Links 26/7/2010: CEO Tony Hayward Leaves BP, Banks Controversy Carries on, Wikipedia Stars in Massive Leak
- Dr. Roy Schestowitz
- 2010-07-26 09:13:50 UTC
- Modified: 2010-07-26 09:19:54 UTC
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Security/Aggression
Many encryption utilities--such as the BitLocker feature in Windows 7 Ultimate, or the Rohos Mini Drive utility for protecting info on a thumb drive--are available. But my favorite tool covers all the bases: It's free, it's easy, it's effective, and it works on all major operating systems. TrueCrypt lets you create virtual encrypted drives. Versions are available for Windows, Mac OS X, and Linux; if you install it on several machines running different OSs, you can open your encrypted files from a network share, thumb drive, or other shared storage device.
A huge cache of secret US military files today provides a devastating portrait of the failing war in Afghanistan, revealing how coalition forces have killed hundreds of civilians in unreported incidents, Taliban attacks have soared and Nato commanders fear neighbouring Pakistan and Iran are fuelling the insurgency.
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Environment
BP has said that it is not the only oil Company responsible for oil spill in the Gulf of Mexico. The Company is firm on the view that the claims of its negligence in the oil spill are baseless.
Tony Hayward, chief executive of BP, is to leave the company, bowing to pressure over his handling of the Deepwater Horizon oil rig explosion, the aftermath of which has become America's worst environmental disaster.
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Finance
Wall Street took the latest government report on its pay practices in stride Friday, saying it would review U.S. pay czar Kenneth R. Feinberg's suggestions about compensation while privately expressing relief that the report wasn't tougher on them.
Citigroup Inc. and JPMorgan Chase & Co. are among the banks that sold Goldman Sachs Group Inc. protection against a failure of insurer American International Group Inc., said two people with knowledge of the transactions.
Kenneth Feinberg, the Obama administration's special master on executive compensation, called on 17 bailed-out financial firms including Goldman Sachs Group Inc. and Citigroup Inc. to adopt compensation policies that allow directors to lower top executives' pay when a firm's survival is under threat.
Goldman Sachs told United States investigators which counterparties it used to hedge the risk that American International Group would fail, three people with knowledge of the matter told Bloomberg News.
The inspector general of the Securities and Exchange Commission is investigating whether political or other factors influenced the timing of the filing and subsequent settlement of the commission’s securities fraud case against Goldman Sachs, according to letters between his office and a Republican congressman.
[...]
H. David Kotz, the S.E.C. inspector general, who is an independent watchdog for the agency, began the inquiry in response to an April 23 letter from Mr. Issa, a California Republican who is the ranking minority member of the Committee on Oversight and Government Reform.
The S.E.C. has denied that its timing was influenced by politics.
A nonprofit accuses the bank's traders of starving people by dramatically bidding up prices for wheat, corn and rice. Is that fair?
International banks and financial companies were indirect beneficiaries of the government's 2008 bailout of American International Group Inc., according to newly released documents.
The government's pay czar announced Friday that 17 companies benefiting from federal bailout money handed out $1.6 billion in excess executive pay at the height of the financial crisis. The firms include Citigroup, Goldman Sachs and Bank of America.
Kenneth Feinberg, who was appointed as the Obama administration's special master for compensation, examined executives earning more than $500,000 at the 419 companies that received taxpayer assistance. Of the 17 companies that he found were egregious in their compensation, 11 have paid back the assistance received from taxpayers.
Goldman Sachs (GS) has contracted documentary film maker Ric Burns, co-producer of the Emmy-award winning 1990 documentary, The Civil War, to make an “industrial,” a movie about Goldman for internal consumption only, according to The Wall Street Journal’s Susanne Craig, citing a Goldman rep.
That isn't a real movie title. But filmmaker Ric Burns, who created the PBS series "The Civil War" with his brother Ken, is shooting a documentary about the Wall Street firm. Goldman Sachs Group Inc. is paying for the film, has editorial control and is overseeing the project through its marketing department, a Goldman spokesman said.
The creditors claimed the unit facilitated the fraud committed at Stamford, Connecticut-based Bayou, which filed for bankruptcy protection in May 2006. Bayou co-founder Samuel Israel pleaded guilty to directing a $400 million fraud and is serving 22 years in prison.
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Censorship/Privacy/Civil Rights
In an unprecedented development, close to 92,000 classified documents pertaining to the war in Afghanistan have been leaked. SPIEGEL, the New York Times and the Guardian have analyzed the raft of mostly classified documents. The war logs expose the true scale of the Western military deployment -- and the problems beleaguering Germany's Bundeswehr in the Hindu Kush.
The closing date for comments is 30 July, so you have a few days to mull things over before submitting.
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