Economy Sep 24 President Calls for Sweeping Government Intervention in U.S. Economy Warning "our entire economy is in danger", President Bush made a somber address to the nation Wednesday, outlining the need for a sweeping government intervention in the nation's financial system in order to prevent widespread collapse.
Economy Sep 24 Buffett Sinks $5 Billion Into Goldman Sachs As debate swirled on Capitol Hill over a proposed financial rescue plan, renowned investor Warren Buffett decided late Tuesday to buy a $5 billion stake in embattled Wall Street Titan Goldman Sachs.
World Sep 23 In U.N. Speech, President Bush Urges Unity Against Terrorism In his eighth and final address to the U.N. General Assembly Tuesday, President Bush said that multinational organizations are now "needed more urgently than ever" to combat terrorists and extremists.
Economy Sep 23 Bernanke and Paulson Urge Congress to Act; Lawmakers Call for More Time Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson urged Congress to pass a $700 billion financial bailout Tuesday, saying the national economy could suffer more if too much time passes.
Economy Sep 22 Profiles of the Troubled Financial Giants An updated look at some of the players involved the financial industry's recent turmoil:…
Economy Sep 17 Stocks Plunge Despite Fed’s $85B Bailout of AIG Even though the U.S. government threw an $85 billion lifeline to troubled insurer American International Group, Inc. Tuesday, U.S. stocks took another beating Wednesday led by plummeting shares of investment banks Morgan Stanley and Goldman Sachs.
Politics Sep 17 Israel’s Top Party Voting on Olmert Replacement Israel's governing party, Kadima, is voting on a new leader Wednesday with polls indicating that the country's foreign minister, Tzipi Livni, will be the likely winner.
Politics Sep 16 Mullen Visits Pakistan to Ease Tensions Over Raids Top U.S. military officer Adm. Mike Mullen went to Pakistan Tuesday to discuss concerns over Islamabad's efforts to combat militant fighters and to address rising tensions over reports that U.S. forces have engaged in unauthorized raids there.
Economy Sep 16 Fed Rejects Rate Cut, Global Markets Retreat amid Wall Street Turmoil The Federal Reserve Tuesday announced it will not lower a key interest rate below 2 percent despite Wall Street's major troubles and a drop in global markets.
Economy Sep 15 Lehman Brothers Files for Bankruptcy, Merrill Lynch Sells to Bank of America After a frantic weekend that shook Wall Street to the core, Lehman Brothers filed for bankruptcy Monday under the weight of $60 billion in bad real estate holdings and Bank of America moved to buy Merrill Lynch in a $50…