- Global Markets Rally:
Banking stocks in Asia and Europe jumped this morning after European leaders announced plans to inject capital into banks and guarantee interbank lending. Rising between 5 and 10 percent, the rallying world markets are hoped to have a positive impact on the US market which opened moments ago, up, but with the Dow still in the 8,000s.
- Krugman Wins Nobel for Economics:
US Economist and New York Times columnist Paul Krugman has won this year's Nobel Prize for Economics. He won for his analysis of trade patterns and new theories that answer questions on free trade and globalization. Krugman says he hopes the $1.4 million prize won't change his life: "I hope it does not lead me into going to a lot of purely celebratory events."
- Afghanistan Commander is Hopeful:
The top American commander in Afghanistan said yesterday he wants doubters to believe that the war against the Taliban can be won. Gen. McKiernan leads over 65,000 troops and said at a conference in Kabul that there have been "too many" reports about losing the war in Afghanistan. He says, “I absolutely reject that idea, I don’t believe it. It is true that there are many places in this country that don’t have an adequate level of security. We don’t have progress as even and as fast as any of us would like. But we are not losing in Afghanistan.”