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Cedar Rapids Gazette in Cedar Rapids, Iowa

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Newspaper

Cedar Rapids Gazette

Location

Cedar Rapids, Iowa, United States of America

Date

Jul 12, 2008

Page

3

Campaigns Pivot to Midwest States McCain Obama

McCain focused on taxes and women's issues at a Hudson Wisconsin event with female business leaders and a wide audience. Obama campaigned in Dayton Ohio on energy and security, opposing McCain's tax holidays and offshore drilling while pushing a 150 billion energy research plan.

Los Angeles Times Dayton Ohio Barack Obama John McCain Midwest McCain Hudson Wis Arizona Obama New York Virginia Senator Obama McCains Cindy McCain Illinois United States Washington Bush Wisconsin John Kerry Hillary Clinton

Planes nearly collide at JFK prompt new runway procedures

Two aircraft nearly collided at John F. Kennedy International Airport when a Delta Flight 123 tried to go around during landing as a Comair Flight 1520 was taking off on a perpendicular runway. The FAA ordered revised sequencing to ensure paths are clear before a second approach lands.

Washington John F. Kennedy International Federal Aviation Administration FAA Jfk Laura Brown Delta Flight 123 Delta Brown Associated Press Cayman Airways LAN Chile

Senate approves mortgage rescue plan amid housing turmoil

The Senate passed a $3.9 billion housing rescue bill by a 63 to 5 vote to aid distressed homeowners. The plan would let the FHA insure up to $300 billion in new mortgages, aiding about 400,000 homeowners, while imposing new reforms on Fannie Mae and Freddie Mac and offering $14.5 billion in housing breaks. The House and White House face negotiations with a veto threat if key details remain unchanged.

Washington Senate Federal Housing Administration FHA House White House Christopher Dodd D-Conn Banking Committee Congress Barney Frank Dmass Financial Services Committee Dodd Bush Fannie Mae Freddie Mac Mortga Giants

IndyMac seized by regulators amid liquidity crisis

Federal regulators seized IndyMac Bank after a liquidity crunch driven by tight credit, falling home prices, and rising foreclosures. The Office of Thrift Supervision transferred operations to the FDIC, limiting customer withdrawals and delaying full services until Monday. Regulators estimate FDIC costs at 4 to 8 billion dollars, marking IndyMac as the second largest U S bank failure and the biggest thrift collapse.

Los Angeles IndyMac Bank U.S Office of Thrift Supervision IndyMac Federal Deposit Insurance Corporation OTS John Reich Fannie Mae Freddie Mac Fannie and Freddie Wall Street FDIC Continental Illinois National Bank

Russia and China veto sanctions on Zimbabwe regime

At the United Nations, Russia and China blocked a U S backed bid for sanctions on Zimbabwean leaders over violent acts tied to the March presidential vote and June runoff. Nine of fifteen Security Council members supported the measure. The U S Britain and France urged penalties, while Mugabe's government denied responsibility.

United Nations Russia China Zimbabwe Bush U.S Britain France Robert Mugabe Mugabe

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