Marketplace Morning Report for Wednesday, August 1, 2012
A federal housing regulator is rejecting a White House plan to help borrowers who are underwater on their mortgages. There are about 11 million people in that category. The power is coming back on this morning in India after yesterday's huge blackout, blamed in part on rising demand for electricity in one of the world's fastest growing economies. But in China, a blackout like this would be unthinkable. And there's more sun and heat in the forecast for St. Louis -- not great for a region that's in the midst of the worst drought in decades. The drought is now shrinking the shipping lanes in the Mississippi River.