gleans at 1:15 PM MT, 10/7

 

Retirement accounts have lost $2 trillion

WASHINGTON - Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday.

 

 

 

Congress scolds former AIG executives over crisis

WASHINGTON - Former top executives of insurance giant American International Group Inc. were on the receiving end of a verbal smackdown Tuesday as a congressional panel probed the chain of events that forced the government to bail out the conglomerate.

 

 

 

AIG: Tales of Reckless Excess

House hearing reveals a $443,000 luxury retreat for execs, and $7,000 golf tab, held days after the insurer was given a government bailout

 

 

 

A Bailout for British Banks?

Barclays and Royal Bank of Scotland deny they're seeking government capital, but some sort of action may be needed to calm investors

 

 

 

Milk Contamination Is Sinking China's Farmers

• Slide Show: China's Tainted Milk: The Scandal Grows

 

 

Buffett's Ferocious Focus

 

 

 

Lightweights Get Serious

• Podcast: Great Performance, Smaller Display Size

 

 

Saying Outlook Has Worsened, Bernanke Hints at Cut

By DAVID STOUT and EDMUND L. ANDREWS 

In an address that was at once sobering but hopeful, the Fed chief hinted strongly that the Fed would lower interest rates at its meeting this month.

• Nocera: Punching Dick Fuld
• Economix: Unsatisfied
• DealBook Special Section

 

 

Bush urges joint crisis response US President George W Bush calls for co-ordinated action by industrialised countries to tackle the worldwide credit crunch. Markets mixed in volatile trade UK to unveil bank rescue EU moves to reassure savers Latest at-a-glance: 7 Oct Credit crisis: World in turmoil Banks' shares fall sharply Peston: The banks' problem

 

 

 

 

Iran recasts report on US jet
United Press International - TEHRAN, Oct. 7 (UPI) -- Iranian officials have backed off their claim of forcing a US warplane to land Tuesday after Pentagon officials said no evidence supported the claim.