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Goldman CEO retains lawyer; shares slump

US banking giant Goldman Sachs said Monday its top executive Lloyd Blankfein had retained a private lawyer in connection with a US Senate investigation into the mortgage meltdown and the global financial crisis. The company said the chief executive and chairman had his own lawyer to deal with the possibility…

Strauss-Kahn to walk free as sex case collapses

Dominique Strauss-Kahn is set to walk free on Tuesday after New York prosecutors said that while the powerful Frenchman did have sex with his hotel maid, they could not prove an assault because the alleged victim’s lies undermined the case beyond repair. Within hours, New York state Judge Michael Obus…

Biden praises Japan’s courage after tsunami

US Vice President Joe Biden on Tuesday praised Japan’s courage and resolve as he visited its tsunami-shattered coast, where American forces helped with a large-scale relief effort. Biden, near the end of his Asia tour, is the top-ranking American official to travel to the disaster zone where the March 11…

S&P president steps down after US ratings downgrade

Standard & Poor’s president Deven Sharma is stepping down, its parent company announced, just weeks after the credit rating agency cut the US’ top AAA rating and sent global markets into turmoil. Sharma, who will take another role in the company before leaving altogether at the end of the year,…

Rick Perry disavows 9-month-old book ‘Fed Up!’

Texas Gov. Rick Perry (R) has disavowed views put forward in his book Fed Up!: Our Fight to Save America from Washington just one week into his presidential campaign and only 9 months after it was first published in November 2010. In the book, Perry blasted the expansion of the…

Ron Reagan blasts Perry and Bachmann for rejecting science

Ron Reagan, the son of former President Ronald Reagan, slammed Republican presidential candidates Rick Perry and Michele Bachmann on Monday for not accepting the theory of evolution and evidence of climate change. “Neither seem to accept Charles Darwin’s idea that species, including the human species, evolve over time,” he said,…

Obama talks to corporate titans Warren Buffett and Alan Mulally

VINEYARD HAVEN, Massachusetts — US President Barack Obama on Monday reached out to respected business figures Warren Buffett and Ford chief Alan Mulally as he frames a major new plan on jobs and the deficit. Obama made the calls from his rented vacation farm house on the well-heeled resort island…

Congressman Allen West rules out 2012 Senate bid

Freshman Republican Rep. Allen West, a favorite lawmaker among the tea party movement who represents the 22th Congressional District of Florida, announced Monday that he would not run for the Senate in 2012. “I have been given one of the highest honors to serve in the House of Representatives and…

Federal Communications Commission officially drops ‘fairness doctrine’ from rulebook

The Federal Communications Commission (FCC) announced Monday that it had eliminated the fairness doctrine and 83 other “obsolete” provisions from its rulebook. The fairness doctrine required broadcasters to present opposing views of controversial issues and was introduced in 1949, but the FCC stopped enforcing it in 1987. However, the doctrine…

Court sentences Somali pirates to life over yacht attack

WASHINGTON — A US court on Monday sentenced two Somali pirates to life in prison for killing four American hostages after hijacking their yacht off the coast of Oman earlier this year. The life sentences to Ali Abdi Mohamed, 30, and Burhan Abdirahman Yusuf, 31, are the first handed down…

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