In Friday's Americas papers

19 September 2008 12:03  [Source: ICIS news]

US plans sweeping financial clean-up
The government may create a mechanism to take bad assets off the balance sheets of financial companies, part of a widening series of interventions aimed at snapping the crisis.

Crisis seeps into everyday lives
The crisis gripping global finance is filtering into the everyday lives of Americans, spawning a variety of emotions and shifts in investment portfolios.

ROI: the best stocks to buy now options narrow for next president
Sometimes events reshape a presidential campaign. Sometimes they reshape the world the candidates seek to lead, writes Gerald Seib.

Financials' gains lift indexes
European stocks surged at the open, with financial stocks to the fore amid hopes US regulators are set to finalize a grand plan to address the credit crisis.

Investors flee money funds
As credit markets locked up world-wide, investors moved their cash from money funds to safer locales such as US Treasury’s and bank certificates of deposit.

Fed lent $121bn on week subscriber content
The scope of the Fed's lending, a bid to steady the wobbly financial system, underscores the difficulties firms face in raising funds from private sources.

Fed and Treasury offer to work with Congress on bailout plan
Top officials at the Treasury Department and Federal Reserve began discussing with Congressional leaders a plan to buy up large numbers of distressed mortgages held by ailing financial institutions.

Stocks surge in Europe and Asia on hopes of US action
Banking shares in particular surged, with investors pinning hopes on proposed US action to counter the global crisis.

Pain spreads as credit vise grows tighter
As the credit crisis on Wall Street moves to Main Street, borrowers are finding that the nation’s lenders are tightening up in numerous ways.

A bid to curb profit gambit as banks fall
A backlash against short sellers has begun, with regulators in the US and Britain tightening rules and authorities in New York intensifying investigations.

A committee of three forges crisis response
Treasury secretary, Federal Reserve chairman and president of Federal Reserve Bank of New York engineer handling of grave financial situation.

To plan B, with all deliberate speed
In an effort to restore investor confidence, ease the anxieties of election-year voters and get out ahead of a financial crisis that threatens to spin out of control, Washington is moving toward creation of a new government entity.

Citing financial threats, rescue is prepared
A bipartisan coalition of congressional leader’s vows to work with the Bush administration to enact a plan to prop up troubled financial institutions whose massive debt threatens their survival and the health of the US financial system.

In crucible of crisis, a committee of three
The response has been engineered by Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and Timothy Geithner, president of the Federal Reserve Bank of New York.

Front page

Liberals gain traction in key Ontario, Quebec ridings
The Liberal campaign is starting to gain traction in key battlegrounds in Ontario and Quebec, according to a new poll by The Strategic Counsel.

Key evidence in terrorism trial posted online
A key piece of evidence in a Toronto terrorism trial has been posted on a US website: a video that shows masked men wearing winter camouflage fatigues while firing guns and waving a black flag, or marching in a snowy woodland.

Shares soar as US plans to expunge bad debt
The US government is preparing to escalate its emergency market bailout and "address systemic risks" with the creation of an agency to take bad assets off the balance sheets of the nation's foundering banks.

Panic on Main Street
Main Street spent the last few weeks thinking the financial crisis was a Wall Street problem.

BUENOS AIRES HERALD

Front page

Bendini charged, quits army helm
Cabinet Chief Sergio Massa announced last night that army chief Roberto Bendini had asked for his retirement after the Federal Appeals Court in Comodoro Rivadavia, Chubut, indicted him for irregularities in the administration of public funds. Read More

4 arrests amid Mexican drug ring probe
A married couple who own a pharmacy in Buenos Aires City were arrested yesterday, suspected of providing medical supplies to a gang of Mexican drug traffickers the ring was busted in August who elaborated illegal drugs, sources from the investigation reported.

Davis Cup semifinal opens today
Shake hands and come out swinging a tennis racket. Game 2: Del Potro v Davydenko.

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