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Russian court to resume Politkovskaya murder trial
Legal World News | 2008/11/25 13:11
A Moscow court says the trial of three men accused of murdering journalist Anna Politkovskaya will resume a week earlier than had been announced.

Judge Yevgeny Zubov had adjourned the case Thursday for 10 days. He cited a defense lawyer's scheduling conflicts even though the lawyer said there were none.

On Monday court spokesman Alexander Minchanovsky said the trial would resume Tuesday and the jurors were called back early to discuss a string of procedural issues. He refused to elaborate.

Zubov had originally opened the trial to the public but reversed the decision last week.

Politkovskaya embarrassed the Kremlin with her reporting on human rights abuses in Chechnya. Her killing in 2006 caused international outrage.



Bush says Citigroup deal needed to protect system
Lawyer Blog News | 2008/11/24 16:18
President Bush argued Monday that the government's dramatic rescue of Citigroup was necessary to "safeguard the financial system" and help the economy recover, and he said there could be more such moves if other institutions need help.

Bush said he approved the action, recommended by Treasury Secretary Henry Paulson, while flying back to Washington on Sunday evening from meetings in Peru with Pacific Rim leaders. He said he also spoke with President-elect Barack Obama on Sunday night, part of what he has promised will be "close cooperation" between his administration and the Obama camp until the transfer of power on Jan. 20.

Referring to the Citigroup rescue, Bush said: "We have made these kind of decisions in the past. We made one last night. And if need be we will make these kind of decisions to safeguard our financial system in the future."

Bush, who spoke after meeting with Paulson and other Cabinet members at the Treasury Department, said they all realize that Americans are concerned for their jobs and savings.

"We will safeguard the financial system as the first step necessary for economic recovery," the president said. "This is a tough situation. But we will recover from it."

Also while at Treasury, just across a sidewalk from the White House, Bush joined a meeting of top administration officials who are working on greater economic cooperation with China. Bush met on Friday in Peru with Chinese President Hu Jintao for talks focused in part on the global economic turmoil.



Bush spurs economic action, but Obama sets agenda
U.S. Legal News | 2008/11/24 16:18
President George W. Bush got a second bloc of world leaders to endorse comprehensive action to remedy the global financial crisis. But his successor, Barack Obama, is already setting the coming economic agenda.

The formal transfer of power doesn't take place until Jan. 20, but don't tell that to financial markets. They are already taking their cues from Obama and his team.

Wall Street surged by nearly 500 points on Friday after reports that Obama would pick Timothy Geithner, the well-respected head of the New York Federal Reserve, to be his Treasury secretary.

Obama was to formally present his economic team on Monday and elaborate on his weekend call for a sweeping economic stimulus to save and create 2.5 million jobs over the next two years.

It is not that Bush did not have his own successes in Lima at his eighth and final summit of the 21-nation Asia-Pacific Economic Cooperation forum.

The leaders of Pacific Rim countries endorsed the action plan drafted a week ago in Washington by the Group of 20, representing the world's richest nations and major developing countries such as China, Brazil and India.



Government unveils plan to rescue Citigroup
Business Law Info | 2008/11/24 16:14
The government was weighing a plan on Sunday to rescue Citigroup Inc., whose stock has been hammered on worries about its financial health.

The Treasury Department and the Federal Reserve have been in discussions over the weekend to devise a strategy to stabilize the company, according to people familiar with the talks. They spoke on condition of anonymity because the discussions were ongoing.

One option being considered is taking some of the risky assets held by Citigroup off its balance sheet, a move that would give the company more breathing room and put it in a better position to raise capital. It was unclear, however, exactly how that option might be structured, the people said. Another option would be for the government to make another cash injection into the company.

A spokesman for New York-based Citigroup declined comment.

The company has seen its shares lose 60 percent of their value in the past week, reflecting a crisis of confidence among skittish investors. They are worried all the risky debt on Citigroup's balance sheet will turn into losses as the economy worsens and the markets stay turbulent — losses that could be nearly impossible to reverse.

Citigroup is such a large, interconnected player in the financial system that if it were to collapse it would wreak havoc on already fragile financial and economic conditions. The company has operations stretching around the globe in more than 100 countries.

Analysts consider Citigroup the most vulnerable among the major U.S. banks — especially after it failed to nab Wachovia Corp., which was bought instead by Wells Fargo & Co. That was a missed opportunity for Citi to gets its hands on much-needed U.S. deposits that would bolster its cash position.



Gunman shoots 3 inside NJ church
Criminal Law Updates | 2008/11/23 16:14
A gunman has fired shots inside a church in New Jersey and authorities say three people have been wounded, one critically.

The gunman opened fire just before noon Sunday inside the St. Thomas Syrian Orthodox Knanaya Church in Clifton, in northern New Jersey.

Officials say some 200 people were attending a service inside the house of worship.

The New Jersey State Police and Passaic County law enforcement agencies say they are hunting for the gunman.

A law enforcement official says said the shooting may be a result of domestic violence.

Members of the church are mostly first-generation immigrants and their children from Kerala, India.



Court could give Obama early test on detentions
Lawyer Blog News | 2008/11/22 16:13
The Supreme Court could hand President-elect Barack Obama a delicate problem in the coming days: What to do with a suspected al-Qaida sleeper agent who is the only person detained in this country as an enemy combatant?

Ali al-Marri has been held in virtual isolation in a Navy brig near Charleston, S.C., for nearly 5 1/2 years. He is challenging President George W. Bush's authority to subject a legal resident of the United States to indefinite military detention without being charged or tried.

The justices are expected to consider al-Marri's case when they meet in private on Tuesday. If they agree to hear arguments, over the Bush administration's opposition, they could say so the same day.

Bush's legal team has claimed authority for such detentions and has argued aggressively for it in court papers.

But the case would not be scheduled for argument until sometime in the late winter or early spring, during Obama's first months in office.

Al-Marri's fate will wind up in Obama's hands in any event, but a decision by the court to hear his challenge would force the new president to confront the issue quickly.

In the event the dispute makes it as far as a court hearing, the new administration's lawyers would have to argue the same basic position urged by Bush's team, despite Obama's repeated criticism during the presidential campaign that Bush was too aggressive in asserting executive authority.



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