Government

Credit Default Swaps Grab Attention of Prosecutors and the SEC Chairman

State and federal prosecutors in New York are investigating whether traders manipulated the market for credit default swaps, a kind of securitized insurance that protects against defaults on corporate bonds. The joint investigation by U.S. Attorney Michael Garcia of Manhattan and New York Attorney General Andrew Cuomo focuses on whether…

Oct 20, 2008 6:33 PM CDT

DOJ Memo: White House May Ignore Laws Barring Hiring Bias in US Programs

A 2007 Justice Department memorandum maintains the Bush administration has the power to give money to groups that hire persons of only one faith, even for federal programs created under laws barring discrimination. The New York Times says the memorandum by the Office of Legal Counsel was “quietly posted” on…

Oct 20, 2008 5:19 PM CDT

Simpson Thacher Charging Only $300K to Advise Treasury on Bailout

Simpson Thacher will collect only $300,000 over the next six months for advising the Treasury Department on its bailout of financial institutions, a total based on slashed legal fees. The American Lawyer puts the average hourly rate charged by the firm at $79 an hour when legal assistants are included…

Oct 20, 2008 11:05 AM CDT

1st Circuit: Gov’t Must Pay $3.1M to Family of Man Slain By FBI Agent’s Informants

A federal appeals court yesterday upheld a $3.1 million award against the U.S. government to the family of a Quincy, Mass., fisherman killed in 1984 by leaders of the Winter Hill gang in Boston, after a rogue FBI agent leaked information to them. The Boston-based 1st U.S. Circuit Court of…

Oct 18, 2008 2:41 AM CDT

Deaf Patient to Get Record $400K from N.J. Doc Who Didn’t Provide Interpreter

Not providing the sign language interpreter requested by a deaf patient has cost a New Jersey doctor a $400,000 jury award. And it may cost Jersey City rheumatologist Robert Fogari personally, since his malpractice carrier has denied coverage, as well as a defense, reports the New Jersey Law Journal. The…

Oct 17, 2008 9:15 PM CDT

Reversing Course, Illinois Sheriff Will Evict Residents of Foreclosures

After making media waves throughout the country with an unusual refusal to enforce court eviction orders in mortgage foreclosure cases last week, the sheriff of Cook County, Illinois, has backed down. Assured that new procedures would be implemented to protect innocent tenants from being evicted because their landlord hadn’t paid…

Oct 16, 2008 10:57 PM CDT

Recover Executive Perks, or Else, NY’s AG Tells Insurance Giant AIG

In an effort that could serve as a blueprint to others seeking to hold executives of failed corporations financially responsible, the attorney general of New York has sent a letter to insurance giant AIG. In it, Attorney General Andrew Cuomo says the company must recover millions of dollars in “unreasonable”…

Oct 15, 2008 7:22 PM CDT

Federal Juror Names No Longer Secret in Western District of Pennsylvania

A rule that required the names of federal jurors to be kept secret in the Western District of Pennsylvania has been revoked by the chief judge there. The move by U.S. District Judge Donetta Ambrose followed a media protest over a decision by another judge there to keep juror names…

Oct 14, 2008 11:14 PM CDT

N.Y. Gov Signs New Pension Law to Rein In Renegade Gov’t Legal Advisers

By early next year, New York lawyers who erroneously wind up in the state’s pension plan could face hefty penalties. A new law signed Friday by Gov. David Patterson makes pension fraud a felony, rather than a misdemeanor; allows criminal punishment of those who “improperly” receive pension benefits; and gives…

Oct 13, 2008 10:59 PM CDT

Alaska Lawmakers Release ‘Troopergate’ Report Criticizing Gov. Sarah Palin

After meeting in closed session for much of the day, an Alaska legislative committee released an investigative report concluding that Gov. Sarah Palin abused her power by trying to get her former brother-in-law fired from his job as a state trooper. The report states that “Gov. Palin knowingly permitted a…

Oct 11, 2008 1:50 AM CDT

Fla. School Board Lawyer May Get Nearly a Year of Paid Vacation

A Florida attorney who has contracted to provide legal services for the Miami-Dade School Board has already spent four months at home on unpaid leave. But now a divided board is hoping to give JulieAnn Rico another six months’ pay in a severance package that will conclude her contract, reports…

Oct 10, 2008 10:35 PM CDT

Big Brother’s View Expands in UK

George Orwell was right, at least as far as residents in metropolitan areas of the United Kingdom are concerned: Big Brother is watching. Surveillance cameras are seeking not only to spot terrorists but to see whether dog-walkers are properly picking up after their pets, reports Bloomberg. A London Times article…

Oct 10, 2008 6:26 PM CDT

We Won’t Evict Unless You Do Your Job, Illinois Sheriff Tells Lenders

In an unusual act of rebellion against an apparent defect in a number of foreclosure cases, the sheriff of Cook County has made national headlines this week by saying his officers wouldn’t enforce court orders and evict occupants of foreclosed homes in and around Chicago until lenders could prove that…

Oct 10, 2008 4:42 PM CDT

Top Alaska Court Allows Sarah Palin Probe to Proceed; Report Expected Tomorrow

The Alaska Supreme Court refused today to call a halt to the “Troopergate” ethics investigation of Gov. Sarah Palin, the Republican nominee for vice president. That sets the stage for the state legislature to release tomorrow, as planned, its investigative report about whether Palin abused her power as governor by…

Oct 10, 2008 12:40 AM CDT

Lawsuits, Disciplinary Complaints Over Indiana Defendant’s Delayed Release

An Indiana judge is facing potential discipline after court commissioner under his supervision delayed the release of a convicted rapist apparently cleared by DNA evidence. Although former Master Commissioner Nancy Broyles held a hearing in March 2005 to consider DNA evidence in the case of Harold David Buntin, it wasn’t…

Oct 9, 2008 5:31 PM CDT