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Published: July 26, 2008 at 6:01 PM
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Housing bill passed by U.S. Senate

WASHINGTON, July 26 (UPI) -- The U.S. Senate used a rare weekend session Saturday to pass a landmark housing bill meant to mitigate the ongoing mortgage crisis.

The Washington Post said the bill, which offers up to $300 billion in loan guarantees for consumers saddled with subprime, adjustable-rate mortgages, was passed by a Senate vote of 72 to 13.

Sen. Christopher J. Dodd, D-Conn., a strong supporter of the legislation, said while imperfect, the bill would help the nearly 1.5 million families facing foreclosure nationwide.

"Behind every one of those statistics is an American family," Dodd said.

Dodd, who is chairman of the banking committee, unveiled the initial draft of the legislation in March along with Sen. Richard Shelby, R-Ala.

The measure passed the House of Representatives Wednesday and now is poised to go to the White House for President George Bush's signature.

The bill would allow the Federal Housing Administration to insure up to $300 billion in new 30-year, fixed-rate mortgages for at-risk borrowers if their lenders agree to write down loan balances to 90 percent of the homes' current appraised values. It also would establish a stronger regulator for Fannie Mae and Freddie Mac, CNN said.


Ahmedabad blasts kill 15, says report

AHMEDABAD, India, July 26 (UPI) -- A series of blasts Saturday hit several sections of Ahmedabad, killing and injuring dozens in the second such attack on an Indian city in as many days.

The Times of India and other reports said 17 explosions in a span of about 90 minutes tore through crowded parts of the city, killing 15 people and injuring at least 30 more. CNN-IBN also reported 15 dead but some TV stations gave a higher count of the casualties.

The attacks followed similar explosions Friday in India's IT hub Bangalore, in which two died and about 20 were injured.

In Ahmedabad, the first blast was reported about 6:45 p.m. in the suburb of Maninagar, the constituency of Gujarat Chief Minister Narendra Modi. Eight other areas of the city were then hit by more blasts, whose targets included a city bus and two hospitals, reports said.

Ahmedabad is the financial and industrial capital of the prosperous Gujarat state.

The Times of India report said all the explosions were low intensity.

The report quoted police as saying some of the bombs were planted in bicycles. Other reports said they were also planted in motorcycles and lunch boxes, and apparently set off with timers.

In the Bangalore attack Friday, there were nine blasts. No one has so far claimed responsibility for them but Indian intelligence authorities have not ruled out terrorist groups.

In the Ahmedabad blasts, one TV report said intelligence authorities had received a warning from a group calling itself Indian Mujahideen.

Ahmedabad was in the center of the 2002 Hindu-Muslim communal riots in Gujarat state in which more than 1,000 died.


Obama concludes Europe, Middle East visit

LONDON, July 26 (UPI) -- U.S. Sen. Barack Obama, D-Ill., headed back to the United States Saturday following his eight-day visit to Europe and the Middle East.

CNN said the presumptive Democratic presidential nominee's plane left London's Heathrow Airport en route to Chicago, effectively ending his tour of the two regions.

Obama concluded his visit by meeting with British Prime Minister Gordon Brown in London Saturday. Their meeting came shortly after Obama met with former British Prime Minister Tony Blair at a London hotel.

Among the other countries visited by the White House hopeful during his international visit were Afghanistan, Iraq, Israel and Germany.

CNN reported Obama informed reporters prior to boarding his flight home that he intended to sleep the entire overseas journey. Obama is to address the Unity '08 minority journalism convention in Chicago Sunday.


Nine killed in Lebanon

TRIPOLI, Lebanon, July 26 (UPI) -- Violence in Lebanon's northern port city of Tripoli left nine people dead, including two women and a young boy, officials said Saturday.

The victims were killed in violent clashes between the Lebanese army and militants in the Bab al-Tebbaneh district of Tripoli, Alalam news agency reported.

The 10-year-old boy died of injuries from a stray bullet, an official said.

Although a truce went into effect at 6:00 p.m. Friday, fighting could be heard in the city, Alalam reported.

The Lebanese army deployed forces in the city this month, pledging to crack down on rebels.

Clashes between the military and militants have killed 14 people and wounded more than 100 since June.

© 2008 United Press International, Inc. All Rights Reserved.
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