In the past five years, the Federal Reserve has created roughly $3 trillion out of thin air.
The Fed uses the money it creates out of thin air to buy bonds. The idea is to drive down interest rates, which encourages people and businesses to borrow and spend money. It's called quantitative easing.
Whether you love buying gifts or dread trips to the mall, good luck avoiding some kind of shopping during the holiday season. But I don't need the excuse of a holiday to get me to the stores. I'm obsessed with shopping.
The question is, am I a shopaholic? The technical term is "compulsive buyer," according to psychologist April Benson.
"Simply put," says Dr. Benson, compulsive buying is "when we spend so much time, energy and/or money shopping ... or even thinking about shopping and buying that it is impairing our life in a significant way."
For more than a year, the Senate Intelligence Committee and the CIA have been engaged in a tug of war over the release of the so-called torture report.
Chairman Dianne Feinstein, a Democrat from California, says the $40 million, 6,000-page report demonstrates that CIA treatment of detainees was all but useless in terms of gathering actionable intelligence.
For its part, the CIA says the classified committee report contains significant errors and that no one at the agency was interviewed by Senate investigators.
Originally published on Wed December 18, 2013 7:42 pm
Michael Steinberg, a top portfolio manager at SAC Capital Advisors, has been found guilty of insider trading — the latest conviction stemming from a years-long federal investigation into the hedge fund's activities.
Steinberg was found guilty on five counts of conspiracy and securities fraud.
"Prosecutors said he traded on confidential information that was passed to him by an employee, who later admitted to swapping illegal tips with friends at other firms."
Originally published on Wed December 18, 2013 7:31 pm
(This post was updated at 6:30 p.m. ET)
A panel looking into U.S. electronic surveillance activities in the wake of the Edward Snowden revelations has recommended removing the NSA's authority to collect and store Americans' telephone data.
The key recommendation was one of dozens that the panel put forward; however, it did not propose a wholesale scaling back of domestic spying by the National Security Agency and other intelligence branches.
Originally published on Wed December 18, 2013 7:12 pm
In a year that featured divisive fights over the budget, health care and presidential nominations, the United States Senate took a break from partisan bickering Tuesday night to get in the Christmas spirit.
The Obama administration's ambassador to the U.N. says this is a pivotal moment for the Central African Republic and time for the international community to take steps to prevent further atrocities there.
Samantha Power, a former journalist and Pulitzer Prize-winning author, is well-known as an advocate for humanitarian intervention. How she and the Obama administration handle the conflict in the CAR is a major test of that.
There are seven shopping days left until Christmas. But there are just five days until another important deadline — the last day to sign up for health insurance under the Affordable Care Act if you want coverage to start January 1.
After a slow start, activity on the federal website HealthCare.gov has been heavy all month. And with the deadline approaching, some people are getting worried that they won't get signed up in time.
And this being the health care law, it's complicated. There is more than one deadline.
Originally published on Wed December 18, 2013 4:56 pm
Secretary of State John Kerry has telephoned a top official in New Delhi to express regret for the strip-search of an Indian diplomat after her arrest last week in New York on charges of visa fraud.
"As a father of two daughters about the same age as [Indian diplomat] Devyani Khobragade, the Secretary empathizes with the sensitivities we are hearing from India about the events that unfolded after Ms. Khobragade's arrest," State Department spokeswoman Marie Harf said in a written statement, relating Kerry's conversation.