| IMF warns of global financial meltdown |
The International Monetary Fund warned Saturday that debt-ridden banks were pushing the global financial system to the brink of meltdown and rich nations had so far failed to restore confidence. |
| Billy Graham hospitalized after fall at home |
| Evangelist Billy Graham was hospitalized Saturday after tripping and falling over one of his dogs at his North Carolina home, a hospital spokeswoman said. |
| Grounded Teen Gets 25 to Life for Mom's Murder |
Rachael Mullenix, the Huntington Beach teenager who conspired with her love-struck boyfriend to murder her mother and dump the slashed body into Newport Harbor, expressed only grudging and limited remorse Friday as a judge sentenced her to 25 years to life in prison. |
| AP: Palin Blurs Line Between Church And State As Governor |
| An Associated Press review of the Republican vice presidential candidate's record as mayor and governor reveals her use of elected office to promote religious causes, sometimes at taxpayer expense and in ways that blur the line between church and state. |
| U.S. takes North Korea off terror list |
The United States on Saturday removed North Korea from its list of states that sponsor terrorism, State Department spokesman Sean McCormack said. |
| Bush: US will work with partners on credit crisis |
President Bush emerged from a meeting with foreign financial officials on Saturday and pledged a global response to the credit crisis that will lead toward a "path of stability and long-term growth." Bush announced no new strategies to attack the economic woes circling the globe, stressing instead, "We will do what it takes to resolve the crisis and the world's economy will emerge stronger as a result." |
| Reports: GM, Chrysler hold merger talks |
General Motors has held discussions about acquiring Chrysler, The New York Times and Wall Street Journal reported late Friday. |
| Panel finds Palin abused authority in firing |
Sarah Palin unlawfully abused her power as governor by trying to have her former brother-in-law fired as a state trooper, the chief investigator of an Alaska legislative panel concluded Friday. The politically charged inquiry imperiled her reputation as a reformer on John McCain's Republican ticket. |
| G-7 Finance ministers: 'Urgent' action needed |
Officials from top economies vow to cooperate to contain financial crisis. NEW YORK (CNNMoney.com) -- Finance ministers from the world's top economies pledged Friday to work together to stabilize global financial markets. "The G-7 agrees today that the current situation calls for urgent and exceptional action," the leaders, who are meeting in Washington D.C., said in a statement. "We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth." |
| U.S. will buy stock in banks, Paulson says |
Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial institutions. It would mark the first time the government has taken equity ownership in banks in this manner since a similar program was employed during the Great Depression. |
| Bush: We can solve this crisis |
President Bush said today that the government's financial rescue plan was aggressive enough and big enough to work, but would take time to fully kick in. |
| As Financial Crisis Spreads, So Does Phishing |
As the worldwide financial crisis deepens, typical of any such event, there are those who are going to try to take advantage of it. You'll recall phishing upticks that occurred after events such as Katrina or the Asian tsunami in 2004, for example. For those unaware of what phishing is, it's the process of attempting to acquire sensitive information such as passwords, credit card numbers and Social Security numbers, by using a faked email or other electronic communication purportedly from some company or government organization. |
| Dow plunges below 8,000 in early trading |
| Wall Street opened to another huge decline Friday, extending a global sell-off on concerns that even low interest rates won't help end the worsening credit crisis. The Dow Jones industrials broke through 8,000 shortly after the opening bell in New York. |
| Analysis: The end of American capitalism? |
| The worst financial crisis since the Great Depression is claiming another casualty: American-style capitalism. |
| Dow falls below 9,000 as stocks extend declines |
The Dow Jones industrials have fallen below the 9,000 mark, hurt by a steep decline in shares of General Motors Corp. The blue chip index is extending its selling to a seventh straight day Thursday as investors grapple with worries about the credit markets and the economy. |
| States' purges of voter rolls appear illegal |
Although much attention this year has been focused on the millions of new voters being added to the rolls by the candidacy of Senator Barack Obama, there has been far less notice given to the number of voters being dropped from those same rolls. |
| President Bush Has Threatened To Veto Speaker Pelosi's $150 Billion Stimulus Package Proposal |
| Once again President Bush has shown his contempt for working class Americans by stating he would veto a stimulus package proposal introduced by House Speaker Nancy Pelosi to help struggling Americans. That is interesting being that the President rushed to assist big business. This was no surprise, but here is the skinny on how we are being robbed by our own government. Bear Stearns---$30 billion Freddie Mac & Fannie Mae---$200 billion AIG----$122 billion Wall Street-----------------$800 billion The working and middle income Americans; well, we get the bill. |
| US debt clock runs out of digits |
The US government's debts have ballooned so badly the National Debt Clock in New York has run out of digits to record the spiralling figure. |
| Court blocks Gitmo detainee-release scheme |
A federal appeals court on Wednesday temporarily blocked a judge's decision to immediately free 17 Chinese Muslims at Guantnamo Bay into the United States. |
| Fed lends AIG an additional $38 billion |
The Federal Reserve announced Wednesday it was lending billions of additional funds to cash-strapped American International Group Inc. Under the program, the New York Federal Reserve Bank will provide $37.8 billion in additional cash to certain domestic life insurance subsidiaries of AIG in return for investment-grade, fixed-income securities. |