It appears that someone is going down. We just don’t know who. Now, before conservatives start yelling that this investigation is “proof” that the Obama administration is hostile to Big Business, this investigation was started three years ago. Get out your calculators. That was during the Bush administration.
The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.
The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.
One focus of the criminal investigation is examining whether nonpublic information was passed along by independent analysts and consultants who work for companies that provide “expert network” services to hedge funds and mutual funds. These companies set up meetings and calls with current and former managers from hundreds of companies for traders seeking an investing edge. (more…)
A friend of mine is somehow convinced that Bill O’Reilly is a moderate voice of reason. So, in order to convince this friend that O’Reilly is a name-calling “loon,” I am going to post some things over the next several days on Bill O’Reilly. With luck, my friend will see the light.
Last month, torture advocate Bill O’Reilly launched a “boycott” of Spain after Spanish prosecutors were considering a probe of Bush administration officials who gave legal cover for torture. “There will be a boycott and there will be ill will towards Spain. This is going to become a huge story and it’s not going to be good for Spain,” he claimed.
Spanish prosecutors have now recommended throwing out the criminal complaint. The news elicited a declaration of mission accomplished from O’Reilly last night. Discussing the investigations with Megyn Kelly, O’Reilly explained the economics behind how his boycott brought down the probe:
O’REILLY: Now, I don’t know whether “The Factor” was a Factor in this decision, but I am taking full credit for it.
O’REILLY: You bet. Because Spain, according to The Economist magazine, is pushing 19 percent unemployment. We were going to boycott Spain. That means millions of Americans would have at least been exposed to the idea. And they folded pretty darn fast. We started this last week. Today no mas. … Well, we’re taking full credit for that, ladies and gentlemen, whether deserved or not.
Kelly seemed skeptical but still played along. “There is some travel from American citizens. It would have hurt a little. Maybe that played a role in it. I don’t know,” she said. Watch it:
— O’Reilly brought down the Seattle Post-Intelligencer: Seattle’s “nutty-left newspaper” went under after O’Reilly’s staff ambushed publisher Roger Oglesby.
– O’Reilly lowered gas prices: After oil execs supposedly artificially raised oil prices after Katrina, O’Reilly said they “got scared. Because of my reporting and the reporting of some others.”
– O’Reilly brought down O.J.: Responding to the cancellation of Fox’s interview with O.J. Simpson, O’Reilly said, “It’s a culture-war victory. The folks did it; and I am the messenger.”
It is surprising that O’Reilly is so heavily promoting his “boycott” of Spain. When ThinkProgress launched campaign urging O’Reilly’s advertisers stop supporting his show, O’Reilly said on March 27 that our tactics were “Stalinist” and “certainly not Democratic.”
O’Reilly may be declaring victory too early. Reuters reports that Judge Garzon of Spain “is def[ying] pressure to drop the case.”
I found this article on my computer. I wrote this article back in May of 2007. Hope that you enjoy it.
Just because something is complex does not mean it’s not understandable. The US Attorney scandal is confusing. The question is, what’s going on? Well, in order to figure out everything that’s going on there must be investigations. Some folks on Capitol Hill are calling the current investigations a witch hunt and “political theater.”
Question B if a policeman sees someone walking down the street with a large plasma TV should he be curious? So he asks the guy, “What are you doing with that TV?” He replies, “I’m fixing it for Ms. Smith.” “Ms. Smith? There’s no Ms. Smith that lives on this street.” “Did I say fixing it? I meant delivering it to Mr. Jones.” I think that everyone would assume that this situation deserves further investigation.
The same type of thing has happened with the Justice Department. Eight US attorneys were fired out of the blue. All of these attorneys were Republicans. The initial explanation was that they were fired for performance reasons. Several reporters were able to obtain performance evaluations on several of these attorneys and they were excellent. The next explanation was that some of the attorneys did not prosecute enough immigration cases. This explanation did not hold up to investigation either. Finally, Alberto Gonzales, the US Attorney General, stated that these US attorneys serve at the pleasure of the president. Therefore, the president can fire them at any time for any reason. Well, this is sort of true. It is true that the president has the power to hire and fire US attorneys. But, and this is important, the President cannot fire at a US attorney to influence a particular case or to halt a particular investigation or for political reasons.Continue reading US Attorney's – We need to investigate→