Today's News Tips: July 13, 2012

Today’s News Tips for your lunch break. Your Independent Breakdown of Today’s News.

POLITICO – Lance Armstrong Getting Help from Capitol Hill
The 7-time Tour de France champion has passed over 500 drug tests and could “be in the unenviable position of carrying the burden to rebut testimony from witnesses he cannot even cross examine.” – Rep. Sensenbrenner

WSJ – Fed Knew About LIBOR Problems in 2007, Reported in 2008
It seems that the Fed took at least 6 months to report LIBOR problems after discovering them. Keep up with the investigations on WSJ.

POLITICO – 2008 Geithner Memo Found Relaying Concerns on LIBOR
The Treasury Secretary had written a two page memo to the head of the Bank of England while at the NY Fed expressing concern over rate fixing and how to remedy the problem.

Salon – How Voter ID Laws Swing PA to Romney
The new law was created while searching for a problem that does not exist. The disenfranchisement may be enough to push the state red in November for the first time in 20 years.

POLITICO – Santorum to Campaign for Romney
The conservative former presidential hopeful will start hitting the trail for Romney beginning this weekend in PA.

Slate – Northeast High Speed Rail Could Be Completed at 1/10 Cost
Critics are citing high costs as the main reason not to invest in the infrastructure project, but at 1/10 of the price it’s difficult to justify why the project wouldn’t be completed.

AP – Rolling Stones Celebrate 50 Year Anniversary of 1st Gig
The rock band is touring a photo exhibit today in London while celebrating 50 years of performing.

Reuters – JPMorgan Chase Lost $5.8B on Bad Credit Bets, Tried to Hide it
The bank found a way to earn $5B in profits, but the loss and nondisclosure reflect very poorly on the bank that remained profitable during the financial crisis.

Slate – Why Romney Has Been Hesitant to Release Tax Records
The GOP candidate is unlikely to be acting illegally, but his taxes would likely show a major discrepancy between the manner in which the rich and poor are taxed.

POLITICO – Bush 41 “Who the hell is Grover Norquist, Anyway?”
Said when asked about conservatives being pushed to sign his anti-tax pledge the former President. Bush 41 also pointed to changing circumstances and the inability to be wedded to a formula.