This week saw the end of a years-long, international, multi-billion-dollar battle over one of the most boring things in finance: savings accounts.
At the center of the battle was Iceland, a tiny country where the banks grew into international behemoths during the credit bubble.
The banks got so big partly by convincing foreigners to open up online savings accounts. In particular, lots of people in England and Netherlands opened up "ICESAVE accounts" with a bank called Landsbanki. During the financial crisis, the bank collapsed.
It took years for Democratic Rep. James Clyburn of South Carolina to become who he is today: the highest-ranking African-American in Congress.
And those years included many failures. During a visit to StoryCorps, his granddaughter Sydney Reed, who was 10 at the time of the recording, asks Clyburn a personal question: "Have you ever felt you wanted to quit?"
Good morning. I'm Renee Montagne. When the huge golden cookie that stood for 100 years outside the headquarters of a big German cookie maker went missing, the company put up a reward. Then the kidnapper sent a ransom note. I have the biscuit, it said with text cut from magazines. It demanded the company donate cookies to children in a local hospital, and the reward to an animal shelter. Signed: Cookie Monster. Cute. But so far the bakery has not bitten. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.
Sunday's Super Bowl - a contest between the Baltimore Ravens and San Francisco 49ers - is also a battle of craft breweries. Maryland's Flying Dog Brewery made a bet with Anchor Brewing of San Francisco. The loser must pour the winner's beer in its taproom for a week. And the loser's brewery tour guides will have to wear the winner's Super Bowl championship gear. Could be tough, but if they need a beer after all that, they're all set.
Originally published on Thu January 31, 2013 5:33 am
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It's MORNING EDITION, from NPR News. I'm Steve Inskeep.
RENEE MONTAGNE, HOST:
And I'm Renee Montagne.
This is the time when we begin to find if the emotional power of the Newtown school shooting will translate into political change. People affected by mass shootings are now talking with state and federal lawmakers.
Susan Aaron's daughter escaped the shooting in Newtown after seeing her teacher and friends killed.
Let's sort through what we know and do not know about Israel's reported airstrike on Syria. Syrian officials, the government of Bashar al-Assad, have affirmed that Israeli warplanes struck, although we have conflicting reports about what the target was. We're going to work through the information with NPR's Jerusalem correspondent, Larry Abramson. Hi, Larry.
LARRY ABRAMSON, BYLINE: Hi there, Steve.
INSKEEP: What do you know, and how do you know it?
Note: We originally published a version of this post a few weeks ago. We are republishing it now to coincide with our story airing today on Morning Edition.
All kinds of proposals to reduce gun violence have been floated recently. One idea that has gotten the attention of economists is liability insurance. Most states require car owners to have liability insurance to cover damages their vehicles cause to others; some economists think we should require the same of gun owners.
We reached out to a few economists to get their thoughts.
Boeing is scrambling to figure out why batteries malfunctioned on its 787, prompting officials to ground the airplane this month. And at a time when Boeing most needs its skilled engineers, they're weighing a possible strike. Union leaders are considering the company's final contract offer.
The standoff between Boeing and about 23,000 engineers and technicians — mostly in the Seattle region — has been brewing for months. Dozens of them recently packed a union hall south of Seattle for training in how to run a picket line.