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A pair of traders share a laugh on the New York Stock Exchange floor, Tuesday Sept. 30, 2008. Wall Street has ended sharply higher as investors bet that lawmakers will salvage a $700 billion rescue plan for the financial sector. (AP Photo/Richard Drew)
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AP

Stocks surge higher, but credit worries persist

AP - 39 minutes ago

NEW YORK - Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief.

US Senator Kent Conrad(C) talks with reporters outside the Senate Chamber the day after the House defeated a 700 USD billion emergency rescue for the nation's financial system, ignoring urgent warnings from President Bush and congressional leaders of both parties that the economy could nosedive without it.(AFP/Tim Sloan)

Lawmakers try to revise bailout, FDIC hike seen

AP - 51 minutes ago

WASHINGTON - Congressional leaders scrambled Tuesday to come up with changes to help them sell the failed $700 billion financial bailout to rank-and-file members. One idea gathering support: raise the federal deposit insurance limit to reassure nervous savers and help small businesses.

Democratic presidential candidate Sen. Barack Obama D-Ill., speaks at a rally in front of Morrill Hall at the University of Nevada at Reno, Nev., Tuesday, Sept. 30, 2008. Obama called for Americans to support the rescue plan for the financial sector and told them that if Wall Street fails, ordinary people will be hurt, too. (AP Photo/Alex Brandon)

Obama, McCain seek political gain in credit crisis

AP - 50 minutes ago

DES MOINES - White House rivals John McCain and Barack Obama combined televised attack ads with statesmanlike appeals for bipartisanship on Tuesday as they vied for political gain in the shadow of the worst economic crisis since the Great Depression.

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