Money & Politics
Robert Rubin will resign from the beleaguered Citigroup. As Treasury secretary during the Clinton administration, Mr. Rubin helped loosen Depression-era banking regulations that made Citigroup's creation possible. He also helped beat back tighter oversight of exotic financial products during that time.
Many of the same American corporate executives who have reaped millions of dollars from arms and oil deals with the Saudi monarchy have served or currently serve at the highest levels of U.S. government, public records show.
Business and trade-group lobbyists are beating a path for the first major battle over the Obama administration's efforts to overhaul the financial regulatory system. Recent discussions have involved the American Bankers Association, National Auto Dealers Association, U.S. Chamber of Commerce, Mortgage Bankers Association and other lobbyists.
Did a few individual traders in London conspire to rig global interest rates in order to enrich themselves or were they just pawns in an ongoing conspiracy by major banks designed to routinely skim billions from the international financial system?
According to documents seen by the Financial Times, BAE Systems has been linked to Zimbabwean arms trader John Bredenkamp. BAE reportedly paid at least Â£20m to Bredenkamp via offshore entities in the British Virgin Islands between 2003 and 2005. The payments raise fresh questions about bribery in BAE's dealings.
Prosecutors in Italy said Monday that former Parmalat Chief Executive Officer Calisto Tanzi was a flight risk and requested he be arrested. Tanzi has already been sentenced to a 10-year prison sentence on market-rigging charges and filing false reports with regulators in the wake of the collapse of Parmalat, the ANSA news agency reported
Two senior Tanzanian officials were arrested after they failed to produce details of 26 multi-billion dollar agreements signed with Statoil of Norway; the BG Group and Ophir from the UK; and ExxonMobil from the U.S. Opposition politicians want assurances that the money will be spent in a transparent manner.
A plan to build a new, large coal-fired power plant has proved divisive in the Navajo community in Nevada, with some arguing that it will bring the community millions, while others saying it is a lethal "energy monster" and harbinger of environmental destruction.
Was I the only editorial writer that noticed the remarkable comment by President Bush's chief economic advisor Saturday? Lawrence Lindsey was doing his bit this weekend to put the best possible face on last week's embarrassingly vacuous Waco economic summit. One of his stops was CNN's Novak, Hunt & Shields.