NPR's business news starts with more mortgage problems.
(SOUNDBITE OF MUSIC)
INSKEEP: Independent auditors released a report this morning, showing that the Federal Housing Administration is facing a shortfall from losses on the mortgages it insures. The Obama administration says it's going to take steps to prevent a taxpayer bailout.
As NPR's Ailsa Chang reports, the FHA has been struggling since the foreclosure crisis hit four years ago.
President Obama returned yesterday to the scene of Hurricane Sandy's devastation; this time, visiting hard-hit areas of New York. He promised to stick with residents until the rebuilding effort is complete. Here's NPR national political correspondent Mara Liasson.
Listen carefully to both President Obama and Republican leaders, and you hear hints of room for compromise. They're talking of taxes and spending as a deadline approaches, December 31st, when higher taxes and spending cuts would take effect. That would reduce the federal deficit, but also damage the economy, according to forecasters.
Voters in Washington and Colorado just approved measures legalizing marijuana for recreational use. But businesses that want to sell marijuana in those states will face a problem: No bank wants to do business with them.
I called several banks in Washington. I called a local credit union, a tiny bank in the San Juan islands. Everybody said basically the same thing. Even if selling marijuana is legal under state law, it's still illegal under federal law. And banks and credit unions worry that this could get them in trouble.
Whenever there's a disaster, people want to give, and Hurricane Sandy is no exception. According to The Chronicle of Philanthropy, U.S. charities collected more than $174 million in donations as of Nov. 9 to help respond to the storm.
But it's not only money that has been pouring in. Relief programs have also received mountains of clothes, food and other supplies, not all of which are needed.
Every so often, people at an NPR station discover a song they can't get enough of. On those occasions, we ask them to share their obsession with the nation. Ben Famous is the music director at KCEP Power88 in Las Vegas. He spoke to Morning Edition host Steve Inskeep about a new cut from R&B heavyweight Avant. It's called "You and I," and it features Keke Wyatt. "The first time we played it," says Famous, "the phone lines lit up, and people were like, 'Who was that?' 'What was that?'"
Originally published on Thu November 15, 2012 6:07 pm
The death of an Indian woman is prompting Ireland to examine the conditions under which abortions can be permitted in the country.
Savita Halappanavar, a 31-year-old dentist, died last month after she began to miscarry her 17-week-old fetus. Doctors denied her an abortion, a procedure that is illegal in the predominantly Catholic country, because the fetus had a heartbeat. The story gained traction this week after Halappanavar's husband took her body back to India for cremation and went public with the events that led to her death.
Originally published on Mon November 19, 2012 2:51 pm
Wal-Mart is throwing its hat in the gourmet food ring just in time for the holidays this year. Wednesday, the megastore company launched a monthly food subscription service that sends customers a sampling of novel food products each month.
Originally published on Thu November 15, 2012 6:13 pm
In an interview with All Things Considered's Melissa Block, Israel's Ambassador to the United States Michael Oren said that Israel's calling of 30,000 reservists "signals a preparation for possible land action, which we may need to defend our citizens."