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A total of $6.6 trillion in U.S. mortgages were wrapped into mortgage-backed securities, the financial instruments at the heart of the financial crisis--a sum that dwarfs the $700 billion approved by Congress for the financial industry bailout.

What is the definition of a financial institution under the Troubled Assets Relief Program (TARP), Treasury Secretary Henry Paulson was asked on Tuesday. He couldn't give a specific answer.

Violent sex offenders who are also illegal aliens in Virginia were identified, located, and deported thanks to a well-coordinated joint operation earlier this year involving both state and federal officials.

The United Nations on Tuesday will unveil a multi-million dollar ceiling decoration, paid for in part by the Spanish government's budget for overseas aid. At home, debate has erupted over what critics view as inappropriate use of development aid.

Economists in Michigan, the long-time home of the auto industry, say they don't support the proposed multi-billion dollar bailout of Big Three automakers Chrysler, GM and Ford.

Washington attorney Eric Holder is President-elect Barack Obama's top choice to be the next attorney general and aides have gone so far as to ask senators whether he would be confirmed, an Obama official and people close to the matter said Tuesday.

"Since unionized auto companies, state and local governments, and certain credit card companies are applying, I thought I should, as well," a tax reform advocate wrote to the Treasury Department.

Treasury Secretary Henry Paulson wants President-elect Barack Obama and the new Congress to give the federal government broad new authorities to take over any failing financial institution, not just banks, the Washington Post reported.

Sen. Mitch McConnell (R-Ky.), minority leader of the Senate, refused to answer questions about the proposed auto industry bailout at a photo op introducing the newest Republican members of the Senate.

Congressmen-elect who were visiting the Capitol for freshman orientation on Monday told CNSNews.com that they do not think a $25-billion bailout of the auto industry is a good idea.

Leaders in both parties support using federal dollars to help the beleaguered U.S. auto industry. But the Bush administration, concerned that allocating new monies could trigger a protracted political fight during a time of economic uncertainty, is calling on the Democrat-controlled Congress to allow auto companies to access money that is already available.