Free Republic

President Obama issued a waiver loosening Tiananmen arms sanctions for C-130 military transports for China a day after the Nobel Peace Prize was awarded to an imprisoned Chinese dissident who dedicated the prize this past weekend to the victims of the 1989 crackdown. Chinese state-run news media on Monday hailed the White House waiver announcement as a sign Washington is moving to lift the 11-year-old arms embargo. However, White House National Security Council spokesman Michael Hammer said the waiver issued on Saturday will not allow C-130s sales. "Under this announcement, we are not selling any aircraft to anyone," he stated...

JERUSALEM – An Israeli decision Thursday to ease its blockade of Gaza under intense international pressure could spell the beginning of the end of the chokehold that has hurt ordinary Gazans far more than their militant Hamas rulers. The order to allow in all foods and some desperately needed construction materials brought calls for Israel to go much further and did little to quell the global outcry over the deadly flotilla raid that tried to bust the embargo. With a naval blockade in place and Israel giving no indication it will lift a ban on Gaza exports, Palestinians dismissed the...

WASHINGTON (Reuters) – The U.S. Department of Housing and Urban Development will loosen terms of its foreclosure-prevention effort so that the program, meant to backstop $300 billion in home loans, can be more effective, the agency said on Wednesday. The Hope for Homeowners program will now insure home loans that have had as little as 3.5 percent of their value erased by the original lender. Under the original terms, a lender would have to write off 10 percent of a failing loan before the government would invest. Investors who hold a stake in failing loans through second liens may receive...