http://www.nytimes.com/pages/business/index.html
A Crisis in Finance Stocks Fall Sharply on Credit Concerns By MICHAEL M. GRYNBAUM 13 minutes ago Brendan McDermid/ReutersA trader on the floor of the New York Stock Exchange on Monday. Stocks tumbled on Wall Street and around the world and oil fell below $90 on Monday as the banking crisis expanded its grip on the world economy. Europe Tested by Financial Crisis By CARTER DOUGHERTY, NELSON SCHWARTZ and FLOYD NORRIS 42 minutes ago The crisis has underlined the difficulty of taking concerted action in Europe because its economies are far more integrated than its governing structures. Lehman Chief Says Turmoil Overwhelmed Bank By BEN WHITE 30 minutes ago Richard A. Fuld plans to tell Congress that he failed to anticipate the severity of the credit crisis and never thought it would crush the investment bank he helped build into a global power. Fed Takes Steps Given Under Bailout Bill By THE ASSOCIATED PRESS 35 minutes ago The Federal Reserve said that it would begin paying interest on commercial banks’ reserves and would expand its loan program to squeezed banks by billions of dollars. Floyd Norris:The Government as a Business Lender Full of Doubts, U.S. Shoppers Cut Spending By LOUIS UCHITELLE, ANDREW MARTIN and STEPHANIE ROSENBLOOM Consumers are pulling back on their spending, all but guaranteeing that the economic situation will get worse. mm.DI = true; mm.LI = false; mm.AH = "Back Story With The Times's Louis Uchitelle"; mm.AS = "20081006_Backstory-Uchitelle_audio"; mm.AD = "400"; mm.AU = "http://graphics8.nytimes.com/podcasts/2008/10/06/06backstory-uchitelle.mp3";; mm.IU = ""; writePlayer(); Back Story With The Times's Louis Uchitelle (mp3)
