Originally published on Fri December 14, 2012 7:02 am
The bank UBS has been in the middle of a huge investigation into interest rate manipulation. There are several reports that a subsidiary of UBS is making a settlement deal with U.S., British and Swiss officials.
The term "right to work" has been in the news a lot this week. On Tuesday, Michigan became the 24th state to enact right-to-work legislation. It means unions can no longer require workers to pay full dues, even if they're working in a union shop.
Originally published on Fri December 14, 2012 7:51 am
In an interview with David Greene, outgoing Securities and Exchange Commission Chairman Mary Schapiro reflects on her tenure at the agency, and the disappointment that she wasn't able to overhaul money market funds. She leaves the job on Friday.
Originally published on Fri December 14, 2012 6:47 am
It's time for another installment in Morning Edition's 12 Days of Tax Deductions — a check on some of the deductions, credits and tax breaks that could be on the chopping block as the government seeks to raise revenue and reduce debt.
The Consumer Price Index is one of the most familiar measures in economics and politics. But some in Washington want to change the way the index is calculated to better reflect people's shopping habits.
While the proposed change is described as a technical fix, it could also cut the federal deficit by hundreds of billions of dollars over the next decade.
Federal and state authorities have received criticism after deciding not to indict HSBC on accusations that it laundered money for Mexican drug cartels and conducted prohibited transactions on behalf of countries like Iran and Sudan. Instead, they entered into a $1.9 billion settlement this week with the bank.
There's no question that HSBC is a massive, sprawling operation. It markets itself as the world's local bank. But watchdogs of the banking industry say mere size should never insulate an organization from the law.