Daily News Channel
The House of Representatives passed legislation Thursday to try to recoup bonuses paid to Wall Street executives with taxpayer money. The measure passed, 328-93; most Democrats supported the measure, while Republicans were sharply divided.
President Obama topped a town hall appearance Wednesday by claiming responsibility for the bonuses paid out to executives at the bailed-out insurance giant American International Group, saying, "I’m outraged, too." Cushioned by high approval ratings, analysts said Obama can emerge from this controversy relatively unscathed, but there’s only so many times he can get away with saying, “Blame me.” AIG accepted more than $170 billion in federal assistance in the past six months. It was revealed this week that since accepting those funds, the company doled out more than $165 million in bonuses.
An estimated 10,000 Argentines marched on the historic Plaza de Mayo in the capital, Buenos Aires, on Wednesday to demand more anti-crime measures, reflecting a top priority among Argentines, according to recent polls.
Ask an Administration official what to expect legislatively this year and the answer will probably fall along these lines: reregulation of the financial markets, followed by the budget, health care and then green jobs. It is a massive agenda for President Barack Obama’s first year in office, and already some in the environmental community are worried that their agenda will be sacrificed.
President Obama said Wednesday that no one in his administration had been responsible for supervising ailing insurance giant AIG but that ultimately, the buck stops with him. “Nobody here drafted those contracts; nobody here was responsible for supervising AIG and allowing themselves to put the economy at risk by some of the outrageous behavior that they were engaged in,” he said outside the White House. “[But] we are responsible, though.
A bloody war between Mexican drug cartels is no longer solely a south-of-the-border problem, members of Congress said Tuesday at a hearing on the issue. The violence accompanying those battles has crept into the United States, and is believed to largely be fueled by money and guns pouring over the border from America, said Sen. Dick Durbin, D-Illinois.
Sen. Christopher Dodd on Monday suggested a tax provision to recoup the bonuses for executives of ailing insurance giant AIG.
Last fall, soon after congress decided it would spend $700 billion to shore up the nation’s flailing financial system, about 100 shareholders of Reunion Bank of Florida gathered for a party. Over crab fondue and London broil, they toasted the start of their spanking new bank
A congressional investigation has exposed gaping holes in security eight years after the September 11 terrorist attacks, a government report says. An investigator used a false identification to obtain a U.S. passport and then used the passport to get an airline boarding pass and go through an airport security checkpoint, according to the Government Accountability Office
The Internal Revenue System is bracing for a deluge of amended tax returns from tens of thousands of victims caught up in the recent wave of multi-billion dollar Ponzis and other frauds, most notably the sensational swindle perpetrated by Bernie Madoff, and R.