10/24 Roundup: Keeping People in their Homes, Repentant Bushies, The Electric Slide

Leader: Keeping People in Their Homes

- The push to keep people in their homes continues to gain momentum. The White House offered a proposal to the Senate Banking Committee yesterday, and many senators were favorable to the idea. Specifics of the plan have not  yet been released, but we know it ensures that the Treasury will stand firmly behind homeowners.

- In an ambitious move to prevent foreclosures, Countrywide-- a private bank-- may temporarily slash interest rates for homeowners in trouble. Homeowner advocates are hailing the idea as a model for other banks. 

Economy

- Alan "The Oracle" Greenspan testified before the House Oversight and Government Reform Committee yesterday, and was eaten alive. Most shocking: he admitted the error of his ideas.

- To keep falling prices from falling further, OPEC agreed to cut oil production by 1.5 million barrels per day.  Investors were totally unimpressed, and prices continued to fall.

- Global markets continue to dive. Is this even news anymore?

Election '08

- The McCain campaign has turned the Republican party into a "circular firing squad," writes Politico.

- McCain says you shouldn't vote for Barack Obama because we can't afford four more years of Bush's failed policies.  Weird.

- Barack Obama is beginning to shift some of his excess resources toward helping down-ticket Democrats in competitive races. 

- Obama is gaining ground among people who supported Bush four years ago. The biggest name among the repentant Bushies: Former White House Press Secretary Scott McLellan.

- Panic and confusion have beset the McCain campaign now that the New York Times is endorsing Barack Obama.

International

- Western governments are talking with the IMF about establishing a massive line of credit that would grant loans to poorer countries facing trouble as a result of fallout from the financial crisis.

- Rotterdam's Club Watt is the first sustainable nightclub in the world: Dancing generates electricity!

One More Thing

- Goodness knows I hate sitting in traffic, but this is beyond the pale: Joe McCain (John's brother) called 911  to complain about it.  You can read and listen to the call, recorded by Alexandria Police, here. 

- Hawaii is stepping into the future by swearing off coal and aiming to be 70% renewable by 2030.

- Last, SNL cashes in on their success with a mid-week special: