A congressional committee Monday grilled Richard Fuld Jr., chief executive officer of Lehman Brothers Inc., in his first public appearance since the bank fell apart in September in the largest bankruptcy in history.

The subject of "bankruptcy" is back in the news. Individuals, families, and companies are embracing again the protections that going bankrupt provide-namely, the ability to walk away from one's financial obligations. What causes a person or an organization to go bankrupt? What should Christians think about such a notion? Are there things we can do in our own financial planning to help avoid such a drastic measure from taking place in our own lives?

WASHINGTON-With the world watching Friday, the U.S. House of Representatives passed by a wide margin, 263-171, the $700 billion economic rescue package. The question of the bill's success still hung in the air minutes before the vote took place, though House leaders had expressed confidence about its passage.

"We have been criticized for not deciding affirmatively," said Majority Leader Steny Hoyer. "What we did decide is that [the] initial failure should not stand."

Desperate to avoid another market-crushing defeat, leaders in the House of Representatives won key converts Thursday to the $700 billion financial industry bailout bill on the eve of a make-or-break second vote, after the Senate sent the legislation back with its approval and some pork tucked in.

President Bush and congressional leaders lobbied furiously for the dozen or so supporters they'd need to reverse Monday's stunning defeat of the bill and approve a massive rescue plan designed to stave off national economic disaster.

WASHINGTON-The Senate voted to approve the sweetened economic rescue package Wednesday night in a 74-25 vote, sending the $700 billion legislation to the House of Representatives. House Democratic leaders said they believed the bill will pass in its new form.

"We rejected the easy and chose the right," said Senate Majority Leader Harry Reid Wednesday night.

WASHINGTON-Presidential candidates John McCain and Barack Obama have put forth a new idea to bailout the bailout legislation. But the candidates are trying to avoid the term "bailout," opting instead for "economic rescue plan." In an atmosphere where stocks are plummeting and surging on news from Washington, word choice does matter.

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.