program, the Fed will lend up to $200 billion to the holders of...

SENATE PASSES HOUSING RESCUE BILL

The U.S. Senate on Saturday passed the Housing and Economic Recovery Act of 2008, a bill that would stem foreclosures by allowing some 400,000 homeowners to refinance into affordable, government-backed loans. The bill passed by a margin of 72-13. The House of...