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Sen. Chris Dodd (D-CT) unveiled a financial regulation bill Tuesday that would take the job of overseeing banks away from the Fed, and give it to a new agency. But fellow Democrats Barney Frank (D-MA) and President Obama have a different approach on the issue. David Wessel, economics editor of The Wall Street Journal, offers his insight.

The Army says at least 12 were killed and 31 people wounded in a pair of shootings at the Fort Hood Army base in Texas. An Army spokesman said three shooters were apparently involved.

President Obama will tour several Western locales this weekend, including the western slope city of Grand Junction, Colo. The city is the site of an innovative program for controlling health care costs that the president wants to highlight.

Police in Cambridge, Mass., have released the tapes of a 911 call and radio dispatches that led officers to the home of Henry Louis Gates Jr., where the Harvard scholar was arrested for disorderly conduct two weeks ago.

Attorney General Michael Mukasey says he wants Congress, not judges, to make policy on how Guantanamo detainees may challenge their detention. The U.S. Supreme Court has ruled against the Bush administration three times in cases related to processing Guantanamo detainees.

Calm settled on financial markets and Capitol Hill Tuesday after the House voted Monday to reject the Wall Street bailout plan. The Senate will vote Wednesday on a modified bill. Supporters hope a few changes will also lead to passage in the House.

People who think the change in administrations may save them from having to pay a fine for not having insurance in 2016 could be in for a rude surprise.

Community groups getting federal funds to reduce hospital readmissions made little improvement, an early evaluation finds. The experiment will run for five years.

Demand for summer air travel is strong despite high fares. Travelers, however, should brace for the worst — after widespread flight delays and cancellations last summer.

President Barack Obama unveiled Friday a strategic review of U.S. operations in Afghanistan and Pakistan. The review focuses on building civil society, talking to some militants, troop increases and continued drone attacks in Pakistan.