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Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Dad accused of forcing son into field, killing him
Man found dead in North Akron home is identified
Victim of beating in Kent last week is declared dead at Akron hospital
Coventry man killed in crash at I-77 ramp
Browns' roster nearly devoid of consistent players
College student mistaken for deer, shot to death
NFL star Chris Spielman's wife loses cancer battle
Blogs:
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Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Friday Night Notebook
Patrick McManamon:
For your Saturday entertainment …
Akron Zips:
Hitchens leads Zips in second-half comeback
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Holmgren expresses interest in Browns position
Kent State Sports:
Kent State blown out in second half, loses to Temple 47-13
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
Headed For Disaster
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (69) The Brookings Institute Study on "Bending the Curve" – Four General Strategies
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Colloquium at University of Akron
Akron Gamer:
Nintendo's Mario endures even as games come and go
Bernanke tells Congress that Fannie and Freddie in 'no danger of failing'
Published on Thursday, Jul 17, 2008
Associated Press
WASHINGTON: Federal Reserve Chairman Ben Bernanke told Congress Wednesday that mortgage giants Fannie Mae and Freddie Mac are in ''no danger of failing.''
The Fed chief made his remarks to the House Financial Services Committee, his second day on Capitol Hill where he briefed lawmakers on the problems plaguing the economy.
The Fed and the Treasury Department on Sunday came to the rescue of Fannie Mae and Freddie Mac, offering to throw them a financial lifeline.
The two companies hold or guarantee more than $5 trillion in mortgages — almost half of the nation's total— and are major sources of financing for the mortgage market. The Bush administration is asking Congress to temporarily increase lines of credit to Fannie and Freddie and to let the government buy their stock. The Fed has offered to let the companies draw emergency loans.
The pledges of aid have raised concerns on Capitol Hill and elsewhere about the government's role in intervening to ease such financial troubles and the risk posed to taxpayers.
The two mortgage giants are ''adequately capitalized,'' Bernanke said. However, ''weakness of market confidence is having an effect'' on the companies, making it difficult for them to raise capital.
Bernanke said the ''best solution'' is to keep Fannie and Freddie ''in their current form'' as opposed to having the government take them over.
Caught between risky cross currents of plodding growth and rising inflation, Fed policymakers are facing ''significant challenges'' as they try to find a way to right the economy, Bernanke told lawmakers.
The Fed can't afford to lower rates again to shore things up because it will aggravate inflation. On the other hand, boosting rates to fend off higher prices would deal a setback to the fragile economy and the already crippled housing market.
Get the full article here.
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