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Hostess' nearly 18,500 workers will lose their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide, as well as 570 outlet stores. Hostess, maker of Twinkies, Wonder Bread and Ding Dongs, says strike by bakers forcing its closing.

The Federal Housing Administration no longer has reserves to cushion it again rising delinquencies. It raises the question of whether FHA will need a taxpayer bailout.