Matthew Tannin and Ralph Cioffi, two former Bear Stearns managers, were arrested Thursday in New Jersey and New York, becoming the first executives to face criminal charges in the wake of the subprime market debacle.
Treasury Secretary Henry Paulson on Thursday urged broad new powers for the Federal Reserve to demand information from Wall Street investment banks and said markets must be prepared for the fact that some firms can fail.
The New York-based Conference Board said Thursday that its forecast of future economic activity rose 0.1 percent in May, another sign of the current snail's-pace growth rate of the current economy.
If elected president, Sen. John McCain said he would push to add 45 new nuclear reactors to the 104 that currently produce about 20 percent of the nation's electricity needs. He also pledged $2 billion annually in federal funds "to make clean coal a reality."