Doctors in Berlin announced that they had cured a man of AIDS by giving him transplanted blood stem cells from a donor naturally resistant to the virus; other researchers cautioned that the treatment was of little immediate use, and justified in this case only because the patient had leukemia. “Frankly,” said Dr. Robert C. Gallo of the University of Maryland School of Medicine, “I’d rather take the medicine.”NYTA German shoplifter with no arms stole a 24-inch television. “It’s hard to believe,” said a police officer, “that the sight of an armless man walking along with a giant TV clamped to …

Barack Obama was elected the 44th president, and first African-American president, of the United States, receiving 365 electoral votes in an election that saw perhaps the highest turnout among registered voters in a century. “If there’s anyone out there who still doubts that America is a place where all things are possible,” Obama told supporters, “tonight is your answer.” “The American people have spoken, and they have spoken clearly,” said John McCain in a teary-eyed concession speech. “What an awesome night for you,” President Bush said to Obama. “His choice, basically, is whether he is going to be Uncle Sam… …

Democrats were outvoting Republicans in all nine states that track the party affiliations of early voters, indicating a likely election victory for Barack Obama. George Mason University“It’s gonna get nasty,” Obama told a crowd in Missouri.CNNRepublicans claimed that Democrats were coercing dementia patients to cast absentee ballots,Des Moines Registerand fliers posted in black neighborhoods of Philadelphia falsely warned that voters with unpaid parking tickets would be arrested at the polls.APIt was reported that Obama‘s half-aunt Zeitun Onyango lives in a Boston housing project and is an illegal immigrant–a detail likely leaked by the Bush Administration against the procedures of the …

An American cattleman. On the 79th anniversary of the stock market crash of 1929, the Dow fell 312.3 points, closing below 8400. Chrysler announced that it would cut 25 percent of its salaried jobs, OPEC said that it was cutting oil production by 1.5 million barrels a day, and former Federal Reserve chairman Alan Greenspan declared that financial markets were engulfed in a “once-in-a-century credit tsunami” and admitted that he had “found a flaw” in his free-market ideology. “I don’t know how significant or permanent it is,” he said of his mistake. “But I’ve been very distressed by that fact.”The …

Caught in the Web, 1860. Governments around the world attempted to slow the global financial catastrophe. Der SpiegelNYTThe stock market in Iceland reopened after a three-day suspension and immediately plunged 77 percent.NYTBloombergReutersThe Economist via Seattle PIFTGuardianBloombergSwitzerland bought $60 billion in bad debt from the largest Swiss bank, while the second-largest Swiss bank sought aid from the government of Qatar.WPPresident George W. Bush announced a world financial summit, described by some as “Bretton Woods II,” to be held at Camp David after the November 4 elections,TelegraphWSJBBCWPNYTWPBloombergCSMand the United States partially nationalized nine of its major banks. “Bush is to the left …

The world economy continued its collapse. The Dow Jones Industrial Average declined 22 percent over eight days, Wall Street lost $2.4 trillion in market value, and Iceland went bankrupt.CNNBusiness WeekThe head of the International Monetary Fund warned that the world was on the “brink of systemic meltdown,”BBCand Democrats in Congress called for a $150 billion economic stimulus plan to rebuild America’s crumbling infrastructure.Yahoo! NewsBarack Obama called for firms that create jobs to be rewarded with tax credits and for a moratorium on foreclosures;AFPJohn McCain refused to answer questions about his economic plan, but was reportedly considering a cut in the …

An American cattleman. The U.S. Senate and House of Representatives passed the Emergency Economic Stabilization Act of 2008. The legislation, which originated as a three-page proposal by Treasury Secretary Henry Paulson and grew to 451 pages after House and Senate negotiations, established the Troubled Asset Relief Program (TARP) to grant the Secretary of the Treasury up to $700 billion to buy troubled assets owned by financial institutions, to allow the Treasury to limit executive compensation and “golden parachutes” at those institutions, and to establish an oversight board to monitor the Treasury. The act also provides wooden arrow manufacturers an exemption …

A Christian martyr. The Dow Jones Industrial Average fell 777 points in one day after the House of Representatives failed to pass a Wall Street bailout plan, first put forth by President George W. Bush, that would have granted Treasury Secretary Henry Paulson up to $700 billion to buy, at any price, toxic mortgage-backed assets from financial firms. “It’s not based on any particular data point,” said a Treasury spokeswoman of the $700 billion figure. “We just wanted to choose a really large number.”Wall Street JournalWashington PostForbes.comSenator John McCain announced that fixing the economy was more important than politicking, suspended …

Caught in the Web, 1860. After many years of increasing borrowing and at least thirteen months of evidence of an impending catastrophe, American financial institutions faced the worst credit crisis since the Great Depression. “The world,” explained Iranian President Mahmoud Ahmadinejad, “no longer has the capacity to absorb fake U.S. dollars.”EconomistThe Wall Street JournalBloombergGlobal stock markets lost $3.1 trillion in four days, and American International Group (AIG), the world’s biggest insurance company and a leader in the $62 trillion credit-default swap market, was nearly bankrupted. “The private market has screwed itself up,” said Representative Barney Frank (D., Mass.), “and they …

Stocks on Wall Street and other exchanges throughout the world dropped as brokerage Merrill Lynch was bought by Bank of America, insurance giant AIG sought tens of billions of dollars in government loans, and investment bank Lehman Brothers declared bankruptcy.The New York TimesJohn McCain and Barack Obama suspended political advertising and appeared together at the World Trade Center site to commemorate the seventh anniversary of the September 11 attacks,The New York Timesand former Massachusetts governor Jane Swift, chair of the Palin Truth Squad, demanded that Obama apologize for saying that McCain’s promise to change Washington amounted to putting “lipstick on …

The Treasury Department seized control of mortgage and loan giants Fannie Mae and Freddie Mac, firing the companies’ chief executives and promising to provide as much as $200 billion to prevent insolvency.New York TimesThe jobless rate rose from 5.7 percent to a five-year high of 6.1 percent, with more than 84,000 jobs lost in August,Yahoo and Senator John McCain accepted the Republican Party’s nomination for the presidency.KTLA.com“This campaign is not about issues,” said McCain’s campaign manager, Rick Davis. “This election is about a composite view of what people take away from these candidates.”Washington PostIt emerged that McCain did not properly …

One million people fled New Orleans to avoid Hurricane Gustav, which landed in Louisiana as a weakened category-2 hurricane and caused relatively little damage. Mississippi officials ordered people still living in the FEMA trailers erected after Hurricane Katrina to evacuate, and John McCain canceled opening-day ceremonies for the Republican National Convention at the Xcel Energy Center in Saint Paul, Minnesota. “This is a time when we have to do away with our party politics and we have to act as Americans,” said McCain. “Not as Republicans.”GuardianIOL.co.zaNew York TimesUSA TodayYahoo!McCain picked Alaska Governor Sarah Palin, 44, as his running mate. Palin, …

Barack Obama announced Joe Biden, the senior senator from Delaware, as his running mate, even though Biden voted for the war in Iraq and for NAFTA and once said that Obama was “the first mainstream African-American who is articulate and bright and clean and a nice-looking guy.”Information WeekThe Washington PostThe Obama campaign denied that there was anything wrong with Biden’s signing a 2005 bill that eliminated many bankruptcy protections for consumers after Biden’s lobbyist son Hunter was retained for $100,000 a year by the financial-services giant MBNA, employees of which have donated $214,000 to Biden over the years.The New York …

Claiming that South Ossetian separatists had attacked its villages, U.S. ally Georgia sent troops to capture the city of Tskhinvali. Russia retaliated by sending ground troops into Tskhinvali, then into Georgia proper; Georgia claimed that hundreds of troops had been killed on both sides along with “huge numbers” of civilians. Georgian President Mikheil Saakashvili described Russia’s troop actions as “the preplanned, cold-blooded, premeditated murder of a small country.”NYTimes.comItar-TassBloomberg.comThe Olympics began in Beijing, heralded on television by fake, computer-generated fireworks.All Headline NewsPresident George W. Bush told Bob Costas that China “is a big, important nation…it is important for this country to …

Radovan Karadzic was arrested in Belgrade and awaits imminent extradition to The Hague, where he will face charges of genocide for his role in the Srebrenica massacres and the siege of Sarajevo. The former Bosnian Serb president, a psychiatrist and poet who in 1991 pledged to drive Bosnian Muslims down “the highway of hell and suffering,” had been living in the Serbian capital as a New Age guru, promoting alternative medicine and “Human Quantum Energy” under the name “Dragan David Dabic.” Serbia hoped the arrest would hasten its campaign to join the European Union, and it was reported that Ratko …

The Supreme Court overturned the 32-year ban on handguns in Washington, D.C., ruling 5-4 that there is a Second Amendment right to own a gun for personal use. Justice John Paul Stevens wrote in his dissent that the court’s ruling, its first on the Second Amendment in 70 years, showed a lack of “respect for the well-settled views of all of our predecessors on the court, and for the rule of law itself.” The National Rifle Association promptly brought lawsuits against five other cities with handgun bans, including San Francisco, Chicago, and Oak Park, Illinois. “It’s just completely befuddling,” said …

Caught in the Web, 1860. Oil reached a record $139.89 a barrel. Four Western companies met with Iraq’s Oil Ministry to finalize no-bid contracts to tap Iraqi oil fields, and the Nigerian government distributed billions of dollars of windfall to corrupt state officials. Thirty-five countries and 25 oil companies met in Jeddah, Saudi Arabia, to try to fix global oil prices, which have caused strikes, riots, and inflation around the world. Many OPEC countries blamed speculators for the price increase, as did some representatives of oil companies and oil-dependent industries. United States Energy Secretary Sam Bodman blamed supply and demand, …

The Supreme Court ruled 5�??4 that detainees held as “enemy combatants” by the United States in Guantanamo Bay,Cuba, have a constitutional right to challenge their detention through habeas corpus petitions in federal courts. “Liberty and security can be reconciled…within the framework of the law,” wrote Justice Anthony M. Kennedy in the court’s decision. “The Framers decided that habeas corpus…must be…a part of that law.” Dissenting, Chief Justice John Roberts asked, “So who has won? Not the detainees. The Court’s analysis leaves them with only the prospect of further litigation.” Defense lawyers for the detainees moved to establish that their clients …

Senator Barack Obama, having amassed more than the 2,118 delegates needed to secure a majority, was acknowledged as the Democratic presidential nominee and claimed victory before a crowd of almost 20,000 people in St. Paul, Minnesota, knocking knuckles with his wife, Michelle, in a gesture known as “dap.” “It thrilled a lot of black folks,” said author Ta-Nehisi Coates. “He wears his cultural blackness all over the place. Barack is like Black Folks 2.0.”New York TimesWashington PostEarlier that evening, Senator John McCain delivered a speech to a crowd of a few hundred in Kenner, Louisiana, in which he tried to …

Caught in the Web, 1860. The military junta in Myanmar put the official death toll from last week’s Cyclone Nargis (Urdu for “daffodil”) at 28,458, while foreign observers, taking into account that heavy rains were expected to continue, with malaria, tuberculosis, cholera, typhoid, and dysentery to follow, expected that as many as 100,000 people would die. Before distributing foreign-aid packages, the junta re-labeled them with the names of its generals; a referendum on a new constitution that will perpetuate the junta’s rule was not delayed. “Let’s go cast a vote,” sang two female pop vocalists on state-run television. “With sincere …