Even as President Obama is following in Eurosocialist footsteps, the 14-year utopian experiment on a single currency is collapsing. The architect of the euro just ran up the white flag on the biggest policy mistakes in history. Former German Finance Minister Oskar Lafontaine called his own brainchild a "catastrophe". read more
A University of Wyoming student targeted by an anonymous Facebook posting that included a threat of sexual violence had posted the item herself, police said.The university in Laramie, Wyoming announced on Tuesday that campus police cited Meg Lanker-Simons for misdemeanor interference with a police investigation by giving false statements.The posting that threatened Lanker-Simons occurred on a Facebook forum for UW students, leading to an outcry and an investigation by UW police because it was directed at a student.
Police in Georgia said two men accused of trying to spy on women in a movie theater restroom were busted when they fell through the ceiling.
Bankers who behave recklessly would be jailed under a new law being considered by MPs and peers on the banking commission, whose final report is due next month.Several members of the commission, which was set up by George Osborne after the scandal over the London Interbank Offered Rate, argue for a new law which would hold bankers personally liable for catastrophic losses. read more
The former British government drug czar, David Nutt, said the 2008 financial crisis was caused by too many bankers taking cocaine. "Bankers use cocaine and got us into this terrible mess," he told the Sunday Times. The drug made them overconfident and led to them taking more risks, he said. Nutt, a professor of neuropsychopharmocology at Imperial College, said the drug is well-suited for banking's "culture of excitement and drive and more and more and more. It is a 'more' drug."