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November 27, 2008
US banks urge US lawmakers to clarify fair value

By: AccountantacyAge

US banks have pleaded with regulators to immediately clarify fair value accounting rules, warning failure to do so would negate the government's efforts to bolster the financial sector. In a letter addressed to Treasury Secretary...


November 27, 2008
FDA Draws Fire Over Chemicals In Baby Formula


By: Washington Post

Public health groups, consumer advocates and members of Congress blasted the Food and Drug Administration yesterday for failing to act after discovering trace amounts of the industrial chemical melamine in baby formula sold in...


November 26, 2008
Obama Vows to Cut Budget Waste


By: New York Times

President-elect Barack Obama vowed on Tuesday to cut waste in a federal budget that “bleeds billions,” to help offset the costs of the huge stimulus package his team is planning. "If we are going to make the investments we need,...


November 26, 2008
Ailing FDA May Need a Major Overhaul, Officials and Groups Say

By: Washington Post

The Obama administration will inherit a Food and Drug Administration widely seen as struggling to protect Americans from unsafe medication, contaminated food and a flood of questionable imports from China and other countries.


November 26, 2008
CEO Paydays Likely Trimmed in Bailout Bid

By: Newsweek

Members of Congress who oppose the bailout of the auto industry partly on the grounds that the CEOs of Detroit automakers have been making too much money and aren’t willing to make sacrifices in order to get tax-payer funded...


November 26, 2008
First Audit Said to Cite Some Snags With Bailout

By: New York Times

The first operational audit of the $700 billion financial rescue plan, to be delivered to Congress next Tuesday, is expected to be critical of the Treasury Department’s failure to set up ways to track how its bailout money is...


November 26, 2008
U.S. finds trace of melamine in baby formula

By: Reuters

U.S. health officials have found trace amounts of the chemical melamine in one sample of infant formula sold in the United States, a Food and Drug Administration spokeswoman said on Tuesday.

 


November 26, 2008
Bayer Healthcare to Pay U.S. $97.5 Million to Settle Allegations of Paying Kickbacks to Diabetic Suppliers

By: U.S. Justice Department

WASHINGTON - Bayer HealthCare LLC (Bayer) has agreed to pay the United States $97.5 million plus interest to settle allegations that it paid kickbacks to a number of diabetic suppliers and caused those suppliers to submit false...


November 25, 2008
Bush: Treasury 'working closely' with Obama team

By: MarketWatch

On top of bailing out a floundering Citigroup Inc., the current administration could take additional steps to help the financial system, President George W. Bush said Monday morning, noting that President-elect Barack Obama would...


November 25, 2008
Obama to Boost Stimulus With Funds for Roads, Energy

By: Bloomberg.com

President-elect Barack Obama, encouraged by congressional Democrats, will propose early next year an economic-stimulus package three times larger than one he was discussing only weeks ago, with the main focus on infrastructure,...


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