Paul Krugman: Banking on the Brink
American Insurance Group, the insurance giant that is 80-percent owned by the US government, is in discussions with the government to secure additional funds so it can keep operating after next Monday, when it will report the largest loss in U.S. corporate history, CNBC has learned.
Scott Horton: "The Stupid Party"
A federal judge has scheduled a hearing to determine whether Barry Bonds' former trainer, Greg Anderson, will agree to testify when the home run king's perjury trial begins next month in San Francisco, although Anderson is not expected to change his mind about helping the government prove its case against Bonds.
U.S. District Court Judge Susan Illston, who will preside over Bonds' trial when it is set to begin March 2, ordered Anderson to appear at a morning hearing Wednesday. Illston told the United States Marshals Service to notify Anderson about the hearing, and to provide him transportation to the courthouse if necessary.
Anderson's attorney, Paula Canny, told the Daily News last week that it is unlikely that the trainer will agree to testify at Bonds' trial, as he has refused to do in the past. Anderson spent more than a year in prison for contempt of court rather than testify against his former client, and if he refuses to testify next month, he could be jailed for the duration of the trial, which is expected to last up to three weeks.
For the third time, the former Bush official – and newly crowned king of D.C.
TwitsTwitterers – failed to appear before the House Judiciary Committee to testify about his alleged involvement in the firing of U.S. Attorneys and the alleged political prosecution of former Alabama Gov. Don Siegelman.
Rove's no-show Monday is not surprising – especially to Siegelman, who said Monday in an exclusive Raw Story interview that Rove will never testify under oath "because he is guilty as sin." Rove's attorney has vehemently denied that his client was involved in the prosecution of Siegelman.
Will the House hold Rove in contempt before March 4?