People like him never get in trouble!
In the days following MF Global’s stunning implosion last year, a senior executive at the firm made a startling concession to investigators looking into both the company’s demise and the loss of more than $1 billion in customer money, according to people with direct knowledge of the matter.
MF Global’s chief financial officer for North America, Christine Serwinski, told investigators that her boss, MF Global’s chief executive, Jon Corzine, was well aware of the use and possible misuse of the customer funds during the firm’s final days, and as a result, Corzine may end up in “jail,” these people add.
Serwinski’s initially account of MF Global’s bankruptcy — and who might be to blame for the loss of $1.6 billion in customer funds — has yet to be disclosed, and could add a new dimension to the year-long federal investigation into the firm’s implosion.
Maybe Moodys should cut first to put the pressure on.
WASHINGTON (MNI) – The following is the text of a statement Tuesday by rating agency Moody’s:
Budget negotiations during the 2013 Congressional legislative session will likely determine the direction of the US government’s Aaa rating and negative outlook, says Moody’s Investors Service in the report “Update of the Outlook for the US Government Debt Rating.”
If those negotiations lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term, the rating will likely be affirmed and the outlook returned to stable, says Moody’s.
If those negotiations fail to produce such policies, however, Moody’s would expect to lower the rating, probably to Aa1.
Some things never change.
IT was perhaps the most famous presidential briefing in history.
On Aug. 6, 2001, President George W. Bush received a classified review of the threats posed by Osama bin Laden and his terrorist network, Al Qaeda. That morning’s “presidential daily brief” — the top-secret document prepared by America’s intelligence agencies — featured the now-infamous heading: “Bin Laden Determined to Strike in U.S.” A few weeks later, on 9/11, Al Qaeda accomplished that goal.
On April 10, 2004, the Bush White House declassified that daily brief — and only that daily brief — in response to pressure from the 9/11 Commission, which was investigating the events leading to the attack. Administration officials dismissed the document’s significance, saying that, despite the jaw-dropping headline, it was only an assessment of Al Qaeda’s history, not a warning of the impending attack. While some critics considered that claim absurd, a close reading of the brief showed that the argument had some validity.
(CNSNews.com) – Over the past three years, the bound edition of the Code of Federal Regulations has increased by 11,327 pages – a 7.4 percent increase from Jan. 1, 2009 to Dec. 31, 2011. In 2009, the increase in the number of pages was the most over the last decade – 3.4 percent or 5,359 pages.
Over the past decade, the federal government has issued almost 38,000 new final rules, according to the draft of the 2011 annual report to Congress on federal regulations by the Office of Management and Budget. That brought the total at the end of 2011 to 169,301 pages.
At 8:46 AM, in New York City and at the White House in Washington DC, there was a moment of silence to remember when the first plane hit the World Trade Center on September 11, 2001. In New York, the NYPD, FDNY, Port Authority Police and the families of the victims were present, while in Washington the President and the First Lady led the moment.
The cable networks all carried it, with ABC’s “Good Morning America” and “CBS This Morning” carrying it as well. The only national general news program to not carry the moment of silence was NBC’s ‘Today,” which, in an odd bit of counter-programming, opted to air an interview with “Keeping Up With the Kardashians” star Kris Jenner, who talked about the new season of the reality show, and her breast implants.
But the bad guys shouldn’t worry. The media will not report any of this and for sure, there will be no investigation by the justice department.
The Obama administration is famous for its crony capitalism. It’s famous for wasting money on disastrous investments like Solyndra to pay off its political allies. It now appears, however, that they go a step further: they put public funds in bad investment loans, then double down on their bad loans with free cash grants.
Here’s the short story: Angus King, former governor of Maine, Obama supporter, and front-running independent Senate candidate, owned a wind company. Obama’s Department of Energy handed over a deeply questionable $102 million loan to that company. It appears that as that company was coming under investigation, King quickly divested himself of his interests, hoping he was doing so just in time to escape scrutiny, and as he was preparing to announce his candidacy for Senate.