PRESS DIGEST - New York Times business news - Sept 23
Sept 23 (Reuters) - The following were the top stories in The New York Times business pages on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.
* The Bush administration and Congressional leaders moved closer to agreement on a historic $700 billion bailout for financial firms, including tight oversight of the program and new efforts to help homeowners at risk of foreclosure.
* While most economists say the crisis justifies an intervention, there is disagreement over how to go about it.
* Older Americans with investments are among the hardest hit by the turmoil, and have the least opportunity to recover.
* Europe and Japan have signaled they are not ready to mount a rescue of the kind being debated in the United States.
* Investors in Asia are skeptical that the government bailout plan will be enough to stave off underlying economic problems in America.
* As Morgan Stanley (MS.N: Cotización) and Goldman Sachs Group Inc (GS.N: Cotización) restructure as regulated bank holding companies, Wall Street will be an arena of greater stability and smaller profits.
* An investor has sued the Reserve Fund, a big mutual fund operator, accusing of it tipping other investors to impending losses.
* Not only are retailers grappling with a sputtering economy, but the credit crisis is making it harder for them to finance operations. Continuación...