While the Giants Reel, Many Small Banks Are Thriving

Last fall, soon after congress decided it would spend $700 billion to shore up the nation’s flailing financial system, about 100 shareholders of Reunion Bank of Florida gathered for a party. Over crab fondue and London broil, they toasted the start of their spanking new bank

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Space shuttle Discovery on pace for Sunday launch

The space shuttle Discovery is on pace for a Sunday launch after NASA engineers repaired a leaky gas venting system, officials said Saturday. The leak had canceled a planned launch on Wednesday. NASA hopes the seven-member crew can take off around 7:40 p.m.

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Gil Kerlikowske: Obama’s New Drug Czar

President Obama’s choice to head the Office of National Drug Control Policy — otherwise known as the country’s “Drug Czar” — is Seattle Police Chief Gil Kerlikowske. Having served in law enforcement for more than 30 years, Kerlikowske is known as an innovator and fierce defender of community policing principles that emphasize relationships with citizens over force. He’s clashed with city councils over his leadership style, but he’s also built a national reputation while working as a police chief all over the country

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Ponzi Schemes

The $50 billion Ponzi scheme allegedly masterminded by former Nasdaq chairman Bernard Madoff punctuated a miserable year for Wall Street in the worst possible way: by underlining, yet again, that savvy market-makers can harness arcane financial instruments as weapons of mass destruction. Left in Madoff’s wake are bankrupt investors, mortified regulators and a raft of unnoticed red flags.

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Shooter planned ‘to go out in grand style,’ investigator says

The man who killed 10 people, then himself, in a shooting rampage in southern Alabama had failed in his dreams both to become a U.S. Marine and a police officer, and was depressed and unhappy with his life, investigators said Thursday. Michael McLendon, 28, fatally shot his mother in his hometown of Kinston on Tuesday before driving to nearby Samson and Geneva, killing nine more, then fatally shooting himself after a shootout with police.

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Can Obama Keep Moderate Democrats from Bailing on His Budget?

First there was last winter’s $168 billion economic stimulus package, followed by a $300 billion fund in June to help distressed mortgage holders. Then came $350 billion for the banks , another $350 billion for the banks, $787 billion in economic stimulus and $410 billion in an earmark-packed spending package for fiscal 2009 that Congress passed on Tuesday. Dizzy

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Girl recovering after removal of 6 organs, tumor

Seven-year-old Heather McNamara was heading home Tuesday, a month after surgery that temporarily removed organs from her digestive tract to allow removal of a tennis ball-size tumor. According to her surgical team at New York-Presbyterian Morgan Stanley Children’s Hospital, the operation — referred to as an “auto-transplantation” because the patient’s own organs (instead of those from a donor) were reimplanted within four hours after being extracted — is the first of its kind to be performed on a child. “If this doesn’t work, there’s nothing left,” Dr

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