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Front Page: Wall Street in Chaos, 2,000 Saved From Hurricane Ike, Stampede in Indonesia

  • Wall Street in Chaos:
    Two Wall Street banks, Lehman Brothers and Merrill Lynch are in turmoil. Merrill Lynch has agreed to sell itself to Bank of America to stem their mounting financial crisis, while Lehman Brothers has filed for bankruptcy. Added to this, insurance giant AIG has sought $40 billion from the federal reserve to try and save itself. The two banks employ 100,000 people, and shock waves are expected throughout the economy.
  • 2,000 Saved From Hurricane Ike:
    In the biggest search and rescue operation in Texas history, almost 2,000 people have been saved from flooded streets following Hurricane Ike. The death toll from the storm has risen to 30 people spread over eight states. Shelters in San Antonio and Austin are crowded with survivors with no home to return to.

  • Stampede in Indonesia:
    About 21 people have been killed and more injured in a stampede in Indonesia as people waited for charity handouts from a wealthy family. The giveaway sums totaled about $4 and are a tradition during the month of Ramadan. The giveaway tradition is part of Zakat, where wealth Muslims give away a portion of their money to the poor every year. Footage shows women being pushed up against the fence in the crush of people, and most of those killed were women.


Join The Conversation
ilanac13 ilanac13 8 years
my friends work (ed) at lehman and across the street from the office and it was mass chaos today over there. it's a really scary thing to think that a bank as sturdy as ML or Leh had these major issues, but i guess it shows us that nothing's sacred right? i think that it's a nice thing to hear about how many people are continuing to be rescued from Texas, however every single person that gets rescued says that they should have listened and that they will never ignore warnings like that again. it's a lot of resources that the state and federal governments put out to try to get people out of the area and people were stubborn so now it's taking even more money to get them out. i think that it's a wonder that so many people rode out the storm, but when you're thinking about how fragile our economical situation is already - it's insane to think about how much it's costing every day to get more people out when they could be using that money to rebuild the towns. maybe people will listen if this happens again? it's crazy for us to think about how stampedes like that happen for $4. it's hard to think about how there are countries that find amounts like that to be life changing even for a little bit, and then to hear about the tragedies that happen as a result. i know that there are cultures who follow traditions like that - and it's a shame that it's having an outcome like that as well...
CaterpillarGirl CaterpillarGirl 8 years
Wow verily , I am glad they are alright, I have been through a few myself and its so stressful! The best thing you can bring them, is a tub of Damp-Rid!
verily verily 8 years
I would be annoyed too if they refused to be rescued. I suppose they might be afraid of looters, but their health and safety is far more important than a bunch of stuff! Even though the hurricane passed directly over their city, my parents escaped completely unscathed. Their grill suffered an early death from a tree branch, but none of the trees that fell in their yard came anywhere close to their house or the barn. I'll probably head home this weekend to help clean up.
CaterpillarGirl CaterpillarGirl 8 years
I saw Video of the Texas National Guard being dropped down by helicopter onto peoples houses (which were by the way surrounded by water, had no electricity) and be told by the homeowners that they didnt want to be rescued! So they left a bunch of MRE's (and i have had my share of those monstrocities to know they wont be sh*tting for weeks, or they will be sh*tting every 5 seconds!) I hate to see those guys put themselves in harms way to try to help people who refuse to budge.
harmonyfrance harmonyfrance 8 years
Wall Street terrifies me.
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