Free Internet Press Newsletter - Friday October 3 2008 - (813)

Friday October 3 2008 edition
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Senate Approves Bailout After Revisions 2008-10-02 03:55:39 The Senate voted reluctantly but solidly in favor of a modified $700-billion Wall Street rescue plan Wednesday, but it remained uncertain whether the legislation -- even with a carefully designed package of tax breaks -- would withstand the fierce crosswinds of liberal and conservative resistance in the House later this week. The measure passed the Senate 74 to 25, with a majority of Democrats and Republicans voting in favor -- among them presidential nominees Sen. Barack Obama and Sen. John McCain. The centerpiece of the legislation gives the government the authority to buy up billions of dollars of the "toxic" assets, primarily mortgage-backed securities, that have poisoned financial markets and threaten to contaminate the rest of the economy. Read The Full Story	More Tainted Candy From China Is In U.S. 2008-10-02 01:17:37 More contaminated Chinese candy was discovered in the United States on Wednesday, this time in Connecticut, where consumer protection officials issued a public warning against eating the sticky sweet. In China, meanwhile, a couple filed a lawsuit against the company at the center of the tainted dairy scandal despite efforts by authorities to keep the issue out of the courts. The discovery announced Wednesday involved the White Rabbit Creamy Candy brand, which is sold in 50 countries but has already been recalled from stores in Britain and many Asian countries. Jerry Farrell Jr., Connecticut’s consumer protection commissioner, announced that contaminated candy had been found at two stores in New Haven, one in West Hartford and one in East Haven. In each case, tests found traces of an industrial additive, melamine, in the candy. “We’re concerned, obviously, there may have been bags sold of these before we got to them,” Mr. Farrell said on Wednesday, according to The Associated Press. Read The Full Story
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