For the first time since President Obama took office, the White House has invoked executive privilege in a dispute with Congress. Obama sided with his Justice Department and refused to turn over documents to House Republicans in their probe of the botched gun-trafficking operation known as Fast and Furious. But the aggressive move by the president was not enough to stop a Republican committee from voting to hold his attorney general in contempt.
Spain is in line to get a European bailout of up to $125 billion for its banks. Audits due Thursday will show just how indebted Spanish banks are. But economic uncertainty has already sparked violence.
A new study from the Pew Research Center shows that the gap between states' assets and how much they'll owe retirees in pensions and health care is growing. According to the most recent numbers, for fiscal year 2010 that gap grew 9 percent from the previous year to almost $1.4 trillion dollars.
Oracle CEO Larry Ellison reached a deal to buy nearly the entire Hawaiian island of Lanai. The land is currently owned by billionaire David Murdock who is the CEO of Castle and Cooke and the majority stock holder in Dole Food Company.
Some 12,000 Americans die every year in traffic crashes caused by speeding, according to government statistics. Officials have tried many strategies to get drivers to slow down. And now they might have found something that works, after researchers placed a GPS device inside cars that gives drivers an incentive not to speed.
Traffic safety experts have tried using big flashing signs to tell you how fast you're going. (The psychological subtext: Drivers are rational, and they will slow down if they know how fast they're going.)