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US charges 3 with negligence in WaMu bank collapse
WASHINGTON (AFP) – The US government accused three bankers Thursday with reckless mismanagement that led to the country’s largest-ever bank collapse during the 2008-2009 home loan crisis. In rare charges brought against bankers involved in the home-finance industry collapse, the Federal Deposit Insurance Corporation told Seattle federal district court that…
Top Republican: Cut taxes by 10% … for the rich
Congressman Dave Camp (R-MI), the chairman of the House Ways and Means Committee, said he hopes to cut the tax rate for the richest individuals and corporations to 25 percent to help spur job growth. The top U.S. tax rate has been 35 percent for both individuals and corporations since…
RNC considered charging networks for broadcast rights to presidential debates: report
Facing a gaping $23 million debt, the Republican National Committee (RNC) is in search of innovative ways to not only close the gap but stay competitive in 2012. Newly elected chairman Reince Priebus has his work cut out for him. So what’s a nearly bankrupt party to do? For one,…
Government employees left in the dark on shutdown procedure
With a budget showdown in Congress and only a short time left before the latest deadline expires, federal government employees have begun to get anxious about what their managers aren’t telling them. Specifically, public sector employees want to know whether they need to start looking for extra work. And they’re…
Jobless claims fall, 4-week average at 2-1/2 year low
WASHINGTON (Reuters) – New U.S. claims for unemployment benefits fell as expected last week, with the four-week moving average dropping to its lowest level in more than 2-1/2 years, pointing to a strengthening labor market. Initial claims for state unemployment benefits fell 16,000 to a seasonally adjusted 385,000, the Labor…
White-collar wiretaps can lead to legal challenges
NEW YORK, March 17 (Reuters Legal) – In the ongoing insider-trading trial of Raj Rajaratnam, the government is firing some potent missiles from its arsenal of 2,400 taped phone conversations. But in a related case, a federal judge recently rebuked investigators for their handling of a wiretap, showing this powerful…
Technological changes may lead to “reading divide”
TOKYO (Reuters) – The rapid rise of e-books could lead to a “reading divide” as those unable to afford the new technology are left behind, even as U.S. reading and writing skills decline still further. At particular threat are African-American communities where many students are already falling behind their majority…
Germany will ‘exit’ nuclear power industry, Merkel vows
BERLIN (AFP) – Chancellor Angela Merkel vowed Thursday that Germany would speed up the transition to renewable energy as Europe’s top economy mulled a “measured exit” from nuclear power after the events in Japan. “We want to reach the age of renewable energy as soon as possible. That is our…
White House calls on Congress to make ‘illegal streaming’ a felony
A white paper recently published by the White House’s Office of the U.S. Intellectual Property Enforcement Coordinator urged Congress to make “illegal streaming” of content a felony and allow law enforcement to wiretap those suspected of being involved in copyright infringement. Under current law, copyright infringement already carries felony penalties,…
Yen hits World War II high against dollar
NEW YORK – The Japanese yen on Wednesday hit its highest level against the dollar since World War II, trading at 79.73 yen to a dollar as investors examined the impact of Japan’s disastrous earthquake and tsunami. Analysts said that heavy repatriation of funds to help the stricken country could…
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