Pelosi says bailout plan has to pass (Reuters)

Reuters – House Speaker Nancy Pelosi said on Friday a plan to rescue U.S. financial institutions “has to happen,” but final agreement is up to conservative Republicans who revolted against the plan being negotiated between Congress and the Treasury Department.

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A bad day for the GOP on politics, bailout plan (AP)

AP – Even for a party whose president suffers dismal approval ratings, whose legislative wing lost control of Congress and whose presidential nominee trails in the polls, it was a remarkably bad day for Republicans. Read more…

Prospects for nuclear deal uncertain in Congress (AP)

AP – A landmark agreement on civilian nuclear cooperation between India and the U.S. has been a high priority for President Bush and the Indian government, but time is running out as lawmakers wrap up this year’s session to campaign for the November elections.

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Stage is set but will U.S. debate go on? (Reuters)

Reuters – The stage is set, but it was unclear on Friday if Republican John McCain would show up to duel Democrat Barack Obama in the first of three debates that could help decide a tight White House race.

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China and Japan hail U.S. mortgage rescue as doubts linger

Reuters – China and Japan, the biggest buyers of Freddie Mac and Fannie Mae bonds, praised Washington for its rescue of the ailing mortgage giants, but investors had no illusions the bailout would end the global credit market misery.
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Convention off to rocky start amid hurricane

AP – Republicans set aside the agenda to focus on hurricane relief in the opening hours of their national convention, only to see the scaled-back program for Day One overshadowed by jarring disclosures about the family and work life of John McCain’s running mate, Sarah Palin. Read more…

Gustav shields McCain from Democrat barbs

Reuters – Not only is Gustav slowing Republican presidential hopeful John McCain’s big convention party, it also is sparing him from Democratic criticism that his election would amount to a third Bush term.

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John McCain’s vetter defends Sarah Palin review

AP – Sarah Palin voluntarily told John McCain’s campaign about her pregnant teenage daughter and her husband’s 2-decade-old DUI arrest during questioning as part of the Republican’s vice presidential search.
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Obama introduces running mate Biden

AP – Barack Obama introduced Sen. Joe Biden of Delaware Saturday as a man “ready to step in and be president,” and the newly minted running mate quickly turned his campaign debut into a slashing attack on eight years of Republicans seeking four more years in the White House.
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Obama may announce running mate later today

AP – Presidential candidate Barack Obama said Friday the running mate he has chosen — but has not yet announced — had to meet three standards to join the Democratic ticket: Prepared to be president, able to help him govern and willing to challenge his thinking.
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