The plan would replace the leaders of Fannie Mae and Freddie Mac and virtually wipe out their shareholders but let them continue to work with the government standing behind their debt.
Representative Charles B. Rangel paid no interest for more than a decade on a mortgage extended to him by a company connected to a donor to his campaigns.
AP - Tropical Storm Hanna rattled the tourist beaches of the Carolinas as its center edged closer to shore early Saturday for the start of a projected dash up the Eastern Seaboard that could wash out the weekend for millions of people.
AP - Despite a 48-hour contract extension, negotiations between Boeing Co. and Machinists union officials have failed and the union declared: "The strike is on!"
AP - John McCain and Sarah Palin got a rousing welcome Friday to the final two months of the presidential campaign, stressing themes of a strong America and concern about the sinking economy. "Tough times all over America," McCain said.
The eye of Tropical Storm Hanna made landfall at around 3:20 a.m. ET Saturday near Little River Inlet at the South Carolina-North Carolina border, according to CNN meteorologists. Forecasters said Hanna should weaken before quickly traveling up the mid-Atlantic coast and into New England, dumping heavy rain along the way.
Guatemalan President Alvaro Colom said Friday that government prosecutors are trying to determine who put microphones and video cameras in the presidential palace.