In other news, Manuel Zelaya, the deposed president of Honduras, announced Monday he has returned to the country, and AIG repaid the federal government $60 billion.
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In other news today, the deposed president of Honduras claimed he has returned home. Manuel Zelaya made the announcement on local television in Honduras. Later, it emerged he has taken refuge inside the Brazilian embassy there. Zelaya was forced out of the country in late June.
Insurance giant AIG has made some progress to pay back the federal money it received. The U.S. Government Accountability Office reported today AIG has repaid about $60 billion. It still owes $120 billion. AIG was rescued last fall after huge losses on insuring subprime mortgages nearly drove it under.
On Wall Street, stocks were mixed, as the market took a pause in its ongoing rally. The Dow Jones Industrial Average lost 41 points to close at 9,778. The Nasdaq rose 5 points to close at 2,138.
Bank of America will face a federal trial over charges involving nearly $6 billion in bonuses at Merrill Lynch. The Securities and Exchange Commission has charged Bank of America failed to tell shareholders it approved the payments. That was before it took over Merrill Lynch last year. Last week, a federal judge threw out a proposed settlement of the civil case.
The head of the Federal Communications Commission proposed open Internet rules today. He called for all wireless carriers to abide by the same rules that wired networks have to follow. Some wireless carriers, such as AT&T, have blocked file-sharing traffic because they take up so much capacity. The carriers argue heavy users can slow traffic for everyone.