The New York Times reports that Lehman Brothers channeled billions of dollars through a small "alter ego" firm in order to shift investments off its books and hide its true financial condition.
An audit finds that the largest recipient of federal weatherization funding in Wisconsin had some "questionable" expenses, including gift cards for employees, Christmas decorations and payment of a parking ticket, according to the Milwaukee Journal Sentinel. The company, which received $8.25 million in stimulus money last year, has been threatened with the revocation of $17.7 million in state contracts.
The nation's top mortgage lenders don't like the idea of slashing loan balances to help millions of troubled borrowers. The Wall Street Journal reports that bank executives are warning the House Financial Services Committee that such a move could work for certain borrowers, but shouldn't be used across the board.
As Congress considers the particulars of financial reform, some of the world's richest hedge fund managers have used their wealth to try to make friends on the Hill, reports Politico. Federal Election Commission records show that the nation's 10 richest hedge fund managers have given nearly $1 million to political campaigns over the past several years.
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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