Archive for September, 2009
Lawmaker seeks group liability for rating agencies
WASHINGTON (AP) — A key House lawmaker wants to make credit rating agencies – widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis – collectively liable for inaccuracies. Pennsylvania Democrat Paul Kanjorski’s new draft bill includes a plan meant to address what critics contend is the crux of the current system’s problem: companies that issue securities – as opposed to investors – pay the agencies for ratings of those securities. Company executives and Republicans immediately slammed the idea, warning it would cause a flurry of costly lawsuits and reduce competition in an industry already dominated by Moody’s Investors Service, Standard & Poor’s and Fitch Ratings
Dolphins’ Henne replaces injured Pennington
DAVIE, Fla. (AP) — The Miami Dolphins’ new starting quarterback held the ball to his ear, spotted his target 25 yards downfield and threw a tight spiral on a line that hit Ted Ginn Jr. in full stride over the middle.
Cops: Feces-covered nude man jumps into man’s pool
STUART, Fla. (AP) — A Florida man is facing charges after authorities said he was naked and covered in feces when he broke into a resident’s backyard and jumped into the pool. A Martin County Sheriff’s Office report shows 21-year-old Robert Stark Higgins was charged with burglary to an occupied dwelling, disorderly conduct and misdemeanor theft.
Treating mild diabetes during pregnancy beneficial
NEW YORK (AP) — Treating even mild diabetes that develops during pregnancy helps keep moms and babies from gaining too much weight and makes for easier deliveries, new research shows. Pregnant women in the U.S. are routinely tested and treated for high blood sugar levels, although it hasn’t been clear whether treating the mildest cases really benefited them and their infants
Health bill on track for committee vote soon
WASHINGTON (AP) — A White House-backed overhaul of the nation’s health care system survived a long day of Republican challenges over abortion, illegal immigration and other issues Wednesday, and the bill’s architect claimed enough votes for passage by the Senate Finance Committee, possibly by the end of the week. Emotions in Congress are running high as both houses edge nearer to floor votes on the legislation that is President Barack Obama’s top domestic priority.
Powerful Indonesia quake kills 75, traps thousands
JAKARTA, Indonesia (AP) — A powerful earthquake struck western Indonesia on Wednesday, triggering landslides and trapping thousands under collapsed buildings – including two hospitals, an official said. At least 75 bodies were found, but the toll was expected to be far higher. The temblor started fires, severed roads and cut off power and communications to Padang, a coastal city of 900,000 on Sumatra island
