March 2008 News History Archives

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March 31, 2008 News URL: #March-31-2008-News
20080331 Monday

- Government - Food - People - Families - Poverty - Disasters - Fuel - Prices - Politics - History
"As Jobs Vanish and Prices Rise, Food Stamp Use Nears Record." ... "Driven by a painful mix of layoffs and rising food and fuel prices, the number of Americans receiving food stamps is projected to reach 28 million in the coming year, the highest level since the aid program began in the 1960s." ... "The number of recipients, who must have near-poverty incomes to qualify for benefits averaging $100 a month per family member, has fluctuated over the years along with economic conditions, eligibility rules, enlistment drives and natural disasters like Hurricane Katrina, which led to a spike in the South." ... "But recent rises in many states appear to be resulting mainly from the economic slowdown, officials and experts say, as well as inflation in prices of basic goods that leave more families feeling pinched. Citing expected growth in unemployment, the Congressional Budget Office this month projected a continued increase in the monthly number of recipients in the next fiscal year, starting Oct. 1 — to 28 million, up from 27.8 million in 2008, and 26.5 million in 2007." ... "The percentage of Americans receiving food stamps was higher after a recession in the 1990s, but actual numbers are expected to be higher this year." -By Erik Eckholm -NYTimes

- Food - Agriculture - Plant - Land - History - Ethanol - Companies - Animal - Consumers
"Corn forecast suggests rise in food prices is ahead." ... "U.S. [United States] farmers plan to cut back corn planting and boost soybean production, a shift that could send ripples from the farm belt to your grocery bills." ... "The U.S. Department of Agriculture on Monday released its prospective plantings report. The report, which came amid surging grain prices, bore news that affects grain farmers, livestock producers, ethanol companies, food processors and, ultimately, consumers." ... "Corn plantings are expected to fall 8 percent this year, to 86 million acres, according to the Department of Agriculture. Last year farmers planted a post-World War II record of nearly 94 million acres of corn to meet burgeoning demand for ethanol, which is expected to soon absorb about 30 percent of domestic corn production." ... "“Last year many soybean growers switched from soybeans to corn as ethanol expansion strongly increased the demand for corn,” the Department of Agriculture said." ... "This year, though, many of the 86,000 farmers surveyed for the report said they were shifting production back toward soybeans, which had surged in price. Soybean planting is expected to increase 18 percent this year, to almost 75 million acres." ... "Corn is trading near its record-high price of $5.70 a bushel, more than double the price of two years ago. Soybeans are hovering around $12 a bushel, nearly double last year’s level." (1, 2) -By Victoria Sizemore Long -KansasCity.com

- Oil - Politics - Government - US - Calif - Global - Climate - Environmental - Emissions - Memorial Day - Driving
"Gas prices put oil executives on the hot seat." ... "Oil executives return to the hot seat Tuesday as a House panel examines rising gasoline prices and the industry’s opposition to efforts to repeal $18 billion in tax breaks. The new money would be used to pay for the development of renewable energy." ... "For the industry’s critics, the House Select Committee for Energy Independence and Global Warming hearing Tuesday is another indication of the industry’s waning clout on Capitol Hill, as was the House vote earlier this year that repealed tax breaks the industry now receives." ... "But the army of lobbyists who represent the oil and gas industry has so far successfully fought back in the Senate, which has yet to pass a similar tax bill, forcing renewable energy advocates to lower their own expectations." ... "Executives from ExxonMobil, BP, Shell, Chevron and ConocoPhillips were expected to testify before the House panel, which was created by [California Democratic Representative] Speaker Nancy Pelosi (D-Calif.[Democratic-California]) to highlight her caucus’s efforts to reduce greenhouse gas emissions and the nation’s dependence on foreign oil." ... "Some oil lobbyists worried the hearing could turn raucous since prices at the pump have reached a new record — weeks before the traditional start of driving season on Memorial Day." ... "By coincidence or not, the hearing is being held the same day as “Fossil Fools’ Day,” a campaign by some environmental groups. They question the wisdom of continuing to use fossil fuels, which emit carbon dioxide when burned, as the mainstay for energy production when global temperatures are rising because of increasing greenhouse gas emissions." -By Jim Snyder -TheHill.com

- Barack Obama - John McCain - Hillary Clinton - Iraq - US - Military - Arizona - Illinois - Pennsylvania - New York - Housing - Economy - 2008 Election
"Obama takes aim at McCain on Iraq." ... "[2008 Election Democratic Presidential Candidate] Democrat Barack Obama took aim on Monday at potential White House opponent [2008 Election Republican Presidential Candidate] John McCain on Iraq, saying the Republican senator could not offer a clear definition of success in the conflict and could leave U.S. [United States] combat troops there for decades." ... "Obama said the Arizona senator shared a vision of Iraq with [Republican] President George W. Bush and had not spelled out how the United States would be able to end its military involvement there." ... ""The problem that we've had, both with John McCain and George Bush, is there's no clear definition of success. There never was. And that's why this has been such a profound strategic error," Obama, an Illinois senator, told reporters while campaigning in Pennsylvania." ... "[2008 Election Democratic Presidential Candidate Hillary] Clinton criticized McCain's recent speech on the economy for failing to lay out a clear plan to end turmoil in U.S. housing markets." ... ""Senator McCain recently gave a speech on the economy, and best I could determine his plan was not to have a plan," Clinton, a New York senator, said during an economic round-table in Harrisburg [Pennsylvania]." (1, 2, 3) -By Caren Bohan with contributions by Ellen Wulfhorst, Steve Holland, John Whitesides and Mohammad Zargham -Reuters

- John McCain - Military - Intelligence - US - Iraq - 2008 Election - Mississippi - Arizona
"McCain ‘Surprised’ by Iraq Developments." ... "As he launched a tour here [in Mississippi] designed to highlight his family’s long tradition of military service, [2008 Election Republican Presidential Candidate and Arizona] Senator John McCain said Monday that he was surprised by the latest turn of events in America’s current war in Iraq." ... "Mr. McCain said he had not expected [Iraq] Prime Minister Nuri Kamal al-Maliki to try to oust Shiite militias from Basra [Iraq] without consulting the Americans, and that he was troubled by some of the demands that were made by the Shiite cleric Moktada al-Sadr as part of his offer of a ceasefire after the militias held off the American-supported assault. And he tied some of the current problems to the [Republican President] Bush administration’s old strategy there." ... "“Maliki decided to take on this operation without consulting the Americans,’’ Mr. McCain said on his campaign bus as it rolled through downtown Meridian [Mississippi], saying that the move showed independence but that he had expected the military to focus on Mosul [Iraq]." ... "“I just am surprised that he would take it on himself to go down and take charge of a military offensive,’’ he said. “I had not anticipated that he would do that.’’ " -By Michael Cooper -NYTimes

-Food - Crisis - World - People - Farmers - Land - Fuel - Money - Politics - History - Weather - Drought - China - UN
"Tensions rise as world faces short rations." ... "Food prices are soaring, a wealthier Asia is demanding better food and farmers can't keep up. In short, the world faces a food crisis and in some places it's already boiling over." ... "Around the globe, people are protesting and governments are responding with often counterproductive controls on prices and exports -- a new politics of scarcity in which ensuring food supplies is becoming a major challenge for the 21st century." ... "Plundered by severe weather in producing countries and by a boom in demand from fast-developing nations, the world's wheat stocks are at 30-year lows. Grain prices have been on the rise for five years, ending decades of cheap food." ... "Drought, a declining dollar, a shift of investment money into commodities and use of farm land to grow fuel have all contributed to food woes. But population growth and the growing wealth of China and other emerging countries are likely to be more enduring factors." ... "World population is set to hit 9 billion by 2050, and most of the extra 2.5 billion people will live in the developing world. It is in these countries that the population is demanding dairy and meat, which require more land to produce." ... "In 2007 alone, according to the U.N. [United Nations] Food and Agriculture Organization's world food index, dairy prices rose nearly 80 percent and grain 42 percent." [see also: Agflation] (1, 2, 3, 4, 5) -By Russell Blinch and Brian Love with contributions by Ayesha Rascoe, Missy Ryan, Alistair Thomson, Ho Binh Minh and Eddie Evans -Reuters

- Corporate -Government - Legislation - Politics - Homeowners - US - Global - '08 Election
"8 reasons no Wall Street reforms in '08." ... "Reform American banking? I'll bet you fell for Treasury Secretary Henry Paulson's clever PR [Public Relations] move at the U.S. [United States] Chamber of Commerce last week. And now his "blueprint" for a "sweeping overhaul."" ... "Yes, lots of rhetoric, window dressing to make it look politically correct. Hearings yes. But no new legislation. Wall Street dodges the re-regulation bullet, goes on its merry way, gambling with your money at the "shadow banking" casino." ... "1. Paulson's a wolf in sheep's clothing." ... "Remember, just two years ago Paulson was CEO [Chief Executive Officer] of Goldman Sachs, one of the world's biggest derivatives traders. Traders would suffer from re-regulation. Last week's speech before the conservative Chamber was a masterpiece of spin, based on the "blueprint" he was about to release." ... "You can be certain that whatever Paulson said about reforms, he has three motivations: Delay action till the heat's off, say whatever's politically correct to placate the public and critics, then do nothing to hinder future "shadow banking system" games being played by Goldman and other Wall Street mega-players in the $516 trillion global derivatives casino." ... "And what about helping individual homeowners? DOA [Dead On Arrival]. Blame Congress. More spin: Paulson rejected the need for a "systemwide solution" to help homeowners, arguing that Democrats' ideas weren't even "yet ready for the starting gate."" ... "3. President's already signaled opposition to major reforms." ... "No reforms, not on his watch. [Republican] President Bush's free-market deregulation credentials are clear. Even if the marginalized Democrats were to pass sweeping reforms (unlikely in an election year [2008 Election]), they'd get vetoed." ... "So with the exception of tinkering with Fannie Mae, Freddie Mac and the FHA [Federal Housing Administration], which he's already endorsed because that helps big business and Wall Street, Congress will hold hearings, then recess for summer campaigning. The president will have gotten his PR boost, then blame Congress for inaction." ... "4. Washington's 35,000 lobbyists will kill any substantial reforms." ... "The public wants re-regulation. But not the high-rollers bankrolling 35,000 lobbyists who tell Washington's 537 elected officials how to regulate and spend the federal budget. Taxpayers need to stop kidding ourselves that we're a democracy. The birth of the lobbying industry three decades ago killed America's democracy" -By Paul B. Farrell -MarketWatch

- William J Jefferson - Louisiana - Government - FBI Investigation - Politics
"Supreme Court Won't Intervene in Jefferson Raid Case." ... "The Supreme Court today turned down a government request to reverse a lower court finding that an FBI [Federal Bureau of Investigation] raid on [Louisiana Democratic Representative] Rep. William J. Jefferson's congressional office violated the Constitution." ... "A panel of the U.S. [United States] Court of Appeals for the D.C. Circuit ruled in August that the seizure of printed materials and computer records violated the "speech or debate" clause of the Constitution, which protects members of Congress from questioning by members of the executive branch about their legislative work." ... "The disputed records in Jefferson's case do not figure prominently in his indictment, and prosecutors have said they can proceed without them." -By Robert Barnes -WashingtonPost

- John McCain - Edwards - Consumer - Laws - Politics - Arizona - Women - 2008 Election
"McCain's health plan fails her test: Neither Elizabeth Edwards, whose cancer is incurable, nor the presumptive Republican presidential nominee would be covered by his policy, she asserts." ... "Elizabeth Edwards, the wife of former [2008 Election] Democratic presidential contender John Edwards, said she and [2008 Election Republican Presidential Candidate] John McCain have one thing in common: "Neither one of us would be covered by his health policy."" ... "Edwards lodged her criticism of the presumptive Republican presidential nominee's proposal Saturday at the annual meeting of the Assn. [Association] of Health Care Journalists." ... "Under McCain's plan, insurance companies "wouldn't have to cover preexisting conditions like melanoma and breast cancer," she said." ... "McCain has been treated for melanoma, the most serious type of skin malignancy. Edwards in 2004 was diagnosed with breast cancer, and announced a year ago that it had returned and spread into her bones, meaning it no longer could be cured." ... "His [McCain's health] plan would make it difficult for people with preexisting conditions, but who aren't covered by a government- or job-sponsored plan, to buy individual coverage, Edwards said." ... "Cancer survivors are routinely denied insurance when they try to purchase it as individuals, health experts say." ... "Edwards also criticized McCain's proposal because it would allow companies to sell health insurance across state lines." ... ""... Edwards said the plan would allow insurers to move their headquarters to states in which consumer protection laws are weak." -By Rong-Gong Lin II -LAtimes

- Iraq - US - Military - Politics - History - Money - Accounting - Investigators
"After years of effort, Iraqi army still can't 'stand up'." ... "Iraq's new army is "developing steadily," with "strong Iraqi leaders out front," the chief U.S. [United States] trainer said." ... "That was three-plus years ago, and the trainer was David H. Petraeus, now the top American commander in Iraq. Some of those Iraqi officials at the time were busy embezzling more than $1 billion allotted for the new army's weapons, according to investigators." ... "The 2004-05 Defense Ministry scandal was just one in a long series of setbacks in the five-year struggle to "stand up" an Iraqi military as [Republican] President Bush has promised and allow hard-pressed U.S. forces to "stand down." The latest discouraging episode was unfolding this weekend in bloody Basra, the southern city where Iraqi government forces -- in their toughest test yet -- were struggling to gain the upper hand in a battle with Shiite Muslim militias." ... "Year by year, the goal of deploying a capable, free-standing Iraqi army has seemed to always slip further into the future." ... "How not to build an army:" ... "Early 2003: The first reversal came even before the March U.S. invasion, when the Pentagon discarded prewar plans that called for restructuring the 400,000-man Saddam Hussein-era army into a postwar force of 150,000 to 200,000." ... "Mid-2003: U.S. occupation chief L. Paul Bremer III unilaterally ordered Saddam's army disbanded, and the Bush administration opted for a token military force to guard Iraq's borders. Bremer said the army had already fallen apart after Saddam's fall. The controversial move helped prompt many Sunni officers to eventually join the insurgency." ... "Iraqi view: [Lt. Gen. [Lieutenant General] James] Dubik says Iraqi defense officials don't expect to take over internal security until as late as 2012 and won't be able to defend Iraq's borders until 2018." -By Charles J. Hanley -AP via -Star-Telegram.com

- Don Siegelman - Karl Rove - Leura Garrett Canary - Alabama - US Attorney - Politics -Investigation - 2002 Election - La - Federal - Prison
"Freed Ex-Governor of Alabama Talks of Abuse of Power." ... "Former [Democratic Governor] Gov. Don Siegelman of Alabama, released from prison Friday on bond in a bribery and corruption case, said he was as convinced as ever that politics had played a leading role in his prosecution." ... "Speaking by telephone in his first post-prison interview, shortly after he had left the federal penitentiary at Oakdale, La. [Louisiana], Mr. Siegelman said there had been “abuse of power” in his case, and repeatedly cited Karl Rove, the former [Republican President Bush] White House political director." ... "“His fingerprints are smeared all over the case,” Mr. Siegelman said, a day after a federal appeals court ordered him released on bond and said there were legitimate questions about his case. He was sentenced to serve seven years last June after a guilty verdict on bribery and corruption charges a year earlier." ... "The investigation, trial and conviction of Mr. Siegelman, a veteran politician, has become a flash point for broader Democratic contentions that politics has influenced decisions by the Justice Department under [Republican] President Bush, including the firings of several United States attorneys, and other federal prosecutions besides Mr. Siegelman’s." ... "In a sworn statement, a Republican lawyer and political operative, Jill Simpson, told of hearing one of Mr. Rove’s allies here, William Canary, discussing Mr. Siegelman during the 2002 governor’s race, and saying “that he had already gotten it worked out with Karl and Karl had spoken with the Department of Justice and the Department of Justice was already pursuing Don Siegelman.” The United States attorney here, Leura G. Canary, is married to Mr. Canary." -By Adam Nossiter -NYTimes

- Barack Obama - Hillary Clinton - Financial - Law - Housing - New York - Fed - US - Global - 2008 Election
"Obama Moves Past Clinton in Calling for Wall Street Oversight." ... "[2008 Election Democratic Presidential Candidate] Barack Obama, who has been a step behind rival [2008 Election Republican Presidential Candidate] Hillary Clinton in proposing remedies to the housing and financial crises, jumped ahead of her this week by advocating broader regulation of Wall Street." ... "Obama called for the Federal Reserve to be given greater supervisory power when it acts as lender of last resort. He also urged stronger capital requirements for financial companies and a consolidation of regulatory agencies." ... "``The regulatory framework hasn't caught up with the global financial system,'' he said yesterday in an interview on Bloomberg Television's ``Political Capital with Al Hunt.'' ``It's something I intend to do as president.''" ... "Clinton, 60, has yet to propose a sweeping set of new laws, focusing instead on the slumping economy and on alleviating the effects of the crisis among homeowners. ``We do need to try to make up for the lax regulation and absence of oversight,'' she said in a separate interview yesterday." ... "Obama, 46, offered his proposals in the wake of convulsions in the subprime-lending market and the Fed-engineered buyout of Bear Stearns Cos. by JPMorgan Chase & Co." ... "``Our free market was never meant to be a free license to take whatever you can get, however you can get it,'' Obama said in his March 27 address in New York. ``The American economy does not stand still, and neither should the rules that govern it.''" -By Lorraine Woellert and Matthew Benjamin -Bloomberg

- Financial - Law - Politics - Massachusetts
"Paulson to Propose New U.S. Financial Regulators (Update1)." ... "Treasury Secretary Henry Paulson is likely to call for the creation of new regulatory agencies with broad powers over lending, the securities industry and business conduct, according to the draft of a study he commissioned." ... "[Massachusetts Democratic Representative and] House Financial Services Committee Chairman Barney Frank, a Massachusetts Democrat, said in a statement today the plan goes too far in reducing the role of the states and not far enough in giving new powers to the Federal Reserve over non-bank lenders." -By Jesse Westbrook and John Brinsley -Bloomberg

- Gordon England - Secret - Military - Law - Terrorism - Politics - 2008 Election - 2006 Election - Osama bin Laden - War Crimes - US - Guantánamo - Cuba - Intelligence - Torture - Prison - Michael V Hayden
"Navy Lawyer: Gitmo trials pegged to political campaign." ... "The Navy lawyer for Osama bin Laden's driver argues in a Guantánamo [Guantánamo Bay, Cuba] military commissions motion that senior Pentagon officials are orchestrating war crimes prosecutions for the 2008 [Election] campaign." ... "The brief filed Thursday by Navy [Lieutenant Commander] Lt. Cmdr. Brian Mizer directly challenged the integrity of [Republican] President Bush's war court." ... "Notably, it describes a [September] Sept. 29, 2006, meeting at the Pentagon in which Deputy Defense Secretary Gordon England, a veteran [Republican President Bush] White House appointee, asked lawyers to consider Sept. 11, 2001, prosecutions in light of the campaign [2006 Election ]." ... "''We need to think about charging some of the high-value detainees because there could be strategic political value to charging some of these detainees before the election,'' England is quoted as saying." ... "The brief quotes England as a stipulation of fact and cites other examples of alleged political interference, which Mizer argues makes it impossible for Salim Hamdan, 37, to have a fair trial." ... "It asks the judge, Navy [Captain] Capt. Keith Allred, to dismiss the case against Hamdan as an alleged 9/11 co-conspirator on the grounds that Bush administration leadership exercises ``unlawful command influence.''" ... "As described the Hamdan brief, the England meeting came three weeks after President Bush disclosed in a live address that he had ordered the CIA [Central Intelligence Agency] to transfer ''high-value detainees'' from years of secret custody to Guantánamo for trial." ... "Bush also disclosed that the CIA used ''an alternative set of procedures'' to interrogate the men into confessing -- since revealed by the CIA director, Air Force [General] Gen. Michael V. Hayden, to include waterboarding." -By Carol Rosenberg -MiamiHerald

- Barack Obama - Professor - Law - Illinois - 2008 Election
"University of Chicago: Obama was a 'professor'." ... "The University of Chicago [Chicago, Illinois] said Friday [2008 Election Democratic Presidential Candidate] Barack Obama accurately described himself as a onetime law professor at the school, despite the fact his formal title was "Senior Lecturer."" ... ""From 1992 until his election to the U.S. Senate in 2004, Barack Obama served as a professor in the Law School," the statement said." ... ""He was a Lecturer from 1992 to 1996. He was a Senior Lecturer from 1996 to 2004, during which time he taught three courses per year. Senior Lecturers are considered to be members of the Law School faculty and are regarded as professors, although not full-time or tenure-track," it also said." -By Alexander Mooney and Peter Hamby -CNN

- John Edwards - Barack Obama - Hillary Clinton - Poverty - Health Care - Economics - Politics - North Carolina - 2008 Election
"Who’ll Stop the Pain?" ... "In the days after [former 2008 Election Democratic Presidential Candidate] John Edwards’s withdrawal from the Democratic race, the political world expected his endorsement of [2008 Election Democratic Presidential Candidate] Barack Obama would be forthcoming tout de suite." ... "But now two months have passed since Edwards dropped out—tempus fugit!—and still no endorsement. Why? According to a Democratic strategist unaligned with any campaign but with knowledge of the situation gleaned from all three camps, the answer is simple: Obama blew it. Speaking to Edwards on the day he exited the race, Obama came across as glib and aloof. His response to Edwards’s imprecations that he make poverty a central part of his agenda was shallow, perfunctory, pat. [2008 Election Democratic Presidential Candidate Hillary] Clinton, by contrast, engaged Edwards in a lengthy policy discussion. Her affect was solicitous and respectful. When Clinton met Edwards face-to-face in North Carolina ten days later, her approach continued to impress; she even made headway with Elizabeth [Edwards, John Edwards's wife]. Whereas in his Edwards sit-down, Obama dug himself in deeper, getting into a fight with Elizabeth about health care, insisting that his plan is universal (a position she considers a crock), high-handedly criticizing Clinton’s plan (and by extension Edwards’s) for its insurance mandate." -By John Heilemann -NYMag.com

- Barack Obama - Hillary Clinton - John McCain - Homeowners - Financial - Law - Government - Energy - Telecommunications - Illinois - North Carolina - 2008 Election
"Obama Casts Wide Blame for Financial Crisis and Proposes Homeowner Aid." ... "[2008 Election Democratic Presidential Candidate and Illinois] Senator Barack Obama called Thursday for tighter regulation of mortgage lenders, banks and financial houses, even as he spoke of pumping $30 billion into the economy to shield homeowners and local governments from the worst effects of the collapse of the housing bubble." ... "Mr. Obama laid much of the blame for the crisis on lobbyists and politicians who dismantled the regulatory framework governing the energy, telecommunications and financial services sectors." ... "“Under Republican and Democratic administrations, we failed to guard against practices that all too often rewarded financial manipulation instead of productivity and sound business practices,” Mr. Obama said. “The result has been a distorted market that creates bubbles instead of steady sustainable growth, a market that favors Wall Street over Main Street but ends up hurting both.”" ... "“Instead of establishing a 21st-century regulatory framework, we simply dismantled the old one,” he said, “aided by a legal but corrupt bargain in which campaign money all too often shaped policy and watered down oversight.”" ... "[2008 Election Democratic Presidential Candidate Hillary Clinton:] “We’ve had enough of a president who didn’t know enough about economics and didn’t do enough for the American middle class,” Mrs. Clinton said in Raleigh [North Carolina's capital]. Referring to [2008 Election Republican Presidential Candidate John] Mr. McCain, she added, “I don’t think we can afford four more years of that kind of inaction.”" ... "Mr. McCain “recently admitted, ‘The issue of economics is not something I’ve understood as well as I should,’ ” Mrs. Clinton said. “And it turns out he’d rather ignore the credit crisis and mortgage crisis — or blame middle-class families instead of offering solutions on their behalf.”" -By Michael Powell and Jeff Zeleny -NYTimes

- Financial - Law - Politics - New York - Minnesota - Virginia
"Fed May Rethink Greenspan's Hands-Off Approach Towards Bubbles." ... "Federal Reserve officials may be rethinking their aversion to acting against asset-price bubbles, an article of faith during former Chairman Alan Greenspan's 18 years at the helm." ... "After this month's near-collapse of Bear Stearns Cos., Minneapolis [Minnesota] Fed Bank President Gary Stern -- the longest-serving policy maker -- said in a speech yesterday that it's possible ``to build support'' for practices ``designed to prevent excesses.'' New York Fed President Timothy Geithner, whose district bank took on almost $30 billion of Bear Stearns assets to rescue the firm, argued two years ago for a larger role for asset prices in decision-making, and there's no indication his views have changed." ... "For Fed policy makers, ``the consequences of their permissiveness have become so disastrous that they simply can't keep singing the same old tune in public,'' said Tom Schlesinger, executive director at the Financial Markets Center in Howardsville, Virginia." ... "The collapse of the U.S. subprime-mortgage market has led to $208 billion in writedowns and credit losses since the start of 2007, pushing Bear to the brink of bankruptcy before its purchase by JPMorgan." -By Craig Torres and Vivien Lou Chen -Bloomberg

- US - Iraq - Politics - Ohio
"U.S. Armor Forces Join Offensive In Baghdad Against Sadr Militia: Americans Appear To Take the Lead As Iraqi Units Wait." ... "U.S. [United States] forces in armored vehicles battled Mahdi Army fighters Thursday in Sadr City, the vast Shiite stronghold in eastern Baghdad [Iraq's capital], as an offensive to quell party-backed militias entered its third day. Iraqi army and police units appeared to be largely holding to the outskirts of the area as American troops took the lead in the fighting." ... "Four U.S. Stryker armored vehicles were seen in Sadr City by a Washington Post correspondent, one of them engaging Mahdi Army militiamen with heavy fire. The din of American weapons, along with the Mahdi Army's AK-47s and rocket-propelled grenades, was heard through much of the day. U.S. helicopters and drones buzzed overhead." ... "The clashes suggested that American forces were being drawn more deeply into a broad offensive that Prime Minister Nouri al-Maliki, a Shiite, launched in the southern city of Basra on Tuesday, saying death squads, criminal gangs and rogue militias were the targets. The Mahdi Army of cleric Moqtada al-Sadr, a Shiite rival of Maliki, appeared to have taken the brunt of the attacks; fighting spread to many southern cities and parts of Baghdad." ... "As [Republican] President Bush told an Ohio audience that Iraq was returning to "normalcy," administration officials in Washington held meetings to assess what appeared to be a rapidly deteriorating security situation in many parts of the country." ... "Maliki decided to launch the offensive without consulting his U.S. allies, according to administration officials." (1, 2) -By Sudarsan Raghavan and Sholnn Freeman wtih contributions by Karen DeYoung, Naseer Nouri, Zaid Sabah, K.I. Ibrahim and Dalya Hassan -WashingtonPost

- Barack Obama - John McCain - Housing - Financial - Law - Government - Families - Arizona - 2008 Election
"Obama Urges Regulation in Wake of Housing Slump." ... "[2008 Election Democratic Presidential Candidate Barack] Mr. Obama proposed to rebuild the government’s regulatory structure and promised not to clamp a too-tight hand on economic innovation. But he was unsparing in his view that industry lobbyists and weak legislators produced a misshapen deregulation of the economy." ... "Mr. Obama criticized [Republican] President Bush, describing his proposals for dealing with this crisis as “completely divorced from reality.” And Mr. Obama took on [2008 Election Republican Presidential Candidate and Arizona] Senator John McCain, the presumptive Republican presidential nominee, who argued this week against vigorous government intervention in the housing market, saying Washington should not be bailing out banks and homeowners who in his view had knowingly plunged into risky mortgages." ... "Mr. Obama argued Mr. McCain’s approach offers far too little to rescue the deteriorating economy." ... "“While this is consistent with Senator McCain’s determination to run for George Bush’s third term, it won’t help families who are suffering,” Mr. Obama said." -By Michael Powell -NYTimes

- Hillary Clinton - John McCain - 2008 Election - North Carolina
"Clinton tells Democrats: Don't vote for McCain." ... "[2008 Election Democratic Presidential Candidate] Hillary Clinton pleaded for partisan unity on Thursday, urging Democrats not to abandon their party to vote for [2008 Election Republican Presidential Candidate] John McCain if their preferred candidate fails to secure the nomination." ... "Clinton was asked by a questioner in the audience here [Fayetteville, North Carolina] what she would tell frustrated Democrats who might consider voting for McCain in the general election out of spite." ... "“Please think through this decision,” Clinton said, laughing and emphasizing the word “please.”" ... "“It is not a wise decision for yourself or your country.”" -By Peter Hamby -CNN

- Barack Obama - Illinois - Police - Videotape - Death Penalty - Law - 2008 Election
"Police interrogation law showed Obama's skill in Illinois senate." ... "Facing the challenge of overhauling the death-penalty law in a state rocked by revelations of botched prosecutions, Illinois state [Senator] Sen. John Cullerton made a tactical decision." ... "The chairman of the Senate Judiciary Committee decided to separate one controversial proposal from the broader package, one that would require videotaping interrogations in murder cases. Police and prosecutors opposed it so much that keeping it in the broader package threatened to sink the whole effort." ... "The state senator who later took on the task of pushing the proposal to videotape interrogations was [2008 Election Democratic Presidential Candidate] Barack Obama." ... "Obama worked with Democrats, Republicans and especially with police and prosecutors to fashion a bill that all of them could support. By the time it reached the Senate floor, everyone was on board. It passed in a unanimous vote, and is now Illinois law." ... "How Obama did it reveals a lot about his political style, which is at the core of his appeal. It defines an approach to political problem solving that he vows can change how Washington does business." -By Steven Thomma -McClatchyDC.com

- Iraqi - US - Ohio - Politics
"Iraqi leader threatens fight 'to the end'." ... "As gun battles raged in the southern port city of Basra, parts of Baghdad [Iraq's capital] and neighboring provinces, Prime Minister Nouri al Maliki in effect declared war on Shiite cleric Muqtada al Sadr's Mahdi Army, saying he'd fight the militia "to the end" and never negotiate." ... "In Dayton, Ohio, on Thursday, [Republican] President Bush praised Maliki's "bold decision" to confront Shiite militias and said it was evidence that the Iraqi military is increasingly confident and able to act on its own. In fact, the U.S. [United States] military is providing air cover, embedded advisers and ground reinforcements for the Iraqi offensive." ... "Three days into a U.S.-backed government offensive, however, the Mahdi Army retained control of key neighborhoods of the southern port city of Basra and was able to prevent Iraqi soldiers and police from penetrating its strongholds." ... "At least 189 people have been killed in the Basra offensive, neighboring provinces and Baghdad since early Tuesday morning, government health and security officials reported." -By Leila Fadel with contributions by Qassim Zein and Ali al Basri -McClatchyDC.com

- Antarctic - Ice - History - Global - Climate - Science - Space - Cameras
"Chunk of Antarctic ice shelf collapses, putting larger area at risk: Rapid melting on Wilkins Shelf is attributed to global warming." ... "A chunk of Antarctic ice about seven times the size of Manhattan [island borough of New York City, New York] has collapsed, scientists said Tuesday, putting an even greater portion of glacial ice at risk." ... "Satellite images show the runaway disintegration of a 160-square-mile chunk in western Antarctica that started Feb. 28. It was the edge of the Wilkins Ice Shelf and had been there for perhaps 1,500 years." ... "British Antarctic Survey scientist David Vaughan attributed the melting to rising sea temperature due to global warming." ... "Because scientists noticed satellite images of the event within hours of its start, they diverted satellite cameras and flew an airplane over the ongoing collapse to capture rare photos and video." -AP via -LAtimes

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