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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US wrangling and mutual collapse sparks new market fall (AFP)

AFP – Deadlocked talks on a bailout of the US financial system and the collapse of Washington Mutual bank sparked new falls on global markets Friday despite the injection of tens of billions of dollars by central banks.
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Lawmakers to tackle bailout plan again Friday (Reuters)

Reuters – Congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure.

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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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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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McCain: Obama tried to legislate Iraqi failure

AP – John McCain told fellow veterans on Monday that his Democratic rival Barack Obama tried to legislate failure in Iraq and has refused to admit he erred when opposing the military increase there last year.
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