^The man is moron. Duceysane...Fannie Mae and Freddie Mac is somewhat quasi government agencies. The Feds had and will guarantee their survival. Besides, they own half of the mortgage market. Stoic...I'm glad lenders opted out of student loan business. They were screwing underprivileged real bad by hitting them with high interests. I was happy the government step in and curb this st-upidity. The dam schools are guilty by advising students to take out loans that weren't favorable to them. From what I understand lenders rewarded the school with 'kick backs", vacations to the Carib, Mountain retreats, what have you.

I don't know how long could the Feds continue bailing out these lenders and other financial power houses. The Feds said there are 90 institutions are on the "problem" list, and the funny thing is IndyMac Bank wasn't even on that list. But I guess in the case of Fannie Mae and Fredddie Mac they do have to step in.

Banks batter Wall Street again Stocks slump on GM news and more worries about the financial services sector fallout. The dollar hits an all-time low versus the euro. NEW YORK (CNNMoney.com) -- Stocks tumbled Tuesday morning as General Motors' restructuring news and more problems for the troubled financial sector sparked a broad market selloff. The dollar slumped to a new low versus the euro and also fell versus the yen. Bonds rose, lowering the corresponding yields. Oil and gas prices rose. The Dow Jones industrial average (INDU), the Standard & Poor's 500 (SPX) index and the tech-heavy Nasdaq composite (COMP) all declined at least 1% in the early going. Stocks tumbled Monday, with the Dow and S&P 500 ending at 2-year lows, as the failure of IndyMac bank countered any relief about the government plan to rescue Fannie Mae and Freddie Mac. Those worries stretched into Tuesday's session and were compounded by higher oil prices and mixed economic news. Financials fumble. Fannie Mae (FNM, Fortune 500) lost another 16% and Freddie Mac (FRE, Fortune 500) fell 24% in a continued reaction to the government rescue plan. On Sunday, the government announced a plan that would give the two firms, which hold or guarantee nearly $5 trillion worth of mortgages, a bigger line of credit with the Treasury and allow the Treasury to buy stock in the firms. The plan also would allow the companies to borrow directly from the Fed, giving them the same access that commercial banks and Wall Street firms have. Investors were also continuing to react to the failure of IndyMac, now called IndyMac Federal Bank, which was taken over by the federal government late last week. GM. The troubled automaker said Tuesday it will lay off salaried workers, suspend its dividend and sell off $4 billion to $7 billion in assets as a means of getting its business back on track. The sluggish economy, rocketing fuel prices and declining interest in trucks and SUVs have hit the automaker hard over the past few years. GM (GM, Fortune 500) shares rose 1% in early trade. ( Bernanke to speak. The Federal Reserve Chairman was testifying Tuesday before the Senate Banking Committee as part of his semi-annual testimony before Congress on the health of the economy. He was also scheduled to discuss recent financial market strain and the government response to Fannie Mae and Freddie Mac and the broader credit crisis. Treasury Secretary Henry Paulson and Exchange Commission Chairman Christopher Cox were also due to speak. Economic news. The morning brought a slew of readings on the health of the economy. Retail sales and sales excluding volatile autos both grew less than expected in June. Both measures also grew less than they had in the previous month. June wholesale inflation jumped 1.8%, topping economists' forecasts, the government reported, reflecting spiking fuel and food costs. However, prices excluding volatile food and energy prices rose less than expected in the month, climbing 0.2% versus forecasts for a rise of 0.3%. Meanwhile, wholesale prices over the last 12 months have risen 9.2%, growing at the fastest pace in 27 years. (Full story) The July NY Empire State index, a closely-watched regional manufacturing report, improved to a reading of minus 4.9 from minus 8.7 in the previous month. Economists thought it would only improve to a reading of minus 8. Any reading that is negative shows weakness in the sector, while a positive reading shows growth. Fuel prices rise. U.S. light crude oil for August delivery rose 23 cents to $145.41 a barrel on the New York Mercantile Exchange. The national average price for a gallon of regular unleaded gas held steady Tuesday at an all-time high of $4.109, unchanged from the previous day, according to AAA. (Full story). Dollar slumps. In currency trading, the dollar fell to a new all-time low versus the euro and also slipped against the yen, amid worries about the credit crisis and its impact on the economy. Other markets. In global trade, European markets tumbled at midday and Asian markets ended lower. COMEX gold for August delivery rose $7.90 to $981.60 an ounce, rising on the weak dollar. In the bond market, Treasury prices rose, lowering the yield on the benchmark 10-year note to 3.83% from 3.85% late Monday. Bond prices and yields move in opposite directions.

Investors welcomed the news, sending Freddie Mac's shares up 17.6% and Fannie Mae's up 24.9% at the start of Wall Street trade. However by the close of trading both had slid into negative territory, with Fannie Mae falling 5.1% to $9.73, and those of Freddie Mac slid 8.3% to $7.11. web page

Federal regulators seized the bank's assets, fearing it might not be able to meet withdrawals by depositors. It is the second-largest financial institution to fail in US history, regulators say. web page

He is seen in a distressed state and complaining that he has been tortured. The footage was made public by Mr Khadr's lawyers following a Supreme Court ruling in May that the Canadian authorities had to hand over key evidence against him to allow a full defence of the charges he is facing. web page

HIIRAAN ONLINE E D I T O R I A L We are approaching the Tenth Anniversary of the creation of the Puntland State of Somalia. For a full decade, compared to the rest of Somalia and particularly South-Central Somalia, Puntland has been a relative success story. This success was not due to a spectacular developmental achievement or scientific breakthrough, but rather a collective effort by the elders, politicians, religious leaders, business people and civil society of Puntland, who charted a peaceful course for the five regions that encompass Puntland. But of late, another more precarious image is emerging out of Puntland: It’s becoming Somalia’s hub for piracy activities, which is becoming increasingly brazen. With responsibility comes accountability. Puntland can’t be a model of stability and a save haven for notorious pirates at the same time. It’s time for Puntland to come clean. Piracy is an epic problem, affecting not only Somalia's already tarnished global image, but the very humanitarian assistance destined for the destitute and the needy. WFP ships, for example, need protection to deliver aid. It's like biting the feeding hand--- a moral shame for our country. Despite its limited resources, Puntland has, for whatever reason, fallen significantly short of cracking down on pirates. In fact, in some cases, Puntland officials admitted to the media (to the BBC recently) that senior security officials are aiding and abating pirates. Puntland needs to end this culture of impunity for pirates, and the culture of complicity in among its ranks. It needs to destroy the foundations of piracy in places like Eyl. Failure to do so will reduce Puntland to another amateur start-up. To tackle this problem effectively, Puntland needs the following: Public and private citizens should join forces to make piracy a security priority that needs to be destroyed. Before Puntland jumps on the wagon of oil-drilling (which is controversial, given Puntland’s unilateralism on national resources), the administration needs to remake the compromised image of the region, before oil companies can flock there. The international community needs to get serious about piracy. Although the issue is mostly affecting Somalia, its hampering global trade and humanitarian delivery. The international community needs to (1) devise a strategy to comprehensively address this issue, cognizant that Somalia is incapable of protecting its own territorial waters. (2) Create a task force whose primary job is to protect illegal fishing off the coast Somalia (an alibi used by pirates). (3) Assist local administrations, including Puntland and Somaliland (in the form of training and aid), in combating piracy. (4) Create a special tribunal to try pirates. Puntland should use its upcoming 10th anniversary to shore up its collective creativity to solve the multifaceted problems hovering over its head, and particularly the epic piracy problem. Send comments to: editorial@hiiraan.com

^Good one Aw,but you know what I was going for.

^Speaking of shock, Many African American males submit their DNA for genetic genealogy just to find that their great great grandfather was white. Imagine the shock on these men's faces when they are told that they are part Caucasian. Henry Louis Gates Jr does program that traces African American ancestry. He first did mostly for famous blacks but later incorporated regular folks. I found out from the program Morgan Freeman's great great grandfather was white. web page Academic research about Somalis might not be bad idea. Naxar...I'm pretty sure you and I aren't related. I can say that with some confidence.

^If anything, at least you are on message.

^Have you ever been your Qabiil's gathering. Mar waa qoslay marna yaabee.

Originally posted by Ms DD: Aaliya I hate to agree, but there is some truth to what Che said. Che Dig a little deeper? is that an invitation? Yeeeeey..someone agreed LooooooooooL@DD, It's just that first impression can be wrong. Lily-You are right. Living healthy should be the goal. The rest will come naturally. Never miss breakfast. It kick starts your metabolism. Aaliyah..You are very kind. You are welcomed.

^How come you didn't send her my way Anyway, signs can be misleading. Dig little deeper, and you might be surprised.

MS DD...You have me wrong. Aaliyah...for that helpful suggestion I gave granted you didn't have much use for it.

There's absolutely no room for differences of opinion within clan groupings Individuals have diverse opinions, people don't as they ruled by mob mentality, atleast certainly in the case of Somalia.

^LoooooooooooooL..I will leave it there then. My eedo has come Aaliyah...I was being helpful. Atleast a thank you would be nice

^They ain't doing it right! I shouldn't assume, but most of my wadaad female friends are married.

Aaliyah..That's if you are married dear. And I thought you were since you sound like wadaad type Afromantic...It's proven fact-courtesy of Castro, it really does shave off pounds.

Aaliyah-Think about something dreadful.And I heard of lot sex helps speed the metabolism.

^Playing hide and seek.

^same old line I see

Ibti-There are only four major tribes in Somalia, and the civil war was fought along tribal lines. SNM was entirely made of particular community, so was SSDf, and USC. To tie Sool, Awdal, and Sanaag to SNM struggle and assume these communities have the same interests and outlooks is major mistake. The issue was never south vs north. It was simply Qabiils asserting themselves and fighting for own their interests. So, let every Qabiil speak for itself. Let every major tribe their own reconciliation, and there could one national reconciliation between the four major tribes that could determine Somalia's future. P.S. Awdal, Sool and Sanaag have greivances just like all other Somalis, but the point i'm trying to make is they don't feel the Somali government was subjugating them in any particular way, atleast not more than the rest of Somalia. They do realise the Somali government was non-discriminatory when it comes the treatment of citizens.I don't think Hargeysa, Burco, and Berbera communities share those thoughts. LooooooooL@Castro

Ibti-What collective grievances do the communities in Awdal, Sool and Sanaag have against south. No member in these communities has ever pick arms against the former Somali government. They share the same grievances any other Somali has. They want good governance, better development,and justice for all. They were never collectively punished or particularly targeted. And they fully participated in all aspects of the Somali government. To put them in the same boat as communities from Hargeysa, Burco and Berbera who strongly feel the entire south and not just the government had in it for them would be mistake. These communities have diverse interests and unique grievances which can't be channelled and adequately addressed through the Somaliland admin. I say let every Somali tribe speak for themselves rather than sitting together on the false pretense. This is civil war and not war between coutries.

Ibti-I can't speak for Xiin, but I never supported extending the Somali conflict into north.If anything it's Hargeysa's admin drive into the east that's risking war and I have opposed that too,and those regions that oppose secession have the right to defend themselves. But I gotta admit Hargeysa has played its cards right and used the locals to farther secessionist agenda. If Red is for sitting down with the south when it's stabilized, I'm actually for that.But he's gotta realise the Somali institutions broke down to primal level. Any reconcialation has to be comprehensive and between all Somali communities(Qabiils). I don't see Somaliland admin as entity that could speak on behalf of the northern citizens. Each region of Somalia including all Somaliland regions have to make their own case, address their interests, and air their greivances. I appluad Somaliland as entity that ensured peaceful coexistence of the northern Somali, but I very much oppose this political entity to speak on behalf of the north. I'm spefically talking about the Hargeysa admin. It shouldn't be matter of two countries talking, but it should be chance for all Somalis to sit and iron out diffirences and make every Somali citizen get their fair share in the context of one Somalia reconciling with itself. As for him supporting Al-Shabaab, I welcome his support and I'm very appreciative of the fact that he realises Al-Shabaab is for one Somalia. If he's willing to support them with fact in mind, then great.