NPR 2008-07-27

The Senate has overwhelmingly approved and sent to President Bush a landmark 1 housing bill aimed at helping 2 hundreds of thousands of American families avoid losing their homes to foreclosure. The vote came in a rare Saturday session as NPR's Brian Naylor reports.

The housing bill addresses a number of elements affecting the housing sector 3. It shores up Fannie Mae and Freddie Mac, which back nearly half of the nation's home loans. It provides money for communities to buy up foreclosed properties. And it gives hundreds of thousands of homeowners facing foreclosure a chance to get lower-cost, government-backed mortgages. Democratic Senator Chris Dodd of Connecticut: "Every day, between eight and nine thousand of our fellow Americans are put into foreclosure in this country. There've been a record number of bank seizures 4 as well. This is happening in the United States of America, Mr. president. And it simply ought to be unacceptable to every single one of us."  Opponents argued the measure would put taxpayers 5 on the hook by giving Fannie and Freddie an unlimited 6 line of credit, but the Bush administration pushed through the measure as a way to restore stability to the markets. Brian Naylor, NPR News, the Capitol.

 A series of bomb blasts shook the city of Ahmedabad in India today, killing 7 at least 29 people. The explosions occurred just a day after similar attacks hit India's technology hub, Bangalore. Vier Singh reports from New Delhi.

According to local media reports, the latest attacks involved low-impact bombs, such as those used in Bangalore. Authorities say the intention is to disrupt normal life by creating fear. But a major concern in Ahmedabad, a major trading city, is that such an incident could trigger violence between Hindus and Muslims. Meanwhile, political leaders in Bangalore, where several of the world's leading computer software firms operate, are saying there is no threat to the industry. Some companies say they're reviewing their security arrangements. For NPR News, I'm Vier Singh in New Delhi.

Democratic presidential candidate Barack Obama is headed home from London after completing his week-long trip overseas. Obama said the trip was valuable, given the focus of the campaign on Iraq and Afghanistan. "Unless we get a handle on Iraq and Afghanistan, not only are we gonna be less safe, but it's also gonna be a huge drain of resources. If we are spending ten, twelve, fifteen billion dollars a month between those two wars, then that's ten, twelve, fifteen billion dollars that we can't spend at home to rebuild our economy."  But Obama's GOP rival John McCain says Obama's refusal to acknowledge the success of President Bush's troop surge in Iraq is disturbing.  "Even in retrospect 8, he would choose the path of retreat and failure for America over the path of success and victory. That's not exactly my idea of the judgement we seek in a commander-in-chief."  McCain ,also today, spoke 9 via satellite to a disabilities forum 10 in Columbus, Ohio.

 This is NPR News from Washington.

 After six days of negotiations 11, delegates at the latest round of World Trade Organization talks in Geneva say signs of progress are emerging. The goal of the talks is to reduce trade barriers worldwide. Lisa Schlein has more from Geneva.

Delegates from the European Union, the United States, Brazil and Australia say they are hopeful a deal that is good for the global economy is possible. The WTO spokesman Keith Rockwell says if a deal doesn't emerge, the ministers might take a break from the negotiations. But he says they will not abandon the talks. "I don't know what will happen, but I mean I would not, I would not say that all is lost under any circumstances by the end of this week regardless of what happens." A number of sticking points remain. Poor countries want rich nations to cut farm-distorting subsidies 12, and rich countries want to export more industrial goods and services to poor countries. For NPR News, I'm Lisa Schlein in Geneva.

Hundreds of cleanup workers are using skimmers and containment 13 booms to try to corral and sop 14 up the nearly 420,000 gallons of fuel oil that spilled into the Mississippi River this week when a tanker 15 and barge 16 collided. The spill has virtually closed a 100-mile stretch of the nation's busiest inland waterway. Only about a dozen of the 200 or so ships and tankers 17 waiting to travel through the contaminated area have been allowed to do so so far， and only slowly under escort. Pressurized water and steam are being used to clean oil from the hulls 18 of those ships. Officials say so far, the spill has only had limited impact on wildlife, but there is concern about the fragile wetlands downstream.