I'm not exactly sure how to interpret this, but check out this paragraph from a BBC report on Tim Geithner's speech at Beijing University today:
In a speech at Beijing University at the start of his two-day visit, Mr Geithner reassured his Chinese hosts that they need not worry about the estimated $770bn (
After Sen. Judd Gregg (R-N.H.) cited the census as a reason for withdrawing as Commerce secretary nominee, House Oversight and Government Reform Ranking Member Darrel Issa's (R-Calif.) office today said the controversy over the census is "just beginning."
Fox News host Bill O'Reilly, in an interview last night on "The O'Reilly Factor," offered former White House adviser Karl Rove a place to hide from House Judiciary Committee Chairman John Conyers's (D-Mich.) subpoena.
"Now Mr. Rove, if you need a place to hide out, we have it here at 'The Factor.' We have all kinds of tunnels and places we can put you," O'Reilly said.
"I don't need to hide," Rove replied.
"Okay," O'Reilly agreed.
Rove then repeated himself: "I don't need to hide."
Conyers this week reissued his subpoena for Rove to appear before the committee, seeking the former adviser's testimony on the firing of several U.S. attorneys during President Bush's administration. The firings led to allegations of a politicized Department of Justice and, ultimately, the end of former Attorney General Alberto Gonzales's tenure as head of the department.
Rove has denied the subpoena, citing executive privilege supported by President Bush. He also faces an ongoing lawsuit, brought by the committee, which seeks to compel him to appear.
Lawyers from the Bush White House again counseled Rove not to appear earlier this month.
Rove also said he does not consider himself a "witch," after O'Reilly suggested Conyers's investigation amounts to a "witch hunt."
"I don't know if I'd call it a witch hunt," Rove said. "I don't think of myself a witch."
"He's sort of like Captain Ahab, and I'm the whale," Rove suggested instead.
See a video of the interview below. Skip ahead to the 3:25 mark to see the discussion of Conyers's subpoena.
Sen. Charles Grassley (R-Iowa) today asked the inspector general of the Securities and Exchange Commission (SEC) for regular updates on his review of the SEC's handling of complaints against alleged financier/Ponzi schemer Bernard Madoff.
SEC Chairman Chris Cox today vowed to investigate how the commission handled complaints against Madoff, saying credible information on Madoff had been brought to the SEC on multiple occasions but no formal investigation had been opened.
Grassley sent the following letter today to SEC Inspector General David Kotz, who has been tasked with looking into the SEC's handling of allegations against Madoff:
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President-elect Barack Obama, as he outlined his budget philosophy and announced his new Office of Management and Budged chief, cited thousands of potentially improper farm payments doled out by the U.S. Department of Agriculture since 2003.
Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) told Attorney General Michael Mukasey today that he wants answers--roughly 300 of them.
Leahy today sent a letter to Mukasey protesting that Department of Justice (DoJ) employees--including Mukasey himself--have failed to answer over 300 of the committee's written questions submitted to DoJ employees after they testified at committee hearings examining the department.
Leahy said he wants responses to all outstanding, unanswered questions sent to the committee before the 110th Congress adjourns. That includes answers from Mukasey to questions posed after a July 9 oversight hearing.
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The Government Accountability Office (GAO) today published a list of 13 "urgent issues" facing President-elect Barack Obama and the Democratic Congress during Obama's transition into the White House and his first year in office.
The GAO also launched a transition website aimed at making Obama's transition "an informed and smooth one across the federal government." The site lists agency-by-agency issues, money-saving opportunities, management challenges, and a long-term fiscal outlook for the federal government.
The "urgent issues" published today are as follows:
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Rep. Dennis Kucinich is calling for Congress to investigate whether banks are using the federal government's bailout money for fat bonuses.
The Treasury Department is planning to put $250 billion in equity into banks struggling in the financial crisis. Kucinich wants compensation data going back to 2003 from at least 11 banks participating in the program and for each employee making more than $500,000 annually.
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