10:03pm

Tue June 12, 2012
The Record

Clear Channel Will Be The First To Pay Royalties For Music On Its Air

Originally published on Tue September 18, 2012 5:40 pm

Tim McGraw (left) and Scott Borchetta, CEO of Big Machine Label Group, at a press conference in Nashville last month announcing McGraw's signing to the label.
Royce DeGrie WireImage

8:03pm

Tue June 12, 2012
Sweetness And Light

The Language of Baseball: In Is Out And Foul Is Fair

Originally published on Wed June 13, 2012 6:14 am

Pittsburgh Pirates fans reach for a foul ball hit into the stands by Mike Moustakas of the Kansas City Royals in the seventh inning of a game in Pittsburgh.
Keith Srakocic AP

Baseball historians continue to poke around in the 19th century to better explain how the game was originated and developed, but I've always wondered if one of the prime movers wasn't a student of Shakespeare.

While I certainly don't know the terminology of all ball games, the popular ones I'm aware of — everything from basketball and football to golf and tennis — all use some variations of the words in and out when determining whether the ball is playable.

Only baseball is different.

"Fair is foul and foul is fair; Hover through the fog and filthy air."

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5:41pm

Tue June 12, 2012
Election 2012

As GOP Cashes In, Democrats Search For Billionaires

Originally published on Tue June 12, 2012 6:02 pm

President Obama at a Democratic Party election fundraiser in Chicago on June 1.
Jason Reed Reuters/Landov

The big story of this year's election campaign is big money. Since the Supreme Court, through its Citizens United ruling, has made it easier for corporations, unions and rich individuals to raise and spend unlimited amounts of money, Republicans have seized the advantage.

Right now, an analysis by NPR finds that Republican allied groups are outspending their Democratic counterparts by 8 to 1.

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5:15pm

Tue June 12, 2012
The Two-Way

From Our Readers: Less Hedginess, More Neology

Our use of the term "hedginess," coined by finance criminologist Bill Black, inspired commenter "Tim Myers" to engage in some neology of his own in order to prove his point:

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5:05pm

Tue June 12, 2012
The Two-Way

Dimon Will Tell Congress JPMorgan 'Let People Down' With Trading Loss

Originally published on Wed June 13, 2012 8:00 am

JPMorgan Chase Chief Executive Officer Jamie Dimon.
Mario Tama Getty Images

"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."

That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.

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4:50pm

Tue June 12, 2012
Latin America

Venezuela's Chavez Aims To Beat Cancer, Election Foe

Originally published on Thu June 14, 2012 8:38 am

Venezuela's President Hugo Chavez arrives atop a truck at the elections office in Caracas on Monday. Chavez addressed thousands of supporters as he formalized his re-election bid. Chavez's younger daughter Rosines is by his side, and on his right is his brother Adan.
Ariana Cubillos AP

The crowds came out by the thousands in Venezuela on Monday, flooding the streets of Caracas in red T-shirts just as the nation's populist government had promised.

Hugo Chavez — the country's 57-year-old, bigger-than-life leader — then took the stage. He had arrived in an open truck, minutes after registering as a candidate for the Oct. 7 election.

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4:42pm

Tue June 12, 2012
Your Money

Credit Card Debt Cut: The Reason May Surprise You

Originally published on Tue June 12, 2012 5:17 pm

iStockphoto.com

A Federal Reserve study showing that Americans lost wealth in the Great Recession turned up another, perhaps more surprising, result: Credit card debt fell sharply.

"The percentage of families using credit cards for borrowing dropped over the period; the median balance on their accounts fell 16.1 percent" between 2007 and 2010, the report concluded.

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3:56pm

Tue June 12, 2012
The Two-Way

Feds Say Mexican Cartel Used American Quarter Horse Racing To Launder Money

Originally published on Tue June 12, 2012 4:06 pm

Mr. Piloto, which federal authorities are trying confiscate, is offered on a website for sire services.
Southwest Stallion Station

Federal authorities arrested seven people, today, in connection with what authorities say was a multi-million dollar money laundering operation run by Mexican drug cartel Los Zetas.

The scheme allegedly used the millions earned through the illicit drug trade to purchase, train, breed and race American quarter horses in the United States. The Department of Justice said 14 had been indicted; among them is Zetas leader Miguel Ángel Treviño Morales and his brothers Oscar Omar Treviño Morales and José Treviño-Morales.

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3:55pm

Tue June 12, 2012
Planet Money

Remembering Elinor Ostrom, Nobel Laureate

Originally published on Wed June 13, 2012 9:08 am

Elinor Ostrom in January 2011.
Raveendran AFP/Getty Images

Elinor Ostrom, the only woman ever to win an economics Nobel, died today at age 78.

She was famous for challenging an idea known as the tragedy of the commons — the theory that, in the absence of government intervention, people will inevitably overuse a shared resource.

So, for example, if a village shares a pasture, it's in the individual interest of each farmer to graze his cattle as much as possible on the pasture even though, in the long run, overgrazing may ruin the pasture for everyone.

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3:55pm

Tue June 12, 2012
Politics

Where Are The Democratic Billionaires?

Democrats knew that they would be disadvantaged under the new campaign finance rules created by the Supreme Court. But the disparity between the amount of money Republicans can raise in unlimited anonymous donations and what the Democrats have been able to raise is huge.

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