SEC's Cox: we ignored Madoff warnings
America Blog Dec 17 08Let's have a big round of applause for the Republican doctrine of less regulation. Not only did the SEC have limited staff (because regulation is unnecessary) but the staff they have now look suspect. The lawsuit frenzy is about to start and investors will be targeting both regulators as well as the banks and investment firms who directed clients to the Madoff funds. It remains a mystery how a single person could manage the monthly statements for a $50 billion fund but we should start hearing more as the books are reviewed. His remarks followed a day of growing demands for the agency to explain how it missed Madoff's alleged $50 billion fraud, including the apparent failure of regulators to spot numerous and massive inconsistencies during an investigation of his company that ended quietly in 2007. Full story...
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Independence of financial market oversight council called into question
America Blog 3 hours agoFrom Shahien Nasiripour at Huff Post:
If the White House and congressional leaders get their way, the vaunted new oversight council charged with overseeing systemic risk in the financial markets will actually be a house organ of the Treasury Department, lacking the independence required to challenge decisions by government regulators, among others.
Lou Dobbs considering presidential bid in 2012
America Blog 4 hours agoI would think a Dobbs candidacy would hurt the Republicans more than us. Some independents may fall for Dobbs' schtick, but his base will be conservative Teabaggers.
More on Glenn Beck finding a Jewish last name funny
America Blog 5 hours agoSpencer Ackerman weighs in on the story we wrote about earlier:
Now, in fairness, I’m a very short Jew, so, it’s not like this thought hasn’t occurred to me either.
Talking to folks in line at a Sarah Palin book signing
America Blog 6 hours agoFrom our good friends at NewLeftMedia. Priceless, as usual.
Obama bringing targets to Copenhagen
America Blog 8 hours agoGlad to see he's stepping up a bit more on this issue. As one of the leading contributors to the problem, it is only normal that other countries expect the US to show some leadership on the issue.
UK police arresting people to collect DNA for database
America Blog 10 hours agoSeriously creepy and the racial profiling is sickening. What is happening over there?
Police officers are now routinely arresting people in order to add their DNA sample to the national police database, an inquiry will allege tomorrow.
Car dealer in Colorado posts billboard linking Obama to Ft Hood, and pushing birther nonsense
America Blog 14 hours agoThe sad, and scary part, is that these people actually believe this stuff.
Blackwater allegedly running covert ops in Pakistan, posing as USAID employees
America Blog 16 hours agoYes, the Blackwater that Bush's DOJ was considering indicting last December. The same Blackwater that was accused of shooting at innocent Iraqi civilians.
Provincetown clarifies Pilgrim history
America Blog 17 hours agoRock? Who needs a rock when you have the real history? Just kidding, of course, but why not check out both fantastic places and their history? I admit to having a bit of bias though because I love P-town.
RNC loses communications director
America Blog 19 hours agoAs Cillizza notes, mid-cycle, that tends to mean turmoil in GOP land.
Trevor Francis, the communications director at the Republican National Committee, is leaving his post, an odd mid-cycle departure that suggests some level of turmoil within the GOP's chief campaign committee.
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