As the financial crisis began to unfold in 2007, the New York Federal Reserve learned that some banks might have intentionally underestimated the rates they expected to pay for loans from other banks.
Documents the New York Fed released Friday, in response to a request from Congress, show that the banking regulator began to be concerned about the accuracy of LIBOR — or the London Interbank Offered Rate — late in 2007.
And now to our weekly political roundtable. David Brooks is away this week. I'm joined instead by syndicated columnist Mona Charen, who worked in the Reagan White House and as a speech writer for Jack Kemp. Mona Charen, welcome to the program.
MONA CHAREN: Thanks for having me.
BLOCK: And E.J. Dionne of The Washington Post and Brookings Institution is back with us. Hi, E.J.
A recent lineup shuffle hasn't stopped Lost on Iddings from keeping their signature groove going. With a mutual love for the Grateful Dead, the members incorporate rock and roll, reggae, and jazz into a sound that goes with the flow. The band visited the WYSO studios for a live performance and chatted with Kaleidoscope host Juliet Fromholt.
Lost on Iddings will perform at the Miami Valley Music Festival, August 10th and 11th at the Troy Eagle's Campground.
This weekend marks the grand opening of the Black Box Improv Theater in Downtown Dayton. In her first live interview on Kaleidoscope, GladGirl Shelly Hulce talks to Justin Howard about what a black box theater is and the types of improv that will be performed in the space.
The fate of Texas' new voter ID law is now up to a three-judge federal panel in Washington, D.C.
Lawyers for Texas and the Justice Department wrapped up five days of arguments in U.S. District Court Friday, with each side accusing the other of using deeply "flawed" data to show whether minorities would be unfairly hurt by a photo ID requirement.
David Rowell is an editor with The Washington Post. His first novel, The Train of Small Mercies, is just out in paperback.
When I was growing up in North Carolina, my family went to the same beach every year; it had the sand, the water and pretty much nothing else. Mostly that was OK, but the idea of a boardwalk, which I caught glimpses of on TV or in movies, seemed wondrous to me — like a carnival rolled out from a wooden carpet.