WordPress MU

Using 1.3 and i would like to place the latest news on the front page of home.php. Something like http://thoughts.com. Is there a plugin or code that will do this?

http://mu.wordpress.org/forums/search.php

Yea, i tried searching before i made the original post. I don't see what i am looking for

http://mu.wordpress.org/forums/search.php?q=parse+rss+feed

Thanks andrea_r, i don't guess i was searching on the right terms :)
Anyway, i am trying simplepie plugin for wordpress. It is in the plugin folder and activated and shows in the admin panel under options->simplepie. But when i add < ? php echo SimplePieWP('http://simplepie.org'); ? > to the home.php file, simplepie does not display the feed and the home.php page does not finish loading. What i mean by "does not finsih loading is this: wherever i put < ? php echo SimplePieWP('http://simplepie.org'); ? > in the file, the part after that does not load. Simplepie dos work in the sidebar of a user blog but i don't want it in a user blog, i would like to have it on the home.php page. Here is what i get in the error logs:
Call to undefined function SimplePieWP() in /srv/www/htdocs/sites/MTwG/wp-content/themes/home/home.php on line 40, referer: http://mytimewithgod.net/

EDIT-Duho!!!! The plugin is not enabled for the "home" site........

hey, is that even WPMU?

anyways, there are a number of recent post plugins which will do what you linked to. check out wpmudev. if you must use RSS, try this:

http://www.ozpolitics.info/blog/2005/03/28/aggregated-blog-feeds/