Stock intended to eventually earn taxpayers a profit as part of the Bush administration's massive bank bailout has lost a third of its value - about $9 billion - in barely one month, according to an Associated Press analysis. Shares in virtually every bank that received federal money have remained below the prices the government negotiated. Most of the Treasury Department's investments since late October have been in preferred bank stocks, more than $180 billion worth, with investments in giants like Citigroup and JPMorgan Chase, and many small community banks. But the government also negotiated options to buy up to 1.2 billion shares of common bank stock that was valued at $27 billion.
WASHINGTON (AP) - With the economy sinking faster, employers are giving more Americans dreaded pink slips right before the holidays. The Labor Department releases a new report Friday that's expected to show the employment market deteriorated in November at an alarming clip as the deepening recession engulfed the country.
MUMBAI, India (AP) - India's top law enforcement official is admitting government "lapses" in last week's Mumbai attacks. Home Minister Palaniappan Chidambaram said Friday "there have been lapses" on the government's part in the deadly assaults, and he's seeking to improve the country's security system.
WASHINGTON (AP) - The government would order a major restructuring of Detroit's struggling Big Three auto companies in exchange for a multibillion-dollar bailout under a plan circulating in Congress. Skeptical lawmakers are weighing whether to dole out as much as $34 billion in aid to the automakers as the once-mighty companies make their second round of pleas for government help to keep them from collapsing by year's end and potentially deepening an already painful recession.
LAS VEGAS (AP) - O.J. Simpson is going to prison; the question is for how long. The former football star who walked away a free man after a celebrated murder trial was due to learn Friday how much time he'll spend in a Nevada state prison for a botched attempt to recover sports mementoes and personal items from two collectibles peddlers.
WASHINGTON (AP) - Preparing for her new role as secretary of state, Hillary Rodham Clinton is moving to surround herself with a cast of die-hard loyalists and veterans of her husband's administration to help her cope with world crises and backstage Washington power plays. For her team of foreign policy experts, the nation's third female secretary of state is expected to draw heavily from the staff of the first, Madeleine Albright, who was an early supporter of Clinton's unsuccessful bid for the Democratic presidential nomination.
WASHINGTON (AP) - The Justice Department is readying indictments that could send Blackwater Worldwide guards to prison for at least 30 years for their involvement in the deadly 2007 Baghdad shooting of Iraqi civilians, people close to the case said. Charges could be announced as early as Monday in the shooting, which left 17 civilians dead and strained U.S. relations with the fledgling Iraqi government. People familiar with the charges said they may include an aggressive Reagan-era anti-drug law cracking down on assault weapons.
OTTAWA (AP) - Canada's opposition parties vowed to oust Prime Minister Stephen Harper's government next month after Harper shut down Parliament to avoid almost certain defeat in a confidence vote, but infighting among one of the parties is casting doubt on whether the coalition will hold. Harper successfully asked the unelected representative of the head of state Thursday for the power to close down Parliament until Jan. 26, hoping to buy enough time to develop a stimulus package that could prop up the economy.
LOS ANGELES (AP) - The first NFL game broadcast to theaters live in 3-D fumbled, then recovered Thursday night. Two satellite glitches blacked out the broadcast to theaters in Boston, New York and Los Angeles in the first half of the game between the Oakland Raiders and the San Diego Chargers.
EAST RUTHERFORD, N.J. (AP) - Antonio Pierce is finally going to talk to investigators about what he did on the night Plaxico Burress shot himself. Pierce and Josyann Abisaab, the doctor who treated Burress after he accidentally shot himself in the thigh at a Manhattan nightclub, will be accompanied by their lawyers when they meet with the authorities Friday, NYPD Deputy Commissioner for Public Information Paul Browne said.
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