Word: nationalizes
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...current crisis, it wouldn't be enough to do the job. Nor is it the most effective way, Treasury officials argue. Leaving those toxic mortgage-backed assets on financial institution balance sheets, they say, would not provide the additional liquidity that banks desperately need right now to get the nation's paralyzed credit markets flowing again. They also believe that it is largely unworkable because it would not help solve the problem banks are struggling with now - how to value those distressed securities...
...much in this election cycle, tonight's scheduled presidential debate in Oxford, Miss., is historic: never in the 48-year history of televised debates has a presidential face-off been so much in doubt mere hours before it was supposed to commence. Such is the depth of the nation's financial crisis and the creativity - selfless or craven, depending on your point of view - that until this morning, we didn't know if Jim Lehrer would have anyone to pose questions...
...would help the school shed the racial-backwater image that has clung to it since its embattled 1962 integration, when 120 federal marshals could barely hold back the violent riots that left two civilians dead and dozens injured. The fact that the debate participants will include Barack Obama, the nation's first black presidential nominee of a major party, would only add to the symbolism. The high-profile event is a chance "to invite the nation and the world to visit us and see Ole Miss today," says university chancellor Robert Khayat. "This is a very different place from...
...latest maneuvering came after yet another morning of high-stakes political theater in Washington. President Bush made an unusual, market-calming appearance in the Rose Garden just after 9.30 a.m. to reassure the nation that all parties were seeking a speedy solution to the bailout stalemate. Negotiations continued at the staff level on Capitol Hill this morning. In general, House Republicans continue to object on free market grounds to the President's bailout plan, while Senate Republicans, as well as Democrats in both houses, have been more supportive. Democratic leaders have been reluctant to move the measure through either...
...sustain their Afghan offensive. The U.S. has stepped up air strikes against targets in Pakistan and earlier this month, for the first time, launched a ground raid into Pakistan. The stepped up U.S. campaign has generated outrage in Pakistan, leading the army to declare it will defend the nation's sovereignty even if that means shooting at U.S. forces detected in Pakistani territory...