Wall Street's Doom Years in the Making

(NEWSER) - President Obama wants to put the so-called dark markets under control, the New York Times reports, seeking congressional approval to regulate the byzantine world of derivatives trading—which played a large role in the current financial mess. In a letter to lawmakers, Treasury chief Timothy Geithner calls for an oversight system to be run either by the Securities and Exchange Commission or the Commodity Futures Trading Commission. More»

20 cinematic escapes when you're feeling the Great Depression

(NEWSER) - Nothing lifts a Great Depression like a visit to the talkies. Gawker recommends 20 films to watch on your iPhone while standing in tomorrow's bread lines—assuming you haven't already sold your iPhone.

• It's a Wonderful Life: How to survive a bank run, and have a Merry Christmas.
• Grapes of Wrath: Your Ugg boots won't help you on that long march.
• Ironweed: Pick up tips on Depression-era love, even if Jack Nicholson and Meryl Streep do get a little nasty.

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»