Pain spreads across nation

Kevin G. Hall, McClatchy Newspapers Comment on this story WASHINGTON - While all eyes Thursday were on Wall Street's plunge, its cause is being felt across America as the snowballing financial crisis sends an already weak economy into an accelerating decline. Dispatches from McClatchy newspapers in 30 U.S. cities make it clear that Main Street America is suffering from the deteriorating health of Wall Street. Banks are unable or unwilling to lend amid the growing crisis, and that's deepening the downturn. In Sacramento, Bertram Chatham runs seasonal Halloween stores that stay open just a few months of the year. Last year, he received a $26,000 line of credit, but as the credit crunch worsened recently, Wells Fargo cut it, allowing Chatham to tap just $10,000. He's opened one store instead of two this year; that means 30 fewer... [read full story]