Originally published on Fri June 28, 2013 10:50 am
A Vatican official already under investigation for money laundering was arrested after police say they caught him and two other men plotting a scheme that would bring in 20 million euros (about $26 million) in cash into Italy from Switzerland on a jet.
Prosecutors say Monsignor Nunzio Scarano said the money belonged to some friends, according to The Associated Press. The wire service talked to Nunzio's attorney Silverio Sica and reports:
The interest rate on government-backed student loans is going to jump from 3.4 percent to 6.8 percent Monday.
Republicans, Democrats and the Obama administration could not agree on a plan to keep it from happening. Lawmakers say a deal is still possible after the July 4 recess. But if they don't agree on a plan soon, 7 million students expected to take out new Stafford loans could be stuck with a much bigger bill when they start paying the money back.
It has been one of the more heated debates in Washington this year.
Developers in Phoenix are scrambling to keep up with another frenzied demand for housing. During the Great Recession, homebuilders in the suburbs abandoned neighborhoods that were only half-built. These so-called zombie subdivisions left a ring of unfinished construction around the city.