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...strict code of conduct may be nullified. Indeed, many lenders support the Education Department’s regulation because it is weaker and pushed for the federal supremacy clause so that they could avoid Cuomo’s code while making it seem like they were proactively reforming themselves.The discrepancy in federal and state regulation would not be such a problem if there was not a strong possibility that student lenders would actively seek loopholes and adhere to the lowest standards of the law. As corporations serving financially inexperienced students and non-profit universities, one might assume that lenders...

Author: By The Crimson Staff | Title: In Loco Parentis | 11/7/2007 | See Source »

...believe your foremost mission is to support the Bush Administration, especially with respect to Iraq and Afghanistan, rather than act as an independent and objective check on waste, fraud and abuse on behalf of U.S. taxpayers," said Henry Waxman, chairman of the House Committee on Oversight and Government Reform, which has an ongoing investigation. In response, Krongard issued a statement, claiming, "The allegations, as described to me and in certain media reports, are replete with inaccuracies including those made by persons with their own agendas...

Author: /time Magazine | Title: Federal Watchdogs Under Fire | 11/6/2007 | See Source »

...with such lofty mandates - and powerful offices - their failures can be equally crucial, helping to shield the worst excesses of powerful government bureaucracies. And almost 30 years since its landmark creation, many critics say the IG system has never been in more dire need of reform as it is under the Bush Administration. An unusually high number of Bush IGs, such as Janet Rehnquist at Health and Human Services, have been forced to resign under a cloud as a result of bipartisan pressure, often because of bald incompetence or gross interference with the IG mission. At the same time...

Author: /time Magazine | Title: Federal Watchdogs Under Fire | 11/6/2007 | See Source »

...clear breach of the understanding that Musharraf has with my party. We have been engaged with him for a period of time for a negotiated peaceful transfer to democracy. He has promised to retire as army chief. He has promised to hold fair elections, and implement fair election reform. Contrary to these promises, he has imposed emergency without consulting me. We advised him against doing this. And he chose to side with the hard-core elements of the ruling PML-Q. Now I feel that until democracy is restored we will be fueling the forces of extremism...

Author: /time Magazine | Title: Bhutto to Musharraf: We Can Still Deal | 11/5/2007 | See Source »

...international press thrilled at the omnipresence of France?s young, dynamic can-do President, and Sarko could use some of that spin now. That's because France's economy is stalling, purchasing power is falling as oil and food prices soar, and a series of strikes over pension reform and job eliminations in the public sector are likely to make November a nightmarish month for the French. At least Sarkozy's return to the diplomatic Big Top will generate the kind of press attention capable of momentarily distracting the French public from the grim scene at home...

Author: /time Magazine | Title: Sarkozy's Visit: Stressing the Positive | 11/5/2007 | See Source »

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