Two former Bear Stearns managers, Ralph Cioffi and Matthew Tannin, could be charged with securities fraud by U.S. prosecutors, The Financial Times reports. The charges could be filed as early as Thursday.
“Citadel Investment Group LLC, Tudor Investment Corp. and at least 20 rival hedge funds are taking advantage of job cuts and pay reductions on Wall Street to recruit top performers and expand into new businesses,” Bloomberg reports.
South Korean President Lee Myung-bak has pledged to keep U.S. beef out of South Korea unless Washington agrees to ban meat from older cattle. His plans to renew U.S. beef imports had led tens of thousands to protest.
“House and Senate leaders have agreed to a new compromise surveillance bill that would effectively shield from potentially costly civil lawsuits telecommunications companies that helped the U.S. government wiretap citizens' phone and computer lines after the September 11 terrorist attacks without court permission,” reports the Associated Press.
In a third straight day of campaigning on the energy issue, Sen. John McCain on Wednesday called for the construction of 45 new nuclear reactors by 2030 and pledged $2 billion a year in federal funds "to make clean coal a reality.”
“Democratic presidential candidate Barack Obama said Wednesday he would bring Osama bin Laden to justice in a way that wouldn’t allow the terrorist mastermind to become a martyr, but he may be killed if the U.S. government finds him,” The Associated Press reports.
“A Senate panel rejected calls Thursday to ban certain swear words on Australian TV following an inquiry prompted by a popular series on restaurant kitchens with foul-mouthed British chef Gordon Ramsay,” the Associated Press reports.