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Investigations You Need to Read: Friday

Today in accountability news:

  • The Wall Street Journal reports that a Goldman Sachs director may have illegally "tipped off a hedge-fund billionaire" about a $5 billion deal with Warren Buffett's company, Berkshire Hathaway, before the deal was publicly announced. The director hasn't been charged and denies he's done anything wrong.
  • According to an investigation by Reuters, insurance company WellPoint used a computer algorithm to target breast cancer patients, triggering an immediate fraud investigation as the company looked for reasons to drop their coverage.
  • A former Moody's employee told a Congressional subcommittee that the rating agency cared more about losing its market share than about potentially committing "securities fraud," reports Bloomberg.
  • Public radio's "Marketplace" reports that big banks are fighting financial reform, but many smaller banks actually support it, because it makes it easier for them to compete.
  • Data show that in 2009, more than 19,000 California state workers exceeded the vacation and annual leave caps set by the state's rules. That's 5,000 more than the year before, and comprises 8 percent of the total state workforce, according to California Watch.
  • A report by a government watchdog shows that debt-settlement firms misled consumers with false claims, including claims of affiliation with federal stimulus programs, according to The Washington Post.

These stories are part of our ongoing roundup of investigations from other news outlets. For more, visit our Investigations Elsewhere page.

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