Recent Articles from Bloomberg News
The United States of Justice Kennedy
It’s Justice Anthony Kennedy’s country — the rest of us just live in it. Or so it sometimes feels when the U.S. Supreme Court’s most important and decisions come down from Mount Olympus, aka 1 First St., NE, where the justices preside in their white marble temple in Washington.
New steps in foreclosure investigations announced
The attorneys general of four states including Illinois and California announced new demands in their probes of foreclosure practices by banks and the mortgage-servicing industry. California Attorney General Kamala Harris said Wednesday that she has subpoenaed Lender Processing Services Inc. as part of her investigation into so-called “robo-signing,” the practice of signing documents for fo[...]
Whitney trips over muni default tale
It’s no wonder Meredith Whitney wants to distance herself from her prediction of the municipal market’s meltdown. “I never said that there would be hundreds of billions of defaults. It was never a precise estimate over a specific period of time.” So said banking analyst Whitney on Bloomberg Radio this week. This is what she said on an episode of CBS’s “60 Minutes” that aired on[...]
Loughner found incompetent for trial over shootings
Jared Lee Loughner, accused of killing six people and trying to assassinate a member of Congress in a Jan. 8 shooting spree in Tucson, Ariz., was ruled not competent to go on trial. U.S. District Judge Larry Burns issued his decision at a hearing Wednesday in federal court in Tucson. Loughner was examined by Bureau of Prison psychologists as well as by an independent, court-appointed expert, bo[...]
U.S. sues H&R Block to stop purchase of TaxAct Software
The U.S. Justice Department sued H&R Block Inc. to stop its proposed purchase of TaxAct, saying the combination of the companies would reduce competition in the growing market for consumer tax preparation software. “The combination of H&R Block and TaxAct would likely lead to millions of American taxpayers paying higher prices for digital do-it-yourself tax preparation products,” Ch[...]
Huntsman: The coolest in Republican race
The big news these days is who isn’t running for president. Without Mike Huckabee and Donald Trump, the Republican contest will be less colorful, of course, but also even more unsettled than it has been for the last few months. That leaves room for another Mormon governor and businessman.
Galleon’s Rajaratnam faces ‘uphill struggle’ on appeal
Galleon Group’s Raj Rajaratnam, potentially facing almost two decades in prison, will have an “uphill struggle” in seeking to overturn his conviction in the biggest insider-trading trial since the 1980s, a former prosecutor said. The hedge fund co-founder will appeal Wednesday’s verdict to the U.S. Court of Appeals in Manhattan, said his attorney, John Dowd. Dowd failed to persuade the [...]
President renews redlining crackdown
Community activists in St. Louis became concerned a couple of years ago that local banks weren’t offering credit to the city’s poor and African-American residents. So they formed a group called the St. Louis Equal Housing and Community Reinvestment Alliance and began writing complaint letters to federal regulators.
This feels like a turning point
Are we at a hinge of history? When I heard the news about Osama bin Laden and saw the cathartic outpouring of pride in this country, my mind went back not just to Sept. 11, but to a couple of other dates that mark the course of global events, pregnant with promise or peril.
Army Corps can breach levee to cut flood risk, judge says
The U.S. Army Corps of Engineers may intentionally burst a Mississippi River levee to flood central Missouri farmland in hopes of preventing floods in upriver towns, a federal judge ruled Friday.
Illinois tries to block Mo. request to stop flood plan
Illinois Attorney General Lisa Madgian sought Thursday to block Missouri’s request for a temporary restraining order that would prevent the U.S. Army Corps of Engineers from implementing its Birds Point-New Madrid Floodway Plan, according to an emailed statement. Madigan said stopping the Corps’ plan, which may flood 13,000 acres of farmland in Missouri, would threaten the 3,000 residents o[...]
MGA wins $88.4M award against Mattel
MGA Entertainment Inc.'s Bratz dolls. MGA Entertainment Inc. won an $88.4 million award against Mattel Inc. from a jury that ruled MGA didn’t steal the idea for Bratz dolls from the rival toymaker or infringe its copyright. Photo from MGA Entertainment Inc. via Bloomberg News.
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