The ability of parents to save for their children’s college tuition has declined since last year, according to a study released today by Fidelity Investments of Boston.
Two days after the House rejected a $700 billion financial services bailout bill by a vote of 228 to 205, the Senate will be voting this evening on a slightly revised package in the hopes of pushing the controversial legislation forward.
If the outlines of the administration’s bailout plan are approved, the next secretary will have to take shots in the dark while walking a tightrope.
As the stock market continues its pattern of record-level volatility, the hedge fund industry stands perplexed over a targeted ban on short selling that was supposed to help the markets find some equilibrium.
Equity real estate investment trusts continue to outperform the broader market in today’s volatile environment.
The S&P/Case-Shiller 20-City Composite Home Price Index, which tracks home values in 20 major U.S. cities, tumbled 16.3% in July from the same month a year earlier.
Financial advisers, economists, and others fear that the country may plunge into a deep recession — and possibly even a depression — if congressional leaders don’t hammer out an alternative rescue plan following Monday’s failed vote.
An Internal Revenue Service notice, which became effective Sept, 22, provides guidance on the use of the Exchange Stabilization Fund.
“It matters little what path a bill takes to become law. What matters is that we get a law,” said President Bush today.
“We need to work as quickly as possible to get something done as soon as possible,” he told reporters at the White House after the financial bailout bill defeat yesterday.
