Congressional Democrats along with the White House members have been in discussion for many days to decide an emergency loan stimulus worth up to $15 billion to avoid the dissolving of the General Motors Corp and Chrysler LLC requiring Longer-term help will could be on the path if certain conditions were mutually agreed upon.

Documentations declare that the top managerial personnel at Fannie Mae and Freddie Mac were cautioned years before that the companies were providing mortgages which could cause a long-term threat to the institutions, borrowers and the mortgage industry.

“In documents obtained by the newspaper, Fannie and Freddie pushed into new, risky markets despite debates within the companies about whether the moves were prudent.” per reports from Washington Post.

Federal regulators are also making a rescue plan to help with the finances of some of the large credit unions by making use of billions of dollars in fresh government borrowings, per reports from the Wall Street Journal.

This plan is not something that is based on the taxpayer-funded bailout, but it is a short-term "mechanism to stabilize the credit-union system" however regulators are working on some other steps which are expected to be declared in 2009, per Michael Fryzel, who is the chairman of the National Credit Union Administration (NCUA) in his reports to the media.

Global airlines have met with a total loss of $5.0 billion in 2008 and they are expecting a $2.5 billion in 2009 since the economic crisis is going maniac, per The International Air Transport Association (IATA) stated on Tuesday. The 2008 statistics is a bit less than what the industry predicted in September, probably due to the unbelievable but rapid decline in the fuel prices, but the 2009 statistics was less than the $4.1 billion forecast made before, but it is less likely that in reality that will come down.

The publishing company of the Chicago Tribune and the Los Angeles Times filed bankruptcy on Monday due to the huge loss of readers. The Tribune Co, which is owning a number of daily newspapers and a lot of television stations, have already filed for Chapter 11 protection after a heavy debt load.
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