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Show flp iip tip rt- if r Page 2 *r Celebs&People Today'slssue Today is Friday, Sept. 26, 2008. Today's issue of The Utah Statesman is published especially for Rachel Higbee, sophomore majoring in early childhood education from Texas. ClarifyCorrect The policy of The Utah Statesman is to correct any error made as soon as possible. If you find something you would like clarified or find unfair, please contact the editor at 797-1762 or TSC 105. /Briefs JPMorgan to buy WaMu deposits, branches SENATE BANKING COMMITTEE CHAIRMAN SEN. CHRIS DODD, D-Conn., center, speaks during a news conference with, from left, Sen. Bob Corker, R-Tenn., Sen. Charles Schumer, D-N.Y., Sen. Robert Bennett, R-Utah, Sen. Judd Gregg, R-N.H., and Sen. Jack Reed, D-R.l., following a meeting on the market turmoil on Capitol Hill in Washington, Thursday. AP photo Wall Street bailout deal breaks down WASHINGTON (AP)- JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.'s banking operations Thursday after federal regulators seized the ailing thrift, the company's largest. The deal marks the second time in six WASHINGTON (AP) - Urgent months that JPMorgan Chase has taken over a financial institution crippled by bad mort- efforts to lash together a $700 billion rescue plan for the national gage bets. economy appeared to be stalling The deal will cost JPMorgan Chase $1.9 Thursday night, hours after key billion. The Federal Deposit Insurance lawmakers had declared they had Corp., which insures bank deposits, said it reached a deal. would not have to dip into the insurance Weary congressional negofund as a result of the seizure. tiators hurried back to work, The Seattle-based thrift has roughly $310 joined by Treasury Secretary billion in assets and was searching for a Henry Paulson in an effort to lifeline after piling up billions of dollars in revive or rework the proposal losses due to failed mortgages. that President Bush said must be quickly approved by Congress to stave off economic disaster. Congressional leaders said Federal Reserve Chairman Ben Bernanke might come to Capitol Hill, too, if SALT LAKE CITY (AP) - A dozen Mormon missionaries are again taking off enough progress was made. After six days of intensive talks their trademark white shirts for a calendar on the unprecedented package that seeks to strip away stereotypes about proposed by the Bush administratheir church. tion, with Wall Street tottering The 2009 version of the Men on and presidential politics intruding Mission calendar was released Thursday six weeks before the election, there - two months after its creator was excomwas more confusion than clarity. municated by leaders of The Church of Jesus Christ of Latter-day Saints for proThe day's earlier apparent ducing this year's calendar. breakthrough, announced with "I know they did what they thought was fanfare at midday, was followed by a White House summit bringing right," Chad Hardy said. together President Bush, presidenIn the pictures the 12 men pose shirttial contenders John McCain and less in black suit slacks. Barack Obama, and top congresAt least one model from the 2008 edition was asked to explain his involvement, sional leaders. But that meeting, aimed at showing unity in resolvbut no church disciplinary action was ing a national financial crisis, taken. broke up with conflicts in plain view. Inside the session, House Republican leader John Boehner expressed misgivings about the LITTLE ROCK, Ark. (AP) - The FBI says emerging plan and McCain would evangelist Tony Alamo has been arrested not commit to supporting it, said in Arizona on suspicion of transporting people from both parties who were minors across state lines for sexual purbriefed on the exchange. They poses. spoke on condition of anonymity FBI spokesman Steve Frazier says because the session was private. Alamo was staying at a motel in Flagstaff The earlier agreement by when agents arrested him Thursday. key members of Congress from Some critics call Alamo's ministry a both parties - but not top leadcult. ers - would have given the Bush Shirtless missionary calendar back for 2009 Evangelist Alamo arrested in child sex administration just a fraction of the money it wanted up front, subjecting half the $700 billion total to a congressional veto. But conservatives were still in revolt, balking at the astonishing price tag of the proposal and the hand of government that it would place on private markets. Sen. Richard Shelby of Alabama, the top Republican on the Senate Banking Committee, emerged from the White House meeting to say the announced agreement "is obviously no agreement." One group of House GOP lawmakers circulated an alternative that would put much less focus on a government takeover of failing institutions' sour assets. This proposal would have the government provide insurance to companies that agree to hold frozen assets, rather than have the U.S. purchase the assets. Rep Eric Cantor, R-Va., said the idea would be to remove the burden of the bailout from taxpayers and place it, over time, on Wall Street instead. The price tag of the administration's plan to bail out tottering financial institutions - and the federal intrusion into private business matters - have been major sticking points for many Republican lawmakers. There is wide agreement the U.S. economy is in peril, with financial institutions going under or near the edge and recession looming along with the resulting layoffs and increased home foreclosures. There had been hopes for broad agreement, too, on a prescription by now, with a confident White House announcement by the president, McCain, Obama and congressional leaders. But the best Senate Republican leader Mitch McConnell would say afterward was, "It's clear that more progress is needed and we must continue to work together quickly to protect our economy." Democrat Obama and Republican McCain, who have both sought to distance themselves from the unpopular Bush, sat down with the president at the White House for an hourlong afternoon session that was striking in this brutally partisan season - but also, according to one participant, "a full-throated discussion." By also including Congress' Democratic and Republican leaders, the meeting gathered nearly all Washington's political power structure at one long table in a small West Wing room. "All of us around the table ... know we've got to get something done as quickly as possible," Bush told reporters, brought in for only the start of the meeting. Obama and McCain were at distant ends of the oval table, not even in each other's sight lines. Bush, playing host in the middle, was flanked by Congress' two Democratic leaders, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid. Under the accord announced hours earlier among key lawmakers, the Treasury secretary would get $250 billion immediately and could have an additional $100 billion if he certified it was needed, an approach designed to give lawmakers a stronger hand in controlling the unprecedented rescue. The government would take equity in companies helped by the bailout and put rules in place to limit excessive compensation of their executives, according to a draft of the outline obtained by The Associated Press. DATE NIGHT SPECIAL *. BUY ONE PASS GET 2ND FOR CACHE VALLEY'S ORIGINAL CORN MAZE: :;*» NEW YORK (AP) - Regis Philbin has lost the "Best Regis" award yet again. And this time, it's personal: The winner is Philbin's infant grandson, William Xavier. The 7-monthold bested Philbin for the honor at the announcement Thursday of the PHILBIN sixth annual Relly Awards - Philbin's version of the Emmys. "He is cute, but does he REALLY deserve the Relly?" spouted the 77-yearold talk-show host, a loser for the fifth straight year, on "Live With Regis and Kelly." The "Best Regis" category was introduced in 2004. NEW YORK (AP) - The revelation that Clay Aiken is gay hasn't fazed Simon Cowell. The "American Idol" judge reacted in typically sarcastic form, telling the entertainment news show "Extra": "Wow. That's a shock. It's like being told Santa Claus isn't real. Unbelievable." Getting serious, Cowell said: "Good for him. If he said it, it's the right thing for him.... 1 don't think anyone cares. Let s face it. It's 2008. You know. Who cares?" NEW YORK (AP) - Magician-daredevil David Blaine says he's unhappy with how he ended his latest stunt: hanging upside-down without a net high over Central Park for 60 hours. The 35-year-old endurance artist, who completed the stunt Wednesday night, expressed his disappointment in an appearance Thursday morning on "Live With Regis and Kelly." Blaine said his grand finale of diving from a platform 44 feet to the ground while attached to a harness didn't go according to plan. LateNiteHumor From David Letterman Show Sept. 24,2008 Top ten questions people are asking about theJohn McCain campaign 10. "1 just contributed to your campaign - how do I get a refund?" 9 . "It's Sarah Palin - does this mean I'm Pars'dent?" 8 ."Can't you solve this by selling some of your homes?" 7. "Hi, this is Clay Aiken. Is McCain single?" 6. "Do you still think the fundamentals of our economy are strong, genius?" 5. "Are you doing all this just to get out of going on Letterman?" 4. "What would Matlock do?" 3. "Hillary here - my schedule is free Friday night." 2 . "Is this just an excuse to catch up on napping?" 1. 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