Tuesday, July 15 2008

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Tuesday, July 15, 2008

Fannie and Freddie go to Washington

Despite promises from the Department of the Treasury and the Federal Reserve Board that they will protect Freddie Mac and Fannie Mae, shares in the mortgage lenders remained unstable. The Treasury is asking Congress to approve a multibillion-dollar rescue plan, while Ben Bernanke is set to testify on monetary policy this week.

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Obama and the NAACP, race and the race for the White House

Presidential hopeful Barack Obama spoke before the NAACP's 99th Annual Convention Monday night. The speech comes amid tough times: Rev. Jesse Jackson, a black leader and presidential hopeful in 1984 and 1988, was caught on tape criticizing the senator, and the organization’s relevance has been questioned as it ages.

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Luck: What is it? And how can I get it?

While the 21st century marks an era of technology and scientific innovation, the belief in luck and superstition still remains a vital force in many of our lives. But what is luck? And what can you do to bring more of it into your life?

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Court cases deepen rifts between the religious and the secular in Turkey

In a major court case, Turkey's ruling AK Party has been accused of subverting the country's secular government. The Turkish constitutional court is expected to rule in a few weeks' time on whether the party should be shut down and its leaders banned from national politics. Also, prosecutors in Turkey have indicted 86 people from Ergenekon, a mysterious nationalist group, over an alleged coup. Many are still at large.

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The songs that torture us

“Babylon” by Welsh singer-songwriter David Gray was a hit a few years ago, but apparently it’s also a hit among interrogators at the military facility at Guantanamo Bay, Cuba.

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A bold announcement on offshore drilling brings little relief to drivers

Gas prices are still soaring, pressuring President Bush to lift an executive ban on offshore drilling. The action has no practical effect unless Congress follows suit, but the political payoff is clear: the president says drilling will increase domestic oil production and help drive down prices — Congress is holding it up. Where else is there oil to be had?

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Love it or leave it: The All-Star Game

Baseball’s All-Stars (and a few guys who aren’t so good) go to Yankee Stadium Tuesday night. But is it supposed to decide home-field advantage or be a showcase for the MLB's 30 teams?

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Struggling carmaker GM likely to restructure again

In Detroit this morning, General Motors Corp.'s Rick Waggoner is expected to announce another company restructuring "to align the business to current market conditions." Those would be the dwindling cash position, lagging truck and SUV sales, the tanking stock price and increased competition from Japanese carmakers.

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