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The Two-Way
4:59 pm
Wed December 18, 2013

Senate Approves Budget Deal, Reducing Chances Of A Shutdown

Senate Minority Leader Mitch McConnell (R-Ky.), walks to the chamber for the final votes on the bipartisan budget deal on Wednesday.
J. Scott Applewhite AP

Originally published on Thu December 19, 2013 5:24 pm

The Senate passed a two-year bipartisan budget deal aimed at easing automatic spending cuts and avoiding a government shutdown, following a House vote on the measure last week.

The vote by a simple majority was absent the partisan brinksmanship that has become a hallmark of budget deals in recent memory.

The appropriations committees in both chambers must now set in stone a $1.012 trillion fiscal 2014 spending bill before current spending authority expires. Congress also faces a spring 2014 to raise the debt ceiling — another potential partisan standoff.

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Planet Money
4:49 pm
Wed December 18, 2013

A Tiny Taper, In 2 Graphs

Tapir
Flickr

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.

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Animals
4:46 pm
Wed December 18, 2013

Study: Cats May Have First Cuddled Up With People 5,300 Years Ago

Originally published on Wed December 18, 2013 5:34 pm

Transcript

AUDIE CORNISH, HOST:

The human love affair with cats has a long history. But just how long has always been a mystery. That's because little was known about how and when cats were domesticated. Now, scientists say they've uncovered new clues in a trail of evidence going back some 5,300 years in a small village in China. Joining us is Fiona Marshall, an archaeologist at Washington University in St. Louis, and co-author of a study on cat domestication. Welcome to the program.

FIONA MARSHALL: Thank you very much. Delighted to talk about cats.

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The Two-Way
4:46 pm
Wed December 18, 2013

Top SAC Capital Manager Guilty Of Insider Trading

Michael Steinberg (left) departs federal court in Manhattan on Wednesday after being found guilty on charges that he traded on insider information.
Lucas Jackson Reuters/Landov

Originally published on Wed December 18, 2013 6:42 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.

Reuters writes:

"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."

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Politics
4:46 pm
Wed December 18, 2013

Push For Release Of CIA Interrogation Report Continues

Mark Udall of Colorado is one of the Democrats on the Senate Intelligence Committee pressing for the so-called torture report to be declassified.
Susan Walsh AP

Originally published on Wed December 18, 2013 6:31 pm

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.

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