Transition Watch, Sen. Stevens' Fate, Wall Street Bucks Regulation
Hello and welcome to Friday's edition of the Daily Read. With 67 days left until the inauguration, Barack Obama's transition into the presidency continues to dominate the news, along with the financial crisis. We're keeping tabs on the accountability issues that arise in both. See anything we missed? Post your suggestions in the comments below.
Transition Watch » Public interest advocates are fretful that high-dollar bundlers who raised funds for Barack Obama, the candidate, are landing significant posts on the transition team of Obama, the president-elect ... meanwhile, it seems that despite Obama's disdain for Washington influence peddlers, Democrats are benefitting from a post-election boom on K Street. — Washington Post
Will GOP Oust Stevens? » Sen. Ted Stevens (R-Alaska), who was convicted in federal court Oct. 27, should have more information on the fate of his 40-year career in the Senate next week: Alaska election officials expect final results in his bid for reelection, and his Senate colleagues may consider whether to remove Stevens from the Republican caucus. -- USA Today
Financial Crisis » As we await word on how the government plans to impose the requisite oversight of the Treasury Department's bailout plan, Wall Street and ordinary Americans are both left to wonder whether the rescue plan is actually working ... meanwhile, top hedge fund managers are warning congress that knee-jerk regulation could push financial jobs overseas.— New York Times, The Guardian
Unions Wage Campaign Against CVS » Change to Win, a group of unions that represents about six million workers, is accusing CVS Caremark Corp. of violating patient privacy and improperly pushing doctors to prescribe a costly prescription. — Wall Street Journal
Catholic Church Severs ACORN Ties » The Roman Catholic Church is cutting off funds to the community organizing group ACORN, citing complaints over its voter registration drives in the Nov. 4 election as part of the reason. — CNN
Anthrax Hoax Suspect Indicted » A 66-year-old former teacher was indicted Thursday by a federal grand jury for allegedly mailing out 120 letters nationwide containing packets of sugar marked "anthrax." — Sacramento Bee
Va. Bollywood Investor's Fraud » Vijay K. Taneja was an icon in the local Indian community, a flashy movie producer who invested millions in Bollywood films. Yesterday, Taneja pleaded guilty in U.S. District Court in Alexandria to a fraud enterprise that cost banks at least $33 million, the largest mortgage fraud case in Virginia in almost 20 years. — Washington Post
U.S. Blocks Chinese Milk Products » Federal food safety officials yesterday began holding up shipments of food from China that contain milk or milk-derived ingredients in the largest effort to date to keep melamine-tainted products from reaching U.S. consumers. — Washington Post
Chile Fails to Notify HIV Victims » Chile's health minister said Thursday that there was "no justification" for the public health system's failure to notify at least 512 people that they were infected with HIV, and that private-sector services did not inform an additional 1,364 that they were carrying the virus. — New York Times
Please email us to report offensive comments.