One of the hottest stories this morning is word that, as The Associated Press puts it, "mortgage giant Fannie Mae knew about allegations of improper foreclosure practices by law firms in 2003 but did not act to stop them, a government watchdog says."
There's been a deadly bombing today in the capital of Somalia.
"Islamist militants detonated a truck bomb Tuesday in front of the Ministry of Education in Mogadishu, killing at least 70 people, wounding dozens and shattering a relative calm that had prevailed ... for weeks," The Associated Press reports.
Originally published on Tue October 4, 2011 7:06 am
"Ford Motor Co. and the United Auto Workers have come to terms on a new four-year contract that trades annual pay raises for profit sharing and a signing bonus and promises thousands of new jobs building cars and trucks," The Associated Press writes.
Recently unveiled, the new ATMs shell out bars of gold in different weights and shapes. Gold is a popular investment in China, and there are plans to introduce 2,000 of the machines. Each can hold more than 440 lbs. of gold.
Mary Bach says the price for her Brown and Serve sausage scanned for two pennies more than what the price tag showed. The Pennsylvania woman, who's a consumer activist, accused Walmart of unfair trade practices and she won. A judge awarded her $100 in damages. Walmart has a month to appeal.
Bill Frezza, a venture capitalist and a fellow at the Competitive Enterprise Institute says the idea that creating jobs leads to growth and prosperity is a fallacy. He tells Lynn Neary that the jobs myth is at the heart of the nation's unemployment problems.