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USA UK and Malta News
13/10/2008 - 19:55

USA Today Editoweb 13 october 2008

Wall Street soars as government pledges bank aid - Obama calls for 90-day moratorium on foreclosures - McCain vows to fight for new direction.



Wall Street soars as government pledges bank aid

Wall Street snapped back from last week's devastating losses after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks of some banks. All the major indexes rose about 7 percent, and the Dow Jones industrials rose as much as 600 points.

Obama calls for 90-day moratorium on foreclosures

Democratic Barack Obama on Monday called for more immediate steps to heal the nation's ailing economy, proposing a 90-day moratorium on home foreclosures at some banks and a two-year tax break for businesses that create new jobs.

McCain vows to fight for new direction

Republican John McCain pledged to fight for a new direction for the country in an energetic new campaign stump speech Monday that sought to distance him from the economic policies of President Bush.

Hillary says economic crisis breaks her heart

Hillary Rodham Clinton said Monday that seeing the U.S. in an economic crisis eight years after Democrats left the nation in sound fiscal shape is heartbreaking.

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