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Sept. 22 (Bloomberg) -- The financial crisis of the past year has provided a number of surprising twists and turns, and from Bear Stearns Cos. to American International Group Inc., ambiguity has been a big part of the story.

By BRADLEY OLSON


A quarter of a million people in the Houston region were without running water Tuesday, according to the Texas Commission on Environmental Quality, which regulates more than 2,500 public water systems in the 10-county region hammered by Hurricane Ike.

by Chris Bedford
 

Agency praised for better responsiveness, but bureaucratic red tape still a problem.

The federal government’s response to the devastation wrought by Hurricanes Ike and Gustav shows a dramatic improvement over its handling of Hurricanes Katrina and Rita, but there is still much room for improvement, according to officials and representatives from all levels of the government, who attended Tuesday’s hearing by the Senate Homeland Security and Governmental Affairs Subcommittee on Disaster Recovery.

by Dallas Morning News

It's clear from the presidential candidates' tactical evasion that neither plans to give illegal immigration the priority attention it deserves early in the next administration. Whatever other pressing issues are vying for the candidates' time, there's no excuse for their neglect of comprehensive immigration reform.

By Kathy Shaidle

International reaction was almost uniformly negative last week when news broke that Britain had officially granted Muslim Sharia courts permission to rule on everything from divorce to domestic violence. After all, in its strictest form, Sharia law requires the stoning of women accused of adultery, and the execution of converts from Islam, among other draconian punishments for offences that aren’t even considered crimes in the West. In the U.K. and abroad, pundits and politicians denounced Britain’s capitulation, but only one elected official responded with a daring proposal aimed at preventing Sharia law from gaining such a foothold in America.

(Compiler's note: Developing ....)

WASHINGTON — From the start of Tuesday's hearing on Capitol Hill, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke's urgent call for an unprecedented federal bailout of the U.S. financial system was met by skepticism, criticism and even anger among senators in both parties.

Before long, it was clear that the sweeping proposal introduced late last week by Paulson, Bernanke and Securities and Exchange Commission Chairman Christopher Cox to try to ward off a devastating credit crunch will have to be altered — perhaps significantly — to win Congress' approval. ....

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