Bernanke says he erred in gauging mortgage fallout (AP via Yahoo! News) Federal Reserve Chairman Ben Bernanke acknowledges he was wrong in believing that there would be limited fallout to financial markets from risky mortgages that soured after the housing market's collapse.

Venezuelans vote under Chavez shadow in local polls (AFP via Yahoo! News) Venezuelans voted Sunday in local elections seen as a popularity test for leftist President Hugo Chavez, a year after the anti-US leader lost a referendum on extending his authority.