Word: generalizes
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...while the report hammers the SEC for repeated instances of incompetence, it stops well short of declaring the SEC liable. "The OIG [Office of Inspector General] investigation did not find evidence that any SEC personnel who worked on an SEC examination or investigation of Bernard L. Madoff Investment Securities LLC had any financial or other inappropriate connection with Bernard Madoff or the Madoff family that influenced the conduct of their examination or investigatory work," the report notes. (See a Madoff family photo album...
...Overcoming the sovereign-immunity protection is the biggest hurdle, concurs David Bernfeld, a partner at Bernfeld Dematteo & Bernfeld LLC, who represents about a dozen Madoff victims. However, he believes the inspector general's report offers enough ammunition to prove negligence - which is the bullet needed to pierce the sovereign-immunity defense and make the SEC liable...
...However, Jim Rickards, a senior managing partner at Omnis Inc. and a former general counsel for Long Term Capital Management who helped negotiate a federal bailout for the failed hedge fund in 1998, isn't so sure the report's findings will be enough to make the SEC liable...
...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 the transcripts...
...refugee activists are skeptical about the resettlement proposal, which is voluntary and still has to be confirmed by E.U. governments. "It's a first step, but it is weak and we don't expect it to have a major impact on the refugee intake," says Bjarte Vandvik, Secretary General of the European Council on Refugees and Exiles, an alliance of NGOs. "It's only on a voluntary basis. We expect many countries will only increase their intake by a few dozen." (Read: "Drought and Famine: Ethiopia's Cycle Continues...