Greek Hopes Drive Dow Near 13K, Nasdaq Takes a Breather

Friday, February 17, 2012 FEATURED NEWS Greek Hopes Drive Dow Near 13K, Nasdaq Takes a Breather Edging closer to the 13000 mark, the Dow finished the week with solid gains on Friday as Wall Street bets Greece will finally receive its long-awaited bailout, but the Nasdaq Composite failed to join the party. Linsanity Validates Cablevision's MSG Spinoff Strategy Macy's to Hire 4,000 for 'High-Paying' Jobs in 2012 An IPO Fit for a King Kong Done Deal: Congress Passes Payroll Tax-Cut Extension latest video Zero to 62 in 2.9 Seconds Robb Report Senior VP David Arnold weighs in on the 2012 Car of the Year, the Lamborghini Aventador LP 700-4. Will SWIFT Cut Off Iran? Foundation for Defense of Democracies VP of Research Jonathan Schanzer argues Iran could be deprived of millions if it's ejected by SWIFT. Banks Lobby for Extended Protection for $1T in Business Deposits FBN's Peter Barnes on community banks lobbying Congress to extend a program that provides federal guarantees for more than $1 trillion in larger bank accounts. latest blogs Stossel:Riots in America? Fox Business Newsletters Just one click to sign up! Fox Business Breaking News Alerts Get alerted the moment major business or econmic news breaks! View All Newsletters>> Manage Subscriptions | Unsubscribe | Unsubscribe to All | Privacy Policy ©2012 FOX News Network, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. All market data delayed 20 minutes.

Moneybox: Krugman vs. Brooks

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Moneybox Krugman vs. Brooks The Times' columnists are brawling about Charles Murray's new book. They are both wrong. By Matthew Yglesias Posted Friday, Feb 17, 2012, at 09:16 PM ET Paul Krugman and David Brooks are titans of the columnist scene, the best and most influential pundits the left and right have to offer. They're also co-workers at the New York Times, an institution that seems to prohibit its op-ed writers from directly engaging with one another. The result can be amusing. On Jan. 31, for example, Brooks hailed Charles Murray's Coming Apart: The State of White America, 1960-2010 as almost certainly the most important book of the year. On Feb. 9, Krugman, without mentioning Brooks by name, denounced the book as "the heart of the conservative pushback" against Occupy Wall Street's focus on income inequality. The real source of working-class woes, according to Krugman, are not the personal virtues cited by Brooks and Murray, but simple economic decline. Things reached the point of true absurdity this week when Brooks wrote a column about "The Materialist Fallacy" adhered to by unnamed "liberal economists" who've created a situation in which "the public debate is dominated by people who stopped thinking in 1975." It's too bad Brooks and Krugman can't—or won't—engage directly, because if they did, they might see that they're both making good points about each other's wrongness—and that there's little reason to give credence to either the liberal or the conservative narrative of decline. Let's start with a good point from Brooks, who rightly says "I don't care how many factory jobs have been lost ... To continue reading, click here. Join the Fray: our reader discussion forum What did you think of this article? POST A MESSAGE | READ MESSAGES Also In Slate Is Sloth Meat Really Tender and Delicious? More Liberals Are Homeschooling Their Kids. Big Mistake. Have French Parents Forgotten How To Discipline Their Children?	Advertisement
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Cheat Sheet - OK, OK, Buzz Bissinger Has Linsanity

Today: Feds Arrest Man in Suicide-Bomb Plot, Congress Passes Payroll-Tax Cut, Syrian Violence Worse After U.N. Vote February 17, 2012 CONVERTED 1. OK, OK, So Jeremy Lin's On Fire The Knicks phenom is even making a believer of professional curmudgeon Buzz Bissinger. But come on, what's he really accomplished? Read it at The Daily Beast SNARED 2. Feds Arrest Man in Suicide-Bomb Plot The FBI and Capitol Police announced the arrest Friday of a man who was allegedly planning a suicide bombing on Capitol Hill. The arrest was "the culmination of a lengthy and extensive operation during which the individual was closely and carefully monitored," the Capitol Police said in a press release, but "at no time was the public or congressional community in any way in danger." The investigation, which reportedly included FBI agents who posed as al Qaeda operatives, ended when the suspect was snagged near the Labor Department with what officials say was a vest packed with faux explosives. Read it at The Washington Post THEY DID IT 3. Congress Passes Payroll-Tax Cut Just in time for the weekend, Congress can finally take a load off. The payroll-tax-cut extension was approved by the House and Senate on Friday, sending the $150 billion measure to President Obama, who is planning to sign off on it today. In addition to cutting taxes for workers, the agreement will extend unemployment benefits and avoid a cut in doctors' Medicare reimbursements through the end of the year. Even House Speaker John Boehner is relieved to have washed his hands clean of the debacle. "I support this measure and thank Chairman Camp and our conferees for all their efforts to resolve this issue in a constructive fashion," he said in a statement after the House passed the bill. Read it at The Washington Post ESCALATION 4. Syrian Violence Worse After U.N. Vote Violence has only escalated in Syria following the U.N. vote yesterday to back a plan calling for President Assad's resignation. One opposition group told the BBC that shelling in Homs was the heaviest it's been since troops stepped up their crack down nearly two weeks ago in attempt to break up the city's rebel-backed Free Syrian Army. Rebels have also reported bombardment in Damascus and Deraa. Of the 137 member nations that participated in yesterday's U.N. vote, Russia and China were among those that voted against the resolution, which called for Assad to hand over power to his deputy. The two countries had also vetoed a similar resolution two weeks ago. A senior Chinese envoy is scheduled to meet with President Assad, though the date of their meeting is not yet known. Read it at BBC CHA-CHING 5. Obama Raises $29M in January He's doing it without the help of his super PAC, so why not just get rid of it? President Obama raised $29.1 million for his campaign in January, putting him ahead of the pace that he set at the end of last year. The campaign announced the haul via Twitter on Friday morning, claiming that 98 percent of the donations were $250 or less. Obama has raised about $250 million for the 2012 election so far, and he averaged $23 million a month in the last quarter of 2011. All that money came before Obama announced this month that he would accept the support of shadowy super PACs that allow unlimited donations—do you really need to embrace that, Mr. President? Read it at Associated Press ANOTHER LOSS? Romney's Maine Victory at Risk Delayed county's votes could change the results. DISPATCHES Shadid's Book To Be Released Early New York Times reporter died Thursday in Syria. SCARY Avalanche Buries Dutch Prince In critical condition. NEW JERSEY Christie to Veto Gay Marriage Bill After it passed both houses of legislature. MAMA'S BOY Report: Colbert Stops Show for Mom The Colbert Report stopped production this week. GET The Cheat Sheet A speedy, smart summary of news and must-reads from across the Web. You'll love the featured original stories on politics, entertainment, and more from The Daily Beast's diverse group of contributors. GET The Yes List Weekly cultural recommendations from The Daily Beast. What's Really Causing Tourette's Symptoms at Le Roy High School? by Nancy Hass Contraception Wars and the Abortion Debate by Beast TV Oscar Predictions Gone Wild: Win Your Academy Awards Pool by Ramin Setoodeh, Peter Travers

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