Investors are showing no signs of easing up on their pessimism as the Wall Street sell-off constinues on Tuesday. But the government is not just watching the economy go down the tubes. Earlier today, the Federal Reserve said it would start direct lending to businesses. How significant is this move? Will we see an interest rate cut? And why are investors worldwide digging in for a major economic downturn? We ask Robert Lenzner, National Editor for Forbes magazine.
John McCain and Barack Obama will square off in the second of three presidential debate tonight on the campus of Belmont University in Nashville, Tennessee. How will the candidates be impacted by the town hall format? How will they try to use the financial crisis to show they are the best choice for president? How will the candidates and their remarks be influenced by poll numbers suggesting momentum for Obama? We ask all those questions to Christina Bellantoni, National Political Reporter for The Washington Times.
The Dow suffers a massive sell-off before recovering a bit before the close…Congress starts investigating the Wall Street mess…and Obama’s connections with a former terrorist and McCain’s Keating Five days are front and center on the campaign trail. We cover all three of these major stories as we bring you the biggest headlines from Monday, October, 6, 2008.
Over the past few days, both campaigns have gotten more personal in their criticisms of the opposing ticket. The McCain campaigning is blasting Barack Obama for his connections with unrepentant 1960s terrorist Bill Ayers. In response, the Obama team is highlighting McCain’s involvement in the Keating Five scandal from a generation ago. Why are we seeing this now? Are these legitimate topics? Are these good strategies? And what impact will this have on Election Day? We ask longtime Democratic activist Michael Lewan, former Chief of Staff for Connecticut Sen. Joe Lieberman.
Most eyes are on the presidential campaign, but what do the Congressional races look like? Will Democrats hold their majorities or do Republicans have a shot? Which seats do GOP officials think they can win back? Which issues do they see as winners? And how will Republicans overcome the mountain on retirements among House members? We ask all these questions to Ken Spain, spokesman for the National Republican Congressional Committee.
Virginia has emerged as a major battleground state in this year’s presidential race. Democrats haven’t won the Old Dominion since Lyndon Johnson carried it back in 1964. So how big is the Obama lead in the latest Suffolk University poll? Are we seeing a momentum shift or are the numbers all over the place? And what do the numbers show in some of the most decisive parts of Virginia? We ask pollster David Paleologos of Suffolk University.
While most Americans are understandably focused on the economy as they make their voting decisions, many experts say the biggest impact a president makes is with his Supreme Court selections. So what are the judicial philosophies of McCain and Obama? What do they look for in potential jurists? And how might the nation look different in the years ahead because of the justices picked by one of these men as president? We ask Gary Marx, Executive Director of the Judicial Confirmation Network.
Passing the bailout bill would provide quick stability to Wall Street, right? Maybe some day down the road, but certainly not on Monday. After major sell-offs around the world, the Dow Jones, Nasdaq and S&P are all being consumed by an avalanche of selling. What is behind this bearish attitude? How long will it last? And how can we snap out of it? That’s what we ask Brian Wesbury, former Chief Economist for the Joint Economic Committee of Congress. He is noe Chief Economist at First Trust Advisors in Lisle, Illinois.
We have the top news at the end of the week! How big of a margin did we seeing in passing the bailout bill in the House? What is the reaction from President Bush and Congressional leaders? Why did some still vote no? And what comes next as Congress tackles the financial crisis? We bring you the latest details on all of those questions as we discuss the top news for Friday, October, 3, 2008.
The House passed the bailout bill, but did Wall Street like it? What’s the latest news with troubled banks Wachovia and Washington Mutual? And what were the highlights from Thursday night’s vice presidential debate? We discuss it all in the rest of our top news.