President Bush said today that lawmakers agree that "something substantial" needs to be done to fix the financial markets. But first, those lawmakers have to agree as to what that "something substantial" is. Jeremy Hobson has the latest.
The president told the American people today that the legislative process "is sometimes not very pretty." No kidding. Republicans and Democrats remain divided on the bailout plan. Jeremy Hobson fills us in.
"The Daily Show" with Jon Stewart saw its highest ratings ever last week, finding the humor in the economic meltdown and presidential race. Stacey Vanek-Smith takes that up with entertainment editor Mike Speier.
Washington Mutual succumbed to the mortgage crisis and was taken over by the FDIC, then quickly sold to JP Morgan. It was the largest bank takeover in U.S. history. Stacey Vanek-Smith asks Tess Vigeland for what this means.
Yesterday's series of moves by Congress members to come up with a bailout plan turned into something of a rollercoaster ride. First there was a deal, then there wasn't, then... Steve Henn sorts it out for us.
The plan Republicans in Congress have proposed involves insuring the so-called toxic assets held by banks, instead of a straight $700 billion bailout. Host Scott Jagow asks business editor Edward Carr if that's a good idea.
The bailout summit that was supposed to go so well apparently turned into a shouting match. Beleagured Treasury Secretary Paulson begged them not to tell anyone how badly it went, but word's out. Host Scott Jagow gets more from Jeremy Hobson.
The economic turmoil has been a blow to homebuilders and they aren't waiting for Congress to make everything right. Rachel Dornhelm reports on some of the creative ways builders are trying to make sales.