Tag Archive: Kenneth Andrew Craig


http://losangeles.ibtimes.com/articles/168679/20110623/america-s-most-wanted-fugitive-james-whitey-bulger-caught.htm

June 23, 2011 4:14 PM EDT

Former Bostom crime boss who was one of America’s Most Wanted, is finally caught in California’s Santa Monica area after being on the run since late 1994.

Bulger is a former leader of Winter Hill Gang, an Irish-American criminal group, and is wanted for 19 murders, conspiracy, extortion, drug dealing, and money laundering.

Bulger had served as an informant for the Federal Bureau of Investigation in a controversial arrangement that allowed him to continue his criminal activities.

The 81-year-old fugitive and his longtime girlfriend Catherine Greig, 60, were apprehended outside of their apartment without incident Wednesday. Agents also found a stash of cash and firearms during a search of their apartment.

The case had long stumped authorities, but a fresh 30-second TV campaign that launched only on Tuesday to find Greig quickly paid off with a helpful tip by an unidentified person.

Bulger, who was found in poor health, will face life in prison if convicted, according to U.S. Attorney Carmen Ortiz at a news conference.

“We’ve gone a long way to bringing justice to the families of the victims,” Ortiz said.

A scandal involving a top FBI agent who acted as Bulger’s informant and was later sentenced, had thwarted his capture and embarrassed the FBI. The crime boss’ story even inspiredt the film “The Departed”.

Bulger has been featured on America’s Most Wanted over a dozen times, with a 2 million dollar reward for information leader to Bulger’s arrest, along with $100,000 for information on Greig.

 

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http://blogs.wsj.com/economics/2011/06/21/john-walsh-a-regulator-critical-of-over-regulation/

By Victoria McGrane

There aren’t many regulators saying things that big banks want to hear these days, but they’ll like this: Acting Comptroller of the Currency John Walsh on Tuesday warned international regulators that they may be trying to rein in the financial industry too much.

“We are in danger of trying to squeeze too much risk and complexity out of banking as we institute reforms to addresses problems and abuses stemming from the last crisis,” he said at the Centre for the Study of Financial Innovation in London, according to his prepared remarks.

That’s a far different tune from what’s coming from other players in the financial overhaul, who’ve emphasized that banks should get back to the boring business of banking and complexity should be limited.

In contrast, Mr. Walsh argued in his speech that imposing high capital requirements, tight liquidity rules and restrictions on what activities banks can engage in threaten to hurt economic growth.

He urged particular caution on the issue of imposing additional capital requirements on the largest banks — or a “surcharge” on systemically important firms, and his comments come as international regulators are pushing in coming weeks to reach agreement on just how much extra capital the biggest banks must hold.

Mr. Walsh argued that capital levels are already “extraordinarily high by historical standards” and said, at most, a “modest” surcharge on the largest firms may be appropriate. If capital standards are “carried too far, the economy suffers” because higher costs curtail the amount of banking activity necessary for growth, he said.

Mr. Walsh said he is even more skeptical about reform efforts focused on limiting banks’ activities and organization form. The latter is in sharp contrast with Federal Deposit Insurance Corp. Chairman Sheila Bair, who has repeatedly emphasized that regulators must insist that the nation’s biggest financial institutions make structural changes — making their activities “rationalized and simplified” — so regulators can handle their failure without sparking another crisis.

He also pushed back against regulators who would like to define what’s prohibited by the so-called Volcker rule broadly since that could prevent banks from engaging in legitimate banking activities. Championed by former Federal Reserve Chairman Paul Volcker, the rule aims to get commercial banks back to the business of banking and out of certain risky or speculative activities.

“If we draw the circle too narrowly around what we call ‘banking,’ we will unnecessarily restrict legitimate banking activity and raise its cost,” said Mr. Walsh.

 

America’s Most Wanted

http://beta.news.yahoo.com/brazil-american-wanted-sex-crimes-captured-201138141.html

SAO PAULO (AP) — An American on the U.S. Marshals’ list of most-wanted sex offenders has been captured in Brazil.

A spokesman for Brazil’s federal police says officers in Rio de Janeiro on Tuesday captured Kenneth Andrew Craig. The U.S. Embassy has confirmed the arrest.

The U.S. Marshals’ website says Craig is wanted for sexual assault against two boys in Florida in 1998 and unlawful flight to avoid prosecution.

The Brazilian police spokesman offered no other details on Craig’s arrest and spoke on condition of anonymity per department rules.

Craig was featured twice recently on the “America’s Most Wanted” TV show.

 

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