Tag Archives: Federal Bailout

White Supremacist Kills One at D.C. Holocaust Museum

Just before 1:00pm this afternoon, James Von Brunn, 88, shot and killed a security guard, Officer Stephen Tyrone Johns, at the Holocaust Museum in Washington, D.C. Von Brunn has a history of violence, previously attempting to kidnap members of the Federal Reserve board for which he was jailed four years. His website (since taken down) painted a chilling picture of the man, a white supremacist and Holocaust denier, who believed Jewish people were out “to destroy the White gene-pool.” Von Brunn was seriously injured after being shot by another guard, Washington Post.

Two Peruvian laws have been suspended in the country after they led to violence that has killed 54 people since Friday. “The laws are designed to regulate investment in the Amazon, but indigenous groups say they will lose control of their natural resources,” and now the tribes will have more time to negotiate with the government, BBC News.

Chrysler and Fiat have reached a deal that will save Chrysler for bankruptcy. The fast sale is a win for President Obama, who promised that the car company’s reorganization would be quick, New York Times.

Carrie Prejean, Miss California and the runner-up at this year’s Miss America pagent, has been stripped of her crown for breach of contract. Prejean caused a firestorm when she said during the pagent she did not agree with gay marriage and became a poster girl for the right-wing and anti-gay groups. Last month, pagent head Donald Trump allowed Prejean to keep her crown, but officially fired her today, Reuters.

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10 U.S. Banks to Begin Paying Back Bailout Money

As we reported earlier, 11 people have been killed in a suicide bombing in Peshawar, Pakistan at the Pearl Continental Hotel, a 5-star hotel frequently used by foreigners. Three suicide attackers in possibly two cars gunned down security and then ran their car into the hotel. At least 52 people were wounded, and one person killed was a U.N. worker, BBC News.

10 U.S. banks are now allowed to begin paying back the government the bailout money they accepted to stay afloat. Among the big banks, JPMorgan Chase and Goldman Sachs will help pay back almost $70B dollars. Others banks include American Express, Bank of New York Mellon, the BB&T Corporation, Capital One Financial, the State Street Corporation U.S. Bancorp, and Morgan Stanley, New York Times.

The clinic of Dr. George Tiller, the man shot and killed last week by a pro-life advocate, will be permanently closed, his family says. The clinic, which performed abortions for decades, was often the site of protests, USA Today.

Iraq has freed a man who was charged with the murders of five U.S. soldiers. Rumore have circulated that he was released as an act of good will to militant groups who released a group of British hostages. Laith al-Khazali was accused of helping kill Capt. Brian S. Freeman, 31, of Temecula, California; 1st Lt. Jacob N. Fritz, 25, of Verdon, Nebraska; Spc. Johnathan B. Chism, 22, of Gonzales, Louisiana; Pfc. Shawn P. Falter, 25, of Cortland, New York; and Pfc. Johnathon M. Millican, 20, of Trafford, Alabama, CNN.

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600 People Feared Dead off Libyan Coast

Libyan officials say a boat carrying more than 250 migrants to Europe has sunk. Only 20 people have been rescued. Reuters reported another shipwreck carrying 342 migrants, but that has not been confirmed, BBC News.

The two American journalists detained in North Korea last week will be tried for committing “hostile acts” against the country. If found guilty, they could be kept for years in a labor camp. The reporters are Laura Ling and Euna Lee from Current TV, NY Times.

Take a look at our post on Obama’s auto industry speech for video, articles, and reactions.

And the #1 World News Story: Pakistan Taliban Chief Claims Lahore Attack.

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Obama’s Auto Industry Speech

BNO has posted the prepared remarks of President Obama’s speech here. Video and reactions will be posted here as soon as they are available. Downloads of the White House’s viability statements on GM and Chrysler under the cut.

CNN: Obama announces plans for GM, Chrysler. Continue reading

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General Motors CEO Resigns

General Motors CEO Rick Wagoner has resigned from the company as of early Monday morning. White House officials say his resignation was part of the government’s federal bailout deal. Wagoner has been a controversial figure during the economic crisis and many felt he was not doing enough to get GM out of bankruptcy, CNN.

As we reported earlier, 8 people have been killed at a nursing home in Carthage, North Carolina by a single gunman, who was injured during the shooting. A nurse was among the fatalities and the others dead were residents. The gunman is 45-year-old Robert Stewart and not believed to be related to any of the victims or residents at the home, BBC News.

22 fans were killed at a World Cup qualifier between the Ivory Coast and Malawi on Sunday after a stampede caused a wall to collapse. More than 130 were injured, CNN.

Reporter’s Notebook: NPR reporter Marisa Peñaloza takes a look at the startling difference between the Juarez, Mexico of the past and the violence-ridden town it has become, NPR.

And the #1 World News Story: BREAKING NEWS: 20 Dead at Pakistan Police Academy, Gunmen in Standoff With Police.

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Bin Laden Planning a New Attack

Breaking News: A new report claims Osama Bin Laden is alive in Pakistan and plotting a new attack on the U.S. and its allies. An unidentified senior U.S. official told Reuters that intel showed Bin Laden was planning to attack safe havens in Afghanistan and Pakistan, Sky News.

Cracks in a levee have forced evacuations in Fargo, North Dakota. A neighborhood and a nursing home were evacuated last Thursday night. Officials now say the water will crest at 43 feet, not 41, which puts into doubt whether the town is safe. Governor John Hoeven has asked for 500 extra National Guard troops, AP.

U.S. officials say President Obama plans to send 4,000 additional troops to Afghanistan later this year. Senator Carl Levin, Chairman of the Armed Services Committee, said troops may deployed as soon as June. The troops will, among other tasks, help train Afghan security forces. To date, there are 17,000 U.S. soldiers in the country, BBC News.

And the #1 World News Story: Geithner Seeks Sweeping New Treasury Powers.

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Battling Mexican Drug Cartels

The U.S. has announced that it will boost border security along Mexico. The move is attempting to fight drug cartels which are responsible for 8,000 deaths in Mexico in only the last two years. The White House fears rising levels of violence in the Southwest U.S. is due to these cartels, BBC News.

The AP is reporting that Filipino militants have threatened to behead a Red Cross volunteer unless troops recede, BreakingNewsOn.

The Czech government has lost a no confidence vote and is being forced to step down. Parliament voted 101-99 to oust the center-right government. Prime Minister Mirek Topolanek said he would step down has said he will step down and President Vaclav Klaus now has the power to choose a replacement. Klaus has three chances to do that, but if he fails, former Prime Minister Jiri Paroubek says the current cabinet will likely stay in power until elections can be held in the fall, WSJ.

And the #1 World News Story: Obama Defends Budget as Essential to Recovery | Transcript

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U.S. Government to Buy Toxic Bonds

The Dalai Lama was refused a visa to enter South Africa. He had planned to attend an international peace conference in Johannesburg, which was meeting to highlight South Africa’s advances on human rights issues in advance of South Africa hosting the World Cup in 2010.  A South African official said that the attendance of the Dalai Lama would shift world focus away from the World Cup and onto the problems of Tibet and China. Archbishop Desmond Tutu and former South African President F. W. deKirk have said they will boycott the event if South Africa does not relent, CNN.

Mexico has offered informants 30 million pesos ($2 million USD) for information lending to the arrest of any of the 24 leaders of drug cartels. Mexico has seen drug-related violence skyrocket in response to tougher drug enforcement strategies under current President Felipe Calderón, BBC News.

The stock market soared today after Treasury Secretary Geithner met with Congress to discuss his new economic plan. The increase was the highest one day jump since November, with almost 500 points added to the Dow, CNN.

And the #1 World News Story: U.S. federal government announces plan to buy troubled (popularly known as “toxic”). Washington plans to inject up to $1 trillion into the economy by buying non-performing loans and securities, including the now essentially worthless mortgage-backed securities that started the financial crisis.  The Obama administration hopes to create a market that will bring value back to the assets, CBC News.

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