TPM News

On Capitol Hill, it seems they just can't stop saying "Ponzi Scheme."

Mitt Romney's not the only one imploring his fellow Republicans to, please, stop calling Social Security a Ponzi Scheme. The one-time establishment GOP superstar Mitch Daniels did it this week, in an interview with the New York Times. Here's what that sounded like:

"If there's a problem with 'Ponzi scheme,' it is that it's too frank, not that it's wrong," Daniels said. There's polling to back him up.

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Mimes, pre-emptive strikes and ice-cream: The Senate's antitrust hearings into Google promise to be, if nothing else, quite colorful as far as business investigations go.

Google's Chairman Eric Schmidt has been interviewed extensively before, but never like this. On Wednesday afternoon, he's going to have to defend his company against accusations of behaving anticompetitively before the Senate Judiciary Committee's antitrust subcommittee.

Still, if Google is at all worried about the occasion, the company isn't showing it. On Tuesday night, Google released a brash, pre-emptive rebuttal to how it sees the committee's line of questioning unfolding on Wednesday. The company has been just as busy trying to frame the debate as its competitors have been.

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The 2012 presidential campaign alone is expected to cost well over $1 billion, and the social networking goliath Twitter wants to get it’s fair share of the advertising buys. Executives told Politico that the company will begin to sell political advertising this week.

The site only began allowing advertising last year, and has slowly been building it’s business in an effort to make revenues match its prominence in today’s world.

‘We’ve had five years to watch and observe how people are using the platform organically and we know politicians are active on the platform, and we know that consumers enjoy the messages from those politicians,’ said Adam Bain, Twitter’s president of global revenue. ‘We’re excited about the election cycle, and we think that ads both in the timeline and in search are a huge opportunity.’

Two American hikers who have been detained in Iran have been released, CNN reports, citing Iran’s state-run Press TV.

Press TV reported the following on its website: “Branch 36 of Tehran’s Appeals Court has agreed to commuted the detention sentences of the two US nationals to release on a bail of USD500,000, a statement released by Iran’s Judiciary said on Wednesday.”

NEW YORK/EAST OF SIRTE, Libya (Reuters) – Libya will likely name a new government within 10 days, interim Prime Minister Mahmoud Jibril said, raising hopes of political progress in the fractured country weeks after the overthrow of Muammar Gaddafi.

WASHINGTON (Reuters) – The Federal Reserve on Wednesday looks set to launch a fresh effort to invigorate the faltering economic recovery, embarking on what could be the first in a series of incremental steps to foster stronger growth.

TEHRAN (Reuters) – Iran is expected on Wednesday to free two American men convicted of espionage on bail and turn them over to the Swiss embassy in Tehran, their lawyer told Reuters.