she also served as ex-official member of the joint power authority.truly an honor to have him here as our guest speaker, and please join me to welcome him to the podium. [applause] >> good afternoon. thank you for that introduction. it is really an honor for me to be here with you today. i want to thank the supervisor for having this town hall meeting put together and thank all of the city agencies who are participating in this. i want to thank zola jones, who found me and let me know that this event was going on. and sent me an e-mail. it's been two years since we last met and it's good to see you again. these days -- we've got a short power point presentation that i'm going to be using. just talk about some of the things we'll be doing, what our agency is about, the type of work that we do. and as you all know, cal trans covers the entire state of california. and in order to better manage that, we have broken down the department into 12 districts just like the city has different districts. that helps us in being closer to the community. helps us in

exchange commission filed civil fraud charges today against two former c.e.o.s and form other ex-officials of fannie mae and freddie mac, the mortgage giants. they're accused of misleading investors about risky mortgage loans. wyatt andrews, now, with that. >> reporter: they were two of the most important players in the subprime mortgage meltdown. according to the s.e.c., richard syron, then c.e.o. of freddie mac and daniel mudd former chief of fannie mae committed fraud, misleading investors on the risks they were taking in subprime mortgages and down playing the hundreds of billions put at risk, all of it backed by taxpayer guarantees. robert khuzami is the chief of enforcements at the s.e.c.. >> fanny, freddie and their executives sought to maintain the illusion that the business involved minimal and manageable credit risk. >> reporter: for example, in 2007 with fanny aggressively buying subprime loans and with congress concerned about taxpayer losses, the s.e.c. says mudd gave the house a low ball figure he knew was fault. >> as a result, our exposure was minimal, less than 2.5% of our

general assembly retirement system board decided in october to block payments to nearly convicted ex officials at least temporarily lisa madigan is office has been asked to review the blagojevich pension matter if he loses his pension blagojevich would get a refund for personal contributions that he made to the retirement fund he is still likely to get a federal pension for his years in congress >>here to break this all down we have wgn's legal analyst terry sullivan ... >>it's all over the place a very well-respected depaul law professor likened this to cruel and unusual punishment he said that the judge and the prosecution went off the deep end with this one >>but people are evenly split in your poll, and as interesting there are lots of people feeling that public corruption is very serious ... and also should someone be punished more harshly because he is a politician fish this will ignite lots of conversation for a long time >>people do acquiesce that he has to serve some time ... but he himself thought that up until the last minute that he might just get probation >>he did. he was still b

explosive testimony took place during the preliminary hearing today for two of penn state's top ex-officialstim curley an gary schultz. both curley and schultz are accused of lying to a grand jury an failing to report what they knew. their charges largely hinge on mcqueary and what he really saw which has come into question after conflicting accounts surfaced. today fk query reinforced about what he told a grand jury he witnessed back in 2002. i warn you again details are graphic and sexually explicit. mcqueary says he was picking up recruiting tapes and saw in a 45-degree mirror image jerry sandusky in the shower with a boy. "in the shower with a boy." he check again, he said. mcqueary says, quote, jerry was behind a young boy. the boy was up against the wall. mcqueary says he heard slapping sounds, saw slow movement. he then bluntly stated this. i believe jerry was sexually molesting him and having some type of intercourse with him. that's just the start of mcqueary's testimony there. >>> now let's go straight to lisa bloom. it is disturbing, details are disturbing here. but there is a goo