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Question of the Day
His arrest comes about five months after Spanish police arrested three hackers in the cyberscam who operated the so-called Mariposa botnet, stealing credit cards and online banking credentials. A botnet is a network of infected computers. The Mariposa botnet appeared in December 2008.
Comment sought on adopting rules
The head of the Securities and Exchange Commission said Tuesday that the agency will seek input from businesses and the public before proposing new rules to oversee Wall Street and financial companies.
SEC Chairman Mary Schapiro said the agency will take public comment before proposing its nearly 100 new rules under the financial regulatory law, even though the law does not require it to do so. The law gives the SEC new powers to oversee hedge funds, derivatives and other aspects of the financial industry.
“We need to have a process that does not stifle communication of important information from the public,” Ms. Schapiro said in remarks at an event hosted by the U.S. Chamber of Commerce.
She said the agency staff will make an effort to meet with interested parties who wish to comment on the new rules. It will also read e-mails and comments on the agency’s website.
Lobbying by businesses and financial interests that opposed the regulatory overhaul is expected to be intense. Even though President Obama last week signed the most sweeping changes for Wall Street since the Great Depression, Congress left much of the new rules to the discretion of regulators.
Biden touts stimulus projects at canyon
GRAND CANYON NATIONAL PARK | Vice President Joseph R. Biden Jr. brought his daughter to the Grand Canyon for her first visit Tuesday, touting its awe-inspiring beauty and the work being done to preserve it for future generations.
Mr. Biden stood at Hopi Point, on the west end of the South Rim overlooking a 5,000-foot drop to the Colorado River, as he outlined stimulus-funded projects that include rehabilitating historic trails and structures. Some $750 million in stimulus money has funded about 800 national park projects that helped create jobs in tough times, he said.
The world is blessed to have reserves of beauty, history and culture like the Grand Canyon, he said, but the national parks have been neglected for too long.
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