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Anat Admati, finance professor at Stanford and co-author of a new book on American banks, argues that banks carry too much debt and have too little equity. Government support allows them to hide their risky behavior, distorting the economy as a whole, she says.
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An inspector general investigation exposed deep fissures within the unit for the past dozen years and gave rise to perceptions of politicized and partial behavior by lawyers there.
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"Does the president have the authority to use a weaponized drone to kill an American not engaged in combat on American soil?" the attorney general asks. "The answer to that question is no."
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The Obama administration warns that the situation looks ugly for the department under the sequester. But for now, the most alarming claims — that prosecutors will drop cases and criminals will walk free — seem to be just that: alarms.
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Attorney General Eric Holder, Health and Human Services Secretary Kathleen Sebelius, and Veterans Affairs Secretary Eric Shinseki plan to remain with President Obama's administration as his second term begins, according to a White House official.
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The owner of the Deepwater Horizon rig where 11 men died in April 2010 has agreed to pay criminal and civil penalties to resolve Justice Department allegations over its role in the Gulf of Mexico oil spill.
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The investigation, however, did prompt the resignation of one high-ranking official as well as the retirement of former ATF director Kenneth Melson.
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The White House has exerted executive privilege over the documents in question. Republicans say Obama has overstepped his authority.
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House Republicans, however, also gave the Oversight Committee authorization to sue in Federal Court.
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The vote marks the first time a U.S. attorney general has been found in contempt.