Subprime Probe: The FBI is investigating 14 companies that may have committed fraud or insider trading in the foundering mortgage industry. As of yet, the Bureau has not filed any charges.
What is Waterboarding?: Yesterday, Senate Judiciary Chairman Patrick Leahy (D-Vt.) warned that the confirmation of the nominated Deputy Attorney General might not go through if Attorney General Michael Mukasey refuses to offer a definitive stance on waterboarding. Mukasey responded in a letter last night that said that waterboarding wasn't clearly illegal.
Protect America Act: Congress passed a temporary extension of the intelligence surveillance law that could include immunity for telephone companies that allowed the government to wiretap without warrants. The 15-day extension gives both houses time to hash out the more irksome details.
A New UAE Office: Clifford Chance is opening an office in Abu Dhabi, the capital of the United Arab Emirates. The firm already has an office in Dubai.