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Offshore drilling regulators let industry self-police

Offshore drilling regulators let industry self-police
May 7, 2010 --

When regulators at the Minerals Management Service had concerns about the safety equipment for offshore oil rigs, the agency did not impose stronger regulations and instead allowed industry to police itself, according to two pieces in The New York Times and The Wall Street Journal today. The agency has been scrutinized for its role in the massive BP oil spill in the Gulf of Mexico, particularly for failing to follow up on concerns it had — several years before the BP incident — about equipment that should have stopped the spill but did not.

Meet the homeowners whose loss was Paulson’s $1B gain

April 22, 2010 --

The Wall Street Journal tracked down homeowners whose home mortgages were part of the CDO (collateralized debt obligation) that forms the basis of the SEC’s lawsuit against Goldman Sachs.