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NORTHWEST NEWS

Money Crunch After Planned Parenthood Quits Federal Program

Clinics begin charging new fees, tapping financial reserves and intensifying fundraising

New Hate Crime Law Kicks In

SB577 requires state to better track bias crimes

Mayor: Show Extra Love at Portland Businesses After Protests

The City of Portland and more are offering deals and free parking downtown this weekend in an effort to generate some of the revenue lost during last weekend's political protests

Community Leaders Heartened By Portland Response To Proud Boys Rally

Proud Boys outnumbered by counter-demonstrators in largely peaceful event

NEWS BRIEFS

Travel Portland Opens New Director Park Visitor Center

Hosts “Celebrating All Things Portland” grand opening weekend celebration ...

Police are Trying to Connect Floyd Leslie Hill to His Loved Ones

The Portland Police Bureau is asking for the community's help in locating the loved ones of Floyd Leslie Hill who passed away on...

Study Finds Lack of Racial Diversity in Cancer Drug Clinical Trials

New research published this week in JAMA Oncology has found a lack of racial and ethnic diversity in clinical trials for cancer drugs ...

Portland Parks, Partners Host Charles Jordan Birthday Celebration

A celebration of the life of one of Portland’s most influential leaders, held at his namesake community center ...

Matt Dishman Community Center Annual Block Party

The event will feature free food, arts and crafts, family fun, live music and more ...

Western states oppose plan to charge for US reservoir water

BISMARCK, N.D. (AP) — Attorneys general from a dozen western states want the Trump administration to halt a proposal by the U.S. Army Corps of Engineers that they say usurps states' authority over their own water.North Dakota Attorney General Wayne Stenehjem said the Water Supply Rule...

La Center teachers could strike on first day of school

LA CENTER, Wash. (AP) — Teachers in La Center have voted 75-1 to strike if a new contract deal isn't reached by the first day of school next week.The Columbian reported Friday that the La Center School District and its teachers' union are working with a mediator for in hopes of avoiding a...

Ex-Clemson star Kelly Bryant takes over at QB for Missouri

COLUMBIA, Mo. (AP) — Barry Odom never seems stressed about the future, whether the Missouri coach is pondering tough sanctions handed down by the NCAA over a recruiting scandal or the fact that one of the most prolific passers in school history is now in the NFL.When it comes to the...

Missouri DE Williams pleads to misdemeanor, put on probation

COLUMBIA, Mo. (AP) — Missouri defensive end Tre Williams pleaded guilty to a misdemeanor and was sentenced to two years of unsupervised probation after prosecutors dropped a felony domestic assault charge.The Columbia Daily Tribune reports Williams pleaded guilty to peace disturbance and was...

OPINION

Why I’m Visiting the Border

People of color are feeling less safe today and any day when we see the realities of domestic terrorism and racially-motivated acts of violence ...

Why Lady Liberty Weeps

The original concept was to have Lady Liberty holding a broken shackle and chain in her left hand, to commemorate the end of slavery in the United States. ...

Avel Gordly's Statement in Advance of Aug. 17 Rally

'All we have on this planet is one another' ...

A National Crisis: Surging Hate Crimes and White Supremacists

Our history chronicles the range of hate crimes that have taken the lives of Latinos as well as Native Americans, Blacks, Jews, and the LGBTQ community ...

AFRICAN AMERICANS IN THE NEWS

Family of first enslaved Africans in America marks 400 years

HAMPTON, Va. (AP) — A family that traces its bloodline to America's first enslaved Africans said Friday that their ancestors endured unimaginable toil and hardship — but they also helped forge the nation."Four hundred years ago, our family started building America, can I get an Amen?"...

Biggest ever Kentridge show explores Africa's history

CAPE TOWN, South Africa (AP) — Evocative videos, graphic tapestries, charcoal drawings, woodcut prints, sculptures and immersive sound installations combine in the largest single show by South African artist William Kentridge to explore compelling themes including South Africa's apartheid...

International warrant for Kosovo ethnic Serb minority leader

PRISTINA, Kosovo (AP) — Kosovo's justice minister says an international arrest warrant has been issued for a leading ethnic Serb minority leader suspected of involvement in the killing of a moderate Serb politician a year ago.Abelard Tahiri said Friday that the warrant was issued for Milan...

ENTERTAINMENT

Rolling Stones get name on little Martian rock that rolled

PASADENA, Calif. (AP) — There is now a "Rolling Stones Rock" on Mars, and it's giving Mick, Keith and the boys some serious satisfaction.NASA named a little stone for the legendary rockers after its InSight robotic lander captured it rolling across the surface of Mars last year, and the new...

Top publishers sue Audible for copyright infringement

NEW YORK (AP) — Some of the country's top publishers are suing Audible, citing copyright infringement as they ask a federal judge to enjoin the audiobook producer-distributor's planned use of captions for an education-driven program.The so-called "Big Five" of publishing — Penguin...

Life-changing 'Power': Stars reflect on series' impact

LOS ANGELES (AP) — It's tough to overstage the impact of "Power."The series turned Starz into a must-watch cable network for many viewers, proved 50 Cent's instincts correct and along the way turned its characters into internet sensations and in some cases, household names.While much of the...

U.S. & WORLD NEWS

Illinois patient's death may be first in US tied to vaping

CHICAGO (AP) — Illinois health officials said Friday that a patient who contracted a serious lung disease...

Candidate: Michigan city should be as white "as possible"

MARYSVILLE, Mich. (AP) — A city council candidate in Michigan shocked a public forum when she said she...

Boris Johnson prepares to take his place on world stage

LONDON (AP) — British Prime Minister Boris Johnson, who has endeavored to lead his country since he was a...

Israeli teen dies of wounds in West Bank attack, 2 wounded

JERUSALEM (AP) — An explosion Friday near a West Bank settlement that Israel said was a Palestinian attack...

Danish leader speaks with Trump amid Greenland dispute

COPENHAGEN, Denmark (AP) — Danish Prime Minister Mette Frederiksen has had a phone conversation with U.S....

Sri Lanka attacks boost feared ex-official's bid for power

COLOMBO, Sri Lanka (AP) — He is a feared former defense official accused of condoning rape, torture and...

McMenamins
By Karen Weise of Pro Publica for The Skanner News

Deep in an article Friday on the government's bailout of AIG, The New York Times cites sources saying that the Treasury Department's "point man" on AIG, Don Jester, was a former Goldman Sachs employee who owned stock in the bank even as he was making decisions on the bailout that ultimately channeled billions of taxpayer dollars to Goldman.
Owning stock in a company an official oversees typically is verboten, but because Jester was working as an outside contractor rather than an official employee, he was exempt from conflict-of interest rules.
Goldman Sachs stood to benefit from the AIG bailout because Goldman had roughly $20 billion in insurance-like credit-default swaps with AIG -- essentially bets by the investment bank that the housing market would go south. But if AIG collapsed, Goldman wouldn't be able to collect on the bets. When the government instead bailed out AIG, taxpayers paid out the swaps at full face value, and Goldman Sachs got $12.9 billion -- more than any other of AIG's customers.
Jester was Goldman's deputy CFO when he left the firm in 2005. And here's what the Times says about his investments in Goldman:
Mr. Jester, according to several people with knowledge of his financial holdings, still owned Goldman stock while overseeing Treasury's response to the A.I.G. crisis.
We contacted Jester this morning to comment on the story and confirm the stock ownership; we'll post an update when we get a response. His spokesperson, Michelle Davis, told the Times that Jester followed what the paper paraphrases as an "ethics plan to avoid conflict with all of his stock holdings" (According to a federal database search, Jester received $30,000 for six months consulting at the Treasury Department.)
Earlier this year, a Times op-ed online dubbed Jester one of the "mystery men" of the financial crisis and noted that Jester was at the center of the Treasury Department's response to AIG's impending collapse. During the chaotic two months in the fall of 2008, Timothy Geithner, then the head of the Federal Reserve Bank of New York, spoke on the phone with Jester 103 times -- more than other person aside from then-Treasury Secretary Henry Pauslon. Jester relocated to AIG's offices for a period of time, the paper reported.
The government's decision to have AIG pay out Goldman and others bets at full value has been controversial. The Times said while several of the Federal Reserve Bank of New York's outside advisors recommended it force banks to take losses on their bets with AIG, Jester advocated for full repayment:
According to the documents, Mr. Jester opposed bailout structures that required the banks to return cash to A.I.G. Nothing in the documents indicates that Mr. Jester advocated forcing Goldman and the other banks to accept a discount on the deals.
As an example of the advice against paying full value for the deals, the Times cited a presentation from an advisor to the New York Fed, which outlined five reasons banks should agree to concessions. The Federal Reserve Bank of New York defended its decisions to the Times:
"This was not about the banks," said Sarah J. Dahlgren, a senior vice president for the New York Fed who oversees A.I.G. "This was about stabilizing the system by preventing the disorderly collapse of A.I.G. and the potentially devastating consequences of that event for the U.S. and global economies"

Pro Publica is a non profit dedicated to investigative journalism in the public interest. Photo of the Goldman Sachs tower taken by BigMac on September 9, 2005. Wikipedia.

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