President Obama proposes regulatory reform.

Things are more than a little crazy on the stock market right now. Yesterday, when the news of the Fed liquidity plan came to light, the stock market did a little jump for joy. Today, as the implications of the plan sink in, stocks are crashing. Again.
But, as Money magazine points out, dumping all of your stock may not be the best option:
So even though your gut may be telling you otherwise, you don’t want to abandon stocks. Nor do you want to embark on what may seem like a plausible strategy of getting out now with the idea of …read more

The Bush Administration briefed Republicans today about a deal with the mortgage industry to halt the subprime meltdown. It might be released to the rest of us by tomorrow. One of the main concerns? Bloomberg reports that the mortgage fix doesn’t benefit those with resetting mortgages who are able to make payments:
“My biggest concern is that there are a lot of Americans who are making their mortgage payments, they are current, and the benefit won’t go to them,” Representative Spencer Bachus, the top Republican on the House Financial Services Committee, told reporters after the meeting with Paulson today.
Evidently, the …read more