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Stories Tagged With Corruption

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7 Pikks

‘We are losing our nation to lies about the necessity of war’

"We are losing our nation to lies about the necessity of war. Bring our troops home. End the war. Secure our economy." It's not the first time Kucinich has lambasted aid funding to Afghanistan. The Congressman declared in a 2009 press release: "U.S. contractors are paying U.S. tax dollars to the Taliban in order to protect the delivery of U.S. shipments of U.S. goods to U.S. soldiers so that our soldiers can fight the Taliban."
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2 comments (last by kapauldo)
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4 Pikks

Goldman Sachs swears it didn't bet against its clients

Goldman executives maintained they had acted to minimize risks and denied that they bet against their own clients. They described the firm as a "market maker" as opposed to an investment adviser, and they rejected senators' comparisons of their actions to those of Las Vegas bookies.
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7 Pikks

Goldman executives cheered housing market's decline (in emails)

In an e-mail sent in the fall of 2007, for example, Goldman executive Donald Mullen predicted a windfall because credit-rating companies had downgraded mortgage-related investments, which caused losses for investors.
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4 Pikks

Eric Massa scandal: FBI, Justice Dept. open probe of payments

Federal authorities have launched a public corruption investigation into events surrounding former representative Eric Massa (D-N.Y.), according to documents obtained by The Washington Post.
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4 Pikks

A primer on financial derivatives

A growing variety of derivatives are designed to meet different financial needs. In a "swap," the most common form of derivative, two parties agree to exchange flows of income from different investments to manage different risk exposures in their respective portfolios. One party in such a deal might want the potential of rising income from an investment with a floating interest rate, while the other might prefer the predictable payments ensured by a fixed interest rate. In this case, the sides agree to trade in what is known as a "plain vanilla swap."
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1 comment (last by randyc)
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4 Pikks

Karzai accuses "West" of wanting puppet government, voter fraud

President Hamid Karzai on Thursday delivered one of his most stinging criticisms to date of the foreign presence in Afghanistan, accusing the West and the United Nations of wanting a "puppet government" and of orchestrating fraud in last year's election.
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5 Pikks

Consultants getting $722M from NYC for project 7 yrs behind sched

The city is paying some 230 "consultants" an average salary of $400,000 a year for a computer project that is seven years behind schedule and vastly over budget. The payments continue despite Mayor Bloomberg's admission the computerized timekeeping and payroll system - called CityTime - is "a disaster."
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NOT

4 Pikks

Blackwater Banned

Federal auditors on Monday put a stop to Army plans to award a $1 billion training program for Afghan police officers to the company formerly known as Blackwater, concluding that other companies were unfairly excluded from bidding on the job.
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MAD

SAD

4 Pikks

Lehman Hastened Its Own Bankruptcy, caused Great Recession

rather than working to prevent the collapse, senior Lehman executives, auditor Ernst & Young and other investment banks may actually have hastened it, according to a report in The Wall Street Journal.
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6 Pikks

House bans earmarks to for-profit companies

Facing an election-year backlash over runaway spending and ethics scandals, House Democrats moved Wednesday to ban earmarks for private companies, sparking a war between the parties over which would embrace the most dramatic steps to change the way business is done in Washington.
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AIG

7 Pikks

AIG employees are angry with the public outrage- pikk a side

The employees said that the corporate leaders who had driven the firm into the ground were already gone from the company. Those who had remained behind to help clean up the mess and repay the taxpayer bailout were due their compensation, they told Pasciucco. "You made a commitment to us, and we made a commitment to you. And for anybody to look beyond that, as the politics and the media are at the moment, is missing the point," said an employee. "You can't expect us to just roll over and ignore that commitment because there is a bunch of immoral bigots that intend us to do something different. It's not going to happen."
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6 Pikks

Former D.C. Mayor Marion Barry is accused of corruption

A team of investigators hired by the D.C. City Council accused council member Marion Barry of public corruption Tuesday for securing a $15,000 contract for his ex-girlfriend and taking a cut for himself.
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3 comments (last by randyc)
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