Bush Officials Seek to Sway Probe; Pentagon IG Withdraws Report; SEC Sues First Fund to 'Break the Buck'
Ex-Officials Seek to Sway Ethics Probe » Former Bush administration officials have launched a behind-the-scenes campaign to urge Justice Department leaders to soften an ethics report criticizing lawyers who blessed harsh detainee interrogation tactics, according to two sources familiar with the efforts. Meanwhile, sources suggest Justice Department investigators will not seek criminal charges against the lawyers. — Washington Post, Associated Press
Pentagon IG Withdraws Report » In a highly unusual reversal, the Defense Department's inspector general's office has withdrawn a report it issued in January exonerating a Pentagon public relations program that made extensive use of retired officers who worked as military analysts for television and radio networks. — New York Times
SEC Sues First Fund to 'Break the Buck' » The Securities and Exchange Commission yesterday filed civil fraud charges against a large money market fund and two of its executives, alleging that the Reserve Primary Fund misled investors about potential losses connected to the bankruptcy of Lehman Brothers. — Washington Post
Despite Shortfall, Teachers Paid Not to Teach » About 160 Los Angeles teachers and other staff are being paid to do nothing, awaiting allegations of misconduct to be resolved. All told, they collect about $10 million in salaries per year -- even as the district is contemplating widespread layoffs of teachers because of a financial shortfall. — Los Angeles Times
After the jump...
BEST OF THE REST
» SEC Opens First Insider Trading Case (FT)
» U.S. May Set a Debt Test for TARP Banks (NYT)
» Fed Directors' Ties to Banks Spur Calls for Changes (WSJ/$)
» Congress to vote on finance probe (Politico)
» WellCare to pay $80 million; may avoid fraud conviction (AP)
» Blago Case: 400 hours of tape, 1 million documents (Sun-Times)
» Greensboro's minority hiring practices investigated (News-Record)
By Amanda Zamora |
May 6, 2009; 9:58 AM ET
The Daily Read
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