From Harper's Magazine:
American housing prices continued to fall, and financial institutions worldwide, which have lost $295 billion so far, were expected to lose hundreds of billions more.
1 2 McCain asked mortgage lenders to provide voluntary aid to homeowners, recalling that General Motors had offered no-interest car financing after September 11.
Senator Hillary Clinton suggested consulting former Federal Reserve Chairman Alan Greenspan. While Clinton conceded that Greenspan helped cause the current crisis, she claimed that he has a “calming influence” on Wall Street. “Don't ask me why,” she said, “because I never understand what he's saying.”