Friday marks the day that 100 years ago, Grand Central Terminal opened its doors for business for the very first time. The largest railroad terminal in the world, the magnificent Beaux-Arts building is in the heart of New York City on 42nd St. And while it no longer serves long-distance trains, it's still a vibrant part of the city's eco-system.
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?"
Originally published on Thu January 31, 2013 6:56 pm
So what did we learn from Secretary of Defense nominee Chuck Hagel's sometimes rocky confirmation hearing Thursday before the Senate Armed Services Committee?
1) We learned that the former two-term Republican senator from Nebraska with the reputation for speaking his mind and not sticking to his party's talking points has through the years said lots of things that could be used against him in such a setting.