The Treasury Department is dramatically expanding the scope of its bailout of the financial system with a plan to take ownership stakes in the nation's insurance companies, government and industry sources said.
With much of the past decade's stock-market gains wiped out in a matter of weeks, American investors are steeling themselves for more of the same and worse.
Barack Obama and John McCain clashed sharply over tax cuts and congressional spending Friday night as they faced off in their first head-to-head debate.
President Bush's decision to shore up the financial markets with massive government intervention is the latest sign of a broad ideological transformation of his presidency.
Text of Treasury Secretary Henry Paulson's news conferences Friday, as transcribed by CQ Transcriptions:
Text of President Bush's statement Friday on the economy, as transcribed by CQ Transcriptions:
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