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President Obama's pick for Treasury secretary, Timothy Geithner, began his confirmation hearing with an apology Wednesday. He told members of the Senate Finance Committee the tax questions that delayed his confirmation were the result of his own careless mistakes. But he added the mistakes were unintentional. The panel is expected to vote Thursday on his nomination.

The Senate is set to vote Thursday on whether to release the second half of the $700 billion financial rescue package. While most Democrats are on board to approve the funds, many Republicans say the bill lacks transparency and accountability. President-elect Barack Obama's economic team went to Capitol Hill Wednesday to try to win them over.

Retired Gen. Eric Shinseki, President-elect Barack Obama's pick to head the Department of Veteran Affairs, has promised to modernize the agency. Shinseki appeared Wednesday before the Senate Veterans Affairs Committee at his confirmation hearing.

The Labor Department said Friday the nation's unemployment rate rose to 9.7 percent in August, the highest since 1983. But the economy shed a net total of 216,000 jobs, the fewest monthly losses in a year.

A massive fire in the Angeles National Forest nearly doubled in size overnight, threatening 12,000 homes in the Los Angeles area. Gov. Arnold Schwarzenegger has issued emergency declarations for four counties.

Defense Secretary Robert Gates, who is on a short swing through the Middle East, was in Iraq on Tuesday. On his agenda: a visit to a command post in southern Iraq where U.S. troops serve in an advisory capacity; a meeting with Prime Minister Nouri al-Maliki and a visit to Kurdistan.

U.S. Attorney General Eric Holder called the recent beating death of a Chicago teen a "wake-up call" that would lead to action. Holder and Education Secretary Arne Duncan held a news conference with Chicago Mayor Richard Daley. The two Cabinet officials were sent by the White House to Chicago after the killing.

Democratic presidential hopeful Barack Obama has opted out of public financing. He has used social networking sites on the Internet, among other strategies, to raise record amounts of contributions. Obama's fundraising success could mean another failure for the public financing system. Anthony Corrado, a political scientist at Colby College, talks with Renee Montagne about the future of public financing.

The Senate is taking up the $700 billion plan to rescue Wall Street. Benton Ives, economics and finance reporter for the Congressional Quarterly, says the legislation is largely the same as the one the House rejected Monday, but with added tax breaks and an increase on the deposit insurance cap.

President Biden heads to a New York district where Republicans eked out a victory in 2022. It's part of a push to put pressure on vulnerable Republicans to lift the debt ceiling.