JJ News Maker: Feb 10, 2012

Friday, February 10, 2012

Homeowners Get Bulk of the Benefits From Mortgage Plan - New York Times

Some, like Jessica Cooper of Toledo, Ohio, will discover the program’s limitations.

Since she was laid off in June 2009, Ms. Copper and her husband have been pressing Bank of America to modify the terms of the $112,000 mortgage on their home. But because the loan is owned by the Federal Housing Administration, it is not covered. Similarly, Carlos Sandoval de Leon has been seeking a break from Wells Fargo on the $662,000 he owes on a Brooklyn brownstone. But because that mortgage is held by a private investor, it too falls outside the scope of the agreement, which mostly covers loans held by the banks themselves.

The bulk of the settlement, about $20 billion, would go to one million American homeowners who would have their mortgage debts reduced or their loans refinanced at a lower interest rate. It also includes $1.5 billion for roughly 750,000 people who lost their homes to foreclosure between 2008 and 2011, with each receiving between $1,500 and $2,000.

Economists do not expect a big boost for the economy, in part because the banks have three years to distribute the aid. Some experts questioned whether the accord would do much to stabilize the housing market and its glut of millions of foreclosed homes.

Critics also pointed to the fact that millions of mortgages owned by the government’s housing finance agencies, Fannie Mae and Freddie Mac, would not be covered under the deal, excluding about half the nation’s mortgages.

“The effect of this settlement will be catalytic,” Shaun Donovan, the secretary of Housing and Urban Development, said in an interview.

He predicted it would spur more loan modifications through existing government programs as well as principal reductions — when loan debt is written down for borrowers who owe more than their home is worth — as well as additional mortgage relief provided by banks.

“We do believe there should be principal reduction at Fannie Mae and Freddie Mac,” he added. “We’ve been disappointed that this hasn’t happened thus far.” He said the government had proposed incentives for Fannie and Freddie to cut loan balances under an existing program, and the two mortgage giants were studying the idea.

Advocates for homeowners facing foreclosure expressed cautious optimism after the settlement was announced Thursday morning in Washington. “We’re hopeful,” said Joseph Sant, a lawyer at Staten Island Legal Services’ homeowner defense project. “But we had a lot of programs that are good on paper. What will make the difference is that it’s vigorously enforced.”

President Obama declared the deal the largest federal-state settlement in the nation’s history.

“No compensation, no amount of money, no measure of justice is enough to make it right for a family who’s had their piece of the American dream wrongly taken from them,” he said. “And no action, no matter how meaningful, is going to by itself entirely heal the housing market. But this settlement is a start.”

Homeowners in two states — Florida and California — will reap more than half of the $26 billion settlement, a reflection of the disproportionate number of loans that are delinquent or exceed the value of the underlying property there, government regulators said.

The amounts from individual banks were linked to their share of the servicing market. The biggest, Bank of America, would provide $11.8 billion, followed by $5.4 billion from Wells Fargo, $5.3 billion from JPMorgan Chase, $2.2 billion from Citigroup and $310 million from Ally. Bank of America would contribute an additional $1 billion for Federal Housing Administration loans.

And if nine other major mortgage servicers join the pact, a possibility that is now under discussion with the government, the total package could rise to $30 billion.

Banks stocks were mixed in trading Thursday, but shares of Bank of America rose 0.62 percent to $8.18, its highest level since September. Much of the money to pay for the settlement has already been reserved, and investors expect the settlement to remove at least one legal worry for Bank of America.

Shaila Dewan contributed reporting.

View the original article here

Russians drill into Lake Vostok, begin search for life under Antartica's surface - Washington Post

Finding microbes may not sound like much. But they were the first form of Earth life eons before plants and animals existed.

If scientists find these tiny germs in Lake Vostok, it bolsters already strong hope that elsewhere in our solar system, life also might exist where once it didn’t seem possible.

There are plenty of examples of life forms existing in the most improbable of places:

—A tiny shrimp was captured on a NASA video floating under thick ice sheets in a different part of Antarctica.

—Tubeworms somehow get needed energy from violent hydrothermal vents in the deepest Pacific and Atlantic oceans.

—A germ called “the world’s toughest bacterium” by the Guinness Book of World Records and also termed “Conan the Bacterium” was found 55 years ago in a can of meat. It survives and even repairs itself in radiation that would be deadly to cockroaches.

Some in the scientific community expressed concern that the drilling techniques used to reach Lake Vostok could contaminate the pristine lake. As Marc Kaufman explained:

The long effort has met with controversy over some of the chemicals and techniques used in the drilling. Many have been concerned that pristine Lake Vostok — which hasn’t felt the wind for more than 20 million years and may well be home to previously unknown life forms — could be contaminated by the kerosene, Freon and other materials used in the drilling.

John Priscu of Montana State University, an Antarctica specialist who has been in periodic contact with the Russian team, said rumors are flying that the lake was indeed pierced but that no information has been formally announced.

“If they were successful, their efforts will transform the way we do science in Antarctica and provide us with an entirely new view of what exists under the vast Antarctic ice sheet,” he said in an e-mail.

Many scientists see Vostok as not only a last frontier on Earth but also a potential gold mine for learning about possible conditions on Jupiter’s moon Europa or Saturn’s moon Encedadus. Each is covered by a thick shell of ice with liquid water below, warmed by either the inner heat of the moon or by tidal forces.

The United States and Britain will begin drilling later this year into small subglacial Antarctic lakes. Scientists estimate that there are about 200 of these lakes beneath the ice sheet.

Reports emerged as the drilling effort continued that Lake Vostok had been the site of a secret Nazi base. As Elizabeth Flock reported:

When state-run Russian news agency RIA Novosti released a report Monday that said Russian scientists had drilled into the deep, dark and previously untouched Lake Vostok, a curious detail was buried farther down in the story.

Ria Novosti reported that near the end of the World War II, the Nazis moved to the South Pole and began constructing a base at Lake Vostok. The agency quotes German Grand Admiral Karl Dontiz, who apparently said in 1943: “Germany's submarine fleet is proud that it created an unassailable fortress for the Fuehrer on the other end of the world,” in Antarctica.

Is there any truth to the Russian rumors? Or is this a case of a news agency implementing Godwin’s law — the longer a discussion goes, the probability of a comparison involving Nazis approaches.

Taken another way: Why isn’t it enough to relish in the sheer awe of reaching 2.2 miles below the surface of Antarctica to explore a hidden lake?

Discovery News scoffs at the idea of a Nazi base there, calling it “Nazi paranoia” and “World War II conspiracy theories” from Moscow. The Moscow Times dismisses the idea as just “rumors.” Most news sites, including The Post, ignored Ria Novosti’s theory.

More from The Washington Post

Sheltering abundant microbial life miles below icy surface

Graphic: The subglacial Lake Vostok

View the original article here

Graphic words, photos mark Virginia murder trial - USA TODAY

CHARLOTTESVILLE, Va. – Mike Burns testified Thursday that he saw George Huguely choking Yeardley Love little more than two months before her death in 2010.

Steve Helber, AP

Lexie Love, left, sister of Yeardley Love, and Sharon Love, the victim's mother, had front-row seats Thursday for graphic testimony and photographic evidence from first responders.

Steve Helber, AP

Lexie Love, left, sister of Yeardley Love, and Sharon Love, the victim's mother, had front-row seats Thursday for graphic testimony and photographic evidence from first responders.

Burns then played lacrosse for a rival team, North Carolina, and prosecutors say he was the romantic rival whose relationship with Yeardley Love fueled a jealous rage in Huguely, her former boyfriend.

Burns testified he was at a party when he heard a woman crying "help me, help me." Burns said he opened a door to find Huguely on his back in bed, with Love on her back on top of him. Burns said Huguely's arm was wound tightly around Love's neck.

Burns demonstrated the hold for the jury in Charlottesville Circuit Court, where Huguely is on trial for first-degree murder. Love died May 3, 2010, only weeks after the late-February party.

Burns said Huguely released his hold and rolled over when Burns came in the room and that Love ran out of the room. "She just said 'Thank you so much,' " Burns said. "She also said she couldn't breathe. She was hysterically crying."

Huguely and Love both played on lacrosse teams at the University of Virginia and Burns said he was in Charlottesville with some teammates to socialize with some UVa players.

Burns said he met Love, a native of Cockeysville, Md., at the Preakness in Baltimore in 2008 and that they also spent time together in 2009 when he worked a summer job in New York but that they were otherwise not frequently in contact. He said he slept at her apartment after the February party.

Defense attorney Francis McQ. Lawrence asked Burns if he "hooked up" with Love, a phrase Lawrence said could mean something short of sex. Burns said he and Love hooked up when they met at the Preakness, after he walked in on the choke hold and when Love and some friends visited UNC in late April.

Prosecutor Warner D. Chapman said in his opening statement Wednesday that Huguely sent Love an email that said "I should have killed you" when he learned she had slept with Burns. Lawrence said that was not a threat, just an expression.

Earlier Thursday, Love's mother, Sharon, and sister, Lexie, sobbed as the jury viewed graphic photos of Love's body. They and other trial spectators couldn't see the pictures from where they sat, but they could hear the testimony of first responders who described Love's swollen right eye and dried blood around her nose and mouth.

Huguely, who could have seen the pictures from his seat at the defense table, dipped his head and appeared to avert his eyes. He has pleaded not guilty to six charges.

K.W. Blackwell, a Charlottesville police officer, said he responded to a call for "alcohol overdose" but said when he saw Love's body he believed she had been attacked.

Michael Hanshew, an EMT that night, said medics tried to revive her for 25 minutes but there was no sign of life.

Charlottesville Police Detective Shawn Bayles testified that he treated the room as a crime scene when he saw a large hole in the door to Love's bedroom. He also said one EMT brought it to his attention that the toilet seat in Love's bathroom was left up.

Danny Mistry, a physician for many UVa teams, testified Love was in peak physical condition. He said he ran EKGs on her three times that he said showed her use of the prescription drug Adderall did not have an adverse effect on her heart.

For more information about reprints & permissions, visit our FAQ's. To report corrections and clarifications, contact Standards Editor Brent Jones. For publication consideration in the newspaper, send comments to letters@usatoday.com. Include name, phone number, city and state for verification. To view our corrections, go to corrections.usatoday.com.

View the original article here

Pentagon to ease restrictions on women in some combat roles - Washington Post

Pentagon to ease restrictions on women in some combat roles - The Washington Post Print SubscriptionConversationsToday's PaperGoing Out GuideJobsCarsReal EstateRentalsClassifiedsHomePoliticsCampaign 2012CongressCourts &LawThe Fed PageHealth CarePollingWhite HouseBlogs & ColumnsIssues: EnergyTop Blogs

Election 2012 | Felicia SonmezThe Fix | Chris CillizzaFederal Eye | Ed O’KeefeFact Checker | Glenn KesslerOpinionsAll OpinionsPostPartisanLeft-LeaningRight-LeaningTolesCartoonsTelnaesAnimationsLocalColumnist IndexLocalDC: Politics| NewsMD: Politics| CommunitiesVA: Politics| CommunitiesCrimeEducationOn Faith/LocalObituariesTraffic & CommutingWeatherBlogs & ColumnsThe Root DCTop Blogs

Post NowThe BuzzCapital Weather GangDr. GridlockSportsRedskins/NFLCapitals/NHLWizards/NBANationals/MLBDC United/SoccerCollegesAllMetSportsOther SportsBlogs & ColumnsTop Blogs

The Insider| Mike JonesCapitals Insider| Katie CarreraWizards Insider | Michael LeeNationals Journal| Adam KilgoreNationalCorrectionsEnergy & EnvironmentHealth & ScienceHigher EducationNational SecurityOn FaithOn LeadershipInnovationsOn GivingBlogs & ColumnsTop Blogs

Ideas@InnovationsPost LeadershipUnder GodCheckpoint WashingtonWorldAfricaTheAmericasAsia &PacificEuropeMiddle EastNational SecurityWar ZonesSpecial ReportsCheckpoint WashingtonBusinessEconomyIndustriesLocal BusinessMarketsPolicy&RegulationTechnologyWorldBusinessBlogs & ColumnsInnovationsOn Small BusinessTop Blogs

Wonkblog | Ezra KleinPost Tech | Cecilia KangFaster ForwardWhere We LiveInvestigationsLifestyleAdviceCarolyn HaxFoodHome & GardenStyleTravelWeddingsWellnessMagazineKidsPostTop Blogs

The Style BlogAll We Can EatReliable Source | Roxanne Roberts & Amy ArgetsingerOn Parenting | Janice D’ArcyEntertainmentBooksCelebritiesComicsGoing Out GuideHoroscopesMoviesMuseumsPuzzlesTheater & DanceTVTop Blogs

TV Column | Lisa de MoraesCelebritology | Jen ChaneyClick Track | Chris Richards & David MalitzComic Riffs | Michael CavnaMultimediaInnovationsPhotosVideosThe Washington PostThe Washington PostCorrectionsEnergy & EnvironmentHealth & ScienceHigher EducationNational SecurityOn FaithOn LeadershipInnovationsOn GivingBlogs & ColumnsIn the NewsHuguely trial Jeremy Lin CPAC Mimi Alford Steve Jobs Foreclosure settlement iPad 3 ???initialComments:true! pubdate:02/09/2012 15:50 EST! commentPeriod:14! commentEndDate:2/23/12 3:50 EST! currentDate:2/9/12 7:0 EST! allowComments:true! displayComments:true!

A Post investigation: Congress and cash

Peeps Show: Diorama contest returns!

Inside FBI’s Steve Jobs file

One-liners for Washingtonians in love

Pentagon to ease restrictions on women in some combat roles

View Photo Gallery — Military officials say a ban on women serving in front-line infantry and armor units as well as special operations forces such as the Navy SEALs will be maintained. View photos of elite women soldiers in Afghanistan.

Text SizePrintE-mailReprints By Craig Whitlock,

The Pentagon will maintain bans on women serving in most ground combat units, defense officials said Thursday, despite pressure from lawmakers and female veterans who called the restrictions outdated after a decade of war.

After taking more than a year to review its policies on orders from Congress, the Defense Department announced that it would open about 14,000 combat-related positions to female troops, including tank mechanics and intelligence officers on the front lines.

Comments

Weigh InCorrections?

Video

The Pentagon is unveiling plans Thursday to allow women to serve in thousands of military jobs closer to the front lines, reflecting the realities of the last decade of war in Iraq and Afghanistan. (Feb. 9)

But the Pentagon said it would keep 238,000 other positions — about one-fifth of the regular active-duty military — off-limits to women, pending further reviews. Virtually all of those jobs are in the Army and Marine Corps.

Pentagon officials said that they were committed to lifting barriers to women but that it was difficult to make sweeping changes on the battlefield during a time of war.

“Sometimes this takes longer than you’d like,” said Virginia S. Penrod, the deputy assistant secretary of defense for military personnel policy. “It may appear too slow to some, but I see this as a great step forward.”

In the 1970s, Penrod recalled, she was one of the first women allowed to serve at Minot Air Force Base in North Dakota. Female troops had previously been banned there because it was “too cold,” she said, adding that the military has come a long way since then.

Advocates for women in the military, however, accused the Pentagon of dragging its feet and only belatedly recognizing the critical role that female troops have played in the wars in Afghanistan and Iraq. They said many of the job openings announced by the Pentagon merely codify the reality on the battlefield, where commanders have stretched rules for years to allow women to bear arms and support ground combat units.

Since 2001, about 280,000 women have deployed to Iraq and Afghanistan, according to Defense Department statistics; 144 have been killed, and 865 have been wounded.

The biggest previous advance for women in uniform came in 1994, when the Clinton administration removed restrictions on more than a quarter-million troop slots. Since then, however, the Pentagon has kept in place a prohibition on women serving in units whose primary mission is “direct” ground combat, such as artillery, infantry and tank units.

“Since then, it’s been drip, drip, drip,” said Nancy Duff Campbell, co-president of the National Women’s Law Center, expressing frustration with what she called incremental changes. “This is the pattern that they have been following for years.”

Pressure for more changes has been building in Congress, particularly among female lawmakers.

In March, a congressional commission recommended that the ban on women serving in ground combat units be overturned as part of a broader effort to increase diversity in the armed forces, particularly in the officer ranks.

Congress separately ordered the Defense Department to review the ban and submit recommendations. That review was due last April, but the Pentagon took an extra 10 months to complete it.

Continued12Next PageEmailTumblrRedditStumbleuponDiggDeliciousDiscussion Policy | FAQ | About DiscussionsLoading...

Comments

Add your comment
Read about the changes to comment thread appearance, moderation. Read what others are sayingAbout Badges SuperFan Badge

SuperFan badge holders consistently post smart, timely comments about Washington area sports and teams.