Stocks staged a broad recovery on Tuesday after Monday?s big sell-off. But the health of the economy and the global financial system was by no means assured.
Mayor Michael R. Bloomberg plans to announce Thursday morning that he will seek to modify New York City?s two-term limit, according to three people who have been told of his plans.
AP - Alarmed by setbacks, supporters of the imperiled multibillion-dollar economic rescue fought to bring it back to life Tuesday, courting reluctant lawmakers with sweeteners including a plan to reassure Americans their bank deposits are safe.
AP - Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.
AP - White House rivals John McCain and Barack Obama combined televised attack ads with statesmanlike appeals for bipartisanship on Tuesday as they vied for political gain in the shadow of the worst economic crisis since the Great Depression.
Fifty-two people have died in emergency medical flight accidents since the NTSB made safety recommendations in 2006 that have not been implemented. "I don't know what their problem is," said the father of one crash victim. Many of the fatalities involved poor-visibility flights, and the wars in Iraq and Afghanistan are limiting civilian access to night-vision goggles.
Stocks rallied today as investors scooped up shares battered in the bloodletting that followed Congress' failure to pass a $700 billion bank rescue plan. The Dow Jones industrial average added 485 points, according to early tallies, recovering some of the record 777 points lost the day before, CNNMoney.com reports.
The federal agency that guarantees bank deposits is asking Congress for temporary authority to raise the limit on the amount of money it insures for individual bank accounts.