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WASHINGTON -- The pitched drama over bonuses for bailed-out executives will be revived on Capitol Hill Wednesday as a government watchdog explains how some executives nearly brought down the financial system -- then pocketed millions.

Neil Barofsky, the special inspector general for the $700 billion financial rescue program, will answer questions about a new report outlining the official missteps that led to massive bonus payments for executives at insurer American International Group Inc.

In a report released Tuesday, Barofsky wrote that the Treasury Department did not understand AIG's byzantine pay structures when it gave the firm billions in aid last fall. The government has committed a total of more than $180 billion to wind down the New York-based insurance and financial services conglomerate, and now owns about 80 percent of the company.

AIG's bonuses sparked a political firestorm earlier this year when it was revealed that the government could not legally ... Read more »

Category: U.S. | Views: 1615 | Added by: magictr | Date: 14.10.2009 | Comments (1)

The battle over health care reform has only just begun. 

After an overhaul package that was months in the making cleared a major hurdle Tuesday, Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi now must grapple with stiff Republican opposition and warring factions among Democrats as they try to bring an acceptable bill to the floor. 

The Senate Finance Committee voted 14-9 to send its version of reform legislation to the Senate floor, becoming the last of five panels to act on legislation and marking the biggest advance so far toward health care reform. 

But President Obama previewed the tough road ahead, even as he hailed the vote as a "critical milestone" late Tuesday and pledged to "get this done." 

"We have a lot of difficult work ahead of us. There's still significant details and disagreements to be worked ou ... Read more »

Category: U.S. | Views: 1145 | Added by: magictr | Date: 14.10.2009 | Comments (0)

The report issued by the Federal Service for Environmental, Technological and Atomic Inspection on the cause of the Sayano-Shushenskaya hydroelectric plant accident is chock full of senseless data designed to divert attention away from the core issues. In plain English, the report’s findings read as follows:

Following repairs, an unbalanced GA-2 turbine unit was labeled as “satisfactory” and installed at the plant in March. The GA-2 unit reached the maximum allowable level of vibration from the moment it began operation, with the vibrations increasing fourfold by August. For this reason, an effort was made not to use the GA-2 unit at all. But a fire at the Bratsk hydroelectric plant on the evening of Aug. 16 prompted dispatchers to increase demand on the Sayano-Shushenskaya facility.

The GA-2 unit was brought on line at 11:05 p.m. and operated for exactly nine hours and nine minutes before the disaster occurred. During those hours, the GA-2 lost power three times ... Read more »

Category: World | Views: 1386 | Added by: magictr | Date: 14.10.2009 | Comments (1)

An Omsk region police officer shot dead his girlfriend and a taxi driver before turning his service pistol on himself, raising new concerns about the psychological fitness of the country’s police force after a Moscow policeman went on a shooting spree in April.

Alexander Mets, 21, a police lieutenant from the town of Nazyvayevsk, located 150 kilometers northwest of the city of Omsk, is suspected of acting out of jealousy when he killed his 21-year-old girlfriend on Monday afternoon in Omsk, the Investigative Committee said in a statement Tuesday.

Mets had a spotless service record before the shootings, Omsk region police said in a statement.

Mets left work in Nazyvayevsk without permission at about 5 p.m. Monday, taking his service Makarov pistol and 16 bullets, the Investigative Committee said. He departed to Omsk in a gypsy taxi car driven by an acquaintance, a 33-year-old resident of Nazyvayevsk, it said.

Mets met his girl ... Read more »

Category: World | Views: 2166 | Added by: magictr | Date: 14.10.2009 | Comments (0)

There are three surnames of the lawmakers of the Verkhovna Rada in the case corruption of minors in “Artek”.

Lawmaker from the BYUT Grygoriy Omelchenko, who made addresses because of the corruption of minors in “Artek”, said this to “Ukrainska Pravda ”.

“There are surnames of three lawmakers. I made requests on September 7 and September 12. The last one was with new evidences, there were three surnames of the lawmakers and a priest”, he said.

He also said that the psychological examination was carried out and testimonies of children were checked at a polygraph detector. “Experts recognized that children tell truth concerning conditions of the crime against them”, said G. Omelchenko.

“The forensic medical examination was carried out and it showed that children have been raped during three years” ... Read more »

Category: Ukraine | Views: 1209 | Added by: magictr | Date: 14.10.2009 | Comments (0)

Artist Tony Matelli is on show for the second year running in Moscow at the Gary Tatintsian Gallery with his exhibition “The Idiot.”

Those who remember the previous installation, “Survival,” may be disappointed. Most people remember “Survival” for “Old Enemy, New Victim,” a sculpture that consisted of two skinny monkeys attacking a much larger variety of their kind in what looked like a fight to the death.

“In ‘Survival,’ every item was shocking. Now visitors look at the installation and wonder where the exhibition is. They ask if it was called off,” gallery director Victoria Pukemova said.

Looking around “The Idiot,” you could think it was just a couple of boxes, a small flame and some plants.

Matelli is known for his attention to details. A sculpture of a topless women that stood in the Tatintsian gallery has fooled many a visitor into thinking it ... Read more »

Category: World | Views: 1611 | Added by: magictr | Date: 14.10.2009 | Comments (0)

JERUSALEM —  The Palestinian president's political party says all hopes in the Obama administration have "evaporated," accusing the White House of caving in to pressure from the pro-Israel lobby and backing off a demand to freeze Jewish settlement.

Mahmoud Abbas' Fatah Party also accused the U.S. of failing to set a clear agenda for a new round of Mideast peace talks, according to an internal memo obtained by The Associated Press on Tuesday.

"All hopes placed in the new U.S. administration and President Obama have evaporated," the document said. Obama "couldn't withstand the pressure of the Zionist lobby, which led to a retreat from his previous positions on halting settlement construction and defining an agenda for the negotiations and peace."

The Palestinians initially greeted Obam ... Read more »

Category: World | Views: 1356 | Added by: magictr | Date: 14.10.2009 | Comments (0)

President of Ukraine Victor Yushchenko by his Decree №827/2009 dismissed Andriy Kislinskiy from the post of the deputy chairman of the Security Service of Ukraine (SBU).

The text of the decree is posted at the official web site of the head of the state.

Category: Ukraine | Views: 1207 | Added by: magictr | Date: 14.10.2009 | Comments (0)

A Delaware first-grader who was facing 45 days in an alternative school as punishment for taking his favorite camping utensil to school can return to class after the school board made a hasty change granting him a reprieve.

The seven-member Christina School Board voted unanimously Tuesday to reduce the punishment for kindergartners and first-graders who take weapons to school or commit violent offenses to a suspension ranging from three to five days.

Zachary Christie, 6, had faced 45 days in an alternative school for troublemakers after he took the utensil — a combination folding knife, fork and spoon — to school to eat lunch last month. Now, he could return Wednesday.

"I want to get him back as soon as possible. I want to put this behind him as soon as possible," said Debbie Christie, Zachary's mother. "But I also want him ... Read more »

Category: U.S. | Views: 4982 | Added by: magictr | Date: 14.10.2009 | Comments (1)

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