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occurred at 9The first blast :20 p.m. in front of the city's Grand Mosque, and the second explosion followed within minutes, IRNA said.

Two alleged suicide bombers were responsible for a pair of explosions in the southeastern Iranian city of Zahedan that left at least 20 dead and scores injured, Iran's state news agency IRNA reported.




occurred at 9The first blast :20 p.m. in front of the city's Grand Mosque, and the second explosion followed within minutes, IRNA said.



The news agency reported that at least 20 people were killed and 100 were injured. Iran's state-run Arabic channel, Al-Alam, reported that at least 30 were killed and more than 50 injured.



"It is not yet possible to announce the exact number of those killed and injured in the incident," a police official said, according to IRNA. Zahedan is the capital of Sistan-Baluchestan province, which borders Pakistan.



Iranian Deputy Interior Minister Ali Abdollahi labeled the incident a terrorist act, the semi-official Fars news agency said.



"Terrorist operations in Zahedan have left several dead and injured," Abdollahi said, according to Fars.



"More information will be given when our investigations are completed," he told Fars.



A lawmaker in Zahedan told IRNA that "the two explosions were the result of suicide bombings. First, someone in a woman's clothing tried to enter the Jam-e Mosque in Zahedan but was prevented from entering."



It was not immediately known whether that person was a man or a woman, said Hosseili Shariari, a Zahedan member of parliament.



Three or four people died in the first explosion, and while people were trying to help those victims, the second suicide bomber detonated his explosives, he told IRNA.



Shariari blamed the followers of two extremist groups, the Wahhabis, followers of an extremist Saudi Arabian sect, and the Rigi, followers of a man who was responsible for suicide bombings in the past.



"These explosions were quite predictable," Shariari said, according to Fars. "I have said many times at press conferences that the remaining agents of the Wahhabis and the Rigi group are determined to conduct this kind of operation to prove that they still exist."



In October of last year, in the same province, a suicide bomber blew himself up as participants headed to a conference between Shia and Sunni groups in the city of Sarbaz.



At least 29 were killed in that bombing, including five senior officers of Iran's elite Revolutionary Guard Corps.



The terrorist group Jundallah -- also known as the People's Resistance Movement of Iran -- claimed responsibility for that attack. The group was led by Abdolmalek Rigi.



In the past, the predominantly Shiite central government in Tehran has accused Jundallah of fomenting unrest in the province. Iran has alleged that the United States and Saudi Arabia are funding the group. Jundallah says that it is fighting for the rights of Sunni Muslims in the country.

Military commanders said that the Iraqis were trained to international standards.

Baghdad, Iraq (CNN) -- The U.S. military handed over to Iraq the Camp Cropper detention facility Thursday, calling the moment a milestone in Iraq's history and another step in the drawdown of U.S. forces there.




Established in 2003 as a holding facility for security detainees near Baghdad International Airport, the prison had the capacity to hold up to 4,000 detainees.



With this handover, the U.S. military's oversight on detainee operations significantly diminishes, a cause of concern for Iraqis who largely don't trust their justice system.



The United States will continue to have advisers and special teams inspect facilities if there are reports of torture and abuse.



Military commanders said that the Iraqis were trained to international standards.



"We will also continue to be involved with advisers and in accordance with the security agreement we have every expectation that we will be able to continue to do checks and balances that are presented to us when there is a problem situation," said Maj. Gen. Jerry Cannon, deputy commanding general for detainee operations.



U.S. detainee operations have been undermined by the Abu Ghraib prison scandal and reports of abuse and secret detainment facilities. In the Abu Ghraib case, U.S. soldiers were photographed physically and sexually abusing Iraqi prisoners. Eleven U.S. soldiers were convicted of crimes in the case.



"To be perfectly frank here, we have learned from our experiences here in terms of detainee operations," said Maj. Gen. Steve Lanza, spokesman for U.S. forces in Iraq.



"Some of our inability to be prepared for what we encountered has significantly changed the way we

Goldman Sachs paid $550 million to settle charges of defrauding investors in a sale of securities tied to subprime mortgages, the Securities and Exchange Commission said Thursday.

NEW YORK (CNNMoney.com) -- Goldman Sachs paid $550 million to settle charges of defrauding investors in a sale of securities tied to subprime mortgages, the Securities and Exchange Commission said Thursday.




Goldman (GS, Fortune 500) shares jumped almost 8% in after-hours trading on the announcement, as many predicted the company would be forced to pay $1 billion to settle the case.



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diggs

diggEmail Print CommentThe settlement amount represents roughly 4% of the $13.4 billion in profits Goldman earned last year. In its first quarter of this year, the bank logged $3.5 billion in profits.



Still, the $550 million was the largest penalty a Wall Street company has ever paid to the SEC. Regulators said $250 million would be returned to affected investors and $300 million would be paid to the U.S. Treasury.



The settlement is subject to approval by a judge. Within 30 days, Goldman must wire money to three parties: $150 million to Deutsche Bank, $100 million to the Royal Bank of Scotland and $300 million to the SEC.



In a statement, the SEC called the settlement "a stark lesson to Wall Street firms that no product is too complex ... to avoid a heavy price if a firm violates the fundamental principles of honest treatment and fair dealing."



Not looking so 'Fab' now, Tourre

Charges filed in April: The SEC filed the fraud charges in April against New York-based Goldman and one of its vice presidents, Fabrice Tourre, for failing to disclose conflicts in a 2007 sale of a so-called collateralized debt obligation dubbed Abacus.



The SEC said Goldman acknowledged it gave investors "incomplete information," though the company neither admitted nor denied the allegations. Goldman will also "reform its business practices" as part of the settlement.



Investors in Abacus lost $1 billion, the SEC said when filing the fraud charges. The commission's complaint alleged that Goldman allowed hedge fund Paulson & Co. to help choose the securities included in the CDO, which is a financial instrument backed by a pool of assets such as loans or bonds.



But Goldman didn't tell investors that Paulson was shorting the CDO, or betting its value would fall.



Goldman shot back in April, saying the charges were "completely unfounded in law and fact" and that the company lost $90 million on the deal.



What Goldman has to change: As part of the settlement, the SEC required Goldman to comply with certain business practices for three years. The company will be required to certify in writing, each year, that it has followed all of the rules.



Goldman must expand the role of its firmwide capital committee in approving the sale of mortgage-backed securities.



In addition, the company's legal or compliance departments must review all written marketing materials. Goldman will have to keep a list of all materials reviewed, including the person who approved them and the date of review. The firm will have to conduct an internal audit of this process at least once a year.



If Goldman is the lead underwriter of a sale of mortgage-backed securities and hires an outside firm to advise, that adviser also will have to review marketing materials.



Within 60 days of hiring an employee who will be involved in mortgage-backed securities sales, that worker will have to take a training class about the laws involved. All employees involved in mortgage securities will be required to take a class each year, and Goldman will need to keep records of that training.



Goldman under fire: Despite Goldman's protests, the charges brought scrutiny and criticism to the company and its chief executive Lloyd Blankfein, who still managed to hold onto his job as chairman in May.



Blankfein and other Goldman executives faced a blistering ten-hour cross-examination from members of a Senate panel in April following the SEC's allegations. Lawmakers skewered current and former executives about Goldman's role in the downturn of the housing market, which started to unravel in 2007.



The SEC lawsuit also publicized e-mails sent by Tourre, the vice president named in the charges, to a girlfriend. The messages, sent in late 2007, revealed both Tourre's cavalier attitude and his doubts about the CDO business.



Tourre, then a 28-year-old trader, referred to himself in one e-mail as "fabulous Fab." He also described himself as "the only potential survivor" of the collapsing subprime-mortgage-backed securities business.



In a press conference later Thursday, an SEC rep said there was "no settlement with Mr. Tourre and we are still pursuing that case."

'More than 20 dead' in suicide bomb blasts in Iran

15 July 2010 Last updated at 21:59 GMT


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'More than 20 dead' in suicide bomb blasts in Iran

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More than 20 people have been killed and scores injured in a suspected twin suicide bomb attack at a Shia mosque in Iran, officials say.



Iranian state media said at least 100 were hurt in the blasts outside the Jamia mosque in the south-eastern city of Zahedan.



The attacks, in a largely Sunni area, were the work of suicide bombers, the reports said.



Members of Iran's elite Revolutionary Guard were reportedly among the dead.



The city, capital of Sistan-Baluchistan province, has been targeted before by the Sunni rebel group Jundullah (Soldiers of God), whose leader Abdolmalek Rigi was hanged last month.



Al-Arabiya television station said it had received an e-mail purporting to be from Jundullah, saying the group had carried out Thursday's attacks in response to the execution of Mr Rigi.

'Suicide operation'



The blasts came as worshippers celebrated the anniversary of the birth of Imam Hussein, grandson of the Prophet Muhammad.



"The [first] attacker, dressed in women's clothing, was trying to get in the mosque, but was prevented," local member of parliament Hossein Ali Shahriari told Fars news agency.



"When people came to rescue those hit in that blast, another bomber blew himself up. Three to four have been killed at least in the first attack."



Deputy Interior Minister Ali Abdollahi described the attack as a "suicide operation", AFP news agency said.

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