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...Howard Elisofan, a partner at Herrick, Feinstein LLP and a former SEC enforcement attorney, launched a legal action against the SEC on behalf of a victim, Phyllis Molchatsky, last December. He has since filed eight similar complaints. "We're arguing that the SEC was negligent on multiple occasions for many reasons over multiple years, and had they detected the fraud a long time ago, thousands of people would not have been so gravely injured," he said...

Author: /time Magazine | Title: After Its Madoff Report, Can Victims Sue the SEC? | 9/3/2009 | See Source »

...responsibility for tough decisions. It has been widely observed that Obama overlearned the lesson of the Clinton health-care effort by deferring to Congress to write the legislation. It has been less widely observed that the President overlearned the lesson of Bush's hyperpoliticized Justice Department by leaving to Attorney General Eric Holder the decision about whether to investigate the CIA for torture abuses...

Author: /time Magazine | Title: Rookie Mistakes: Time for Obama to Lead | 9/3/2009 | See Source »

...deferral of responsibility for the CIA investigation is more serious than his health-care meanderings. This is a matter of national security that will directly affect the morale and behavior of our clandestine services. The President can't say he wants to look forward, not backward, then allow his Attorney General to look backward. The most egregious practices, like waterboarding, were (outrageously) declared legal by the Bush Justice Department. How can you prosecute one interrogator for threatening a prisoner with an electric drill and let others who waterboarded a prisoner 83 times off the hook? Is it right...

Author: /time Magazine | Title: Rookie Mistakes: Time for Obama to Lead | 9/3/2009 | See Source »

Margaret T. Burns, spokeswoman for the Baltimore City State's Attorney's Office, says viewing incidents like the one at the cookout as just gang violence is an easy way to package and discard the trouble. "It's so easy to calm everyone down and say these are two feuding gangs," she says. "Calling it a gang is a response that calms public fears but may not be necessarily accurate...

Author: /time Magazine | Title: Experts: Street Crime Too Often Blamed on Gangs | 9/2/2009 | See Source »

...withholds consent for Washington's "government-to-government" correspondence to be made public but reiterates "the United States Government's consistent and long-standing view that Mr. Megrahi should serve out his prison sentence in Scotland and the opposition of the United States to his transfer to Libya." U.S. Attorney General Eric Holder made a grave and measured statement after al-Megrahi's release. "The interests of justice have not been served by this decision," he said. It seems probable that he expressed that view more trenchantly in a phone call to Scottish ministers; Washington has refused to release...

Author: /time Magazine | Title: Documents Reveal British Role in Lockerbie Bomber's Release | 9/2/2009 | See Source »

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