NPR 2008-10-21

It now appears the Bush administration is having a change of heart when it comes to the idea of a second economic stimulus 1 package aimed at boosting the economy. Both Fed Chairman Ben Bernanke and President Bush said today that they are more open to the idea. Press Secretary Dana Perino told reporters on Air Force One the White House will have to see what kind of package Congress puts together. And testifying on Capitol Hill before the House Budget Committee, Bernanke took a similar stance, though he said it would be up to Congress to determine the size of a second stimulus measure. Earlier in the year, the administration signed off on a 168-billion-dollar plan that included one-time tax rebate 2 checks for individuals and families.

Law enforcement officials have confirmed to NPR that 17 subpoenas 3 were executed as part of an investigation 4 into the connection of the collapse 5 of Lehman Brothers. NPR's Dina Temple-Raston reports from New York.

Investigators 6 began looking at Lehman's books for some sort of fraud, soon after the bank declared bankruptcy 7 last month, among the concerns that Lehman Brothers illegally co-mingled some of its clients' accounts. The officials said Lehman's CEO is among the people subpoenaed 8. Lehman is subject to three criminal investigations 9. US attorneys in Manhattan, Brooklyn, and Newark, New Jersey 10 are all investigating the company. The investment bank is one of a roster 11 of financial companies in the FBI's crosshairs. The FBI has declined to publicly name names, but the bureau keeps revising the number of institutions it says it's looking into. Most recently, FBI Director Robert Mueller has said that the bureau was investigating more than two dozen large financial institutions. Dina Temple-Raston, NPR News, New York.

Home sales shot up in southern California due to plummeting 12 prices. But analysts 14 warn the market is still shaky as 50% of all houses sold in the region were foreclosures. NPR's Carrie Kahn has more.

Granted the Southern California market is one of the hardest hit from the subprime mortgage crisis. But real estate analyst 13 Andrew LePage says it's surprising that half of all homes sold in the region last month were foreclosure sales. "You've got first-time buyers, investors 15 and others out there snapping up what they perceived to be real bargains on some of these foreclosures. And that, you know, it speaks to the depth of the foreclosure problem in California. "

LePage, an analyst with MDA Dataquick, says the medium home prices dropped nearly 40% over last year's figures. But analysts warn that harder times for the real-estate market are still coming, even more home foreclosures are expected, and the September figures are from home sales already in the pipeline 16 before the current financial meltdown. Carrie Kahn, NPR News.

New report from the United Nations labour arm says the financial crisis is likely to cause unemployment to rise globally. UN says it expects the current problems in the credit and financial markets to increase worldwide unemployment by at least 20 million people, bringing the total number of unemployed 17 to around 200 million.

On Wall Street, the Dow was up 413 points.

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Taliban officials are claiming responsibility in the death of a Christian 18 aid worker in Afghanistan, saying the woman was seeking to spread her religion. Taliban gunmen shot 34-year-old Gayle Williams as she was walking to work. However the Christian charity group for whom Williams worked is denying the charges. The group Serving Emergency Relief and Vocational Enterprises or SERVE says Williams was dedicated 19 to aiding the disabled there.

Voters are turning out around the country, including some battleground states to be the crowds on November 4th. Early voting began today in Colorado, Florida and Texas. NPR's Libby Lewis has more.

More than two million people have already cast ballots 21 according to figures gathered from the states, and compiled by George Mason University elections expert Michael McDonald. Thirty one states allow people to vote in person before Election Day. Only four of those states and the District of Columbia were required an excuse to vote early. In Georgia, more than 690, 000 people have voted already, and some 400, 000 voters in North Carolina have cast ballots since last Thursday. In Orange County, California, voters could drive up to an electronic voting booth to cast their ballot 20 for Monday only. Voters in Miami waited for hours at some polling places as early voting began in Florida. Libby Lewis, NPR News.

Key gauge 22 of future economic sentiment showed a slight uptick last month. The New York-based business research group, the Conference Board, says its index of leading economic indicators 23 posted its first rise in five months. The three tenths of a percent increase in the index followed a nine tenths of a percent decline the previous month. So economists 24 credit the slight rise in the index to a jump in the money supplies. The federal government began a series of expensive bailouts for the nation's financial sector 25.