"Remain aggressive." That's the message Attorney General Eric Holder says he has given to prosecutors around the country about pursuing wrongdoing by financial institutions — particularly, wrongdoing related to the financial crisis of 2008.
But as the five-year anniversary of the crisis approaches, the record of prosecutions against high-level Wall Street executives has been dismal.
While the Obama administration presses forward with plans to deal with climate change, Congress remains steadfast against taking action. It's not easy to find a scientist who will agree with that point of view. But Republicans have found an ally in a climate scientist by the name of Judith Curry.
"If you could imagine a grandfather clock and see the pendulum swinging back and forth, ideally that pendulum would swing back and forth very uniformly," Ludlow says. "Each swing would take exactly the same amount of time."
That's stability. But what if something perturbs the system, like a mischievous toddler?
Originally published on Thu August 22, 2013 4:46 pm
President Obama unveiled a plan on Thursday that would, for the first time, tie federal student aid to a new rating system for colleges and universities. While the president's message that higher education costs should be reined in was simple enough, the sweeping proposal is anything but.
The former politician Bo Xilai offered a spirited defense in court in China on Thursday, surprising observers who had expected a quick show trial to end the country's biggest political scandal in decades. However Bo was allowed to cross-examine witnesses and tell judges he had been framed in the bribery charges against him. He said he had confessed to the charges under psychological pressure during interrogation.
More than 330,000 people filed new claims for unemployment insurance benefits last week. That sounds like a big number — and is a slight increase over the previous week — but it's being taken as some very good news. For a month, now, fewer new people are asking for unemployment insurance than at any time since November, 2007. That's before the Great Recession.
Originally published on Thu August 22, 2013 4:10 pm
The Packard plant, which once symbolized the might of America's auto industry, is at risk of heading to auction if a pending development deal fails. If that happens, The Detroit Free Press reports, the 35-acre site eventually could be sold "for as little as $21,000," a figure that comes from Wayne County Deputy Treasurer David Szymanski.