"There is no poster child [for the housing scandal] because you need to investigate, and you need to bring cases and we haven't done either against the major players," says William Black, Associate Professor of Economics and Law at the University of Missouri — Kansas City and a former federal regulator.
Black, who was counsel to the Federal Home Loan Bank Board during the S&L Crisis and blew the whistle on the "Keating Five" in 1989, says investigations have shown fraud incidence of 50% at (once) major subprime lenders like IndyMac and Countrywide.
Former Regulator: Clear Fraud in Financial Crisis -- Why Isn't Anyone in Jail?
Top Scientist Rails Against Hirings
The president of the nation's largest general science organization yesterday sharply criticized recent cases of Bush administration political appointees gaining permanent federal jobs with responsibility for making or administering scientific policies, saying the result would be "to leave wreckage behind."
"It's ludicrous to have people who do not have a scientific background, who are not trained and skilled in the ways of science, make decisions that involve resources, that involve facilities in the scientific infrastructure," said James McCarthy, a Harvard University oceanographer who is president of the American Association for the Advancement of Science. "You'd just like to think people have more respect for the institution of government than to leave wreckage behind with these appointments."
Germany drops attempt to ban Scientology
Germany is dropping its pursuit of a ban on Scientology after finding insufficient evidence of illegal activity, security officials said Friday. Domestic intelligence services will continue to monitor the group, officials said. The German branch of the Los Angeles-based Church of Scientology has been under observation by domestic intelligence services for more than a decade.
Bush's WH: Another Falsehood Exposed
The more we learn, the more it seems the appeals to fear that Bush used to rally the nation behind him were unfounded.
The latest example came yesterday in a federal courtroom in Washington, where a Bush-appointed judge ordered the release of five Algerian men who had been held at the Guantanamo Bay detention camp for almost seven years.
Number of juveniles held at Guantanamo almost twice official Pentagon figure
On Sunday, the Pentagon admitted that 12 juveniles -- those under the age of 18 at the time their alleged crimes took place -- have been held at Guantanamo Bay (as opposed to the figure of eight that was submitted to the UN in May).
Last week, the Center for the Study of Human Rights in the Americas, based at the University of California, issued a report pointing out that, contrary to the Pentagon's assertions, at least 12 prisoners were juveniles at the time of their capture.
9/11 Traced Back To Cheney's Energy Task Force Meeting-Do You Agree?
The common sense question is this: How could Cheney include Iraq’s oil resources as part of our energy policy if we had no diplomatic or business relationship with them? Iraq was under sanctions. What business did Cheney have with Iraq’s energy infrastructure? No dealings with Iraq were possible unless something drastic were to happen, like an invasion and occupation. How could he have anticipated such a change when only an event like 9/11 would have made that possible?
New study sees declijne in US power in next 20 years
The risks of a nuclear weapon being used and wars being fought over dwindling resources will grow during the next 20 years as diminishing U.S. power, a shift of wealth from West to East, the rise of India and China and climate change reshape the world, a new U.S. intelligence study warned Thursday.
The report, the fourth in a series that examines the forces that are driving international developments, was written by the U.S. National Intelligence Council, which is composed of the top U.S. intelligence analysts, with input from experts around the world.
Popular Radio Host Has Drug Company Ties
An influential psychiatrist who served as the host of public radio’s popular “The Infinite Mind” program earned at least $1.3 million between 2000 and 2007 giving marketing lectures for drug makers, income not mentioned on the program.
The psychiatrist and radio host, Dr. Frederick K. Goodwin, is the latest in a series of doctors and researchers whose ties to drug makers have been uncovered by Senator Charles E. Grassley, a Republican from Iowa. Dr. Goodwin, a former director of the National Institute of Mental Health, is the first media figure investigated.
New Rule Would Discount Warming as Risk Factor for Species
The Bush administration is finalizing changes to the Endangered Species Act that would ensure that federal agencies would not have to take global warming into account when assessing risks to imperiled plants and animals.
The main purpose of the new regulations, which were first unveiled in August, is to eliminate a long-standing provision of the Endangered Species Act that requires an independent scientific review by either the U.S. Fish and Wildlife Service or the National Oceanic and Atmospheric Administration of any federal project that could affect a protected species. Under the administration's proposal, individual agencies could decide on their own whether a project would harm an imperiled species.
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