After a scandal, somebody finally gets rich for doing the right thing. It's NPR's business news.
A former banker, Bradley Birkenfeld, has just been awarded $104 million by the IRS. That is believed to be the largest amount ever paid to an individual whistle-blower. Birkenfeld told the IRS how a Swiss bank was helping thousands of Americans evade taxes, and was then thrown in jail.
It's shaping up to be an important day for the European Union and the future of its currency. In the Netherlands, there is a parliamentary election that's expected to be a barometer of Dutch support for staying in the eurozone. Also this morning, a plan was unveiled to give the European Central Bank the power to supervise the big financial institutions in Europe. And, Germany's high court ruled that the European bailout fund is legal.
NPR's Jim Zarroli joins us now from Berlin to talk about this.
Originally published on Tue September 11, 2012 2:07 pm
Credit Lam Thuy Vo / NPR
It's been four years since the U.S. launched a massive bailout of the financial system and the auto industry. While much of the bailout money has been paid back, the government still owns large shares in companies such as AIG and GM, and has yet to recoup some $200 billion in bailouts.