How-To Films for Tough Times

Insured accounts best bet as Wall Street tumbles

(NEWSER) - After the biggest single-day's loss in Wall Street's history, even Americans whose sole investment is a bank account are nervously scratching their heads. Here are some guidelines to the failed-bailout crisis from the New York Times:

• What happens next? The market's deep dive may scare Congress into passing the bailout or a new bill, at which point stocks may rebound.

Public should expect some reward for taking on Wall Street's bad debt

(NEWSER) - The impending bailout of beleaguered Wall Street behemoths should give the taxpaying public some protection and accountability, writes EJ Dionne Jr. in the Washington Post. The deal should allow the government to claim a stake in financial firms that make money from the bailout, giving taxpayers the chance to reap some rewards in exchange for taking such a large risk. More»

Lawmakers vow not to rush bill like Sept. 11 legislation

(NEWSER) - Democratic lawmakers showed concern today over a proposed $700 billion bailout plan that Barack Obama called a "blank check," Politico reports. Sen. Patrick Leahy vowed not to repeat their post-Sept. 11 mistake—of rushing legislation that President Bush used to justify wiretapping—while others said voters may see the plan as aid for the rich. Breaking his silence, Obama demanded “independent accountability and oversight" in the bill. More»

No, although a couple were charged and some were embarrassed

(NEWSER) - The government could soon prosecute a few Wall Streeters who allegedly played a role in the financial crisis, and the commission that uncovered those at fault was modeled on a similar probe after the Great Depression. So did anyone who precipitated that collapse ever go to jail? Nope, writes Brian Palmer in Slate ’s Explainer column: “The rampant speculation and eventual crash of 1929 weren't caused by fraud or illegality, but by unreasonable optimism and loose financial regulation.” More»

Proving they serve banks, not families, says Elizabeth Warren

(NEWSER) - Senate Democrats are signaling that they're willing to drop the independent Consumer Financial Protection Agency to get financial reform passed, but they'll have to go through bailout watchdog Elizabeth Warren to kill it. The fight over the independent agency is a showdown between the banks' interests and those of American families, Warren told supporters yesterday—and the outcome will show "whether the financial crisis actually changed something." More»