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Although he is the first U.S. President to have lived in the Muslim world and to have Muslim relatives and a Muslim middle name, Obama is likely to face skepticism even among those who welcomed his election. In an open letter on the day of his Inauguration, the 57-nation Organization of the Islamic Conference appealed for a "new partnership" with the Obama Administration. "Throughout the globe, Muslims hunger for a new era of peace, concordance and tranquility," wrote Ekmeleddin Ihsanoglu, secretary-general of the conference. He then pointedly added, "We firmly believe that America, with your guidance, can help...
...John Moody became the first financial analyst to assign letter grades to railroad bonds, giving investors an easier way to evaluate the rail companies' debt. It was the beginning of one of the most powerful forces in modern capitalism. Today a small club of bond-rating agencies, led by Moody's, Standard & Poor's and Fitch, wields enormous power, sending investors scrambling simply by changing the ratings that the firms assign to everything from Ireland's sovereign debt to General Electric's IOUs. They are pilloried for having wildly overestimated the quality of mortgage-related securities...
...fled the state, changed her name, and lived a leisurely life of lies and deception in Minnesota, while the children of Myrna Opsahl were forced to grow up without a mother." -Jeff Denham, a California state senator, in a letter to Arnold Schwarzenegger, California's governor, that requested Olson not be permitted to return to her adopted state for parole. (AP, March...
...word of the day was well established by Tuesday evening, when Treasury Secretary Timothy Geithner wrote a letter to Senate majority leader Harry Reid. "I know," began the embattled Geithner, "that there is considerable outrage in the Senate, as there is throughout the country, about the bonuses." Indeed, outrage was the theme of politician, pundit and President of the United States at each new revelation about the bonuses paid out of federal bailout money to AIG executives. There was so much outrage, in fact, that furious red overtook St. Patrick's green as the color...
Since it will take time to get at AIG and those taxpayer dollars turned bonuses, the most immediate target of outrage (next to Liddy, who's due for a tongue-lashing in congressional testimony on Wednesday) may have to be Geithner. In his letter to Reid, Geithner said the Administration was still looking for legal ways to get the money back (as Obama has loudly demanded). He reiterated his own outrage when he confronted Liddy about the bonuses and declared that the government would force AIG to repay the Treasury from the operations of the company, in addition to deducting...