Our house: President Barack Obama called on Congress today to make it easier for millions of additional homeowners to refinance their mortgages at lower interest rates, even if they owe more than their homes are worth. In doing so, the president conceded his administration’s housing plans so far have not lived up to their promise. Calling the housing problem “massive in size and in scope,” Obama’s proposal would give homeowners with privately held mortgages a shot at record-low rates though a new government program, for an annual savings of about $3,000 for the average borrower. Get the full details on the proposal here.
Speakin’ out: Microsoft took out full-page ads in major newspapers today slamming policy changes at search rival Google that allow it to merge user data across its services. Microsoft offered up its own Web-based alternatives, saying for instance that users of its free email service, Hotmail, don’t have to worry about the content of their emails being used to serve up ads. Microsoft’s denouncements appeared in papers including USA Today, The Wall Street Journal and The New York Times. In response, Google issued a blog post in which it refuted what it called “myths” about its new privacy policy. The company does not dispute that it serves up ads based on words in its email service, Gmail. Both companies offer several controls to prevent advertisers from tracking users’ online activity.
After the gold rush: Legendary rocker Neil Young took his campaign for higher-fidelity digital sound to the stage of a technology conference Tuesday, saying a giant of the industry was on his side: the late Steve Jobs. Young says the Apple co-founder was such a fan of music that he didn’t even use his iPod and its digitally compressed files at home. “Steve Jobs was a pioneer of digital music. His legacy is tremendous,” Young says. “But when he went home, he listened to vinyl (albums).” Young says Jobs was on board with his idea to create a new digital format that has 20 times the fidelity of most current files, including MP3s. “I talked to Steve about it. We were working on it,” Young says. “You’ve got to believe if he lived long enough, he would eventually try to do what I’m trying to do.” Download the full story here.
