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AP Top News at 7:54 p.m. EDT
(AP Online Via Acquire Media NewsEdge) Fed to curb shady home-lending practicesWASHINGTON (AP) _ The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs. Fed Chairman Ben Bernanke spoke of the much-awaited rules in a broader speech Tuesday about the challenges confronting policymakers in trying to stabilize a shaky U.S. financial system. To that end, Bernanke said the Fed may give squeezed Wall Street firms more time to tap the central bank's emergency loan program.
Iraq insists on withdrawal timetable for US troopsBAGHDAD (AP) _ Iraq's national security adviser said Tuesday his country will not accept any security deal with the United States unless it contains specific dates for the withdrawal of U.S.-led forces. The comments by Mouwaffak al-Rubaie were the strongest yet by an Iraqi official about the deal now under negotiation with U.S. officials. They came a day after Iraq's prime minister first said publicly that he expects the pending troop deal with the United States to have some type of timetable for withdrawal.
McCain, Obama pitch economic plans to HispanicsWASHINGTON (AP) _ Republican John McCain and Democrat Barack Obama sought Tuesday to send the same message to a critical constituency: they understand that Hispanics share the same economic concerns as other Americans _ and they will help the whole country prosper. It was the second time in as many weeks the presidential candidates directly appealed to a Hispanic group. Appearances before a third were on tap for Sunday and Monday, underscoring the fierce fight for these fickle voters.
Panel calls for new war powers legislationWASHINGTON (AP) _ The next time the president goes to war, Congress should be consulted and vote on whether it agrees, according to a bipartisan study group chaired by former secretaries of state James Baker III and Warren Christopher. In a report released Tuesday, the panel says the current law governing the nation's war powers has failed to promote cooperation between the executive and legislative branches. It says the 1973 resolution should be repealed and replaced with new legislation that would require the president to inform Congress of any plans to engage in "significant armed conflict," or non-covert operations lasting longer than a week.
Judge to Bush admin.: Guantanamo is top priorityWASHINGTON (AP) _ A federal judge overseeing Guantanamo Bay lawsuits ordered the Justice Department to put other cases aside and make it clear throughout the Bush administration that, after nearly seven years of detention, the detainees must have their day in court. "The time has come to move these forward," Judge Thomas F. Hogan said Tuesday during the first hearing over whether the detainees are being held lawfully. "Set aside every other case that's pending in the division and address this case first."
Dry, hot weather threatens California fire gainsLOS ANGELES (AP) _ Firefighters on Tuesday faced worsening weather conditions that pushed flames across firebreaks in parts of inland California and chased residents out of one small community. Along the coast, however, an evacuation order was lifted for a lengthy section in the scenic Big Sur area.
Fringe autism treatment could get federal studyCHICAGO (AP) _ Pressured by desperate parents, government researchers are pushing to test an unproven treatment on autistic children, a move some scientists see as an unethical experiment in voodoo medicine. The treatment removes heavy metals from the body and is based on the fringe theory that mercury in vaccines triggers autism _ a theory never proved and rejected by mainstream science. Mercury hasn't been in childhood vaccines since 2001, except for certain flu shots.
Oil extends slide into 2nd day, losing over $5NEW YORK (AP) _ Oil tumbled more than $5 a barrel Tuesday in its second big drop this week, hurling crude back to levels not seen since June 26 as traders wary about the health of the global economy cashed in gains from oil's recent rally. Light, sweet crude for August delivery fell $5.33 to settle at $136.04, after earlier slumping as low as $135.14. The decline followed a $3.92 slide on Monday, bringing oil's two-day drop to more than $9.
Nielsen: TV viewing up overall, but not last weekNEW YORK (AP) _ You wouldn't necessarily know it from last week, but Nielsen Media Research says TV viewership is on the rise. The company said Tuesday that the average American watched 127 1/4 hours of television in May, or the equivalent of more than five full days. That's up from 121 hours and 48 minutes in May 2007.
Cubs acquire pitcher Rich Harden from AthleticsCHICAGO (AP) _ The Chicago Cubs acquired pitcher Rich Harden from the Oakland Athletics in a six-player trade on Tuesday, a day after the rival Milwaukee Brewers landed CC Sabathia. The Cubs received the right-handed Harden and righty Chad Gaudin for pitcher Sean Gallagher, outfielders Matt Murton and Eric Patterson, and minor leaguer Josh Donaldson. "We've been working on Mr. Harden for a few weeks now," Cubs general manager Jim Hendry said.
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