Cut to the News

Wednesday, September 17, 2008

LEADING THE NEWS

U.S. Takes Over AIG in $85 Billion Fed Bailout . . . Deal shows intensity of government's concerns about the danger a collapse could pose to the financial system. New York Times
Blasts Rock U.S. Embassy in Yemen . . . More than a dozen are killed in two explosions. Gunfire exchanged. BBC
Fed Resists Pressure to Cut Rates . . . Fed's stance suggests little enthusiasm for fighting the financial crisis with more interest-rate cuts. Wall Street Journal

POLITICS

House Approves Offshore Drilling . . . But bill faces uncertain future in Senate and veto threat from Bush.
Wall Street Journal
Official Says Palin Team Implied Trooper Should Go . . . Alaska official was eventually fired, but McCain campaign denies it was because he failed to fire trooper. Wall Street Journal
McCain Has Long Supported Deregulation . . . Obama record on such matters is thin. Bloomberg
It's the Economy Again, Stupid . . . Obama takes page out of Clinton playbook, tries to shift focus of campaign. New York Times

NATIONAL SECURITY

U.S. Commander Talks With Angry Pakistanis
Admiral Mike Mullen Aims to patch up ties strained by flurry of U.S. strikes against militants in Pakistan. Reuters
Gates Apologizes for Deaths of Afghan Civilians . . . In Afghanistan, defense secretary pledges to do more to avoid civilain casualties. New York Times
FBI Tells Congress Anthrax Inquiry Conclusive . . . FBI Director Mueller expresses confidence Army scientist Bruce Ivins was responsible. USA Today

BUSINESS

Inflation Eases on Oil Price Drop . . . Consumer prices fell 0.1% last month. First decline in nearly two years.
Wall Street Journal
Stocks Rebounded Tuesday . . . Optimism on AIG lifts market 141 points after 504 points fall Monday. Wall Street Journal
Government Erases Line it Drew on Lehman . . . Has Fed wiped out credibility it gained on Lehman? Monetizing profits, socializing losses. Reuters
Morgan Stanley May Merge With a Bank . . . Stock zigzagging. Firm wants to avoid mistakes by Lehman, which resisted buyout. CNBC
Barclays Sets Deal for Lehman . . . Fire-sale price of $1.75 billion is far less than Lehman had hoped for. New York Times

WORLD NEWS

Thai Parliament Elects New Leader . . . Somchai Wongsawat is brother-in-law of ousted Thai leader Thaksin Shinawatra. BBC
Vast Numbers Sickend in China by Baby Formula . . . More than 1,300 babies remained hospitalized, including 158 for acute kidney failure. New York Times
Israel's Leading Party Picking New Leader . . . Front-runners to succeed PM Olmert are Foreign Minister Tzipi Livni and Transport Minister Shaul Mofaz. BBC

YOU MUST ALSO KNOW . . .

Population on a Diet Declines . . . More "eating to enjoy," focusing on healthier foods rather than less.
New York Times
Amy Poehler to Leave Saturday Night Live . . . Will go on maternity leave in November and then focus on new series. Men's Vogue
Texas Coping With Chaos . . . Struggle continues to meet basic needs in wake of Hurricane Ike as victims begin to put lives back together.
USA Today

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