Blacks are suffering like no other in housing messing.
Feds take over mortgage giants. With nearly one in 10 U.S. homeowners struggling to pay their mortgages, the Bush administration Sunday took over mortgage giants Fannie Mae and Freddie Mac in an attempt to avoid a complete housing meltdown. Together, the two government-sponsored firms hold or back half of America’s mortgage debt. By putting Fannie and Freddie into a conservatorship - removing CEOs Daniel Mudd and Richard Syron, respectively - it is the “best means of protecting our markets and the taxpayers from the systemic risk posed by the current financial condition” of the two enterprises, says Treasury Secretary Henry Paulson. “…[T]hey will no longer be managed with a strategy to maximize common shareholder returns, a strategy which historically encouraged risk-taking,” Paulson said in a statement. Under the government plan, the Treasury and Federal Housing Finance Agency would purchase a new class of preferred stock in the two entities that “will ensure that each company maintains a positive net worth,” Paulson said.  This is “more efficient than a one-time equity injection, because it will be used only as needed and on terms that Treasury has set,” he said. “With this agreement, Treasury receives senior preferred equity shares and warrants that protect taxpayers. Additionally, under the terms of the agreement, common and preferred shareholders bear losses ahead of the new government senior preferred shares.” While Americans across the racial spectrum are suffering in the current mortgage crisis, nobody has been more affected than Blacks and Hispanics, who, according to the NAACP, have been unscrupulously targeted with high-interest loans. The civil rights group has filed a class-action lawsuit against a dozen and a half of the largest mortgage companies, saying that they took advantage of Black borrowers.

NAACP names voting outreach director. The nation’s oldest and largest civil rights organization, which has made voter registration a key component of its outreach during its century-long history, is taking its voter-empowerment efforts to a new level. “In addition to protecting the right to vote, we will reach out to displaced and recently purged voters who need our assistance in getting their voting rights restored,” said NAACP Interim President & CEO Dennis Courtland Hayes. The NAACP has appointed Kirk Clay to head its Civic Engagement Department, which is designed to remove roadblocks and disincentives to voting. This includes ensuring voter empowerment, protecting voters’ constitutional rights, monitoring redistricting and census statistics and promoting ballot initiatives to address social justice issues. “I am proud to represent the NAACP during this historic moment in time,” said Clay. “One of my priorities will be to ensure that every eligible American who wants to vote can, and that every vote is counted.” Clay worked as the Director of Outreach for major gifts at Common Cause where he also developed a diverse national coalition of strategic partners to promote election reform, ethics in government and government accountability. He worked at the National Coalition on Black Civic Participation as deputy director and is the former co-chair of that organization’s Black Youth Vote program.

Memorial for late comedian scheduled at 10,000 seat venue.

Comedian Bernie Mac will be remembered at noon tomorrow during public services at the House of Hope in Chicago. The 10,000-seat location was chosen as a place for fans, family and friends of the comedian to gather following his pneumonia-related death last week. Mac, whose real name was Bernard McCullough, was 50. The stand-up comic-turned-TV-and-film star has been mourned in public statements from celebrities Brad Pitt, Don Cheadle, George Clooney, Chris Rock, D.L. Hughley and Cedric the Entertainer, among others.

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Bring That Week Back! The world lost two Black giants; another police beat-down is caught on tape; and DMX is in a repeat performance. See the pics here.

Fallen stars will both appear on screen in October

Two legendary Black entertainers, who died on consecutive days this past weekend, will appear together in the forthcoming movie Soul Men. Bernie Mac co-stars with Samuel L. Jackson in the comedy about a musical pair who reunites for a show at the famed Apollo Theater. Mac died of complications from pneumonia a day before real-life soul music legend Isaac Hayes, who also appears in Soul Men, died in Tennessee. Hayes’ death is being investigated, but early reports suggest that he suffered a possible stroke and heart attack. Soul Men hits theaters in October.

Comedian’s family expected that he would pull through from illness

A public memorial is scheduled for this coming weekend at Chicago’s House of Hope after star comedian Bernie Mac’s death due to complications from pneumonia. Funeral arrangements for the popular performer and actor are pending, Mac’s daughter, Je’niece Childress, says. Family members expected that Mac, whose real name was Bernard McCullough, would overcome the illness when he came down with pneumonia three weeks ago. “He had sarcoidosis, but it was in remission,” Mac’s sister-in-law Mary Ann Grossett tells People. “But because he had it, his immune system was compromised.” Of Mac’s wife since 1977, Rhonda McCullough, Grossett adds: “She’s devastated, however, she’s at peace about his transition because of her faith in God. Her faith is what is sustaining her.  Services are scheduled for noon Saturday in the 10,000-seat House of Hope, 752 E. 114th St., Chicago, said Danica Smith, Mac’s publicist. Donations in Mac’s honor may be sent to the Bernie Mac Foundation for Sarcoidosis, 40 E. 9th St., Suite 601, Chicago, IL 60605, Smith said. See more on Bernie Mac at BET.com/News.

The actor-comedian is doing better

Bernie Mac could be out of the hospital soon — at least that’s the word from his publicist, Danica Smith. Smith said in a statement that the 50-year-old comedian is responding well to treatment, and he’s in stable condition. She said, “His family thanks everyone for the well wishes and concerns.” As BET.com reported, Mac was hospitalized for pneumonia on Aug. 1, but during last weekend, widespreads rumors hit the Net saying he had died.

Popular comedian reportedly is still seriously ill, amid false death rumors.

Though fans are breathing a sigh of relief after learning that recent rumors of a comedian’s death were false, the star is still badly suffering from pneumonia, reports one publication. Chicago’s Sun-Times attributes information to sources close to Mac’s family, calling the comedian’s condition “very, very critical.” As BET.com reported on Monday, rumors started over the weekend that Bernie Mac had passed. Publicist Danica Smith refuted widespread rumors that Mac had died this past weekend, saying, “Bernie Mac is still alive and being treated in a Chicago hospital for pneumonia, and is expected to make a full recovery.”

Comedian creates awkward moment at Obama fundraiser
Comedian Bernie Mac is still a Barack Obama fan, though Mac didn’t get a fan’s welcome at an event for the presidential candidate. Mac, a long-time supporter, performed at a recent Hyatt Regency Hotel fundraiser for Obama in Chicago. Some at the $2,300-a-head event resented Mac’s jokes, which included: “My little nephew came to me and he said, ‘Uncle, what’s the difference between a hypothetical question and a realistic question? I said, I don’t know, but I said, ‘Go upstairs and ask your mother if she’d make love to the mailman for $50,000.’” Other jokes reportedly touched on promiscuity and women until one spectator shouted, “It’s not funny! Let’s get Barack on!” Obama followed the popular star of the “Bernie Mac Show,” saying, “We can’t afford to be divided by region or by class and we can’t afford to be divided by gender, which by the way, that means, Bernie, you’ve got to clean up your act next time.” Although he later added, “By the way, I’m just messing with you, man,” Obama’s campaign rep later denounced the comedian’s choice of material, which also included a reference to ‘hoes,’ as “inappropriate.”

Jeffrey Wright arrested in incident involving W. star
Noted actor Jeffrey Wright, who plays Gen. Colin Powell in the filming of an Oliver Stone work on George W. Bush, titled “W.,” has been arrested and, later, freed from jail. Wright and Josh Brolin, who plays the president, were released after allegedly trying to impede police officers who were attempting to quash a brawl. Wright and Brolin were charged with misdemeanors for allegedly interfering with cops in the Louisiana bar incident.

Jamie Foxx to appear on “From G’s to Gents”
The film star who’s executive producing MTV’s “From G’s to Gents” reality series will also make appearances on the show. Jamie Foxx helped conceive the show that airs this week and will groom ‘hood cats into well-mannered young men. Host Fonzworth Bentley says he’s glad to be involved with the show: “It is cool to know how to treat a lady. It is cool to have faith in God. It is cool to go to college. It is cool to have respect for your seniors. I wanted to make sure that the show was edited in a way for that man that’s sitting at home, he can actually take notes.”