The top federal prosecutor in Manhattan filed a lawsuit today that alleges Bank of America Corp. cost American taxpayers more than $1 billion when it sold toxic mortgages — originally issued by Countrywide Financial — to the government controlled Fannie Mae and Freddie Mac.
NPR's Margot Adler explains it like this to our Newscast unit:
"U.S. Attorney Preet Bharara described the conduct of Countrywide as 'spectacularly brazen in scope.'
An oil boom is under way in the United States. Since 2008 domestic oil production has increased dramatically, reversing what was a nearly three-decade decline. That has some predicting the U.S. could overtake Saudi Arabia as the world's largest petroleum producer in coming years.
Originally published on Wed October 24, 2012 6:06 pm
We almost brought you news today about a study that appeared to raise some troubling questions about aspartame, the popular sugar substitute found in many common foods like diet soda. Note the key word — almost.
A study due to be published at 3 p.m. Wednesday in the American Journal of Clinical Nutrition and released to reporters earlier in the week under embargo found some correlation between drinking diet soda and an increased risk of leukemia and Non-Hodgkin's lymphoma, as well as a few other rare blood-related cancers.
It's ALL THINGS CONSIDERED from NPR News. I'm Audie Cornish.
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And I'm Melissa Block.
Most polls in the presidential race show the national popular vote to be a virtual tie. But as we know, the popular does not pick the president. That's the job of the Electoral College. And some election number crunchers are starting to explore the nightmare scenario of an Electoral College tie. It's a remote possibility, but a possibility nonetheless.
Rajat Gupta, a man who operated at the top levels of American business, was sentenced to two years in prison on Wednesday. He was convicted of insider trading in a case that grew out of the prosecution of hedge fund manager Raj Rajaratnam, who is now in prison.
While federal prosecutors sue Bank of America for its alleged role in the housing crisis, things are looking up for the housing industry. Government numbers out today show that new home sales rose almost 6 percent in September, and that comes on the heels of other promising data out last week on construction activity.
Joining me now to discuss what appears to be a housing recovery is NPR's Yuki Noguchi.
In Detroit, Tigers fans are preparing for the return of their beloved team to the grand stage of the World Series. In a city largely known for hard times these days, the World Series means far more than just a chance at a championship.
Facing high unemployment and crime rates and teetering on the edge of financial collapse, Detroit needs something to celebrate. Maybe something along the lines of the celebration that broke out after the Tigers won the World Series again in 1968.