Briefs: Oklahoma governor wants federal drought grants, not loans

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OKLAHOMA CITY — Gov. Brad Henry has asked federal officials to reactivate two dormant programs that gave direct grants instead of loans to help farmers and ranchers who have suffered losses tied to a severe drought.

As of Wednesday, much of Oklahoma was rated as having severe to “exceptional” drought conditions by the U.S. Drought Monitor, which judges conditions based on a consensus of federal and academic scientists. Exceptional is the most severe rating.

In letters sent to President Bush and U.S. Agriculture Secretary Mike Johanns, the governor urged the reactivation of crop disaster and livestock assistance programs administered through the U.S. Department of Agriculture’s Farm Service Agency.

The programs each would provide payments, not loans, to farmers and ranchers who suffer losses due to disaster conditions such as drought, said Jack Carson, spokesman for the Oklahoma Department of Agriculture, Food and Forestry.

Fannie Mae won’t face any criminal charges

WASHINGTON — Fannie Mae, the government-sponsored mortgage lending giant, won’t face criminal charges over its multibillion-dollar accounting irregularities, the U.S. attorney’s office said Thursday after two years of investigation.

“We have informed them that we are declining all charges against the company,” said Channing Phillips, spokesman for U.S. attorney Kenneth Wainstein.

In May, the company agreed to settlements with the Securities and Exchange Commission and the Office of Federal Housing Enterprise Oversight over accounting problems and what regulators said was earnings manipulation by the company.

Earlier this month, Fannie Mae said it hoped to complete a multibillion-dollar restatement of its 2004 earnings by the end of this year. The company has not filed an earnings statement since late 2004.

One Justice official said Thursday that it was not expected that any individuals would be charged, either.

Prosecutors want part of Nacchio’s hearing closed

DENVER — Prosecutors have asked a judge to bar the public from part of a motions hearing set Friday in the insider trading case against former Qwest Chief Executive Joseph Nacchio because it could disclose classified government information.

Assistant U.S. Attorney Bill Leone said Nacchio’s attorneys agreed with his motion.

The Denver Post on Wednesday filed an objection to the closed-door request, arguing that the public has extensive interest in the case against Nacchio and other lawsuits involving Qwest Communications International Inc.

Nacchio is charged with 42 counts of insider trading accusing him of selling $101 million in stock in 2001 based on inside knowledge that Qwest would be unable to meet targets because it had improperly used nonrecurring revenue to meet those goals.

Defense attorneys have said Nacchio had access to classified information about national security work as part of Qwest’s business dealings that may have given the former chief executive officer hope for the company’s future.

Qwest is the primary phone service provider in 14 mostly Western states, including Omaha and other parts of Nebraska.

— From news wires

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