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President Bush hails Pakistan as strong ally ... States House of Representatives Speaker Nancy Pelosi says lawmakers were making progress on a Wall Street bailout bill, but did not predict when it would come to a vote.
The plan is to use $700 billion of taxpayers' money to buy up banks' bad debts. Pelosi said lawmakers were stunned over the weekend when the proposed package was tabled. US lawmakers have reportedly agreed to include protections for homeowners in the rescue package. Democrats and Republicans are split over other measures, including whether the government should gain equity in companies seeking a bailout. The OECD grouping of 30 leading economies has welcomed the plan.
(Deutsche Welle)
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