Former California GOP congressman Randy “Duke” Cunningham and Louisiana’s Democratic ex-governor Edwin W. Edwards, both convicted of corruption, are among the people seeking a presidential pardon before Bush steps down in January. Scooter Libby, whose sentencing in 2007 for perjury, obstruction of justice, and lying to investigators during the investigation of the Valerie Plame leak Bush commuted last year, is not on the list. During his eight years in office, Bush has granted only 157 pardons, just 17 more than the 140 Clinton granted during the final days of his tenure. (Washington Post)
A Washington Post report highlights the role of the Office of Thrift Supervision in the financial crisis, showing that the federal regulator “failed to rein in the destructive excesses of banks under their watch despite clear evidence of mounting problems.” To date this year, banks under OTS regulation, including big names like IndyMac, Bancorp, and Washington Mutual, account for $355.7 billion in failed assets. (Washington Post)
General Motors announced Friday it would return two of its private planes, just days after auto executives got blasted for flying private jets to Washington to plead for a federal bailout. The company maintained that the decision had been made prior to the bad press. (Washington Post)
The Miami Herald reviews the investigation of Swiss Bank UBS just in time for the high-profile annual party hosted by the bank in honor of the event Art Basel Miami Beach. The federal probe has already netted a guilty plea from one banker, who has spilled secrets related to allegations that the bank devised illegal tax shelters for clients. Other accusations include smuggling diamonds in a tube of toothpaste. (Miami Herald)
Since 2004, Medicaid has spent at least $200 million on drugs that the Food and Drug Administration has not approved, reports the Associated Press. Doctors and other healthcare providers told the AP they were surprised at the finding, although unapproved prescriptions amount to at least 2 percent of all requests. Use of unapproved drugs has been linked to at least 23 deaths this year. (AP)
President-elect Barack Obama has promised to close the Guantanamo Bay camp, but in the meantime the military is “planning for the long-haul”, moving ahead with plans to offer English, art, and geology classes, as well as movie nights and more newspapers. 250 detainees remain in the prison. (Miami Herald)
