A lot of the discussion about the daily new deals offered the big banks has gone to the fate of the shareholders and other financial stakeholders in these institutions. But as the amount of equity for the shareholders approaches zero in the more recent deals (the new one for Citi being a prime example), what’s becoming obvious in a number of these cases is that all the management is really holding on for are their jobs.
Maybe the third time will be the charm? Obama introduces Bill Richardson Judd Gregg former Washington Gov. Gary Locke as his nominee for Commerce Secretary. That and the day’s other political news in the TPMDC Morning Roundup.
For years I’ve been saying that the Duke Cunningham story reached much further than people understood into the black intel budgets where all sorts of thievery is possible because no one is scrutinizing the budgeting. Tonight, Marcus Stern, the reporter who originally broke the Cunningham story, and now works at ProPublica, unearths a big treasure trove of documents related to the crimes of Kyle “Dusty” Foggo, the former #3 at the CIA, a key player in the scandal who is about to be sentenced.
We’ll be digging into the documents tomorrow to see what we can find.
But take a look now and email us the good stuff you find.