My WBZ Morning Headlines 10/08/2008

[0:23] ..." Ed Walters will follow that WBZ news from after yesterday's bloodbath on Wall Street. The market is looking up after the Fed cuts its key interest -- this morning. Certainly if a robot soccer or --"...

[0:59] ..." leaky financial ship chairman Ben Bernanke has announced this morning the central bank will reduce its key interest rate. By half a percentage point from two to one and a half percent. This after Wall Street suffered another grueling day with the Dow losing more than 500 points. Art Hogan chief market strategist at Boston's Jefferies and company"...

[1:22] ..." The coordinated global central bank cut so it's not just us it's. The ECB the bank of England the bank of Canada. Back across the globe actually working in concert that's exactly what you -- execute our Fed cut alone it would have -- of the -- sort -- releasing the effects of what you get will be of coordination with central banks -- really you know attacking her global --"...

[1:47] ..." The problem is banks have been charging each other quite a bit more of in the federal funds rate Barroso bringing federal funds rate down doesn't automatically guarantees. Banks charge each other last much less but they'll charge anybody else last."...

[1:58] ..." Why is that why -- banks reluctant to two lend money to each other."...

[2:03] ..." Mr. there won't be paid back pitching too many problems in the banks lately. Banks are worried -- depend -- money to somebody else they may not get back."...

[2:13] ..." an 87 and a half billion dollar financial rescue plan for its banks it will partially nationalize major banks across Great Britain. Some people say that they're afraid even look at their for a one -- these days and there may"...

[3:55] ..." their homes Democrat Barack Obama maintained you have to go beyond helping Wall Street. The middle class need to rescue package and that means tax cuts for the middle class it means help. For homeowners so"...

[4:52] ..." The issue where that Senator Obama is that. He does a lot of things that are inconsistent with how we voted in the path that he needs to"...

[5:37] ..." and -- old boy there sure -- working with other central banks the Fed today announced a one half of 1% cut and key interest rate the -- vote was unanimous. The rate cuts sparked big turnaround for the good in the stock futures up now two and a half percent for yes and beat. Almost two point 4% for the NASDAQ they had been sharply lower much of the morning before the Fed announcement. And cutting rates the -- cited the intensification of the financial crisis. That increase the risks to growth and by working with the other markets the central bank's moderate coordinated effort to deal with the credit crisis that is something that market leaders have been seeking. And the Fed noted that it could lower rates W inflationary pressures have started to moderate. One other note Wal-Mart says same store sales rose two point 4% in the US and September that its attempts below where analysts were expecting a Wal-Mart retain huge third quarter earnings forecast. Business reports -- eight and thirty oh my goodness it's nice to have good news straight and 38 past the hour. Ron -- marketwatch.com."...

[0:00]" WBZ. WBZ. Agency. Wants to bet on -- is the most listened to station in new late breaking news WB. Newsradio. 1030 every day. WBZ news time 8 o'clock on this Wednesday morning he is the eighth of October and it's mostly sunny at Boston's 42 degrees. Good morning thanks for joining us I'm Ed Walters will follow that WBZ news from after yesterday's bloodbath on Wall Street. The market is looking up after the Fed cuts its key interest -- this morning. Certainly if a robot soccer or -- at least. Some interest rates are cut a couple of people who liquidity it has been throwing the economy was center stage at last night's presidential debate I would sort of sectors -- Immediately buy -- of bad home loans mortgages the middle class need to rescue. Wedding rings which disappeared after an elderly woman's death have been returned I'm Karen Twomey here's AccuWeather sunshine today a couple of showers late tonight and tomorrow morning -- back to sunshine for the rest of --"

[0:58]" That is taking action to fix a leaky financial ship chairman Ben Bernanke has announced this morning the central bank will reduce its key interest rate. By half a percentage point from two to one and a half percent. This after Wall Street suffered another grueling day with the Dow losing more than 500 points. Art Hogan chief market strategist at Boston's Jefferies and company and he tells WBZ's Deb Lawler this morning the -- was being echoed around the world."

[1:22]" The coordinated global central bank cut so it's not just us it's. The ECB the bank of England the bank of Canada. Back across the globe actually working in concert that's exactly what you -- execute our Fed cut alone it would have -- of the -- sort -- releasing the effects of what you get will be of coordination with central banks -- really you know attacking her global --"

[1:47]" The problem is banks have been charging each other quite a bit more of in the federal funds rate Barroso bringing federal funds rate down doesn't automatically guarantees. Banks charge each other last much less but they'll charge anybody else last."

[1:58]" Why is that why -- banks reluctant to two lend money to each other."

[2:03]" Mr. there won't be paid back pitching too many problems in the banks lately. Banks are worried -- depend -- money to somebody else they may not get back."

[2:10]" Britain's government has announced plans this morning for an 87 and a half billion dollar financial rescue plan for its banks it will partially nationalize major banks across Great Britain. Some people say that they're afraid even look at their for a one -- these days and there may be good reason the head of the Congressional Budget Office has retired players. Have lost as much as two trillion dollars over the past fifteen months about 20% of their value and he says that is going to make people rethink a lot of decisions from the purchase of big ticket items sit. The date when they plan to retire WBZ news stymied Oates who a -- claims at their mother's wedding rings were stolen write -- for fingers when she died in a hospital. Says the jewelry has now been returned WBZ's Karen Twomey reports."

[3:35]" Republican John McCain called for a 300 billion dollar program to keep homeowners from foreclosure I would order the secretary of treasury to immediately buy -- the bad home loans mortgages in America. And renegotiate. At the new value of those homes that the diminished value of those homes. And let people make those be able to make those payments and stay in their homes Democrat Barack Obama maintained you have to go beyond helping Wall Street. The middle class need to rescue package and that means tax cuts for the middle class it means help. For homeowners so that they can stay in their homes McCain and Obama also clashed on health -- I want to give every American -- 5000. Dollar refundable tax -- you're going to be able to -- the same kind of insurance that Senator McCain and I -- Don Huff WBZ Newsradio 1030 Michael Goldman -- democratic strategist with the government insight group -- in Boston says McCain did not connect with voters last night."

[4:52]" The issue where that Senator Obama is that. He does a lot of things that are inconsistent with how we voted in the path that he needs to answer why he changed his mind or whether he's just saying what needs to be had. An election season."

[5:36]" Up this morning run and -- old boy there sure -- working with other central banks the Fed today announced a one half of 1% cut and key interest rate the -- vote was unanimous. The rate cuts sparked big turnaround for the good in the stock futures up now two and a half percent for yes and beat. Almost two point 4% for the NASDAQ they had been sharply lower much of the morning before the Fed announcement. And cutting rates the -- cited the intensification of the financial crisis. That increase the risks to growth and by working with the other markets the central bank's moderate coordinated effort to deal with the credit crisis that is something that market leaders have been seeking. And the Fed noted that it could lower rates W inflationary pressures have started to moderate. One other note Wal-Mart says same store sales rose two point 4% in the US and September that its attempts below where analysts were expecting a Wal-Mart retain huge third quarter earnings forecast. Business reports -- eight and thirty oh my goodness it's nice to have good news straight and 38 past the hour. Ron -- marketwatch.com. On WBZ Newsradio ten for."