What happened this week – 1) In France, police raided the home of former president Nicolas Sarkozy. Investigators are looking into campaign-finance fraud. Previous president Jacques Chirac was investigated for embezzlement of public funds after he left office.
2) In the US, Republicans are getting more confident in Mitt Romney’s chances of defeating Barack Obama. The Republican Governors Association raised more money than the Democrats in Q1 2012.
3) In the UK, Bob Diamond resigned as CEO of Barclays Bank in the aftermath of the LIBOR scandal. Simply explained, LIBOR is the average interest rate that banks use to set rates on loans. Barclays, which sets pricing to trillions of dollars of loans, was setting LIBOR higher than the actual rate, pocketing the difference at the expense of its clients. Read more analysis: LIBOR Scandal May Spread to the US Next, Plain-English Explanation of the Barclays Bank LIBOR Scandal, and LIBOR Scandal Highlights Cheating Culture in Banking.
4) Roger Federer wins his 7th Wimbledon singles title, tying him with Pete Sampras and William Renshaw for the most in history. Federer defeated Andy Murray, who has now lost 3 grand slam finals to Federer. Serena Williams won her 5th Wimbledon singles title yesterday (her 14th grand slam). She followed up the singles title by winning the doubles title later in the evening with her sister, Venus.
Top PolicyMic stories – Malware Monday: All You Need to Know to Avoid Doomsday (Courtney Hodrick) – Monday’s Internet shutdown is not a planned cyberterrorism attack, it's an FBI shutdown of servers supporting infected computers.
Barney Frank Makes History, Becomes First Congressman Marrying a Same Sex Partner (Alex Marin) – The Massachusetts congressman married his longtime partner Jim Ready, a small business owner from Ogunquit, Maine, in a ceremony officiated by Massachusetts Governor Deval Patrick.
China's Economy Will Collapse Eventually: The Glorious Days of the Dragon Are Over (Gaurav Moghe) – The deadly trio of growing public protests against the communist regime, an aging population, and the decline in exports may cut China’s three-decade long growth streak.
African Americans Will Vote For Obama, Despite His Support For Gay Marriage(Peter Prime) – Although some African Americans might not approve of President Obama's stance on gay marriage, they would vote for him overwhelming because they agree with him on most other issues.
This is Why Netflix and Hulu Will Eventually Kill Cable Television (Logan Nee) – Netflix is the 15th most-watched 'TV channel' in the U.S., only 4 million viewers shy of Comcast, with a cost ten times lower, and zero commercial interruptions.
You Would Never Believe Which Anti-Gay Companies You Support With Your Money (Courtney Hodrick) – Find out which 6 American corporations have been taking your money to support anti-gay causes and organizations. Trust me, you'd be surprised and disgusted.
11 Things That Suck About America (Michael Luciano) – I wouldn't move to Canada if we fixed these things.
What we’re reading – Microsoft’s lost decade (Vanity Fair); The $3 million weekendin the Hamptons (NYT).
Photo of the day – Amazing dams flood the China’s Yellow River (DailyMail).
Video of the day – I went to Princeton b*tch (Youtube) *A bit dated but hilarious*.
Just for fun – 16 Adorable Animals Show You How To Keep Cool In Record-Breaking Heat (Sarah Swong); Extreme Heat Wave: 10 Weather Inspired Short Poems for a Very Hot Weekend (Courtney Hodrick).