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6:07 pm
Tue June 12, 2012

Credit Card Debt Cut: The Reason May Surprise You

iStockphoto.com

Originally published on Tue June 12, 2012 6:17 pm

A Federal Reserve study showing that Americans lost wealth in the Great Recession turned up another, perhaps more surprising, result: Credit card debt fell sharply.

"The percentage of families using credit cards for borrowing dropped over the period; the median balance on their accounts fell 16.1 percent" between 2007 and 2010, the report concluded.

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The Two-Way
6:05 pm
Tue June 12, 2012

Dimon Will Tell Congress JPMorgan 'Let People Down' With Trading Loss

JPMorgan Chase Chief Executive Officer Jamie Dimon.
Mario Tama Getty Images

Originally published on Wed June 13, 2012 9:00 am

"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."

That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.

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Latin America
5:50 pm
Tue June 12, 2012

Venezuela's Chavez Aims To Beat Cancer, Election Foe

Venezuela's President Hugo Chavez arrives atop a truck at the elections office in Caracas on Monday. Chavez addressed thousands of supporters as he formalized his re-election bid. Chavez's younger daughter Rosines is by his side, and on his right is his brother Adan.
Ariana Cubillos AP

Originally published on Thu June 14, 2012 9:38 am

The crowds came out by the thousands in Venezuela on Monday, flooding the streets of Caracas in red T-shirts just as the nation's populist government had promised.

Hugo Chavez — the country's 57-year-old, bigger-than-life leader — then took the stage. He had arrived in an open truck, minutes after registering as a candidate for the Oct. 7 election.

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The Two-Way
5:06 pm
Tue June 12, 2012

Feds Say Mexican Cartel Used American Quarter Horse Racing To Launder Money

Mr. Piloto, which federal authorities are trying confiscate, is offered on a website for sire services.
Southwest Stallion Station

Federal authorities arrested seven people, today, in connection with what authorities say was a multi-million dollar money laundering operation run by Mexican drug cartel Los Zetas.

The scheme allegedly used the millions earned through the illicit drug trade to purchase, train, breed and race American quarter horses in the United States. The Department of Justice said 14 had been indicted; among them is Zetas leader Miguel Ángel Treviño Morales and his brothers Oscar Omar Treviño Morales and José Treviño-Morales.

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Middle East
4:55 pm
Tue June 12, 2012

At Syrian Military Hospital, The Casualties Mount

Members of the U.N. observers mission in Syria visit wounded soldiers and policemen at Tishreen Military Hospital in Damascus on May 23. Casualties among Syrian government forces are rising sharply.
SANA /Handout EPA /Landov

Originally published on Tue June 12, 2012 8:02 pm

Syrian activists have posted thousands of videos of civilians killed and wounded in the 15-month-old conflict. But there have been many casualties on the government side as well, and they are on display at a military hospital in the capital, Damascus.

For Abdul Kareem Mustapha, a 51-year-old colonel in the Syrian army, the war came for him at 8:15 a.m. on his way to his military post.

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