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Front Page: Taxpayer ATM to Doll Out $7.4 Trillion in Rescues

  • The US government has pledged more than $7.4 trillion to bail out the financial system. That amount of taxpayer money represents half of the value of everything produced in the US last year. — Bloomberg
  • Citibank is the latest institution to receive a bailout. The US government will back $300 billion in loans and invest $20 million in the troubled company as well. So far the markets have reacted well to the news. — New York Times

  • A rush hour-timed bomb left at least 19 people dead in Baghdad today. The roadside bomb blew up a bus packed with government employees. — BBC
  • Fed up with the rise in pirate attacks, ship and tanker owners from all over the world have called for a military blockade along the coast of Somalia. More than 90 ships have been seized so far this year. — CNN


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