The inspector general tasked with overseeing and auditing the Federal Reserve knows pretty much nothing about what the Fed is doing. That's the conclusion that comes from watching the exchange Tuesday between Rep. Alan Grayson (D-Fla.) and inspector general Elizabeth A. Coleman.

Coleman could not tell Grayson what kind of losses the Fed has so far suffered on its $2 trillion portfolio, which has greatly expanded since September.

She appeared unaware that the Fed engages in trillions of dollars in off-balance-sheet exchanges.

Bernard Madoff's longtime secretary said Wednesday that she believes the disgraced financier is not cooperating with authorities in order to protect others, and that he was a flirtatious boss who frequented massage parlors.

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The announcement that Biden will speak Monday morning comes a day after a victory for the group and the pro-Israel community; the Justice Department decided to drop charges of mishandling classified information against two former AIPAC staffers.

The conference, a chance for AIPAC to flex its unmatched Beltway muscle, is expected draw 6,500 people, and a phalanx of top officials of both parties. Other speakers include Senate Foreign Relations Committee Chairman John Kerry, Newt Gingrich and Los Angeles Mayor Antonio Villaraigosa, as well as congressional leaders Steny Hoyer, Dick Durbin, Eric Cantor, and Jon Kyl. The event typically draws more members of Congress than any outside a joint session or State of the Union.

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Alaska Gov. Sarah Palin, facing a string of costly ethics complaints, formally unveiled a defense fund Friday to help pay her legal fees — now surging past the half-million dollar mark.

"For Alaskans, the time has come to end the siege on our government by political tricksters. Enough is enough. With the help of reform-minded advocates from across our nation, we will stand up for what is right," said a message on the Web site for the Alaska Fund Trust.

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