The latest news on the Wall Street Crisis, Main Street Crisis, Hurricane Ike, Global Warming, Megachurches, Education, Women in Politics, North Korea, Russia, Iran, Afghanistan, Iraq, Zimbabwe, Israel, China, and Select Commentary and Op-eds.

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Wall Street crisis. U.S. stocks soar ahead of Government bailout "U.S. stocks soared as trading opened today, lifting the London market to its highest one-day gain as investors anxiously waited for details of a historic plan by the U.S. Government to rescue its battered banking system." 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." Citing Grave Financial Threats, Officials Ready Massive Rescue "The Bush administration is urgently preparing a massive intervention to revive the U.S. financial system, including a plan to sweep away the unpaid loans that are choking banks and blocking the flow of money to borrowers." U.S. proposes sweeping bailout "In what could be the biggest bailout since the Great Depression, top government officials and congressional leaders agreed to quickly develop a comprehensive plan aimed at defusing the nation's roiling financial crisis." Governments Worldwide Move to Stanch Panic "Governments around the world moved in extraordinary unison yesterday to contain the spreading panic over the crisis in the United States, injecting up to $180 billion into the global financial system and moving quickly to shore up their own damaged lenders and markets."

Main Street 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." Stock-market woes highlight risk U.S. families now face "Whether it's disappearing work-based health care, the move from traditional pensions to 401(k)s, the push to privatize Social Security or just making it harder to file for personal bankruptcy, safety nets that were designed to make Americans more secure have been watered down, abandoned or altered so that individuals bear a greater share of the risk and cost." In hard times, nation sees surge in tent encampments "From Seattle to Athens, Ga., homeless advocacy groups and city agencies are reporting the most visible rise in homeless encampments in a generation. Nearly 61 percent of local and state homeless coalitions say they've experienced a rise in homelessness since the foreclosure crisis began in 2007."

Hurricane Ike. Power is on its way - but so is heat and humidity "On Day 6 of the largest blackout in Texas history, CenterPoint Energy's power restorations approached a million but that still leaves more than half its customers without power nearly a week after Hurricane Ike shredded the local electricity network." Areas hit hard by Hurricane Ike begin to mend "There's a grocery store open for business on Galveston Island. Cellphone towers are connecting calls. More lights are coming on at night." Power Still Not Restored to Many in the Midwest "Hundreds of thousands of Midwestern residents remained without power on Thursday after remnants of Hurricane Ike swept through the region on Sunday, bringing torrential downpours and strong winds." Cuba faces food shortage after hurricanes "The government is introducing emergency measures after nearly a third of the country's crops were destroyed. The twin storms caused the worst damage in the island's history."

Global warming. Global warming fight will boost California economy, study says "Costly as it may seem, California's mandate to cut climate-altering exhausts from vehicles and industry by nearly one-third in the next 12 years actually will boost the economy, a state analysis released Wednesday predicts." Green roofs are taking root in American cities "The concept of planted green roofs, which gained early popularity in Chicago, is beginning to take root in New York and other cities."

Megachurches. Big Churches Not Always Impersonal, Study Finds "Congregants find megachurches offer more personal worship and sense of community than smaller churches, according to a study released yesterday that challenges the conventional wisdom that some large churches are too big to offer a spiritual experience."

Education. For a Global Generation, Public Health Is a Hot Field "Courses in epidemiology, public health and global health -- three subjects that were not offered by most colleges a generation ago -- are hot classes on campuses these days." Panel Proposes Broad Changes in Federal Financial Aid for College "The recommendations included a simpler application, Pell grant maximums linked to the consumer price index and federally financed college savings accounts for children in low-income families."

Women in politics. U.N. Study Finds More Women in Politics "Much of the increase was driven by women realizing that they needed to attain power rather than just lobby for change, said women who spoke at a ceremony for the study's release."

North Korea. North Korea confirms it is preparing to restart nuclear facility, blames US for standoff "North Korea said Friday it is making 'thorough preparations' to restart its nuclear reactor, accusing the United States of failing to fulfill its obligations under an international disarmament-for-aid agreement." North Korea 'to restart reactor' "North Korea has started preparatory works to restart its main nuclear facility, a senior diplomat has said, amid a deadlock in international disarmament talks." North Korea 'to restore reactor' "North Korea has stopped disabling the Yongbyon nuclear reactor and is making "thorough preparations" to restart it."

Russia. Rice says U.S. will resist Russian moves against its neighbors "Using her toughest rhetoric so far to criticize Russia, Secretary of State Condoleezza Rice said that its invasion of Georgia had put Moscow 'on a one-way path to self-imposed isolation' and warned that the West would resist further Russian attempts to impinge on its neighbors' sovereignty." Condoleezza Rice talks tough on Russian aggression in Georgia but US grasps for firm response "In unusually blunt remarks, Secretary of State Condoleezza Rice said Russia is buying a one-way ticket to insignificance." NATO rapid-response unit proposed to address fears about Russia "Seeking to reassure countries that have grown fearful of Russia, Western defense ministers will consider the creation of an easily deployable military force that could be sent into nations feeling threatened." NATO plots rapid-reaction unit to counter Russia "NATO defense ministers are today considering the creation of a rapid-response military force to respond to Russian aggression. The proposal, a compromise dreamed up by the Pentagon to reassure allies, will be under discussion at today's NATO defense ministers meeting in London." Russia warns of new Iron Curtain "President Dmitri Medvedev has accused the West of trying to push Russia behind a new 'Iron Curtain.' 'This is not our path. For us there is no sense going back to the past,' the Russian leader said in Moscow."

Iran. Peres on Iran: War must not be an option "The world should hit Iran where it hurts -- in its economy -- much harder than it does now, and Israel will push the United Nations to that effect when the General Assembly convenes next week, President Shimon Peres told The Jerusalem Post."

Afghanistan. U.S. wants $20bn to fund Afghanistan effort "The U.S. is seeking $20bn from its allies to help stabilize Afghanistan as it plans to send thousands more of its own troops to confront the growing insurgency in the country." Britain under pressure for a troop surge "Britain is coming under increasing pressure to send more troops to Afghanistan as part of an American-led 'quiet surge' designed to counter the worsening insurgency." War and Drought Threaten Afghan Food Supply "More than a quarter of the population may face a harsh winter as a result of a pitiable harvest this year."

Iraq. U.S. air raid kills Iraq civilians "The U.S. military says seven people, including three women have been killed in an air strike near Tikrit." Agreement With Iraq Over Troops Is at Risk "The major remaining point of contention between the American military and Iraqi leaders involves immunity, said officials on both sides."

Zimbabwe. Zimbabwe Power-Sharing Deal Deadlocks "Power-sharing talks between President Robert Mugabe and the opposition leader Morgan Tsvangirai deadlocked over Mr. Mugabe's insistence that he retain control of the state's vast security forces, as well as most of the other crucial ministries." Cabinet row stalls Zimbabwe talks "Power-sharing talks between Zimbabwe's ruling Zanu-PF and opposition Movement for Democratic Change (MDC) have reached a stalemate amid a failure to reach agreement on key cabinet posts." Zimbabwe unity deal hits trouble "President Robert Mugabe and his political rivals have been unable to agree on how to share key cabinet posts, an opposition spokesman said yesterday, in a sign that bitter divisions threaten the power-sharing agreement in Zimbabwe."

Israel. Livni works for unity in Kadima "Tzipi Livni, new leader of Israel's ruling Kadima party, is working to restore unity after her victory in a leadership election opened rifts." Ultra-Orthodox party with provocative chief emerges as kingmaker for Israel's ruling coalition "Having won a fight to be leader of the ruling Kadima Party, Tzipi Livni now will likely need Shas as a partner to become prime minister. But Shas opposes any compromise on Jerusalem, and including it in a coalition could tie her hands in peace talks with the Palestinians." ANALYSIS / Livni's victory is a big crack in the glass ceiling "If Tzipi Livni forms a cabinet, Israel will be the only country in the world with women heading all three branches of government -- the executive, legislature and judiciary."

China. China's contaminated milk crisis grows as tests show top dairy firms affected "The growing scandal has been blamed for the deaths of four infants, while a further 6,200 babies have become ill." Recalls as China milk scare spreads "The government has said it will introduce a new food monitoring system in response to the crisis -- the latest in a series of safety scandals to rock China's food and manufacturing industries."

Commentary. It's the morality, sinner (Jim Wallis, Chicago Tribune) "Everyone has heard the famous phrase, attributed to James Carville, that supposedly won the 1992 presidential election for Bill Clinton: "It's the economy, stupid!" It's still good advice, especially as the shocking collapse of the financial markets has turned the election campaign into a much more serious and somber discussion than lipstick on pigs."

Editorial. First test of leadership (Haaretz) "Livni has a mandate to try to form a government because that is the parliamentary system in Israel. The claim that her mandate may be legal but she does not have moral legitimacy is typical of the Israeli political discourse since the Oslo Accords. Anyone who tries to reach a peace agreement with the Palestinians is treated similarly."