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Author Interviews
8:28 am
Fri October 18, 2013

Greenspan: 'I Probably Could Have Caught' Economic Crises

Alan Greenspan served as chairman of the Federal Reserve from 1987 to 2006, the second-longest tenure as chairman in the Fed's history.
Courtesy of Alan Greenspan

Originally published on Fri October 18, 2013 12:23 pm

Alan Greenspan was celebrated as a master of monetary policy during his long chairmanship of the Federal Reserve, from 1987 to 2006. But policies put in place during Greenspan's tenure have been blamed by some for the financial crisis that began shortly after he left, and the so-called Great Recession.

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Parallels
8:05 am
Fri October 18, 2013

Headlines From Around The World

A newsstand in the northern Indian city of Allahabad.
Rajesh Kumar Singh AP

We'll begin with a political scandal in Spain.

The former treasurer of Spain's ruling party said in court Friday that he delivered 7,500 euros in cash to the party's secretary-general, the latest fallout in a political slush fund scandal that has embroiled the Popular Party.

"I delivered the envelope" to Maria Dolores de Cospedal, Luis Barcenas said via videoconference at his trial.

Cospedal has denied the accusation.

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The Two-Way
7:35 am
Fri October 18, 2013

Saudis Reject Security Council Seat, Citing 'Double Standards'

The U.N. Security Council votes on a resolution that will require Syria to give up its chemical weapons, at U.N. Headquarters last month.
Craig Ruttle AP

Originally published on Fri October 18, 2013 2:01 pm

Saudi Arabia says it will turn down a two-year seat on the United Nation's Security Council in protest over "double standards" in resolving international conflicts.

"Saudi Arabia ... is refraining from taking membership of the U.N. Security Council until it has reformed so it can effectively and practically perform its duties and discharge its responsibilities in maintaining international security and peace," said a Foreign Ministry statement issued on state media.

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The Two-Way
7:05 am
Fri October 18, 2013

San Francisco BART Transit Workers Strike

Roxanne Sanchez (left), president of Service Employees International Union Local 1021, speaks during a news conference in Oakland, Calif., on Thursday.
Ben Margot AP

Originally published on Fri October 18, 2013 1:36 pm

It's going to be a frustrating Friday commute in San Francisco after the workers for the region's largest transit system, known as the BART, went out on strike.

The San Jose Mercury News reports:

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Planet Money
3:26 am
Fri October 18, 2013

I Lent $999.78 To The Federal Government*

NPR

Originally published on Fri October 18, 2013 1:29 pm

Earlier this week, I bought a Treasury bill.

Everybody calls Treasury bills T-bills, and they work like this: The government promises to pay holders of T-bills a specific amount on a specific day in the near future. For the T-bill I bought, the government promised to pay $1,000 on Oct. 31.

I bought the T-bill on Tuesday, before Congress had made the debt-ceiling deal, so it was unclear whether I would get paid back on time.

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