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  • NPR's Snigdha Prakash reports on a Massachusetts-based internet startup that plans to take the idea behind frequent flyer programs and apply it to an entirely new area: college savings. UPROMISE says it is signing up credit card companies, grocery chains, car companies and will take the rebates these companies offer and put them in a college savings investment account. Financial advisors are skeptical that such programs are a good idea for most people.
  • Inflation remained in check last month as consumer prices rose at the same pace as in five of the past six months. As NPR's Jack Speer reports, core prices rose just two-tenths of a percent last month, when food and energy prices are NOT taken into account. Even though gas prices escalated sharply in June, many economists see inflation remaining tame and believe the Federal Reserve is successfully engineering a "soft landing" for the booming economy.
  • Sen. Richard Shelby (R-AL) calls for an investigation of SEC Chairman Harvey Pitt's handling of the appointment of ex-FBI and CIA chief William Webster to head a new accounting oversight agency. NPR's Steve Inskeep reports.
  • Commentator Morton Dean is puzzled that voters did not hold members of Congress and President Bush accountable for the security lapses that resulted in the September 11th terrorist attacks. Dean says he's surprised that the attacks were not raised as an issue in the election campaign.
  • Irs
    A new report released today by the General Accounting Office says the Internal Revenue Service had botched a multi-billion dollar modernization project. The project, to replace the agency's thirty-year-old computer system, has already cost taxpayers more than four billion dollars. The GAO says the new system is way over budget, far from being finished, and riddled with problems. NPR's John Nielsen reports.
  • NPR's John Ydstie concludes his series on reforming the social security system with an examination of the plan favored by the advisory council's chairman, Ned Gramlich. Gramlich's proposal occupies the middle ground between the other two plans. It also relies on the financial markets to boost retiree benefits, but without redirecting a large chunk of the payroll tax into personal retirement accounts.
  • the Clinton Administration out of expanding a law requiring them to detail all the chemicals that go into plants and factories. Environmentalists are pushing for the expansion, to hold the chemical industry accountable for accidents and toxic pollution.
  • Harvey Pitt resigns as chairman of the Securities and Exchange Commission. Pitt had a stormy 15-month tenure as SEC chief and was recently under fire for his handling of the appointment of William Webster to head an accounting oversight board. Hear NPR's Jim Zarroli and James Cox of Duke University.
  • Harvey Pitt resigns as chairman of the Securities and Exchange Commission. Pitt had a stormy 15-month tenure as SEC chief and was recently under fire for his handling of the appointment of William Webster to head an accounting oversight board. Hear NPR's Jim Zarroli.
  • Six University of Maryland students admit they got extra help on an accounting exam by surreptitious use of cell phones. (At least they weren't driving.) Also, a Norwegian lawmaker apologizes for playing a war game on a pocket computer at a most inappropriate time.
  • NPR's David Welna reports on President Bush's newly revealed Social Security Commission. The panel is supposed to develop a Social Security reform plan by next fall. Democrats on Capitol Hill were unenthusiastic about the announcement, claiming Bush stacked the deck against them by loading the commission with members who all favor personal retirement accounts.
  • NPR's Madeleine Brand talks to Tess Vigeland of Marketplace about the latest turn in the WorldCom accounting scandal. Ten former WorldCom board members reportedly have agreed to pay millions of dollars out of their own pockets to settle some pending lawsuits.
  • President Bush's plan to allow private accounts for Social Security may send a lot of business to Wall Street; but lobbyists for reform say the returns for financial firms are not necessarily so great. NPR's Peter Overby reports.
  • Los Angeles Times film critic Kenneth Turan reviews Alex Gibney's award-winning documentary, Enron: The Smartest Guys in the Room. Gibney adapted a book that chronicles the fantastic rise and demise of the company that was engulfed in scandal when its outrageous accounting practices were exposed.
  • Former Worldcom chief Bernard Ebbers is indicted on charges that he participated in an $11 billion accounting fraud at the company. In the same investigation, former Worldcom chief finance officer Scott Sullivan pleads guilty and will cooperate with federal prosecutors. Ebbers and Sullivan are charged with securities fraud and conspiracy. NPR's Robert Smith reports.
  • Alan Cheuse reviews A Hole in Texas by 88-year-old Herman Wouk, a fictional account of a scientist involved with the Texas-based Superconducting Super Collider project. Set in the 1990s the novel has both Hollywood and Congress woven into its plot.
  • Two Republicans have opened campaign accounts to try to succeed Rep. Dan Raulerson, R-Plant City, and House Minority Leader Janet Cruz, D-Tampa, in…
  • The intricacies of accounting fraud can be confusing, if not dull. But not always. New York Times writer Kurt Eichenwald's new book on corporate deceit and betrayal in the Enron scandal, Conspiracy of Fools, is full of riveting detail. He tells Jennifer Ludden about the reporting process.
  • British historian David Cesarani's new book, Major Farran's Hat, is a nonfiction account of the final days of the British mandate in Palestine.
  • NPR's Margo Adler reports that Swiss banking authorities and officials from several Jewish organizations signed an agreement last week that may provide a full accounting of funds deposited in Swiss banks by European Jews in the years before the Holocaust. Holocaust survivors and families of holocaust victims have not been able to trace the funds until now due to the secrecy laws governing Swiss banks.
  • The U.N. expects Saturday delivery of an Iraqi accounting of chemical, biological and nuclear programs. Iraqi officials say the report will be exhaustive, but will produce no previously undisclosed information. Hear NPR's Michele Kelemen and Christopher Joyce.
  • Weapons inspectors will brief the U.N. Security Council on their assessment of Iraq's weapons declaration. United States and British officials have said the documents represent less than a full and accurate accounting of Iraq's weapons program. NPR's Vicky O'Hara reports.
  • Sad accounts of babies being dumped to die prompted many areas of the country to designate places where parents could safely abandon their newborns and escape prosecution. However, hardly any infants have been turned in this way. NPR's Jerome Vaughn reports from Detroit that supporters of the idea say they just need to back their good intentions with publicity.
  • Doctors and abortion clinics are receiving their first shipments of the abortion pill that was authorized for use in the U.S. in September. In France, where RU486 was invented, it was put on the market -- with difficulty -- in 1988. Now, it accounts for one-third of all abortions there. NPR's Sarah Chayes reports from Paris that French abortions are actually decreasing; still, pharmaceutical companies want little to do with the pill.
  • President Bush says he will continue to press for changes to Social Security, despite signs that many Americans are opposed to it. At a White House news conference, Bush says he is committed to private accounts but admits they will not fix the financial problems that loom ahead for Social Security.
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