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

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

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

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

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

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

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

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

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

“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

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

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

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

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

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

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

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

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