A friend and old fraternity brother of D.C.'s mayor earned his company $4.2 million in management fees for overseeing a city project. The Washington Post reports that he might get an additional $700,000, which procurement experts are calling "unorthodox" and "generous." The mayor's aides call it "standard."
Former Long Island Congressman Rick Lazio, supposed Republican front-runner in the New York governor's race, was a servant of Wall Street in the boom years, according to The Village Voice. The records from his 16 years in public life, which he donated to his alma mater, may now be coming back to haunt him.
After the release of the Lehman Brothers' bankruptcy report, all fingers were pointed at Lehman. But in parts of the report unsealed Wednesday, the bankruptcy examiner also saw possible grounds for a suit against Goldman Sachs and Barclays, reports The New York Times DealBook.
The federal government is now looking at a director of Goldman Sachs in its investigation into insider trading, reports The Wall Street Journal.
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