Oil gusher again after containment cap hiccup in Gulf
Tens of thousands of gallons more crude flooded the Gulf after an undersea robot bumped a venting system and forced BP to remove the containment cap. Officials said hydrates may have formed as oil and gas escaped, worsened by a court ruling overturning the deepwater drilling moratorium.
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Gulf of Mexico
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Thad Allen
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Housing market sinks after end of tax credit
May housing data show new home sales plunging 33 percent to record lows after the government halted an $8000 tax credit. The drop adds to a broader housing slump as unemployment stays high and existing home sales also slip while the Fed maintains low rates to support growth.
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Federal Reserve
Fed
Mike Larson
Weiss Research
Ben Bernanke
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