Even for a party whose president suffers dismal approval ratings, whose legislative wing lost control of Congress and whose presidential nominee trails in the polls, it was a remarkably bad day for Republicans.
United States president George W Bush has said that legislators will rise to the occasion and pass the proposed 700 billion Wall Street rescue plan. He said disagreements remained as the proposal is big and the reason it's big is because it's a big problem.
United States lawmakers have expressed strong skepticism about a bail-out of the banking system, following a five-hour Senate hearing on the rescue plan. Treasury Secretary Henry Paulson told the banking panel that delaying the 700 billion US dollars bail-out would put the entire US economy at risk.
The US Department of Justice, FBI is investigating four of the US financial giants caught out by the financial crisis hitting Wall Street for possible fraud, according to reports.
Economy Nobel Prize Joseph Stiglitz described as monstrous for US taxpayers the current bail out plan for the financial sector announced by Washington over the weekend.
Did you see with whom Obama wants to talk to asks a new Spanish language spot from the Republican John McCain campaign, which is followed by a violent speech from Venezuelan president Hugo Chavez against the US, which then accuses Democrat Barack Obama of wanting to meet him with no conditions.
United States is set to take unprecedented measures to tackle the crisis gripping US financial markets, announced President George Bush on Friday. But he warned the moves, which include spending of billions of dollars to buy up bad debts, would risk a significant amount of taxpayers' money.
United States officials said they will hammer out a comprehensive plan to ease what has become a global financial crisis. US Treasury Secretary Henry Paulson said after meeting members of Congress that legislation would be required to help rid US banks of their bad assets.
Bill Gates remains the richest man in the United States with 57 billion US dollars in assets despite losing his crown to Warren Buffett for a few months earlier this year according to the latest The Forbes 400 billionaires.
Billionaire investor George Soros has given his gloomiest assessment of the state of the US and world economies. Speaking with BBC business editor Robert Peston Soros said that the acute phase of the credit crunch may be over but effects on the real economy are yet to be felt.