The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy.

The Federal Reserve, invoking Depression-era emergency powers, will buy commercial paper, a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls.

The Fed's action initially helped lift investors' spirits, although concerns about the economy dampened their enthusiasm. The Dow Jones industrials rose 45 points in morning trading, a day after a huge selloff put the Dow below 10,000 for the first time in four years.

Source: http://www.boston.com/business/articles/2008/10/07/pressure_grows_on_us_to_take_bold_steps_on_economy/

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The United States will continue its troop presence in Kosovo until at least late next year, Defense Secretary Robert Gates said just before he arrived here Tuesday, reaffirming U.S. support for the newly declared nation in the face of stern opposition from Russia.

Source: http://news.yahoo.com/s/ap/20081007/ap_on_re_eu/eu_gates_kosovo;_ylt=AtkYRpYrDQKcm2aDPCNJJI6s0NUE

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The Student Government Association (SGA) and the Resident Student Association (RSA) recently passed legislation moving forward the university's first on-campus Greek life living learning community (LLC). The LLC would be located in Parcel 18. The next step is for Philomena Mantella, senior vice president for enrollment and student life, and members of the senior leadership team to give feedback and issue the approval or denial of the proposal, said Ryan Fox, SGA vice president for student services.

Source: http://media.www.huntington-news.com/media/storage/paper600/news/2008/10/06/News/Groups.Pass.Legislation.To.Give.Greeks.Own.Home-3471343.shtml