| As Wall Street takes a dive, traders drive oil futures down
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| Light, sweet crude for November delivery sank $10.52, or 10.1 percent, to settle at $96.36 on the New York Mercantile Exchange the lowest since last February.
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| @ Sarasota Herald Tribune | Posted: 09/30/08 at 0201 EDST
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| The Americas navigate U.S. crisis
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| Despite rising fears and forecasts predicting an economic slowdown in the region, most Latin American economies have shown resilience amid the U.S. market convulsions.
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| @ Miami Herald | Posted: 09/30/08 at 0315 EDST
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| Personal income increased $61.5 billion, or 0.5 percent in August over July.
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| Private wage and salary disbursements increased $24.5 billion in August over July
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| @ Bureau of Economic Analysis | Posted: 09/30/08 at 0320 EDST
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| The Beltway Crash
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| Congress lives up to its 10% approval rating.
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| @ Wall Street Journal | Posted: 09/30/08 at 0330 EDST
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| University of Chicago heavyweights weigh in against the bailout
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| A week ago last Monday, a group of U. of C. dons enlisted 100 economists to sign a petition criticizing the White House bailout plan as arbitrary, ill-considered and woefully short on specifics. Yesterday, Congress' surprise vote to reject the plan is jolting that same group of economists.
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| @ Chicago Tribune
| Posted: 09/30/08 at 00345 EDST
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| House Rejects Financial Rescue, Sending Stocks Plummeting
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| After U.S. financial markets closed, with the Dow Jones industrial average down a one-day record of 778 points, or 7 percent
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| @ Washington Post | Posted: 09/30/08 at 0400 EDST
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| Lawmakers Grope for Resolution as They Attempt to Avoid Economic Calamity
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| Defying President Bush and the leaders of both parties, rank-and-file lawmakers in the House on Monday rejected a $700 billion economic rescue plan in a revolt that rocked the Capitol, sent markets plunging and left top lawmakers groping for a resolution.
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| @ New York Times | Posted: 09/30/08 at 0415 EDST
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| You've Just Been Offered a Great New Job in Charlotte!
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| Too bad you can't sell your house in Tampa. Homeowners who have "negative equity" in their homes—that is, a mortgage that exceeds its resale value—are 50 percent less likely to move than those who can afford to pay off their mortgages with a home sale.
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| @ Slate | Posted: 09/30/08 at 0419 EDST
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| `We're getting hurt but it's not the end of the world'
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| Most traders, investors, analysts and everyday folk take stock market's historic plunge in their stride. "I remember 1987 when it went down more than today, and it bounced back in a few weeks"
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| @ Toronto Star | Posted: 09/30/08 at 0646 EDST
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| Markets spin after US $700bn bailout fails
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Within an hour of opening, the FTSE 100 rose by 14.3 points to 4,833.14, compared with yesterday’s 269.7-point decline, after US stocks rallied in pre-market trading. Yesterday, the Dow Jones industrial average fell by 7 per cent, marking the worst one-day point fall since Black Monday in 1987. But, this morning, pre-market trade sent the Dow Jones up 150 points.
Editor's Comment: Another example of Niemoth's Law: What goes down fast, will come up fast.
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| @ London Times | Posted: 09/30/08 at 0652 EDST
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| House rejects US bail-out bill
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| The vote effectively torpedoed unprecedented government interventions to quell the fear in the financial markets which had earlier seen five US and European banks rescued or nationalised and the world’s central banks unleashing a gigantic global liquidity operation.
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| @ Financial Times | Posted: 09/30/08 at 0655 EDST
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| -30- |
