Europe's Central Bank Maneuvers Crisis Intervention
By: John Ydstie
December 14, 2011
The European Central Bank has ruled out large scale bond purchases to save struggling countries from their mounting debts. But the ECB has said it will extend unlimited credit to European banks. Some observers say these low-interest bank loans could be a back door way to address the debt crisis. National banks would have a new source of cash to buy their home country's sovereign debt.
Seventeen big-budget movies premiered this past summer, and almost all of them cost more than $100 million to make and about that much to promote. While only about 10 of them were solidly profitable, studios are not changing their strategies.
Rudy Kurniawan, once considered one of the world's most formidable wine collectors, was convicted Wednesday of making cheap wine blends in his house and then passing them off as some of the rarest wines in the world, for thousands of dollars each, at auction.
Democrats on the Senate Intelligence Committee are pressing for the release of a so-called torture report on Bush-era interrogation practices. But there are several hurdles to clear before portions of the report might become declassified.
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