End of an Era

The era that's ending saw regulators as nothing but meddlers getting in the way of genius. But capitalism doesn't work without regulation. Powerful people will take advantage of their muscle unless someone -- like it or not, that usually includes the government -- keeps an eye on them.

The War on Waste

More money for the Pentagon, CBS News Correspondent Vince Gonzales reports, while its own auditors admit the military cannot account for 25 percent of what it spends. "According to some estimates we cannot track $2.3 trillion in transactions," Rumsfeld admitted.

Four Lies About Social Security

Army Secretary's Enron Role Probedbr>
How well White did that job has now become an issue in the aftermath of Enron's collapse, as investigators try to determine whether White's unit, Enron Energy Services (EES), contributed to the massive misstatement of Enron's profits over the past four years.

Banks Seek to Block State Privacy Laws


WASHINGTON (AP) - The banking industry is reaching out to Homeland Security Director Tom Ridge and lawmakers in search of federal help to block state consumer privacy laws that bankers argue will hinder their efforts to spot terrorists.

Bring W Down to Earth

George W. Bush, with his $2.13 trillion budget, breezily proposes not only to take military spending back to Cold-War levels in his open-ended war on evil, but he also commits us to permanent tax cuts for his wealthiest benefactors. While he proposes to add $48 billion to the military budget to enable our armed forces to battle terrorists whose most formidable weapon so far has been box cutters, he would spend the Social Security and Medicare surpluses to bankroll nearly $2 trillion in tax cuts over the next 10 years that will send 40% of their benefits to the wealthiest 1% of US households. And his budget would leave no room for expansion of domestic spending programs such as health care for the working poor.

Workers Held Hostage

House Republicans blocked vital aid to the nation's most vulnerable workers, and have refused to release it unless they secure passage of a dying stimulus plan. The plan, you won't be surprised to learn, consists almost entirely of tax cuts for corporations and the wealthy. But now tax-cut advocates have moved from promises to threats. Support tax cuts for the elite, the House leadership says, or we'll cut off your unemployment benefits. So what's next? Support tax cuts or we'll break your legs?