News The Morning News
posted by September 29 at 7:44 AMon
House Payment: Compromise bailout bill heads to Congress. House slated to vote today.
All sides had to surrender something. The administration had to accept limits on executive pay and tougher oversight; Democrats had to sacrifice a push to allow bankruptcy judges to rewrite mortgages; and Republicans fell short in their effort to require that the federal government insure, rather than buy, the bad debt. … The deal would also restrict gold-plated farewells for executives of companies that sell devalued assets to the Treasury Department.
Bank Buyout: Citigroup buys Wachovia Corporation, as orchestrated by government, for $2.2 billion. Citigroup will absorb $42 billion in losses; FDIC to swallow the rest.
Stock Plummet: Dow Jones drops 300 points in first half hour of trading.
Burning Book: Novel about the wives of Muhammad may have sparked arson of publisher’s house.
Failed State: McCain campaign conceding in Washington State.
Gay Bar: Washington State Bar Association unanimously votes to support same-sex marriage.
Speed Boat: Seventeen-year-old motor-boat driver plows into sailboat on Lake Washington, killing woman onboard.
Chemical Bothers: Potentially cancerous toxin found in South Park neighborhood. Residents advised to avoid dirt.
Gallup Poll: Obama takes eight-point lead. Third time his campaign held such a wide advantage. Meanwhile, 58 percent of Americans disapproved of McCain’s handling of Wall Street, and they thought he lost Friday’s debate.
Off of Africa: Somali pirates hold crew of massive Ukranian vessel loaded with tanks and weapons hostage in a “hot part of the ship.” One dead.
Not Kidding: Nebraska may repeal safe-haven law for abandoned minors. Sixteen kids—approximately half state’s population—abandoned since July.
Red Hawk Down: Medical helicopter crashes in D.C. suburb. Four on board killed, car-crash victim survives.
White Klan Up: Anti-immigrant, racist party gains ground, winning almost one-third of the vote, in Austria’s election.
The Surge in General: Thirty-two killed in Baghdad bombings on Sunday. Militants agitated for month of Ramadan.
Your Weekend Sucked: And it’s all our fault.