Election 2012
6:41 pm
Tue June 12, 2012

As GOP Cashes In, Democrats Search For Billionaires

President Obama at a Democratic Party election fundraiser in Chicago on June 1.
Jason Reed Reuters/Landov

Originally published on Tue June 12, 2012 7:02 pm

The big story of this year's election campaign is big money. Since the Supreme Court, through its Citizens United ruling, has made it easier for corporations, unions and rich individuals to raise and spend unlimited amounts of money, Republicans have seized the advantage.

Right now, an analysis by NPR finds that Republican allied groups are outspending their Democratic counterparts by 8 to 1.

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The Two-Way
6:15 pm
Tue June 12, 2012

From Our Readers: Less Hedginess, More Neology

Our use of the term "hedginess," coined by finance criminologist Bill Black, inspired commenter "Tim Myers" to engage in some neology of his own in order to prove his point:

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The Two-Way
6:05 pm
Tue June 12, 2012

Dimon Will Tell Congress JPMorgan 'Let People Down' With Trading Loss

JPMorgan Chase Chief Executive Officer Jamie Dimon.
Mario Tama Getty Images

Originally published on Wed June 13, 2012 9:00 am

"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."

That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.

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Latin America
5:50 pm
Tue June 12, 2012

Venezuela's Chavez Aims To Beat Cancer, Election Foe

Venezuela's President Hugo Chavez arrives atop a truck at the elections office in Caracas on Monday. Chavez addressed thousands of supporters as he formalized his re-election bid. Chavez's younger daughter Rosines is by his side, and on his right is his brother Adan.
Ariana Cubillos AP

Originally published on Thu June 14, 2012 9:38 am

The crowds came out by the thousands in Venezuela on Monday, flooding the streets of Caracas in red T-shirts just as the nation's populist government had promised.

Hugo Chavez — the country's 57-year-old, bigger-than-life leader — then took the stage. He had arrived in an open truck, minutes after registering as a candidate for the Oct. 7 election.

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Your Money
5:42 pm
Tue June 12, 2012

Credit Card Debt Cut: The Reason May Surprise You

iStockphoto.com

Originally published on Tue June 12, 2012 6:17 pm

A Federal Reserve study showing that Americans lost wealth in the Great Recession turned up another, perhaps more surprising, result: Credit card debt fell sharply.

"The percentage of families using credit cards for borrowing dropped over the period; the median balance on their accounts fell 16.1 percent" between 2007 and 2010, the report concluded.

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Mara Liasson is the national political correspondent for NPR. Her reports can be heard regularly on NPR's award-winning newsmagazines All Things Considered and Morning Edition. Liasson provides extensive coverage of politics and policy from Washington, DC — focusing on the White House and Congress — and also reports on political trends beyond the Beltway.

Pam Fessler is a correspondent on NPR's National Desk, where she covers poverty and philanthropy.

In her reporting, Fessler covers homelessness, hunger, and the impact of the recession on the nation's less fortunate. She reports on non-profit groups, how they're trying to address poverty and other social issues, and how they've been affected by the economic downturn. Her poverty reporting was recognized by a 2011 First Place Headliner Award in the human interest category.

The Two-Way
4:57 pm
Tue June 12, 2012

Feds Say Mexican Cartel Used American Quarter Horse Racing To Launder Money

Mr. Piloto, which federal authorities are trying confiscate, is offered on a website for sire services.
Southwest Stallion Station

Originally published on Tue June 12, 2012 5:06 pm

Federal authorities arrested seven people, today, in connection with what authorities say was a multi-million dollar money laundering operation run by Mexican drug cartel Los Zetas.

The scheme allegedly used the millions earned through the illicit drug trade to purchase, train, breed and race American quarter horses in the United States. The Department of Justice said 14 had been indicted; among them is Zetas leader Miguel Ángel Treviño Morales and his brothers Oscar Omar Treviño Morales and José Treviño-Morales.

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Planet Money
4:55 pm
Tue June 12, 2012

Remembering Elinor Ostrom, Nobel Laureate

Elinor Ostrom in January 2011.
Raveendran AFP/Getty Images

Originally published on Wed June 13, 2012 10:08 am

Elinor Ostrom, the only woman ever to win an economics Nobel, died today at age 78.

She was famous for challenging an idea known as the tragedy of the commons — the theory that, in the absence of government intervention, people will inevitably overuse a shared resource.

So, for example, if a village shares a pasture, it's in the individual interest of each farmer to graze his cattle as much as possible on the pasture even though, in the long run, overgrazing may ruin the pasture for everyone.

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Politics
4:55 pm
Tue June 12, 2012

Where Are The Democratic Billionaires?

Democrats knew that they would be disadvantaged under the new campaign finance rules created by the Supreme Court. But the disparity between the amount of money Republicans can raise in unlimited anonymous donations and what the Democrats have been able to raise is huge.

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