NORTH CHARLESTON, SC (WCSC) - Police arrested a 41-year-old man last week after he called 911 and told officers that he was not given the correct change after buying crack cocaine from a drug dealer.
The North Charleston Police Department arrested Dexter White for disorderly conduct.
It all started last Friday around 4:30 a.m., when White called authorities and told officers that he had given $60 to a drug dealer for crack and only got back $20 worth of drugs.
White said the drug dealer refused to give him $40 back. According to a police report, White then walked away from the drug dealer, smoked the crack he purchased and then called 911.
White was locked up at the Charleston County Detention Center.
An interesting explanation of derivatives and the banking implosion, received in an e-mail.
Heidi is the proprietor of a bar in Detroit.
She realizes that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronize her bar.
To solve this problem, she comes up with a new marketing plan that allows her customers to drink now, but pay later.
Heidi keeps track of the drinks consumed on a ledger (thereby granting the customers' loans).
Word gets around about Heidi's "drink now, pay later" marketing strategy and, as a result, increasing numbers of customers flood into Heidi's bar. Soon she has the largest sales volume for any bar in Detroit.
By providing her customers freedom from immediate payment demands, Heidi gets no resistance when, at regular intervals, she substantially increases her prices for wine and beer, the most consumed beverages.
A young and dynamic vice-president at the local bank recognizes that these customer debts constitute valuable future assets and increases Heidi's borrowing limit.
He sees no reason for any undue concern, since he has the debts of the unemployed alcoholics as collateral!!!
At the bank's corporate headquarters, expert traders figure a way to make huge commissions, and transform these customer loans into DRINK BONDS.
These "securities" then are bundled and traded on international securities markets.
Naive investors don't really understand that the securities being sold to them as "AAA Secured Bonds" really are debts of unemployed alcoholics. Nevertheless, the bond prices continuously climb!!!, and the securities soon become the hottest-selling items for some of the nation's leading brokerage houses.
One day, even though the bond prices still are climbing, a risk manager at the original local bank decides that the time has come to demand payment on the debts incurred by the drinkers at Heidi's bar. He so informs Heidi.
Heidi then demands payment from her alcoholic patrons, but being unemployed alcoholics they cannot pay back their drinking debts.
Since Heidi cannot fulfill her loan obligations she is forced into bankruptcy. The bar closes and Heidi's 11 employees lose their jobs.
Overnight, DRINK BOND prices drop by 90%.
The collapsed bond asset value destroys the bank's liquidity and prevents it from issuing new loans, thus freezing credit and economic activity in the community.
The suppliers of Heidi's bar had granted her generous payment extensions and had invested their firms' pension funds in the BOND securities.
They find they are now faced with having to write off her bad debt and with losing over 90% of the presumed value of the bonds.
Her wine supplier also claims bankruptcy, closing the doors on a family business that had endured for three generations, her beer supplier is taken over by a competitor, who immediately closes the local plant and lays off 150 workers..
Fortunately though, the bank, the brokerage houses and their respective executives are saved and bailed out by a multibillion dollar no-strings attached cash infusion from the government.
The funds required for this bailout are obtained by new taxes levied on employed, middle-class, nondrinkers who have never been in Heidi's bar.
Now do you understand?
Posted by: Bobby ||
05/06/2011 10:15 ||
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#1
Tarp has been trying to unwind 750 trillion $ worth of these stupid bets. No way can it be accomplished. All that will happen is transfer of the debt from the private Fed to the public Treasury. It's time to pay the citizens in Treasury notes and let the Fed and its Reserve Notes take a dive.
Posted by: Water Modem ||
05/06/2011 11:01 Comments ||
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#2
If I might suggest a slight change:
At first Heidi is hesitant to run Tabs for unemployed alcoholics. It's a bad risks and just plain unsound business.
But someone named B. O. sued her for discrimination against unemployed alcoholics. Advocacy groups protested outside her business and home and even her daughter Lucy's elementry school. Finally the government wrote a law requiring her to run tabs for unemployed alcoholics or face severe fines and even jail time.
More than a slight change, CF's little detail is the crux of the mortgage mess. Without government meddling, no one would have ever made these loans. The fact that they jumbled good and bad loans together means no one has any idea of what they are actually worth and trading came to a halt.
The reason there's too much credit is simple. BASEL 2 removed proper reserve requirements, so lending was unconstrained. Governments loved the extra income form taxation this created, until it all blew up.
It's inevitable that it will blow up as the volume of credit pushes down the yield to below the real risk. After this, systematic default is inevitable.
I thought average folks earning under 250K, weren't supposed to see a tax increase?
The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they drive.
The plan is a part of the administration's Transportation Opportunities Act, an undated draft of which was obtained this week by Transportation Weekly.
The White House, however, said the bill is only an early draft that was not formally circulated within the administration.
[Iran Press TV] For the first time since the outbreak of Japan's nuclear crisis, workers have been able to enter the quake and tsunami-hit Fukushima Daiichi power plant.
On Thursday, Japanese workers entered the reactor No.1 at the battered Fukushima Daiichi power plant, the facility's operator Tokyo Electric Power Co. (TEPCO) said. The workers installed eight pipes connected to a ventilating device at the adjacent turbine building as part of efforts to reduce the level of radioactive contamination inside the reactor by circulating air through a filter on the device, TEPCO said.
The move is aimed at preventing workers from suffering internal radiation exposure when they work in the reactor.
The company announced in April that it would manage to reduce radiation leaks from the Fukushima plant within three months and also to cool reactors and control the radiation within six to nine months.
In April, Japan's Nuclear and Industrial Safety Agency raised the severity level of the situation at Fukushima from 5 to 7 -- the worst on an international scale. According to the agency, the amount of radiation emissions at the Fukushima plant was equivalent to 10 percent of that in the Chernobyl disaster in 1986.
Posted by: Fred ||
05/06/2011 00:00 ||
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I guess they'll be using Mop-N-Glo for the clean-up.
Posted by: Deacon Blues ||
05/06/2011 18:35 Comments ||
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[Iran Press TV] Egypt's Former Interior Minister Habib al-Adly has been sentenced to twelve years in jail on charges of corruption and profiteering.
In the first trial of officials from the regime of ousted President Hosni Mubarak ...The former President-for-Life of Egypt, dumped by popular demand in early 2011... , Egypt's criminal court on Thursday convicted and tossed in the clink al-Adly for 12 years, AFP reported.
The former minister now faces a second trial on charges of ordering police to open fire on demonstrators.
Egyptian Judicial sources say the assets of several former officials and ministers have been frozen over corruption and abuse of power.
Ousted president Hosni Mubarak is facing charges of using violence against protesters and corruption. His family is being charged with corruption, as well.
In April, an Egyptian court dissolved the former ruling National Democratic Party of ousted Mubarak and froze its assets.
Egyptian activists say Mubarak must be tried for killing hundreds of protesters during the country's popular uprising that led to his ouster on February 11.
An Egyptian government's fact-finding commission report states that 846 people have been killed and more than 6,400 others injured during Egypt's historic revolution.
Posted by: Fred ||
05/06/2011 00:00 ||
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[Iran Press TV] Switzerland has frozen USD 81 million in potentially illegal assets linked to ousted Ivory Coast strongman Laurent Gbagbo ... Former President-for-Life of Ivory Coast from 2000 to 2011. Laurent lost to Alassane Ouattara in 2010 but his representtive tore up the results on the teevee and he refused to vacate the presidential palace. French troops assisted the Oattara forces in extricating him from his Fuhrerbunker... and members of his inner circle.
"Switzerland ordered his assets seized in January to prevent them being diverted before the Ivory Coast could launch domestic criminal proceedings," Rooters quoted a statement released by the Swiss Foreign Ministry on Thursday as saying.
Under the Swiss cabinet's order, the funds will be frozen for up to three years to prevent them from being withdrawn before Ivory Coast can conclude criminal proceedings against Gbagbo.
Gbagbo and a group of his cohorts were jugged on April 11. Internationally-recognized President Alassane Ouattara ...the current president-for-life of Ivory Coast. He actually beat his predecessor in an election before having to eject him from the presidential palazzo.... took power on the same day.
French and UN helicopters bombarded Gbagbo's military bases and then took control of the country's main airport in Abidjan.
The development came almost five months since Ouattara's runoff election against Gbagbo tipped the West African country into political crisis.
Ouattara's government is now trying to re-establish security and bring the country back to normal.
On April 27, his government announced that it had begun criminal investigations against Gbagbo, his wife and a hundred of his associates.
During the run-up to his ouster, Gbagbo committed crimes against humanity and was suspected of having made mass graves by killing opposition forces, the United Nations ...an international organization whose stated aims of facilitating interational security involve making sure that nobody with live ammo is offended unless it's a civilized country... has said.
Although the country's political crisis is over, the humanitarian crisis still continues as thousands of displaced people are in dire need of food and water.
Posted by: Fred ||
05/06/2011 00:00 ||
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A text message promised a job fair that was supposed to be held Wednesday morning by Chrysler at Detroits Lafayette Tower. Crowds of people reportedly showed up only to find out there never was such an event..."here were hundreds of people, there were people getting off the bus in droves; there were people getting dropped off, people getting out of cabs."
#2
Chicago has this happening in High end Michgan Ave and Gold Coast stores on a weekly basis. Only in Chicago the media rarely reports it and merchants lose thousands of dollars oc merchandise each time
Posted by: Bill Griling5080 ||
05/06/2011 0:43 Comments ||
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"You can't allow this to happen, because it's going to break out into violence. Some cashier is going to decide that he's got to defend the property, and he'll get hurt," he said.
And/or four or five of the 'swarmers'. Unless he meant "defend" with fisticuffs.
Posted by: Bobby ||
05/06/2011 5:44 Comments ||
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I am sorry the economy is so bad in the US right now. I am truly moved to tears to hear of crowds turning up to job fairs only to be disappointed when it turns out it was a hoax.
But this video is a disgrace. Those young people are well-dressed. They aren't hungry they are stealing beer and skittles.
Instead of jailing them force them to do community service looking after old people and give them vasectomies all. They shouldn't be allowed to breed.
#5
"You can't allow this to happen, because it's going to break out into violence. Some cashier is going to decide that he's got to defend the property, and he'll get hurt."
That explains the smiles on the faces of the feral youth. They have little or no fear of retribution for their crimes. On the off chance they are indentified, caught, and prosecuted it will only result in a misdemeanor. Also, they know that the most likely result of injury will occur to the person defending his property - not them. Moreover, if they are the unlikely recipients of injury they can be confident there will be an endless throng of Social Justice activists in their corner. Tragically, even at their young age it's probably too late for morality as the solution.
#6
Instead of jailing them force them to do community service
I disagree, anon1. These are not gentle souls led astray by the passions of the moment; these are privileged bullies enjoying an outing. Six months in jail might get their attention. Anything less, they'll count on Mummy and Daddy getting them off.
#9
Judging by the clothes, we're looking @ college kids, not your usual ghetto thugs collecting reparations.
Anyway very clear video and no masks. You only have to catch one, and the rest will tumble
Posted by: regular joe ||
05/06/2011 15:26 Comments ||
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you only need to care enough to catch one...
and of course be willing to then be called out as racist, and risk an entire community coming out on the streets for festivities as a result.
that is why letting this kind of stuff slide is the defacto policy in most cities.
that it is the policy is why it continues and grows day by day and the 'youths' are becoming bolder and bolder.
Posted by: abu do you love ||
05/06/2011 17:24 Comments ||
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They'll have to do what jewelry stores have started doing. You get buzzed in and buzzed out. If the door is locked and a crowd shows up, don't unlock it and call the cops.
Posted by: Silentbrick - Lost Drill Bit Division - Halliburton ||
05/06/2011 17:46 Comments ||
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#11 They'll have to do what jewelry stores have started doing. You get buzzed in and buzzed out. If the door is locked and a crowd shows up, don't unlock it and call the cops.
Posted by Silentbrick
Welcome to the tribal ruled, democratic utopias of Zimbabwe and South Africa. We have ARRIVED!
#13
That's the 'humane' way. My way would be put the clerk behind bulletproof glass, with a button to lock the door and a firing slot. Then once the door's locked, drop them all.
Kill enough of them and it'll lose the thrill soon enough.
Posted by: Silentbrick - Lost Drill Bit Division - Halliburton ||
05/06/2011 23:05 Comments ||
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[Dawn] GUJAR KHAN: Two persons were killed and scores others, including police personnel, were critically injured when local residents protesting against prolonged power outages here on Wednesday went berserk setting ablaze vehicles and offices of the power utility and police as well as a judicial lock-up.
The dear departed, however, could not be identified till filing of this report at midnight.
At about 3pm, the enraged residents gathered at G.T. Road and blocked traffic between Lahore and Rawalpindi. In the meantime, some of the protesters, mostly young men, attacked the offices of executive engineer and SDO (revenue) of Islamabad Electric Supply Company (Iesco) and set the furniture and records on fire.
Later, enforcements called from police constabulary Rawat, Mandra and Jatli police reached the spot and resorted to baton charge and tear gassing the protesters. At this, the mob turned its rage towards the police prompting the latter to open fire into the air.
The protesters, however, continued their assault on the police forcing them to run for cover. Some of the coppers took shelter in the markets and houses in the residential areas while the angry mobs set on fire a bus of Punjab Constabulary Rawat and a van of Rawat police.
During the police firing, at least six young men sustained serious injuries. The rioters then attacked the office of DSP Gujar Khan and set ablaze two police vans parked there and later also torched the whole building. Later, another mob broke the main gate of the judicial lock-up and set free dozens of under-trial prisoners besides burning the record and belongings of the coppers. According to unconfirmed reports, the rioters also snatched weapons from the guards of the lock-up.
One of the guards identified as Jabbar was serious injured. Reports also said over two dozens coppers sustained injuries and some of them were shifted to Rawalpindi hospitals. Out of the six injured protesters, only three could be identified as Naveed, Subhan and Eid Mohammad. Two of the injured were shifted to Rawalpindi while the remaining taken to the Tehsil Headquarters Hospital Gujar Khan.
Malik Asif, the SHO of Gujar Khan, when contacted, said he was not in a position to say anything about the names and whereabouts of the injured coppers.
A large umber of people, including women and kiddies, remained stranded on the highway and the main railway track between Bloody Karachi and Rawalpindi. The DCO and capital police officer Rawalpindi later reached the city and held negotiations with the protesters after which traffic was restored at about 12 midnight. ATTOCK:
Hundreds of people from various parts of Attock city staged a protest demonstration against prolonged power outages here on Wednesday.
The protesters, holding banners and placards and chanting slogans against the government and Iesco, gathered at Fowarah Chowk and later marched to Katchery Chowk where they blocked the Attock-Kamra road by burning tyres.
Addressing the protesters, the speakers condemned Iesco authorities for resorting to prolonged power breakdowns, saying electricity was available just for two to three hours a day in the sweltering heat. The situation has literally pushed the people towards great mental and physical trouble.
People of rural areas are also the worst hit, as they are being provided electricity in half hour`s spells, they added.
The situation has badly affected production in small industrial units and other business sectors, rendering hundreds of workers and daily wagers jobless.
The owners of local tobacco factories, tailors and other mechanical and automobile units are also facing heavy losses.
Educational institutes, printing press and internet cafés are also facing problems due to frequent disconnection of power supply, they added.
Posted by: Fred ||
05/06/2011 00:00 ||
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local residents protesting against prolonged power outages
#2
Allah wills it. Otherwise he would have given Pakistan a society considerably less corrupt at all levels, choosing to spend its limited funds (all governments have limited funds compared to their desires) on infrastructure and education instead of jihadi groups and cool weapons for the army. Have y'all considered a Jasmine revolution?
A May Day rally in Los Angeles, co-sponsored by the SEIU and various communist groups, as well as other unions, reflected yet another step in the normalization of self-identified communist and socialist ideologies in the Obama era. Not only did the SEIU help to organize the rally in conjunction with communists, they marched side-by-side with communists, while union members carried communist flags, communists carried union signs, and altogether there was no real way to tell the two apart.
Southern California citizen journalist and photographer "Ringo" was on hand to record the day's events, and posted a full-length photo essay on his site Ringo's Pictures. To bring this important photo essay to a wider audience, I present here a small selection of Ringo's May Day pictures; visit his site to see dozens more photos from the rally. The mask completely dropped and these people are pushing fulling for the "workers" through the unions. The rest of the US needs to seriously wake up to the communist threat that is the unions, both public and private.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
Egypt's Former Interior Minister Habib al-Adly has been sentenced to twelve years in jail on charges of corruption and profiteering.
Punjab
A May Day rally in Los Angeles, co-sponsored by the SEIU and various communist groups, as well as other unions, reflected yet another step in the normalization of self-identified communist and socialist ideologies in the Obama era. Not only did the SEIU help to organize the rally in conjunction with communists, they marched side-by-side with communists, while union members carried communist flags, communists carried union signs, and altogether there was no real way to tell the two apart.
