ALERT: PRESIDENT OBAMA WILL BE ON THE TONIGHT SHOW WITH JAY LENO AT 11:35PM ET / 10:35PM CT
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President Barack Obama smiles as he is warmly received before speaking about housing at Desert Vista High School in Phoenix, Arizona.
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USA Today: Obama Says It Is Time To Wind Down Fannie And Freddie
Almost five years after taxpayers bailed out mortgage giants Fannie Mae and Freddie Mac, President Obama said on Tuesday that it’s time for private investors to take a bigger role in the mortgage market. Fannie and Freddie collapsed in 2008 before being bailed out with almost $200 billion in taxpayer funds. But with the nation’s real estate market on the mend, Obama said in an address in Phoenix on home ownership that it is time to wind down the two companies and make clear that the days of a guaranteed government bailout are over.
“For too long, these companies were allowed to make big profits buying mortgages, knowing that if their bets went bad, taxpayers would be left holding the bag,” Obama said. “It was heads we win, tails you lose. And it was wrong.” With his remarks, Obama for the first time endorsed bipartisan efforts in the Senate for mortgage reform. At the same time, he made it clear that he expects any legislation will spell out a limited government role for backing Fannie Mae and Freddie Mac in the future, and that it must ensure Americans’ continued access to a 30-year mortgage at a fixed interest rate.
More here
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USA Today: U.S. Files Criminal Charges Over Benghazi Attack
A Libyan militia leader has been charged in last year’s terrorist attacks on the U.S. consulate in Benghazi that left U.S. Ambassador Chris Stevens and three other Americans dead, two federal officials said.
Ahmed Kattalah is the first person to be charged in the Sept. 11 incident that sparked a political firestorm about the initial U.S. response to the assault.
Because the charges remain under seal, the officials were not authorized to comment publicly.
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https://twitter.com/jesseberney/status/364885406233264128
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President Barack Obama tours the home framing assembly area at Erickson Construction in Chandler, Arizona.
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AP: US Gov’t Sues BoFA Over Mortgage Bond Sale
The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and misled investors in its sale of $850 million of mortgage bonds during 2008. The Justice Department filed a lawsuit Tuesday against the bank and several subsidiaries in federal court in Charlotte, N.C., where Bank of America is based. The Securities and Exchange Commission filed a related lawsuit against Bank of America there, too.
The lawsuits accuse the second-largest U.S. bank of misleading investors about the risks of the mortgages tied to the securities. And the government said the bank failed to tell investors that more than 70 percent of the mortgages backing the investment were written by mortgage brokers outside the banks’ network. That made the mortgages more vulnerable to default, they said. The bank disclosed the percentage of such mortgage loans in the investment only to a select group of investors, the suits alleged.
More here
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https://twitter.com/NerdyWonka/status/364851321809022977
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CBS News: CDC: Obesity Rates Falling Among U.S. Preschoolers
A new government study of preschoolers shows there has been progress in the fight against childhood obesity. The Centers for Disease Control and Prevention’s new report found about one in eight preschool-aged kids are obese, but the rates may be falling. CDC researchers studied more than 11 million low-income preschool children in 43 U.S. states and territories from 2008 through 2011. They found obesity rates fell in 18 states and the U.S. Virgin Islands. Health officials hope the findings are a sign of things to come.
“Today’s announcement reaffirms my belief that together, we are making a real difference in helping kids across the country get a healthier start to life,” Mrs. Obama said in a news release from the White House. “Yet, while this announcement reflects important progress, we also know that there is tremendous work still to be done to support healthy futures for all our children,” she said.
More here
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Read First Lady Michelle Obama’s Full Statement
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https://twitter.com/NerdyWonka/status/364851927948861440
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Jessica Chasmar: Oprah Winfrey: Trayvon Martin ‘Same Thing’ As Emmett Till Lynching
While promoting her new movie “The Butler,” Oprah Winfrey told The Grio that the death of Trayvon Martin was the “same thing” as the lynching of 14-year-old Emmett Till for allegedly flirting with a white woman in 1955. “Let me just tell you — in my mind, same thing,” she said in a preview of the interview on MSNBC. Last week, Oprah said Americans know “diddly-squat” about the history of the civil rights movement. She also said that when she hears the N-word, she thinks of the “millions” of people “who heard that as their last word as they were hanging from a tree.
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So delightful to watch. Yay FLOTUS!
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The Grio: Michelle Obama Turns To Hip-Hop To Promote Childhood Obesity Campaign
Michelle Obama is adding another fun element to her healthy kids campaign that seeks to tackle the issue of childhood obesity. Like her husband, the first lady has turned to hip-hop to demonstrate a point. She is distributing a hip-hop album complete with 10 music videos and 19 tracks to support her “Let’s Move!” nutrition program. Obama is partnering with Hip-Hop Public Health and Partnership for a Healthier America to release thenSongs for a Healthier America album on September 30th.
The single “Everybody” features the first lady joined by songstress Jordin Sparks, emcee Doug E. Fresh, and medical expert Dr. Oz. The video shows children of all ages dancing lightheartedly between takes of kids doing jumping jacks push ups, and drills.
“For years I have known that we need to reach children in the formative years to educate them to live a life of prevention,” said Dr. Mehmet Oz. “The best way to do this is to build a bridge with the artists that they see on television and listen to. When someone like Doug E. Fresh shows our youngsters that health can be fun and cool, we are winning the battle.” Some other songs on the album include “Veggie Luv”, “Hip Hop LEAN”, and “Get Up Sit Up” most of which will be hip-hop based, according to U.S. News and Wold Reports.
More here
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President Barack Obama listens as Lisa Monaco, Assistant to the President for Homeland Security, briefs him on the terror threat, in the Map Room of the White House, Aug. 6, 2013. Also participating in the briefing are National Security Advisor Susan E. Rice and Chief of Staff Denis McDonough. (Official White House Photo by Pete Souza)
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President Barack Obama meets with former Negro League baseball players in the Cross Hall of the White House, Aug. 5, 2013. (Official White House Photo by Pete Souza)
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The Obama Diary 
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