CNBC.com News Now: Bailout Approved

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DOW 10325.38 -157.47 -1.5% NASDAQ 1947.39 -29.33 -1.48% S&P 1099.23 -15.05 -1.35%   Friday, Oct. 03, 2008   CNBC TASK FORCE     Carl Quintanilla, Co-Anchor of "Squawk Box" Sometimes, the smartest strategy is: do what the nation's biggest companies are doing. a) cutting costs and dividends. B) stockpiling cash. And c) trimming or eliminating their stock buybacks. What's the lesson? CEO's and CFO's are planning for more economic pain ahead. Maybe it's time to watch your spending at home, to preserve capital, avoid taking on more debt -- and wait for stocks to get cheaper before going shopping for equities. Experts may have different opinions, but there's something to be said for the "wisdom of crowds", especially when those "crowds" include the heads of public companies -- and the armies of advisors who are paid to tell THEM what to do next.     WHAT YOU SHOULD KNOW     Bailout Approved: What happens now? The biggest tax breaks in the financial industry bailout may be those that aren't even in the bill. Banks and other financial institutions can conceivably write off billions of dollars in losses after they sell bad mortgage assets to the government...read more     Three Ways to Benefit From the Downturn Pollyanna I am not, however, I am unable to be 'down' for long periods of time. My tendency is to always search for, and find, the upside. So where is the silver lining in all this mess...read more     Wall Street Gets Rescue, But What About Stocks? Stocks didn't even get a short-term boost from today's approval of a $700 billion financial rescue package, and the longer-term outlook isn't any better...read more     Is the Bailout Enough? Debating whether the bailout will be enough to rescue the U.S. economy, with Dean Baker, from the Center for Economic & Policy Research; David Malpass, of Encima Global; and Marc Morial, of the National Urban League...read more   The deal is done, the motion is adopted, but the story is far from over. Tonight, CNBC's Special report brings you continued coverage of the bailout decision and how it affects your money. "Wall Street Crisis: Is Your Money Safe?" hosted by Larry Kudlow.     TODAY'S TOP 5 VIDEOS     1. House Votes On Bailout The House begins to vote on the financial rescue package. Traders react, and the CNBC new team shares their analysis.     2. Buffett on the Bailout Bill Warren Buffett shares his reaction to the House's passage of the financial bailout bill     3. Reaction to Congress with Bill Gross Reaction to the House's passage of the bailout bill, with Pimco's Bill Gross; Tobias Levkovich, of Citi; and William Thompson, NYC Comptroller     4. Wells Takes Wachovia Richard Kovacevich, chairman of Wells Fargo, is leading the company's $15 billion bid for Wachovia. He joins CNBC's Maria Bartiromo.     5. Stop Trading, Listen to Cramer! Mad Money's Jim Cramer shares his stock picks and pans with CNBC's Erin Burnett.     Click here to view all of today's top videos on CNBC.com     CNBC.com BLOG OF THE DAY     Latest Jobs' Health Rumor: It's NOT True He Had Heart Attack Rumors from the internet continue to swirl around the health of Apple CEO Steve jobs...read more See All CNBC.com Blogs   Watch CNBC live on your desktop. Click here to find out how.   NEWS MARKETS EARNINGS INVESTING VIDEO CNBC TV CNBC PLUS   (c) 2008 CNBC, Inc. All Rights Reserved

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