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Huge Lender New Century Files for Bankruptcy
New Century, a subprime lender that was once the second-largest in the industry, has filed for bankruptcy. The company is joining the ranks of many other subprime lenders to crash and burn in the housing market downturn.
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U.S. Treasury To Follow Europe, Invest In Banks
President Bush announced plans Tuesday to pump billions of dollars in new capital into U.S. banks. The package follows similar steps by European governments announced Monday. In both cases, the moves will deepen government roles in the economy.
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After Passage In Senate, House To Vote On Bailout
The House votes again Friday on the bailout. It failed to pass the measure on Monday, but the Senate's passage of the bill may persuade some lawmakers to switch their votes. The $810 billion question: Will it pass?
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McClellan: Bush Embraced Political 'Game' Too Often
Former White House Press Secretary Scott McClellan insists his scathing memoir is not the work of a disgruntled ex-employee — as some of his old colleagues have argued — but an effort to tell the truth to help clean up Washington.
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Unemployed Without Benefits: A Couple's Struggle
Barbara and Gary Ratner, who live in Atlanta, aren't eligible for unemployment assistance, so they're seeking creative ways to make ends meet. The couple — in their 60s — have drawn $10,000 out of retirement and are considering dropping their health insurance.
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Obama Unveils National Security Team
President-elect Barack Obama has unveiled his national security team. Among the main appointments: Defense Secretary Robert Gates is staying on at the Pentagon, Sen. Hillary Clinton will be secretary of state and Eric Holder will be the attorney general.
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NPR Baghdad Reporter: Violence Up In Iraq
NPR's Ivan Watson, who had a close call Sunday when his car was targeted by a bomb, says there has been an increase in violence in the Iraqi capital. He says in November alone, there were 108 bombings in the city with a civilian death toll of 148.
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Judge Urged To Jail Madoff Without Bail
Prosecutors in New York are asking a judge to put Bernard Madoff behind bars without bail. They told the judge Monday that the disgraced financier had violated bail conditions by mailing about $1 million worth of jewelry and other assets to relatives. At roughly the same time in Washington, a House hearing got under way on how regulators missed the alleged $50 billion Ponzi scheme Madoff is accused of running.
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Olmert Corruption Trial Begins In Israel
The trial of former Israeli Prime Minister Ehud Olmert on corruption charges began Friday in Jerusalem. Among other things, Olmert is accused of receiving illegal contributions from a Jewish-American businessman.
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In Ohio, McCain Warns Against One-Party Rule
Republican presidential candidate John McCain has told supporters in Ohio that with eight days to go voters could either keep their money or give it to Barack Obama and the Democratic presidential nominee's congressional allies Nancy Pelosi and Harry Reid.
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