A disturbing new Senate report highlights anti-terrorism “fusion centers,” which were designed to allow state, local and federal investigators to share information about terrorism. Instead, says the Senate Permanent Subcommittee on Investigations, the centers have produced useless intelligence information and proven a waste of money. “The subcommittee investigation could identify no reporting which uncovered a terrorist threat, nor could it identify a contribution such fusion center reporting made to disrupt an active terrorist plot,” the report alleged. What’s more, the fusion center reports often targeted innocent US citizens as terrorist suspects, improperly collecting their personal communications.
|By: David Dayen Wednesday October 3, 2012 3:18 pm|
|By: David Dayen Friday September 7, 2012 9:50 am|
Carl Levin is at it again. His Senate Subcommittee on Permanent Investigations, perhaps the best investigatory panel in Congress, particularly on financial matters, has honed in on JPMorgan Chase and the Fail Whale trades.
|By: David Dayen Friday August 10, 2012 6:40 am|
Goldman got off for two separate things here, detailed in this contemporaneous report on the SPSCI report: one, the securities fraud elements of lying to their investors and profiting off their lack of disclosure; and two, lying to Congress about it. The Justice Department didn’t see a problem with it. So any upstart investment bank looking to make it in the world, you have your marching orders. You have to lie to your investors, take the other side of the bet on the deals you offer them, and when questioned about it, obfuscate and obstruct the investigatory body. That’s the way to the top.
|By: David Dayen Tuesday July 17, 2012 8:30 am|
I thought that, given all the pervasive bank crimes over the last several years, we wouldn’t have a time when the roof appeared to cave in on the financial industry. But I’m getting that feeling today. All of the criminality and venality and greed seems to be coming to a head.
|By: David Dayen Friday May 20, 2011 4:07 pm|
It’s possible that this is just an illusion of investigation from the Department of Justice. But with Levin continuing to tell the press that there will be an indictment, it raises the stakes for DOJ. It makes it harder for them to let it go, although that’s certainly still possible.
|By: David Dayen Tuesday April 27, 2010 7:40 am|
Carl Levin, in his statement, said that while Goldman and other investment banks, when they act properly, play a valuable role in the economy. “But in looking at this crisis, it’s hard not to echo the conclusion of another congressional committee, which found, ‘The results of the unregulated activities of the investment bankers … were disastrous.’ That conclusion came in 1934, as the Senate looked into the reasons for the Great Depression. The parallels today are unmistakable.”