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BANK OF THE WEST'S VICE CHAIRMAN BLANKENSHIP TESTIFIES ON IMPLEMENTING THE EMERGENCY ECONOMIC STABILIZATION ACT AND OTHER MARKET INTERVENTIONS BEFORE HOUSE PANEL

Article from: US Fed News Service, Including US State News Article date: November 18, 2008

The House Financial Services Committee issued the following testimony from a full committee hearing:

TESTIMONY OF CYNTHIA BLANKENSHIP VICE CHAIRMAN/COO, BANK OF THE WEST

ON BEHALF OF THE INDEPENDENT COMMUNITY BANKERS OF AMERICA

BEFORE THE CONGRESS OF THE UNITED STATES HOUSE OF REPRESENTATIVES COMMITTEE ON FINANCIAL SERVICES

Hearing on "Oversight of Implementation of the Emergency Economic Stabilization Act of 2008 and of Government Lending and Insurance Facilities: Impact on Economy and Credit Availability"

Chairman Frank, Ranking Member Bachus, Members of the Committee. My name is Cynthia ...

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Housing, Labor Pummel Stocks

Posted Jul 24, 08 3:29 PM CDT in Business

Source: AP Photo/Mel Evans

(Newser) – Stocks saw big losses today as bad news on housing and employment soured investors’ hopes of a looming economic turnaround, the Wall Street Journal reports. The Dow fell 283.10—a 2.43% drop—to close at 11,349.28; the Nasdaq shed 45.77, to 2,280.11; and the S&P 500 lost 29.65, closing at 1,252.54.

The National Assocation of Realtors reported a 2.6% drop in existing-home sales, more than double what analysts expected. “No question, we had a few years where the housing market and the mortgage market went amok,” one trader said. “Now we've been paying the price.” The Labor Department also chimed in, saying unemployment claims hit a 3-year high, jumping 34,000 to 406,000 last week.

Sources: Wall Street Journal, MarketWatch

More about: Dow Jones • S&P 500 • Nasdaq • housing market • unemployment • Bank of America • WaMu

MARKETS

Dow Down 245 on Jobs

Investors nervous ahead of Friday's December employment report

MarketWatch Jan 7, 09 3:24 PM CST

(Newser) - Stocks piled on after this morning’s losses, with investors shaken by a grim jobs report and news of layoffs and slashed forecasts at Alcoa and Intel. Crude plunged $5.95, to $43.01 a barrel, after inventories rose more than forecast, MarketWatch reports. The Dow fell 245.40 to close at 8,769.70. The Nasdaq dropped 53.32 to 1,599.06, and the S&P 500 closed down 28.05 at 906.65. More »

More about: Financial Crisis • Dow Jones • S&P 500 • Nasdaq • unemployment • Intel • crude oil prices • jobs • Alcoa • Satyam

MARKETS

Dow Rises 108 to End Year

Dow off 33%, S&P down 40% for 2008

MarketWatch Dec 31, 08 3:21 PM CST

(Newser) - Stocks posted gains in the last trading session of the year, but this two-day rally will do little to erase the indices' dismal record in 2008, MarketWatch reports. Amid light trading volume ahead of New Year's Day, the Dow gained 108 points to close at 8,776. The Nasdaq closed up 26.33 points at 1,577, and the S&P 500 rose 12.61 points to settle at 903. More »

More about: Dow Jones • stock market • S&P 500 • Nasdaq • recession • unemployment • New Year's Eve

MARKETS

Stocks End Mixed; Dow Up 25

Good news from RIM, Oracle help lift tech sector

MarketWatch Dec 19, 08 3:45 PM CST

(Newser) - Stocks ended mixed today as a rally on the news of a White House bailout for the auto industry fizzled over concerns for the larger economy, MarketWatch reports. General Motors led advancing stocks with a 22.7% gain, and the Dow closed up 25.88 at 8,579.11. The Nasdaq gained 11.95, closing at 1,564.32, while the S&P 500 rose 2.60, to settle at 887.88. More »

More about: Financial Crisis • Dow Jones • S&P 500 • Nasdaq • auto industry • General Motors • Citigroup • Goldman Sachs • Bank of America • Citibank

Roundup: Asian stock markets contiue to drop after sad Monday for world stock... (Xinhua News Agency)

Markets Friday: resources stocks lift FTSE. (Investors Chronicle - magazine and web content)

Scots Stocks: Weir shares surge as its key markets defy global economic downturn (The Scotsman)

Markets Show Modest Declines, But Big Bank Stocks Nose-Dive (The Washington Post)

Markets Gain Ground as Investors Snap Up Financials, Transportation Stocks (The Washington Post)

Credit markets still tight as stocks plunge (Charleston Gazette)

Jobs data outweigh fears over price of oil AROUND THE MARKETS STOCKS (International Herald Tribune)

Wall Street reels on U.S. growth fears AROUND THE MARKETS STOCKS (International Herald Tribune)

Stocks fall worldwide on U.S. growth fears AROUND THE MARKETS STOCKS (International Herald Tribune)

Rally in comodities helps shares recover AROUND THE MARKETS STOCKS (International Herald Tribune)

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Posted Jul 24, 08 3:29 PM CDT in Business

More about: Dow Jones • S&P 500 • Nasdaq • housing market • unemployment • Bank of America • WaMu

MARKETS

Investors nervous ahead of Friday's December employment report

More about: Financial Crisis • Dow Jones • S&P 500 • Nasdaq • unemployment • Intel • crude oil prices • jobs • Alcoa • Satyam

MARKETS

Dow off 33%, S&P down 40% for 2008

More about: Dow Jones • stock market • S&P 500 • Nasdaq • recession • unemployment • New Year's Eve

MARKETS

Good news from RIM, Oracle help lift tech sector

More about: Financial Crisis • Dow Jones • S&P 500 • Nasdaq • auto industry • General Motors • Citigroup • Goldman Sachs • Bank of America • Citibank

SPONSORED NEWS ARCHIVE

Roundup: Asian stock markets contiue to drop after sad Monday for world stock... (Xinhua News Agency)

Markets Friday: resources stocks lift FTSE. (Investors Chronicle - magazine and web content)

Scots Stocks: Weir shares surge as its key markets defy global economic downturn (The Scotsman)

Markets Show Modest Declines, But Big Bank Stocks Nose-Dive (The Washington Post)

Markets Gain Ground as Investors Snap Up Financials, Transportation Stocks (The Washington Post)

Credit markets still tight as stocks plunge (Charleston Gazette)

Jobs data outweigh fears over price of oil AROUND THE MARKETS STOCKS (International Herald Tribune)

Wall Street reels on U.S. growth fears AROUND THE MARKETS STOCKS (International Herald Tribune)

Stocks fall worldwide on U.S. growth fears AROUND THE MARKETS STOCKS (International Herald Tribune)

Rally in comodities helps shares recover AROUND THE MARKETS STOCKS (International Herald Tribune)

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