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.
Originally published on Mon November 21, 2011 2:06 pm
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.
This is TALK OF THE NATION. I'm Neal Conan in Washington. After a U.N. report earlier this month bolstered the case that Iran continues work on nuclear weapons, the U.S., Britain and Canada announced new sanctions today. But there's no indication that these or any other sanctions will change Iran's determination, which leaves a range of bad options.
It's not yet official, but all signs indicate the so-called supercommittee will raise the white flag on Capitol Hill later today. The bipartisan panel was charged to cut more than a trillion dollars from federal spending over the coming decade. Failure to reach an agreement means automatic cuts in 2013, half to the defense budget. Yesterday, Democrats and Republicans traded blame on the Sunday talk shows. Does the supercommittee's failure matter to you, and if so, why?