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...connection to a company cannot trade on inside information if they know it is meant to remain confidential. (ImClone was run by Stewart's friend, Sam Waksal.) Ultimately, Stewart was not convicted of insider trading, but of lying to authorities and obstructing justice during the investigation. (Read "How Washington's Bailout Will Boost Wall Street Bonuses...
...weak dollar is helping America's exports. But it is also spooking holders of U.S. debt, whose continued purchases of U.S. Treasury bills allow Washington to fund its deficit spending. Last week, the International Monetary Fund (IMF) announced that the Reserve Bank of India had bought 200 tons of IMF gold reserves, the biggest single purchase by a central bank in 30 years. That pushed the price of gold past $1,100 an ounce, the latest record breaker in a string of new highs, as the market anticipated gold buying by other central banks to hedge against a falling dollar...
...Support Our Whistle-Blowers Former U.N. official Peter Galbraith should be congratulated for taking a courageous stand on fraud in the Afghan elections, knowing he might lose his job as a result [Oct. 19]. I voted for Barack Obama, but I would like to see more support from Washington for officials who try to do the right thing. Sanjay Gowda, Austin, Texas...
...WASHINGTON...
...question now is whether the Vatican will move again to muzzle Burke. When he criticized Washington Archbishop Donald Wuerl last spring during a videotaped interview, he was forced to apologize less than 24 hours after the video aired. In early September, the bishop of Scranton, Pa. - a Burke protégé - abruptly resigned after a stormy tenure and was not reassigned. Veteran Vatican watchers took it as a sign that some Burkean antics - such as threatening to refuse Vice President Joe Biden Communion and disparaging the USCCB - would not be tolerated...