The sweeping regulatory plan is also expected to call for the Federal Reserve to oversee hedge funds whose problems could pose risks to the entire financial system.
In pouring cash into school districts, Washington is using a tangle of well-worn federal formulas that seem to take little account of who needs the money most.
AP - Knocked off balance by the bonuses brouhaha, President Barack Obama is relying on direct appeals to the public to refocus attention on his ambitious agenda and drive the debate.
AP - Washington Mutual's holding company is suing federal regulators for billions of dollars, saying the firesale of the bank's assets to JPMorgan Chase violated its rights.
AP - The Iranian leader's rebuff on Saturday to President Barack Obama's offer for dialogue was swift and sweeping: Words from Washington ring hollow without deep policy changes.
Four police officers are in critical condition and a suspect is dead after two shootings in an Oakland, California, neighborhood, Saturday afternoon, police confirmed. Aerial video from the scene in East Oakland's MacArthur Boulevard neighborhood showed crime-scene investigators blocking off a portion of a street and a sidewalk smeared with blood.
A U.S. Navy submarine and a Navy amphibious ship that collided Friday in the Strait of Hormuz south of Iran have arrived in Bahrain to be assessed for damage, the Navy said.
Four people were killed early Saturday after a fire broke out at a state-run group home for mentally disabled residents in upstate New York, the governor's office said.