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News In Brief

MID-DAY UPDATE: Mubarak resigns, phasing-out Fannie and Freddie

Katharine Crnko Feb 11, 2011

Cheers erupted out of Egypt today as Hosni Mubarak stepped down from the presidency, handing over political power to the military. As Alisa Roth reported from Amman, Jordan, no one knows what this will mean for the global economy, and it will be a very long time before Egypt has a democracy — if ever. “It’s really going to come down to who’s in power in Egypt,” Roth says.

The U.S. Treasury Department released a report today outlining the future of Fannie Mae and Freddie Mac. The government’s goal is to wind down Fannie and Freddie and stabilize the housing market. One caveat is that, perhaps, not all Americans should become homeowners, the report states. Homeownership should be a goal for those who have a good credit history and secure finances, David Gura reports.

In his new book, “Moneymakers: The Wicked Lives and Surprising Adventures of Three Notorious Counterfeiters,” Ben Tarnoff follows the lives of three of America’s most notorious counterfeit moneymakers of the 18th and 19th centuries. Few countries, Tarnoff writes, “have had as rich a counterfeiting history as America.” You can learn more about the book and hear Jeremy Hobson’s interview with Tarmoff on our Big Book blog.

It’s an American classic that defined the 20th century — “Over the Rainbow” from the 1939 iconic film The Wizard of Oz. Now, more than 70 years after its first release, the song is popular in Germany. Israel Kamakawiwo’ole’s cover has made the ukulele popular in Germany. The song has made it to the top spot on the German charts for 12 weeks. You can hear many versions of “Over the Rainbow” on our News In Brief blog.

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