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Tagged: George Bush

Finance

Street Talk: Senate Will Vote Tonight

♦  The Senate is expected to vote this evening on a revised version of the bailout bill. [NYT, WSJ, Bloomberg]
♦ 
Treasury Secretary Henry Paulson has spent the past day and a half working over lawmakers and lobbyists, trying to change minds. [Bloomberg]
♦  President Bush has signed into law a low-interest loan package for American automakers. [WSJ]
♦  UBS plans to cut 1,900 investment banking jobs. [Bloomberg]
♦  Wells Fargo chair Richard Kovacevich says "he feels like a kid in a candy store." At least someone is feeling good. [DB] More

Finance

Street Talk: The Day After

129535♦  A recap of what happened on Wall Street yesterday, just in case you've been asleep for the last 36 hours. [NYT]
♦  In a statement this morning President Bush said he was disappointed the bailout bill didn't pass and warned that "painful and lasting'' economic damage will follow if a settlement isn't reached. Then, like the rest of Congress, he used Rosh Hashanah as an excuse to skip out for the rest of the day. [CNNMoney, Bloomberg]
♦  Wall Street bonuses could be down as much as 50 percent this year. [DB]
♦  Mitsubishi has completed its deal to invest $9 billion in Morgan Stanley; thanks to yesterday's market it's only down $500 million since the deal was announced last week. [NYT]More

Finance

Citi Takes Wachovia, Bailout Goes to a Vote

  President Bush turned up outside the White House early this morning to urge lawmakers to pass the $700 billion bailout and a vote is expected later today. Bored today? The full text of the bailout is here. [NYT, WSJ]
  Citigroup has agreed to buy Wachovia in a deal brokerered by the FDIC. [Dealbook]
  The governments of Belgium, Luxembourg and the Netherlands have teamed up to bail out Fortis, one of Europe's largest banks. [WSJ, Bloomberg] More

Finance

Street Talk: The Battle Over the Bailout

♦  President Bush urged Americans to support the $700 billion bailout during his televised address last night, the first time he's ever devoted a primetime speech to the economy. Meanwhile, thousands of politicians continue to clash over the specifics. [NYT]
♦ 
Warren Buffet was drinking a cherry coke and eating mixed nuts last Tuesday when he got a call about investing in Goldman Sachs. He hammered out the $5 billion deal in about 15 minutes and then moved on to Cheetos and "licorice pastel candies." [WSJ]
♦  WaMu may not have much time left. [Bloomberg]
♦  Lehman Brothers chief Dick Fuld reached out to GE CEO Jeff Immelt before the firm filed for bankruptcy. [NYP]

More

Gossip

Gwyneth Flakes On Fundraiser, Hits Up Party Instead

127579
  • Guests at a Bridgehampton benefit thrown by Gwyneth Paltrow were upset they couldn't mingle with their A-list host on Saturday night, since she was sequestered inside the house and off-limits to partygoers. But the real reason she wasn't mingling with the crowd may have been because she ditched the party early to attend Mariah Carey's wedding bash at LA Reid's house. [R&M, Page Six, Fox411]
  • Donald Trump is suing the Morrison Cohen law firm for using his name on their website. The firm says he's just trying to get out of paying the $600,000 he owes from a previous case they worked on. [Page Six]
  • Despite the fact her music career hasn't exactly generated rave reviews, Scarlett Johansson says she might want to make another record. [Showbiz Spy]  
  • The father of Heroes star Hayden Panettiere was arrested for abusing her mom during a drunken rage. [NYP]
More