0 The Michigan Daily - michigandaily.com- Thursday, September 18, 2008 - 3A * The Michigan Daily - michigandailycom Thursday, September18, 2008 - 3A NEWS BRIEFS * WASHINGTON Hackers gain access to Gov. Palin's Yahoo account Hackers broke into the Yahoo! e-mail account that Republican. vice presidential candidate Sarah Palin used for official business as Alaska's governor, revealing as evi- dence a few inconsequential per- sonal messages 'she has received since John McCain selected her as his running mate. "This is a shocking invasion of the governor's privacy and a vio- lation of law. The matter has been * turned over to the appropriate authorities and we hope that any- one in possession of these c-mails will destroy them," the McCain campaign said in a statement. The Secret Service contacted O The Associated Press on Wednes- day and asked for copies of the leaked e-mails, which circulated widely on the Internet. The AP did not comply. One person whose e-mail to Palin apparently was among those disclosed, Amy B. McCorkell, declined to discuss her correspon- dence. "I do not know anything about it," McCorkell said. "I'm not giving you any comment." Wired. tom said McCorkell later con- firmed that she did send the e-mail to Palin. JERUSALEM Livni wins in Israeli primary In Foreign Minister Tzipi Livni won a clear victory in the Kadima Party's primary election Wednes- day, TV exit polls showed, placing her in a good position to become Is- rael's first female leader in 34 years and sending a message that peace talks with the Palestinians will pro- ceed. Cheers and applause broke out at party headquarters when Israel's three TV networks announced their exit polls giving Livni between 47 percent and 49 percent, compared with 37 percent for her closest rival, former defense minister and mili- tary chief Shaul Mofaz. Livni sup- porters hugged each other and shed tears of joy. Livni needed 40 percent of the vote to avoid a runoff next week. GALVESTON Ike victims attempt to return home Residents of this hurricane- wrecked island city launched an ill-advised attempt to return to their crippled hometown Wednes- day, but instead fumed in hours of gridlocked traffic only to be turned away at the bridge. Traffic backed up for 20 miles along Interstate 45, the one route onto Galveston Island, jockeying for position with utility workers, repair crews and police trying to begin repairs to the city wrecked by Hurricane Ike five days ago. The city announced Tuesday that people could briefly return under a new "look and leave" plan, causing evacuees all over the state to pack up and head for the coast. Hours later, it abruptly halted the policy out of fear of just the sort of roadway chaos occurring on Wednesday. ATLANTA X-ray alternative to colonoscopy shown *able to spot cancer A long-awaited federal study of an X-ray alternative to the dreaded colonoscopy confirms its effec- tiveness at spotting most cancers, although it was far from perfect. Medicare is already considering paying for this cheaper, less intrusive option that could persuade more peo- ple to get screened for colon cancer. And some experts believe the new method may boost the 50 percent screening rate for a cancer that is the country's second biggest killer. - Compiled from Daily wire reports 4 9160 Number of American service members who have died in the war in Iraq, according to The Associated Press. No new deaths were identified yesterday. Dow Jones index drops 450 points Stock market drops to lowest point since after 9/11 NEW YORK (AP) - The stock market took another nosedive yes- terday as the American banking system appeared even shakier and investors worried that the financial crisis is spinning so far out of con- trol that even government rescues can't stop it. The Dow Jones industrial aver- age, which only two days earlier had suffered its steepest drop since the days after the Sept. 11 attacks, lost another 450points.About $700 billfon in investments vanished. One dayafter the Federal Reserve stepped in with an emergency loan to keep American International GroupInc., one of the world's larg- est insurers, from going under, Wall Street wondered which companies might be the next to falter. A major investor in ailing Wash- ington Mutual Inc. removed a potential obstacle to a 'sale of the bank, and stock in tvo investment banks, Morgan Stanley and Gold- man Sachs, was pummeled. It was the fourth consecutive day of extraordinary turmoil for the American financial system, beginning with news on Sunday that another venerable investment house, Lehman Brothers, would be forced to file for bankruptcy. The 4 percent drop yesterday in the Dow reflected the stock market's-first chance to digest the Fed's decision to rescue AG with an $85 billion taxpayer loan that effectively gives it a majority stake in the company. AIG is important because it has essentially become a primary source of insurance for the entire financial industry. As the stock market staggered, the price of gold, which rises in times of panic, spiked as much as $90.40 an ounce. Bonds, a tradi- tional safe haven for investors, also climbed. "The economy is not short of money. It is short of confidence," said Sung Won Sohn, an economics professor at California State Uni- versity. The financial stocks in the Standard & Poor's 500 dropped even more, falling 10 percent, and insurance that backs corporate debt soared for the last two surviv- ing independent U.S. investment banks, Morgan Stanley and Gold- man Sachs. "It seems as though banks are hoarding cash, no matter what rate they could be lending it at," said David Rosenberg, North American economist at Merrill Lynch. Markets around the world also tumbled, with stocks dropping from Hong Kong to London. Bra- zil's benchmark index saw the larg- est drop, losing nearly 7 percent in a day. Worse, the short-term credit markets remained frozen, with overnight interest rates soaring for loans between banks and for over- night loans to businesses. Long-term loans, however, didn'trise as much. "The worry on short-term loans is you're not sure who the ultimate borrower is," said Brian Bethune, chief U.S. economist at Global Insight Inc. And in case anyone needed addi- tional symbolism, a glass panel near the top of a Bank of America skyscraper in Midtown Manhat- tan fell more than 50 stories onto the street below and shattered. No injuries were reported. In the United States, the falter- ing economy and banking system have begun to dominate conver- sations at dinner tables,' bars and online, not to mention seizing the campaign trail. One blogger, Michele Catalano of Long Island, posted this on Wednesday: "Dreamed about AIG and the stock market, woke up with the urge to stock up on canned goods and shotguns." Mortgage rates,whichhad fallen after the government's takeover of Fannie Mae and Freddie Mac, rose again, removing a glimmer of hope that the housingcrisis, the kindling for the broader financial meltdown, was hitting bottom. And new statistics showed that construction of new homes and apartments fell a surprising 6.2 percent in August to the weakest pace in17 years. The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs. Treasury officials said the action did not mean that the Fed was run- ning short of cash, but simply was a way for the government to better manage its financing needs. Separately, the Securities and Exchange Commission tightened rules on short selling, the practice of bettingthat a stock will fall. A $62 billion money market fund - Primary Fund from Reserve - on Tuesday saw its holdings fall below its total deposits, a condition known as "breaking the buck" that hasn'thappenedto amoney market fund since 1994, Rosenberg said. Money market funds are supposed to be conservatively invested and almost as safe as cash. Democratic presidential nomi- nee Barack Obama appeared Wednesday in a two-minute com- mercial to outline his economic plans and caution it won't be easy to fix the nation's worsening finan- cial problems. "The truth is that while you've been living up to your responsibili- ties, Washington has not," he said. Republican John McCain's run- ning mate, Alaska Gov. Sarah Palin, said of the AIG move: "It's under- standable but very, very disap- pointing that taxpayers are called upon for another one." , The Dow fell 449.36to 10,609.66, finishing near its lowest point of the trading day. The index is down more than 7 percent just this week and more than 25 percent since its record close less than a year ago, on Oct. 9, 2007. Ten dead in embassy attack Government cancels Car bombs killed guards, civilians SAN'A, Yemen (AP) - A car bomb targeting the U.S. Embassy hit the front gate of the compound in Yemen's capital yesterday, a U.S. spokesman said. A senior Yemeni security official said six Yemeni guards and four civilians were killed. The Yemeni guards were assigned to sentry duty outside the embassy by the Interior Min- istry. The civilians were three Yemenis and one Indian national, the Yemeni security official said. The official spoke on condition of anonymity because he was not authorized to speak to the media. Ryan Gliha, the embassy spokesman, told The Associated Press by telephone that there was a second explosion that followed the initial one, but did not know what caused it. Another Yemeni security offi- cial said the embassy was hit by two car bombs and that heavy gunfire lasting around 10 minutes followed the blasts. Several nearby homes were badly damaged by the blasts, he said, but had no information on whether the heavily guarded embassy sustained damage too. A medical official, meanwhile, said atleast seven Yemeni nation- als were wounded and taken to the city's Republican hospital. They are residents of a housing compound near the embassy and included children, he said. Both the security and medi- cal officials spoke on condition of anonymity because they were not authorized to release the informa- tion to the media. Explosions and heavy gunfire were heard near the embassy in the eastern section of San'a and police swiftly cordoned off the area, according to a government security official and an AP report- er at the scene. The AP reporter said ambu- lance cars rushed to the area after the blasts and that hundreds of heavily armed security forces were deployed around the com- pound. Police kept reporters well away from the immediate area of the embassy, he said. Regional TV news networksAl- Jazeera and Al-Arabiya showed shaky footage of the embassy's area following the blasts, with a heavy cloud of black smoke rising from a spot just beyond concrete blocks painted yellow. The embas- sy is ringed by two layers of these blocks, according to San'a resi- dents familiar with the area. The networks also reported that a fire broke out in one of the embassy's buildings. The AP. reporter said a fire truck was seen headed to the scene, but Gliha, the embassy spokesman, denied the report. controversial study CHICAGO (AP) - A govern- ment agency has dropped plans for a study of a controversial treat- ment for autism that critics had called an unethical experiment on children. The National Institute of Men- tal Health said in a statement Wednesday that the study of the treatment - called chelation - has been abandoned. The agency decided the money would be bet- ter used testing other potential therapies for autism and related disorders, the statement said. "There will be parents who are disappointed," said Richard Nakamura, the scientific director of NIMH. "We recognize that for children there is a fine line for the risk-benefit ratio. You have to be pretty certain of the overall safety of the procedure." The agency wasn't confident enough in the procedure's safety, Nakamura said. The study had been on. hold because of safety concerns after another study published last year linked a drug used in the treatment to lasting brain problems in rats. Chelation removes heavy met- als from the body and is used to treat lead poisoning. Its use as an autism treatment is based on the fringe theory that mercury in vaccines triggers autism - a theory never proven and rejected by mainstream science. Mercury hasn't been in childhood vaccines since 2001, except for certain flu shots. Get' em while they're freshmen. They won't be ripe for long. Advertise your group or organization in the Campus Involvement Page Deadline Published Sept. 18 Sept. 25 Contact a.Classified Account Executive at 734-764-0557 or dailyclassified@gmail.com Sports Reh b DoYou Want t Work With Athletes? 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