Carmakers, deflation gin up buzz

On Thursday, Congress threw up its hands, for now, on a rescue for Detroit automakers, and the week saw markets hit new lows in an ever-deepening economic crisis that now includes worries of deflation.

"Until they show us the plan, we cannot show them the money."

- House Speaker Nancy Pelosi, on the collapse of efforts to bail out carmakers

"Inaction is simply not an option."

- United Auto Workers union president Ron Gettelfinger

"Hideous day."

- Bill Stone, chief investment strategist at PNC Wealth Management, on the markets' midweek dive

"To this day, they don't know what the exposure is in hedge funds and credit default swaps - and that is a scandal of enormous proportions."

- author Howard M. Wachtel, on Washington's long-term failure to oversee Wall Street

"Much more aggressive intervention is needed if we are to curb the damage to our neighborhoods and broader economic health."

- Federal Deposit Insurance Corp. chairwoman Sheila Bair, on her agency's call to use bailout money to help stop mortgage foreclosures

"We are done with all acquisition discussions with Yahoo."

- Microsoft Corp. chief executive officer Steve Ballmer

"Disinflation is now a reality, and deflation will be the next major risk to financial markets."

- Mizuho Securities chief economist Steven Ricchiuto, on the sharp October fall in the Consumer Price Index

"We're committed to making sure that deflation doesn't turn out to be a serious concern."

- Federal Reserve
Bank of Philadelphia president Charles Plosser