PRESS DIGEST - Washington Post Business - Sept. 18
WASHINGTON, Sept. 18 (Reuters) - The Washington Post included the following items on the front page of its business section on Sept. 18.
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The cascading losses on Wall Street increasingly threaten the safety of investments in money-market mutual funds, which have long enjoyed a reputation for being almost as safe as bank accounts.
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The price of gold soared more than 8 percent Wednesday, the biggest one-day jump in at least eight years, as investors looked for a safe place to park their money during the spreading financial crisis.
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One day after the government committed $85 billion in taxpayer dollars to rescue insurance giant American International Group, the ultimate cost of the bailout was in dispute.
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NEW YORK -- The traditional model of investment banking came under renewed threat as Morgan Stanley and Goldman Sachs, the two remaining giants of this beleaguered Wall Street industry, suffered stunning losses only one day after they reported quarterly earnings that exceeded analysts' expectations.
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Market turbulence continued to ripple through the energy industry on Wednesday.
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