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...Following the deregulation of savings and loan associations (S&Ls) in the early 1980's, several of these banks began taking greater liberties with depositors' money, sinking it into risky real estate ventures and junk bonds in an effort to reap maximum profits. Fearful about the future of the vast amounts of federally-insured money being invested, the Federal Home Loan Bank Board (FHLBB) instituted a cap on the amount of money S&L's were allowed to place in such volatile instruments. An investigation into Lincoln Savings and Loan uncovered flagrant violations of these regulations, exceeding the limit...

Author: /time Magazine | Title: The Keating Five | 10/8/2008 | See Source »

Sarah Palin’s brief replies were similarly revealing. Her impressive verbal architecture ensured the maximum number of catchy phrases per minute; when there’s so much to say, who has time to conjugate verbs? And she did succeed in conveying her dedication (to buzzwords, if nothing else). When the moderator asked what each candidate considered to be his or her Achilles’ heel, Palin assured the audience of her “experience as an executive” and “connection to the heartland of America,” before conceding that...

Author: By Jessica A. Sequeira | Title: In a Nutshell | 10/6/2008 | See Source »

Case: Ashcroft, Former Attorney General v. Iqbal Hearing Date: Dec. 10 Background: Javaid Iqbal, a Pakistani man living and working in New York, was arrested on credit card fraud charges after the Sept. 11 attacks. While in custody in the maximum security section of Metropolitan Detention Center, Iqbal allegedly received "gross mistreatment." After being deported, he filed suit against the prison and FBI Director Robert Mueller and former Attorney General John Ashcroft, claiming multiple civil rights violations including that the officials "designed, or at least approved of, a policy of segregating Arab and Muslim detainees from the general prison population...

Author: /time Magazine | Title: The Supreme Court's 2008 Docket | 10/6/2008 | See Source »

...Many of their Republican counterparts are equally ambivalent, even with the tax sweeteners and an increase in the maximum amount of bank deposits insured by the FDIC, from $100,000 to $250,000. But several influential conservative Republicans who oppposed the first bill, like John Shaddeg of Arizona and Zach Wamp of Tennessee, have signaled that they will reluctantly support the new Senate version. Still, the vote promises to be a nail-biter, and by Thursday evening, the White House and Congressional leaders were still not convinced that they had secured the additional 12 votes to guarantee passage. With...

Author: /time Magazine | Title: Blue Dog Democrats May Be Key to the Bailout Bill's Fate | 10/3/2008 | See Source »

...continuing resolution, which postpones budgetary decisions until after the presidential election to avoid a presidential veto by President Bush, keeps the maximum Pell Grant award level and federal support for research organizations, including the National Institutes of Health, the National Science Foundation and the Department of Energy constant, through March 6. If the continuing resolution had not been passed, such decisions would have been completed by October...

Author: By Alexandra perloff-giles, CRIMSON STAFF WRITER | Title: Congress Backs Flat Higher Ed Funding | 9/30/2008 | See Source »

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