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News stories tagged with "wall-street"

Clinton says government must do more to fix economy (full interview)

Federal Reserve chief Ben Bernanke said the financial crisis could prolong the difficulty that the economy is facing. Bernanke said he was confident the central bank's purchase of debt and the $700 billion bailout, approved by Congress last Friday, would help revive the nation's moribund economy. New York Senator Hillary Clinton voted for the bailout. Talking with Jonathan Brown, she explained why. Here's their full conversation.  Go to full article
Rep. John McHugh (R-Pierrepont Manor)
Rep. John McHugh (R-Pierrepont Manor)

McHugh: Bailout "ugly" but necessary

Lawmakers on both sides of the aisle reacted angrily and skeptically to the Bush Administration's $700-billion financial bailout plan yesterday. Democratic Senator Chris Dodd, who chairs the Senate Banking Committee that held yesterday's hearing, called the proposal "stunning and unprecedented in its scope and lack of detail." Republican Senator Jim Bunning of Kentucky called it "financial socialism." North Country Congressman John McHugh says he shares those concerns. But he says the bailout is necessary. The Republican told David Sommerstein many of the financial executives don't deserve saving.  Go to full article

On Saranac Lake's Main Street, fear and anger

On a day when Wall Street was in free fall and politicians were debating bailout plans in Albany and Washington, Brian Mann headed to Main Street in Saranac Lake. He wanted to find out how real business-people are reacting to the financial crisis. He sent this audio postcard.  Go to full article

Wall Street crisis looms over North Country governments, economy

The economic meltdown in New York City could have devastating repercussions here in the North Country. Across northern New York, local governments, including counties and school districts, are often the biggest employers. They provide crucial services from food stamps to education to health care. But much of the money that pays for those programs comes from taxes collected on Wall Street. Officials in Albany say the state revenue available to help local governments is drying up fast. Brian Mann spoke about the crisis yesterday with Stephen Acquario, head of the New York State Association of Counties.  Go to full article
Martha Foley talks with A.G. Eliot Spitzer
Martha Foley talks with A.G. Eliot Spitzer

Attorney General Eliot Spitzer in Potsdam

Eliot Spitzer was sworn in as New York Attorney General January 1, 1999. Since then, he has emerged as a crusader of national proportions -- for his investigations of conflict of interest among major Wall Street firms, his lawsuits against acid rain-linked Midwest power plants, and his criticism of the Bush Administration's revisions of Clean Air Act rules on power plant emissions. Spitzer is a Harvard law school graduate who clerked for a federal district judge, worked at private law firms in New York City, and prosecuted orgainzed crime and political corruption cases as an assistant district attorney in Manhattan. He's also a personable family man. It all makes for a nice package that has excited Democrats looking for a gubernatorial candidate for 2006.
And judging from his appearance at the annual St. Lawrence County Democratic Dinner Friday in Potsdam, Spitzer is good at the people-to-people requirements of a political career - meeting and greeting the party's faithful with enthusiasm. he spoke with North Country Public Radio News Director Martha Foley prior to the dinner.  Go to full article

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