Clinton proposal to cut student loan rates faces bank pushback
The Clinton administration proposes banks accept slightly lower interest rates on student loans to ease college costs. A graduate could save about 499 dollars on a 10 year payoff of a 10 thousand loan. Banks fear reduced profits may curb lending and worry many lenders would exit the market. Barbara Chapella of the American Bankers Association notes smaller banks find student lending unprofitable.
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Pentagon plans discipline for Marine jet crew over Italian ski lift crash
Pentagon officials say disciplinary action is recommended for the EA-6B Prowler crew after an investigation found the pilot flew too low, failing safety norms. The Feb 3 incident at an Italian ski resort killed 20 as a cable car was severed, with one report noting the jet was about 300 feet above ground instead of 1,000 feet.
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Marine Corps
Pentagon
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Italy
Fumillar
Carey accuser cites new allegations of union funds misuse
New allegations surface about misuse of union resources to back Carey’s reelection. Former campaign manager Jere Nash implicated Carey, alleging an illegal fundraising scheme that traded union donations for contributions to Carey’s coffers. Carey's lawyers counter with claims Nash acted for personal profit and drew Carey into a $800,000 union treasury payout.
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Teamsters
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Jere Nash
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Justices urge Congress to curb federalizing local crimes
Supreme Court Justices Kennedy and Souter urged lawmakers to halt expanding federal criminal laws into state affairs. They warned more federal cases would strain an already overburdened judiciary amid vacancies and pending nominations, risking “police court” federal judges.
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Anthony M Kennedy
David H. Souter
United States Court
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