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US bank bailout was ‘critical’: Congress watchdog

WASHINGTON (AFP) – The US government’s multi-billion-dollar bank bailout helped avert a second Great Depression and cost taxpayers much less than expected, but was far from perfect, a congressional watchdog said Wednesday. The Congressional Oversight Panel said the controversial $700 billion dollar bailout, launched in 2008, provided “critical” support for…

House panel to examine Muslim radicalization

WASHINGTON (Reuters) – The House of Representatives will investigate radicalization in the American-Muslim community, sparking outrage that the probe is a witchhunt akin to the 1950s anti-Communist campaign. With al Qaeda and its affiliates openly trying to recruit Americans and Muslims inside the United States for attacks, House Homeland Security…

WikiLeaks, ‘the Internet’ among record number of Nobel Peace Price nominees

OSLO (Reuters) – Anti-secrecy website WikiLeaks, the Internet and a Russian human rights activist are among a record 241 nominations for the 2011 Nobel Peace Prize. The Norwegian Nobel Committee said on Tuesday that the 2011 field includes 53 organizations and tops last year’s 237 nominees. Known nominees also include…

Flash crash panel calls for market overhaul

WASHINGTON/NEW YORK (Reuters) – U.S. regulators should stem the growing tide of anonymous stock-trading and consider charging high-frequency traders fees for the disproportionate amount of orders they send into the marketplace, said a panel of experts advising how to avoid another “flash crash.” The report laying out 14 recommendations for…

Obama to name Intel CEO to White House jobs panel

WASHINGTON (Reuters) – Intel Corp Chief Executive Paul Otellini will be named to a panel of experts advising President Barack Obama on jobs, the White House said on Friday. Otellini will join the President’s Council on Jobs and Competitiveness, created in January to focus on lifting hiring and promoting growth.…

Egypt junta names panel to reform constitution

CAIRO – Egypt’s military regime warned on Tuesday that a wave of strikes sweeping the country was “disastrous,” as it gave a panel of civilian experts 10 days to revise the constitution. Against a backdrop of persistent nationwide walk-walkouts and street protests, the junta promised to rapidly restore constitutional rule…

Panel casts doubt on FBI scientific evidence in anthrax case

An independent panel of scientists has determined that the FBI did not have enough scientific evidence to produce a conviction in the case of the 2001 anthrax attacks that killed five people. The National Academies of Sciences released a review Tuesday of the science used in the investigation. The $1.1…

US must accept blame for financial crisis: panel

The United States as a nation must accept blame for causing the financial crisis that engulfed the global economy and cost millions of jobs, a US government-appointed panel reported Thursday. After 18 months spent reviewing millions of pages of documents, interviewing more than 700 witnesses, and holding 19 days of…

Republicans seek to pressure UN into reform

US President Barack Obama’s Republican foes on Tuesday launched a fresh campaign for reform at the United Nations, with a key leader urging Washington to withhold contributions as leverage. Republican Representative Ileana Ros-Lehtinen, the new House Foreign Affairs Committee chair, said the United States contributed more than six billion dollars…

US heart disease costs to triple by 2030

The costs of treating heart disease in America, where one in three people has some form of the disease, are expected to triple by 2030 due to the growing population, researchers said Monday. While current costs of medical care for heart disease are around 273 billion dollars per year, that…

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