The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. Click on the headlines for more.
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CNN: Asian stocks slump after U.S. credit downgrade
Key Asian stock exchanges lost ground Monday as world markets reacted to last week's downgrade of the U.S. credit rating by Standard and Poor. Tokyo's Nikkei index closed down 202 points, or 2.2%.
CNNMoney: Tim Geithner tells Obama: I'll stay in job
Treasury Secretary Tim Geithner is staying put, the Obama administration announced Sunday. "Secretary Geithner has let the president know that he plans to stay on in his position at Treasury," a Treasury spokeswoman said in a statement. Geithner plans to stay at least into the fall of 2012, an administration official told CNN.
CNNMoney: Rating downgrade: Did S&P get it right?
A credit rating is an informed opinion. Nothing more. Nothing less. That helps explain why one major credit rating agency - Standard & Poor's - has downgraded the United States, while another - Moody's - has chosen to affirm its credit rating with caveats.
CNN: Afghan crash highlights critical, dangerous role of special forces
The shooting down of a Chinook helicopter in central Afghanistan with the loss of 38 lives - most of them U.S. Navy SEALs - highlights two crucial aspects of the conflict in Afghanistan, as U.S. forces begin to draw down and Afghan security forces start taking the lead.
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CNN: Video shows white teens driving over, killing black man, says DA
On a recent Sunday morning just before dawn, two carloads of white teenagers drove to Jackson, Mississippi, on what the county district attorney says was a mission of hate: to find and hurt a black person. In a parking lot on the western side of town they found their victim.
Washington Post: U.S. to grant waivers for No Child Left Behind
With a growing number of states rebelling against the No Child Left Behind law and stalled efforts in Congress to reform it, the Obama administration says it will grant waivers to liberate states from a law that it considers dysfunctional.
Austin American-Statesman: Officers who responded to 2009 Fort Hood shootings, hailed as heroes, losing their jobs
The two Fort Hood police officers celebrated as heroes for responding first to the 2009 shooting massacre at this Army post were told recently they would lose their jobs as part of broader military budget cuts.
CNN: 'I wouldn't wish this on anyone,' Navy SEAL widow says
Navy SEAL Aaron Vaughn "wouldn't want to leave this Earth any other way than how he did," his wife told CNN, a day after she learned her husband was one of 30 U.S. service members killed in a helicopter crash Saturday in Afghanistan. "He loved his job," Kimberly Vaughn said.
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CNN: 100 new arrests as 'copy cat' violence plague London
Police in London arrested more than 100 people Sunday night and early Monday in connection with violence that has afflicted London neighborhoods following riots in the city's Tottenham enclave over the weekend. The arrests are in addition to 61 others made Saturday night and Sunday morning.
CNN: Competing claims over key town near Tripoli
The Libyan government said Sunday it had retaken the key town of Bir al-Ghanam after losing it briefly to rebel forces, but a rebel commander said his forces were holding onto the town.
CNN: 'No justification' for Syrian clampdown, Saudi king says
Saudi Arabia's King Abdullah condemned the crackdown on anti-government protesters in Syria on Sunday, saying there is "no justification for the bloodshed." In a written statement released via Saudi state television Sunday night, Abdullah said the kingdom had recalled its ambassador from Damascus for consultations.
CNN: Netanyahu: Israel creating new financial team after massive protests
Israeli Prime Minister Benjamin Netanyahu announced details about a new financial team Sunday, a day after more than a quarter of a million demonstrators took to the streets protesting the rising cost of living in the Jewish state.
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CNNMoney: Stocks after the downgrade
Standard & Poor's decision late Friday to downgrade the United States' credit rating sparked fear and many questions: Would stocks tank, first in Asia Sunday night and then in New York Monday morning? Would interest rates on U.S. Treasuries spike higher?
CNN: Strike hits Verizon as 45,000 walk out
About 45,000 unionized workers at telecommunications giant Verizon walked off the job Sunday after contract talks stalled over the weekend, the company and union leaders said. Contracts with the Communication Workers of America and the International Brotherhood of Electrical Workers from Virginia to Massachusetts expired at midnight Saturday.
New York Times: A.I.G. to Sue Bank of America Over Mortgage Bonds
The American International Group is planning to sue Bank of America over hundreds of mortgage-backed securities, adding to the surge of investors seeking compensation for the troubled mortgages that led to the financial crisis.
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GOP's Bickering is the main reason to this nation's mess....listen, true....get rid of all these GOP Tea Party bastards from USA!!!!Be courageous, start living within your means, Tax rich who make more than 250k or more, restrict Visa procedures, Immigration to be strict, Watch all these India guys, they are cheating on these., listen, true... Citizenship needs to be restricted, just because kids are born, do not give citizenship to parents, etc,
S&P said that even expiring the bush tax cuts that they wouldve downgraded the u.s. debt. It is the spending that needs to be cut. The tea party is right.