National / International News

Five years on, Dodd-Frank still controversial

Marketplace - American Public Media - Tue, 2015-07-21 02:00

It’s been five years since the Dodd-Frank Act became law, with the goal of preventing the chaos of the 2008 economic crisis from happening again.

But the question whether it’s worked is just as polarizing as the law itself was back then. The law affects Wall Street, banks, whistleblowers, consumer protection, and other sectors of the financial industry.

Michael Greenberger, a law professor at the University of Maryland, says there have been flaws in the implementation of the law, but “the dangerous trading, to the extent Dodd-Frank reaches it and controls it, has been substantially mitigated because of the fact that it’s not a dark market anymore.”

In order to mitigate that “dangerous trading” that led to the 2008 market crash, the Securities and Exchange Commission had to write lots of new rules, and the agency isn’t done. Richard Williams of the Mercatus Center says the sheer number of new rules is too big a burden, particularly for banks. He says that makes it harder for banks to lend.

“I don’t think anybody knows precisely what this is going to do to the financial sector," he says.

The SEC says all those rules are making the financial markets stronger and more resilient.

An inflation of profits at Toshiba

Marketplace - American Public Media - Tue, 2015-07-21 01:58
$1.2 billion

That's how much Toshiba profits have been inflated over several years, according to an independent inquiry. On Tusday, CEO Hisao Tanaka and several other executives resigned in light of the findings. As Reuters reports, the scandal comes at a time when Prime Minister Shinzo Abe is trying to rebuild the country's reputation in the global financial market.

5 years

That's how long it has been since the Dodd-Frank Act became law. But even though it's been around for a while, that doesn't mean the Securities and Exchange Commission is done revising and adding new rules. It leaves some experts worried that too many rules will burden banks from lending.

21 percent

That's how much hotel construction has grown over the past year, according to data from STR. With this boom in competition, not to mention Airbnb, rates for hotel rooms have stayed low — a welcome development for Europeans visiting the U.S., as the dollar remains strong against the euro.

$55

That's how much Star Wars superfan Ken Landrum charged per file to re-create his 40-piece, 3-D printed Stormtrooper gun. By offering his design to the public, he is effectively offering merchandise eight months before the next Star Wars film hits theaters, and five months before the official wares from the movie are offered in Disney stores. The Wall Street Journal takes a look at what the era of home 3-D printing might mean for Hollywood merchandising.

£20

That's the value of the note which will get a bit of a face lift in the UK — for the past two months, the Bank of England accepted nominations from the public of British visual artists they thought should be featured on the new note. Among the nominees are Alexander McQueen, Beatrix Potter, and Marie Tussaud. Check out the full list of nominees here. From this list, 3-5 finalists will be chosen by an advisory committee, from which the Governor will pick the face of the new £20 note in spring 2016.

Fix found for 'critical' Windows bug

BBC - Tue, 2015-07-21 01:57
Microsoft has released an emergency patch for a "critical" bug present on almost every version of Windows.

Hole-in-one golfer's clubs go astray

BBC - Tue, 2015-07-21 01:55
A golfer who made a hole in one at The Open just days ago has been left without his clubs after they went astray during a flight to Switzerland.

In Transylvania, Donating Blood Will Get You Concert Tickets

NPR News - Tue, 2015-07-21 01:44

The Romanian region is the home of Dracula, but less than 2 percent of the people donate blood.

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Sussex's Yardy announces retirement

BBC - Tue, 2015-07-21 01:33
Sussex all-rounder Michael Yardy announces he will retire from all forms of cricket at the end of the season.

Los Angeles Angels Blow Dry Their Wet Field With A Helicopter

NPR News - Tue, 2015-07-21 01:24

After the Angels had their first game rained out in 20 years, they called in the helicopter to dry out the field.

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MP defends 9p car trip expenses claim

BBC - Tue, 2015-07-21 01:24
Conservative MP Rob Wilson, defends claiming 9p on expenses for a 352-yard car journey, but admits such a small claim might look "odd".

Newcastle sign £13m striker Mitrovic

BBC - Tue, 2015-07-21 01:14
Newcastle United sign Belgian league top scorer Aleksandar Mitrovic from Anderlecht for a reported £13m.

Labour split underlines leader's task

BBC - Tue, 2015-07-21 01:11
Almost 50 MPs defied acting Labour leader Harriet Harman - can her successor persuade the party to back welfare reforms?

Charlie's new brain: "Accept, adapt, embrace"

BBC - Tue, 2015-07-21 01:08
Getting used to the differences after a brain injury

Sir David Frost's son dies suddenly

BBC - Tue, 2015-07-21 01:08
The eldest son of presenter and broadcaster Sir David Frost dies aged 31 after collapsing while jogging

Funeral held for F1 driver Bianchi

BBC - Tue, 2015-07-21 01:06
The funeral of Jules Bianchi is being held in his hometown of Nice as tributes to the French Formula 1 driver continue to be paid.

The Secret Talks That Led To The Negotiations With Iran

NPR News - Tue, 2015-07-21 01:06

Host Renee Montagne speaks with former diplomat Bill Burns about the secret talks he initiated with the Iran. That paved the way for the negotiations that produced the breakthrough nuclear deal.

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There's Little To See, But Cubans Gather Outside U.S. Embassy

NPR News - Tue, 2015-07-21 01:06

The official reopening of the U.S. Embassy in Havana won't happen until Aug. 14. But Cubans were on hand as the U.S. and Cuba resumed full diplomatic relations after a break of more than 50 years.

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A Death In A Texas Jail Stirs Suspicion

NPR News - Tue, 2015-07-21 01:06

Sandra Bland was found dead in a Texas jail last week. Her jailers say the African American woman committed suicide. But the case has triggered a wave of suspicion on social media.

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From Hollywood To Des Moines, In Search Of Political Action

NPR News - Tue, 2015-07-21 01:06

Brent Roske is a Hollywood writer-producer-director who's come to Des Moines, Iowa, where he's started a television show that's rapidly become a destination for presidential candidates.

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Ohio Governor John Kasich Gets Ready To Join The Republican Race

NPR News - Tue, 2015-07-21 01:06

Ohio Gov. John Kasich plans to join the crowded field of Republican presidential candidates with a speech Tuesday morning in Columbus, Ohio.

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The Greek Banks Are Open Again, But The Sales Tax Just Went Up

NPR News - Tue, 2015-07-21 01:06

The good news for Greeks is that banks are open again. The bad news is a sales tax hike that's made most things more expensive. It's an attempt to raise more tax revenue and balance the budget.

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Facing Tough Competition, A&P Seeks Bankruptcy Protection

NPR News - Tue, 2015-07-21 01:06

The grocery store chain A&P has filed for bankruptcy. Stiff competition in the food retail industry is forcing the storied company to sell off or close almost 300 stores around the Northeast.

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