Daily News Channel
Treasury Secretary Timothy Geithner has unveiled a new plan to combat the financial crisis: convincing private financial institutions to buy up “toxic assets” with the government’s backing. While this is a step up from former Secretary Henry Paulson’s original bailout plan—in which the government itself would buy up the bad securities—it is still not the right approach. Instead, there is a better, cheaper, less risky, more direct way to improve banks’ balance sheets and restore confidence
Friends, relatives and acquaintances were shocked to hear news reports that Beverly Eckert, the widow of a September 11 victim, was aboard the Continental flight to Buffalo, New York, that crashed Thursday night. “I am horribly saddened by this news,” said Valerie Lucznikowska, a member of September 11th Families for Peaceful Tomorrows. Lucznikowska said she, Eckert and another woman traveled to Washington last Friday for a meeting between 9/11 family members and President Barack Obama
Playing Rebecca Bloomwood, the blissfully clothes-crazy heroine of "Confessions of a Shopaholic," Isla Fisher walks around with the mad gleam of a true believer. She’s utterly rational as well (you can’t talk her out of buying things — she’s too busy trying to talk herself into them), and it’s that flaky combination that makes her an addict for our times
A Russian heavy missile cruiser stopped three pirate ships off the coast of Somalia, and detained 10 pirates, according to a statement released Friday by Russian Navy headquarters in Moscow. The cruiser, Peter the Great, halted two small high-speed motor boats and a mid-size, support vessel on Thursday, the Russians said. “Ten pirates have been detained
A Continental commuter plane coming in for a landing nose-dived into a house in suburban Buffalo, sparking a fiery explosion that killed all 49 people aboard and a person in the home. It was the nation’s first fatal crash of a commercial airliner in 2 1/2 years. Witnesses heard the twin turboprop aircraft sputtering before it went down in light snow and fog around 10:20 p.m
A female suicide bomber detonated in a crowd of primarily women and children on their way to a religious festival Friday, killing at least 35 people and wounding 45 others, an Interior Ministry official said. Two children were also killed in a separate incident when an old and unexploded mortar round exploded Friday morning just south of Baghdad
Senator Judd Gregg ended his courtship with President Obama by resorting to one of the oldest lines in the book. “It’s not about them,” the New Hampshire fiscal conservative announced Thursday, describing the White House team
A Continental Airlines plane crashed into a home near Buffalo, New York, late Thursday, killing all 49 passengers and crew members and a person in the home, authorities said. Four people were injured at the crash site, including a mother and daughter inside the house that was hit.
Chelsea posted losses of £65.7 million ($93.91m) as they were left to count the cost of managerial departures. The results for the financial year ending on June 30, 2008 revealed that £23.1 million ($33.02m) had been paid in compensation to former Blues managers Jose Mourinho and Avram Grant and five coaching staff. They do not include the payout that Luiz Felipe Scolari is set to receive, reported to be in the region £8 million ($11.44m), following his sacking this week.
Somali pirates have released a Panamanian-flagged, Japanese-owned vessel that was hijacked in the Gulf of Aden in November, according to a non-governmental group that monitors piracy. The ship, named the MT Chemstar Venus, was released late Thursday, according to Ecoterra International