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 - A man wanted for violating his parole killed three police officers and gravely wounded another in two shootings Saturday, the first after a routine traffic stop and the second after a massive manhunt ended in gunfire, authorities said. The gunman was also killed.
AP - Tens of thousands of Angola's Catholics lined the streets of the capital Saturday for a blessing from Pope Benedict XVI, who urged the country's faithful to reach out and convert people who believe in witchcraft.
Three Oakland, California, police officers were shot and killed on Saturday from a pair of incidents stemming from a traffic stop, police said. A fourth officer was in critical condition, and the suspect in the shootings was dead.
The global economy will shrink up to 2 percent, and rapidly approved stimulus plans worldwide could spark another crash in financial markets, World Bank President Bob Zoellick projected at a forum in Belgium Saturday.
AIG understated the amount of money it paid out to top executives after receiving federal bailout money, the attorney general of Connecticut says -- but AIG denies the accusations.
![[logo]](http://news.bbc.co.uk/nol/shared/img/bbc_news_120x60.gif "BBC News")
![[logo]](http://www.csmonitor.com/images/logo_88x31.gif "Christian Science Monitor"){kind=logo}
![[logo]](http://graphics.nytimes.com/images/section/NytSectionHeader.gif "NYT > Home Page")
![[logo]](http://l.yimg.com/a/i/us/nws/th/main_142b.gif "Yahoo! News")
![[logo]](http://a.abcnews.com/images/abc_news_rss.gif "ABC News")
![[logo]](http://image.guardian.co.uk/sitecrumbs/Guardian.gif "Guardian Unlimited")
![[logo]](http://i2.cdn.turner.com/cnn/.element/img/1.0/logo/cnn.logo.rss.gif "CNN.com"){kind=logo}
