Anderson@Large (Free subscription) | 11/20/2009
The job-counters at Recovery.gov need help. The Government Accountability Office reports the stimulus jobs numbers don’t add up. Concerns about the accuracy of the data is not a “side issue.” The issue is accountability. In his opening statement before the House Committee on Oversight and Government Reform hearing, Chairman Edolphus Towns said: I am gravely concerned that the unemployment...
ReadWriteWeb (Free subscription) | 11/20/2009
In the wake of a leak of an international trade agreement on online file-sharing and copyright violation , U.S. House representatives are introducing legislation to curtail the greatest of American freedoms: the illegal download. Let's not kid ourselves, dear readers. P2P's best use cases all revolve around the liberation of data, software, music, movies, and other copyrighted and rather expensive...
Switched (Free subscription) | 11/19/2009
Highlights from this morning's other big tech headlines.... Apple still hasn't officially commented on its rumored development of a Tablet e-reader, but that silence hasn't stopped other professionals from spilling. The Executive Editor of the New York Times already revealed knowledge of the gadget's existence , and Conde Nast, publisher of magazines like GQ and Wired, has now claimed that it will...
Ars Technica (Free subscription) | 11/18/2009
Peer-to-peer filesharing applications have been wildly popular, especially among those interested in accessing pirated software, music, and media. But not everyone who operates a P2P client knows how to properly configure the software, and some clients may share entire directories unless explicitly directed not to. Apparently, some government employees have exhibited this sort of carelessness, as...
Security Fix (Free subscription) | 11/18/2009
The chairman of the House Oversight and Government Reform Committee introduced legislation on Tuesday to prohibit the use of peer-to-peer (P2P) file-sharing software across all federal government computers and networks. The "Secure Federal File Sharing Act" would direct the White House's Office of Management and Budget to issue guidelines barring the use and/or installation of P2P software...
The Business Insider (Free subscription) | 11/18/2009
Bank of America's general counsel was fired on December 10, just a day after he had requested a meeting with higher-ups to discuss Merrill Lynch's growing projected losses. The reason he was fired? Corporate "downsizing," said three BofA officials to a congressional panel yesterday. The U.S. House Committee on Oversight and Government Reform is looking into BofA's purchase of Merrill, as...
The Washington Times (Free subscription) | 11/18/2009
A senior House Democrat denied that the government forced Bank of America to go through with a takeover of Merrill Lynch, despite past comments to the contrary from the bank's former top executive. House Oversight and Government Reform Committee Chairman Edolphus Towns, during a Tuesday hearing of his panel, said that evidence and testimony by Bank of America officials show that "nobody in the...
The Huffington Post (Free subscription) | 11/17/2009
WASHINGTON — A senior House Democrat says the government didn't force Bank of America to take over Merrill Lynch, but a bank board member said much pressure was applied and Republicans charged that a committee inquiry was covering up the role of an Obama administration official. "The government pushed us hard to do this deal," Bank of America director Charles "Chad" Gifford...
Say Anything (Free subscription) | 11/09/2009
Given their plunging circulation numbers, you’d think a major scandal (and the subsequent efforts to bury it) would be premium fodder for North Dakota’s newspapers. But it’s not. You aren’t likely to read anything like this editorial bemoaning the obstacles thrown in front of efforts to fully investigate the Countrywide scandal on any editorial page in North Dakota. Because...
Political Ticker (Free subscription) | 11/06/2009
New York Rep. Eliot Engel shows some home town pride. Washington (CNN) – New York Democratic congressman took to the House floor Friday morning to congratulate the New York Yankees for winning the World Series. But the discourse quickly turned to partisan attacks. Democrat Reps. Eliot Engel and Edolphus Towns began the accolades. Engle, who lives in [...]
Medical News Today (Free subscription) | 11/06/2009
Government Executive.com: "Sixteen Republican representatives wrote to Oversight and Government Reform Committee Chairman Edolphus Towns, D-N.Y., to demand that he schedule hearings on reform proposals' potential impact on the Federal Employees Health Benefits Program.
DealBreaker (Free subscription) | 11/04/2009
BofA's Legal Counsel Had No Legal Authority In Merrill Deal (NYP) Brian Moynihan was named general counsel on Dec. 10, 2008, but was not technically allowed to offer crucial legal advice until more than a week later, when he re-activated his status with the Massachusetts Bar Association. Oops! "This is another fact that leads me to believe there could be something rotten in the cotton,"...
The Nation: Editor's Cut (Free subscription) | 10/28/2009
In a press release last week, Chairman Edolphus Towns of the House Committee for Oversight and Government Reform announced a major investigation "into whether mortgage companies employed deceptive and predatory lending practices, or improper tactics to thwart regulation, and the impact of those activities on the current crisis." This investigation is much needed, and frankly, overdue, as...
Click here to see all comments
Banks and Mortgage Companies aren't the only ones
I am glad to see this investigation and I hope they also go after everyone who partook in deceptive practices to lure buyers in and feed personal greed...
New York Post (Free subscription) | 10/27/2009
A Brooklyn lawmaker last week issued a subpoena seeking information on a mortgage company that had given him two mortgages and allegedly contributed to last year’s sub-prime financial meltdown.Rep. Edolphus Towns, who chairs the House Committee on Ov...
The Huffington Post (Free subscription) | 10/27/2009
The American people were justifiably outraged when they learned earlier this year that American International Group (AIG) would pay $165 million in bonuses to executives...
Videos