- Bush Defends Measures:
In a speech at the US Chamber of Commerce moments ago, President Bush defended the government's recent intervention in the financial crisis as measures of "last resort," saying that it will "take a while" for the credit system to thaw and that Americans can be confident it will. He said of the intervention, "Had the government not acted. . . We would have been forced to respond with even more drastic and costly measures later on."
- China's Media Freedoms to End:
The rules that allowed greater freedom for foreign reporters during the Olympics are set to expire. There has been no word yet whether they will be extended, tossed, or traded for a new set of rules. The rules that allowed journalists to travel around China without applying for permission did not apply to Chinese journalists. Many hope the freedom will expand as a legacy of the Games.
- US Pushes for Iraq Security Deal:
Secretary of Defense Robert Gates is seeking to extend the US mandate in Iraq which is set to expire later this year. The details of the planned draft would have US troops withdraw from Iraq by 2011. Official approval by Congress isn't required though approval from Iraq, is. The current mandate expires on Dec. 31.