At Boston, Massachusetts: as of 11:54 PM
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| TOP STORIES | | | [3 hours ago ] (Scot Yount, NECN) - 78-year-old Matilda Winslow lives on a fixed income in Boston’s Dorchester neighborhood. She gets some free heating oil each winter from citizen's energy.
This was the scene four years ago. It could have been dismissed as a... | | | read more  | | | [3 hours ago ] UNITED NATIONS (AP) - The United Nations said Monday there is an
"increasingly alarming" humanitarian crisis in Gaza, directly
contradicting Israeli denials that its offensive caused the growing
problem.
U.N. humanitarian chief John Holmes... | | | read more | | | [6 hours ago ] (Brian Burnell, NECN) - As the economy falters states and cities across the country deal with budget deficits. Some in the billions of dollars. In Connecticut -- the state's three biggest cities are looking for help, and one US Senator hopes the incoming... | | | read more | | | | | |
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| | | | Breaking News [ 3 hours ago ] | | |
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BUSINESS:
Bush Admin. takes control of mortgage giants
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| September 7, 2008 Bush Admin. takes control of mortgage giants
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(NECN/ABC) - The Bush administration on Sunday announced that they are taking control of mortgage giants Fannie Mae and Freddie Mac.
The following video is part of a raw press conference from Henry Paulson, US Treasury Secretary.
Both the executives have been replaced. Herb Allison the former vice chairman of Merrill Lynch will head Fannie Mae and David Moffett a former vice chairman of US Bancorp was chosen to lead Freddie Mac.
Henry Paulson the US Treasury Secretary stated that the actions were being taken because, "Fannie Mae and Freddie Mac are so large and so interwoven in our financial system that a failure of either of them would cause great turmoil in our financial markets here at home and around the globe."
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