Originally published on Fri December 16, 2011 3:24 pm
RENEE MONTAGNE, HOST:
In federal court in New York this morning, the Securities and Exchange Commission charged six top executives of Fannie Mae and Freddie Mac with civil fraud. The SEC says the executives of the giant mortgage companies mislead investors about the amount of subprime loans their companies held during the housing bust. NPR's John Ydstie reports.
"Bonds sat stoically as U.S. District Judge Susan Illston told baseball's home run king that he had avoided prison but must spend one month in his two-acre Beverly Hills estate, two years on probation, serve 250 hours of community service and pay a $4,000 fine.
In this editorial piece, Bob Lochte, chair of the Department of Journalism and Mass Communications at Murray State University, expresses his concerns about the cost of a college education in Kentucky. "Simply put, we are pricing a university education out of the reach of many Kentucky high school graduates at precisely the time more of them are well-prepared to earn Bachelor’s and higher degrees. If this is happening at a relatively low-cost university such as Murray State, the problem looms larger elsewhere. We must do something about this or run the risk of frustrating the aims of more than two decades of education reform," Lochte writes.
Several people throughout Jessamine County and parts of other counties woke up to law-enforcement officers ready to arrest them on drug trafficking charges Thursday morning. In all, 96 people are targeted in a drug roundup as Nicholasville police officers and Kentucky State Police troopers made their way around the area.
Pike County Schools officials believe arson may be to blame for a Thursday morning fire which gutted a school bus at Turkey Creek. Pike Schools Superintendent Roger Wagner said the bus, number 0369, was parked in its normal overnight space near the bus driver’s residence when a fire broke out inside the vehicle at about 6 a.m. Thursday. The bus was unoccupied at the time of the fire and no one was injured in the blaze, Wagner said, adding that he believes the fire was no accident.
Dollar General will add 100 new jobs at its distribution center in Scottsville, bringing total employment for the center to more than 650. The company announced the new jobs Thursday and has been recruiting for the positions. The Scottsville distribution center supplies goods for Dollar Generals in Kentucky and parts of Tennessee and Alabama.
State government will be paying rent to U.S. Bank this year after the bank foreclosed on three office buildings in Frankfort. The buildings, near Buffalo Trace distillery, house offices for state agencies, including the Department of Revenue, Division of Air Quality, Division of Water and Department of Public Advocacy. The bank took action against the buildings’ Floirida-based owners in 2010 after the companies defaulted on a $31 million loan from 2005 to buy the office buildings.
Originally published on Fri December 16, 2011 1:29 pm
Fitch ratings agency, one of the big three, said today that it was considering downgrading the credit ratings of six Euro-zone countries. Italy, Spain, Ireland, Belgium, Slovenia and Cyprus could see their their rating cut by one or two notches.
Kinney Noe has used 42 pints of blood in the fight for his life. During his first surgery at the UK Chandler Medical Center alone, doctors transfused 32 units to keep him alive. “That means that there’s 42 people who had to go in and give blood to give what he needed,” daughter Kindra Witak said. “Had those people not given blood, he would have died the first day.” But Kinney Noe has now survived longer than a month since falling from a tree stand onto a limb that impaled him, damaging his liver, lungs and diaphragm Nov. 13.