Pokerstars, an online gambling site, says that it has reached a deal with the U.S. Department of Justice in which it has agreed pay the government $547 million over three years, part of which will be used to reimburse customers of the site Full Tilt Poker.
The London 2012 Games have been touted as the first Olympics to live fully in the age of social media. After all, the organization's Twitter feed has nearly 1.4 million followers, as it lists on its special portal for Facebook and other social sites. But a rash of scandals and news related to Twitter has put a new mark on the face of these games. And, as they say, it ain't pretty.
In December, Congress is poised for another showdown on the deficit and taxes. If Congress doesn't act, 2013 will mark the end to Bush-era tax cuts that have been in place for a dozen years, and the beginning of automatic cuts to domestic and defense programs that would total $1.2 trillion over 10 years. The Congressional Budget Office says the combination of higher taxes and deep spending cuts could create a 4 percent reduction in economic output, a number big enough to throw the country into another recession.