Originally published on Tue July 17, 2012 12:03 pm
High-profile experts are staging two separate Washington press conferences Tuesday to demand action on public-debt problems. One group is targeting state budget crises; the other, the federal budget mess.
If the ancient Greek philosopher Plato were still alive, he might hold a third press conference to declare: "It's hopeless. I told you so. Democracy will always degenerate into chaos because people will vote for their immediate self interests, not the long-term good."
"The U.S. economy has continued to recover, but economic activity appears to have decelerated somewhat during the first half of this year," Federal Reserve Chairman Ben Bernanke tells Congress this morning in testimony prepared for his semiannual report on economic conditions and monetary policy.
And in Silicon Valley, the buzz is the latest hire by Yahoo. Marissa Mayer is the new CEO. Yahoo lured the 37-year-old away from Google, were she was one of that company's most prominent executives. She studied computer science at Stanford, was hired on as employee number 20 at Google, and as NPR's Steve Henn reports, she is something of a rock star in the tech world.
STEVE HENN, BYLINE: For years the rap on Yahoo has been: this company lacks focus.
Europe's largest bank allowed drug cartels to launder billions of dollars through its U.S. operations, and skirted bans against transactions with Iran. Those are among the findings of a Senate investigation of London-based HSBC. Executives from the bank are in Washington for a hearing on the probe.