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1. Former Federal Reserve Chairman Alan Greenspan describes the current financial crisis as a once-in-a-century credit tsunami¹. And he warns it will get worse before it gets better. Greenspan also says the crisis has exposed flaws in his thinking and in the workings of a free-market system.

2. The economic news has some Americans on edge but the remain optimistic. An Associated Press-GFK poll found most expect the economy to generally be better and the stock market to be rising three months from now. But at the same time, many doubt unemployment will fall or home values will rise by then.

3. Fire crews put out a wildfire that broke out this morning in West Los Angeles. The 100-acre blaze threatened the Getty Center Museum which houses priceless art. No buildings burned and there were no injuries.

4. Politically themed costumes are all the rage this Halloween. Costume shops say a popular pick this year is the Sarah Palin look which includes a brunette wig², glasses and at this store, a "Miss Alaska" sash.

WORDS IN THE NEWS

1. on edge:

nervous, especially because you are expecting something unpleasant to happen.

2. be all the rage:

to be very popular or fashionable.

3. brunette: n.

A brunette is a white-skinned woman or girl with dark brown hair.

4. sash: n.

a long piece of cloth that you wear over one shoulder and across your chest