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US taps Delhi on Lanka foray: Marines to evacuate civilians
Today's Headlines
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Page 6: Politix
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-Lurid Crime Tales-
Mugger beaten to death in Keraniganj
An alleged mugger was beaten to death at Khejurbag in Dakkhin Keraniganj yesterday morning while fleeing after mugging money from a businessman.

Police also recovered a pistol, one bullet and two live bombs from his possession.

Witnesses said the mugger was caught red-handed by local people at about 8:30am when he was fleeing with a cellphone set and cash money from the businessman at gunpoint. The mob beat the mugger up, killing him on the spot. His identity could not be known yet.

On information, police rushed in and recovered the body. The police sent the body to Mitford Hospital morgue for autopsy.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [1 views] Top|| File under:

#1  I've no idea where this is, but the locals certainly have the right idea.
Posted by: Uluper the Weasel8773 || 03/07/2009 14:45 Comments || Top||


-Short Attention Span Theater-
Pictorial - Historical Japanese Warriors
Posted by: Anonymoose || 03/07/2009 21:11 || Comments || Link || [3 views] Top|| File under:


Spain PM an internet star after F-word slip-up
A video of Spain's prime minister became one of the world's most talked about internet clips on Wednesday after he accidently uttered the F-word in a news conference with Russian President Dmitry Medvedev.

Jose Luis Rodriguez Zapatero was was outlining a Spanish-Russian plan to promote tourism between the two countries during Medvedev's state visit when the verbal faux pas slipped out.

"Tourism is an area of special economic importance in relations between Spain and Russia," said Zapatero, speaking in Spanish. "Therefore we have reached an agreement to stimulate, to favour, to fuck."

With barely a pause, but looking down at his lectern, he quickly continued, "... to support tourism".

Zapatero's office declined to comment on the slip-up.

The Spanish word "to support" has a similar sound to the expletive uttered by Zapatero.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [4 views] Top|| File under:

#1  apoyar very different of follar. In Spanish f.ck is only used for designating the real thing. It is not used to express anger or diappointment like in America.
Posted by: JFM || 03/07/2009 13:08 Comments || Top||

#2  Maybe that's what he meant then. You know, have a little fun while your touring in Spain and Russia.
Posted by: Abu Uluque || 03/07/2009 13:41 Comments || Top||


-Signs, Portents, and the Weather-
Gee Thanks, Obama for the Cool Attacks, Luv Rush
Obama, you magnificent bastard!

From TFA:


One side effect of the Democratic campaign against Rush Limbaugh has been to increase -- dramatically increase -- the talk show host's ratings. This morning I asked Rush if he had any numbers he could share on just what effect the increased visibility has had on his business. This is his response:

The latest numbers I have are for January, well before this kerfuffle began, and they are through the roof -- six shares in NY, for example. There are daily ratings taken now in about the top 15 markets but I have not seen them yet. All I can tell you is that as of January, we booked 80 percent of all our 2008 revenue and we'll be over 2008 by the end of this month.
Posted by: badanov || 03/07/2009 10:40 || Comments || Link || [2 views] Top|| File under:

#1  Snark this one off Gibbs you pudgy, podium perched pinhead.
Posted by: Besoeker || 03/07/2009 19:08 Comments || Top||

#2  Everytime they mention his name, he makes another million...
Posted by: tu3031 || 03/07/2009 19:37 Comments || Top||

#3  I wonder how much Rush paid them to go after him?
Posted by: Barbara Skolaut || 03/07/2009 19:40 Comments || Top||

#4  The handling of this whole kerfuffle by Team 0 has been pretty bush (league). They've managed to promote Rush into command of the GOP while demoting The Messiah to being his peer. All the while giving el-Rushbo a ratings boost. I don't see how this goes up hill for them over the next three years even if Rush is caught with a dead girl or a live boy in his bed.
Posted by: Nimble Spemble || 03/07/2009 19:46 Comments || Top||

#5  We will need a fairness doctrine if Rush's share continues to grow.
Posted by: Skunky Glins 5*** || 03/07/2009 19:49 Comments || Top||

#6  Remarkably, he's still got quite a FOLLOWING!

Posted by: Besoeker || 03/07/2009 19:51 Comments || Top||

#7  Well, B,

There's no refund for selling your soul. I think the 30 day 'cooling off period' has passed.*

*All sales are final in Massachusetts, New York, Illinois, California and except where prohibited by law.
Posted by: Procopius2k || 03/07/2009 23:03 Comments || Top||


Low magnitude quake jolts Landhi, Korangi
Low intensity earthquake jolted areas of Karachi including Landhi and Korangi on early Saturday, Geo News reported. The magnitude was recorded at 2.5 on Richter scale while its epic center lies between Karachi and Thatta, said metrological office. Tremors sparked panic among people as they came out of their homes being terrified but no loss of life or property was confirmed according to preliminary reports, sources said.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [3 views] Top|| File under:


Africa North
Libyan hospital plays race card, 'wants white nurses only'
BA Libyan hospital is recruiting nurses from South Africa - but wants white nurses only. The advertisement, published on Gumtree.co.za on February 12 by a local recruitment agency, reads: "I'm currently recruiting enrolled nurses for a hospital in Libya, Africa.

"Their criteria is that all applicants must be of white nationality.

"This is their criteria."

Successful applicants will receive "free accommodation", will not pay tax, and will earn up to $2 000 (R21 000) per month, according to the advertisement.

By late yesterday, the advertisement had been visited 52 times.

Rhonda van Zyl, the recruitment agent who placed the advert on Gumtree, said in an email yesterday that the hospital's criterion "read Caucasian due to their staffing ratios".

"The hospital wants to reach a five-star status. Two international groups of top medical teams visited the hospital over the past two years to help them identify the list of changes they would need to make in order to achieve this goal," Van Zyl said in her email.

"You will notice that I've targeted only the Enrolled Nurses, which are the least experienced, as the ratios on all the other levels of their medically-trained staff are correct," Van Zyl said. "I'm sourcing staff on an international basis, and not just targeting South Africa."

She did not say whether the hospital in question was a state-run or private institution. "I can assure you that upon receipt of this assignment, I immediately reacted with complete outrage and contacted (the hospital) immediately," she wrote.

Danzel van Zyl, a senior researcher with the SA Human Rights Commission, said yesterday that the advertisement had "clearly racist intentions" and was "blatantly excluding" many people from applying. He did not blame the recruiting company, saying it was "just repeating" the conditions outlined by the Libyan hospital. However, he questioned why Gumtree had allowed the advertisement to run.

"It's a foreign advert - but to what extent should South African companies put this stuff out there?" He said the advertisement would have been illegal if it had been created by a South African hospital or organisation, as it would have violated the Labour Relations Act and the constitution.

"It's morally repugnant, but on the face of it, it's not illegal."

Gumtree did not respond to requests for comment.
Posted by: Besoeker || 03/07/2009 09:50 || Comments || Link || [2 views] Top|| File under:

#1  Gee. Whites as a minority getting hiring preferences.
Posted by: tipover || 03/07/2009 16:12 Comments || Top||

#2  I'd be really leery of nursing in Libya. Remember the Bulgarian nurses accused of infecting kids with HIV/AIDS?
Posted by: Frank G || 03/07/2009 16:40 Comments || Top||

#3  Right, Frank. They must be low on scapegoats.
Posted by: Angie Schultz || 03/07/2009 17:45 Comments || Top||

#4  I wonder if there would have been as much outrage from Mr. van Zyl if the ad had said "Must be of black nationality".
Posted by: Rambler in Virginia || 03/07/2009 19:22 Comments || Top||


Algeria to write off farmers' debts
Algeria will write off 41 billion dinars in money owed banks by farmers and livestock breeders, President Abdelaziz Bouteflika announced Saturday (February 28th) at an agricultural conference in Biskra.

The announcement is a real lifeline for an Algerian farming community on the verge of collapse. Starting this week, banks will cease any proceedings to recover their debts.

This is the second intervention of its kind in just eight years. In 2001, the State stepped in to write off a 14 billion dinar debt. However, that action failed to have the desired effect. In eight years, the debt has almost tripled.

Bouteflika's announcement during his pre-electoral campaign came as a surprise, since the government had appeared to be somewhat intransigent on this point.

Four months ago, Agriculture Minister Saïd Barkat (now health minister) declared that no concessions would be made to the farmers. Barkat told Magharebia that "the age of writing off farmers' debts is past. The State had already tried this in 2001." He added that farmers would be expected to pay back both their loans and land premiums.

Since then, apparently, much has changed.

"[Farmers] are incapable of paying back their debt because of the drought, which has resulted in a net reduction in farming output over the last two years," National Union of Algerian Farmers chief Mohamed Alioui explained.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [4 views] Top|| File under:


Africa Subsaharan
Tsvangirai Injured, Wife Killed In Car Crash
Posted by: Grunter || 03/07/2009 11:13 || Comments || Link || [3 views] Top|| File under:

#1  My condolences to Mr. Tsvangirai.

Sadly, I can imagine Robert Mugabe actually intoning the words "make it look like an accident".
Posted by: eLarson || 03/07/2009 17:04 Comments || Top||


Zim judge arrested for granting Bennett bail
A judge in Zimbabwe has been arrested in the eastern town of Mutare for granting bail to a top aide of Prime Minister Morgan Tsvangirai, a lawyer said on Friday. Magistrate Livingstone Chipadze on Wednesday had ordered the release of Roy Bennett, a deputy minister-designate from Tsvangirai's party, in line with a high court ruling. Bennett was arrested last month. His order was later suspended after prosecutors appealed the bail decision to the Supreme Court, which is still considering the case.

Chipadze is accused of criminal abuse of authority "for ordering the release of Bennett after he was granted bail by the high court," Maanda said.
"Magistrate Livingstone Chipadze has been arrested," lawyer Trust Maanda said. Chipadze is accused of criminal abuse of authority "for ordering the release of Bennett after he was granted bail by the high court," Maanda said.

Bennett, who was picked by Tsvangirai for the post of deputy agriculture minister, was arrested on February 13 as the new Cabinet was about to be sworn in for Zimbabwe's power-sharing government. He was accused of possessing arms for the purposes of banditry, terrorism and sabotage but was granted bail of $2 000 by the high court last week. However, he has remained in custody as prosecutors mounted a series of appeals, finally turning to the nation's highest court on Wednesday to keep him locked up.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [1 views] Top|| File under:


Bangladesh
Woman's body found packed in luggage at ZIA
Security personnel recovered the body of a young woman packed in a luggage abandoned at Zia International Airport terminal building-1 yesterday.

Ansar personnel informed the chief security officer of the airport at around noon that a luggage was lying on the first floor of the building since early morning, police said. Later, security men took the luggage to a scanner machine that detected something like a human body in it.

On information, police came to the spot and recovered the body of a woman aged around 30. Identity of the victim could not be known. The body was sent to Dhaka Medical College morgue for autopsy.

Officer-in-charge (OC) of Airport Police Station Sirajul Islam said the victim's hands and legs were tied with strings and mouth tied with cloth. She might have been killed somewhere else with the body left at the terminal building early in the morning.

They will examine video footages of close circuit television cameras installed at the airport to track down the killers, he added.

Meanwhile, a police official seeking anonymity said the incident shows lapses in security at the airport.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [0 views] Top|| File under:

#1  May those who did this to her burn in depths of hell for a very long time. I don't know how properly to curse those who do such things.
Posted by: trailing wife || 03/07/2009 20:12 Comments || Top||


Britain
Foreign investors pull $1 trillion out of the City
Posted by: tipper || 03/07/2009 08:18 || Comments || Link || [0 views] Top|| File under:

#1  Ouch.
Posted by: Seafarious || 03/07/2009 8:29 Comments || Top||

#2  So, where did that money go? Follow the money.
Posted by: Richard of Oregon || 03/07/2009 9:19 Comments || Top||

#3  Unter der matratze?
Posted by: Besoeker || 03/07/2009 9:57 Comments || Top||

#4  Its going into US$ to buy US Treasuries. That is the next big bubble and when it bursts it will be catastrophic. Imagine buying a 10 year bond at around 2% yield and then as the interest rates rise the yield goes to 4%. That means half the principal will be lost if one wants to sell the bond. Does one reasonably believe that with the refinancings due this year [e.g. Greece 360bln] and the growing demand from the US that the interest rates will stay so low.

In addition, the US is benefitting from a flight to safety at the moment. But as soon as there is a crack in the US$ interest rates will have to go up just to compensate for the perceived currency risk.

Copper has stabilized and oil is now holding consistently above $44. Those are inflationary indicators. Gold is in a trading range for the moment but as soon is goes above $1000 it will be off to the races. M2 is rising dramatically and velocity is rising. Walmart figures yesterday indicated that the consumer is still alive. Inflation is on the way.

James Carville once said words to the effect that if he is reincarnated he wants to be the bond market because that is where the power is. (Wall Street Journal (February 25, 1993, p. A1)

Obama doesn't understand the basics of the market. The bond market will ring the bell in due course.

Posted by: Omoter Speaking for Boskone7794 || 03/07/2009 10:12 Comments || Top||

#5  Obama doesn't understand the basics of the market.

A blinding, burning, solar flare flash of the obvious.
Posted by: Besoeker || 03/07/2009 10:17 Comments || Top||

#6  Obama doesn't understand the basics

was enough.
Posted by: Bright Pebbles the flatulent || 03/07/2009 12:45 Comments || Top||

#7  It get even worse for the Brits. They've gone the route of QE, except the bulk of the money form the BoE is going to purchase government debt.
Posted by: Mike N. || 03/07/2009 14:19 Comments || Top||

#8  Is velocity really increasing? Seems counter-intuitive given the massive scope of consumer debt deflation and the rise in saving rate.
Posted by: Cynicism Inc || 03/07/2009 18:46 Comments || Top||

#9  Velocity has decreased, which is why there has not yet been inflation.

One of the current nightmare scenarios is a failed U.S. Treasury auction. Short term treasuries are currently the safety security of choice.
Posted by: DoDo || 03/07/2009 19:32 Comments || Top||

#10  All the money in the world is based on debt. It has to be parked somewhere. It sure doesn't exist as currency.
Posted by: Anguper Hupomosing9418 || 03/07/2009 20:45 Comments || Top||


Caribbean-Latin America
7,000 Mexican Army Troops Deploy To Ciudad Juarez
Ciudad Juarez has become synonymous with the violence and crime committed by the Mexican drug cartels. Over the past several years, countless numbers of women have disappeared or been killed, and in 2008 alone, two thousand people were murdered. Mexican officials moved 1,500 soldiers into the region to try to regain control of the city and say they plan on having 7,000 in place by the end of the week.

Attorney General Eduardo Medina Mora said the troops were there to help support the local authorities, "Ciudad Juarez worries us deeply," he told Reuters. The city, located right on the border of the United States, is a key entry point for drug smuggling and rival gangs have been fighting for control of the area.

Mora explained why the President and armed forces decided to take this drastic step, saying, "In areas where drug traffickers have a lot of influence, sadly there is a risk that they will have an interest in influencing the formation of public power, particularly the local authority. This is something that concerns us."
Posted by: Anonymoose || 03/07/2009 15:36 || Comments || Link || [5 views] Top|| File under:

#1  From 4 Mar El Paso Times:
"I advise you to stop" at army checkpoints, de la Rosa Hickerson, a member of the Chihuahua State Human Rights Commission and a critic of Mexican President Felipe Calderón's war against the drug cartels, told a forum at University of Texas at El Paso last week. "Because if you run the checkpoint, they will shoot you in the head."
Posted by: Anguper Hupomosing9418 || 03/07/2009 17:16 Comments || Top||

#2  "Because if you run the checkpoint, they will shoot you in the head."

To bad she ain't talking about our checkpoints....
Posted by: Barbara Skolaut || 03/07/2009 17:23 Comments || Top||

#3  Build the effing wall NOW!!!! Before Mexico breaks out into open civil war.
Posted by: Rambler in Virginia || 03/07/2009 18:49 Comments || Top||

#4  Hummm -- wonder what the alert level is at Fort Bliss?
Posted by: Sherry || 03/07/2009 19:46 Comments || Top||

#5  Bliss is OK. They've got the I-10 barrier protecting them.
Posted by: Nimble Spemble || 03/07/2009 19:48 Comments || Top||

#6  I recall back in the dark days of 2006, we'd read State travel warnings or cables about C. Juarez alongside sit-reps from Ramadi, and laugh a bit, wondering when the NYT et al would start blaring about "war-torn" Mexico, etc.
Posted by: Verlaine || 03/07/2009 20:45 Comments || Top||


India-Pakistan
Nawaz issuing threatening statements: Sherry
Information and Broadcasting Minister Sherry Rehman on Friday said that Pakistan Muslim League-N (PML-N) leader Mian Nawaz Sharif was issuing threatening statements for the fulfillment of his demands. Speaking at Geo News program Â"Aaj Kamran Khan Kay Saath' here, she said that mutiny call being given by N-league was against people and country's interest. Sherry said that criticizing the President of Pakistan was no service to the democracy. She further said that every effort was made by the government for reconciliation with PML-N and added that PPP had not violated any agreement. Â"PPP leadership didn't run away from the country and faced the cases failed against it,Â" she said.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [5 views] Top|| File under: Govt of Pakistan


PPP, PML-N agree on reconciliation: Fazl
Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman has said that Pakistan People Party (PPP) and Pakistan Muslim League-N (PML-N) have agreed in principle to reconcile on all disputed matters and only modalities need to be worked out. Addressing a news conference after meeting with PML-N leader here on Friday, he said: Â"President Asif Ali Zardari and Nawaz Sharif have extended full cooperation in reconciliatory efforts being made by him and Asfandyar Wali Khan.Â" Â"Both parties have agreed to resolve basic controversial points,Â" he said. Rehman, however, refused to disclose the details of understanding reached between PPP and PML-N. Â"I will never say anything which may cause a political loss to any party,Â" he added. To a question, JUI-F chief said that he was very sure about the progress made in the reconciliation and added there was a difference between closed-door meetings and public addresses. Commenting on JI Amir remarks, Rehman hoped that Pakistan Muslim League-Nawaz leader Mian Nawaz Sharif would not be misled by Qazi Hussain Ahmed.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [5 views] Top|| File under: Govt of Pakistan


Israel-Palestine-Jordan
Likud cut deal with Shas to foil Livni
As negotiations to build Prime Minister-designate Binyamin Netanyahu's government intensified on Thursday, The Jerusalem Post received information from a well-placed political source confirming long-standing speculation that Shas made a deal with Netanyahu to prevent Kadima leader Tzipi Livni from forming a coalition in October.

In return for forcing the February 10 election, Netanyahu promised Shas chairman Eli Yishai the Interior Ministry and NIS 2 billion worth of allocations for his party's pet causes, according to the source.

A Shas spokesman denied the report, saying his party would be overjoyed if it were given even NIS 1.5b.

In all, the financial demands being raised by the five parties expected to join a Likud-led coalition add up to almost NIS 10b., according to a source close to the negotiations.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [2 views] Top|| File under:

#1  In all, the financial demands being raised by the five parties expected to join a Likud-led coalition add up to almost NIS 10b.

That's less than 2 billion dollars: couldn't keep GM running for a week.
Posted by: g(r)omgoru || 03/07/2009 1:29 Comments || Top||


Southeast Asia
Man wins fight to be Christian
AN ISLAMIC court in Malaysia ruled on Friday that a man given an Islamic name at birth was a Christian, a rare victory for religious minorities in this Muslim-majority nation. The man - whose original identity card listed his name as 'Mohammad Shah alias Gilbert Freeman' - brought his case to the Shariah court in southern Negeri Sembilan state after the National Registration Department refused to accept he was a Christian and allow him to drop his Islamic name when he applied for a new identity card.

Lawyer Hanif Hassan said his client, who is 61, was raised as a Christian by his mother, and his Islamic name came from his Muslim father, who left the family when he was only 2-months-old. Mr Freeman is married according to Christian rites and has three children who are Christians.

'The Shariah court ruled that he is not a Muslim. He is not practicing Islam, and he hasn't applied to be a Muslim,' Mr Hanif told The Associated Press.

He said his client was happy with the Shariah court's decision.

'This is a rare case but it shows that the Shariah courts are not rigid and are able to help resolve inter-religious disputes,' he said.

Malaysia has a dual court system. Muslims are governed by the Islamic Shariah courts while civil courts have jurisdiction over non-Muslims. But inter-religious disputes usually end up in Shariah courts, and end in favor of Muslims.

Religious issues are extremely sensitive in Malaysia, where about 60 per cent of the 27 million people are Muslims. Buddhist, Christian and Hindu minorities have accepted Islam's dominance but in recent years voiced fears that courts are unfairly asserting the supremacy of Islam, which is Malaysia's official religion.

Mr Freeman sought the court's help because he said he was getting old and he didn't want any confusion over whether he should receive a Christian burial after, Mr Hanif said.

There have been several cases of Islamic authorities claiming the bodies of people they say converted secretly to Islam.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [0 views] Top|| File under:

#1  This probably didn't help his life expectency any. A brave man to stand up for his beliefs in a hostile environment.
Posted by: Richard of Oregon || 03/07/2009 9:08 Comments || Top||

#2  richard i was gonna say somethin along the same lines. I expect the next news story about him will be his beheading
Posted by: rabid whitetail || 03/07/2009 13:03 Comments || Top||

#3  "a rare victory for religious minorities in this Muslim-majority nation."

Given that the Muslim Majority is only 52%, this gives you a good preview of what to expect in Londonistan, Francistan and Al Andaluz.
Posted by: Frozen Al || 03/07/2009 14:22 Comments || Top||


Cleric probed over child bride
A MUSLIM cleric in Indonesia was questioned on Friday over his marriage to a 12-year-old village girl, police said.
But she had the body of an 8-year-old...
The marriage between cleric Pujianto Cahyo Widiyanto, 43, and junior high school student Lutfiana Ulfa in August sparked an outcry from civic groups in the world's most populous Muslim country.

Widiyanto and his supporters say his actions are acceptable under Islam but others say he should abide by state law, which sets 16 as the minimum age for marriage.

'He has been questioned since this morning,' a police officer told AFP from Semarang in Central Java.

Although Indonesian law carries stiff penalties for paedophilia, arranged marriages between older men and girls are not uncommon, especially in poorer rural areas.

Most of the time they receive religious blessings, but - like Widiyanto's marriage - are not legally registered.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [3 views] Top|| File under:

#1  I've got some suggestions as to what he should be probed with....
Posted by: Barbara Skolaut || 03/07/2009 21:25 Comments || Top||


M'sia exports fall 27%
Malaysia's January exports plunged 27.8 per cent year-on-year, hitting their lowest level since 2001 amid falling demand from key trading partners, according to official data released on Friday. The trade ministry said in a statement that exports fell to 38.3 billion ringgit (S$59 billion) from a year ago while imports slumped 32 per cent year-on-year in January.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [3 views] Top|| File under:

#1  Wailings & tribulations.
Posted by: g(r)omgoru || 03/07/2009 1:30 Comments || Top||


Home Front Economy
What is the correct unemployment number?
This is the under-utilization rate which measures those who are working less than they want to. Rate is 14.8%
Posted by: Omoter Speaking for Boskone7794 || 03/07/2009 09:55 || Comments || Link || [2 views] Top|| File under:


Job Losses Could Swamp Stimulus
President Obama, speaking in Columbus, Ohio, to police cadets whose jobs were saved with money from the $787 billion stimulus package, called the new unemployment figures "astounding."

"We have a responsibility to act," he said, "and that's what I intend to do."

Analysts increasingly view the administration's actions so far as insufficient given the scope of the problem. The stimulus package was designed to "save or create" 3.5 million jobs, according to the administration. But the nation has already lost 4.4 million jobs since the start of the recession. Many banks and other financial institutions, whose health is critical to the economy, are teetering, and the Treasury Department has yet to finalize the details of its plans to remove from their balance sheets the toxic assets dragging them down.
Socialism, here we come.
Posted by: Bobby at the Kids Place in Texas || 03/07/2009 09:49 || Comments || Link || [3 views] Top|| File under:


AIG 'Was Going to Bring Down Europe': Lawmaker
The U.S. government rescued giant insurer American International Group in part because its collapse would dramatically hurt European banks, a senior Democratic lawmaker said on Thursday.

Posted by: g(r)omgoru || 03/07/2009 08:07 || Comments || Link || [4 views] Top|| File under:

#1  Senator Bob Corker, a Republican from Tennessee, said he was surprised that AIG's counterparties were not only saved from being wiped out, but also took no discount on their securities. "They've actually made out like bandits."

Lawmakers said they were running out of patience with regulators' refusal to identify AIG's counterparties.


I'm shocked, shocked, I tell you.
Posted by: Bobby at the Kids Place in Texas || 03/07/2009 10:20 Comments || Top||

#2  "AIG was going to bring down Europe"

And this is bad because ...?
Posted by: Frozen Al || 03/07/2009 14:15 Comments || Top||

#3  Ok then, please have Chartres Cathedral delivered to this wonderful little spot on the edge of town.
Posted by: swksvolFF || 03/07/2009 17:52 Comments || Top||

#4  Beat me to it, Frozen Al ....

So AIG was a Europe-play, perhaps most of TARP was a direct or indirect China-play? Nothing wrong with interconnected interests like this, of course, but it would be nice if there were just a wee bit of transparency by the executive, curiousity on the part of the legislature, maybe a brain in the "press," and what the hell even common sense and standards in the populace!

I know, I know. These thoughts are fading into memory, but still push themselves forward every now and then.
Posted by: Verlaine || 03/07/2009 20:52 Comments || Top||

#5  That was indeed an enlightening summary, Verlaine. I need things neatly clarified when the subject is related to money, I fear. Thank you!
Posted by: trailing wife || 03/07/2009 22:35 Comments || Top||


San Francisco Chronicle may cut half news staff
The San Francisco Chronicle may cut 225 out of 460 newsroom positions if the union that represents the journalists doesn’t meet the company’s demands, according to reports.
The heart (urp) bleeds ...
If the union does agree to concessions, the San Francisco paper would cut 150 newsroom positions. The paper wants workers to give up seniority rights, cut back vacation, sick time and maternity/paternity leave. The Chronicle also wants the union to let the paper outsource some work to non-union employees, according to the East Bay Express.
Posted by: Steve White || 03/07/2009 00:00 || Comments || Link || [2 views] Top|| File under:

#1  "San Francisco Chronicle may cut half news staff"

Would that be the half that lies, or the half that prevaricates?
Posted by: Barbara Skolaut || 03/07/2009 0:14 Comments || Top||

#2  How about cutting each member of staff in half?
Posted by: g(r)omgoru || 03/07/2009 1:25 Comments || Top||

#3  And that was a famously crappy paper back when some papers were half-decent, half the time.

The death of most current media outfits won't help the situation, which remains one in which gathering, selection, framing, reporting, and most discussion of current events and issues is distorted and tendentious beyond salvation. The last ones standing will still be as awful as most have become in the last 10-15 years.
Posted by: Verlaine || 03/07/2009 3:20 Comments || Top||

#4  The death of most current media outfits won't help the situation

Yes it will, because Journalism schools will stop being a favorite choice for young people who "want to make a difference"---some of the vermin may even be forced to work for a living.
Posted by: g(r)omgoru || 03/07/2009 7:28 Comments || Top||

#5  Yes it will, because Journalism schools will stop being a favorite choice for young people who "want to make a difference"---some of the vermin may even be forced to work for a living.

Nah. Work for a living? They'll change their majors to the university papered and equally minimal challenging 'Public Recreation' to be some of the Obama newly created five million government jobs in 'Public Recreation'.
Posted by: Procopius2k || 03/07/2009 9:05 Comments || Top||

#6  In the old days, the sports section was printed on green paper (The Sporting Green), so you quickly identify the few pages worth reading.
Posted by: Snash Oppressor of the Faith9727 || 03/07/2009 12:05 Comments || Top||

#7  I nominate Barbara for snark of the day.
Posted by: Abu Uluque || 03/07/2009 13:45 Comments || Top||

#8  Thankyew, thankyew, Abu.

I'll be here all week. Try the veal. ;-p
Posted by: Barbara Skolaut || 03/07/2009 14:26 Comments || Top||

#9  Whahahahhaaaaaa
Posted by: Besoeker || 03/07/2009 14:27 Comments || Top||

#10  Hang in there union leaders! It's not your jobs on the line. Hang tough and raise the dues on those that are left so you break even.
Posted by: Muggsy Glink || 03/07/2009 15:26 Comments || Top||

#11  They're gonna fire AP?
Posted by: mojo || 03/07/2009 17:40 Comments || Top||


GM asks for new multibillion-dollar loan
General Motors (GM) on Thursday warned it would go bust within 30 days unless the United States Treasury swiftly gives it a further multibillion-dollar loan. The dramatic warning from America's biggest car group came after its auditors, Deloitte & Touche, raised substantial doubts about its ability to continue as a "going concern".

It coincided with an admission that GM paid Rick Wagoner, its chief executive, $15-million last year -- mainly in now-worthless stock options -- despite losing almost $31-billion.

These alarm signals prompted the European commission to offer to convene a crisis summit of at least six EU governments, including Britain, which is home to GM's Vauxhall brand and two plants at Ellesmere Port and Luton.

Vauxhall is considering making a request for several hundred million pounds from the government and the European Investment Bank under a €3,3-billion rescue plan submitted to Germany by GM Europe. But business secretary Lord Mandelson, who has yet to receive the request, is wary and Britain helped to water down an EU ministers' statement on the crisis that France dismissed as inadequate.

The White House said it was "working round the clock" to produce "the most thoughtful approach possible to the situation". GM's stock fell 15% in early New York trading.

The US warnings were contained in GM's delayed 480-page annual report for 2008 delivered to the Securities and Exchange Commission, America's financial regulator. It included a 25-page discussion of the growing risks facing the group, which warned that it could default on its debts, breach its banking covenants and go under even in protected bankruptcy.

The warnings further underline the parlous state of the global motor industry, with American car sales set to decline by a half to just 8,5-million and several other car firms likely to go under.

GM has received $13,4-billion in US Treasury loans and a further $1,6-billion in other government loans and, holding a gun to the government's head, said it could default on this $15-billion without a further cash injection.

It is seeking a total of $30-billion from the Obama administration after racking up $82-billion losses in the past three years, including $31-billion last year. The group, once the world's biggest car maker, said it needs $3,5-billion cash in 2009 and a further $2,3-billion through 2014. The plan it has submitted to Tim Geithner, the US Treasury Secretary, envisages 47 000 job losses, 26 000 of them outside the US.
Posted by: Fred || 03/07/2009 00:00 || Comments || Link || [2 views] Top|| File under:

#1  Ask for a pony, and maybe a new business model, too. One based on making stuff for a profit, maybe.
Posted by: SteveS || 03/07/2009 0:59 Comments || Top||

#2  NO.

File Chapter 11. That's what it's there for.
Posted by: Parabellum || 03/07/2009 8:54 Comments || Top||

#3  I'd rather recall better TIMES.
Posted by: Besoeker || 03/07/2009 10:02 Comments || Top||

#4  <<<< It coincided with an admission that GM paid Rick Wagoner, its chief executive, $15-million last year -- mainly in now-worthless stock options >>>

I wonder what his tax bill will be at the end of the year? Will the IRS take payment in the form of the stock options?
Posted by: Omoter Speaking for Boskone7794 || 03/07/2009 10:45 Comments || Top||

#5  $15-million last year -- mainly in now-worthless stock options

Welcome to hell Mr. Wagoner. Alternative Minimum Tax
Posted by: ed || 03/07/2009 12:21 Comments || Top||

#6  I don't really care to bail out the UAW. Let GM go bankrupt. There are car manufacturers with non-union workers in the South that make quality cars people want to buy at prices they can afford. They just happen to be Japanese and Korean companies.
Posted by: rwv || 03/07/2009 17:23 Comments || Top||

#7  Ummm, anybody else notice the car in the fake ad is a FORD?
Posted by: Redneck Jim || 03/07/2009 20:18 Comments || Top||

#8  Do an involuntary Chapter 11 on GM, split off the military production facilities and sell them to a company like Northrop. Realistically, the only valuable parts of GM are the ones that do defense contracts - so those would be the only ones that another company would buy.
Posted by: Shieldwolf || 03/07/2009 20:38 Comments || Top||

#9  #7 Ummm, anybody else notice the car in the fake ad is a FORD?

but not an F-150!

*drink up!*
Posted by: Frank G || 03/07/2009 21:11 Comments || Top||



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Sat 2009-03-07
  US taps Delhi on Lanka foray: Marines to evacuate civilians
Fri 2009-03-06
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Thu 2009-03-05
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