The United States government takeover of American International Group saved the company from going under during the financial crisis of 2008. As The Wall Street Journal reported at the time, the government drove a hard bargain — tens of billions would get it an almost 80 percent stake of the company — but the government argued if AIG went down, so would the rest of the economy and AIG argued if the company wasn't pumped with money, it would collapse. The U.S.
With the members of the congressional deficit-cutting supercommittee essentially announcing that they couldn't get to "yes," the nation is only seeing the latest turn of the screw in the partisan paralysis gripping policymakers in Washington. We all know it is far from the last.
Coming as it does now less than a year before the 2012 general election, the panel's failure to achieve at least $1.2 trillion in deficit reduction means each major political will now be focused on trying to persuade voters that the other party is more responsible for the impasse.
Originally published on Mon November 21, 2011 2:26 pm
This is the month when the stately, voluptuous turkey takes a place of pride on most dinner tables. But when it comes to dessert, it's worth considering the relevance of another bird — the humble magpie.
That's because, according to the Oxford English Dictionary, the word "pie" — defined as a baked dish topped with and sometimes also surrounded by pastry — may well derive from the Latin word pica, meaning magpie.
A report from the International Atomic Energy Agency, which concluded Iran was working on nuclear weapons, continues to reverberate internationally. Yesterday, in an interview with CNN's Fareed Zakaria, Israel's Defense Minister Ehud Barak was asked bluntly if Israel would attack Iran's nuclear facilities.
The Justice Department lawyers who prosecuted Sen. Ted Stevens (R-Alaska) will not face criminal contempt charges for failing to share evidence that could have helped his defense team, a federal judge said Monday.
U.S. District Judge Emmet G. Sullivan and the special prosecutor he appointed, Washington lawyer Henry Schuelke, had tough words for the Justice Department, though.
From Cairo's Tahrir Square, where three days of clashes between authorities and thousands of protesters have left more than 20 people dead and more than 1,700 injured, NPR's Soraya Sarhaddi Nelson says the Egyptians who have taken to the streets again: