| | December 20, 2012 | | A NEW DAY Consider this a warning against financial wrongdoing. Amid concerns that. since the financial crisis, the government has not sought criminal charges against certain banks, UBS pleaded guilty to a count of felony wire fraud. The hefty $1.5 billion fine marks the first big global bank in more than two decades to have a subsidiary come clean to fraud. Being honest wasn’t the banks first choice, however—UBS tried to negotiate some rate-rigging leniency, but the Justice Department thought the actions were just too “egregious” to merit any softer sanctions. SNOWPOCALYPSE-ISH It’s beginning to look a lot like Chr—monster snow storm! A Blizzard warning has been issued for the majority of the Midwest, from Eastern Colorado to Lake Michigan’s shoreline in Wisconsin. Up to 12 inches of snow is expected with heavy wind gusts. With white out conditions, some hail, and ice, travelers should expect some flight delays. At least there’ll be snow outside for Christmas. STEPPING DOWN A report finding management failures are to blame for a lack of security at the U.S. mission in Benghazi, Libya, resulted in the resignation of four State Department officials Wednesday. The security before the attack that left four dead, including Ambassador Christopher Stevens, was called “grossly inadequate” by the board’s co-chairman. Sources tell Politico the officials resigning are Eric Boswell, assistant secretary of state for diplomatic security; Charlene Lamb, the deputy assistant secretary responsible for embassy security; and Raymond Maxwell, the deputy assistant secretary of state. | |
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