Friday marks the day that 100 years ago, Grand Central Terminal opened its doors for business for the very first time. The largest railroad terminal in the world, the magnificent Beaux-Arts building is in the heart of New York City on 42nd St. And while it no longer serves long-distance trains, it's still a vibrant part of the city's eco-system.
This week saw the end of a years-long, international, multi-billion-dollar battle over one of the most boring things in finance: savings accounts.
At the center of the battle was Iceland, a tiny country where the banks grew into international behemoths during the credit bubble.
The banks got so big partly by convincing foreigners to open up online savings accounts. In particular, lots of people in England and Netherlands opened up "ICESAVE accounts" with a bank called Landsbanki. During the financial crisis, the bank collapsed.
Melissa spent months looking for a job — any job. For days, the 25-year-old consistently visited her welfare-to-work program in downtown Brooklyn, resume in hand and an interview smile splashed across her face.
"Every day, Monday through Friday, 9 to 4," she explains. "That's dedication."
Melissa, who asked us to not reveal her last name, has plenty of job experience. She's a self-identified "people person" and says she aces every interview. But there's just one thing holding her back: the past.
As cocaine consumption falls in the United States, South American drug traffickers have begun to pioneer a new soft target for their product: big and increasingly affluent Brazil.
And the source of the cocaine is increasingly Bolivia, a landlocked country that shares a 2,100-mile border with Brazil.
As Brazilian police officers and border agents can attest, the drug often finds its way to Brazil by crossing the Mamore River, which separates the state of Rondonia from Bolivia in the heart of South America.