American Express becomes a bank holding company and asks for $3.5 billion dollars under the bailout plan.
The Big Three car companies lobby for a $25 billion bailout.
The Office of the Comptroller of the Currency rejects a request for a special program that would allow credit card debt to be forgiven for consumers who don't qualify for existing repayment plans.
Wall Street falls hard for the third straight session after Treasury Secretary Paulson announces that the government won't buy banks' toxic mortgage assets after all.
Overall, we are in a better position than we were, but we must address the continued challenges of a weak economy, especially the housing correction and lending contraction....The road ahead, for the U.S. economy and the global economy, is full of challenges. And it will take strong leadership to address them. I am confident the United States, under this and the next Administration, will rise to these challenges. I will do everything I can to put us on the right path, both by working diligently through the end of my term and by working closely to ensure the smoothest possible transition.
Leaders from the world's 20 most powerful economies will take steps to fight the global financial turmoil at an emergency meeting this weekend.
Whenever I find myself growing grim about the mouth; whenever it is a damp, drizzly November in my soul; whenever I find myself involuntarily pausing before coffin warehouses, and bringing up the rear of every funeral I meet; and especially whenever my hypos get such an upper hand of me, that it requires a strong moral principle to prevent me from deliberately stepping into the street, and methodically knocking people's hats off -- then, I account it high time to get to sea as soon as I can.
- Herman Melville, "Moby Dick"
His last piece was the celebrated "Lb Malade Imaginaire," to the fourth representation of which be fell a sacrifice.
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