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Fed to buy massive amounts of short-term debt

AP - 10 minutes ago

WASHINGTON - The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy.

Former CEO of AIG Martin Sullivan, center, is set to testify later today before the House Oversight and Government Reform Committee on Capitol Hill in Washington, Tuesday, Oct. 7, 2008. (AP Photo/Lawrence Jackson)

Insurance giant AIG's role in market crisis probed

AP - 32 minutes ago

WASHINGTON - Executives at American International Group Inc. hid the full range of its risky financial products from auditors as losses mounted, according to documents released Tuesday by a congressional panel examining the chain of events that forced the government to bail out the conglomerate.

US Democratic presidential candidate Barack Obama in Asheville, North Carolina. Republican John McCain Monday accused Obama of obfuscating his past and offering no track record to point a way out of America's deepening economic crisis.(AFP/Stan Honda)

Poll: Obama gains in states that Bush won

Time.com - 48 minutes ago

On the eve of the penultimate presidential debate, a new TIME/CNN poll shows John McCain still struggling in states won by George W. Bush in 2004, a sign that last week's vice-presidential debate had little effect on voter opinion.

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