Heads are rolling at the British bank Barclays after it admitted to rigging a key interest rate known as the LIBOR — short for "London Interbank Offered Rate."
European leaders meet in Brussels on Thursday for the start of a two day summit in what many are hoping will be a turning point for resolving the euro zone crisis. Expectations are high that a deal can be brokered by Germany and France to overhaul economic rules and create confidence in the beleaguered currency. Treasury Secretary Timothy Geithner met with European officials earlier this week, a sign of American interest in reaching a resolution. But some economists and politicians are beginning to question whether, from the U.S. perspective, the euro is really worth saving.
This week we’ve been asking listeners to suggest big ideas on how to fix the economy. We’ve discussed raising inflation, boosting housing prices, and capping total compensation for CEOs at $5 million. Today we're talking about another idea: taxing the rich. The Bush Tax Cuts essentially mean that if you make money with money, you pay less in taxes. And if you make money from a job, you pay more. Economists and tax analysts agree that the cuts disproportionately benefit the richest Americans. And some wealthy Americans — including Warren Buffett — are calling for the rich to be taxed at a higher rate.
The U.S. Bureau of Labor Statistics will release the latest unemployment numbers on Friday. In anticipation of what could be discouraging news, we're kicking off a weeklong series about unemployment-related issues. Today we focus on the long-term unemployed. What can be done to get them back in the job market? Our guest says one solution is offering incentives to employers to hire the long-term unemployed over those who already have jobs.
Between the news this week that James Cameron is predicting that all movies theatrese will be 3D within five years AND the latest movie craze to hit Hong Kong, like ah, 3D Soft Porn in packed theatres around the country, we want to ask whether anyone is excited about 3D and whether it is really will dominate our movie going experience in the near future.