Congress opens hearings on financial meltdown (AP)
Posted by admin on October 6th, 2008 filed in newsComments Off
AP - Congress heard Monday that Lehman Brothers, days away from becoming the largest bankruptcy in U.S. history, was pleading for a federal rescue on one hand while steering millions in dollars to departing executives on the other.
Palin cranks up assault on Obama’s character (AFP)
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AFP - Republican vice presidential pick Sarah Palin Monday kept up her charge that White House rival Barack Obama associated with a "terrorist" in relentless campaign rhetoric less than a month before the vote.
Credit still tight as Europe governments scramble (AP)
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AP - The jammed credit markets barely budged Monday as European governments scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage assets.
McCain, Obama on the issues (AP)
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AP - A look at where Democrat Barack Obama and Republican John McCain stand on a selection of issues:
Lawmaker’s home bombed in Pakistan; 15 dead (AP)
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AP - A suicide bomber attacked a lawmaker's house in eastern Pakistan on Monday, killing at least 15 people and wounding more than 50, officials and a witness said.
EBay cuts jobs, buys Bill Me Later (AFP)
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AFP - Online auction giant eBay Inc. announced on Monday it was cutting 1,000 permanent employees and several hundred temporary workers, about 10 percent of its global workforce.
Top court again rejects abortion poster case (AP)
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AP - The Supreme Court has rejected for the third time an appeal by anti-abortion activists to undo a multimillion-dollar verdict for their use of "wanted" posters to identify abortion clinic doctors.
McCain, Obama go for jugular (Politico)
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Politico - It’s Mud Monday. For the presidential campaigns, the financial crisis as an all-consuming topic is yesterday’s news.
Strong Tibet quake kills at least 30: report (Reuters)
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Reuters - A magnitude 6.6 earthquake killed at least 30 people in Tibet on Monday with a number of people buried in debris, Xinhua news agency said.
EBay to cut 1,000 jobs, will buy Bill Me Later (AP)
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AP - EBay Inc., which still reaps big profits but has been struggling to attract new users, said Monday it will cut about 1,000 jobs in an attempt to streamline its business. The cuts amount to 10 percent of eBay's work force.