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PHOENIX, Arizona – President Barack Obama Wednesday targeted the housing crisis at the root of the US economic meltdown, with a program which could cost 275 billion dollars and reach nine million homeowners. The strategy includes 75 billion dollars designed as an incentive for lenders to reduce interest rates to prevent at-risk mortgage debtors joining the millions who have already fallen victim to foreclosures. The government will also put up an additional 200 billion dollars to bolster confidence in efforts by federal lenders Freddie Mac and Fannie Mae to offer affordable mortgages and bring stability to the housing market...Link
NEWS broke last week that Rahm Emanuel, now White House chief of staff, lived rent- free for years in the home of Rep. Rosa De Lauro (D-Conn.) - and failed to disclose the gift, as congressional ethics rules mandate. But this is only the tip of Emanuel's previously undislosed ethics problems. One issue is the work Emanuel tossed the way of De Lauro's husband. But the bigger one goes back to Emanuel's days on the board of now-bankrupt mortgage giant Freddie Mac....Link
In his first major military move, President Barack Obama Tuesday approved the deployment of 17,000 more troops to Afghanistan, saying they were needed "to stabilize a deteriorating situation." "There is no more solemn duty as president than the decision to deploy our armed forces into harm's way," Obama said in a statement. "I do it today mindful that the situation in Afghanistan and Pakistan demands urgent attention and swift action." Obama said the deployment orders were in response to a months-old request by the US commander in Afghanistan, General David McKiernan, who had asked for 30,000 more troops....Link