Wednesday, May 20 2009

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Wednesday, May 20, 2009

Charge! Credit Card Reform and Consumers

A bill to reform the practices of credit card companies is likely to end up on President Obama's desk before Memorial Day. So what's in this bill, and what does it mean for the average credit card user? To help us understand how this bill will affect consumers, we turn to finance writer Beth Kobliner, author of the book Get a Financial Life: Personal Finance in Your Twenties and Thirties.
"Frankly, a third of people don't carry a balance from month to month. So those people don't care what the interest rate is on their credit card. They're just paying off their bill, using their credit card as a convenience. And those people won't get hurt about it."
—"Get a Financial Life" author Beth Kobliner on credit card reforms

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What Your Credit Card Company Can Do to You

The Senate voted 90 to 5 in favor of putting new restrictions on the credit card industry. In an effort to protect consumers’ rights, the legislation would put an end to some of the practices that have pushed so many Americans into an unprecedented amount of debt. (Today, credit and charge card debt is close to $1 trillion.) For a look at how the new restrictions may affect we got here and what the credit card industry has done to perpetuate this kind of debt The Takeaway is joined by Dan Ariely. He is the James B. Duke Professor of Behavioral Economics at Duke University. His updated and expanded version of Predictably Irrational: The Hidden Forces That Shape Our Decisions is in stores now.

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The Very Model Of A Modern Major General

General Curtis LeMay is one of the nation’s most controversial military figures. He led the firebombing of Japan which killed 100,000 people but he also headed the Berlin airlift. History has yet to decide if LeMay is a hero or villain. Journalist Warren Kozak has attempted to reconcile these two extremes in a new book, LeMay: The Life and Wars of General Curtis LeMay. Warren Kozak joins us in our studio to discuss LeMay’s legacy, and to put it in the context of today’s war on terror.

For Stanley Kubrick's take on General Curtis LeMay, watch the character Buck Turgison from 1964's "Dr. Strangelove" below.

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Pakistan: Life in the Refugee Camps

Secretary of State Hillary Clinton yesterday announced more than $100 million in aid to help with the refugee situation in Pakistan. Some two million people have been displaced by anti-Taliban fighting in Pakistan’s North-West Frontier Province, according to the BBC. The government has encouraged refugees to return to their homes and lifted curfews in order to help them, but continuing artillery fire has kept the refugees pinned down. The Takeaway talks with the BBC’s Owen Bennett-Jones in Pakistan, who has interviewed some of the displaced people in the camps.

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Inside a Pakistani Madrassa

Why is the Taliban resurgent in Pakistan? Some observers point to the influence of the madrassa, or Islamic religious school, as a factor in developing Islamic radicals. Javed Soomro, a senior producer for the BBC's Urdu Service, has heard from people who say a madrassa is simply a religious school and those who see them as incubators for terrorists. He decided to see for himself, so he got permission to spend two weeks at the largest madrassa in Pakistan’s capital, Karachi. He joins The Takeaway with his view from the inside.

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Traffic Jam: How to Reduce Congestion

By 2050, there will be 130 million more people in the country, relying on an increasingly aging and inadequate transportation system. The stimulus money is supposed to help— tens of billions of dollars are slated to revitalize states' infrastructure. But how should that money be spent in order to actually reduce congestion? Joining The Takeaway is Miles O’Brien. He's a correspondent for Blueprint America and has just finished a documentary called Road to the Future, which looks at how Denver, Portland, Ore., and New York City are rethinking transit.

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Why Is It So Hard to Close Guantanamo?

One of President Obama's first acts as president was to order the closing of the famous prison at Guantanamo Bay, Cuba, by the end of the year. But Congress may not make it so easy for him. Senate Democrats said yesterday they would strip $80 million from a war funding bill meant to be used to close the prison, leaving Obama with no money to move forward. Both political parties have demanded a more detailed plan for what would happen to the approximately 240 prisoners held at Guantanamo: nobody wants detainees to end up in their own district. Joining The Takeaway is Vijay Padmanabhan, Professor at Cardozo School of Law and formerly an attorney adviser in the State Department with a responsibility for detainee issues.
"Why are [Guantanamo] detainees so much more dangerous than ordinary criminals in terms of being detained in prison?"
—Former State Department adviser Vijay Padmanabhan on the release of Guantanamo Bay detainees

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Adam! Kris! Squeeee! It's the American Idol Finale.

Adam or Kris? Adam or Kris? That was the question dividing Americans as they chose their American Idol. Adam Lambert, or Glambert as he is known in among fans, is a black nail-polished, guyliner-wearing rocker with a much-rumored-about sexual orientation. His competition? Kris Allen, a sweet crooner from a small town in Arkansas. He's married and an evangelical Christian who plays his own instruments. It's a cultural death match playing out on millions of television sets. Helping us pick sides is Angel Cohn, the senior editor of Television Without Pity.

See the stiff competition for yourself. Here's one of Kris Allen's performances:



And here's Adam Lambert:

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What the Transportation Bill Really Means

Forget the fight over fuel efficiency standards. An even more controversial measure is on the horizon — the transportation reauthorization bill. It only comes up for debate every six years and could transform the way we commute and travel. Here to explain the behemoth transportation bill is Congressman Peter DeFazio, a Democrat from Eugene, Oregon.

For more on the transportation debate taking place across the country, listen to Miles O'Brien's interview, Traffic Jam: How to Reduce Congestion, on The Takeaway. Also, hear the lively debate on the fuel standards, California, Here We Come: New Fuel Standards.
"We’ve really been living off the legacy of the Eisenhower era ... And we haven’t even done a very good job of taking care of that legacy."
—Oregon Congressman Peter DeFazio on transportation reform

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Ode To Hubble Joy

The Hubble Telescope is beloved of astronomers, artists, poets, and screen savers everywhere. For a week it's been in the repair bay of the Space Shuttle being lovingly fixed by spacewalking astronauts. It's a bittersweet moment for the astronauts as word came down that this is the last time the Hubble will be repaired. In the next five to seven years, the Hubble will disintegrate in the atmosphere and be tossed (robotically) into the ocean. The Takeaway's John Hockenberry walks us through the history, problems, and dreams that have been a part of its 19-year existence.

Here's National Geographic's look at the Hubble's last repairs:

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