The Georgia Mae Morning News

In a speech in Phoenix, a signature real estate boomtown gone bust, President Obama today will explain his $50 billion plan to reduce foreclosures. ABC News reports that part of the plan will be aimed at reducing homeowners’ monthly mortgage payments. The proposal will also include government subsidies for lenders to modify loans to homeowners who are struggling to make payments and a program through Fannie Mae and Freddie Mac for homeowners to refinance their mortgages if they owe more than their homes are worth. ABC News

President Obama approved adding some 17,000 U.S. troops for the flagging war in Afghanistan, his first significant move to change the course of a conflict that his closest military advisers have warned the United States is not winning. “This increase is necessary to stabilize a deteriorating situation in Afghanistan, which has not received the strategic attention, direction and resources it urgently requires,” Obama said in a statement. CBS News

The price tag for bailing out General Motors and Chrysler jumped by another $14 billion Tuesday, to $39 billion, with the two automakers saying they would need the additional aid from the federal government to remain solvent. In return, the two companies promised to make further drastic cuts to all parts of their operations — eliminating jobs and cutting some brands. NY Times

Under fire from tens of thousands of users, the wildly popular social networking site Facebook said early Wednesday it is reverting to its old policy on user information — for now. Facebook has been caught in a content-rights battle after revealing earlier this month that it was granting itself permanent rights to users’ photos, wall posts and other information even after a user closed an account. Member backlash against Facebook began over the weekend after a consumer advocate Web site, The Consumerist, flagged a change made to Facebook’s policy earlier in the month. The company, in its post Wednesday, said it was returning to its previous Terms of Use because of the “feedback” it had received. CNN

The frantic owner of a 200-pound chimpanzee that went berserk in Connecticut pleaded with police over the phone to help her stop the animal from mauling her friend, begging them to “Hurry, please! He ripped her face off.” Police in Stamford released 911 tapes of Sandra Herold’s desperate call to police Monday as her 15-year-old chimp, Travis, was attacking 55-year-old Charla Nash. The chimp can be heard grunting at times on the tape, as Herold cries, “He’s killing my friend!” The tapes indicate that Nash was so disfigured the police officers that arrived on the scene thought she was a man. Nash remained was in critical condition early Wednesday with major injuries to her face and hands. MSNBC

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