What is the Libor?
The London Interbank Offered Rate is the average interest rate London banks are charged when they borrow from each other. The Libor rate can affect how much interest someone in the United States must pay on credit cards, home mortgages or other loans. So reports that traders at Barclays Capital in London were manipulating Libor rate information has created widespread concern about the integrity of the entire banking system.
Why are Islamist militants attacking religious landmarks in Timbuktu, Mali?
The militants have attacked a number of tombs and mosques, including destroying two tombs at a 14th century mosque Tuesday, to wipe out what they consider un-Islamic idolatry. The group Ansar Dine has attacked the ancient mosques, considered world heritage treasures, to wipe out any trace of a local Sufi version of Islam that the group considers illegitimate.
Why will it take so long to fix the Washington Monument?
It will actually take between 12 and 18 months to repair the Washington Monument, which was damaged by an August 2011 earthquake. That is, once the work starts. Until now, the National Park Service has been assessing the damage, soliciting bids from contractors and giving bidders time to reply. The contractor for the project is expected to be named in September, more than a year after the damage was inflicted.
