On Wednesday, lawmakers in Athens, Greece approved an austerity package for the country, bowing to the demands of international lenders. The 155-138 vote passed as riots and protests continued in the nation’s capital.
According to the results of the Harris Poll, President Barack Obama has lost points not only in his overall rating, but also in areas including the handling of jobs, education and healthcare.
On Thursday, Governor Jerry Brown of California signed ABX1 28, a bill that allows California to collect sales tax from out-of-state, web-based retailers.
President Barack Obama had some harsh words for legislators in a recent press conference centering on the debt issue, however, GOP lawmakers were not swayed to adopt tax hikes.
In India, officials are concerned about a disturbing trend: parents forcing their daughters to become sons through sex change operations. “Madhya Pradesh state government is investigating claims that up to 300 girls were surgically turned into boys in one city,” read an article on The Telegraph’s website.
Firefighters in New Mexico recently battled wildfires that threatened a government nuclear facility in Los Alamos.
Representative Michele Bachmann (R-Minn.) said those warning of economic disaster if the debt ceiling is not raised are using “scare tactics.”
Goldman Sachs is cutting jobs in the United States so it can expand in Singapore. The company, which received $10 billion in preferred stock purchases from the Federal government under the Troubled Asset Relief Program, alerted Washington to the move first, in order to avoid controversy.
Bank of America Corp. may soon agree to pay an $8.5 billion settlement to investors who lost money in the housing collapse, which would be the largest such settlement by a financial-services firm to date. “A settlement would end a nine-month fight with a group of 22 investors who hold mortgage-backed securities originally valued at $105 billion, including the giant money manager BlackRock Inc., the insurer MetLife Inc. and the Federal Reserve Bank of New York,” The Wall Street Journal reported.
On Wednesday, President Barack Obama gave his first press conference since March, speaking from the East Room of the White House. Lasting just over an hour, the press conference’s question-and-answer session covered a wide range of topics, but seemed to focus on criticizing Congress. Speaking initially about the economy, the President discussed currently stalled bills that he believes Congress should pass, including bills on patent reform, funding for construction jobs, trade agreement reform and extending payroll tax cuts.