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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 14, 2008
Page
3
President Bush honors Tony Snow describing him as humorous and loyal after Snow died of colon cancer at 53. He noted Snow’s love for country and family and offered prayers to his widow Jill and their three children.
Israeli Prime Minister Ehud Olmert said Israel and the Palestinians are never closer to peace as a corruption probe tightens his grip on power. He agreed to release Palestinian prisoners after a one on one with President Mahmoud Abbas at the French presidential palace. Abbas and Olmert met Sarkozy and stressed serious intent to reach a peace agreement.
The Fed and Chairman Bernanke prepare to approve measures aimed at restricting penalties on risky borrowers who repay early and ensuring funds are set aside for taxes and insurance, as part of broader efforts to protect home buyers amid the housing crisis.
The Federal Reserve and the Treasury announced steps to shore up Fannie Mae and Freddie Mac as shares fell on mortgage losses. They would allow NY Fed lending to the two firms if needed, cap risky lending without verified income, and curb misleading mortgage ads while boosting borrower disclosures.
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