When the Fed released its "trove" of materials confirming that the Fed indeed knew that the Barclays was manipulating its Libor submissions (amusingly explained by Ben Bernanke before Senate today that "the employee had no idea what Libor is in that case"), few were surprised, but more were confused why the congressional inquiry focused solely on the Fed's interactions with British Barclays, instead of focusing on the three domestic banks that were part of the BBA's USD Libor fixing committee.Sure enough, the

For our weekly Facebook Caption Contest, we posted this image of former President Bill Clinton and current President Barack Obama:

Here are some of the responses we got on Facebook:

For a second day in a row, the DISCLOSE Act was shot down in the Senate, 53-45. This following yesterday's vote, 51-44, with all 43 Senate Republicans unanimously voting against the bill.

Today's world news round-up. An independent breakdown of notable global developments in a news update.

Foreign Policy - The 2012 Failed States Index

Anne-Marie Slaughter, author of recent cover article in The Atlantic, "Why Women Still Can't Have it All", has landed a book deal, according to the

The New York Times recently made a less than half-hearted attempt to summarize the similarities between President Barack Obama and presumptive Republican Party nominee, Mitt Romney. As New York Magazine reports, the Times wasn't able to do much better than: They both like Star Trek, Modern Family, and Chicken.

Even though it was Bastille Day in Burlington, VT on Monday, there were no mobs storming the prisons that symbolize state injustice, instead the streets instead were filled with Woody Guthrie songs and protests against a bank that symbolizes state injustice.