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Unfortunately I believe that we are limited in what we can focus on. I think that if we proceed with the partisan sideshow of prosecuting Bush admin. officials, healthcare will get lost in the brouhaha.
— Posted by denamom, Obama's Quandary...

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Wall Street's Refusal to Learn; New Earmark Rules, Same Problems; Feds Target Madoff's Sons

POSTED: 10:16 AM ET, 03/18/2009 by Amanda Zamora

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Wall Street's Refusal to Learn » Steve Pearlstein: You have to wonder what else has to go wrong, how much more wealth will need to be destroyed, before the people on Wall Street get the message that it's no longer business as usual. The latest outrage, of course, is over the $400 million in retention bonuses promised to those financial geniuses at AIG's Financial Products unit last year, months before the insurance giant was essentially taken over by the government in a bailout that already has required an injection of $170 billion in taxpayer money. — Washington Post

New Earmark Rules, Same Problems » For all of President Obama's promises of reform, a close look at just three of the more than 9,000 earmarks packed into the $410 billion spending bill that he signed last week shows just how hard it will be to clamp down on lawmakers' pet projects. — New York Times

Feds Target Madoff's Sons » Federal prosecutors yesterday for the first time staked claim to tens of millions of dollars lent by swindler Bernard Madoff to his two sons - and also now are targeting his wife's investments in real-estate ventures with owners of the Mets. Meanwhile, Florida property records show how Ruth Madoff obtained a homestead exemption on the couple's Palm Beach mansion in the months before her husband's arrest. — New York Post, Palm Beach Post

Vets Denounce Obama Billing Plan » An Obama administration proposal to bill veterans' private insurance companies for treatment of combat-related injuries has prompted veterans groups to condemn the idea as unethical and powerful lawmakers on Capitol Hill to promise their opposition. — Washington Post

Uproar Over Silenced Drug Study » The industry-sponsored "Study 15" was a long-term trial of the antipsychotic drug Seroquel. The common wisdom in psychiatric circles was that newer drugs were far better than older drugs, but Study 15's results suggested otherwise. As a result, newly unearthed documents show, Study 15 suffered the same fate as many industry-sponsored trials that yield data drugmakers don't like: It got buried. — Washington Post

After the jump...

BEST OF THE REST
» Report: State Dept. Signed New Blackwater Deal (WashTimes)
» Holder Urged to Probe Allegations of Torture (WaPo)
» IRS Cuts Ponzi Scheme Victims a Break (USAT)
» Conservatives invoke Obama in Voting Rights challenge (LAT)
» Diebold Admits Systemic Audit Log Failure (Wired)
» Texas Senate Approves Voter ID Requirements (DMN)
» Records Show a High Cost for Faulty Elevators (NYT)
» Plan Would Limit Prison Chapel Books (NYT)

By Amanda Zamora |  March 18, 2009; 10:16 AM ET The Daily Read
Previous: Bonuses Attacked, But What About Bailout? | Next: AIG Under Fire, The Fed's 'Stunning' Silence, Countrywide's Connections

Comments

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I believe that it is time for federal prosecutors to do their homework and read the entire text of AIG and
Fannie Mae contracts
in conjunction with
18 U.S.C. Section 1001.

Posted by: crisericson | March 18, 2009 9:03 PM

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