Former Federal Reserve Chairman Alan Greenspan told Congress Thursday that the current global financial crisis is a "once-in-a-century credit tsunami" that policymakers did not anticipate. He also blamed soaring mortgage foreclosures, which grew more than 70 percent during the third quarter, on overeager investors.
This week's search of Texas prisons has turned up 13 cellphones in the possession of inmates, authorities have announced of the illicit activity. The systemwide shakedown occurred after the disclosure that a death-row prisoner had used a smuggled cellphone to call a state senator and shared the phone with nine other inmates.
To satisfy the Pentagon's push for greater use of robotic planes, the Air Force said Wednesday it's launching a program to train 1,100 pilots to remotely fly the drones over Iraq and Afghanistan. The goal is to have 50 Predators operating continuously by September 2011, up from 30 today. They do surveillance for ground troops and fire missiles.