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Bernanke Blasts AIG, Hearing Spotlights UBS Memo, Execs Profit Off Bad Loans
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UBS Memo at Issue in Senate Hearing » The 2000 memo, to be discussed during a Senate hearing today, focuses on legal advice UBS got from Chicago-based Baker & McKenzie as the bank grappled with how it could keep its clients without violating federal laws that require disclosure of the investments for tax purposes. — USA Today
Execs Profit Off Bad Loans » Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation’s current economic crisis. So it may come as a surprise that a dozen former top Countrywide executives now stand to make millions from the home mortgage mess they helped create. — New York Times
GAO Cites Issues with ICE Program » Immigration officials have failed to develop "key internal controls" over a controversial program that trains state and local police to identify illegal immigrants involved in crime, so some departments are focusing on minor violations rather than on serious offenses, according to federal investigators. — Washington Post
Justice to Disclose More Bush Memos » Justice Department officials intend to release more secret legal memos that underpinned the Bush administration's approach to national security issues, responding to pressure from Democratic lawmakers and interest groups that have sued for access to the sensitive materials, sources said yesterday. — Washington Post
Warrant Issued in Levy Slaying » D.C. police and prosecutors said yesterday that they will charge a 27-year-old Salvadoran man with first-degree murder in the killing of Chandra Levy nearly eight years ago during a sexual assault along a desolate hiking trail deep in Rock Creek Park. — Washington Post
After the jump...
BEST OF THE REST
» Obama Moves to Overhaul Govt. Contracting (AP)
» New Pentagon Post Would Review Weapons Spending (WaPo)
» President Walks a Tightrope on Earmarks (WaPo)
» Supreme Court Divided Over Judicial Bias Case (WaPo)
» Madoff Victims Look for Recompense (USAT)
» Judge: Man Convicted on 'False Evidence' (LAT)
» Bill Would Put Tobacco Under FDA Control (WaPo)
» U.S. Targets Doctors Who Accept Kickbacks (WaPo)
By Amanda Zamora |
March 4, 2009; 9:46 AM ET
The Daily Read
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Next: Obama Targets 'Broken System' of Federal Contracting
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