The Fed released the details of criteria of the bank stress tests, how the banks would likely hold up under the following conditions:
(1) the economy contracting by 3.3 per cent
(2) unemployment climbing to 10.3 per cent
(3) decline of house prices by 22 per cent in 2009
(4) decline of house prices by another 7 per cent in 2010
GM received another $2 billion loan from the United States government.
The President and Vice-President were dispatched to a “secure location” briefly following restricted airspace violation by two small aircraft.
The Federal Aviation Administration (FAA) released records of aircraft/bird collisions, revealing there were 109,779 such incidents since 1990 that resulted in 11 deaths and 197 injuries.
Acting Director of the Center for Disease Control (CDC), Dr. Richard Besser, held a press conference to update the nation on the spread of Swine Flu and CDC actions to contain it. CDC Website
Day95/April 25th/Saturday: In his weekly address, the President said:
“It’s time to fundamentally change the way that we do business in Washington. To help build a new foundation for the 21st century, we need to reform our government so that it is more efficient, more transparent, and more creative. That will demand new thinking and a new sense of responsibility for every dollar that is spent.” Transcript Video
Day96/April 26th/Sunday: The President golfed at Andrews Air Force Base.
United States Secretary of State Hillary Clinton visited Lebanon.
Day97/April 27th/Monday: The President urged calm in the face of the widening swine flue outbreak, as dozens of cases of swine flu were reported in the United States.
Air Force One flew low over Manhattan for a photo shoot, escorted by two F-16 military jets.
Acting Director of the Center for Disease Control, Dr. Richard Besser, held a press conference to update the nation on the spread of Swine Flu and CDC actions to contain it.
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