The Fed’s Flexible Numbers and LA’s Abusive Teachers

by Alexandra Andrews
ProPublica, May 11, 2009, 11:14 a.m.

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Even after some banks got the Federal Reserve to reduce the amount of capital that the stress tests require them to raise, some banks tell the Financial Times that they “have been given government assurances they will be allowed to raise less than” the number the Fed finally came up with, a total of $74.6 billion, “if earnings over the next six months outstrip regulators’ forecasts.”

Also, teachers accused of sexual abuse remained in California classrooms because the Los Angeles school board repeatedly “failed to follow up on sexual misconduct complaints against employees once police or prosecutors dropped criminal actions,” reports the Los Angeles Times. In four cases, the accused employee then went on to be charged with or convicted of molesting another student.