As Congressional leaders and Treasury officials continue to discuss the $700 billion
plan to bail out the financial sector, the media is paying close attention, and some Web sites are offering live updates as the hearings proceed.
US Treasury secretary Henry Paulson and Federal Reserve chairman Ben Bernanke urged Congress to take
swift action, but doubts are permeating not only
Congress, but the
public as well.
Meanwhile, a CNN/Opinion Research Corp. survey found that the public
blames the Republicans more than Democrats for the financial crisis. And presidential candidate Barack Obama
admitted that the bailout would hinder some spending programs he has promised during his campaign.
Also:
As part of an aggressive online push, the National Hockey league
introduced GameCenter Live, an online service that allows visitors to watch almost all NHL games live online.
The slow housing market, increased unemployment, and slow income growth will all contribute to the lowest holiday sales since 2002, according to the
National Retail Federation.
As fears surrounding the tainted milk crisis in China spread
globally, the country
promised to increase inspections and change its food safety laws.