The federal government will announce today a three-part plan that will partner it with private investors to purchase up to a trillion dollars of toxic loans from the nation’s banks, as well as purchase securities backed by souring loans. Check FOX News for more.
A single engine turboprop airplane nose-dived into a cemetery as it approached the Butte airport Sunday afternoon, killing 14 people aboard, including seven children. The plane was believed to be taking its occupants on a ski trip to Montana. The aircraft crashed and burned at Holy Cross Cemetery, 500 feet short of Bert Mooney Airport in Butte, said FAA spokesman Mike Fergus. The plane, a Pilatus PC-12, has a capacity for 12 adults. It was not known whether the extra people aboard was a factor in the crash, since seven of the victims were children. ABC News
A FedEx cargo plane burst into flames after bouncing off a runway in unusually high winds at Tokyo’s main international airport Monday, killing the pilot and copilot and closing a major runway for several hours. The flight from Guangzhou, China, skipped along the main runway at Narita Airport before skidding to a fiery halt, footage from airport security cameras showed. The pilot and copilot – the only people onboard the flight – were identified as Kevin Kyle Mosley of Hillsboro, Oregon and Anthony Stephen Pino of San Antonio, Texas. CBS News
Alaska’s Mount Redoubt erupted three times late Sunday and early Monday, with the largest eruption sending a plume of smoke some 50,000 feet above sea level. Mount Redoubt is roughly 100 miles southwest of Anchorage. MSNBC