In The Morning News

USA Today: Announcement of Fed’s Plans Lead to Stock Market Surge
“Fed officials approved the plans during a Monday evening video conference that lasted about 90 minutes,” in “the latest in a series of aggressive moves including some of the steepest interest rate cuts in Fed history, discounted loans to banks and funding auctions — aimed at stabilizing markets and the economy.” But some “analysts doubted the ability of the Fed plan to spark a fundamental turnaround in multitrillion-dollar credit products.”
Market Watch: Many Investors Don’t Fully Understand the Benefits of Retirement Savings Programs
44% of Americans say they don’t understand how an IRA works. That number goes up to half of people aged 18 to 49, the prime age range for people looking to get a jumpstart on retirement savings.” Richard Hisey, “chief investment officer for AARP Financial,” said, “People are very busy, they’re working trying to make ends meet, so they don’t have the time to really look into it.” Hisey adds, “There are some nice tax advantages that average people are missing out on, where the only excuse for missing out is that they don’t know … because if you did know the advantages, you would want to take them.” Hisey notes that the “saver’s tax credit” is also “underutilized.” Hisey continues, “And then there’s the economic stimulus package, which is money people didn’t otherwise expect that could be used to start an IRA, and you have a lot of ways to get a head start right now.”
AP: Coalition of Hospitals to Sue Government Over Medicaid Restrictions
“Groups representing most of the nation’s hospitals announced yesterday they were suing federal health officials to block the enactment of regulations that some hospitals claim threaten their survival.” The groups are protesting regulations that would “restrict federal Medicaid payments so they don’t exceed the cost of providing care. Hospital officials said the rules would make it harder to offset the expense of treating the uninsured.” The new regulations were sought by the Bush administration to “make it harder for states to use financing schemes designed to increase federal Medicaid payments without increasing the state’s share similarly.”