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☆ NY State Reopens Park as No Widespread Lead Contamination Found; Broader Testing Continues
▼ + stars: | 2023-08-02 | by ( Susan Pulliam | Coulter Jones | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

Persons: Dow Jones Organizations: verizon

Persons: Dow Jones

AT&T, Verizon and other telecom giants have left behind a sprawling network of cables covered in toxic lead that stretches across the U.S., under the water, in the soil and on poles overhead, a Wall Street Journal investigation found. As the lead degrades, it is ending up in places where Americans live, work and play.

Organizations: Verizon, Street Journal Locations: U.S

Congress is pressing federal agencies to better police their officials’ stock trading, while the energy secretary became the first cabinet member to signal support for banning such trading. The developments are the latest fallout from a Wall Street Journal investigation revealing that more than 2,600 government officials across 50 federal agencies had reported investments in companies that stood to rise or fall with the decisions made by their agencies.

U.S. ethics officials in recent years have warned one-third of the Energy Department’s senior officials that they or their families owned stocks related to the agency’s work, reminding them not to violate federal conflict-of-interest rules. Most held on to the stocks, a Wall Street Journal analysis of officials’ financial disclosures from 2017 through 2021 shows.

When crypto exchange FTX was struggling to raise cash early last month, it seized billions of dollars worth of collateral from its trading arm, Alameda Research, and used it to try to convince investors of its financial health, former FTX Chief Executive Sam Bankman-Fried said. But much of it didn’t add up. A big chunk of the assets consisted of four thinly traded crypto tokens closely connected to Mr. Bankman-Fried and FTX employees and mostly held by Alameda. The tokens were likely worth far less than the $6.4 billion marked on the balance sheet FTX was shopping to investors in the hope of a bailout, according to market data and crypto researchers.

It’s the kind of rapid-fire trading you see on Wall Street: hundreds of stock-market wagers, sometimes peppered with options and other aggressive trades. But this wasn’t done by ordinary traders. The transactions came from about seven dozen senior federal-government officials who disclosed that they or their families each made more than 500 trades from 2016 through 2021. That totals more than 80,000 transactions while these officials worked in government.

The top watchdog of American business is also home to Washington’s most active Wall Street investors. The Federal Trade Commission in recent years has opened investigations into nearly every major industry. It has launched antitrust probes into technology companies, examined credit card firms and moved to restrict drug, energy and defense-company mergers.

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