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USA UK and Malta News
07/10/2008 - 20:02

USA Today Editoweb 7 october 2008

Fed to buy massive amounts of short-term debt - Trailing Obama, McCain hopes to gain in debate - McCain revisiting Keating 5 banking scandal again.



Fed to buy massive amounts of short-term debt

The Federal Reserve moved swiftly to break through a credit clog that is imperiling the economy, saying Tuesday it would buy massive amounts of short-term debt and hinting that it may cut interest rates.

Trailing Obama, McCain hopes to gain in debate

Leading in the polls, Barack Obama hopes to cement his standing while John McCain is trying to turn his fortunes around in their second presidential debate — with economic turmoil bordering on chaos suddenly serving as the backdrop.

McCain revisiting Keating 5 banking scandal again

Nearly two decades later, John McCain is still haunted by his role in the Keating Five scandal.

Bush talks with European leaders on crisis

President Bush reached out to European leaders on Tuesday to urge coordination on efforts to solve the financial crisis spreading around the globe. The White House said Bush was open to the idea of a leaders' summit on the economic upheaval.

President makes quick, long-awaited return home

President Bush almost made it through his two terms without visiting his boyhood hometown. He broke the more than 7-year, 8-month streak on Saturday for a quick and lucrative fundraising stop in this West Texas oil patch.

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