When people talk about the Volcker Rule, they often mention JPMorgan Chase, the giant bank where a trader recently made a bad bet that lost $6 billion. The Volcker Rule is supposed to put an end to that sort of thing, by prohibiting banks from trading with their own money.
But some banks that are very, very different from JPMorgan Chase are struggling with an obscure provision in the rule. Specifically, footnote 1,861, which bars banks from investing in something called trust-preferred securities — a rather obscure investment favored by lots of small, community banks invest
Ross Miner is among those competing for a spot on the U.S. Men's figure skating team Friday night in Boston. He is a hometown favorite who is bringing some local flavor to his performance — he's going to tell the story of last year's Boston Marathon bombing.
Alicia Soderberg studies the death of stars. Often, these final moments come as violent explosions known as supernovae. They're spectacular events, but catching one as it unfolds can be tricky.
"You have to be in the right place at the right time, and often we're not," says the professor in Harvard's astronomy department. "So all you can do is do a stellar autopsy and go back and try to pick up the pieces and try to figure out what happened."
North Korean leader Kim Jong Un shocked the world last month when he accused his uncle and mentor of treason and had Jang Song Thaek executed.
The consequences of that purge are reaching beyond North Korea's border. Jang had been in charge of trade with China, and his death has had a chilling effect on ties with North Korea's neighbor and longtime ally.
Originally published on Fri January 10, 2014 4:12 pm
It's 2014 and we're back to full team strength, which means we've returned with your guide to the week's previous tech coverage on NPR (in case you missed it) and from our friends at what seems like an ever-growing crop of tech journalism organizations.
Originally published on Fri January 10, 2014 2:20 pm
Whether you had a job or were looking for one, December was a gloomy month.
The Labor Department said Friday that for December, employers added only 74,000 jobs — about a third as many as most economists had been predicting. That was the lowest level of job creation in three years — not exactly the news that 10.4 million job seekers wanted to hear.
Originally published on Fri January 10, 2014 2:37 pm
When you take a pill, you and your doctor hope it will work — and that helps it work.
That's not a new idea. But now researchers say they know just how much of a drug's effect comes from the patient's expectation: at least half.
When patients in the midst of a migraine attack took a dummy pill they thought was a widely used migraine drug, it reduced their pain roughly as much as when they took the real drug thinking it was a placebo.
We'd like to turn now to a story getting a lot of buzz in Washington. "Duty: Memoirs of a Secretary at War," written by former Defense Secretary Robert Gates, isn't scheduled to be released until next week, but some journalists have already gotten their copies and it's already making headlines.
Former Defense Secretary Robert Gates has been making news all week with his forthcoming memoir. Gates recounts his years leading the Pentagon under both Presidents Bush and Obama during a time of two wars. Yesterday, Gates sat down with Steve. It was his first interview since his book exploded in the headlines, and he's arguing that the book is being misconstrued. We will be broadcasting the interview Monday, but thought we'd take a chance to preview it with Steve here in the studio.