[Federal Register: January 2, 2009 (Volume 74, Number 1)] [Notices][Page 133-139] Order Pursuant to Section 36 of the Securities Exchange Act of 1934 Granting Temporary Exemptions From Sections 5 and 6 of the Exchange Act for Broker-Dealers and Exchanges Effecting Transactions in Credit Default Swaps, December 24, 2008. I. Background – “In response to the… Continue Reading
Accurate, Focused Research on Law, Technology and Knowledge Discovery Since 2002
Monthly Archives: January 2009
CRS: Presidential Libraries: The Federal System and Related Legislation
Presidential Libraries: The Federal System and Related Legislation, Updated November 26, 2008. “Through the National Archives and Records Administration, the federal government currently manages and maintains 12 presidential libraries. Inaugurated with the Presidential Libraries Act of 1955, these entities are privately constructed on behalf of former Presidents and, upon completion, are deeded to the federal… Continue Reading
Bankrate.com Reports Steep Decline In Mortgage Rates
“The benchmark 30-year fixed-rate mortgage fell 20 basis points, to 5.64 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week’s survey had an average total of 0.39 discount and origination points. One year ago, the mortgage index was 6.14 percent;… Continue Reading
Treasury Releases Emergency Economic Stabilization Report
News release: “Treasury today released the attached report [Report to Congress Pursuant to Section 102 of the Emergency Economic Stabilization Act 12/31/2008], required by section 102 of the Emergency Economic Stabilization Act. As required by section 102(a), Treasury established the Asset Guarantee Program to provide guarantees for assets held by systemically significant financial institutions that… Continue Reading
Treasury Releases Guidelines for Targeted Investment Program
News release: “Treasury today released the program description for the Targeted Investment Program under which the Citigroup investment that was announced on Nov. 23 was made. This program description is required by Section 101(d) of the Emergency Economic Stabilization Act. Other EESA program descriptions are posted at: http://www.treasury.gov/initiatives/eesa/program-descriptions/.” Related postings on financial system Continue Reading
FDIC Board Approves Letter of Intent to Sell IndyMac Federal
News release: “On Wednesday December 31, 2008 the Federal Deposit Insurance Corporation (FDIC) signed a letter of intent to sell the banking operations of IndyMac Federal Bank, FSB, Pasadena, California, to a thrift holding company controlled by IMB Management Holdings LP, a limited partnership. The FDIC’s Board of Directors approved the agreement to sell IndyMac… Continue Reading
California AG Sues to Overturn Bush Administration Rules Undermining Endangered Species Act
News release: “California Attorney General Edmund G. Brown Jr. has filed suit in federal court to block an audacious attempt by the Bush Administration to gut provisions in the Endangered Species Act mandating scientific review of federal agency decisions that may threaten endangered species and their habitat…The new regulations, initially proposed by the Departments of… Continue Reading
Calculating the Acutal Cost of the Financial Bailout
Several sources are reporting the current price tag for the bailout of the financial system. According to the Washington Post’s Binyamin Appelbaum, “…the Treasury Department has now spent or committed more money than Congress has allocated to its financial rescue program, effectively making more promises than it can afford to keep. The scorecard: Congress gave… Continue Reading
Assertion of Executive Privilege Concerning the Special Counsel's Interview of The Vice President and Senior White House Staff
Assertion of Executive Privilege Concerning the Special Counsel’s Interview of The Vice President and Senior White House Staff (July 15, 2008) (added December 29, 2008): “It is legally permissible for the President to assert executive privilege in response to a congressional subpoena for reports of Department of Justice interviews with the Vice President and senior… Continue Reading
Google Releases Browser Security Handbook
SecurityFocus: “Google posted…a handbook for Web developers that highlights the key security features and quirks of major Web browsers. The document, dubbed the Browser Security Handbook, has three parts that tackle the security features in browsers and browser-specific issues that could lead to security weaknesses.” Continue Reading
DHS Privacy Office: The Fair Information Practice Principles: Framework for Privacy Policy
Privacy Policy Guidance Memorandum 2008-01, The Fair Information Practice Principles: Framework for Privacy Policy at the Department of Homeland Security, December 29, 2008. Continue Reading
Treasury Secretary Paulson to FT: US lacked the tools to tackle crisis
Financial Times (sub. req’d): “The US government has had to battle the financial crisis without all the tools it required to do so effectively, Hank Paulson, the outgoing US Treasury Secretary has told the Financial Times. In one of his last interviews before leaving office, Mr Paulson said weve done all this without all of… Continue Reading
