U.S. News & World Report - In a move that suggests its initial rescue plan was insufficient, the Obama administration yesterday announced plans to widen the eligibility parameters of a key housing initiative. The change would allow borrowers with mortgages valued at 125 percent of their home's worth to refinance into more affordable loans. Previously, only borrowers with so-called loan-to-value ratios of 105 percent or less could do so. The mortgage refinancing program is part of the president's two-pronged plan to pull the nation out of its worst housing slump since the Great Depression. ...

Reuters - A U.S. drone aircraft fired missiles on Friday into Pakistan's South Waziristan region, killing 10 militants, officials said, ahead of an expected Pakistani military offensive in the area.