Word: oversights
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...1970s, Congress and the Ford Administration sought to rein in the CIA by creating oversight committees and instituting a ban on assassinations. Some restrictions were eased in the '80s, when the agency backed Afghan mujahedin fighting against the Soviets and meddled in Central America. And since 9/11, the agency has attracted a new load of critics, this time for matters such as "extraordinary renditions" and the harsh interrogation of suspected terrorists in secret overseas prisons known as black sites. Poor Langley--praise is a scarce commodity for an agency whose missions, as President George W. Bush put it, remain "secret...
...called a Financial Product Safety Commission. But the idea isn't exclusive to her. Canada, which did not suffer the subprime woes of its southern neighbor, created a consumer financial agency in 2001. Australia and the Netherlands have taken the more ambitious step of consolidating all consumer and market oversight under one financial regulator while leaving soundness to another. Last year when he was still Treasury Secretary, Hank Paulson endorsed this approach in his blueprint for regulatory reform. (Watch TIME's video of Peter Schiff trash-talking the markets...
...amount of money" fighting the morass of legal cases, including a long-running battle over an estimated $110 million property trust in Utah. The trust, which is named the United Effort Plan Trust, was set up by the polygamous sect's leadership in 1942 but was placed under court oversight in 2005, when allegations of mismanagement surfaced in several lawsuits brought by former FLDS members. A judge Wednesday rejected the latest settlement plans, and so the saga continues...
...programs offered by the FDIC, federal money for Fannie Mae, Freddie Mac and other institutions on top of $7.4 trillion in TARP and other Treasury aid. A spokesperson for the Treasury Department quickly called the numbers flawed, making this the latest in the back and forth between Barofsky's oversight office - which currently has 35 ongoing criminal and civil investigations of suspected accounting, securities and mortgage fraud - and the Treasury Department over the handling of TARP disbursements. (Read a skimmer of Barofsky's "Initial Report to Congress...
...TARP has evolved into a program of unprecedented scope, scale and complexity." - In prepared remarks at a hearing before the House Committee on Oversight and Government Reform. He estimated that U.S. taxpayers may eventually have to pay as much as $23.7 trillion for TARP. (Bloomberg.com, July...