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Daily Archives: February 11, 2009

Will the $789 Billion Stimulus Plan Bring Economic Recovery?

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  • New York Times: Deal Reached in Congress on $789 Billion Stimulus Plan – “The package of spending increases and tax relief, intended to spur an economic recovery and create jobs by putting money back in the pockets of consumers and companies, ended up smaller than either the House or Senate had proposed.”
  • Will the $800 Billion-Plus Stimulus Plan Bring Economic Recovery? National Center for Policy Analysis, February 10, 2009, by Gerald W. Scully: “Banker greed and Wall Street are blamed, but government policies over the last 25 years are the root cause of the current financial crisis.”
  • Related postings on financial system

    • New on LLRX.com: Six Questions and a Strategy for Campus-wide Information Competence

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    Six Questions and a Strategy for Campus-wide Information Competence. At Cornell University Library (CUL) a committee was established in 2005 to address the issue of information literacy at the university. The committee did extensive research on this topic and developed an approach for seeking solutions. Stuart Basefsky presents three exhibits to accomplish this objective. Continue Reading

    Judiciary Cmte. Hearing: The Need for Increased Fraud Enforcement in the Wake of the Economic Downturn

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    February 11, 2009 – The Need for Increased Fraud Enforcement in the Wake of the Economic Downturn, John S. Pistole, Deputy Director, FBI, Before the Senate Judiciary Committee Hearing “Fraud Trends: The current financial crisis has produced one unexpected consequence: it has exposed prevalent fraud schemes that have been thriving in the global financial system.… Continue Reading

    New GAO Reports: Weapon Systems Acquisition, FAA Reauthorization

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    Defense Management: Actions Needed to Overcome Long-standing Challenges with Weapon Systems Acquisition and Service Contract Management, GAO-09-362T, February 11, 2009: “Several underlying systemic problems at the strategic level and at the program level continue to contribute to poor weapon systems acquisition. The total acquisition cost of DOD’s 2007 portfolio of major programs has grown by… Continue Reading

    Minneapolis Fed: Recession in Perspective

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    “This page places the current economic downturn into historical (post-WWII) perspective. It compares output and employment changes during the present recession with the same data for the 10 previous recessions that have occurred since 1946.” [Note: be sure to click links titled: Larger Image and View Data (xls)] See also Minneapolis Fed Forecasts Economic Downturn… Continue Reading

    TARP Accountability Hearing: Use of Federal Assistance by the First TARP Recipients

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    House Financial Services Committee hearing entitled TARP Accountability: Use of Federal Assistance by the First TARP Recipients, February 11, 2009. The committee called on eight CEOs representing companies who received TARP money to testify. Witness List & Prepared Testimony: Lloyd C. Blankfein, Chief Executive Officer and Chairman, Goldman Sachs & Co. James Dimon, Chief Executive… Continue Reading

    SEC Charges KBR and Halliburton for Foreign Corrupt Practices Act Violations

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    News release: “The Securities and Exchange Commission today announced settlements with KBR, Inc. and Halliburton Co. to resolve SEC charges that KBR subsidiary Kellogg Brown & Root LLC bribed Nigerian government officials over a 10-year period, in violation of the Foreign Corrupt Practices Act (FCPA), in order to obtain construction contracts. The SEC also charged… Continue Reading