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Whistleblower News from the Inside - September 27, 2013

Posted  September 27, 2013

UN report warns of real threat from global warming – In the 2,000 page report of the Intergovernmental Panel on Climate Change, a collection of the world’s leading climate scientists warn of serious environmental consequences if governments do not take more aggressive action. Washington Post

Auto parts makers plead guilty to price-fixing – Nine Japanese companies plead guilty and will pay $745 million in fines for conspiring to fix the prices of auto parts they sold to US car manufacturers. Reuters

CFTC ends probe into silver market manipulation – The agency closed its 5 year investigation into allegations that the silver futures market is rigged, though many market players contend, as does CFTC Commissioner Bart Chilton, that manipulation exists. WSJ

Countrywide whistleblower testifies to mortgage loan clearing in 13 minutes – The testimony was from Edward O’Donnell, the original whistleblower who sued the BofA unit under the False Claims Act for selling defective mortgages to Fannie Mae and Freddie Mac. Businessweek

SEC talks tough against individual misconduct – After years of criticism against the agency for failing to prosecute top executives involved in the financial crisis, new SEC Commissioner Mary Jo White says the agency will change course and go after individuals before targeting their companies. LA Times

JP Morgan chief meets with Attorney General to resolve ongoing probes – The price tag to end the government’s numerous investigations against the bank for its role in the financial crisis would be at least $11 billion, by far the largest government fine ever paid. Washington Post