The latest news on the Wall Street Crisis, Iraq, Iran, Presidential Campaign, Hurricane Ike, Hurricane Ike-Cuba, Crime, Homelessness, Zimbabwe, Burma/Myanmar, Bolivia, and Father D'Escoto at U.N.

Sign up to receive our daily news summary via e-mail »

Wall Street crisis. Wall Street Posts Worst Loss Since 2001 "In another unnerving day for Wall Street, investors suffered their worst losses since the terrorist attacks of 2001, and government officials raced to prevent the financial crisis from spreading." Stocks Plunge as Crisis Intensifies "The Federal Reserve and Treasury Department struggled to contain the fallout from an upheaval among the country's largest investment banks as they moved on to their next challenge -- engineering a $75 billion private rescue of the nation's largest insurance company." Financial crisis could make consumer credit even tighter "But in letting the company fend for itself, the Fed is sending a message that the next faltering financial institution cannot expect a taxpayer bailout. That alone adds greater risk to credit markets, which could make home, retail and business loans more expensive and harder to secure." Wall Street crisis is culmination of 28 years of deregulation "No one cog in the federal government's machine of financial regulation let down the country by failing to prevent the latest shakeout on Wall Street. The entire system did."

Presidential campaign. In Candidates, 2 Approaches to Wall Street "The crisis on Wall Street will leave the next president facing tough choices about how best to regulate the financial system, and although neither Senator Barack Obama nor Senator John McCain has yet offered a detailed plan, their records and the principles they have set out so far suggest they could come at the issue in very different ways." Economy Becomes New Proving Ground For McCain, Obama "Yesterday's meltdown on Wall Street brought the economy roaring back to the center of the presidential campaign, and the question for the final seven weeks of the general-election campaign is whether Barack Obama or John McCain can convince voters that he is capable of leading the country out of the morass." Obama, McCain debate economic crisis "With both candidates pressing for regulatory reform, concerns about Wall Street problems spilling onto Main Street took center stage as McCain, Obama and their running mates jockeyed for advantage amid the growing economic stress."

Hurricane Ike. Texans warned to stay away from areas hit by Hurricane Ike "Officials were in the early stages of assessing the effects of the storm, which battered Galveston over the weekend with 110-mph winds and a 15-foot storm surge before roaring north to Houston." Texans persevere through Ike's fury, but may wait weeks for hot meals, showers, electricity "Tens of thousands of residents first hunkered down to wait for Hurricane Ike's brutal punch. Those survivors on the wrecked Texas coast must now wait again -- for food, water and ice, for the electricity to return to their homes, for that first hot meal and shower." Searchers fear more grim discoveries in Galveston "Through dark and filthy water, the tangible last remnant of Hurricane Ike, search-and-rescue teams continued combing Galveston Island and other coastal communities hit hardest by an overwhelming storm surge. The hope was for more survivors - a hope rewarded more than once Monday. The fear was that grimmer discoveries awaited." Got power? "The National Weather Service says it can find no stronger winds in its weather history files than Sunday's 75 mph remnants of Hurricane Ike that caused so much turmoil and damage. ... Gov. Ted Strickland declared a state of emergency for Ohio as it became clear that it will take up to a week in many places for power to blink back on."

Hurricane Ike-Cuba. U.S. Urges Cuba to Accept Aid "The Bush administration has asked the Cuban government to reconsider its rejection of emergency hurricane aid from the United States, including an unprecedented offer to send assistance directly to the government in Havana aboard civilian aircraft."

Crime down. Violent Crime Fell in 2007 From Previous Year "Violent crime in the United States fell slightly last year, reversing the upward swing of the previous two years, according to statistics released by the FBI yesterday. The bureau's Crime in the United States report showed a decline in crimes in almost every category."

Homelessness. Capitol Strives to Define 'Homeless' "With unemployment and foreclosures rising and growing numbers of families struggling to find affordable housing, lawmakers in Congress are debating who should be considered homeless."

Iran. U.N. report says Iran has blocked nuclear investigators "Iranian stonewalling has stalled a U.N. investigation into whether Iran conducted nuclear weapons research, according to a new U.N. nuclear watchdog report that for the first time raised the possibility that foreign experts may have assisted in Iranian nuclear experiments." Nuclear Agency Says Iran Has Improved Enrichment "Iran has substantially improved the efficiency of its centrifuges that produce enriched uranium, the International Atomic Energy Agency said Monday, indicating that the nation has overcome some of the technical challenges that had plagued its enrichment program." U.N. watchdog reports growing frustration with Iran's nuclear push "Iran failed to resolve lingering questions about alleged nuclear weapons research and modestly expanded its ability to produce sensitive radioactive material that could potentially be used for a bomb." France pushes for more Iran sanctions "'We have no other choice than to work in the days and weeks to come toward a new (U.N.) Security Council sanctions resolution,' French Foreign Ministry spokesman Eric Chevallier said."

Iraq. Gen. David Petraeus leaves a safer, but still fragile Iraq after 20 months leading US troops "David Petraeus, the American general who presided over Iraq's pullback from the brink of all-out civil war, relinquished his command Tuesday to Gen. Ray Odierno under a cascade of official thank-yous." Odierno replaces Petraeus in Iraq "General Ray Odierno, a U.S. military commander known for his aggressive tactics, has taken command of U.S.-led forces in Iraq, replacing General David Petraeus." Odierno warning on Iraq security "The new U.S. military commander in Iraq, Lt. Gen. Ray Odierno, has said that recent security gains there are 'fragile and reversible.'" U.S. officials warn against leaving Iraq forces on their own too soon "As Iraq's government presses Washington for a deadline to withdraw American troops, top U.S. military officials cautioned against pushing Iraqi forces to take control too quickly -- a warning underscored by bombs that killed at least 35 people."

Zimbabwe. Power shifts as Zimbabwe deal signed "The signing of a painful compromise Monday by bitter enemies marked a clear power shift in Zimbabwe." Zimbabwe's Mugabe relaxes grip on power but will power-sharing deal work? "President Robert Mugabe ceded some power in Zimbabwe for the first time in 28 years, signing a power-sharing deal Monday with opposition leader Morgan Tsvangirai amid questions on how the fierce enemies will work together to fix the collapsing economy." Zimbabwe power-struggle begins in earnest "Zimbabwe's new political partners were due to sit down today to the thorny task of allocating Cabinet posts in the country's new unity government after a day of raucous celebration by opposition activists." U.S. and EU keep Zimbabwe sanctions "EU foreign ministers said the measures would continue until the new government took steps to restore democracy."

Burma/Myanmar. Myanmar's Junta Eases Restrictions on Opposition Leader Under House Arrest "Myanmar's military junta will allow the pro-democracy leader Daw Aung San Suu Kyi to receive letters from her two sons as well as some foreign magazines, slightly easing her stringent house arrest."

Bolivia. South American leaders hold emergency session on Bolivia "Leaders of nine South American nations called Monday for Bolivians to 'take all actions necessary' to help calm the domestic turmoil threatening to split this fractured Andean country apart."

Father D'Escoto at U.N. Nicaraguan priest taking a top U.N. post "Father Miguel d'Escoto stopped saying Mass 23 years ago when the Vatican suspended his priestly functions for refusing to quit Nicaragua's revolutionary government. But he never stopped preaching. ... Today he is being promoted to a far bigger pulpit: the presidency of the United Nations General Assembly."