Paulson vows action on crisis as earnings stagger

Wachovia Corp., which is being bought by Wells Fargo for about $14 billion in stock, said Wednesday it lost $23.89 billion in the third quarter. It earned $1.62 billion in the same quarter a year ago. Airplane maker Boeing reported its earnings slumped 38 percent as a strike halted production of commercial jets.

Tech companies are taking a hit, too, as the economy slows and spending by consumers and businesses drops. Yahoo is slashing 1,500 jobs while it braces for a deep downturn likely to extend well into 2009.

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Yep, all we need is a $3 trillion bailout. Let's have a vote on it so it's fair.

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