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...Congress does wind up extending emergency funds to the FHA - which is a full-fledged part of the Federal Government, unlike quasi-government bailout beneficiaries Fannie Mae and Freddie Mac - it will be in large part because of the role the agency has played in stabilizing the housing market. Last spring, as first-time home buyers rushed to take advantage of the $8,000 tax credit designed to lure them into the market, the FHA insured a full 49% of their mortgages. In October, Congress renewed a higher limit on the size of FHA loans...
...department's action against the Alavi Foundation in U.S. District Court in Manhattan expands a forfeiture proceeding which began last December against the Assa Corp., a part-owner of a 36-story high-rise on Fifth Avenue. But in what may be a first, the government also seeks to seize additional properties in New York, Maryland, Texas, Virginia and California, some of which house mosques, Islamic centers and schools. (See pictures of America's Islamic community...
...Iranian ambassadors to the United Nations, in violation of a series of American laws, Bharara said in a statement. There are also pending federal criminal charges against the foundations former president for obstruction of justice. Bharara's office later clarified that there was no allegation of wrongdoing on the part of the tenants or occupants of the properties...
...last year's financial crisis that the "fundamentals of the economy are strong" - a line of attack that proved devastating to the Republican. The role of communications director has received unusual attention in recent weeks, with Dunn leading a sharp campaign against the Fox News Channel for being "part of the Republican party." Pfeiffer is widely expected to maintain that combative stance on the Administration's behalf. (Read "How They Did It: David Plouffe on Obama's 2008 Victory...
...Secretary of State Hillary Clinton is on Obama's trip and can rightly claim that her department is a key player on policy in this part of the world. That policy weight comes from Steinberg, a China expert and former Deputy National Security Adviser who is staying in Washington during the trip. He has been largely responsible for designing the Administration's approach to Asia, which is to focus on reassuring both long-term allies and China that the U.S. seeks increased cooperation in areas of shared interest. Kurt Campbell, a centrist Clinton White House and Pentagon official, will have...