Cut to the News

Monday, September 15, 2008

LEADING THE NEWS

Lehman Bros. Files for Bankruptcy . . . The largest filing in history. Wall Street in crisis as ripple effect feared. Bloomberg
Bank of America Buys Merrill . . . Firm seemed likely to be next after Lehman. New combo represents an enormous firm of vast reach. Wall Street Journal

POLITICS

Gov. Palin Sought $453 Mil. in Earmarks . . . She and McCain vociferously criticize the practice. Palin says she reduced requests. Wall Street Journal
Obama Raises $66M in August, McCain $47M . . . Obama's is highest total ever for a presidential candidate, McCain's a personal best. USA Today
Cheney Led Effort to Keep Domestic Spying Program . . . Bush was mostly out of the picture. Washington Post
Four Big States to Dominate Election . . . As in past two campaigns, candidates will focus heavily on Pennsylvania, Michigan, Ohio and Florida. Washington Post
Palin's Use of Private Email Accounts Questioned . . . Could have been used to promote secrecy. McClatchy
McCain Endorsed By His Vietnam Jailer . . . "In a talk between men we shared many things about girls and love and so on," says Tran Trong Duyet. Daily Telegraph

NATIONAL SECURITY

Pakistani Troops Turn Back U.S. Choppers . . . Aircraft had gone into country from Afghanistan. Reuters
NATO Chief Says Russian Pullout Deal Unacceptable . . . Jaap de Hoop Scheffer criticizes provisions allowing Russian troops to stay in Georgia. Arrives in Tblisi to show support. Reuters
Pentagon Seeking Bunker Busting Bombs . . . Ordinance could be used to get at WMD programs like Iran's. USA Today

BUSINESS NEWS

Fed Expands Lending Facilities . . . Move made to calm markets as they head into one of the most perilous trading environments in decades. Wall Street Journal
AIG Scrambling to Raise Cash . . . Largest U.S. insurer imperiled by possibility of credit rating downgrade. Seeks to sell assets and wants $40 billion loan from Fed. New York Times
European Central Banks Injecting Billions into Markets
Hope to ensure weekend turmoil on Wall Street does not spread to rest of world's financial systems. New York Times
Banks Roll Out $70 Billion Loan Program . . . JPMorgan Chase, Goldman Sachs among 10 banks committing $7 billion each in bid to ease credit shortage for financial companies. USA Today

INTERNATIONAL

Thai Ruling Party Abandons Samak . . . Former PM rebuffed in bid to regain office he lost days ago.
Wall Street Journal
Zimbabwe Rivals Sign Historic Pact . . . President Robert Mugabe and opposition leader Morgan Tsvangirai to share power. BBC
Russian Pilot Acted Oddly . . . Pilot of doomed aircraft, which crashed and killed 88, wasn't following instructions. BBC
Putin Browbeats Russian Media . . . At meeting during Georgia crisis, demanded coverage favorable to Moscow. Washington Post

YOU MUST ALSO KNOW . . .

LA Crash Probe: Was Signal Broken or Missed? . . . Federal officials rebuke LA for assigning blame to engineer too soon. Los Angeles Times
Millions Struggle to Cope in Ike's Aftermath . . . Lives dismantled indefinitely by the loss of everything from power and water to property and even people. Houston Chronicle
Rescue Teams Scour Texas Coast . . . Largest rescue operation in Texas history taking nearly 2,000 people by boat and helicopter from towns ravaged by floods. New York Times
Star Trek Actor George Takei Marries Boyfriend . . . Other series alumni attend wedding of "Mr. Sulu." Reuters

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