The Empire 586

Louisiana Turns to Prayer It has been exactly two months after the Deepwater Horizon oil well exploded in the Gulf of Mexico and the people of Louisiana can't see the light at the end of the tunnel. So Louisiana lawmakers want to call on a higher power than BP for help. The state Senate has unanimously voted on a day of prayer. "Thus far efforts made by mortals to try to solve the crisis have been to no avail," state Sen. Robert Adley said. "It is clearly time for a miracle for us." Meanwhile, BP resumed its recovery efforts Saturday after work was suspended for around 10 hours due to mechanical issues. It meant that it was able to collect 8,480 barrels from midnight to 12 p.m. Saturday, less than half of Friday's 24,500-barrel take. BP CEO Tony Hayward was widely criticized on Saturday for attending a yacht race on the Isle of Wight, but the company's spokesperson jumped to his defense, saying "he's spending a few hours with his family at a weekend. I'm sure everyone would understand that." Meanwhile, one person is coming out on top in this crisis. Once left for dead in his Senate campaign against Marco Rubio, Florida governor Charlie Crist has used the BP spill to show leadership and rise in the polls, writes Samuel P. Jacobs. Read it at The Daily Beast Fannie and Freddie Costs Skyrocket Ever since the government took over Fannie Mae and Freddie Mac, the nation's two largest mortgage providers until the housing market crashed, the cost to taxpayers has risen at an alarming rate. The two government-sponsored enterprises spend most of their time removing owners who can no longer afford their homes, flipping the houses at lower prices and helping the new owners finance mortgages, all with the public's money. And so far, the cost to the federal government has been $145.9 billion, threatening to make it the single most expensive element of the economic recovery plan for taxpayers. That number grows with every single foreclosure—which is bad news since Fannie and Freddie picked up a foreclosed home virtually every 90 seconds over the first three months of 2010—and projections say it could reach $389 billion. By the end of March, the two companies owned 163,828 houses, putting more homes in their control than there are in the city of Seattle. Read it at The New York Times Will Young Voters Turn Out Again? Democrats are spending a huge chunk of precious campaign cash—$50 million—in a plan to reach out to the new voters who turned out to vote for President Obama two years ago. As a rule, far fewer people vote in off-year elections and parties focus on getting out the unglamorous base, which usually consists of lots of old folks. But this time the Democrats are working hard to get 2008's 15 million new (mostly young and minority) voters excited enough to go to the polls, while making another registration push. Rep. Chris Van Hollen (D-MD.), chair of the Democratic Congressional Campaign Committee, calls it a "great experiment." But many in the party worry that the strategy has no chance without a candidate like Obama on the top of the ticket. Most voter enthusiasm also seems to be among Republicans, whose campaign strategists are scoffing at their opponents' plan. Read it at The Washington Post 18 Killed in Twin Car Bombs A pair of car bombs has ripped through crowded Nisoor Square in Baghdad, killing 18 people and wounding 42. The targeted building contained an interior ministry office that issues ID cards and many people were lined up outside when the cars exploded. Police and the Trade Bank of Iraq were also in the offices. The blasts were coordinated, with the vehicles parked a few hundred yards apart. Violence has increased in Iraq since the March elections, when a close result prevented politicians from easily forming a government. Three months later, a coalition still has not been formed. Read it at BBC China Walks Back Currency Pledge A day after China said it would begin to allow their currency, the yuan, to have a more flexible exchange rate, Chinese officials walked back the pledge, saying the yuan would remain stable. Since mid-2008, the yuan has remained at an essentially stagnant rate pegged to the U.S. dollar, a move that helped China stabilize its economy during the economic crisis but has since drawn international criticism. Analysts say that pegging the yuan undervalues the currency, giving Chinese-made goods a competitive advantage in the international marketplace. The promise to allow more flexibility was seen as an attempt to defuse criticism ahead of the G-20 summit next weekend. Calling the yuan "the people's money," the People's Bank of China said it would stay at a "reasonable, balanced level" to maintain economic stability. Read it at Associated Press Poles Voting for New President Two months after tragic plane crash. Will Van der Sloot Die in Jail? "They'll be lining up to kill him," says ex-con. Sweden's Crown Princess Marries Personal Trainer As news organizations refuse coverage. Toy Story 3 Banks $41M Could be record opening weekend. Manute Bol, NBA Star, Dead at 47 Sudanese giant dies of rare skin condition. Sign up for The Yes List email, our weekly cultural recommendations. For more of The Daily Beast, become a fan on Facebook and follow us on Twitter.