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 …

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 …

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 …

Hillary Clinton gained nine more delegates than Barack Obama in the Pennsylvania primary and challenged him to debate without a moderator. Obama, who declined, reportedly seemed “tired” and “brittle” campaigning in Indiana. “Seniors, listen up,” he said. “I’m getting gray hair myself. Running for president will age you quick.” New York TimesAPTelegraphJohn McCain’s campaign received a $1,000 discount on the rental fee for a public space for a fundraiser in Homewood, Alabama, along with $100 worth of free labor from the inmates of a local jail.Birmingham NewsAll three candidates taped messages for World Wrestling Entertainment’s “W.W.E. Raw”: Clinton declared herself …

Caught in the Web, 1860. A White House report showed that only eight of eighteen benchmarks for progress were being met in Iraq, but President Bush asked Congress to wait for another report in September before passing judgment.NYTNYTRyan C. Crocker, U.S. ambassador to Iraq, pleaded against withdrawal. “In the States,” said Crocker, “it’s like we’re in the last half of the third reel of a three-reel movie, and all we have to do is decide we�??re done here, and the credits come up, and the lights come on, and we leave the theater and go on to something else. Whereas …

An American cattleman. President Mahmoud Abbas dissolved the Palestinian unity government and declared a state of emergency after masked Hamas gunmen seized control of the Gaza Strip. Hamas looters broke into former Palestinian Authority chairman Yasser Arafat’s home and stole military outfits, photographs of his daughter, and his Nobel Peace Prize. “I see Iraq here,” a bystander in Gaza said. “There is no mercy. We are afraid. See how ferocious this fight was? There is no future for us.”New York TimesThe Jerusalem PostNew York TimesIsrael and the United States tacitly agreed on a policy to treat the West Bank and …

Caught in the Web, 1860. British prime minister Tony Blair announced that he will resign next month after ten years in power. Much speculation ensued about what the 54-year-old Blair would do next, and it was thought that he might establish a foundation to fight poverty in Africa. “[Blair] was the worst thing that ever happened to Africa,” said Bright Matonga, the deputy information minister of Zimbabwe. “We hope that the children of Iraq and Afghanistan he is killing everyday will haunt him for the rest of his life.”Daily MailThe AustralianGuardian A majority in Iraq’s parliament backed a bill drafted …

Iraqi Prime Minister Nuri Kamal al-Maliki called initial stages of the new security crackdown in Baghdad a “dazzling success.” Later, six explosions in three markets killed 127 people, and suspected insurgents shot six people in the head in a public garden.NYTNYTNYTAmerican forces, targeting Taliban fighters, launched artillery rounds into Pakistan.BreitbartPresident George W. Bush expressed “certainty” that the Iranian government has been supplying Iraqi insurgents with weapons and extended the deployment of 3,200 soldiers so close to the end of their tour that their uniforms and supplies had already been packed for shipment.CBS4DenverNYTBush suggested that he was not particularly interested in …

“Into the palace parlor they stepped; her hand in his paw the old bruin kept,” 1875 The U.S. director of national intelligence released a declassified version of a new National Intelligence Estimate on Iraq; the report found that “the term ‘civil war’ accurately describes key elements of the Iraqi conflict” and that “widespread fighting could produce de facto partition.”Office of the Director of National IntelligenceIraqi refugees were flooding Syria and Jordan, where they now account for 5 and 12 percent of those countries’ total populations,AP via Yahoo!NEWSand a massive bombing in a Shiite neighborhood in Baghdad killed 130 people, making …

In Baghdad, at a gathering place for poor Shiite laborers, the owner of a truck filled with wheat announced that he was looking for workers. A crowd gathered around the truck and it exploded, killing 70 people and wounding 236.NYTIt was revealed that billions of dollars in Iraqi oil revenues had not been spent, and the head of Iraq’s Commission on Public Integrity was accused of graft.NYTOutgoing Representative Cynthia McKinney (D., Ga.) introduced a bill to impeach President George W. Bush for misleading Congress on the war in Iraq and implementing an illegal domestic spying program.Newsvine.comPresident Bush said that any …

President George W. Bush officially replaced the phrase “stay the course” in Iraq with “We will stay in Iraq,” and Iraqi Prime Minister Nouri al-Maliki insisted he never agreed to a U.S. timetable for reducing sectarian violence. “I’m not America’s man,” he said.Chicago TribuneNew York TimesNews.com.auDefense Secretary Donald Rumsfeld told critics of the war to “back off.”Yahoo NewsIn Basra, Prince Philip of Britain assured the troops “at the sharp end” that “a great many locals do very much appreciate what you are trying to do for them,”New Zealand Heraldand Senator Rick Santorum said, “As the hobbits are going up Mount …

Killing Ground. Iranian president Mahmoud Ahmadinejad, speaking at the United Nations in New York, proclaimed his love for all the world’s peoples, and suggested that the United States halt domestic fuel production and buy its energy from him “at a fifty percent discount.”BBC NewsVenezuelan president Hugo Chavez objected to the smell of sulfur in the U.N.’s General Assembly hall, and offered to relocate the U.N.’s headquarters to Caracas. New York timesFox NewsTed Turner called the Iraq war one of the “dumbest moves of all time,”CNNand a spokesman for the Iraq Study Group, a think tank created to analyze events in …

President George W. Bush confirmed the existence of secret extra-territorial prisons operating beyond the scope of American law.ABC NewsThe U.S. Army promised to stop intimidating prisoners by placing hoods over their heads, or by simulating their drowning, or by threatening them with dogs,New York Timesand President Bush emphasized the fine line between “alternative” interrogation methods and torture.CNNThe Iraqi government took control of its own army,Times of Londonand the United States increased the number of troops in Iraq by 15,000.Houston ChronicleAn official at the Baghdad morgue said that last month’s death toll was actually triple the number first reported.Christian Science MonitorSecretary …

In Iraq car bombs killed 24 people,BBC Newsand a British helicopter was shot down over Basra, killing all five crew members.The GuardianIn Anbar, at a ceremony for new Iraqi soldiers, the graduates were told that they would be sent outside of their home province to serve, leading several soldiers to tear off their clothes in protest.The Washington PostIraqipoliceshot a 14-year-old boy named Ahmed Khalil in the head for being a gayprostitute.Gay.comIn Afghanistan the power of the Taliban was growing.The New York TimesAnalysts found that President George W. Bush had claimed exemption from 750 laws,The Boston Globeand Bush said that the …