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Fed May Gain More Oversight, Fuld Sells Mansion for $10, Blago Boycotts Impeachment Trial

POSTED: 09:23 AM ET, 01/26/2009 by Amanda Zamora

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Fed May Gain More Oversight » A Congressional initiative to give the Federal Reserve new authority to examine the workings of a wide range of companies in response to the financial crisis is raising concerns about whether it would concentrate too much power in a single federal body. Meanwhile, Vice President Biden acknowledges the possibility of the Treasury requesting additional bailout funds. — Washington Post, New York Times

$13 Million Mansion Sold! For $10 » According to county records, Richard S. Fuld Jr., the former chairman and chief executive of Lehman Brothers, sold the seaside mansion on Jupiter Island, Fla., to his wife for $10. The motivation is unclear, but Fuld has been under intense scrutiny since Lehman declared bankruptcy in September. — Washington Post

Boycotting Impeachment, Blago Makes the Rounds » Illinois Gov. Rod Blagojevich mentions considering Oprah for Obama's open Senate seat during his talk show circuit -- which included ABC's Good Morning America, The View and CNN's Larry King Live -- as state senators prepare to open the trial that could result in his removal from office. — USA Today

Depts. Fall Short on Civil Liberties » The departments of Defense, State, and Health and Human Services have not met legal requirements meant to protect Americans' civil liberties, and a board that's supposed to enforce the mandates has been dormant since 2007, according to federal records. — USA Today

UBS Investigation Expands » UBS AG is under legal pressure as U.S. tax investigators say they believe the number of American clients that UBS helped to avoid taxes could be much higher than the previously disclosed estimate of about 17,000. — Wall Street Journal

After the jump...

BEST OF THE REST
» Report: Citigroup Buying $50 Million Jet (NYPost)
» Mass. House Speaker Resigns Amid Friend's Ethics Probe (AP)
» Franken Has the Lead, but Coleman Has His Day in Court (WaPo)
» Oregon Mayor in Sex Dispute Is Staying Put (NYT)
» U-Visa Program for Crime Victims Falters (LAT)
» Pricewaterhouse Partners Arrested in Satyam Probe (WSJ)
» Some worried about detainee transfer to Iraq (USAT)
» Notorious Abu Ghraib prison set to reopen (USAT)

By Amanda Zamora |  January 26, 2009; 9:23 AM ET The Daily Read
Previous: Former NY GOP Leader Indicted | Next: The Governor's Last-Ditch Media Blitz

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