Fannie Mae Gets $10 Billion More In Bailout Money
Taxpayers will fork over $10.7 billion more to Fannie Mae, bringing the company’s total bailout to $44.9 billion. Fannie’s twin Freddie Mac hasn’t reported its second quarter results yet, so we’ll have to wait a bit to get the new total for the two, which currently stands at $95.6 billion.
Major AIG Contractor Under Scrutiny
A company hired by insurance giant AIG to investigate federal contract workers injured in war zones is itself under scrutiny after an employee brandished an ID card that falsely suggested he was a government agent.
Microsoft & Yahoo Take On Google
The 10-year agreement between Microsoft & Yahoo was a rumor for sometime, it has become a reality. The search engine Bing, owned by Microsoft, will now power Yahoo. In return, Yahoo will be better placed to compete with Google for a share of the online advertising revenue stream.
Associated Press Cracking Down on People Using Its Content ‘for Free’
The Associated Press (AP) is not making any friends in the bloghesphere as it continues to hunt down people using any of its headlines and content without paying for it. AP is the biggest news service in the world, producing articles, photos, and video for public consumption through paid subscriptions by newspapers, radio, TV, and online broadcasters.
California Closes Its $26 Billion Budget Gap
The deal was reached late last night in Sacramento between Governor Schwarzenegger and four key members of California’s legislative body. California has been in a budget deadlock since February following an impasse between the Democrats, the Republicans and the Governor. The Golden State was forced to issue IOUs to creditors two weeks ago. The deal […]
