Goldman Sachs and Morgan Stanley, Wall Street?s last independent investment banks, will transform themselves into bank holding companies subject to greater regulation.
John McCain and Barack Obama called for more oversight in the bailout but said the expenditure would not force them to scale back their ambitious agendas.
AP - The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks — Goldman Sachs and Morgan Stanley — to change their status to bank holding companies.
AP - The Bush administration and the Federal Reserve are moving on multiple fronts in an effort to calm financial markets that have been roiled by the biggest upheavals on Wall Street since the Great Depression.
AP - Pakistani newspapers urged the fledgling civilian government and the military Monday to craft a coherent policy against terrorism after a massive truck bomb killed 53 people at a luxury hotel in the capital.
"30 Rock," created by Tina Fey, cleaned up Sunday night at the 60th annual Primetime Emmy Awards. In addition to best comedy series, the show earned two Emmys for Fey (for acting and writing), and one for lead actor Alec Baldwin. Also snagging top honors was "Mad Men," named best drama series, and HBO's miniseries "John Adams," which set a new record with 13 trophies.
As the number of Chinese infants reported sickened by tainted milk increased to 53,000, Chinese Premier Wen Jiabao called manufacturers "heartless" and promised stricter laws to protect the public.