U.S. Top News Late Edition: Greenspan "shocked" at credit system breakdown

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Good evening Srini, THU 23 Oct 2008  today's headlines Greenspan "shocked" at credit system breakdown New York Times endorses Obama for president Bear Stearns $30 billion mortgage portfolio falls 9 percent Job cuts, auto woes deepen global recession fears Mail warns financial institutions of "payback" Wave of job cuts sweeps across corporate America NY council extends term limit so Bloomberg can run Wall Street rebounds on energy and drug strength McCain hammers Obama on Florida bus tour Jury in Sen. Stevens' trial seeks to oust a member   today's videos Greenspan in the hot seat McCain's closing message Funerals in Afghanistan more details Greenspan "shocked" at credit system breakdown October 23, 2008 08:41 PM ET WASHINGTON (Reuters) - Former Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is "shocked" at the breakdown in U.S. credit markets and said he was "partially" wrong to resist regulation of some securities. Full Article New York Times endorses Obama for president October 23, 2008 09:24 PM ET NEW YORK (Reuters) - The New York Times endorsed Democrat Barack Obama for U.S. president on Thursday, saying he had "met challenge after challenge, growing as a leader and putting real flesh on his early promises of hope and change." Full Article Bear Stearns $30 billion mortgage portfolio falls 9 percent October 23, 2008 07:56 PM ET NEW YORK (Reuters) - A Bear Stearns mortgage portfolio backed by the U.S. government racked up $2.7 billion of losses in the third quarter, amounting to a 9 percent decline on about $30 billion of assets, the Federal Reserve said Thursday. Full Article Job cuts, auto woes deepen global recession fears October 23, 2008 06:56 PM ET WASHINGTON (Reuters) - Bleak outlooks from world carmakers and more news of big job cuts at major companies on Thursday deepened fears in corporate boardrooms and trading floors around the world of an extended global recession. Full Article Mail warns financial institutions of "payback" October 23, 2008 08:21 PM ET WASHINGTON (Reuters) - Threatening letters containing a suspicious white powder mailed to three U.S. financial institutions warn "it's payback time," according to a text released by the FBI on Thursday. Full Article Wave of job cuts sweeps across corporate America October 23, 2008 08:22 PM ET NEW YORK (Reuters) - Corporate America is bleeding jobs and wielding the ax well beyond the financial sector. Full Article NY council extends term limit so Bloomberg can run October 23, 2008 07:00 PM ET NEW YORK (Reuters) - Mayor Michael Bloomberg won the right to seek re-election as New York's City Council voted on Thursday to extend the two-term limit for elected officials as the city grapples with the global financial crisis. Full Article Wall Street rebounds on energy and drug strength October 23, 2008 08:39 PM ET NEW YORK (Reuters) - Stocks clawed back from five-year lows on Thursday, led by a bounce in energy and health-care stocks after oil recovered from a 16-month trough and top pharmaceutical companies posted reassuring earnings. Full Article McCain hammers Obama on Florida bus tour October 23, 2008 10:00 PM ET SARASOTA, Florida (Reuters) - Republican presidential nominee John McCain took his "Joe the Plumber" economic message on a bus ride across Florida on Thursday, accusing Democrat Barack Obama of backing a tax plan that would endanger the teetering U.S. economy. Full Article Jury in Sen. Stevens' trial seeks to oust a member October 23, 2008 03:32 PM ET WASHINGTON (Reuters) - The judge overseeing Alaska Sen. Ted Stevens' corruption trial on Thursday told jurors to keep their deliberations civil after they asked him to remove one member for engaging in "violent outbursts." Full Article     REUTERS www.reuters.com Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book.Details Subscribe to other Reuters newsletters Unsubscribe from this newsletter. Forward this mailing to a friend or colleague Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Interactive TV | Labs | Reuters in Second Life | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers