Calling it perhaps the biggest money laundering scheme in U.S. history, federal prosecutors charged seven people Tuesday with running what amounted to an online, underworld bank that handled $6 billion for drug dealers, child pornographers, identity thieves and other criminals around the globe. The case was aimed at Liberty Reserve, a currency transfer and payment processing company based in Costa Rica that authorities say allowed customers to move money anonymously from one account to another via the Internet with almost no questions asked.

NYU professor Nouriel Roubini interviews Google’s Jared Cohen and Eric Schmidt (from left) during an event Monday in New York. (Credit: Shara Tibken/CNET) NEW YORK–The Internet needs a delete button, Google Executive Chairman Eric Schmidt said Monday.

: We got a case study from the sports world in breaking news, citizen journalism, and copyright in the aftermath of a crash at a NASCAR race last weekend that injured more than a dozen fans. The Washington Post’s Erik Wemple has the blow-by-blow of what followed the crash: A fan posted a jarring video of the crash to YouTube, which quickly took down the video, ostensibly because of a copyright violation