As the financial crisis began to unfold in 2007, the New York Federal Reserve learned that some banks might have intentionally underestimated the rates they expected to pay for loans from other banks.
Documents the New York Fed released Friday, in response to a request from Congress, show that the banking regulator began to be concerned about the accuracy of LIBOR — or the London Interbank Offered Rate — late in 2007.
The fate of Texas' new voter ID law is now up to a three-judge federal panel in Washington, D.C.
Lawyers for Texas and the Justice Department wrapped up five days of arguments in U.S. District Court Friday, with each side accusing the other of using deeply "flawed" data to show whether minorities would be unfairly hurt by a photo ID requirement.
Rabbi Pinchas Goldschmidt, right, president of the Conference of European Rabbis, gestures next to Rabbi Avichai Appel, left, a board member of the Orthodox Rabbinical Conference of Germany, during a news conference in Berlin, Germany on Thursday.
In Germany, the past few weeks have been marked by an intense debate over religious liberties.
Today, German Chancellor Angela Merkel jumped into the fray saying her administration would work to protect religious circumcision.
"It is absolutely clear to the federal government that we want Jewish, we want Muslim religious life in Germany. Circumcisions carried out in a responsible way must not be subject to prosecution in this country," Merkel's spokesman Steffen Seibert told reporters.
Support group members Pamela Travis (from left), Dominique Martin, Yovanda Dixon, Shanna Chaney and Ramona Shewl hold a meeting as part of the Family Independence Initiative. The Oakland nonprofit encourages low-income families to form small groups to help each other get ahead.
Militiamen from the Ansar Dine Islamic group, an al-Qaida affiliate, ride on a vehicle in northeastern Mali in June. Mali is one of the places where al-Qaida-linked groups are trying to take over territory and win over local residents to their cause.
Members of Ansar al-Sharia, another al-Qaida-affiliated group, man a checkpoint at the southern Yemeni town of Jaar in April. Government troops recently retook areas in the country's restive south from militant control after a two-month offensive.
Al-Qaida has been subtly testing a new strategy. In the past couple of years, the group's affiliates have been trying their hand at governing — actually taking over territory and then trying to win over citizens who live there. It happened with various degrees of success in Somalia and Yemen, and recently in the northern deserts of Mali.
In this Aug. 2, 2011 file photo, the bottom of the pond at the Gene Howe Wildlife Management Area is nearly dried up in Amarillo, Texas. A devastating drought across Texas turned rivers into sand, creeks into mud, springs into mere trickles and lakes into large puddles.