SNAPSHOT - Financial Crisis - 2330 GMT

NEWS

- Obama mounts full-scale push for government authority to
shut down troubled institutions like insurer AIG to avoid the
need for future bailouts.

- Obama urges fellow leaders to agree swift action at G20
next week to spur global recovery

- Facing anger on corporate bonuses and scepticism about
his budget, Obama to hold news conference explaining economic
steps

- Fed Chairman Bernanke says the rescue of AIG was
warranted to avoid a potential 1930s style meltdown and showed
new rules are essential

- U.S. mortgage demand balloons after Federal Reserve
actions drives down U.S. borrowing costs. Sales of previously
owned U.S. homes rise at fastest pace in nearly six years in
Feb

MARKETS

- U.S. stocks slide as investors paused a day after a huge
bounce to gauge if the government's plan to shore up bank
balance sheets will succeed.

- U.S. long bond rockets higher on Fed plan

- Dollar rises in resumed safe-haven buying as optimism
over U.S. bank plan dims USD=

- Crude oil prices retreat as dealers eyed stockpiles
CLc1

QUOTES

"AIG highlights the urgent need for new resolution
procedures for systemically important nonbank financial firms."
- Bernanke.

"The great risk that we face now is that after a long
period of irresponsibility and excessive risk-taking, that the
system will not take enough risk now." - Treasury Secretary
Geithner.

"The long-awaited U.S. program is finally out, and that is
significant enough to bring some stability to the market." -
Minoru Shioiri, chief manager of currency trading at Mitsubishi
UFJ Securities in Tokyo.

"I'm afraid that the economy will continue to slide down
well into next year ... I think there will be a need for
another fiscal stimulus package at some point." - economist and
Obama adviser Martin Feldstein.

DIARY

(all times GMT)

TUESDAY, March 24

WASHINGTON - Obama holds televised news conference at 8
p.m. EDT (0000 GMT).

WASHINGTON - U.S. House Financial Services Committee holds
a hearing with Geithner and Bernanke testifying about AIG's
payment of retention bonuses.

WASHINGTON - U.S. House Financial Services Committee to
consider legislation to prohibit bonus payments by companies
who have received government bailout funds.

TOKYO - BOJ to publish minutes of Feb. 18-19 monetary
policy meeting.
(Compiled by World Desk Americas)