Why is Bank of America settling with Fannie Mae for $11.6 billion?
Bank of America bought mortgage lender Countrywide just before the recent collapse of the housing market. It was subsequently discovered that many lenders, including Countrywide, had made home loans without doing enough due diligence to ensure that the risk of those loans was as promised to investors -- including the firms Fannie Mae and Freddie Mac, which buy and package mortgages into bonds to sell to investors. The payment, which settles claims resulting from soured mortgage-backed investments, is in the form of $4.9 billion in cash and the buyback of $6.75 billion in loans. - AP
Why is the rise of rates of sex-related cancer higher than expected?
The rate of cancer linked to the sexually-transmitted strains of the human papilloma virus, or HPV, increased from 2000 to 2009. Health experts had expected the rates to fall because of the introduction of a vaccine against the virus that is recommended for preteens. Far fewer people than expected have opted to get vaccinated, however, resulting in a disappointingly high rate of new cancer cases, according to a study published Monday in the Journal of the National Cancer Institute. - Bloomberg
How did a quick-thinking New Yorker use technology to get back his stolen cellphone?
Jazz trombonist Nadav Nirenberg saw in his email that someone was sending messages to women using a dating app on the phone he had left in a cab the night before. He posed as a woman on the dating site and suggested a rendezvous. When the thief arrived at Nirenberg's Brooklyn apartment building with wine, the musician greeted him with a $20 bill while holding a hammer -- just in case, the Associated Press reported. The thief handed him the phone and left without a word. - AP