Congress examines $700 billion market bailout plan
WASHINGTON (Reuters) - The Bush administration asked Congress on Saturday for $700 billion to bail out firms burdened with bad mortgage debt, seeking extraordinary authority as it tackles the worst financial crisis since the Great Depression.
Morgan Stanley board meets to weigh options: sources
PHILADELPHIA (Reuters) - Morgan Stanley's board was scheduled to meet on Saturday to weigh strategic options for the investment bank, including a possible takeover by Wachovia Corp or selling a bigger stake to China Investment Corp, sources familiar with the situation said on Saturday.
Treasury keeps options open on asset purchases
WASHINGTON (Reuters) - The Treasury Department said on Saturday that its financial rescue plan could permit it to buy assets beyond those backed by mortgages and potentially buy them from foreign holders.
Central banks may expand range of collateral: Nikkei
TOKYO (Reuters) - Central banks in the United States, Europe and Japan will consider taking foreign-denominated assets as collateral in an effort to provide liquidity for battered financial markets, the Nikkei newspaper said on Sunday.
From boom to bust, China's stocks casino loses luster
BEIJING (Reuters) - China's middle-class moms and blue-collar pensioners were among the world's most avid and successful investors last year. Now their record is one of lost fortunes, broken families and protest.
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