- Congress May Add Stimulus:
Congress is likely to raise the cost of the $700 billion rescue deal by adding more economic stimulus for taxpayers, according to Chairman of the House Financial Services Committee Barney Frank. The cost of the current plan could reach $1 trillion. Senate Banking Chairman Chris Dodd urged caution this morning and praised Treasury Secretary Henry Paulson as "the right man."
- South Africa's Mbeki Resigns:
South Africa's President Thabo Mbeki resigned yesterday after his political party demanded that he step down. He gave a brief speech saying, “I would like to say that gloom and despondency have never defeated adversity. Trying times need courage and resilience.” Mbeki has been temporarily replaced by Kgalema Motlanthe.
- Militants Kidnap 155 in Afghanistan:
Three buses carrying Afghan laborers were stopped by militants and all 155 people on board were kidnapped. No one has yet claimed responsibility and the Interior Ministry spokesman says, "What demand might they have from the government? They are poor and innocent laborers who are traveling far distances for work." Though kidnappings and ransoms are routine in Afghanistan, this instance is the first time militants have attempted to abduct and hold such a large group.