A new opinion in the United States gives the Democratic presidential candidate Barack Obama a 6 per cent lead over his Republican rival John McCain. 

The poll shows 49 per cent support Senator Obama compared with 43 per cent for Senator McCain. 

Derivatives traders were yesterday nervously picking their way through the wreckage of the Lehman Brothers bankruptcy in what was the biggest test to date of the unregulated $60 trillion (£35.4 trillion) credit default swaps market. 

Investors who had placed bets on Lehman's creditworthiness held an auction aimed at clarifying who owes what to whom after the investment bank went bust four weeks ago, and analysts believe that several hundreds of billions of dollars will change hands.

Until 3 pm on Thursday, it seemed as if the stock market might escape another dark day.

Then the selling hit — and hit and hit again, mimicking trading on Tuesday and Wednesday. What had been a moderately down day ended in a rout, with the Dow Jones industrial average closing down 679 points, or 7.3percent, leaving it below 9,000 for the first time in five years.

Banks are supposed to lend money, but they aren’t doing very much of it these days. That is not the only cause of the global recession that is unfolding, but it is hard to see how economies can begin to recover without functioning financial systems. 

The American government has responded by taking over more and more of the lending itself, while using indirect means to shore up the banking system. It has not worked.

It's painful to be a cartoonist. It's feast or famine. And I do not mean moneybux as most of us would be on the bread-line every Thursday...  

We do it for the glory and the squishy tomatoes thrown at us... No, really... I mean feast of material to lampoon. Sometimes we could be scouring the web or the papers for inspiration, but blah... Nothing. Dubya is laying low...  

Every few years, the world seems to face a new testing time. After Sept. 11, leaders had to figure out how to respond to Islamic extremism. Now we face another test. Today, leaders around the world have to figure out how to stabilize economies amid volatile global capital flows. 

Iranian women can drive cars but are not allowed to ride motorbikes. 

Iran has announced plans for a new car designed specially for women. 

Biden on Cheney's worst thing: 

I think he's done more harm than any other single elected official in memory in terms of shredding the constitution. You know - condoning torture. Pushing torture as a policy. This idea of a unitary executive. Meaning the Congress and the people have no power in a time of war.  

When the White House brought out its $700 billion rescue plan two weeks ago, its sheer size was meant to soothe the global financial system, restoring trust and confidence.

Prime Minister Kevin Rudd says the US package to bail out Wall Street is a step forward in easing the global financial crisis. 

The US House of Representatives passed the $US700 billion package overnight. 

It will be one of the world’s largest asset management firms with an impressive $700 billion war chest. Nothing short of the global economy depends on its success. 

And the Treasury Department has barely a month to get it up and running.

Myriad cultural historians have noted the American belief that success is a sign of God's favour.  

Over the past couple of decades, He has had a downright love-fest with the already-rich - so much so that the richest 400 Americans now have more money stashed away than the combined bottom 150 million Americans. Some $1.6 trillion. 

Concern about Palin's readiness to face Democrat Joe Biden has increased following a series of interviews in which the Alaska governor has been sometimes lost for words to answer a tough question. 

John McCain picked her as his running mate in August, energising conservative Republicans with her positions on abortion and gun rights and her background as a moose-hunting, deeply Christian mother of five from the northern frontier. 

"Working together, we are confident we will pass a responsible bill in the very near future," they said.

The House is not due to meet again until Thursday as many members have gone home for a Jewish holiday.

Bush Warning Over Bail-out Delay