WASHINGTON -- The Federal Reserve's emergency loans to banks climbed to the highest level on record even as Wall Street investment companies scaled back their borrowing.

WASHINGTON -- Wall Street investment companies are reducing their borrowing from the Federal Reserve's emergency lending program.

WASHINGTON -- Wall Street investment companies are borrowing from the Federal Reserve's emergency lending program at a fairly steady pace.

WASHINGTON -- Wall Street investment companies have reduced borrowing from the Federal Reserve's emergency lending program, a sign that credit problems may be easing a bit.

WASHINGTON -- Big Wall Street investment companies are pulling back on their borrowing from the Federal Reserve's emergency lending program.

WASHINGTON -- Big Wall Street investment companies are pulling back on their borrowing from the Federal Reserve's emergency lending program, a sign that credit conditions may be improving a bit.

WASHINGTON -- Big Wall Street investment companies are reducing their borrowing from the Federal Reserve's emergency lending program, a sign that credit problems may be easing.

WASHINGTON -- Big Wall Street investment companies are pulling back slightly on their borrowing from the Federal Reserve's emergency lending program.

WASHINGTON -- Federal Reserve Chairman Ben Bernanke and the Bush administration on Thursday defended the decision to rescue Bear Stearns amid questions by lawmakers about why the government was helping Wall Street investment houses but not people on Main Street.

WASHINGTON -- Federal Reserve Chairman Ben Bernanke and the Bush administration on Thursday defended the decision to rescue Bear Stearns amid questions by lawmakers about why the government was helping Wall Street investment houses but not people on Main Street.