| Fannie, Freddie shares slump
Shares of Fannie Mae and Freddie Mac slumped today within a rebounding stock market, following the government's decision late Friday to deny requests to ease the mortgage finance giants' investment caps. Fannie Mae shares fell $2.79, or more than 4 percent, at $63.67, in morning trading, while Freddie Mac stock declined $1.50, or 2.4 percent, to $60.45. Last week, investors catapulted Fannie's share price 17 percent and drove up Freddie's stock by 11 percent amid speculation that federal regulators would agree to relax the investment limits on the companies as a way to provide liquidity in the turbulent market for mortgage-backed securities. Key Democratic lawmakers and others had clamored for the Office of Federal Housing Enterprise Oversight to do so. OFEHO Director James B. Lockhart, however, said after the market close Friday that the risk of allowing the companies to take on more debt at the moment was too great.
Greene County man held in I-79 road rage incident
A Greene County man was being held in jail on assault charges related to a road rage incident on a Washington County interstate last week. State police in Washington said Michael Shelleby, 62, of Holbrook, threatened John Poprosky, 50, of West Newton, with a gun on Interstate 79 just north of Interstate 70 in South Strabane on Friday afternoon. Police said the incident began when both drivers were traveling in the left lane and Mr. Shelleby "did not want to let the victim pass." Mr. Poprosky tried passing in the right lane, police said, but Mr. Shelleby sped up to block him. Mr. Poprosky slid back over into the left lane. When he tried to pass again on the right and the vehicles were side-by-side, police said, Mr. Shelleby reached across the passenger seat, rolled down the window and displayed a handgun.
Sports clips for August 9, 2007
Ryan Miller led Haverhill runners at the annual Yankee Homecoming 10-mile Race in Newburyport. Miller, a member of the Haverhill-based SISU Project and Fitchburg State graduate, placed 11th among 1,279 finishers. He clocked 54:10, averaging 5:25 per mile. Alene Reta of New York captured the race in 50:49.Matt Germain, a former Haverhill High School track and cross-country standout, finished 16th in 55:13. Like Miller, Germain represents the SISU Project and is a Fitchburg State graduate.Kelly Lecours (205th place) was the city's top female finisher. She crossed the finish line beside her husband, Steve Lecours, in 72:43. Also finishing well were Paul Scovotti (68:15) in 126th and Evan George (71:59) in 183rd.In the accompanying 5K race, Chris McCann took 18th among 1,420 finishers. McCann, a former Hillies track ace now attending Worcester Polytechnic Institute, ran 17:26 for the 3.1-mile route.
Judge: Lawyers owe at least $62 million to former clients
Three attorneys accused of bilking their clients in a diet drug settlement must repay at least $62.5 million in settlement funds and interest, a judge ruled Friday. Special Judge William Wehr ordered William J. Gallion, 56, Shirley A. Cunningham Jr., 52, and Melbourne Mills Jr., 76, to repay $42 million taken from the settlement and $20.5 from they put into a corporation, the Kentucky Fund for Healthy Living. Wehr said the attorneys must also pay 8 percent interest over the six years they had the money. The attorneys are being sued by about 400 former clients who claim the lawyers took too much money as part of a $200 million fen-phen settlement. Gallion and Cunningham own a 20 percent stake in Curlin, who won the second leg of the Triple Crown in May.
Dad Charged With Leaving Daughter In Hot Car
LOUISVILLE, Ky. -- A Louisville father has been arrested and charged with wanton endangerment. Police said James White, 33, left his 4-year-old daughter in an unlocked car with the windows rolled up while he and his sons shopped inside Value City. Police said the child was asleep inside the car about 10 to 15 minutes after a customer reported finding her. The girl was taken to Kosair Childrens Hospital for observation but apparently suffered no serious ill effects. .
Israel forces commit 33,144 violations in 2007
A recent report monitoring the Israeli violations against the Palestinian people indicated Israel have committed 33,144 violations since early 2007. The report, which was prepared by the Palestinian National Information Center (PNIC) said that during those violations, Israeli forces killed 198 Palestinians and injured 1002 as well as established 3,312 roadblocks, arrested 3, 316 citizens and expropriated 85 times Palestinian-owned lands for the sake of constructing the Apartheid Wall, while settlers assaulted Palestinians during this period 182 times. Israeli occupation forces killed 32 Palestinians and injured 113 others during the last month of July in 2, 214 violations. PNIC pointed out that between 1 and 13 July, Israeli forces used its military arsenal against the Palestinian civilian population, in addition to exercising arbitrary measures and collective punishment policies against them, including the constant closures and economic blockade, shelling of civilian population centers and incursions.
Photo released of missing man
The search for a Porcupine man may have been suspended, but police are now turning to the general public for help in locating Luciano Trinaistich.
On Monday, Ontario Provincial Police released a photo of 79-year-old Trinaistich, who hasn't been seen since July 24.
OPP and members of the Timmins Police Service, along with countless search and rescue volunteers exhausted their search of an area north of Timmins in Murphy Township, where Trinaistich's vehicle was found. .
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