Emily Belz

Emily reports for WORLD Magazine from New York City. Follow Emily on Twitter @emlybelz.

Associated Press/Photo by Susan Walsh

"Quickly and cleanly"

Money | The Bush administration presses the Senate on the urgency for its $700 billion financial bailout plan
by Emily Belz
Posted 9/23/08, 12:00 am

WASHINGTON, D.C.-Before a committee of senators from both parties, Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke tried to explain how the financial markets toppled and why the $700 billion bailout plan would steady them.

"We need to enact this bill quickly and cleanly," said Paulson at the Senate Banking Committee hearing Tuesday morning, reiterating President Bush's call for immediate action.

But before he spoke, senators from both sides of the aisle expressed skepticism.

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Associated Press/Photo by Stephan Savoia

Class reunion

Campaign 2008 | John McCain took time out from campaigning to join his Naval Academy classmates for their 50th reunion
by Emily Belz
Posted 9/20/08, 12:00 am

ANNAPOLIS, MD.-Cruising in an eight-car motorcade, Sen. John McCain rolled into Annapolis, Md., Saturday for the Navy-Rutgers football game. His Secret Service agents fanned out as the Republican presidential candidate said hello to his old Navy buddies. This visit, however, wasn't scheduled as a campaign stop, officially-he was there to tailgate.

And to join his Naval Academy classmates for their 50th reunion.

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Associated Press/Photo by Kathy Willens

Ballpark figures

Money | Did a public-funding deal for construction of the new Yankee Stadium violate federal tax regulations?
by Emily Belz
Posted 9/19/08, 12:00 am

WASHINGTON, D.C.-The new Yankee Stadium going up in New York City is a $1.3 billion project, funded in part by public money, but not just from the people of New York. Federal taxpayers, thanks to the Internal Revenue Service providing tax exemptions, are indirectly tossing some dimes in the hat through lost property-tax revenue.

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