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In Fed Rate Cut, Fears of a Long Recession
it could to revive the economy. Since the Feds rate cut on Dec. 16, rates on 30-year fixed mortgages have dropped to 5.1 percent, their lowest in more than 30 years, from 5.53 percent at the beginning of December, according to Freddie Mac, the

Businesses, Jobs Threatened by Sharp Drop in Consumer Spending
and economists question why Congress continues to focus on preventing home foreclosures, when 58 percent of borrowers whose mortgages have already been remodified in 2008 have defaulted once again after only six months, according to Lender Processing

Israel: Hamas mortars led to attack near U.N. school
Three artillery shells believed to have been fired by Israeli forces struck near the perimeter of a U.N. school in northern Gaza on Tuesday, killing at least 30 people and wounding 55, a U.N. official said.
Tue, 06 Jan 2009 14:34:41 EST

Blair: Cease-fire must halt Hamas smuggling
Any cease-fire in the Gaza conflict will require "clear and definitive action" to halt the smuggling of weapons and money into the Hamas-ruled Palestinian territory, former British Prime Minister Tony Blair said Tuesday.
Tue, 06 Jan 2009 14:36:09 EST

Gaza horrors sow seeds for future violence
Mohammed Abu Hassanin may be a young boy, but he's old enough to know he's scared of the attacks being launched by Israel in Gaza.
Mon, 05 Jan 2009 22:51:24 EST

Gas row flares as supplies to Europe cut
Several European countries said Tuesday their supply of natural gas from Russia had been cut or reduced amid a dispute over payments between Russia and Ukraine.
Tue, 06 Jan 2009 14:11:20 EST