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The
Nation
May 08-10, 2009
Economy
Sheds 539,000 Jobs in April
U.S.
employers cut a smaller-than-expected 539,000 jobs in April, the smallest amount
since October, according to government data on Friday that hinted at some
improvement in the labor market and the recession-hit economy. http://uk.reuters.com/article/companyNewsMolt/idUKTRE5472KY20090508
Fannie
Mae to Tap $19 Billion in Treasury Capital
Fannie Mae,
operating under a federal conservatorship since September, asked the U.S.
Treasury for a $19 billion capital investment as a seventh straight quarterly
loss drove the mortgage-finance company’s net worth below zero. http://www.bloomberg.com/apps/news?pid=20601087&sid=aumIiOBNig7A&refer=home
Banks
Rush to Raise Capital
Wells
Fargo & Co. and Morgan
Stanley sold a total of $11 billion in stock Friday morning, each boosting
the size of offerings meant to plug capital holes identified by the government's
stress tests. http://online.wsj.com/article/SB124178648015600629.html
U.S.
Says Ailing Banks Need $75 Billion
After
conducting stress tests, regulators told the 19 largest U.S. banks that they
must raise $75 billion in extra capital, a more upbeat assessment than the
industry initially
feared. http://www.nytimes.com/2009/05/08/business/08stress.html
Ten
U.S. Banks Fail 'Stress Tests'
Ten of
America's largest 19 banks need a combined $74.6bn (£50bn) of extra funds to
boost their cash reserves. http://news.bbc.co.uk/2/hi/business/8039096.stm
Ready
or Not, Katrina Victims Lose Temporary Housing
A
deadline ending temporary housing for hurricane victims is an example of
programs that seem to be in conflict. http://www.nytimes.com/2009/05/08/us/08trailer.html
Souter's
Exit Opens Door for a More Influential Justice
President
Obama may want his replacement for Justice David H. Souter to be more willing to
set the agenda. http://www.nytimes.com/2009/05/08/us/08court.html
Elite
Unit's Problems Pose Test for Attorney General
After
botching the case against Senator Ted Stevens, the public integrity unit, once
the pride of the Justice Department, is badly in need of rehabilitation, current
and former
officials said. http://www.nytimes.com/2009/05/08/us/politics/08justice.html
Obama
Unveils New Budget Cuts
The
nearly $17 billion in additional budget cuts for the coming fiscal year to
underscore what President Obama called an "ongoing" effort to find savings.
http://www.nytimes.com/2009/05/08/us/politics/08budget.html
Pace
of U.S. Job Losses is Slowing
The
U.S. economy lost 539,000 jobs in April, fewer than in previous months, in a
sign that the U.S. jobs market might be beginning to improve.
http://news.bbc.co.uk/2/hi/business/8040276.stm
Dem
Centrists Press Pelosi to Shelve Climate Bill
Democratic
centrists are pressing House Speaker Nancy Pelosi to set aside a flagging
climate change bill to focus on what they think is a more achievable goal:
overhauling the nation’s healthcare system. http://thehill.com/leading-the-news/dem-centrists-press-pelosi--to-shelve-climate-change-bill-2009-05-06.html
California
Could Be Broke by July, State Official Warns
Despite
the budget fix enacted in February, the state is on track to come up $23 billion
short of what it needs to get through the year, the Legislature's chief budget
analyst says. http://www.latimes.com/news/la-me-california-budget-crisis8-2009may08,0,5218896.story?track=ntothtml
Obama
Budget Allocates $130 Billion for 2 Wars
President
Barack Obama's proposed defense budget includes $130 billion for the nation's
two wars, a figure that may not be enough. And his Democratic allies in Congress
are threatening to set conditions that must be met before that money is handed
out. http://www.google.com/hostednews/ap/article/ALeqM5jJEu96nl9eJY5OXXJX22C26wGDfQD981NCQ01
Justice
Dept. Not Expected to Charge Bush Lawyers Over
Torture
An
internal Justice Department inquiry has concluded that Bush administration
lawyers committed serious lapses of judgment in writing secret memorandums
authorizing brutal interrogations
but that they should not be prosecuted, according to government officials
briefed on its findings. The report by the Office of Professional
Responsibility, an internal ethics unit within the Justice Department, is also
likely to ask state bar associations to consider possible disciplinary action,
which could include reprimands or even disbarment, for some of the lawyers
involved in writing the legal opinions, the officials said. http://www.nytimes.com/2009/05/06/us/politics/06inquire.html
Rising
Number of Renters Could Spell Trouble for Consumer Price
Index
Rising
rental costs and falling home prices are not what the economists want
these days. http://www.marketwatch.com/news/story/homes-more-affordable-rents-rising/story.aspx?guid={1C5ACE3A-CD16-41DD-92E8-F353094C22C5}&dist=TNMostMailed
May 07, 2009
Report:
FBI Mishandles Terror Watch List
The
FBI can’t figure out the right way to add or remove suspected terrorists from
the country’s unified terrorist watch list, subjecting citizens to unjustified
scrutiny from government officials and possibly putting the country at risk, the
Justice Department’s internal watchdog said Wednesday in a new report.
http://www.wired.com/threatlevel/2009/05/fbi-gets-f-in-handling-terror-watch-list-ig-finds/
Justice
Department Drops Case Against Conscientious Objector
Watada
The
Department of Justice has dropped its case against 1st Lt. Ehren Watada, a war
resister who refused Iraq deployment in June 2006 and denounced President George
W. Bush’s decision to invade as illegal and immoral. http://rawstory.com/08/news/2009/05/06/justice-dept-drops-case-against-war-resistor-watada/
Dems
Nix Money to Close Gitmo, Say Plan Needed First
House
Democrats told the president Monday he won't be getting money to close the
military detention facility at Guantanamo Bay, Cuba, until he has a "concrete
program" for shutting it down and moving its prisoners.
http://www.cnn.com/2009/POLITICS/05/04/guantanamo.closure/
As
Stress Tests Are Revealed, Markets Sense a Turning Point
The
results of the bank stress tests have been trickling out for days, from
Washington and from Wall Street, and the leaks seem to confirm what many bankers
feel in their bones: despite all those bailouts, some of the nation’s largest
banks still need more money. http://www.nytimes.com/2009/05/07/business/07bank.html
Health
Insurers Try to Scuttle Obama Plan
In an
effort to scuttle a major part of President Obama's plan to reform the nation's health-care
system, private health insurers are taking the unusual step of asking
Congress to increase regulation of their industry. http://abcnews.go.com/Politics/Business/story?id=7511896&page=1
Obama
Budget Would Cut or End 121 Government Programs
President
Barack Obama plans to unveil Thursday a fiscal 2010 budget full of details on
his plans to save as much as $17 billion by cutting — and in some cases ending —
121 government programs. http://www.mcclatchydc.com/homepage/story/67639.html
Stress
Test Sneak Peek: Big Banks Still Threaten Economy
The
banking sector remains a threat to the broader economy, judging by leaks of
results from stress tests on the nation's 19 largest banks ahead of Thursday's
official release by federal regulators. http://www.mcclatchydc.com/economy/story/67657.html
Deal
Reached to Keep Boston Globe in Print
If
approved by workers, a package of wage, benefit and job security concessions
will head off the threatened closing of the largest newspaper in Boston.
http://www.nytimes.com/2009/05/07/business/media/07paper.html
More
States Start Pension Inquiries
Andrew
M. Cuomo's investigation into the state comptroller's office has expanded into a
broad look at more than 100 firms by attorneys general in dozens of other
states.
http://www.nytimes.com/2009/05/07/business/07pension.html
May 06, 2009
U.S.
Says Bank of America Needs $33.9 Billion Cushion
The
government has told Bank of America it will need to raise $33.9 billion in
capital to withstand any worsening of the economic downturn, according to an
executive at the bank. http://www.nytimes.com/2009/05/06/business/06stress.html
U.S.
May Set a Debt Test for Banks
The
Treasury is expected to announce as early as Wednesday that banks must show that
they can issue debt without government subsidies before they are allowed to
exit
TARP. http://www.nytimes.com/2009/05/06/business/06bank.html
Tent
‘Cities’ Continue to Sprout
The
unemployed Detroit autoworker moved to Florida last year hoping he'd have better
luck finding a job. He didn't, and he spent three months sleeping on sidewalks
before landing in a tent city in Pinellas County, north of St. Petersburg, on
Feb. 26.
http://www.usatoday.com/news/nation/2009-05-04-new-homeless_N.htm
Bernanke
Sees Hopeful Signs but No Quick Recovery
The
Fed chairman said that the economy appeared to be stabilizing on many fronts but
cautioned that a recovery was months away and that "sizable job losses" would
continue.
http://www.nytimes.com/2009/05/06/business/economy/06fed.html
As
Investors Circle Ailing Banks, Fed Sets Limits
Seeing
opportunity in the nation's struggling banking system, private equity firms are
lobbying to change federal rules that limit their control.
http://www.nytimes.com/2009/05/06/business/06equity.html
Plan
to Sell Chrysler to Fiat Clears Bar
The
judge overseeing the bankruptcy of Chrysler approved the bidding procedures
advocated by the company and backed by the White House.
http://www.nytimes.com/2009/05/06/business/06auto.html
Obama
Boosting Taxes on Multinational Corporations
In a
move sure to send shivers down the spines of executives of multinational
corporations, President Obama announced plans Monday to close tax havens and
eliminate some tax incentives for the companies that will essentially amount to
billions of dollars in new taxes. http://thehill.com/leading-the-news/obama-boosting-taxes-on-multinational-corporations-2009-05-04.html
Disney
Reports 46% Drop in Profit
Walt
Disney Co. reported a 46% drop in net income for its second quarter, blaming
disappointing results from its movie studio and a weak global economy, which
took a toll on the entertainment giant's tourism-dependent theme park and
advertising-reliant broadcast television businesses. http://www.latimes.com/business/la-fi-ct-disney6-2009may06,0,1131343.story
N.Y.
Times to File Notice It Will Close Boston Globe
The
New York Times Co. said last night that it is notifying federal authorities of
its plans to shut down the Boston Globe, raising the possibility that New
England's most storied newspaper could cease to exist within weeks. http://www.washingtonpost.com/wp-dyn/content/article/2009/05/03/AR2009050300269_pf.html
Bush
Officials Try to Alter Ethics Report
Former
Bush administration officials have launched a behind-the-scenes campaign to urge
Justice Department leaders to soften an ethics report criticizing lawyers who
blessed harsh detainee interrogation tactics, according to two sources familiar
with the efforts. http://www.washingtonpost.com/wp-dyn/content/article/2009/05/05/AR2009050502219.html
Small,
Seasoned Group Helps Obama Manage Supreme Court
Selection
President
Obama's first selection of a Supreme Court justice is being managed by a small
group of senior advisers, and the process will last at least into next week
before producing a candidate who the administration hopes will inject real-world
experience into the nation's highest court. http://www.washingtonpost.com/wp-dyn/content/article/2009/05/05/AR2009050503633.html
Sacramento
Sees Huge Rise in Vacant Houses, Apartments
Nearly
four years into California's housing downturn, close to 24,000 Sacramento-area
homes and apartments are vacant, a number that climbed 40 percent in the past
year, according to a Bee analysis of federal data. http://www.mcclatchydc.com/economy/story/67554.html
22%
of U.S. Homeowners Face Negative Equity
A
growing number of U.S. homeowners owe more than their properties are worth after
prices extended their two-year decline in the first quarter, Zillow.com said. http://www.bloomberg.com/apps/news?pid=20603037&sid=alObJoQNAz.E&refer=home
May 05, 2009
S.&P.
500 Erases 2009 Losses as Stocks Jump
As
stocks climbed on Monday, a leading stock index crossed a milestone that seemed
unthinkable during the worst declines of the bear market: It turned positive for
the year. http://www.nytimes.com/2009/05/05/business/05markets.html
U.S.
Needs 'Digital Warfare Force'
The
head of America's National Security Agency says that America needs to build a
digital warfare force for the future, according to reports.
http://news.bbc.co.uk/2/hi/technology/8033440.stm
Interrogation
Debate Sharply Divided Bush White House
Interviews
with more than a dozen former Bush administration officials shed new light on a
battle over C.I.A. methods.
http://www.nytimes.com/2009/05/04/us/politics/04detain.html
Senators
Accuse Pentagon of Delay in Recovering Millions
The
Pentagon has done little to collect at least $100 million in overcharges from
the defense contractor KBR, two senators said.
http://www.nytimes.com/2009/05/04/world/americas/04contract.html
Worries
Rise on the Size of U.S. Debt
The
government is digging itself deeper into debt, but the market for Treasuries is
not infinite and interest payments are expected to
balloon.
http://www.nytimes.com/2009/05/04/business/economy/04debt.html
After
Lifetimes Spent Selling Pontiacs, Feeling Sold
Out
For
the family dealerships that have tied their names to Pontiac for generations,
the closing of the brand hits like a kinsman's betrayal.
http://www.nytimes.com/2009/05/04/us/04land.html
'Obama
Discrediting Himself and the U.S.'
Many
had hoped that U.S. President Barack Obama would undo all the damage done by his
predecessor. Now, it looks like he might continue the Bush-era practice of
trying terror suspects in military tribunals. German commentators are
disappointed.
http://www.spiegel.de/international/world/0,1518,622682,00.html
More
Middle-Class New Yorkers Face Eviction
More
of the city's middle-class tenants, their jobs gone, are falling behind on rent,
straining legal and financial services once used mostly by lower-income New
Yorkers. http://www.nytimes.com/2009/05/05/nyregion/05evict.html
May 04, 2009
Swine
Flu Cases Spread Across U.S.
Some
226 swine flu cases have been confirmed in 30 states and more cases are
expected, U.S. health officials say.
http://news.bbc.co.uk/2/hi/americas/8032188.stm
U.S.
Allies Losing Asylum Bids Over Definition of
'Terrorist'
Forced
to flee his homeland because he supported America's ideals, Tsegu Bahta thought
he'd be embraced by the country he emulated and respected. Instead, the U.S. has
branded him a terrorist. http://www.mcclatchydc.com/world/story/67261.html
Once
Middle Class, They're Now the New Homeless
They
are among a growing number of newly homeless who don't fit old stereotypes. Many
of them work regular jobs, or did until recently, nursing the sick, caring for
other people's children, vacuuming offices, driving cabs. http://www.mcclatchydc.com/nation/story/67399.html
U.S.
Has a 45-Year History of Torture
The
difference between American involvement in South American atrocities in 1964 and
'enhanced interrogation' now is that some modern-day officials appear proud of
themselves. http://www.latimes.com/news/opinion/la-oe-langguth3-2009may03,0,4295574.story
Government
Seeks Dismissal of AIPAC Case
Prosecutors
today filed a motion for dismissal of the controversial case against two former
employees of the American Israel Public Affairs Committee, Steven J. Rosen and
Keith Weissman, who were charged under the Espionage Act with unlawful receipt
and transmission of classified
information.
http://www.fas.org/sgp/jud/aipac/dismiss.pdf
Chrysler's
Fall May Help Administration Reshape G.M.
If the
Chrysler legal process unfolds as the White House hopes it will in coming weeks,
the bankruptcy option may look increasingly attractive for General Motors as
well. http://www.nytimes.com/2009/05/03/business/03auto.html
Voices
Reflect Rising Sense of Racial Optimism
More
Americans indicated that they were feeling optimistic about race relations, yet
no one claimed that racial prejudice has disappeared.
http://www.nytimes.com/2009/05/03/us/politics/03race.html
Social
Security Benefits Not Expected to Rise in '10
The
absence of a cost-of-living adjustment will be a shock to older Americans
already hit by the economic slowdown.
http://www.nytimes.com/2009/05/03/us/politics/03benefits.html
Another
Liberal Supreme Court Justice About to Exit
During
the Bush years, as Justice Souter’s place on the liberal side of the bench
became ever more firmly anchored, the cry of “no more Souters” was often heard
from Republican activists, dismayed at how the president’s father’s choice had
turned out. They can now, perhaps, take comfort. David Souter is an original.
There will be no more Souters.
http://www.nytimes.com/2009/05/03/weekinreview/03greenhouse.html
Microsoft’s
Encarta Encyclopedia to Cease
Much
planning went into Microsoft's Encarta, but ultimately it couldn't compete with
Google's algorithms. http://www.nytimes.com/2009/05/03/business/03digi.html
Obama
Has Chance to Select Justice With Varied Résumé
As
Justice David H. Souter departs, the president could move the court back toward
what it has been for most of its history: a collection of prominent individuals
with broad experience. http://www.nytimes.com/2009/05/02/us/02assess.html
U.S.
May Revive Guantanamo Military Courts
The
Obama administration is moving toward reviving a policy that the president
himself had criticized. http://www.nytimes.com/2009/05/02/us/politics/02gitmo.html
Washington
Prepares for Fight Over Any Nominee
Conservatives
said they saw the opening created by Justice David H. Souter's retirement as a
chance to regroup, posing a test for President Obama. http://www.nytimes.com/2009/05/02/us/02court.html
At
the Indian Point Nuclear Plant, a Pipe Leak Raises
Concerns
Some
experts worry that a threat to the safe operation of aging reactors across the
country may lurk in underground pipes.
http://www.nytimes.com/2009/05/02/nyregion/02nuke.html
Chrysler
Files to Seek Bankruptcy Protection
President
Obama forced Chrysler into federal bankruptcy protection on Thursday so it could
pursue a lifesaving alliance with the Italian automaker Fiat. http://www.nytimes.com/2009/05/01/business/01auto.html
Ex-Congressman
Says Campaign Manager Embezzled Funds
After
losing the House seat he held for 22 years, Christopher Shays of Connecticut has
struggled to repay debt he said is the result of a looted campaign treasury.
http://www.nytimes.com/2009/05/01/nyregion/01shays.html
Kindergarten
Waiting Lists Put Manhattan Parents on Edge
Though
the extent of the problem is not yet clear, anger is growing, particularly in
Greenwich Village and on the Upper East Side.
http://www.nytimes.com/2009/05/01/nyregion/01kindergarten.html
Pension
Adviser Charged as Cuomo Inquiry Grows
The
inquiry into corruption at the New York State pension fund widened on Thursday
when a top consultant was charged with a fraud-related felony by State Attorney
General
Andrew M. Cuomo. http://www.nytimes.com/2009/05/01/nyregion/01pension.html
Buffett
Dispenses Gloom at Berkshire
Warren
Buffett told a record crowd at a somber annual meeting of his Berkshire Hathaway
Inc that first-quarter operating profit fell and the company's book value
declined 6 percent, as the recession hurt many of the company's businesses and
investments. http://www.washingtonpost.com/wp-dyn/content/article/2009/05/03/AR2009050300387.html
FEMA
Aid Ends in Mississippi
FEMA
said, the agency will start moving out the mobile homes and trailers that have
been vacated. “For those who remain in their units on May 1,” the agency said in
response to a Sun Herald e-mail, “FEMA will hand-deliver Notices to Vacate
informing those who remain that they must surrender the housing unit or FEMA
will ask the U.S. Department of Justice to pursue legal action to gain
possession of the housing unit.” http://www.sunherald.com/pageone/story/1314212.html
Swine
Flu Ancestor Born on U.S. Factory Farms
Scientists
have traced the genetic lineage of the new H1N1 swine flu to a strain that
emerged in 1998 in U.S. factory farms, where it spread and mutated at an
alarming rate. Experts warned then that a pocket of the virus would someday
evolve to infect humans, perhaps setting off a global pandemic. http://www.wired.com/wiredscience/2009/05/swineflufarm/
Microsoft
Offers Secure Windows … But Only to the
Government
It’s
the most secure distribution version of Windows XP ever produced by Microsoft:
More than 600 settings are locked down tight, and critical security patches can
be installed in an average of 72 hours instead of 57 days. The only
problem is, you have to join the Air Force to get it. http://www.wired.com/threatlevel/2009/04/air-force-windows/
Citizens
Community Bank Fails, 31st Closure of '09
Citizens
Community Bank of Ridgewood, N.J. was closed by the New Jersey Department of
Banking and Insurance on Friday, the Federal Deposit Insurance Corporation said,
making it the 31st bank failure of 2009 and the 56th since the beginning of
financial crisis. http://www.marketwatch.com/news/story/fdic-closes-nj-based-citizens-community/story.aspx?guid={A93126C9-4ADF-48B9-B3D9-3A0E4CA92333}
Bloomberg
Proposes Sales Tax Increase
The
mayor plans to cut the city's work force by 13,541 employees, mostly through
attrition. http://www.nytimes.com/2009/05/02/nyregion/02budget.html
Former
U.S. Congressman Kemp Dies
Former
U.S. Congressman and football star Jack Kemp has died at the age of 73, after
suffering from cancer, his spokeswoman has announced.
http://news.bbc.co.uk/2/hi/americas/8031283.stm
May 01-03, 2009
Democrats
Urge Torture Probe by Special Counsel
Congressional
Democrats turned up the pressure on the Obama administration Tuesday to start a
criminal investigation by a special counsel into
harsh interrogations of terrorism suspects. http://news.yahoo.com/s/ap/20090428/ap_on_go_co/us_interrogations_probe
Federal
Court Permits Landmark ACLU Rendition Case To Go
Forward
A
federal appeals court today ruled that a landmark American Civil Liberties Union
lawsuit against Boeing subsidiary Jeppesen DataPlan Inc. for its role in the
Bush administration's unlawful extraordinary rendition program can go forward.
http://www.aclu.org/safefree/rendition/39489prs20090428.html
Truth
Commission to Proceed Despite Obama’s Wishes
Senate
Judiciary Chairman Patrick Leahy (D-VT) plans to proceed with a special
commission to investigate alleged Bush administration abuses of power, despite
lacking President Barack Obama’s support, according to a report Tuesday. http://rawstory.com/08/blog/2009/04/28/truth-commission-to-proceed-despite-obamas-wishes/
U.S.
Stress Test Results Delayed as Early Conclusions
Debated
The
Federal Reserve will postpone the release of stress tests on the biggest U.S.
banks while executives debate preliminary findings with examiners, according to
government and industry officials. http://www.bloomberg.com/apps/news?pid=20601087&sid=aYN.RjdIR9Hg&refer=home
Bank
of America Chairman is Voted Out
Bank
of America shareholders have voted to oust Kenneth Lewis as the firm's chairman,
following months of criticism over his running of the company. http://news.bbc.co.uk/2/hi/business/8026197.stm
Next
Economic Crisis Looms: Commercial Real Estate
Defaults
Two
years after fissures in the residential housing market gave way to a national
collapse of home prices and sales, experts warn the next shoe to drop is the
commercial real-estate market, bringing more woes to the battered economy. http://www.mcclatchydc.com/227/story/67187.html
Economic
Decline in Quarter Exceeds Forecast
The
government reported gross domestic product shrank at a 6.1 percent yearly rate,
but the numbers suggested that the worst of the recession may be easing.
http://www.nytimes.com/2009/04/30/business/economy/30econ.html
Chrysler
Bankruptcy Looms as Deal on Debt Falters
Barring
an agreement that looked increasingly difficult, Chrysler was expected to seek
Chapter 11 protection on Thursday, according to people with knowledge of the
matter. http://www.nytimes.com/2009/04/30/business/30auto.html
U.S.
Commerce Department: U.S. Economy Worst in 50 Years
It's
official. The United States is mired in its worst economic downturn in half a
century, the U.S. Commerce Department reported Wednesday. Data released by the
department show that the U.S. economy shrank by 6.1 percent during the first
three months of the year - a full percentage point worse than what analysts
polled by Thomson Reuters had been predicting. http://www.bizjournals.com/triangle/stories/2009/04/27/daily42.html
U.S.
March Consumer Spending Fell More Than Forecast
Purchases
decreased 0.2 percent after a 0.4 percent gain in February that was larger than
previously estimated, the Commerce Department said today in Washington. Incomes
fell for the fifth time in the last six months. http://www.bloomberg.com/apps/news?pid=20601087&sid=a_oglDHVKGyI&refer=home
Containing
Flu Is Not Feasible, Specialists Say
Closing
borders or restricting travel to thwart a flu virus would provide a marginal
benefit at a very heavy economic cost, analysts say.
http://www.nytimes.com/2009/04/30/health/30contain.html
Local
Health Agencies, Hurt by Cuts, Brace for Flu
The
recession has drained resources from the state and local health departments that
now are the front line. http://www.nytimes.com/2009/04/30/health/30states.html
Congress'
Budget Shorts Obama Plans to Shift Wealth
Lawmakers
OK a $3.5-trillion outline that leaves out many of the president's proposals to
benefit the less affluent. The debate points to the political difficulty of
curbing subsidies to the rich. http://www.latimes.com/news/la-na-budget30-2009apr30,0,5614049.story?track=ntothtml
Obama
Gives Nuanced Defense of His Stance on Torture
He
says harsh interrogation methods may have yielded useful information but that
they should still be ruled out. His stance suggests complications in ending
Bush-era counter-terrorism tactics. http://www.latimes.com/news/nationworld/nation/la-na-obama-assess30-2009apr30,0,752097.story
April 30, 2009
Centers
for Disease Control: 'Fully Expect We Will See
Deaths'
A U.S.
health official said at least five people are hospitalized with swine flu in the
United States and deaths are likely. "I fully expect we will see deaths from
this infection," as swine flu cases are investigated, said Richard Besser,
acting director of the federal Centers for Disease Control. He said he did not
know about a newspaper report of two deaths in two southern California hospitals in which the victims
seemed to be suffering from swine flu symptoms. http://news.yahoo.com/s/ap/20090428/ap_on_re_us/us_swine_flu_cdc
VIDEO: First U.S. Fatality Linked to Swine
Flu
Flu
spreads to more states. http://www.msnbc.msn.com/id/21134540/vp/30471590#30471590
California
Declares State of Emergency Over Swine Flu
Gov.
Arnold Schwarzenegger today proclaimed a state of emergency over the spread of
swine flu, expediting state agency responses to the outbreak. http://latimesblogs.latimes.com/lanow/2009/04/governor-la-county-declare-state-of-emergency-for-swine-flu.html
Flu
May Have Spread Within New York City
The
outbreak may have spread beyond one school in Queens to pockets across the city,
including at least two other schools, officials said on Tuesday. http://www.nytimes.com/2009/04/29/nyregion/29school.html
Pork
Industry Fights Concerns Over Swine Flu
Even
as medical professionals tell the public that pork is safe to eat, Wall Street
analysts predicted a sharp decline in sales at grocery
stores.
http://www.nytimes.com/2009/04/29/business/economy/29trade.html
Asking
for More Funding, U.S. Steps Up Flu Response
State
and federal officials intensified their response to the swine flu outbreak on
Tuesday, with President Obama asking Congress for $1.5 billion in supplemental
funding. http://www.nytimes.com/2009/04/29/health/29flu.html
FAA
Memo: Feds Knew NYC Flyover Would Cause Panic
Federal
officials knew that sending two fighter jets and Air Force One to buzz ground
zero and Lady Liberty might set off nightmarish fears of a 9/11 replay, but they
still ordered the photo-op kept secret from the public. Threatened Federal
sanctions against NYPD, Secret Service, FBI & Mayor's Office if secret ever
got out. http://wcbstv.com/topstories/air.force.one.2.996457.html
Slump
in Exports Hits U.S. Economy
The
U.S. economy continued to contract in the first quarter of 2009, led by the
biggest fall in exports for 40 years.
http://news.bbc.co.uk/2/hi/business/8024839.stm
U.S.
Cyber-Security 'Embarrassing'
America's
cyber-security has been described as "broken" by one industry expert and as
"childlike" by another. http://news.bbc.co.uk/2/hi/technology/8023793.stm
U.S.
Economy in 2nd Straight Quarter of Steep Decline
The
American economy shrank rapidly in the first three months of the year, the
government reported on Wednesday, a signal that the economy is likely to remain
a dominant issue as the Obama administration looks beyond its first 100 days. http://www.nytimes.com/2009/04/30/business/economy/30econ.html
Obama
Expands Housing Help to Include Second Mortgages
The
Obama administration expanded its efforts to prevent Americans from losing their
homes, unveiling a program Tuesday that's designed to give financial incentives
for companies to modify the terms of troubled second mortgages. http://www.mcclatchydc.com/homepage/story/67072.html
Specter
Joins Democrats; Senate Count May Reach 60
The
decision by Senator Arlen Specter of Pennsylvania to switch parties potentially
presents Democrats with a 60th vote and the power to break Senate
filibusters. http://www.nytimes.com/2009/04/29/us/politics/29specter.html
Official
Defends Signing Interrogation Memos
Judge
Jay S. Bybee said that he continued to believe that the memorandums represented
"a good-faith analysis of the law" that properly defined the thin line between
harsh treatment and torture. http://www.nytimes.com/2009/04/29/us/politics/29bybee.html
Feeling
More Secure, Some Banks Want to Be Left Alone
Emboldened
by newfound profits and eager to shake off federal control, a growing number of
banks are resisting the Obama administration's proposals for fixing the system.
http://www.nytimes.com/2009/04/29/business/economy/29bank.html
Obama
Plans to Enforce Mining Limits
The
Obama administration is moving to tighten a coal mining rule loosened by his
predecessor, but it might not be enough to satisfy environmentalists. http://www.kentucky.com/181/story/776186.html
April 29, 2009
Swine-Flu
Cases in U.S. Jump, Led by New York, U.S. CDC
Says
The
number of confirmed cases of swine flu in the U.S. jumped to 64, with most in
New York City, the Centers for Disease Control and Prevention said today. http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=a.17awH72_k4
Firms
Look to Prevent Swine Flu Pandemic, Turn a Profit
Stocks
slipped worldwide Tuesday on fears that a swine flu pandemic could go global,
but some companies with the tools to tackle a wide outbreak have already seen a
bump in their share prices and could be poised to profit if the disease
continues its deadly spread around the world. http://abcnews.go.com/Business/story?id=7443409&page=1
Swine
Flu Outbreaks in 5 States Rattle U.S.
State
health departments nationwide intensified their search for sneezing, feverish
people who may have contracted swine flu as officials tried to contain the
spread of the unusual illness. http://www.usatoday.com/news/health/2009-04-27-swinefluUSA_N.htm
Hospitals
Cutting Services, Staff Amid Recession
Ailing
from the recession, many U.S. hospitals have had to begin making painful cuts to
patient services and laying off staff, as previous cost-cutting hasn't been
enough, an industry survey found. http://www.chron.com/disp/story.mpl/ap/health/6394001.html
Teenagers
From Queens in Swine Flu Spotlight
Health
officials are scrambling to figure out whether a group of high school seniors
who went to Cancun, Mexico, for spring break were the unwitting vector that
brought
swine flu to New York City. http://www.nytimes.com/2009/04/28/nyregion/28school.html
U.S.
Toxic-Asset Plan Stirs Fears
The
government will take on a mountain of risk while trying to create an artificial
market for the loans and debt securities. Critics worry about possible fraud and
further banking system damage. http://www.latimes.com/news/nationworld/nation/la-na-toxic-assets27-2009apr27,0,7994438.story
Bank
of America May Need $70 Billion After Stress Test, FBR
Says
Bank
of America Corp. needs $60 billion to $70 billion of capital, according to
Freidman, Billings, Ramsey Group Inc. analyst Paul Miller, who cited stress
tests performed by his firm. http://www.bloomberg.com/apps/news?pid=20601087&sid=anMBieeeby_o&refer=home
U.S.
Stock Futures Decline on Concern Banks Need More
Capital
U.S.
stock futures fell, indicating the Standard & Poor’s 500 Index will drop for
a second day, on concern Bank of America
Corp. and Citigroup Inc. may be required to raise more capital. http://www.bloomberg.com/apps/news?pid=20601103&sid=axm0.VYsi2po&refer=news
Clinton
Says U.S. Is Ready to Lead on Climate
After
eight years largely on the sidelines, the United States is prepared to lead
negotiations toward a new global warming treaty, Secretary of State Hillary
Rodham Clinton said Monday. http://www.nytimes.com/2009/04/28/science/earth/28climate.html
Recriminations
After NYC Jet Flyover Photo Op
It was
supposed to be a photo op that captured images of an Air Force One plane with a
majestic Statue of Liberty in the background. Instead, it turned into a public
relations nightmare that led to recriminations from the president and mayor and
prompted thousands of others to ask, "What were they thinking?" http://www.google.com/hostednews/ap/article/ALeqM5jQCKDUYswf9K9lMjX4oxtDxHVqXQD97RFTKG0
Democrats
Announce Agreement on Budget Pact
The
deal would prevent Senate Republicans from delaying or blocking the president's
plan to expand government-subsidized health care when it advances this
fall.
http://www.nytimes.com/aponline/2009/04/27/us/AP-US-Congress-Budget.html
How
'07 ABC Interview Tilted a Torture Debate
An
official's claim that waterboarding yielded quick results was widely repeated,
but has now been discredited. http://www.nytimes.com/2009/04/28/business/media/28abc.html
Cyberwar
U.S.
Plans Attack and Defense in Cyberspace Warfare
A
new international race has begun to develop cyberweapons and systems to protect
against them. http://www.nytimes.com/2009/04/28/us/28cyber.html
U.S.
Close to Decision on Future of Detainees
The
Obama administration is close to deciding how many detainees currently held in
Guantánamo Bay will be freed and resettled in the United States and other
countries, according to attorney general Eric Holder. http://www.irishtimes.com/newspaper/world/2009/0428/1224245521241.html
On
Voting Rights, Test of History v. Progress
The
Supreme Court must consider if a law rooted in the age of Jim Crow is still
needed - and still constitutional - in the Obama era.
http://www.nytimes.com/2009/04/28/us/28voting.html
April 28, 2009
U.S.
Declares Public Health Emergency Over Swine Flu
U.S.
health officials said that they had confirmed 20 cases of swine flu in the
country and expected to see more as investigators track the path of the
outbreak. http://www.nytimes.com/2009/04/27/world/27flu.html
Obama's
Host Dies from 'Flu-Like Symptoms'
According
to alarming reports from Mexico City, Felipe Solis, a distinguished
archaeologist who showed Mr Obama around the city's anthropology museum during
his visit to Mexico earlier this month, died the next day from "flu-like
symptoms". http://www.independent.co.uk/news/world/americas/obamas-host-dies-from-flulike-symptoms-1674743.html
Military
Officials Monitor Swine Flu
Defense
Department officials are monitoring the swine flu situation closely,
with their primary focus on protecting the military population, a senior
Pentagon official said April 27. http://www.af.mil/news/story.asp?id=123146275
Napolitano
Says U.S. Should Prepare for New Flu Outbreak Soon Even if This One Fizzles
Out
http://www.forbes.com/feeds/reuters/2009/04/26/2009-04-26T165622Z_01_N26489892_RTRIDST_0_NAPOLITANO-SAYS-US-SHOULD-SHOULD-PREPARE-FOR-NEW-FLU-OUTBREAK-SO.html
Jay
Leno Out of Hospital After Illness
Talk
show host Jay Leno left a Los Angeles hospital Friday, one day after a sudden
illness forced cancellation of his appearance on US television's "The Tonight
Show," his spokesman said. http://www.google.com/hostednews/afp/article/ALeqM5jxEChg7VsBkFYsy0JHrf7Ii3Z-4g
GM
to Cut a Further 21,000 Jobs
General
Motors (GM) is to cut a further 21,000 US jobs this year and phase out its
Pontiac brand, as it aims to meet a 1 June deadline to revamp its
business. http://news.bbc.co.uk/2/hi/business/8021029.stm
NY
Attorney General Letter to Congress on Questionable TARP
Transactions
http://zerohedge.blogspot.com/2009/04/cuomo-letter-exposing-paulsons-and.html
After
an Off Year, Wall Street Pay Is Bouncing Back
If the
pace set in the first quarter continues all year, the average pay for bankers --
much of it in bonuses – will rebound from the lows of last year. http://www.nytimes.com/2009/04/26/business/26pay.html
Top
25 Newspapers Lose 1 Million Readers Since Last
March
The
top 25 newspapers in the United States lost nearly one million readers
year-over-year for the six months ending March 30, a record pace for the ailing
dead-tree industry, according to Editor and Publisher. http://www.wired.com/epicenter/2009/04/top-25-newspapers-lose-1-million-readers-since-last-march/
Survey:
Half of U.S. Adults Have Switched
Religions
More
than half of all Americans have switched religions at least once, according to
an in-depth survey released today. http://www.usatoday.com/news/religion/2009-04-27-pew-religion-switch_N.htm
Bank
of America Lets Go of Countrywide Name
The
investment giant drops the 40-year-old brand and instead calls its lending
offices Bank of America Home Loans.
http://money.cnn.com/2009/04/27/news/companies/countrywide_name.reut/index.htm
Stocks
Slip on Flu, Bank Concerns
Investors
worry about the potential economic impact of swine flu, bank 'stress tests' and
quarterly results.
http://money.cnn.com/2009/04/27/markets/markets_newyork/index.htm
To
Save Money, States Turn to Furloughs
At
least 15 states are in various stages of considering or implementing furloughs.
http://www.nytimes.com/2009/04/24/us/24furlough.html
Microsoft
Profit Falls for First Time in 23 Years
The
company's revenue dropped 6 percent and its profits by 32 percent compared with
the same quarter last year. http://www.nytimes.com/2009/04/24/technology/companies/24microsoft.html
Democrats
Have Qualms Over War in Afghanistan
Congressional
Democrats' concerns about a potentially endless conflict have complicated the
White House's push for $83.4 billion in war spending and other aid. http://www.nytimes.com/2009/04/24/us/politics/24spend.html
More
Atheists Shout It From the Rooftops
Organized
atheist groups liken their strategy to the gay-rights movement, which lifted off
when members of a scorned minority went public.
http://www.nytimes.com/2009/04/27/us/27atheist.html
April 24-27, 2009
Crisis
Plunges U.S. Middle Class Into Poverty
The
financial crisis in the US has triggered a social crisis of historic dimensions.
Soup kitchens are suddenly in great demand and tent cities are popping up in the
shadow of glistening office towers. Even drug dealers are feeling the pinch. http://www.spiegel.de/international/world/0,1518,620754,00.html
Pressure
Grows on Obama to Call for Interrogation Panel
If
growing political pressure doesn't subside soon, President Barack Obama may have
to do something he's resisted doing since he took office: support a new
investigation into how the Bush-era C.I.A. interrogated suspected terrorists
using techniques that are widely considered torture. http://www.mcclatchydc.com/227/story/66805.html
Congress
Debates Fresh Investigation Of Interrogations
The
legacy of George W. Bush continued to dog President Obama and his administration
yesterday, as Congress divided over creating a panel to investigate the harsh
interrogation techniques employed under Bush's authorization and the White House
tried to contain the controversy over the president's decision to release
Justice Department memos justifying and outlining those procedures. http://www.washingtonpost.com/wp-dyn/content/article/2009/04/22/AR2009042204032.html
Rice
Gave Early 'Waterboarding Green Light'
The
C.I.A. first sought in May 2002 to use harsh interrogation techniques including
waterboarding on terror suspects, and was given key early approval by
then-national security adviser Condoleezza Rice, a US Senate intelligence
document said. http://news.yahoo.com/s/afp/20090423/ts_alt_afp/usattacksmilitaryjusticecongresszubaydah
Obama
Attacks Credit Card 'Abuse'
President
Barack Obama has told the U.S. credit card industry to scrap unfair interest
rate hikes and to be more transparent and accountable.
http://news.bbc.co.uk/2/hi/business/8015549.stm
G.M.
to Shut Most U.S. Plants Up to 9 Weeks
General
Motors Corp. is planning to temporarily close most of its U.S. factories for up
to nine weeks this summer because of slumping sales and growing inventories of
unsold vehicles, two people briefed on the plan said Wednesday. http://finance.yahoo.com/news/AP-SourcesGM-to-shut-many-US-apf-15004037.html
Foreclosures
Take Health Along With Homes, Report Says
The
foreclosure crisis is causing more problems than lost homes, it also is
deteriorating the health of individuals and communities, according to housing
advocates and East Bay officials. "We know where people live has a lot to do
with how people live and how long they live," said Sandra Witt, deputy director
of planning, policy and health equity for Alameda County's Public Health
Department. http://www.mercurynews.com/realestatenews/ci_12193492?nclick_check=1
As
Housing Market Dips, More in U.S. Are Staying Put
Fewer
Americans moved in 2008 than in any year since 1962, the Census Bureau said, a
lack of mobility that prompted concerns on the economy.
http://www.nytimes.com/2009/04/23/us/23census.html
Fort
Detrick Disease Samples May Be Missing
Army
criminal investigators are looking into the possibility that disease samples are
missing from biolabs at Fort Detrick. http://www.fredericknewspost.com/sections/news/display.htm?StoryID=89293
A
Pentagon Cyber-Command Is in the Works
The
Obama administration is finalizing plans for a new Pentagon command to
coordinate the security of military computer networks and to develop new
offensive cyber-weapons, sources said last night. http://www.washingtonpost.com/wp-dyn/content/article/2009/04/22/AR2009042200029.html
Pelosi
Tells of a Briefing by Officials on Harman
House
Speaker Nancy Pelosi acknowledged for the first time that she had been briefed
"maybe three years ago" that Representative Jane Harman had been picked up on a
wiretapped phone conversation. http://www.nytimes.com/2009/04/23/us/politics/23rivals.html
April 23, 2009
Obama
Open to Prosecution, Probe of Interrogations
President
Barack Obama left
the door open Tuesday to prosecuting Bush administration
officials who devised the legal authority for gruesome terror-suspect
interrogations, saying the United States lost "our moral bearings" with use of
the tactics. The question of whether to bring charges against those who devised
justification for the methods "is going to be more of a decision for the
attorney general within the parameters of various laws and I don't want to
prejudge that," Obama said. The president discussed the continuing issue of
terrorism-era interrogation tactics with reporters as he finished an Oval Office meeting with visiting King Abdullah II of Jordan. http://news.yahoo.com/s/ap/obama_interrogation_memos/print
In
Adopting Harsh Tactics, No Inquiry Into Their Past
Use
Top
U.S. officials involved in the adoption of brutal interrogation methods did not
investigate the origins of the techniques they approved with little debate.
http://www.nytimes.com/2009/04/22/us/politics/22detain.html
Report
Gives New Detail on Approval of Brutal Techniques
A
Senate report offered evidence that the military's harsh interrogations of
terrorism suspects were authorized at high levels of the Bush administration.
http://www.nytimes.com/2009/04/22/us/politics/22report.html
Debtholders
vs. U.S. Over Chrysler Deal
The
company's largest lenders pushed back on demands from the Obama administration
to restructure the company's debt. http://www.nytimes.com/2009/04/22/business/22chrysler.html
Obama
Signs Bill Vastly Expanding National Service
Corps
President
Barack Obama, who got his political start as a community organizer, signed
legislation Tuesday to more than triple the number of government-backed
volunteers across the country at a cost of billions of dollars. http://www.mcclatchydc.com/politics/story/66613.html
Stock
Market Bulls Have Got it Wrong, Warns Nouriel
Roubini
Nouriel
Roubini, the so-called "arch bear" economist who predicted the current financial
crisis in 2006, added further gloom yesterday after he wrote off recent rises in
global stock markets as no more than a dead cat bounce.
http://www.independent.co.uk/news/business/news/stock-market-bulls-have-got-it-wrong-warns-nouriel-roubini-1671690.html
Geithner
Says Big Banks are Healthy as Skepticism Grows
Days
before his agency releases key details of unusual tests to measure the health of
the nation's 19 largest banks, Treasury Secretary Timothy Geithner told a
watchdog panel Tuesday that the "vast majority" have sufficient capital,
implying there's little need for more injections of taxpayer money. http://www.mcclatchydc.com/politics/story/66608.html
Fujimori's
Conviction Should Give Bush Nightmares
Alberto
Fujimori was found to be responsible for the killing of a number of innocent
civilians by government death squads. The conviction of Fujimori, who had been
president from 1990 to 2000, was a rare triumph of justice over the impunity of
power and was the first time in Latin America that an ex-president had been
called to account in such a manner. http://www.mcclatchydc.com/337/story/66310.html
Soaring
U.S. Budget Deficit Will Mean Billions in Bond
Sales
Millions
of lost jobs mean billions in lost tax revenue for
the U.S. government, and billions in additional Treasury debt to fund a federal
budget deficit that
may soar to more than four times last year’s record $454.7 billion. http://www.bloomberg.com/apps/news?pid=20601109&sid=anA.WOxto6qQ&refer=home
Shortages
of Ammo and Gun Accessories Cropping Up
Nationwide
"People
are panicking and buying," said Furtardo, assistant manager. "The crime rate is
high, and they are flat scared of what is going to happen in the next few years
with the economy and the country. Manufacturers weren't prepared for this." http://www.mcclatchydc.com/328/story/66486.html
Military
Helped With CIA Interrogation Tactics, Report
Says
A
senator says the report 'connects the dots' to show how techniques familiar to
military experts found their way into controversial memos by the Justice
Department. http://www.latimes.com/news/nationworld/nation/la-na-torture-levin22-2009apr22,0,7807030.story
Freddie
Mac CFO Found Dead in Apparent Suicide
The
government-controlled company that owns or guarantees about 13 million home
loans has been criticized for reckless business practices. David Kellerman got
his post in September. David Kellermann, the acting chief financial officer of
mortgage giant Freddie Mac, was found dead at his home Wednesday in what
broadcast reports said was an apparent suicide. http://www.latimes.com/business/la-fi-freddie-mac23-2009apr23,0,3367624.story
An
Effort to Save a City by Shrinking It
Leaders
in Flint, Mich., advocate demolishing entire blocks to concentrate on healthier
ones. http://www.nytimes.com/2009/04/22/business/22flint.html
Pirate
Suspect Charged as Adult in New York
A
Somali teenager arrived to face what are believed to be the first piracy charges
in the U.S. in decades. http://www.nytimes.com/2009/04/22/nyregion/22pirate.html
April 22, 2009
Pelosi
Wall Street Probe Modeled on Pecora After Market
Crash
Wall
Street may be heading for the deepest investigation of its practices since a
congressional panel’s probe of abuses following the 1929 stock market crash. http://www.bloomberg.com/apps/news?pid=20601109&sid=aX8OXwhcJXVU&refer=home
Psychologists
Helped Guide Interrogations
When
the CIA began what it called an "increased pressure phase" with captured
terrorism suspect Abu Zubaida in the summer of 2002, its first step was to limit
the detainee's human contact to just two people. One was the CIA interrogator,
the other a psychologist.
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/17/AR2009041703690.html
Cheney
Enters 'Torture' Memos Row
Former
Vice-President Dick Cheney has urged the CIA to release memos, which he says,
show harsh interrogation techniques such as water-boarding work. http://news.bbc.co.uk/2/hi/americas/8009571.stm
Pressure
Grows to Investigate Interrogations
Despite
his assurances to the C.I.A., President Obama may not be able to avoid an
inquiry into interrogation tactics used under the Bush administration.
http://www.nytimes.com/2009/04/21/us/politics/21intel.html
Nonprofit
Groups to Push for Exceptions to Lobby Rule
Critics
of the president's anti-lobbyist policy say it assumes that all lobbying is
suspect, even legitimate advocacy at the heart of a democratic process.
http://www.nytimes.com/2009/04/21/us/politics/21lobby.html
Bail-Out
'Risk' for U.S. Taxpayers
A
watchdog for the U.S.'s $700bn (£481bn) bail-out plan for banks, said some
aspects could be "unfair" to taxpayers.
http://news.bbc.co.uk/2/hi/business/8009656.stm
Obama
to Lean on Credit Card CEOs
Congress
is pushing ahead on legislation to protect consumers, and the president is
signaling he's ready to take action.
http://money.cnn.com/2009/04/21/news/economy/credit_card_crackdown/index.htm
Bank
Aid Programs Are Seen as Open to Fraud
The
special inspector general assigned to monitor the bailout program criticized the
government's failure to demand information on what banks are doing with the
money. http://www.nytimes.com/2009/04/21/business/economy/21bailout.html
Obama
Tells His Cabinet to Look for Efficiency
President
Obama's call for department and agency heads to come up with ways to save $100
million over the next 90 days was met with derision from conservatives.
http://www.nytimes.com/2009/04/21/us/politics/21cabinet.html
Bank
Bailout Plan's 'Stress Tests' Already Causing
Stress
Bankers
and regulators worry about how much of the results to release. Too much or too
little information could undermine the financial institutions or the bailout.
http://www.latimes.com/news/la-fi-stress-tests19-2009apr19,0,1206074.story?track=ntothtml
Government
Looks to Hackers to Protect Computer Networks
Buffeted
by millions of digital scans and attacks each day, federal authorities are
looking for hackers — not to prosecute them, but to pay them to secure the
nation's networks. http://tech.yahoo.com/news/ap/20090418/ap_on_hi_te/us_cyber_security
Some
Influential Muslim Groups Question FBI's Actions
Revelations
that the agency has been surveilling popular leaders and infiltrating mosques
and schools has many organizations turning away from their post-9/11
cooperation. http://www.latimes.com/news/local/la-me-muslims-fbi20-2009apr20,0,7708003.story
In
MTV Style, Mayor Urges New Yorkers to Get Out and
Volunteer
Mayor
Michael R. Bloomberg, with the aid of MTV News, announced a new plan to
encourage volunteerism among city residents.
http://www.nytimes.com/2009/04/21/nyregion/21volunteer.html
April 21, 2009
U.S.
Stocks Tumble as Financials, Commodity Shares
Retreat
U.S.
stocks tumbled, led by the biggest drop in financial shares in three months, as
concern grew that credit losses are worsening and lower commodity prices dragged
down energy and material producers.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6I_wChaeq7w&refer=home
U.S.
Officials Signal No Need for More TARP Funds From
Congress
Obama
administration officials signaled there may be no need to request more
financial-rescue funds from Congress as several banks plan to return taxpayer
money and others are pushed to tap private markets first. http://www.bloomberg.com/apps/news?pid=20601070&sid=aRcyQIFEbm2s&refer=home
Obama's
Revenue Plans Hit Resistance in Congress
Resistance
to President Obama's tax and revenue proposals could threaten a major health
care overhaul and other policy initiatives.
http://www.nytimes.com/2009/04/20/us/politics/20tax.html
Bank
Lending Keeps Dropping
Lending
at the biggest U.S. banks has fallen more sharply than realized, despite
government efforts to pump billions of dollars into the financial sector. http://online.wsj.com/article/SB124019360346233883.html
Sources:
Wiretap Recorded Rep. Harman Promising to Intervene for
AIPAC
Rep.
Jane
Harman , the California Democrat with a longtime involvement in intelligence
issues, was overheard on an NSA wiretap telling a suspected Israeli agent that
she would lobby the Justice Department reduce espionage-related charges against
two officials of the American Israeli Public Affairs Committee, the most
powerful pro-Israel organization in Washington. http://static.cqpolitics.com/harman-3098436-page1.html?docID=hsnews-000003098436
An
Atlanta Editorial Voice May Move to the Right
Most
of The Journal-Constitution's editorial board will be replaced in May, a move
that could produce a less liberal voice for one of the country's leading
regional papers.
http://www.nytimes.com/2009/04/20/business/media/20ajc.html
3
Trustees of A.I.G. Are Quiet, Perhaps to a Fault
For
all their responsibility, the government's overseers at American International
Group have studiously remained invisible to the public.
http://www.nytimes.com/2009/04/20/business/20trustees.html
U.S.
May Convert Banks' Bailouts to Equity Share
Obama
administration officials say the approach will allow them to shore up the
nation's banking system without seeking more money from Congress. http://www.nytimes.com/2009/04/20/business/20bailout.html
Ill
From Food? Ability to Investigate Outbreaks Varies by
State
Tracking
food scares in the U.S. is left to more than 3,000 departments, and in several
cases Minnesota officials have safeguarded the rest of the country. http://www.nytimes.com/2009/04/20/health/policy/20food.html
Not-So-Secret
Holiday Hints at Change for Marijuana Advocates
Advocates
of legalizing marijuana are sensing increasing momentum toward acceptance of the
drug, either as medicine or entertainment.
http://www.nytimes.com/2009/04/20/us/20marijuana.html
Waterboarding
Used 266 Times on 2 Suspects
C.I.A.
interrogators used the near-drowning technique, which Obama administration
officials have described as torture, 266 times on two key prisoners from Al
Qaeda. http://www.nytimes.com/2009/04/20/world/20detain.html
Police
Battle Rising Crime
Police
officers in many cities are confronting a surge in property crime, paired with
reduced resources for enforcement.
http://www.nytimes.com/2009/04/20/us/20cops.html
In
New Jersey, Bills Offering In-State Tuition to Illegal Immigrants Face a
Fight
In an
election year, the political climate is hard to predict for legislation that
critics say would take coveted spots in publicly supported schools from
citizens. http://www.nytimes.com/2009/04/20/nyregion/20tuition.html
April 20, 2009
Volcker
Says Fed’s Authority Probably to Be
Reviewed
“I
don’t think the political system will tolerate the degree of activity that the
Federal Reserve, in conjunction with the Treasury, has taken,” Volcker, head of
President Barack
Obama’s Economic Recovery Advisory Board, said today at a conference at
Vanderbilt University in Nashville, Tennessee. http://www.bloomberg.com/apps/news?pid=20601087&sid=ainh3qdHJuoM&refer=home
Despite
Major Plans, Obama Taking Softer Stands
After
pledges to change Washington, the president's early willingness to deal or fold
has left commentators and allies wondering: where's the fight? http://www.nytimes.com/2009/04/19/us/politics/19lobby.html
E.P.A.
Clears Way for Greenhouse Gas Rules
The
agency on Friday formally declared carbon dioxide and other heat-trapping gases
to be pollutants that threaten public health and welfare.
http://www.nytimes.com/2009/04/18/science/earth/18endanger.html
C.I.A.
Memos Could Bring More Disclosures
After
revealing details about interrogation methods, President Obama now faces a
challenge to make good on his promise to protect operatives from legal jeopardy.
http://www.nytimes.com/2009/04/18/us/politics/18detain.html
Some
Stem Cell Research Limits Lifted
The
proposed guideline announced by the Obama administration will please many but
not all scientists. http://www.nytimes.com/2009/04/18/health/18stem.html
CIA
Fears Torture Prosecutions
The
CIA fears some of its operatives could face prosecution for torturing high-level
terrorist suspects, despite President Barack Obama’s promise of legal immunity.
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6122483.ece
In
State Pension Inquiry, a Scandal Snowballs
The
inquiry into corruption at the New York State pension fund has ballooned into a
sprawling investigation involving prominent players in New York's political and
financial worlds. http://www.nytimes.com/2009/04/18/nyregion/18pension.html
Obama
to Take Aim at Credit Card Abuses
White
House top economic advisor Summers says administration will crack down on
deceptive practices that have saddled consumers with debt.
http://money.cnn.com/2009/04/19/news/economy/summers_credit.reut/index.htm?section=money_mostpopular
Janet
Reno Receives Award from Justice Group
Janet
Reno, the former attorney general in the Clinton administration, received a
lifetime achievement award Friday from the American Judicature Society, a
non-partisan justice advocacy network. http://www.mcclatchydc.com/257/story/66444.html
April 17-19, 2009
VIDEO: Justice Dept. Whistleblower Defends Decision to Leak
Bush Domestic Surveillance Program
We
speak with Thomas Tamm, the man who blew the whistle on the Bush
administration's secret domestic surveillance program. Tamm worked as an
attorney at the Justice Department when he leaked the story to the New York
Times in 2004. In 2007, the FBI raided his home and seized three computers and
personal files. He still faces possible arrest for disclosing classified
secrets.
http://www.democracynow.org/2009/4/16/justice_dept_whistleblower_responds_to_latest
Thomas
Tamm, 2009
Recipient of the Ridenhour Truth-Telling Prize
Thomas
Tamm worked at a Justice Department that, in the name of national security, had
abandoned the core principles that form the basis of our democracy and our
individual liberties. The fact that he still faces a threat of criminal
prosecution at the hands of an institution which itself was operating outside of
the law, is in and of itself a national disgrace. What makes Tamm’s case even
more poignant is that there remains not a single authorized avenue for a
national security whistleblower to use and receive protection when they
challenge the Executive Branch for breaking the law. Today, we honor a person
who has imperiled his own future liberty to preserve the liberties of all of us
who live in this nation. http://www.ridenhour.org/recipients_03g.shtml
Obama
Releases Torture Memos, Vows Not to Prosecute [Defends Bush Era
Crimes]
The
Obama administration on Thursday released top secret memos outlining the legal
rationale used to justify the CIA's torture of terror suspects, but vowed not to
prosecute the torturers. http://blog.wired.com/27bstroke6/2009/04/obama-releases.html
NSA
Broke New Eavesdropping Law
Even
after Congress drafted legislation last year that gave the National Security
Agency broad powers to eavesdrop, the agency exceeded that authority and
intercepted private e-mail messages and phone calls of Americans in recent
months, according to The New York Times. http://blog.wired.com/27bstroke6/2009/04/nsa-broke-new-e.html
Justice
Department Releases Bush Administration Torture
Memos
In
response to litigation filed by the American Civil Liberties Union under the
Freedom of Information Act (F.O.I.A.), the Justice Department today released
four secret memos used by the Bush administration to justify torture. The memos,
produced by the Justice Department's Office of Legal Counsel (O.L.C.), provided
the legal framework for the C.I.A.'s use of waterboarding and other illegal
interrogation methods that violate domestic and international law. http://www.aclu.org/safefree/torture/39393prs20090416.html
Abuse
of Power: The Bush Administration's Secret Legal
Memos
http://www.aclu.org/safefree/general/olc_memos.html
Obama Tilts to CIA on
Memos
The
Obama administration is leaning toward keeping secret some graphic details of
tactics allowed in Central Intelligence Agency interrogations, despite a push by
some top officials to make the information public, according to people familiar
with the discussions. http://online.wsj.com/article/SB123975168816518691.html
Pentagon
Closes Office Accused of Issuing Propaganda Under Bush
A
Pentagon office responsible for coordinating Defense Department information
campaigns overseas has been abolished in an effort by the Obama administration
to distance itself from past practices that some military officers called
propaganda, senior officials said Wednesday. http://www.nytimes.com/2009/04/16/us/politics/16policy.html
Head
of Senate Panel Seeks Hearing on Wiretaps
Senator
Dianne Feinstein called for the hearing after new reports that the National
Security Agency went beyond its authorization.
http://www.nytimes.com/2009/04/17/us/17nsa.html
Lawsuit
Proceeds Against Cheney Security Team
A
federal judge in Denver has declined to toss out a lawsuit against four U.S.
Secret Service agents who arrested a man in Beaver Creek in 2006 after he
approached then-Vice President Dick Cheney to criticize the Iraq war. http://www.denverpost.com/news/ci_12140350
Bank
Test Results May Strain Limits Of Bailout Funding
As the
Obama administration works to complete its stress tests for gauging the health
of major banks, it could confront another problem: how to pay for shoring up any
weaknesses the tests reveal. http://www.washingtonpost.com/wp-dyn/content/article/2009/04/15/AR2009041503943.html
Pelosi
Promises a New Pecora Commission
House
Speaker Nancy Pelosi said today she'd like to form a Pecora-style commission to
investigate what happened on Wall Street that perpetrated the financial crisis.
Ferdinand Pecora was appointed chief counsel to the Senate Banking and Currency
Committee by Herbert Hoover in 1929 but it was his work under FDR ferreting out
bankers whose insider trading helped caused the Depression and those who
profited from the collapse through short selling that earned him fame. His
investigations led to the Securities Act of 1933 and the Securities Exchange Act
of 1934. http://swampland.blogs.time.com/2009/04/15/a-new-pecora-commission/
Ex-Chairman
of New York Liberal Party Indicted
Prosecutors
say that Raymond B. Harding did 30 years' worth of political favors for the
former comptroller Alan G. Hevesi.
http://www.nytimes.com/2009/04/16/nyregion/16indict.html
A.I.G.
Chief Owns Significant Stake in Goldman
Although
paid just $1 a year to lead A.I.G., Edward Liddy owns a large stake in Goldman
Sachs, which was aided by the U.S. bailout of the struggling insurer.
http://www.nytimes.com/2009/04/17/business/17liddy.html
Goldman
Sachs Tries to Shut Down Blogger
Mike
Morgan is a registered investment adviser and a scrappy shoot-from-the-hip guy
who doesn’t mince his words. Recently Morgan has come under fire from investment
giant Goldman Sachs for his hard-hitting web site “Facts about Goldman Sachs.”
According to the U.K. Telegraph, “Goldman Sachs is attempting to shut down a
dissident blogger who is extremely critical of the investment bank, its board
members and its practices. http://onlinejournal.com/artman/publish/article_4602.shtml
Stiglitz
Says White House Ties to Wall Street Doom Bank
Rescue
The
Obama administration’s bank- rescue efforts will probably fail because the
programs have been designed to help Wall Street rather than create a viable
financial system, Nobel Prize-winning economist Joseph Stiglitz said. http://www.bloomberg.com/apps/news?pid=20601087&sid=ahnPchOxZMh8&refer=home
Obama
Adviser Said to Be Tied to Pension Deal
Regulators'
documents described Steven Rattner, tapped to restructure the auto industry, as
having directed his investment firm to pay more than $1 million to obtain New
York State pension business. http://www.nytimes.com/2009/04/17/nyregion/17pension.html
April 16, 2009
U.S.
Planning to Reveal Data on Health of Top Banks
As it
tries to restore confidence in the financial system, the Obama administration is
preparing to disclose the conditions of the 19 biggest banks in the country.
http://www.nytimes.com/2009/04/15/business/economy/15bailout.html
Obama
Stands Firm on a Sweeping Agenda
On
Tuesday, President Obama explained why he wants not only to revive the economy
but to virtually reinvent it to ensure its long-term
health.
http://www.nytimes.com/2009/04/15/business/economy/15obama.html
Offices
Go Vacant at Fannie and Freddie
While
the government has invested billions of dollars into Fannie Mae and Freddie Mac,
the companies are suffering from an exodus of senior and midlevel managers.
http://www.nytimes.com/2009/04/15/business/economy/15fannie.html
Yahoo
Is Said to Plan More Layoffs
The
staff cuts could affect several hundred employees and may be announced when the
company reports its earnings.
http://www.nytimes.com/2009/04/15/technology/companies/15yahoo.html
EBay
Plans Public Offering for Skype
EBay
announced plans to spin off its Internet calling division, in an initial public
offering targeted for the first half of 2010.
http://www.nytimes.com/2009/04/15/technology/companies/15skype.html
Intel
Says PC Sales Have Reached a Bottom and Forecasts Moderate
Growth
The
chipmaker said that first-quarter net income fell 55 percent to $647 million, or
11 cents a share, on revenue of $7.1 billion.
http://www.nytimes.com/2009/04/15/technology/companies/15chip.html
Treasurys
Mixed Ahead of Inflation Data
Treasurys
were mixed Wednesday, with longer-dated bonds advancing, ahead of a government
report on inflation. http://money.cnn.com/2009/04/15/markets/bondcenter/credit/index.htm
U.S.
Industrial Production Drops More Than
Forecast
Industrial
production in the U.S. fell for the 14th time in the last 15 months as factories
trimmed unwanted stockpiles. http://www.bloomberg.com/apps/news?pid=20601087&sid=a2TKpE7UEkGc&refer=home
Decade
of Losses Forces Investors in Their 30s to Start All
Over
Investors
in their 30s were too young to build their retirement accounts in the rising
stock market of the 1980s and 1990s. Over those two decades, the Standard &
Poor’s 500 Index climbed an average of 18 percent a year, including reinvested
dividends, according to data compiled by Bloomberg. In the 2000s through March
31, the benchmark fell 4.7 percent annually. http://www.bloomberg.com/apps/news?pid=20601213&sid=aSg6DWkihxUw&refer=home
Consumer
Prices in 1st Annual Drop Since '55
A key
index of prices paid by consumers fell in March and registered its first annual
decline since 1955, the government said Wednesday, as prices for energy and food
slumped in the weak economy. http://money.cnn.com/2009/04/15/news/economy/CPI_March/index.htm
Mortgage
Applications Dip
Mortgage
applications to finance the purchase of homes and to refinance existing loans
fell last week even as U.S. home loan rates treaded water just above record
lows, the Mortgage Bankers Association said on Wednesday. http://money.cnn.com/2009/04/15/real_estate/mortgage_applications.reut/index.htm
Report:
Congress Spent $20 Billion on Earmarks for Fiscal
2009
Alaska
led the nation in pork with $322 per capita. http://www.govexec.com/story_page.cfm?articleid=42483&dcn=e_gvet
Peace
Activists Arrested After Protesting U.S. Drones in Nevada
U.S.
drone bombings have reportedly killed 687 Pakistani civilians since 2006. During
that
time, U.S. Predator drones carried out sixty strikes inside Pakistan, but hit
just
ten of their actual targets. Last week, a group of peace activists last week
staged
the first major act of civil disobedience against the drone attacks in the
United
States. Fourteen people were arrested outside the Creech Air Force Base in
Nevada,
where Air Force personnel pilot the unmanned drones used in Pakistan. We
speak
with longtime California peace activist Father Louis Vitale, who was
among
those
arrested, and with Jeff Paterson of Courage to Resist. http://www.democracynow.org/2009/4/14/peace_activists_arrested_after_protesting_us
DHS
Sees Resurgence in Rightwing Extremism
"The
consequences of a prolonged economic downturn--including real estate
foreclosures,
unemployment, and an inability to obtain credit--could create a
fertile recruiting environment for rightwing extremists and even result in
confrontations
between such groups and government authorities," according to a new
assessment from the Department of Homeland Security Office of Intelligence
and Analysis. http://www.fas.org/irp/eprint/rightwing.pdf
Architects
Chosen for Black History Museum
A team
led by David Adjaye, the celebrated Tanzanian-born architect, will design the
National Museum of African American History and Culture.
http://www.nytimes.com/2009/04/15/arts/design/15smit.html
April 15, 2009
U.S.
Economy: Retail Sales, Producer Prices Declined in
March
Retail sales
in the U.S. unexpectedly dropped in March for the first time in three months,
raising concern the biggest part of the economy may falter once again heading
into the second quarter. http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0hzvJxibaw&refer=home
U.S.
Stocks Fall on Retail, Prices Data, Goldman Share
Sale
U.S.
stocks retreated, halting a three-day advance, as unexpected declines in retail
sales and producer prices offset optimism from Federal Reserve Chairman Ben
S. Bernanke that the economy’s slump may be slowing. http://www.bloomberg.com/apps/news?pid=20601087&sid=aSsHuu8hsXXM&refer=home
Carlyle’s
Pension Investment Said to Spark Probe
Carlyle
Group is being probed by New York prosecutors and the U.S. Securities and
Exchange Commission over whether the world’s second-largest private- equity firm
made illegal payments to intermediaries to secure $1.3 billion in investments
from the state’s pension fund, according to a person with knowledge of the
matter. http://www.bloomberg.com/apps/news?pid=20601087&sid=afIU3zVZnciU&refer=home
Grapes
of Wrath, a Classic for Today?
The
Grapes of Wrath, published exactly 70 years ago, can be seen as a prophetic
novel - rooted in the tragedies of the Great Depression, but speaking directly
to the harsh realities of 2009, writes Steinbeck scholar Robert DeMott. http://news.bbc.co.uk/2/hi/americas/7992942.stm
Judges
Rule Franken Winner; Coleman to Appeal
Three
judges soundly rejected Norm Coleman's attempt to reverse Al Franken's lead in
the U.S. Senate election late Monday, sweeping away the Republican's claims in a
blunt ruling Coleman promised to appeal. http://www.startribune.com/politics/national/senate/42932907.html
Congress
to Consider Racial Wealth Gap
As
Washington policymakers screamed bloody murder last month over bonus payments
for a few hundred AIG employees, another much larger scandal flew virtually
unnoticed on Capitol Hill: The divide between the wealth of blacks and whites —
already gaping — grew again. http://coloradoindependent.com/26401/congress-considers-reforms-to-narrow-widening-divide-between-whites-and-blacks
Investigators
Take Closer Look at Rep. Jackson in Blagojevich
Case
Prosecutors
want to know if Representative Jesse L. Jackson Jr. initiated any deals with the
former Illinois governor in exchange for a Senate appointment. http://www.nytimes.com/2009/04/14/us/politics/14jackson.html
In
Georgetown Speech, Obama Offers Cautious Optimism
President
Obama today offered an optimistic assessment of efforts to revive the economy
but warned that tough times are still ahead as the nation rebuilds its financial
system. http://www.washingtonpost.com/wp-dyn/content/story/2009/04/14/ST2009041401324.html
Bernanke
Sees Signs U.S. Contraction May Be Slowing
“I am
fundamentally optimistic about our economy,” Bernanke said in prepared remarks
for a speech today in Atlanta. “Today’s economic conditions are difficult, but
the foundations of our economy are strong, and we face no problems that cannot
be overcome with insight, patience, and persistence.” http://www.bloomberg.com/apps/news?pid=20601087&sid=aGq2PG.ZpdkU&refer=home
Unions
Go on Attack Over Paterson's Layoff Threat
Gov.
David A. Paterson's warning that he may lay off thousands of state workers if he
cannot get unions to agree to a pay cut has aroused a fierce advertising
campaign. http://www.nytimes.com/2009/04/14/nyregion/14paterson.html
April 14, 2009
Cash
Beats Stocks for First Time in U.S. Survey: Chart of
Day
U.S.
individual investors held more assets in cash than in stocks last month for the
first time in more than two decades, meaning they have plenty of money to fuel
the current surge in share prices. http://www.bloomberg.com/apps/news?pid=20601109&sid=atTee1wJk4h8&refer=home
Longer
Unemployment for Those 45 and Older
Unemployed
baby boomers, many of whom believed they were still in the prime of their
careers, face some of the steepest odds of any job seekers in this hard market.
http://www.nytimes.com/2009/04/13/us/13age.html
Plan
to Change Student Lending Sets Up a Fight
Private
student lenders are moving against President Obama's plan to end a subsidized
loan program and redirect billions in bank profits to needy students.
http://www.nytimes.com/2009/04/13/us/politics/13student.html
Poll:
Three-Quarters Favor Relations With Cuba
A new
poll shows that two-thirds of Americans surveyed think the U.S. should lift its
travel ban on Cuba, and three-quarters think the U.S. should end its five-decade
estrangement with the country. http://www.cnn.com/2009/POLITICS/04/10/poll.cuba/index.html
Students
Send the CIA Packing
Students
and activists forced the Central Intelligence Agency (CIA) into a last-minute
cancellation of its recruitment session at the University of Illinois at
Urbana-Champaign. For a third year, members of the Campus Antiwar Network (CAN),
Iraq Veterans Against the War and the International Socialist Organization
joined forces to protest the CIA, but this is the first year that the agency
canceled, after activists exposed the agency's dark history of assassinations,
political sabotage and torture. http://socialistworker.org/2009/04/13/students-send-cia-packing
April 13, 2009
U.S.
Budget Deficit Nears $U.S. 1 Trillion
The US
budget deficit accelerated in March to hit a record nearly $US1 trillion ($A1.41
trillion) in the first half of the current fiscal year as the government moved
to bail out troubled institutions.
http://news.theage.com.au/breaking-news-business/us-budget-deficit-nears-us1-trillion-20090411-a32f.html
Fed
Pumps Foreign Currency Into U.S. Banks
The
Fed is already printing trillions of U.S. dollars and pumping them into the
global economy in an effort to stave off a financial collapse. Now it plans to
start injecting foreign currency, too, according to minutes recently released
from its March meeting. How the hell can the U.S. Fed do that? Glad you asked.
http://www.huffingtonpost.com/2009/04/10/roundabout-bailout-fed-to_n_185277.html
As
Stocks Surge, Fears Linger About the Economy
The
sudden turnaround has investors wondering if the markets have bottomed out or if
larger problems are being ignored.
http://www.nytimes.com/2009/04/10/business/10markets.html
Exports
Fall, and It's Felt on the Farm
American
farmers are feeling the effects of the global economic slump as demand for U.S.
food exports falls.
http://www.nytimes.com/2009/04/10/business/10agriculture.html
Wall
Street Digs In
The
old system refuses to change. Is Obama getting the message? Wall
Street players are digging in against fundamental changes. And while it clearly
wants to install serious supervision, the Obama administration - along with
other key authorities like the New York Fed - appears willing to stand back
while Wall Street resurrects much of the ultracomplex global trading system that
helped lead to the worst financial collapse since the Depression. http://www.newsweek.com/id/193360
Spy
Satellite Agency Boss Resigns
The
head of the U.S. spy satellite agency, the National Reconnaissance Office, has
announced his resignation, a spokesman said on Thursday. http://www.reuters.com/article/politicsNews/idUSTRE5385AP20090409
Crisis
Altering Wall Street as Big Banks Lose Top Talent
With
financial institutions facing federal limits brought on after the bailouts,
veteran bankers are leaving to join start-ups and foreign
companies.
http://www.nytimes.com/2009/04/12/business/12wall.html
States
Slashing Social Programs for Vulnerable
A
large majority of states are slicing into their social safety nets, often
crippling preventive efforts that officials say would save money over
time.
http://www.nytimes.com/2009/04/12/us/12deficit.html
Ginsburg
Shares Views on Influence of Foreign Law on Her Court, and Vice
Versa
Ruth
Bader Ginsburg suggested that torture should not be used even when it might
yield important information and reflected on her role as the Supreme Court's
only female justice. http://www.nytimes.com/2009/04/12/us/12ginsburg.html
Reporter
Working on Story Critical of V.A. Has His Equipment
Confiscated
A
public radio reporter visiting a V.A. hospital earlier this week to work on a
story about veterans' healthcare was stopped by government officials
mid-interview, ordered to leave the hospital and had some of his recording
equipment confiscated. http://rawstory.com/news/2008/Reporter_working_on_story_critical_of_0410.html
What's
Dropping as Much as GM Stock? GOP Approval Rating
Republicans
have spent the first hundred days of the 111th Congress mostly down and shut
out. http://www.mcclatchydc.com/227/story/65895.html
More
Squatters Are Calling Foreclosures Home
Advocacy
groups are moving people into vacant homes, some in secret, others openly, as
civil disobedience.
http://www.nytimes.com/2009/04/10/us/10squatter.html
Obama
(as TV Salesman) Pushes Home Refinancing
Seldom
has the president sounded so much like the host of a late-night infomercial,
promoting a government Web site that tells people if they are eligible to
refinance their mortgages. http://www.nytimes.com/2009/04/10/us/politics/10memo.html
In
a Downturn, More Act as their Own Lawyers
The
economic downturn is leading more people to forgo lawyers when facing a judge,
raising questions of how fair the outcomes can really be.
http://www.nytimes.com/2009/04/10/business/10lawyer.html
Showdown
Seen Between Banks and Regulators
Industry
executives are bracing for fights with the government over repayment of bailout
money and forced sales of bad mortgages.
http://www.nytimes.com/2009/04/11/business/economy/11bank.html
Demonstrators
Want Answers Why Cops Shot and Killed Black Senior
Citizen
About
150 demonstrators marched near the neighborhood where Monroe, a 73-year-old
retired power company lineman, was gunned down by police last February outside
his home during a family cookout. The half-mile march ended without incident at
a park where the longtime civil rights activist told an even larger crowd of
almost 400 people that "to shoot an unarmed, innocent man ... is a disgrace." http://hosted.ap.org/dynamic/stories/H/HOMER_POLICE_SHOOTING?SITE=FLTAM&SECTION=US
Protesting
Students Occupy Building at New School
More
than 20 people occupied a building on the New
School campus in Greenwich Village on Friday, demanding that the school’s
embattled president, Bob
Kerrey, be ousted. But unlike a similar protest in December that was
peacefully negotiated to an end after 30 hours, Friday’s ordeal was concluded in
a few hours after the school asked the police to remove the protesters. http://www.nytimes.com/2009/04/11/nyregion/11protest.html
Videos
of New School Arrests
http://cityroom.blogs.nytimes.com/2009/04/10/video-of-new-school-arrests/
April 10-12, 2009
Traces
of Explosives in 9/11 Dust, Scientists Say
Tiny
red and gray chips found in the dust from the collapse of the World Trade Center
contain highly explosive materials — proof, according to a former BYU professor,
that 9/11 is still a sinister mystery. The next step, Jones said in a phone
interview on Monday, is for someone to investigate "who made the stuff and why
it was there." http://www.deseretnews.com/article/0,5143,705295677,00.html
Dutch
TV Show Exonerates Osama
A
Dutch TV jury has found Osama bin Laden not guilty of the Sept. 11 attacks. In
the conclusion Wednesday night to the show "Devil's Advocate" on Dutch public
broadcaster Nederland 2, the jury of two men and three women, along with the
studio audience, ruled there was no proof bin Laden was the mastermind behind
the attacks on the World Trade Center and the Pentagon in 2001. http://www.hollywoodreporter.com/hr/content_display/television/news/e3ie9cf6d4fe9496d052885db4114f0c656
Pentagon
Preps for Economic Warfare
The
Pentagon sponsored a first-of-its-kind war game last month focused not on
bullets and bombs — but on how hostile nations might seek to cripple the U.S.
economy, a scenario made all the more real by the global financial crisis. http://dyn.politico.com/printstory.cfm?uuid=88593103-18FE-70B2-A835D1F6D5DC8F3A
Obama
Begins Cybersecurity Review
A
review of how well the U.S. thwarts spies and malicious hackers has been started
by President Barack Obama.
http://news.bbc.co.uk/2/hi/technology/7880695.stm
Homeland
Security: Spies 'Infiltrate U.S.
Power Grid'
The
U.S government has admitted the nation's power grid is vulnerable to cyber
attack, following reports it has been infiltrated by foreign
spies.
http://news.bbc.co.uk/2/hi/technology/7990997.stm
Cable
Sabotage Cripples Internet for Parts of Silicon
Valley
Deliberate
sabotage is being blamed for a sizable internet and telephone service outage
Thursday in Silicon Valley. http://blog.wired.com/27bstroke6/2009/04/cable-sabotage.html
Security-Clearance
Checks For OPM Allegedly Falsified
Half a
dozen investigators conducting security-clearance checks for the federal
government have been accused of lying in the reports they submitted to the
Office of Personnel Management, which handles about 90 percent of the background
inquiries for more than 100 agencies. http://www.washingtonpost.com/wp-dyn/content/article/2009/04/08/AR2009040803841.html
Obama
Seeks Extra Funds for Wars
U.S.
President Barack Obama has asked Congress for an extra $83.4bn (£56.7bn) to fund
operations in Iraq and Afghanistan this year.
http://news.bbc.co.uk/2/hi/americas/7993177.stm
Banks
Drive U.S. Stocks Up Sharply
Big
gains in banking stocks have pushed Wall Street sharply higher after one of the
biggest banks in the US said it would make record profits this quarter.
http://news.bbc.co.uk/2/hi/business/7993003.stm
Dollar
Rises on Optimism Worst of U.S. Economic Crisis Is
Over
The
dollar rose against the euro, heading for the biggest weekly gain in three
months, on optimism the worst of the crisis is over in the world’s largest
economy. http://www.bloomberg.com/apps/news?pid=20601087&sid=asAdxqV8IiNo&refer=home
Imports
Plunge
The
U.S. trade deficit tumbled in February to the lowest level in nine years as
collapsing demand from consumers and companies reverberated around the globe. http://globaleconomicanalysis.blogspot.com/2009/04/imports-plunge-us-trade-gap-at-nine.html
Obama
Orders U.S. to Buy 17,600 New Cars by June
1
President
Barack
Obama said the government is speeding up its purchase of 17,600 new
American- made cars for the government fleet by June 1. http://www.bloomberg.com/apps/news?pid=20601070&sid=aXDIsH1N1L54&refer=home
Fed
Says Plan Now to Avert Inflation
The
United States economy will skid more deeply into recession in coming months,
Federal Reserve policy-makers warned on Thursday, but it is time to start
planning how to wind down spending to avert an inflationary surge. http://abcnews.go.com/US/wireStory?id=7302017
Treasury
Asks Banks to Be Mum on "Stress Tests"
Officials
have asked banks not to talk about "stress tests" when they release their
first-quarter results.
http://money.cnn.com/2009/04/09/news/economy/stress_test_quiet.reut/index.htm
Can
U.S. Courts Free Guantanamo Prisoners?
In
what's being called the first major challenge of the Obama administration's
detention policy, lawyers on Monday filed a petition with the U.S. Supreme Court
to review the case of Kiyemba v. Obama, in which a Court of Appeals ruled that
federal courts do not have the power to order innocent Guantanamo detainees
released into the United States. http://washingtonindependent.com/37607/can-us-courts-free-innocent-gitmo-prisoners
On
Defense Cuts, Obama Holds Cards
Congress
has little chance of stopping President Obama’s sweeping changes to the military
budget, which would scrap several high-profile weapons programs. http://thehill.com/leading-the-news/on-defense-cuts-obama-holds-cards-2009-04-07.html
Ballot
Review Gives Franken Solid Advantage
Democrat
Al Franken’s lead in Minnesota’s long-disputed Senate race increased to 312
votes Tuesday, making it mathematically impossible for Norm Coleman to win his
state trial challenging the election outcome. http://www.cqpolitics.com/wmspage.cfm?docID=news-000003094559
Obama
to Push Immigration Bill Despite the Risks
The
new effort would include looking for a path for illegal immigrants to become
legal, a senior administration official said.
http://www.nytimes.com/2009/04/09/us/politics/09immig.html
U.S.
Imagines the Bailout as an Investment Tool
The
White House is considering encouraging taxpayers to invest in the bank bailouts
that they are already financing.
http://www.nytimes.com/2009/04/09/business/09fund.html
April 09, 2009
Banks
Brace for Derivatives 'Big Bang'
Credit
default swap dealers are cleaning up a dark corner of the derivatives market,
but the risk of a blowup remains.
http://money.cnn.com/2009/04/07/news/big.bang.fortune/index.htm?section=money_mostpopular
Former
Sen. Ted Stevens' Prosecutors Face Criminal
Investigation
A
federal judge says Justice Department lawyers' missteps in the case against the
longtime Alaska lawmaker were 'too serious and too numerous' to be left to an
internal investigation. http://www.latimes.com/news/la-na-stevens8-2009apr08,0,3466389.story?track=ntothtml
New
Gov Rules Retiring Small Business 401K Plans
“As
long as we make small companies contribute in the worst of times, a lot won’t
have” retirement savings plans, said David
Wray, president of the Profit-Sharing/401k Council of America in Chicago. “They’re so
close to the margin that a 3 percent contribution can make or break these guys.
They can’t put their company at risk just because they want this benefit.” http://www.bloomberg.com/apps/news?pid=20601213&sid=a3IZlR2wXLjw&refer=home
FBI
Defends Disruptive Raids on Texas Data Centers
The
FBI on Tuesday defended its raids on at least two data centers in Texas, in
which agents carted out equipment and disrupted service to hundreds of
businesses. The raids were part of an investigation prompted by complaints from
AT&T and Verizon about unpaid bills allegedly owed by some data center
customers, according to court records. One data center owner charges that the
telecoms are using the FBI to collect debts that should be resolved in civil
court. But on Tuesday, an FBI spokesman disputed that charge. http://blog.wired.com/27bstroke6/2009/04/data-centers-ra.html
U.S.
Stock Futures Fluctuate as Life Insurers, Builders
Rally
U.S.
stock futures swung between gains and losses as a takeover in the homebuilding
industry and speculation life insurers will be bailed out by the government
offset a drop in commodity producers. http://www.bloomberg.com/apps/news?pid=20601087&sid=aKdP48oaAa4E&refer=home
‘I
Want You,’ Uncle Sam Says to Unemployed Wall Street
Analysts
Uncle
Sam to Wall Street: I want you. Underscoring Washington’s appeal as the
financial industry shrinks, about 400 finance professionals have signed up for a
New York job fair this month featuring nine federal agencies ranging from the
Federal Deposit Insurance Corp. to the FBI and the Securities and Exchange
Commission. That’s double the tally at similar events last year, organizers say.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aCTNQjrpq2RI&refer=home
Pentagon
Spends $100 Million to Fix Cyber Attacks
The
Pentagon spent more than $100 million in the last six months responding to and
repairing damage from cyber attacks and other computer network problems,
military leaders said Tuesday. http://www.google.com/hostednews/ap/article/ALeqM5i-l6vKmsnP1XSIDouvQ2hcc2mNTAD97DPBPO0
Feb.
2002: Pentagon
Ponders Disinformation Campaign
The
burden of proof will almost surely shift against the Pentagon if it goes through
with plans for a new propaganda campaign that, according to Tuesday's New York
Times, might include "disinformation" to persuade public opinion overseas to
back Washington's war against terrorism. http://www.atimes.com/terror/DB22Dk02.html
Poll:
74 Percent Support Higher Taxes On The Rich
Almost
three-quarters of Americans think it is a good idea to raise taxes on people
making more than $250,000 per year, according to the latest CBS News/New York
Times poll. http://www.cbsnews.com/blogs/2009/04/06/business/econwatch/entry4923732.shtml
Exoskeleton
Gives Soldiers Super Strength
Stronger,
faster and harder is the promise of a new exoskeleton developed by Lockheed Martin for U.S. soldiers.
Dubbed the Human Universal Load Carrier, or HULC, the device helps a soldier carry up to 200 pounds at a top speed of 10 mph. http://dsc.discovery.com/news/2009/04/06/hulc-exoskeleton.html
April 08, 2009
Report
Outlines Medical Workers’ Role in Torture
Medical
personnel were deeply involved in the abusive interrogation of terrorist
suspects held overseas by the Central
Intelligence Agency, including torture, and their participation was a “gross
breach of medical ethics,” a long-secret report by the International Committee
of the Red Cross concluded. http://www.nytimes.com/2009/04/07/world/07detain.html
Economy
Falling Years Behind Full Speed
The
slack economy's loss of output is running at $1 trillion a year, and it will
take years for employers, investors and consumers to bring it back to full
speed. http://www.nytimes.com/2009/04/07/business/economy/07capacity.html
Cities
Collapsing Throughout the USA
“With
enough abandoned lots to fill the city of San Francisco, Motown is 138 square
miles divided between expanses of decay and emptiness and tracts of
still-functioning communities and commercial areas. Close to six barren acres of
an estimated 17,000 have already been turned into 500 “mini- farms,”
demonstrating the lengths to which planners will go to make land productive. http://www.blacklistednews.com/news-3860-0-13-13--.html
U.S.
Consumer Credit Decreased by $7.48 Billion
The
pace of borrowing by U.S. consumers fell in February as fewer Americans sought
credit to make purchases amid what may become the worst recession in seven
decades. http://www.bloomberg.com/apps/news?pid=20601087&sid=aPPY7XFSHnzk&refer=home
U.S.
Stocks, Oil Retreat as Dollar, Treasury Bonds
Advance
U.S.
stocks slid for a second day after investors from George
Soros to Marc
Faber predicted the rebound in equities will falter as the market braces for
a seventh straight quarter of declining earnings. The dollar rose against most
currencies, oil fell and Treasuries gained. http://www.bloomberg.com/apps/news?pid=20601087&sid=aiM9jQWdgWQg&refer=home
Poll
Finds New Optimism on Economy Since Inauguration
President
Obama is enjoying some success in rebuilding confidence in a troubled nation,
according to the latest New York Times/CBS News poll.
http://www.nytimes.com/2009/04/07/us/politics/07poll.html
Military
Budget Reflects a Shift in U.S. Strategy
Defense
Secretary Robert M. Gates announced a budget that cuts traditional weapons
programs while adding resources to fight insurgencies.
http://www.nytimes.com/2009/04/07/us/politics/07defense.html
Report
Calls CIA Detainee Treatment 'Inhuman'
Medical
officers who oversaw interrogations of terrorism suspects in CIA secret prisons
committed gross violations of medical ethics and in some cases essentially
participated in torture, the International Committee of the Red Cross concluded
in a confidential report that labeled the CIA program "inhuman." http://www.washingtonpost.com/wp-dyn/content/article/2009/04/06/AR2009040603654.html?wpisrc=newsletter
Former
FBI Chief Defends Flow of Money to Saudi
Ambassador
Former
FBI Director Louis J. Freeh says $2 billion that flowed from a British arms
manufacturer to U.S. bank accounts controlled by Prince Bandar bin Sultan, then
Saudi ambassador to the U.S., was not a bribe, but was instead part of a complex
barter involving the exchange of Saudi oil for British fighter jets.
http://www.latimes.com/news/nationworld/nation/la-na-freeh7-2009apr07,0,5187842.story
Report
Envisions Shortage of Teachers as Retirements
Escalate
Over
the next four years, more than a third of the nation's 3.2 million teachers
could retire, depriving classrooms of experienced
instructors.
http://www.nytimes.com/2009/04/07/education/07teacher.html
Why
Didn't Fed Force Big Banks to Take Less of AIG
Bailout?
The
Federal Reserve Bank of New York in November chose not to pursue tough
negotiations with large foreign and domestic banks and instead allowed them to
receive 100 cents on the dollar in government funds to settle tens of billions
of dollars of exotic financial bets guaranteed by American International Group.
http://www.mcclatchydc.com/politics/story/65609.html
Obama
Administration Warns of Mortgage Relief Scams
Scams
targeting struggling homeowners seeking to stave off foreclosure have
skyrocketed, federal officials said Monday, disclosing that they are
investigating more than 2,100 companies and have filed legal actions against an
Irvine firm and three others.
http://www.latimes.com/business/la-fi-foreclosure7-2009apr07,0,4424356.story
NSA
Spying on Americans to Continue Under Obama
Under
the Obama Administration, the NSA hopes to soften its image and improve public
opinion concerning its warrantless dragnet spying program--with a little help
from Ann Landers. The NSA has contracted with Landers and dozens of other
personal advice columnists, many of whom have been laid off from their newspaper
jobs as that media sector
continues
to lag, to help provide advice to the millions of ordinary Americans whose
communications are continually being intercepted by the secretive agency. http://www.eff.org/issues/nsa-spying
Google
Offers Free, Ad-Supported Kitchen Appliances
Google
today announced a new line of high performance kitchen appliances, available to
US customers for free. The catch? The announced range, refrigerator, and
dishwasher all include built in web-enabled cameras that monitor the contents of
each device and touch-screen LCD displays that provide a stream of "relevant"
advertisements.
http://www.eff.org/deeplinks/2009/03/google-begins-behavioral-targeting-ad-program
Californians
Slam Brakes on Gas Use
An
economic meltdown may not be the preferred way to scale back California's
dependence on foreign oil, but it seems to be doing the trick. http://www.mcclatchydc.com/homepage/story/65665.html
April 07, 2009
Economist:
U.S. Collapse Driven by 'Fraud'
In an
explosive interview on PBS' Bill Moyers Journal, William K. Black, a
professor of economics and law with the University of Missouri, alleged that
American banks and credit agencies conspired to create a system in which
so-called "liars loans" could receive AAA ratings and zero oversight, amounting
to a massive "fraud" at the epicenter of U.S. finance. http://rawstory.com/news/2008/Economist_US_collapse_driven_by_fraud_0404.html
Banks
Starting to Walk Away on Foreclosures
Banks
are quietly declining to take possession of properties at the end of the
foreclosure process because the cost of the ordeal exceed the value of the real
estate. http://www.nytimes.com/2009/03/30/us/30walkaway.html
American
Airlines Union Goes Viral Against Execs
Unions
at American Airlines have picketed, worn buttons and rented billboards to
protest what they consider unseemly management bonuses. Now they're using an
interactive Web site game to skewer their CEO. http://www.washingtonpost.com/wp-dyn/content/article/2009/04/02/AR2009040204537.html
Recession
Alters College Admission Process
"Students
who need financial aid are applying to a greater variety of schools and are
applying to some schools they feel they can definitely afford to go to if
nothing comes through for them in terms of financial aid," Siegel said. http://www.cbsnews.com/stories/2009/04/05/eveningnews/main4920481.shtml
Consumers
Fall Behind on Loans at Record Rate
A
record number of consumers are falling delinquent or into default on their
loans, a problem that some economists say will only get worse this year. http://www.usatoday.com/money/perfi/credit/2009-04-05-credit-delinquencies-defaults-rise_N.htm
Poll
Finds Nation Most Polarized in Decades Under
Obama
As
President Obama travels across Europe, a new poll out at home shows he's failed
so far to forge any kind of bipartisanship and has polarized the country. http://www.mcclatchydc.com/251/story/65592.html
Judge:
U.S. Used Mentally Ill Witness in Guantanamo
Cases
The
Justice Department improperly withheld important psychiatric records of a
government witness who was used in a "significant" number of Guantanamo cases, a
federal judge has concluded. http://www.mcclatchydc.com/251/story/65608.html
Survivalists
2.0: Regular People Getting Ready for the Worst
Spirko,
an Army veteran and self-described "stark-raving-mad Libertarian," is part of a
growing movement of people who are preparing for a disaster natural, economic or
man-made. Referred to as "modern survivalists" or "preppers," they are taking
steps to protect and provide for their families should something bad happen. http://www.mcclatchydc.com/226/story/65600.html
No
Health Insurance for Many Employed Californians
At
some point during the past two years, newly released studies show that more than
one in every three Californians under 65 went without health insurance for at
least a month, and researchers say there may be no recovery in sight, even when
the recession lifts. http://www.mcclatchydc.com/256/story/65414.html
Boats
Too Costly to Keep Are Littering Coastlines
Boat
owners are sandpapering over the names and filing off the registry numbers,
doing their best to render the boats, and themselves, untraceable. http://www.nytimes.com/2009/04/01/business/01boats.html
April 06, 2009
No
End in Sight to Job Losses; 663,000 More Cut in
March
The
U.S. unemployment rate reached 8.5 percent, its highest level in a
quarter-century, in a sign of the severity of the
downturn.
http://www.nytimes.com/2009/04/04/business/economy/04jobs.html
Optimism
About U.S. Banks Might Be Misplaced
The
U.S. banking system showed some signs of thawing this week, but it may prove to
be a false spring. http://www.reuters.com/article/wtUSInvestingNews/idUSTRE52Q72I20090327
Did
Goldman Sachs Rig Oil Price to Bankrupt Pipeline
Firm?
How
Goldman Sachs was at the center of the oil trading fiasco that bankrupted
pipeline giant Semgroup.
http://www.forbes.com/forbes/2009/0413/096-sachs-semgroup-goldman-goose-oil.html
White
House Debate Led to Plan to Widen Afghan Effort
The
administration's plan for Afghanistan followed a fierce internal debate in which
the vice president urged caution against a quagmire, while military advisers
argued for more troops. http://www.nytimes.com/2009/03/28/us/politics/28prexy.html
Inquiry
Asks Why A.I.G. Paid Banks
Lawmakers
and the New York attorney general began inquiries into how tens of billions of
taxpayer dollars moved from A.I.G. to several dozen big banks. http://www.nytimes.com/2009/03/27/business/27cuomo.html
Rising
Fear of a Future Oil Shock
Sharp
reductions in investments and low oil prices could curb future supplies, leaving
the world to face a new energy shock when the economy picks up, according to a
new
study. http://www.nytimes.com/2009/03/27/business/energy-environment/27oil.html
Judge
Rules Some Prisoners at Bagram Have Right of Habeas
Corpus
A
federal judge ruled that some prisoners held by the United States military in
Afghanistan have a right to challenge their imprisonment.
http://www.nytimes.com/2009/04/03/washington/03bagram.html
FAA
Says Public Accountability Is Dangerous
The
Federal Aviation Administration thinks you can't handle the truth. The agency
has quietly moved to ban public disclosure of bird-strike records — information
that chronicles where and when commercial aircraft were hit by birds. http://blog.wired.com/27bstroke6/2009/03/faa-says-public.html
FBI-Muslim
Relations Strained as Government Looks for
Terrorists
FBI
informant sought to radicalize and recruit ‘terrorists’ from Muslim community in
California. http://abcnews.go.com/US/story?id=7190735
Texas
Universities Voice Opposition to Bill That Would Allow Guns on
Campuses
Texas
universities are firing back against a bill that would permit students to carry
handguns on campus. http://www.mcclatchydc.com/200/story/65011.html
Cities
Deal With a Surge in Shanty Towns
Reminiscent
of the Great Depression, encampments of homeless people are growing in such
cities as Fresno, Calif.
http://www.nytimes.com/2009/03/26/us/26tents.html
U.S.
Plan Seeking Expanded Power in Seizing Firms
The
Obama administration and the Federal Reserve began a full-court press to expand
federal power to seize control of troubled financial institutions. http://www.nytimes.com/2009/03/25/business/economy/25web-bailout.html
Cattle
Rustling Plagues Ranchers
Farms
in southwestern Missouri are suffering through a surge of cow thefts, with a
total of 93 Brahman cows stolen in the last six months.
http://www.nytimes.com/2009/03/25/us/25rustling.html
U.S.
Cities Reel from Store Closings
Survey:
As more merchants shutter stores amid eroding sales, major cities struggle to
replace these vacant storefronts with new businesses.
http://money.cnn.com/2009/03/26/news/economy/cities_storeclosings/index.htm
Paid
Handsomely to Stay
Despite
the furor over the bonuses paid by A.I.G., executives at more than a dozen other
firms that received government money stand to collect similar bonuses.
http://www.nytimes.com/2009/03/26/business/26pay.html?
Taxing
Times for the FDIC
The
toxic-asset plan hands new duties to an agency that, thanks to soaring bank
failures, already has its hands full.
http://money.cnn.com/2009/03/25/news/fdic.hands.full.fortune/index.htm
Roubini
Says Geithner Plan Won’t Prevent Bank
Nationalizations
U.S.
Treasury Secretary Timothy
Geithner’s new plan to remove toxic assets from the books of the nation’s
banks won’t stop some financial companies from having to be nationalized, said
Nouriel Roubini, the New York University professor who predicted the financial
crisis. http://www.bloomberg.com/apps/news?pid=20601087&sid=aZXiD0hnsSD8&refer=home
Jobless
Rate Exceeds 10% in Three More U.S. States
The
number of U.S. states with a jobless rate exceeding 10 percent almost doubled in
February as the worst employment slump in the postwar era spread. http://www.bloomberg.com/apps/news?pid=20601087&sid=aBTa0e1ODD5k&refer=home
New
Bank Failures: Week of March 30
For
the second straight week, the Federal Deposit Insurance Corporation was unable
to simply sell a failed institution's deposits to another institution. Instead,
SunTrust Bank of Atlanta, held by SunTrust Banks Inc. (STI Quote - Cramer on STI - Stock Picks),
agreed to act as paying agent on the behalf of the FDIC receivership. http://www.thestreet.com/story/10479201/1/new-bank-failures-week-of-march-30.html
Deal
Is Reached to Raise Taxes on Top Earners in New
York
The
new plan would raise $4 billion a year by creating two new tax brackets, the
highest one affecting those who earn $500,000 or more.
http://www.nytimes.com/2009/03/29/nyregion/29tax.html
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