National / International News

VIDEO: Video shows gunmen fleeing attack

BBC - Wed, 2015-01-07 04:16
Richard Galpin reports on the shooting at the office of the French satirical magazine, Charlie Hebdo, in Paris.

CES: Super-fast phone charger demoed

BBC - Wed, 2015-01-07 04:13
The BBC is given an exclusive demo of tech that may revolutionise phone charging, at this year's CES show.

Private medical school £36,000 fees

BBC - Wed, 2015-01-07 04:09
The UK's first private medical school opens this term with students paying fees four times more than in public universities.

VIDEO: What is German Pegida movement?

BBC - Wed, 2015-01-07 04:00
The BBC explains the origins of the "anti-Islamisation" group Pegida, which has been holding weekly rallies drawing thousands in a number of German cities.

Watkins' ex 'warned of baby abuse'

BBC - Wed, 2015-01-07 04:00
A former lover of paedophile Lostprophets singer Ian Watkins took a mother later convicted alongside him to police and warned them the singer would abuse her child, a court hears.

Day in pictures: 7 January 2015

BBC - Wed, 2015-01-07 03:55
Images from around the world: 7 January

VIDEO: Monaco royals present twins

BBC - Wed, 2015-01-07 03:52
Monaco's royal twins, including the heir to the throne, have appeared in public for the first time to a cheering crowd.

VIDEO: Paris gunfire caught on video

BBC - Wed, 2015-01-07 03:51
A witness to the shootings at the Charlie Hebdo offices in Paris filmed the scene as the sound of gunshots were heard.

Galaxy coach confirms Gerrard move

BBC - Wed, 2015-01-07 03:44
Liverpool captain Steven Gerrard will join the Los Angeles Galaxy in July, according to the club's coach.

VIDEO: 'Why I started to self-harm aged 12'

BBC - Wed, 2015-01-07 03:27
'Why I started to self harm aged 12'

Stokes stars with 77 on Big Bash bow

BBC - Wed, 2015-01-07 03:27
England all-rounder Ben Stokes scores 77 off just 37 balls on his Australia Big Bash debut for Melbourne Renegades.

VIDEO: UK leader condemns France attack

BBC - Wed, 2015-01-07 03:25
UK Prime Minister David Cameron condemns the fatal attack on staff at French satirical magazine Charlie Hebdo.

The Interview to receive UK release

BBC - Wed, 2015-01-07 03:10
Controversial comedy The Interview is to have "a wide release" in the UK and Ireland, Sony Pictures confirms.

Woman set ablaze at police station

BBC - Wed, 2015-01-07 03:02
A police office is closed to the public after a woman apparently sets herself on fire in the reception area.

The age of the community banker

Marketplace - American Public Media - Wed, 2015-01-07 03:00

Right now there are three economists and two lawyers on the Federal Reserve Board of Governors, and two empty seats. President Barack Obama has faced pressure from politicians to mix it up; add someone with experience in the small, local banks. 

In appointing Allan Landon, former CEO of the Bank of Hawaii, the President has done so—Although with $14.5 billion in assets, the Bank of Hawaii is hardly tiny.

“It’s helpful to have somebody who has experience as an on the ground banker,” says Elizabeth Duke, the last Fed Governor with community banking experience. Duke served from 2008 to 2013.   

The Fed has more regulatory powers than ever before, and small banks experience regulation differently than large banks.

“The fewer people you have, the harder it is,” she says. “If you go way back to the last crisis—savings and loan crisis—there were 63 implementing regulations and at the time my bank only had 62 employees.”  

Orienting regulations to make them easier to follow for small banks is important. “Even on monetary policy it’s good to have a ground level view of how things are going,” she says. “Monetary policy is implemented through the banking system, through lending, and having the experience dealing with small businesses helps to understand how will this work as it moves through the banking system.”

But the idea of the community banker on the Fed board has become somewhat politicized in recent years. For some conservatives, a local banker would be a bulwark against onerous legislation. For some liberals, a community banker would be a protector of Main Street against the interests of Wall Street.

Lawmakers including Democratic Senator Heidi Heitkamp and Republican Senator David Vitter want to require the President to appoint at least one community banker to the Fed Board.  Former Fed Governor Elizabeth Duke, as well as current Fed Chair Janet Yellen, oppose this.

“There are only seven seats and a lot of different profiles that need to be filled,” says Duke.

The Federal Reserve has long been fiercely protective of its independence.

Frederic Mishkin served on the Federal Reserve Board of Governors from 2006 to 2008. He says, “When we’ve had community bankers on the Federal Reserve Board, they have played a positive role. But we should not have a litmus test saying because a person’s a community banker, they’re qualified, or because a person’s an economist, that person is qualified.”

It’s going to be a big year for anyone sitting on the Fed Board—The Fed is expected to raise interest rates for the first time in nine years.

PODCAST: Expensive scallops

Marketplace - American Public Media - Wed, 2015-01-07 03:00

First up on today's show, we'll talk about President Barack Obama's nomination of Allan Landon, a community banker, to the Fed. Plus, the CFPB is going after payday loans. We look at why this industry been largely unregulated so far, and if regulations are doable, what might a regulated payday loan market look like. And turkey season is over, so it must be scallop season. But, this year, the people that love Maine scallops will pay for their tastes. 

VIDEO: Communities Committee

BBC - Wed, 2015-01-07 02:59
The Communities and Local Government Committee takes evidence on litter.

Trying to unravel the mystery of autism

BBC - Wed, 2015-01-07 02:39
As a programme to improve awareness and diagnosis of autism is launched, the BBC's Nikki Fox speaks to people with the condition, and to their families.

Deadly gun attack on French magazine

BBC - Wed, 2015-01-07 02:39
Gunmen attack the Paris office of French satirical magazine Charlie Hebdo killing 11 people and wounding 10, French officials say.

Should we be tracking our children?

BBC - Wed, 2015-01-07 02:36
Should we track our children with tech?

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