Bernanke defends bond-purchase plan

Bernanke defends bond-purchase plan

WASHINGTON

Federal Reserve Chairman Ben Bernanke is stepping up his defense of the Fed’s $600 billion Treasury bond-purchase plan, saying the economy still is struggling to become “self-sustaining” without government help.

In a taped interview with CBS’ “60 Minutes” that aired Sunday night, Bernanke also argued that Congress shouldn’t cut spending or boost taxes given how fragile the economy remains.

The Fed chairman said he thinks another recession is unlikely. But he warned that the economy could suffer a slowdown if persistently high unemployment dampens consumer spending.

Chavez to hotels: House flood victims

CARACAS, Venezuela

President Hugo Chavez said Sunday that he would force privately owned hotels to help shelter tens of thousands of Venezuelans who have left their homes due to floods and mudslides caused by weeks of torrential rains.

He lashed out at the opposition, which has criticized the government’s handling of the floods. He said wealthy Venezuelans have done little to help ease the effects of the floods.

Unabomber land in Montana for sale

LINCOLN, Mont.

A 1.4-acre parcel of land in western Montana that was once owned by Unabomber Ted Kaczynski is on the market for $69,500.

The forested land, which had been listed at $154,500, does not have electricity or running water. Photos posted with the online listing show tall trees, chain-link fences topped by barbed wire and a tree with “FBI” carved into it. The property does not include Kaczynski’s cabin, which is on display at the Newseum in Washington, D.C.

Teen to be tried as juvenile in slayings

CUERNAVACA, Mexico

A 14-year-old boy accused of participating in four beheadings for a Mexican drug cartel will be tried under a state juvenile law and will receive only three years in prison if convicted, a judge said Sunday.

The judge in the state of Morelos made the ruling after a daylong hearing on whether the federal government should handle the case because of the gravity of the allegations against the boy.

Funeral takes place for hostage-taker

MENOMINEE, Mich.

Photographs of a happy teen who camped, canoed and fished greeted mourners as they gathered Sunday for the funeral of a 15-year-old Wisconsin boy who held his social-studies class hostage before shooting himself. None of the hostages was injured.

The stage in a school auditorium in Menominee, Mich., where the funeral took place Sunday afternoon, was decorated with a tent and canoe. Menominee is just across the river from Marinette, Wis., where Sam Hengel held 26 classmates and his teacher hostage for six hours last Monday.

Why Hengel took his class hostage remains a mystery. Other students and his teacher have said he was well-liked and had many friends.

Jackson’s glove brings in $330,000

BEVERLY HILLS, Calif.

Items from Michael Jackson’s stage wardrobe, including one of the King of Pop’s famous gloves, attracted furious bidding at an auction of celebrity memorabilia in Beverly Hills.

Julien’s Auctions says a lone glove worn by Jackson during the “Bad” tour in the late 1980s sold for $330,000 at the “Icons & Idols” auction Saturday night. A jacket signed by Jackson brought in $96,000, and a fedora he wore on stage went for $72,000.

Other highlights were an X-ray of Albert Einstein’s brain, which brought $38,750, and two of Marilyn Monroe’s empty prescription bottles, which sold for $18,750.

Associated Press