Word: bidders
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What a difference a credit crunch can make. In the past year, the FDIC has become the most active dealmaker in the banking industry, taking over 25 banks in 2008, up from just three the year before, and auctioning them off to the highest bidder. Its chairwoman, Sheila Bair, who was early in warning about rising foreclosures, has become a key policymaker in helping resolve the nation's financial crisis. At her urging, Congress in October upped the limit on FDIC insurance, albeit temporarily, to $250,000 from $100,000. The agency is staffing up too, and plans to hire...
...entire prosecution crew because of a purported violation of a pretrial publicity order. ("Meritless," said the prosecutors.) Genson has also loudly pushed his claim that the government's case is much ado about nothing. Sure, the governor was heard talking of selling Obama's seat to the highest bidder, talking of getting Chicago Tribune editorialists fired for being too harsh on his administration and talking about trying to put the squeeze on a children's hospital and on the Tribune, which was looking to sell the Cubs with state help. But does mere talk constitute a crime? "Genson can argue...
...endure a challenge as politically daunting as now, after appointing a 21-member panel to start impeachment proceedings against Governor Rod Blagojevich, who earlier this month was accused of various corrupt acts, most notably trying to sell President-elect Barack Obama's vacant Senate seat to the highest bidder...
Almost from the moment that federal prosecutors charged Blagojevich with scheming to sell President-elect Barack Obama's vacant Senate seat to the highest bidder, a diverse coalition of local, state and national politicians has called on him to step down. The state legislature on Monday took the first steps to start impeachment proceedings, and state attorney general Lisa Madigan has appealed to the Illinois Supreme Court to invoke an obscure law to declare Blagojevich unfit (at least temporarily) for office. Over the weekend, there were media reports that Blagojevich could resign as early as Monday. But late Sunday...
...politician, of course, would want to put lots of space between himself and a toxic scandal like this one, in which the sitting governor stands accused of trying to sell President-elect Barack Obama's vacant Senate seat to the highest bidder. Daley, though, has a special interest in trying to draw such a sharp line: not only has his own administration been dogged by patronage scandals and federal investigations, but John Harris, the governor's co-defendant and chief of staff, was once one of Daley's top lieutenants at City Hall. (See the top 10 scandals...