House Republicans today released a preliminary spending bill that would slash more than six billion dollars from the budgets of the Departments of Labor, Health and Human Services and Education.The draft bill also bans NPR member stations from using federal funds to buy NPR programming.
David Bagley, HSBC's head of group compliance, resigned in the middle of a Senate hearing today that was looking into charges that the bank had been lax in meeting government requirements, allowing Mexican cartels to launder money and giving terrorists access to the American banking system.
A report (pdf) released today by Human Rights Watch accuses the government of Hugo Chávez in Venezuela of consolidating power in the executive branch and using that power to intimidate his opponents.
"The accumulation of power in the executive, the removal of institutional safeguards, and the erosion of human rights guarantees have given the Chávez government free rein to intimidate, censor, and punish Venezuelans who 'offend' the president or obstruct his political aims," the report found.
Federal Reserve Chairman Ben Bernanke told lawmakers that progress toward bringing down the nation's high unemployment rate will be "frustratingly slow." He reiterated previous statements that the Fed stands ready to do more, but declined to be specific about what it would do. Bernanke also defended the Fed's role in addressing the manipulation of a benchmark interest rate by at least one big bank.
In London, the fight over the G4S security company and the Olympics is growing. More guards failed to show up for work on Tuesday. And the CEO of the massive security company is being grilled by the Home Affairs Committee.
In case you were living under a rock last winter, here's a quick refresher on the phenomenon known as "Linsanity."
In just a few weeks, Jeremy Lin — a lanky Asian-American point guard who played his college ball at Harvard — went from a benchwarmer to a star. He led an unlikely winning streak that made the long-downtrodden New York Knicks seem momentarily relevant in the NBA title hunt.
"This kid has single-handedly done the unthinkable: made people want to watch the New York Knicks," Comedy Central's Stephen Colbert said, joining the media frenzy.