NPR 2009-08-05

North Korea's official media agency says the country's leader, Kim Jong-Il, pardoned two jailed American reporters and ordered their release during a visit today with former President Bill Clinton. Former National Security Council member Dannis Wilder says Mr. Clinton's unannounced trip was the result of ongoing 1 talks with North Korean diplomats 2 in the US.

I think there have been discussions through the what's called the New York channel where there are some North Korean diplomats at the UN for some time. My sense is that the discussions did not get serious however until quite recently.

The two reporters have been detained since March when the North Koreans accused them of illegally crossing into the country from China. The White House is calling the former President's trip "a private mission" and denies North Korean reports that Mr. Clinton delivered a message to Kim Jong-Il from President Obama.

Senate lawmakers from both parties say they're prepared to hold a vote on extending the government's subsidized car trade-in program "Cash for Clunkers". NPR's Audie Cornish reports.

Senate leaders say by Friday they expect to vote on the 2-billion-dollar extension for the "Cash for Clunkers" program that was passed by the House, while Republican objectors have said they will not try to stop the extension. Minority leader and Kentucky Republican Mitch McConnell, says they still want to make changes to the bill.

“What we will be negotiating over is the appropriateness of some amendments 3 to the bill. But I would anticipate that the matter will be completed sometime before the end of the week.”

Problem is House lawmakers would have to approve any changes to the extension, and they won't be back from recess 4 until September. White House officials say they would have to suspend the program by the end of the week if additional money is not approved. Audie Cornish, NPR News, the Capitol.

GMAC, which is transitioning from being the lending arm of General Motors to an independent bank, is posting a net loss of nearly four billion dollars for the last quarter. Amy Miller 5 of member station WDET has details.

The loss follows a cash injection of $7.5 billion that the company received in May from the Federal government. GMAC execs say converting the company to a private bank that now offers services in addition to mortgages and auto 6 loans cost more than a billion dollars in tax charges and another billion dollars in charges attributed to the mortgage arm. When the Treasury 7 Department injected the extra billions, more than half the money was specifically designated for Chrysler dealers 8 and customers. But the auto section still lost more than 700 million dollars. The Federal Deposit Insurance Corporation is allowing GMAC to issue billions in FDIC-backed debt despite the junk bond rating. For NPR News, I'm Amy Miller in Detroit.

On Wall Street today, the Dow closed up 32 points at 9,320. The NASDAQ gained two points to close at 2,011. The S&P was up three.

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A newly filed court document says jailed polygamous leader Warren Jeffs faced imminent 9 death last week without immediate 10 medical intervention 11. Jail officials indicate he's not in danger now, but still requires force-feeding. NPR's Howard Berkes has more.

The document filed by the medical director at the Mohave County Jail in Arizona describes worsening vital signs, malnutrition 12, and inability to urinate, and growing weakness for Warren Jeffs. The leader of the nation's largest polygamous group faced imminent death, the document says, without forced feeding. Jail officials say Jeffs did go back to eating on his own for a few days and seemed to be recovering. But now he's refusing to eat again, making forced feeding necessary again. Jail spokeswoman Trish Carter says Jeffs is in a cell and under 24-hour observation. Attorney Micheal Piccarreta says his client engages in religious fasts from time to time. Jeffs is jailed and waiting trial in Arizona on charges related to so-called spiritual marriages involving underage girls. Howard Berkes, NPR News.

The Securities and Exchange Commission has fined General Electric 50 million dollars, charging the company misled investors 13 in 2002 and 2003. The government says GE bent 14 accounting 15 rules beyond the breaking point. GE did not admit or deny wrong doing but said it's in the best interests of the company and shareholders 16 to pay the penalty.

The government today released its first monthly so-called report card on mortgage companies that are implementing 17 the Obama administration's foreclosure prevention plan. The report says, overall, lenders have modified about 9% of their seriously delinquent 18 loans but notes wide variations.

I'm Barbara Klein, NPR News in Washington.