Obama: IRS Acting Commissioner Has Resigned

By Greg Richter

President Barack Obama announced Wednesday that the acting commissioner of the IRS has been asked to resign and has done so over the tax-collecting agency's recent admission it targeted conservative groups for extra scrutiny.

After reviewing the inspector general's report on Tuesday, Obama called the actions by IRS agents "inexcusable."

"The good news is, it's fixable," he said. "I'll do everything in my power to make sure nothing like this happens again."

"Americans are right to be angry about it, and I am angry about it," Obama said in a four-minute address from the East Room of the White House.

Obama said such actions would not be tolerated in any agency, "but especially in the IRS, given the power that it has and the reach that it has into all of our lives."

Treasury Secretary Jack Lew was tasked with finding out who the responsible parties are, Obama said, and on Wednesday he asked for and accepted the resignation of acting IRS Commissioner Steven Miller.

"Given the controversy surrounding this audit it's important to institute new leadership that can help restore confidence going forward," he said.


Read Latest Breaking News from Newsmax.com

Urgent: Should Obamacare Be Repealed? Vote Here Now!

This Is Port City: Big money backs mayor

This Is Port City: Big money backs mayor: Businessman helping Johnston, Fritchen campaigns By Scott Smith Record Staff Writer October 17, 2012 12:00 AM STOCKTON - Big mone...

Facebook falls to half of public offering price

NEW YORK (AP) – Facebook's stock fell to $19 for the first time on Friday, losing half its market value since the company's initial public offering in May.

Do You Want to Get Invested into the Next big Social Media Network before any body else gets the chance.

The stock dipped 87 cents, or 4%, to briefly hit $19, just minutes before it closed the trading day at $19.05. Facebook's shares ended the week down nearly 13%.

Facebook (FB) hit the $19 milestone a day after the expiration of a lock-up period that had previously prevented some early investors and insiders from selling their shares. Stakeholders who owned a combined 271 million Facebook shares before Thursday can now sell their holdings.

A breakdown of just how many major Facebook Inc. shareholders sold their stock this week won't be available until next week at the earliest, when sellers must disclose such transactions.

Facebook's stock has struggled since the company's mid-May IPO. It closed its first day of trading barely above its initial offering price of $38. It has been below that level since.

The stock has been down on 38 trading days, up on 25 days and unchanged on one since its initial public offering.

Investors have been concerned about the social network's ability to increase revenue and make money from its growing mobile audience. Many analysts, however, hold positive opinions of the company's long-term prospects.

Here's how Facebook's stock has traded since the IPO: Click Here!

oh zee TV: Audit the FED is one step closer to being reality

oh zee TV: Audit the FED is one step closer to being reality

Iceland Dismantles Corrupt Gov't Then Arrests All Rothschild Bankers...

Iceland Dismantles Corrupt Gov't Then Arrests All Rothschild Bankers...