It's MORNING EDITION from NPR News. Good morning, I'm Steve Inskeep.
Here's a sign of just how huge the housing and foreclosure crisis has been. Five big banks agreed to pay about $25 billion to people who've been harmed bank's abuses, plus an extra billion to settle a claim involving a mortgage company. And one of the first reactions is that all that money could not possibly be enough.
President Obama says the banks will spread the money around.
Overall economic numbers for this year have been looking better, but almost every forecast for 2012 has included at least a mention that catastrophe could still come from Europe. The crisis over Greece's debt is not over, even after yesterday when lawmakers approved more budget cuts and economic reforms. Now Greek unions are protesting again.
Resolving this crisis has taken years, and there's a reason: a debt crisis has never really been solved this way before. Here's Zoe Chace of NPR's Planet Money team.
NPR's business news starts with social networking profits.
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INSKEEP: You can get attention on the Internet. You can even draw a massive crowd in seconds. The question always is how to make money. Investors have been scrutinizing Facebook's plans to go public and trying to figure out the company's prospects.
To people who visit the idyllic tourist destination of the Maldives, politics can seem far away. But this week, the country's President Mohamed Nasheed stepped down after weeks of demonstrations. He was forced to resign by elements within the police and army. Here's how he described the situation to Al Jazeera.
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PRESIDENT MOHAMED NASHEED: This is a coup. It definitely is, if you find any definition of a coup anywhere. I did not want to defend. That is why there was no blood.
The conflict between the Catholic Bishops and the White House over contraceptive coverage has American Catholics choosing sides.
Catholics narrowly support the White House position in polls. There are potential political consequences: In presidential elections, Catholics are swing voters. They supported Al Gore in 2000, President George W. Bush in '04 and President Obama in '08.
The GOP presidential hopefuls are certainly using this issue. Framing it as a question of religious freedom is a guaranteed way to fire up the conservative base.
The nuclear industry is celebrating the federal Nuclear Regulatory Commission's decision to give the go-ahead for a utility company to build two new nuclear reactors in Georgia, the first license to be granted for a new reactor in the U.S. since 1978. But last year's accident at reactors in Fukushima, Japan, still clouds the future of nuclear power, as does the cost of new power plants.
Southern Co. will build the reactors at its Vogtle site in Georgia, where two older reactors already operate.