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The Federal Reserve has taken a bold step to infuse Wall Street investment banks with cash, cutting its emergency lending rate to banks by a quarter-point. It also approved the sale of investment bank Bear Stearns to rival JP Morgan Chase for what can only be described as a rock-bottom price.

The Federal Reserve swooped in quickly to prevent Wall Street titan Bear Stearns from going bust and triggering a panic on Wall Street. It's not a bailout in the sense of a taxpayer rescue of a corporation. But it is part of a more activist approach to the credit crisis by both the Fed and the Bush administration's economic team.

Iranians are voting Friday in a parliamentary election with limited choices. Many pro-reform politicians were barred from running as candidates. Conservatives are split over the policies of President Mahmoud Ahmadinejad.

Analysts on Wall Street fear that another big investment bank could be teetering on the edge of disaster. Investors this week will watch closely the earnings of major banks and look for any signs that aggressive moves by the Federal Reserve are bringing stability back to credit markets.

The 22-year-old Dutch model will be the second openly trans woman to participate in a Miss Universe pageant.

History is being made with the shocking resignation of New York Gov. Eliot Spitzer following a prostitution scandal. Lt. Gov. David Paterson will become New the state's first African-American governor. Former New York City Mayor David Dinkins and State Senator Malcolm Smith discuss Paterson's career.

In an NPR interview, the Dalai Lama renewed his call for "meaningful" autonomy for Tibet within China and said China, "whether intentionally or unintentionally," is carrying out "cultural genocide" in Tibet.

Pope Benedict is visiting the United States for the first time as the leader of the Roman Catholic Church. R. Scott Appleby, a professor of religious history at the University of Notre Dame, says the pope's message to America's "Cafeteria Catholics" will likely be a positive one, rather than focusing on differences with the Vatican.

Israel Wednesday again closed the border crossings into the Gaza Strip in retaliation for rocket attacks from Gaza into the southern city of Sderot. Hamas called the move a violation of a truce, but urged Palestinian factions to hold their fire.

The Supreme Court is wrapping up its term, which means blockbuster decisions coming down all at the same time. The justices issued two major rulings early Wednesday. They ruled against the death penalty for people convicted of child rape. And they reduced punitive damages against Exxon for the Valdez oil spill.