Bush hails financial rescue plan
The US will take “unprecedented action” to tackle the crisis gripping its financial markets, says President George W Bush.
September 19, 2008
Shares surge on US bail-out plan
Shares on Wall Street follow European and Asian markets higher as confidence is boosted by a US government plan to free US banks from bad debt.
Global markets roar in approval
Stock markets around the world roared their approval, staging huge rallies as the US authorities moved towards agreement on a programme of government intervention that would put hundreds of billions of dollars of taxpayers’ money at risk in an effort to quell the credit crisis
Hedge funds scramble on shorting ban
Hedge funds were forced to scramble to unwind trading positions after a massive assault by global regulators on short selling aimed at calming the turmoil in global markets
Toxic debt plan and short-selling curbs lift spirits
A radical U.S. plan to mop up toxic mortgage debt and a spreading ban on short-selling drove bank stocks up as much as 40 percent on Friday as urgent talks over rescue takeovers in the sector continued.
UK and Ireland name stocks subject to shorting ban
The Financial Services Authority published a list of banks and insurers whose shares can no longer be sold short while Irish authorities also moved on Friday to prevent investors profiting from falls in bank shares.
Stocks soar on rescue hopes
The creation of a giant US government-sponsored vehicle to take on toxic assets looked possible as Treasury secretary Hank Paulson, Fed chief Ben Bernanke and top lawmakers convened a dramatic meeting to discuss the financial crisis. The move sparked sharp stock rallies in Europe and Asia. Regulators in the US and UK moved to curb short-selling of stocks