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The three major credit ratings agencies gave mortgage-backed securities unjustifiably high ratings in return for lucrative fees, losing at least $457 million for five Ohio public employee pension and retirement funds, the state's attorney general alleged in a lawsuit filed Friday.
Regulators have proposed rules to stem conflicts of interest and provide more transparency for credit rating companies. They also proposed banning "flash orders," which give some traders a split-second edge in buying or selling stocks.
The Obama administration on Tuesday sent Congress legislation seeking to tighten government oversight of Wall Street's credit rating agencies and stem potential conflicts of interest in their business practices to protect investors.
The Obama administration's new strategy to help fight Mexican drug cartels is getting under way without presidential picks to run the U.S. agencies in charge of battling drugs, border smuggling and illegal guns.
Lawmakers on Tuesday proposed tightening oversight of Wall Street's credit rating agencies as regulators move to reshape supervision of the industry widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities.
The head of the Securities and Exchange Commission said Wednesday the agency must do more to tighten oversight of Wall Street's credit-rating industry to help bolster investor confidence. Proposals to reshape the industry and its supervision were advanced at a public forum hosted by the agency.
Connecticut Attorney General Richard Blumenthal is questioning why up to $400 million in federal bailout money is going to the big three credit-rating agencies that he says helped create the economic meltdown.
President-elect Barack Obama's decision to fill the nation's top intelligence jobs with two men short on direct experience in intelligence gathering surprised the spy community and signaled the Democrat's intention for a clean break from Bush administration policies.
Instead of giving Christmas gifts to his family last year, John McWhorter donated money to budding entrepreneurs. His gift, administered through , provided microloans to eight impoverished families worldwide, enabling them to start their own businesses.
Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street's credit-rating industry, widely faulted for its role in the subprime mortgage debacle and ensuing credit crisis.
The Securities and Exchange Commission on Wednesday delayed a plan to adopt new rules aimed at stemming conflicts of interest in Wall Street's credit rating industry.
European Union regulators on Wednesday proposed strict new rules for credit rating agencies that would hold them liable for their opinions and stop them from advising banks on how to get top debt ratings.
Executives and employees at the major credit ratings agencies were often aware of problems in the AAA grades awarded to thousands of mortgage-related securities whose downgrades helped plunge the nation into a financial meltdown.
Connecticut sued three of the nation's leading credit rating firms Wednesday, alleging they gave artificially low credit ratings to cities and towns that ultimately cost taxpayers millions of dollars in unnecessary insurance and higher interest payments.
The three main credit-rating agencies failed to rein in conflicts of interest in giving high ratings to risky securities backed by subprime mortgages that later collapsed, federal regulators said Tuesday.
President Hugo Chavez is revamping his intelligence agencies to counter what he calls U.S. attempts to undermine his government.
The broad regulatory changes proposed by the White House Monday add to an ongoing debate in Washington about what is needed to clean up the mess created by Wall Street’s failure to manage its own risky investments — and keep it from happening again.
Executives from major credit rating agencies on Wednesday were accused by senators of being hampered by conflicts of interest that may have contributed to the mortgage market turmoil rattling investors worldwide.
DAWN.COM | Columnists | Why not a civilian head of ISI?By Kamran Shafi Tuesday, 17 Nov, 2009
Freedom of Speech Once Again Labeled Extremism By U.S. GovernmentOnce again the Federal Government seeks to stymie free speech through the labeling of people speaking out as potential terrorist. Maybe they are trying to exploit the old adage that no PR is bad PR? So here we go again.
South L.A. boy died after previous reports of abuse Another child dies as a result of negligence by Local, County, State Agencies
We, as Americans, live in troubled financial times. If you are in the Sunshine State of Florida, you will find that this area is especially hard hit by this issue.
Philippines falling apartThe signs are all around us. The agencies and institutions which form the polity of this nation are falling apart.
Obama Courted Federal Employees With Letters Before Election; Promised Federal Agencies Renewed Role - washingtonpost.comBarack Obama sent a series of letters to career workers in Federal agencies that offer detailed descriptions of how he intends to add muscle to specific government programs, give new power to bureaucrats and roll back some Bush administration policies.
Al Gore, Colin Powell, Caroline Kennedy in Obama's Administration? - Washington Whispers - usnews.comNow the above transition flowchart. It is making the rounds in Washington tonight, though our source would not reveal the actual source of the document. It lists suggestions for top cabinet posts, many of which have been rumored for days inside and outside the new administration.
San Jose, CA: Don't balance state budget on redevelopment's backWith financial crisis looming in the federal governement and in the state of California, the impact is also in the local areas of the nation's strongest economic areas. Harry S. Mavrogenes, Special to the San Jose Mercury News, wrote on 07 September 2008,
This is old news, but a good place to start: Economic disparities between England's regions are profound and long standing.
Eyes Wide Shut — A look at America's food-inspection agenciesFeel like an open-faced sandwich for lunch? Every day, the United States Department of Agriculture (USDA) inspects manufacturers of open-faced meat and poultry sandwiches sold via interstate commerce.
Finding the right domestic staff agencyIt can make sense for busy employers to use an agency to run the background checks and conduct the initial interviews but should you use more than one domestic staff agency in the same way that you might use more than one realtor to sell your house?
Oversight Committee Asks Agencies for Information on Political PresentationsChairman Waxman writes to government agencies requesting further information and documents about any briefings mentioning elections or candidates provided to agency employees by officials in the White House. Included here are links to each letter he's sent out (.pdf format).
Bush increases power to override federal health, environment, civil rights and privacy agenciesPresident Bush has signed a directive that gives the White House much greater control over the rules and policy statements that the government develops to protect public health, safety, the environment, civil rights and privacy.
Bush directive makes all agency regulations subject to political reviewThose independent scientists and policy experts too often put facts, science and the public good before the needs of business and power-grabbing politicians.
Web Trend Map 2007The iA Trend Map shows all the big players, the current Internet trends and how they're connected. It's totally unscientific and almost useless, but definitely fun to look at.
I was reading an article on the BBC website, named 'Blogging the Conflict in Lebanon', and it got me thinking.
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