Free Republic

The US government already had to crack down on one Swiss bank, UBS, fining it $780 million earlier this year for illegally aiding American citizens in evading their taxes. Now, it’s Credit Suisse in the crosshairs for helping clients in Iran, Libya, Sudan, and other countries perform illegal transactions. The bank has since “accepted and acknowledged responsibility for its criminal conduct” and is now settling with New York City, New York State, and the federal government on fines totaling nearly $1 billion. According to the Wall Street Journal: “The men announced a $536 million settlement by Credit Suisse, one of...

Reporting from Sacramento — The name of Republican gubernatorial candidate Meg Whitman, a billionaire who has been defending her ties to embattled investment banking giant Goldman Sachs throughout her campaign, appears in the federal investigation of another Wall Street firm tarnished by scandal. Court documents filed by prosecutors in the aftermath of the dot-com bust show Whitman, then chief executive of EBay, listed among about 200 executives who were to receive gifts of deeply discounted stock from Frank Quattrone, then a banker at Credit Suisse First Boston. A star dealmaker during the late 1990s, Quattrone was twice indicted on obstruction-of-justice...

NEW YORK -- The Federal Reserve on Wednesday reluctantly opened the books on its monumental campaign to save the financial system in the midst of the recent crisis, revealing how it distributed some $3.3 trillion in relief. The data revealed that the Fed's aid was scattered much more widely than previously understood. Two European megabanks -- Deutsche Bank and Credit Suisse -- were the largest beneficiaries of the Fed's purchase of mortgage-backed securities. The Fed's dollars also flowed to major American companies that are not financial players, including McDonald's and Harley-Davidson, through unsecured short-term loans. The measure, initiated in Jan....

Democrats' hypocrisy on Bolton exposed Joel Mowbray May 5, 2005 Call it the tale of two confirmation hearings. Two of the four men most recently nominated to be the U.S. Ambassador to the United Nations found their candidacies challenged, though they could not have faced more different receptions.  Both men were supremely qualified, but the similarities end there. The divergent paths for each reveal Democrats' rabid partisanship and belies their claims that they oppose John Bolton on the grounds that character matters. Six years ago, Foreign Service veteran Richard Holbrooke was awaiting Senate confirmation.  As former a ambassador to Germany,...

The Obama administration has conducted a vigorous internal debate over its new strategy for Afghanistan, expected to be unveiled by the president in a speech Friday. According to two U.S. government sources close to the issue, senior policymakers were divided over how comprehensive to make the strategy, involving an initial boost of 17,000 U.S. troops. On the one side were Vice President Joseph R. Biden Jr. and Deputy Secretary of State James B. Steinberg, who argued in closed-door meetings for a minimal strategy of stabilizing Afghanistan that one source described as a "lowest common denominator" approach. The goal of these...

I first laid eyes on Richard Holbrooke (he won't remember) on Monday evening, September 21, 1992. Some ridiculously wealthy Manhattan socialite had thrown a party for Bosnian President Alija Izetbegovic, then the new cause du jour, and some boutique human rights group — a bogus one, I realized in retrospect, now defunct, though its chieftain has since moved to greener pastures and is still active — had decided that I might be useful and had flown me up for the soirée. As it was, nobody was interested in me, I had a drink or two, ate some peanuts, and went...

ABC News has learned that Richard Holbrooke, the US Special Representative to Afghanistan and Pakistan, has died. On Friday, Holbrooke was rushed to the hospital with a torn aorta. He went through more than 20 hours of surgery. Earlier this evening, speaking at the US State Department, President Obama sang Holbrooke's praises and called him "a tough son of a gun." Holbrooke, 69, was a former ambassador to the United Nations and served as chief negotiator at the Dayton Peace Accords, which ended the war in Bosnia. The New Yorker's George Packer wrote a nice story about Holbrooke last year,...

Special Representative for Afghanistan and Pakistan Richard Holbrooke collapsed today during a meeting in Secretary of State Hillary Clinton's office, officials said. According to Democratic sources, Ambassador Holbrooke, Secretary Clinton's top aide for the region, gasped and was clearly undergoing a medical situation when he collapsed. He is said to have walked out of her office on his own power and was tended to by medical personnel at the State Department before being transported to George Washington University Hospital where to be treated for a blood clot. State Department spokesman P.J. Crowley refused to confirm Ambassador Holbrooke's condition, but confirmed...

Bob Woodward's searing critique of the Democrats' war strategy comes as key advisers are leaving and voters lose patience with Barack Obama's promise to deliver 'hope and change'. Alex Spillius reports on an increasingly isolated President. When Barack Obama took office 20 months ago – and what a long 20 months it seems – there was a lot of talk about the great "Team of Rivals" he was appointing around him. Parallels were drawn with the cabinet of substantial talents and big personalities assembled by Abraham Lincoln to rebuild the nation after the civil war. Now, in a new book,...

KABUL, Afghanistan - When Afghan President Hamid Karzai was meeting with provincial governors recently, he looked at his dinner and remarked, "Maybe the foreigners put some poison in my food." This story was told to me by someone who attended the event and said he thought Karzai was joking. But the Afghan leader's remark shows how low U.S.-Afghan diplomatic relations have sunk in a week when Karzai has repeatedly railed against foreigners and declared he won't be anyone's puppet. In recent weeks, Karzai has rushed to Iran and China to prove he doesn't depend solely on Washington and rebuffed U.S....

The single most damning story about President Obama so far is one we know courtesy of his national security adviser, Jim Jones. Visiting the newly installed military commanders in Afghanistan in late June, Jones told General Stanley McChrystal that if he requested more troops any time soon, Obama would have a "Whiskey Tango Foxtrot" (i.e., "What the f--") moment. Jones then, in an interview, made the claim--denied by everyone else involved--that military leaders had agreed that when the president earlier sent 21,000 troops to Afghanistan, "there would be a year from the time the decision was made before they would...

A handful of high-ranking Obama administration officials this month delivered private briefings at the annual invitation-only conference held by an elite international organization known as the Bilderberg group. The closed meeting of some of the most powerful business , media and political leaders in North America and Western Europe heard from top Obama diplomats James Steinberg and Richard Holbrooke, who detailed the administration’s foreign policy, while economic adviser Paul Volcker, chairman of President Obama’s Economic Recovery Advisory Board, also gave a presentation at the heavily guarded seaside resort in Greece that hosted the event. The Bilderberg group, which takes its...

President Asif Ali Zardari vowed on Thursday not to allow anybody to challenge the government’s writ or run a parallel government in any part of the country, and said the government is aware of the problems emanating from extremism and terrorism. The pledge came during talks with US president’s special envoy Richard Holbrooke, who had called the president over the telephone. Zardari and Holbrooke discussed the threat of increasing Taliban influence in Pakistan. Sources said the call was prompted by US fears that Pakistan was not realising the threat posed by the Taliban – who, Washington believes, have exploited the...

Now that President Obama has announced his new strategy for Afghanistan, you may be focused on the number of new troops that will deploy there: 17,000 on the way, with 4,000 more trainers and advisers to join them by fall. Before you think "quagmire," consider what, to my mind, makes this plan so impressive: The troop increase is part of a much broader strategy encompassing the entire South Asia region. It emphasizes economic aid and diplomacy as much as guns. As Richard Holbrooke, Obama's special representative for AfPak, put it: "The media is talking about a military surge. What Obama...

According to Richard Holbrooke, Richard Holbrooke is essentially this country's top diplomat -- Hillary Clinton is merely his "pupil. This despite the fact that Holbrooke has hit the trifecta of shady business dealings over the last few years: a member of AIG's board with more than $800,000 in compensation, a managing director at Lehman Brothers, and the recipient of a "Friends of Angelo" loan from Countrywide (that alone was enough to get Jim Johnson thrown under the Obama campaign bus). Now comes another revelation from the New York Times. Despite repeated denials, according to three sources, Holbrooke did offer former...

What if you could protect America and our allies from nuclear weapons with your choice at the grocery store...the mall? Would you do it? What if you could make the world safer with the car you drive and the gas you put in it? Would you? United Against Nuclear Iran will make it easy with a website that lists all the international companies that do buisiness in Iran - businesses that are maiking it easier for Iran to pursue its nuclear ambitions. The Iran Business Registry is a compilation of those countries and corporations that continue to sustain the Iranian...

Here is video of President Barack Obama appearing at the State Department this afternoon alongside Secretary of State Hillary Clinton to lay out the principles that will guide America's Foreign Policy during his administration. He also announced Richard Holbrooke and former Sen. George Mitchell to serve as Special Envoys - Mitchell as Envoy for Middle East Peace, and Holbrooke as Envoy to Pakistan and Afghanistan. . . . . . (watch video)

The intense competition among Democrats for top jobs in the incoming Obama administration assumes there are a fixed number of posts worth having. But it's looking likely that some extremely choice, even consequential, positions are going to be created by the new administration. For example, plans are underway to establish a White House Office of Urban Policy to better coordinate federal efforts to help cities nationwide, said Valerie Jarrett, co-chairman of the Obama transition team. "He's going to have a White House chief of urban policy," Jarrett told the Trotter Group, an organization of black columnists. She declined to divulge...

Let's take a break from the tedious MSM spin on the latest polls, and settle back and enjoy the televised spectacle of two people who patently dislike each other going at it on live national TV. Former UN Ambassador/current Obama backer Richard Holbrooke was a guest on today's Morning Joe. Observing Holbrooke over the years, he's struck me as someone with, shall we say, a deep and abiding appreciation for his own acumen and importance. Holbrooke and host Joe Scarborough repeatedly clashed over a host of issues from Biden's latest gaffe to Osama Bin Laden. But beyond the substance, it...

WASHINGTON - Senate Budget Committee Chairman Kent Conrad said Saturday he is donating $10,500 to charity and refinancing his loan on an apartment building after reviewing documents showing he received special treatment from Countrywide Financial Corp. Conrad said it appears that Countrywide waived 1 point on his mortgage for a Bethany Beach, Del., vacation home. He said he would donate the equivalent amount of money to Habitat for Humanity. "Although I did not ask for or know that I was receiving a discount, and even though I was offered a competitive loan from another lender, I do not want to...