Archive - Illinois
Citi Execs: "Deeply Sorry," but Don't Blame Us
Chuck Prince and Robert Rubin, two leaders of Citigroup during the financial meltdown, told an investigations committee that they were sorry for the company's role in the financial crisis, but that they didn't see it coming.
Citigroup's Defense of Its Regulators
Chuck Prince, Citigroup's former CEO, told the Financial Crisis Inquiry Commission that the Fed's oversight of the company was sufficient, even though a panel's study showed that Fed regulators didn't regulate Citi enough.
The Call Geithner Didn’t Make While His New York Fed Watched Over Citigroup
A 2005 report by other Federal Reserve banks found that the New York Fed did not have the resources to supervise Citigroup. But Alan Greenspan, who was the Fed chairman at the time, says that Timothy Geithner never called to ask for more.
Greenspan's Fed Didn't Focus on Enforcement
At a hearing before the Financial Crisis Inquiry Commission, Alan Greenspan defended the Federal Reserve against blame. He said that although the Fed has responsibility for bank regulation and oversight, it "is not an enforcement agency."
Broad Scope of EPA’s Fracturing Study Raises Ire of Gas Industry
A new EPA study of hydraulic fracturing that has invoked the ire of drilling companies is expected to provide a broad look at the natural gas drilling process, including injection spills, leaks and water contamination incidents.
Video of Journalists' Death Answers Some Questions, but Raises Others
A video that shows an American gunship killing two Reuters journalists in Baghdad yields defense and condemnation, but needs to be considered in light of other killing of civilians.
Get Help Making Sense of Stimulus Data
Making sense of the thousands of stimulus reports from hundreds of federal agencies can be challenging. To help, ProPublica, the Associated Press Managing Editors and the Sunlight Foundation are offering offer online Webinars on gathering local stimulus data.
Preview: Financial Crisis Panel's Huge Task, Small Budget, Unanswered Questions
The Financial Crisis Inquiry Commission, a 10-person panel tasked with investigating the causes of the financial crisis, begins a second round of public hearings with former Fed chairman Greenspan, ex-Citigroup CEO Chuck Prince and former Citi chairman (and Treasury secretary) Robert Rubin.
Stimulus Spending Update: Nearly 41% of Funds Out the Door
Roughly $327 billion in stimulus money has now entered the economy, according to the latest figures on Recovery.gov. That's just under 41 percent of the nearly $800 billion total in the Recovery Act package.
Companies Gain the Upper Hand in Their Auditing Relationships
A report says that companies are now firing their auditors more frequently, demanding more services and managing their relationships -- and fees -- more than in the past, when auditors seemed to always have the upper hand.
Reporting Network Doc Squad
Tennessee, Virginia, Arkansas, Georgia and Delaware have adopted laws that restrict freedom of information requests to state citizens only. So ProPublica needs occasional help from readers to get public records in those places.
Sebastian Rotella On Italian Arms Dealing To Iran
A recent report by Sebastian Rotella revealed the details behind the Italian arms shipments to Iran. In a podcast, Rotella talks to Sharona Coutts about Iran’s arms procurement networks, the Italian business people involved, and other aspects of the story.
Geithner's Letter Shows Opposition to Fixed Capital Requirements In Reform Bill
In a letter sent last January, Treasury Secretary Geithner indicates his opposition to fixed capital requirements in financial reform legislation. He favors capital requirements to prevent problems like those that sunk Lehman Brothers, but doesn't want a numerical requirement written into the law.
