When people talk about the Volcker Rule, they often mention JPMorgan Chase, the giant bank where a trader recently made a bad bet that lost $6 billion. The Volcker Rule is supposed to put an end to that sort of thing, by prohibiting banks from trading with their own money.
But some banks that are very, very different from JPMorgan Chase are struggling with an obscure provision in the rule. Specifically, footnote 1,861, which bars banks from investing in something called trust-preferred securities — a rather obscure investment favored by lots of small, community banks invest
Ross Miner is among those competing for a spot on the U.S. Men's figure skating team Friday night in Boston. He is a hometown favorite who is bringing some local flavor to his performance — he's going to tell the story of last year's Boston Marathon bombing.
Alicia Soderberg studies the death of stars. Often, these final moments come as violent explosions known as supernovae. They're spectacular events, but catching one as it unfolds can be tricky.
"You have to be in the right place at the right time, and often we're not," says the professor in Harvard's astronomy department. "So all you can do is do a stellar autopsy and go back and try to pick up the pieces and try to figure out what happened."
North Korean leader Kim Jong Un shocked the world last month when he accused his uncle and mentor of treason and had Jang Song Thaek executed.
The consequences of that purge are reaching beyond North Korea's border. Jang had been in charge of trade with China, and his death has had a chilling effect on ties with North Korea's neighbor and longtime ally.