As markets convulsed in September 2008, Morgan Stanley (MS) Treasurer David Wong briefed the Federal Reserve on a “dark” scenario in which the U.S. firm would need at least $10 billion of emergency loans from the central bank.
It got 10 times darker by month’s end. Morgan Stanley borrowed $107.3 billion, the most of any bank, according to data compiled by Bloomberg News using information released in response to Freedom of Information Act requests, related court orders and an act of Congress.
Morgan Stanley at Brink of Collapse Got $107B From Fed
FCC officially kills Fairness Doctrine, wiping it from rules
Federal Communications Commission Chairman Julius Genachowski announced the elimination of 83 outdated and obsolete agency rules on Monday, including the controversial Fairness Doctrine.
“The elimination of the obsolete Fairness Doctrine regulations will remove an unnecessary distraction. As I have said, striking this from our books ensures there can be no mistake that what has long been a dead letter remains dead," Genachowski said in a statement.
Pipeline protesters stage Day 3 of W.H. sit-in
Chanting “Yes we can,” about 65 protesters held a third consecutive day of sit-in protests in front of the White House on Monday morning, calling for the Obama administration to block approval of the Keystone XL oil pipeline from Canada.
The demonstration lasted 19 minutes before the U.S. Park Police issued a final dispersal order and began making arrests just before 11:30 a.m. Seven protesters left before being arrested. Meanwhile, 65 more demonstrators arrested Saturday prepared to be released from jail Monday afternoon.
American Islamic leader struggles to put 'terrorist' raids behind him
More than nine years ago, federal agents looking for evidence of terrorism financing hustled Unus, the institute’s director of administration, and his colleagues into this very library. They were kept there for hours while computers and boxes of documents were carted out.
At almost the same time, 14 agents and police officers broke through the front door of Unus’s house with a battering ram and handcuffed his wife and daughter — a raid that sparked an unsuccessful civil rights lawsuit that the Unuses pursued all the way to the Supreme Court.
BBC admits role in 1953 Iranian coup
The BBC Persian TV channel has at last acknowledged the role of the BBC Persian radio in the toppling of the democratically elected government of Iran in the 1953 coup.
The coup overthrew the government of the then Iranian Prime Minister Mohammad Mosaddegh leading to the restoration of absolute monarchy under dictator Mohammad-Reza Pahlavi who was later toppled in the Islamic Revolution in 1979.
In a documentary aired on August 18 on the anniversary of the coup, BBC Persian channel admitted for the first time to the role of the BBC Persian radio as the propaganda arm of the British government in Iran.
Rick Perry accused of hypocrisy as he comes under fire for investment in America's largest pornography distributor
Leading Republican contender and prominent Christian candidate Rick Perry has been accused of hypocrisy after it was revealed that he invested thousands of dollars in the country's largest pornography distributor.
Just a week after he launched his presidential campaign, the Texas governor has come under fire for his investment in Movie Gallery, a company that rented pornographic movies.
Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans
Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.
By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.
Mother Jones:Terrorists for the FBI - The Informants
Ever since 9/11, counterterrorism has been the FBI's No. 1 priority, consuming the lion's share of its budget—$3.3 billion, compared to $2.6 billion for organized crime—and much of the attention of field agents and a massive, nationwide network of informants.
After years of emphasizing informant recruiting as a key task for its agents, the bureau now maintains a roster of 15,000 spies—many of them tasked, as Hussain was, with infiltrating Muslim communities in the United States. In addition, for every informant officially listed in the bureau's records, there are as many as three unofficial ones, according to one former high-level FBI official, known in bureau parlance as "hip pockets."
Life on Mars? Fossil find shows it's possible
Scientists have found Earth's oldest fossils in Australia and say their microscopic discovery is convincing evidence that cells and bacteria were able to thrive in an oxygen-free world more than 3.4 billion years ago.
The finding suggests early life was sulphur-based -- living off and metabolizing sulphur rather than oxygen for energy -- and supports the idea that similar life forms could exist on other planets where oxygen levels are low or non-existent.
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