Report suggests that the administration doubts mortgage giant firms will be able to raise needed capital, making a government takeover inevitable
NEW YORK (CNNMoney.com) — Shares of Fannie Mae and Freddie Mac tumbled Monday on a report suggesting that a government takeover of the troubled mortgage finance giants is inevitable.
Shares of Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) fell 22% and 25% respectively. Both companies have seen their shares plunge more than 80% since the start of the year.
A geopolitical convulsion measuring six points on the Richter scale is bound to produce aftershocks. The reverberations of the conflict in the Caucasus are beginning to be felt. We may be unwittingly bidding farewell to the “war on terror”. In any case, the international community has lost interest in Osama bin Laden.
Russian President Dmitry Medvedev stated Sunday that Russia would begin to withdraw its troops from Georgia on August 18. Peacemakers and units of the 58th army, which participated in the peace-enforcement operation after Georgia’s aggression in South Ossetia, will thus leave the territory of Georgia. The decision marked Moscow’s initiative in the implementation of the document originally signed by Dmitry Medvedev and French President Nicolas Sarkozy.
It seems that Georgia does not intend to abide by its obligations. Nothing has been reported about Georgia’s plans to pull out its troops from the conflict zone. Moreover, Russian defense officials said that Georgia was conducting subversive military activities in the Caucasus. To crown it all it was said that Georgia was developing a massive provocation against Russia in the town of Gori. Read the rest of this entry »
This explanation does make sense of otherwise incomprehensible events. The author, however, fails to point out the relationship of Obama to the anti-Russian agenda of Brzezinski and Soros. The fact that McCain has stolen the Democrats clothes on this issue also then explains another peculiarity of this affair: the fact that the various left networks have, for the most part, suddenly stopped banging the anti-Russian drum.
Is it possible that this time the October surprise was tried in August, and that the garbage issue of brave little Georgia struggling for its survival from the grasp of the Russian bear was stoked to influence the U.S. presidential election?
Hasan Suroor The Hindu
LONDON: The British government is facing embarrassment over a U.N. report that has slammed it for enacting laws that, it says, threaten free speech and human rights.
The report from the U.N. Committee on Human Rights specifically refers to the Terrorism Act, 2006, the strengthened Official Secrets Act and Britain’s stringent libel laws and said that cumulatively they are having a “disproportionate” effect of freedom of expression and civil liberties. According to a summary in The Guardian, the report also expressed concern over the move to extend the period for which terror suspects can be detained without being charged. Read the rest of this entry »
RTE
There have been many tributes to the singer and entertainer Ronnie Drew, who has died following a long illness.
Mr Drew died in St Vincent’s Private Hospital in Dublin on Saturday afternoon, aged 73.
He is survived by his son Phelim, daughter Cliona and his grandchildren.
President McAleese said Ronnie Drew had brought great pleasure to people at home and abroad and had re-energised and refreshened Ireland’s unique musical heritage.
The Taoiseach, Brian Cowen, said that the Dubliners singer had been an iconic figure in Irish music over the past five decades.
The Minister for Arts, Sport and Tourism, Martin Cullen, said that Ronnie Drew was “truly a Dublin icon”.
U2 singer Bono said: “Ronnie has left his earthly tour for one of the heavens… they need him up there… it’s a little too quiet and pious.”
We need to learn the issues. People are unarmed. That is, people know that they’re getting shafted, but they don’t really know exactly how. Read the rest of this entry »
TEHRAN (AFP) — Iran said it successfully launched its first domestically produced satellite into orbit on Sunday, a move that could further exacerbate tensions with the West over its nuclear drive.
“President (Mahmoud) Ahmadinejad was at the lanch of the communications satellite Omid (Hope) from Iran’s space station,” government spokesman Gholamhossein Elham said, according to the Fars news agency.
“It was launched into space on his order,” it added.
A statement from the Iranian armed forces said it was the first launch of the domestically-built satellite, the official news agency IRNA reported. Read the rest of this entry »
Iraq reserves right to hold Blackwater trial
BAGHDAD (AFP) — Iraq on Sunday said it reserves the right to put on trial six guards working for private security firm Blackwater USA for their alleged role in the killing of 17 Iraqi civilians in Baghdad last year.
“There is information that half a dozen Blackwater guards who have been accused of shooting and killing 17 Iraqis are to be tried in Washington,” government spokesman Ali al-Dabbagh told reporters. Read the rest of this entry »
