WASHINGTON -- The Federal Reserve is considering giving squeezed Wall Street firms more time to draw emergency loans directly from the central bank to help them overcome credit problems, chairman Ben Bernanke said Tuesday.

POWDER SPRINGS, Ga. -- Barack Obama on Tuesday proposed changing bankruptcy laws to "fast-track" the process for military families, help seniors keep their homes, and protect people recovering from natural disasters.

Stock markets in Asia and Europe headed sharply lower Tuesday on renewed concern that there is more bad news coming on the state of the mortgage and credit markets.

LONDON (Reuters) - Fresh credit fears swept global financial markets on Tuesday, pushing world stocks to their lowest levels since October 2006 as concerns intensified that the financial sector would have to raise more capital.

NEW YORK -- Stocks headed for a lower open Tuesday as investors, anxious about the nation's stumbling mortgage lenders, awaited a speech by Federal Reserve Chairman Ben Bernanke.

NEW YORK (Reuters) - Fannie Mae (FNM.N) and Freddie Mac (FRE.N) shares plunged to their lowest in nearly 16 years on Monday while costs to insure their debt against default rose on concern the two largest U.S. mortgage funders may need to raise vastly more capital amid larger-than-expected losses.

WASHINGTON -- A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support, inching toward passage despite Republican objections.

DENVER -- Barack Obama and John McCain agree on this much: The economy is staggering under the Bush administration, and Americans are hurting. But who's to blame and how best to fix it?

WASHINGTON -- If veteran Connecticut Sen. Christopher Dodd's trademark jaunty smile seems a bit forced these days, it's no surprise.