The country's top admiral says his forces can easily close the strategic Strait of Hormuz, where up to 20 percent of the world's oil flows. In response, the U.S. warns that any disruption at the strait "will not be tolerated." And a Saudi official says Gulf Arab nations are ready to offset any loss of Iranian crude.
It's been more than three years since the government bailed out mortgage giants Fannie Mae and Freddie Mac. Gretchen Morgenson, of The New York Times, has co-authored a book about Fannie and Freddie called Reckless Endangerment. Morgenson talks to Linda Wertheimer about the taxpayer-owned entities.
With many boomtime developments now just dusty wastelands, Sun Belt suburbs like those outside Phoenix are shifting gears. Some planners argue for a radical option called "smart decline" — letting empty lots go back to nature and even, in some cases, tearing down infrastructure.
In just a few months, the movement started a national conversation about inequality. With the end of many encampments, the movement is entering a new phase. Some say this dynamism will ensure success. Others think the movement will fail without political partners and compromise.
In Las Vegas, the housing market continued to struggle this year, but investors from Asia see opportunity there. They're taking advantage of housing prices that have plummeted in recent years, buying foreclosed homes for less than it would cost to build them.
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