CNN 2008-10-10

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Hi everyone, I'm Asieh Namdar at the CNN Center in Atlanta. Here's a look at what's happening NOW IN THE NEWS.

The Treasury¹ Department may use some of the massive Wall Street bailout to buy part of your bank. A department official says the government may pump capital into banks in exchange for partial ownership. The British government launched a partial bank-nationalization earlier this week.

European storks² ended the Dow down, the day down rather between one and a half and two and a half percent. It appears  the mid-day rally on the governments’ efforts to support banks has run out of steam. Trading in Asia was mixed as investor-enthusiasm of the global rate cut was tempered.

AIG is getting another massive government loan. The Federal Reserve agreed to let  the insurance giant borrow nearly 38 billion dollars. Now that's on top of the 85-billion-dollar bailout it got last month. AIG says it will use the money as an on an as needed basis. Last week executives said they would sell off some business units to repay the debts.

A powerful blast targeted an anti-terror police facility in Pakistan. A suicide bomber³ wounded over a dozen people in the capital Islamabad by collapsing⁴ the front of the building. In a separate attack, 10 people were killed including a number of children in a roadside bombing near the border with Afghanistan.

The US National Debt Clock ran into a problem as it hit a milestone⁵ 10 trillion dollars. The billboard⁶ with only 14 slots had run out of zeros. Its operations quickly replaced the dollar sign with a one, all is well for now.

And those are the headlines this hour. Stay with CNN for more on these stories and the other news of the day.