The House of Representatives voted to reject a $700 billion bailout of the financial industry on Monday, ending a week of intense debate in which President Bush and leaders in Congress strongly urged members of both parties to support the bill. Panic on Wall Street coincided with the rejection, as the Dow Jones Industrial Average plunged by 777 points. Advocates of the bailout legislation said they hope to revive it on Wednesday.
Paul Newman, the legendary actor and philanthropist who donated over $220 million to charity in his lifetime, died on Friday in his home in Westport, Conn. The star of over 65 films in a career spanning 50 years, Newman earned his place in history as the iconic lead in a number of famous movies, most notably “Cool Hand Luke” and “Butch Cassidy and the Sundance Kid.” The cause of death was complications arising from lung cancer.
Presidential candidates Barack Obama and John McCain traded barbs in the first debate of the general election season on Friday, advertising themselves to voters amidst widespread concerns about military aggression in Georgia and the uncertain fate of the economy. The debate, which lasted for 90 minutes and was moderated by news anchor Jim Lehrer, touched on everything from the nominees’ views on Iraq to their differing plans to reform tax policy. Polls taken in the days after the debate indicate a bump for Obama.
The Phoenix spacecraft has found evidence of past water on Mars, NASA scientists reported on Monday. Soil experiments revealed the presence of two minerals, calcium carbonate and sheet silicate, which are known to be formed in liquid water. It also found snow in the clouds above the polar ice cap.
A federal judge in Honolulu has thrown out a lawsuit against the Large Hadron Particle Collider in Geneva, citing safety studies that cast doubt over its potential to end the world. Walter Wagner, a retired radiation safety officer who lives in Hawaii, filed the lawsuit after reading that the collider could cause a black hole. The judge cited limited jurisdiction as her reason for tossing out the case.
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