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…
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…
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…
After more than a week of fighting and one failed cease-fire, Russia and Georgia signed a revised cease-fire agreement, but Russian troops remained within 25 miles of the Georgian capital,…
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…
Barack Obama began his week-long foreign tour in Afghanistan, where he met with President Hamid Karzai, and continued on to Iraq. There, he flew in a helicopter to the Green…
The U.S. Office of Thrift Supervision seized the IndyMac Bank of California, worth an estimated 32 billion dollars, after the bank’s closure in the wake of mortgage industry collapse,AFPand the…
Colombian military commandos infiltrated a settlement operated by the guerilla group FARC and freed 15 hostages, among them three U.S. contractors and the Colombian-French politician Ingrid Betancourt. President George W.…
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…
After John McCain swept Republican contests in Ohio, Rhode Island,Texas, and Vermont and secured by some counts the delegates required for his party’s nomination, his rivals Mike Huckabee and Ron…