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The venerable New York investment firm Goldman Sachs has a long track record for producing political bigwigs. Treasury Secretary-nominee Henry M. Paulson Jr. has served as both chairman and CEO since 1999. The company boasts a return on equity of upwards of 40 percent.

Accepting the Republican nomination for a second term, President Bush outlines proposals addressing education, health care and other domestic issues, while attacking Sen. John Kerry. But the post-Sept. 11 world and war on terrorism dominate Bush's speech. Hear NPR's Mara Liasson.

Obama's supporter and former South Dakota Senator Tom Daschle was nominated to be secretary of the Department of Health and Human Services and director of the new White House Office of Health Reform.

In Karachi, temperatures surpassed 111 degrees Fahrenheit. The government has called on the military to set up makeshift medical camps.

Congress is expected to approve President Bush's $75-billion request to fund the war in Iraq, but the House and Senate must reconcile differences over the size of a proposed tax cut. The House passed the president's package, worth $726 billion over 10 years. But the war's growing price tag makes the Senate reluctant to sign off on the entire amount. NPR's David Welna reports.

Tens of thousands of Muslims begin a three-day march to mourn Ayatollah Mohammed Baqer al-Hakim, a revered Iraqi Shiite cleric killed by a car-bomb attack Friday. Al-Hakim, a long-time opponent of Saddam Hussein, was one of more than 100 people killed in the bombing of the Imam Ali Mosque in Najaf. Hear NPR's Ivan Watson.

Sonia Gandhi, heir to India's Nehru-Gandhi dynasty, gives up her chance to become prime minister, reportedly to protect her Congress Party's new government from attacks over her Italian birth. Manmohan Singh, architect of the country's financial reforms, is now seen as the favorite to become prime minister. NPR's Philip Reeves reports.

Just a few weeks ago, pollster Bill McInturff characterized the high negative ratings for Congress and the president as "ripples that will take a long time to resolve." Now, with new polling that suggests even deeper voter frustration, he says the political climate is even worse than before.

Philip Banks III was set to become Commissioner William Bratton's deputy. The reasons for his abrupt resignation are not clear.

Senate Democratic leader Harry Reid is not seeking re-election in 2016, but he is leaving no room for a leadership fight. He's throwing his support to his top lieutenant and message maestro.