CNN 2008-10-07

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Hello, I'm Melissa Long here at the CNN center in Atlanta on this Monday, October 6th. Here is a look at some of the stories happening NOW IN THE NEWS.

President Bush is talking about the economy and defending the federal bailout. The President says although many aren't pleased with the 700-billion-dollar bailout that he signed into law after it was approved by Congress, it is a needed step. "And the answer is because had we not done anything, people like the folks behind me would be a lot worse-off. We' ll make sure as time goes on, this doesn't happen again, in the meantime we gotta solve the problem. "

 For the pain on Wall Street today continues as the Dow Jones Industrial Average plunged¹ below ten thousand. That is a sight not seen for more than four years. Europe and Asia's markets also posting declines.

No decision yet for the man convicted of murdering a Georgia police officer nearly twenty years ago. Earlier today, the Supreme² Court said it needs more time to review the controversial Troy Davis murder case. Last month, the court issued a stay of execution, and this case has called international appeal with celebrities³, lawmakers and those opposed to the death penalty, even the Pope, asking for a new trial. Since the trial several witnesses for the prosecution⁴ have recanted on their testimony⁵. Now Davis says he did not kill the police officer, while the prosecution says it is confident, that his conviction will stand.

In California, the driver behind the wheel of a chartered bus crash that killed eight people is in custody⁶ for allegedly being under the influence. The California highway patrol believe the driver may have been on either prescription⁷ or non-prescription drugs when he tumbled into the ditch when that bus that he was driving tumbled into the ditch. The bus was on its way to a casino when it crashed killing⁸ those passengers and injuring a dozen more.

Last minute preparations in campaigning before Tuesday's big debate, Democratic Senator Barack Obama is in Asheville North Carolina. He campaigned there yesterday. Today, however his campaign says he is preparing ahead of tomorrow's debate. Republican Senator John McCain spent the weekend prepping as well. McCain has a campaign event scheduled today in Albuquerque, New Mexico. Tomorrow night's debate will be held at Belmont University in Nashville.

And those are some of the headlines making news at this hour. Do stay with CNN and CNN. com, for more on these stories or other news of the day.