Tag Archive: MF Global


Jon Corzine
Courtesy of usapartisan.com/

March 13, 2014

On March 13, the son of Jon Corzine was found dead in Mexico City of an apparent suicide. Jon Corzine was the former CEO of Goldman Sachs, head of MF Global, and Governor of New Jersey, as well as being a long time campaign financier for President Barack Obama.

The son of former New Jersey Gov. Jon Corzine killed himself in a Mexico City hotel, sources told The Post on Thursday.

Jeffrey Corzine, 31, was the youngest of Corzine’s three children with ex-wife and childhood sweetheart Joanne Corzine.. – NY Post

While little is known about the circumstances behind Jeffrey Corzine’s alleged suicide, his death comes on the heels of at least eight unusual banker deaths, many of which were also labeled as suicides despite the near impossibility of one of them being attributed to suicide by nail gun.

Read More Here

…..

‘He made the tragic decision to take his own life’: Youngest son of former New Jersey Governor Jon Corzine commits suicide in Mexico City hotel

  • Jeffrey Corzine took his own life ‘several days ago’ in Mexico City hotel
  • His family traced him through his credit card
  • Had battled addiction through his teens and twenties
  • Jeffrey, 31, was thought to be working as a drug counselor in California
  • He was the youngest of Corzine’s three children with his first wife
  • Corzine’s successor Chris Christie issued a statement of his condolences, calling the death ‘unthinkable’

 

By Meghan Keneally

 

|

 

 

Former New Jersey Governor Jon Corzine’s 31-year-old son, Jeffrey, – who struggled with drug and alcohol addiction – committed suicide at a Mexico City hotel this week, a person familiar with the matter said on Thursday.

Jeffrey Corzine had been living in Malibu, California, and was an aspiring photographer, said the person, who spoke on condition of anonymity and could not name the hotel.

Corzine family spokesman Steven Goldberg confirmed Jeffrey Corzine’s death in a written statement.

 

Jeffrey Corzine is seen at his father's side (right) when he was elected to be the governor of New Jersey in November 2005. His brother, Josh, is also pictured raising his father's hand in victory (left).

Jeffrey Corzine is seen at his father’s side (right) when he was elected to be the governor of New Jersey in November 2005. His brother, Josh, is also pictured raising his father’s hand in victory (left).

 

Young: Jeffrey, who was known to friend as 'Jeff', was the youngest of three siblings

Young: Jeffrey, who was known to friend as ‘Jeff’, was the youngest of three siblings

Discovered: The US Embassy in Mexico City confirmed that Jeffrey Corzine was found dead in a Mexico City hotel 'several days' ago

Discovered: The US Embassy in Mexico City confirmed that Jeffrey Corzine was found dead in a Mexico City hotel ‘several days’ ago

 

‘The sad fact is that Jeffrey Corzine had been suffering from severe depression for several years and recently had been receiving treatment for what is a very painful and debilitating physical and mental ailment,’ Goldberg said.

‘On Tuesday morning, he succumbed to his disease and made the tragic decision to take his own life.’

The family is planning a small, private memorial for Jeffrey, Goldberg said.

 ‘Among many things, the Corzine family hopes Jeffrey will be remembered for his dedication to helping others overcome their struggles with depression and addiction, something to which he had been devoted for the past 10 years,’ he said.

Corzine, who was described by family friends as a ‘lost’ soul, was discovered dead in Mexico City ‘several days’ ago after failing to reply to messages from loved ones.

His friends and family tracked down his whereabouts to his hotel by following his credit card trail.

 

Read More Here

…..

 

Enhanced by Zemanta

Politics, Legislation and Economy News

Banking & Financial Corruption

Published on Aug 20, 2012 by

Bill Black Finance and Fraud Report: Goldman and MF Global avoid criminal charges and Romney accuses of Obama of being a “European”

Bio

William K. Black, author of THE BEST WAY TO ROB A BANK IS TO OWN ONE, teaches economics and law at the University of Missouri � Kansas City (UMKC). He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics. Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement. Black developed the concept of “control fraud” � frauds in which the CEO or head of state uses the entity as a “weapon.” Control frauds cause greater financial losses than all other forms of property crime combined. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae’s former senior management.

The Black Financial and Fraud Report: Agency Says No to Mortgage Relief

Bill Black: The Director of the FHFA says no to Obama on proposal that Fanny and Freddie forgive portions of mortgage when house is “under water” Watch full multipart The Black Financial and Fraud Report:

 
More news at http://therealnews.com

Politics and Legislation

Right Wing Billionaires Push Israel’s Agenda in 2012 Elections

Published on Apr 21, 2012 by

Right-Wing Neoconservatives and former Democrats from Wall Street are teaming up to defeat Obama, but can their attacks on his Israel policy divide his funding base?

Published on Apr 21, 2012 by

speaking in March 2012 David Swanson of “War is a Crime” speaks at the United National Anti-War Coalition conference in Stamford, CT

 

The French Election and the Eurocrisis

Published on Apr 21, 2012 by

Gérard Duménil: Most voters want to save social programs and reject austerity

Suu Kyi’s party threatens to boycott parliament opening

Published on Apr 21, 2012 by

The party of Aung San Suu Kyi, Myanmar’s pro-democracy leader, has threatened to boycott the parliament’s opening session set to take place on Monday.

A senior member of the National League for Democracy’s executive committee said that its 43 newly elected MPs will not take up their seats unless the military-led government withdraws an oath to “safeguard” the constitution, which Suu Kyi wants amended.

Suu Kyi campaigned in the by-elections on a pledge to amend the country’s new constitution which guarantees 25 per cent of all seats to the military.

The NLD has petitioned the constitutional court to change the oath and Suu Kyi has written to Thein Sein, Myanmar’s president, asking him to change the oath by replacing it with a pledge to “respect” the constitution instead.

Larry Jagan, a southeast Asia expert and journalist, has told Al Jazeera that he is optimistic that the boycott would not be a major setback for democratic reforms in the country.

“My understanding is that the boycott is going ahead, but I dont think it means the NLD does not want to work with the government on issues that affect people on the ground, like poverty, development and the ceasefire agreements,” he said.

“The issue with the oath is just deferring them being sworn in.”

 

 

NAACP grades Congress; Louisiana Republicans fail

Published: Saturday, April 21, 2012, 9:00 PM

 

The NAACP has issued its Legislative Report Card for the first session of the 112th Congress, giving Sen. Mary Landrieu, D-La., and Rep. Cedric Richmond, D-New Orleans, A’s, and the Republican members of the state’s Congressional delegation straight F’s. According to the ratings, based on 20 House votes and 15 Senate votes, Richmond was right 100 percent of the time and Landrieu 93 percent of the time, while Sen. David Vitter, R-La., didn’t vote with the NAACP view a single time.

cedric-richmond-horizontal.jpg
Patrick Semansky, The Associated Press archiveRep. Cedric Richmond’s views were in sync with NAACP stands 100 percent of the time, according to the group’s Legislative Report Card.

The Louisiana Republicans had plenty of company with their low grades. The civil rights organization flunked nearly half of all senators, and more than half of House members. Senators were judged on such issues as whether they backed implementation of health care overhaul, opposed a balanced budget amendment to the Constitution, supported public employee job creation, supported the nomination of Richard Cordray to head the Consumer Protection Financial Bureau and supported the Davis-Bacon prevailing wage law.

The only Landrieu vote the NAACP found fault with was her failure to support EPA efforts to regulate greenhouse gas emissions under the Clean Air Act.

 

Read Full Article Here

 

 

 

Whistleblower bill addresses reports of sexual abuse of a minor by a co-worker

Published: Saturday, April 21, 2012, 8:30 PM

A bill aimed at preventing a repeat of the Penn State University sex abuse scandal is heading for final passage in the Louisiana House. Senate Bill 158, which has already been approved by the Senate, was easily approved by the House Labor and Industrial Relations Committee on Thursday.

jpmorrell.jpgFile photoSen. J.P. Morrell

Sponsored by Sen. J.P. Morrell, D-New Orleans, the bill would extend whistleblower protections to employees who report the sexual abuse of a minor by a co-worker. The bill was inspired by the case of assistant Penn State football coach Jerry Sandusky, who has been accused of molesting children for years. Officials at the school are accused of covering up for him.

Another Morrell bill inspired by the Penn State scandal, SB 4, would increase requirements for reporting the sexual abuse of a minor. That bill has already passed the Senate and is headed to the House Criminal Justice Committee.

**********************************************************************************

Economy

Falling Energy Prices: Good for Jobs, Not as Good for Gasoline

By Jeff Macke

Americans suspect one of two things about oil and gas prices: crude is either getting propped up by “speculators” or through the actions of Big Business. In either case, prices at the pump are inflated by capitalism run amok, to the detriment of the American consumer.

It’s not exactly wrong, but there’s another side to the relationship between energy and profit-seeking—one that’s bringing jobs back to the U.S.

In the attached video, David Lutz managing director at Stifel Nicolaus lays out the big picture, starting with why the price of crude oil seems to fall while gas prices either stay where they are or move higher. Lutz says the price of oil is declining because of the “glut of oil we have in the United States.”

Yes, we have too much oil and the price is falling. But that’s only in the U.S., where we quote the price of West Texas Intermediate (WTI) crude. “Brent is the global benchmark for oil,” explains Lutz. In that case, the price of WTI has less of an impact on gasoline than generally assumed—which isn’t to say corporate America isn’t doing its part.

“Refiners here in the country are taking cheap WTI and refining it into diesel or petrol, then they’re shipping it overseas.” Plainly put: Big Oil doesn’t artificially inflate gas prices at all; it simply maximizes profits. For a variety of reasons, both corporate and political, there are too few refineries in the U.S. to meet the demand for Europe’s gas mix and the type of gas used in American cars.

Read Full Article Here

Earnings, Fed to prove skeptics wrong

Reuters

By Rodrigo Campos and Ryan Vlastelica

NEW YORK (Reuters) – After a strong first quarter, Wall Street has gotten a case of the jitters.

A spike in bond yields has brought Europe’s debt crisis back to the forefront. U.S. economic figures point to steady-but-uninspired growth, and stocks have backed off the sharp gains that recently pushed indexes to near four-year highs.

Stocks returned a bit to their winning track this week after strong earnings reports, and investors are waiting to see if more positive surprises from U.S. companies are in store.

Nearly 180 of the S&P 500’s components will report earnings next week, and heading into a seasonally weak period, the market will need strong reports to offset the perception that there’s no more room to rally.

“It is very encouraging that the majority of the news flow is about earnings rather than Europe,” said Leo Grohowski, who oversees about $171 billion in client assets as chief investment officer at BNY Mellon Wealth Management in New York.

Earnings are “alleviating our concerns about economic growth and making us feel more comfortable about our estimates for the year.”

Next week will see earnings releases from several bellwethers. The most important will likely be Apple Inc (NSQ:AAPLNews), which reports after the market close on Tuesday.

While the largest U.S. company by market capitalization has a history of blowout quarters, many say the company’s meteoric rise so far this year has created unrealistic expectations. For the first time since December 2008, the stock fell more than 4 percent in back-to-back weeks.

Read Full Article Here

Fears Rise That Recovery May Falter in the Spring

By: Annie Lowrey

Some of the same spoilers that interrupted the recovery in 2010 and 2011 have emerged again, raising fears that the winter’s economic strength might dissipate in the spring.

Job Classifieds
Photo: Peter Dazeley | Photographer’s Choice | Getty Images

In recent weeks, European bond yields have started climbing. In the United States and elsewhere, high oil prices have sapped spending power. American employers remain skittish about hiring new workers, and new claims for unemployment insurancehave risen. And stocks have declined.

There is a “light recovery blowing in a spring wind” with “dark clouds on the horizon,” Christine Lagarde, managing director of the International Monetary Fund [cnbc explains] , said Thursday, at the start of meetings here that will focus on Europe’s troubles and global growth. Ms. Lagarde implored world leaders not to become complacent.

Forecasters have said that the trends point to a moderation of economic growth in the United States, but they still expect the recovery to continue this year. The slowdown in part reflects an unusually warm winter, which pulled forward economic activity, making January and February seem artificially good and perhaps making recent weeks look worse than they truly were.

Still, the breadth of the recent weakening of activity shows that the economy remains fragile, as is typical in the years following a financial crisis.

The Standard & Poor’s 500-stock index had been generally rising from last summer through March, but has fallen more than 3 percent since early April. Initial jobless claims had been on a long, slow fall since 2011, but have jumped about 6 percent in the last three weeks, according to a Labor Department report released Thursday.

Read Full Article  Here

MF Global: The Untold Story of the Biggest Wall Street Collapse Since Lehman

There are plenty of lessons to be learned from MF Global, all of which we can count on Congress to ignore at the behest of Wall Street money until the next financial crisis.
April 20, 2012  |

Only on Wall Street can you bankrupt a company; misplace $1.6 billion of customers’ money; lose 75 percent of shareholders’ money in two weeks; speed dial a high priced criminal attorney and get a court to authorize the payment of your multi-million dollar legal tab from the failed company’s insurance policies; have regulators waive your requirements to take licensing exams required to work in the securities and commodities industry; have your Board of Directors waive your loyalty to the firm; run a bucket shop out of the UK; and still have the word “Honorable” affixed to your name in a Congressional investigations hearing.

This is not a flashback to the rotting financial carcasses of 2008. This putrid saga has been playing out in five Congressional hearings since December with the next episode scheduled for Tuesday, April 24, before the Senate Banking Committee under the auspicious title: “The Collapse of MF Global: Lessons Learned and Policy Implications.” (The title might more appropriately be, “MF Global: Lessons  Never Learned and Policy Implications of a Wild West Financial System Just One Trade Away from the Next Taxpayer Bailout.”)

 

Read Full Article Here

 

 

Dutch prime minister says austerity talks collapse

April 21, 2012, 11:29 a.m. CDT
AP

THE HAGUE, Netherlands (AP) — The ruling Dutch minority government was on the brink of collapse Saturday after anti-EU lawmaker Geert Wilders torpedoed seven weeks of austerity talks, saying he would not cave in to budget demands from “dictators in Brussels.”

New national elections that will be a referendum on the Netherlands’ relationship with Europe and its ailing single currency are now all-but-certain.

But before Prime Minister can tender his resignation — possibly as early as Monday — he must consult with allies and opposition parties on how to run a caretaker government that will have to make important economic decisions in the coming weeks and months.

“Elections are the logical next step,” Rutte said.

Opposition leader Diederik Sansom of the Labor Party joined others across the political spectrum in calling for new elections as soon as possible.

“In the meanwhile, we in parliament will take responsibility for a careful budget in 2013,” he said.

 

Read Full Article Here

***********************************************************************************

Wars and Rumors of War

UN approves Syria monitor mission

Published on Apr 21, 2012 by

The UN Security Council has unanimously adopted a resolution that authorizes an initial deployment of up to 300 unarmed military observers to Syria for three months to monitor a fragile week-old ceasefire in the country’s 13-month old conflict.

The Russian and European drafted resolution said that deployment of the UN observer mission, which will be called UNSMIS, will be “subject to assessment by the Secretary-General [Ban Ki-moon] of relevant developments on the ground, including the cessation of violence”.

Saturday’s resolution also noted that the cessation of violence by the government and opposition is “clearly incomplete”.

Al Jazeera’s Kristen Saloomey reports from the UN in New York.

‘Gasoline kills West’s concern over abuses in Bahrain’

Published on Apr 22, 2012 by

Patrick Henningsen, a journalist and editor of the 21st Century Wire, believes that the West will not care about human rights issue in Bahrain as long as it acts and votes in accordance with US foreign policy. “Generally they don’t care in Washington or London what the Bahrainis do to their own people.” He points out that Bahrain is a satellite state of Saudi Arabia and a satellite state in the region of the US and Britain. “They have incredible vested interests there in terms of petroleum contracts etc.” The journalist also stresses the island’s proximity to Iran makes it a strategic defense location in the Persian Gulf.

 

 

 

Gen. Dempsey: US in for ‘wild ride’ in the Middle East over the next decade

By Carlo Munoz

America is heading into an increasingly tumultuous decade in the Middle East, punctuated by repeated popular uprisings that will continue to dismantle long-standing power structures in the region, according to the Pentagon’s top uniformed officer.

Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, said he believes the fallout from the ongoing Arab Spring movement will eventually lead to a more democratic Middle East.

“I think getting from here to there is going to be a wild ride. And so I think we’re in for 10 or 15 years of instability in a region that has already been characterized by instability,” Dempsey told members of the House Armed Services Committee during Thursday’s hearing.

That approaching period of increased instability comes as the Pentagon is beginning to shift its focus from the Middle East to the Pacific. The move was a key tenet in the White House’s new national security strategy issued in February.

But as the U.S. military sets its sights on greater Asia, defense lawmakers wanted to know if the Pentagon is prepared for the looming chaos Dempsey predicted in the Middle East.
  Read Full Article Here

***********************************************************************************

Articles of Interest

ACLU says more debtors are sent directly to jail

 

Should you go to jail for being unable to pay a small bill? Debtors’ jail has been abolished in the United States since the 1830s, but a study by the American Civil Liberties Union has pointed out a de facto debtors’ prison has emerged, with debtors put in handcuffs for showing “contempt of court” when creditors harass them with summons at what the ACLU calls increasingly alarming rates. One teacher’s aide and breast cancer survivor was thrown in prison for not paying a $280 medical bill that she had been told she received in error. Using public courts and services funded by tax dollars to pressure collection of private debts is even encouraged by some states, such as Alabama and Florida, which add hefty collection fees to debtors’ payment plans.

 

 

Jailed for $280: The return of debtors’ prisons

By
Alain Sherter
 (istockphoto)

(MoneyWatch) How did breast cancer survivor Lisa Lindsay end up behind bars? She didn’t pay a medical bill — one the Herrin, Ill., teaching assistant was told she didn’t owe. “She got a $280 medical bill in error and was told she didn’t have to pay it,” The Associated Press reports. “But the bill was turned over to a collection agency, and eventually state troopers showed up at her home and took her to jail in handcuffs.”

Although the U.S. abolished debtors’ prisons in the 1830s, more than a third of U.S. states allow the police to haul people in who don’t pay all manner of debts, from bills for health care services to credit card and auto loans. In parts of Illinois, debt collectors commonly use publicly funded courts, sheriff’s deputies, and country jails to pressure people who owe even small amounts to pay up, according to the AP.

 

Read Full Article  Here

 

 

‘Presidential’ vs. ‘Political’ Trips: A Blurry Line, and Tricky Math

Luke Sharrett for The New York Times

President Obama heading to fund-raising events last month in Chicago and Atlanta.

By JACKIE CALMES
Published: April 21, 2012
Doug Mills/The New York Times

Presidential travel in election years has long been an issue.

And that was the nonpolitical stop on Mr. Obama’s swing-state itinerary for that day early this month. The president sandwiched the 34-minute speech, billed as an official address on his so-called Buffett Rule for a minimum tax rate for the wealthiest Americans, amid three overtly partisan fund-raisers that accounted for the bulk of his time along the south Florida coast.

Mixing policy and politics, Mr. Obama is picking up the pace of his travel with that ultimate incumbent’s perk — unlimited use of Air Force One. The trips are mostly to about a dozen swing states that will decide the election and to two reliably Democratic states, New York and California, for campaign money.

And Mr. Obama is not the only frequent flier with a re-election agenda. Both Vice President Joseph R. Biden Jr. and the first lady, Michelle Obama, are increasingly stumping around the country as the campaign seeks to repeat its fund-raising success of 2008 and counter a building wave of G.O.P. cash.

 

Read Full Article Here

************************************************************************************

[In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit, for research and/or educational purposes. This constitutes ‘FAIR USE’ of any such copyrighted material.]

Politics and Legislation

 

Obama Impeachment Bill Now In Congress

CURATOR: BARRACUDA.

Rep. Walter B. Jones Jr., R-N.C., has introduced a resolution declaring that should the president use offensive military force without authorization of an act of Congress, “it is the sense of Congress” that such an act would…

http://beforeitsnews.com/story/1880/374/NL/Obama_Impeachment_Bill_Now_In_Congress.html

 

Supreme Court Likely to Endorse Obama’s War on Whistle-Blowers

Chris Hedges, Truthdig Op-Ed:

“Obama, who serves the interests of the surveillance and security state with even more fervor than did George W. Bush, has used the Espionage Act to charge suspected leakers six times since he took office. The latest to be charged by the Obama administration under the act is John Kiriakou, a former CIA officer accused of disclosing classified information to journalists about the interrogation of Abu Zubaydah, an al-Qaida suspect.”

http://www.nationofchange.org/supreme-court-likely-endorse-obama-s-war-whistle-blowers-1331646554

 

Though 69 Percent Of Americans Want Super PAC Ban, Super PACs Dominate GOP Race

Josh Israel, News Report:

“Independent expenditure-only “super PAC” committees have accounted for a stunning 91 percent of the television campaign advertising over the past month in Alabama and Mississippi — the two states holding their Republican primaries today. But while the more than $75 million already spent nationally by these groups has undoubtedly altered the dynamics of the presidential race, it has also annoyed the vast majority of Americans.”

http://www.nationofchange.org/though-69-percent-americans-want-super-pac-ban-super-pacs-dominate-gop-race-1331653397

 

The Hill: Justice blocks Texas voter ID law

By Justin Sink

The Justice Department on Monday blocked a new Texas law that requires government-issued photo identification at the polls, further inflaming an intense and racially charged election-year debate over voting requirements.

http://thehill.com/homenews/administration/215617-justice-blocks-texas-voter-id-law

 

The Hill: Dems targeted over support for healthcare law’s ‘rationing board


By Julian Pecquet

The conservative seniors’ lobby 60 Plus launched a $3.5 million ad campaign on Monday targeting five vulnerable Senate Democrats over their support for the healthcare reform law’s cost-control board.

http://thehill.com/blogs/healthwatch/politics-elections/215557-vulnerable-democrats-targeted-over-support-for-healthcare-rationing-board

 

Economy

 

SEC charges five with insider trading from AA tip

(Reuters) – Securities regulators charged two Ameriprise Financial advisers and three others with insider-trading, saying they made $1.8 million in illicit profits based on confidential merger information one of the advisers learned through an Alcoholics Anonymous relationship.

The Securities and Exchange Commission said Timothy McGee, one of the advisers, was tipped about a pending merger of insurer Philadelphia Consolidated Holding Corp and Tokio Marine Holdings.

http://finance.yahoo.com/news/sec-charges-five-insider-trading-211538137.html;_ylt=Aq62i05wUbMSbhRRDjEpo_eiuYdG;_ylu=X3oDMTQ0b2h1Zzc4BG1pdANGaW5hbmNlIEZQIFRvcCBTdG9yeSBSaWdodARwa2cDZjM5ZGQ0NjctNjcxOC0zY2E3LTgxYWMtZmMxYTA5ZDY4NWFmBHBvcwM2BHNlYwN0b3Bfc3RvcnkEdmVyAzdhNjY1YjIwLTZkNWQtMTFlMS1iNTlmLWY5NGIxOGVlOTc4MA–;_ylg=X3oDMTFvdnRqYzJoBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3.

 

The Audacity of Bonuses at MF Global

Nomi Prins, Op-Ed:

“Today, our regulatory bodies are incapable, or simply don’t want to be bothered with, tracing money and returning it to the public customers to whom it belongs. The inability to independently examine MF Global’s books, without its executive involved, reveals the sorry state of our financial system. In this post-Glass-Steagall-repeal world, the mixing of customer money and speculative betting – whether at a super-market bank or broker-dealer, whether involving subprime loans packages or European Sovereign debt, poses too dangerous a level of complexity.”

http://www.nationofchange.org/audacity-bonuses-mf-global-1331647564

 

Germany Fails To Meet Its Own Austerity Goals

As she travels from one European Union summit to the next, Angela Merkel’s constant mantra in recent months has been austerity, austerity, austerity. But apparently the German chancellor hasn’t been quite as strict when it comes to her own country’s budget.

http://www.spiegel.de/international/germany/0,1518,820828,00.html

 

Energy Secretary Chu disavows 2008 remark that he wants higher gas prices

By Andrew Restuccia

Energy Secretary Steven Chu disavowed Tuesday his 2008 comments about increasing gas prices to European levels, remarks that Republicans have pounced on in recent weeks.

“I no longer share that view,” Chu said during a Senate Energy and Natural Resources Committee hearing, adding that he wants to lower gas prices.

Chu said higher gas prices could slow the economic recovery.

http://thehill.com/blogs/e2-wire/e2-wire/215751-energy-secretary-chu-disavows-2008-gas-price-remarks

Oil prices fall as China data sparks fresh demand worries

London (AFP)

World oil prices dropped on Monday as investors fretted over the strength of worldwide energy demand following weak Chinese economic data. New York’s main contract, West Texas Intermediate crude for delivery in April, shed $1.06 to $106.34 a barrel. Brent North Sea crude for April was down 65 cents at $125.33 in late afternoon deals. “Crude oil fell sharply…

http://www.energy-daily.com/reports/Oil_prices_fall_as_China_data_sparks_fresh_demand_worries_999.html

Oil price volatility in focus at world energy forum

Kuwait City (AFP)

The world’s largest energy forum began meetings on Monday over oil price fluctuations and safeguarding supplies amid heightened tensions over Iran’s nuclear programme and a softening in global growth. Oil ministers and delegates from the 88-member International Energy Forum (IEF) are holding their biennial three-day gathering in the Gulf emirate of Kuwait to discuss the role of the forum…

http://www.energy-daily.com/reports/Oil_price_volatility_in_focus_at_world_energy_forum_999.html

Consumers line up to buy Chinese-Venezuelan cars

Caracas (AFP)

Just weeks after the opening of four Chery dealerships in Venezuela, dozens of people are lining up every day to buy the first Chinese cars being sold in the Latin American nation. Unlike competing Japanese and American cars, import preferences granted by the Venezuelan government mean the Chinese cars are cheaper, which has attracted a steady stream of interested customers. “I came to b …

http://www.spacemart.com/reports/Consumers_line_up_to_buy_Chinese-Venezuelan_cars_999.html

 

Haynesville Shale Continues to Favour Louisiana over East Texas

London, UK (SPX)

Gas production from the US Haynesville Shale continues to favour the state of Louisiana over East Texas, with the former set to become a major gas producing state while pipeline development in East Texas continues to slow, a new report by business intelligence expert GlobalData has found. The new report found that several major gas companies are funding extensive infrastructure development …

http://www.energy-daily.com/reports/Haynesville_Shale_Continues_to_Favour_Louisiana_over_East_Texas_999.html

Oil and Gas is One of the Fastest Growing Segments of the Energy Sector in China

Kolkata, India (SPX)

Netscribes has announced the launch of its report, Oil and Gas Market in China 2012. The Oil and Gas sector in China is expected to witness tremendous growth owing to the robust growth of the economy of China. The report begins with a detailed overview of the global oil and gas market that includes detailed coverage of global production, consumption and reserves for both oil and gas. This …

http://www.energy-daily.com/reports/Oil_and_Gas_is_One_of_the_Fastest_Growing_Segments_of_the_Energy_Sector_in_China_999.html

 

Warning of ‘real’ anger at banks

Press Association,

Sir Mervyn told The Times that Britain’s banks are in denial about public anger over their behaviour.

And he hit out at them for insisting everyone needed to live with “market disciplines” until the financial crisis hit when they asked for bail outs.

“Market discipline can’t apply to everyone except banks,” he told the newspaper, adding people’s anger was “very real and wholly understandable”.

http://www.guardian.co.uk/uk/feedarticle/10139179

 

Greek debt swap could be short-lived reprieve

(Reuters) – Greece’s deep recession and unpredictable elections threaten to turn the biggest debt restructuring in history into yet another short-lived reprieve, although the existential threat posed to the euro zone is not what it was.

http://uk.reuters.com/article/2012/03/11/uk-greece-idUKBRE8270FF20120311

 

Alert From European Investment Banker

Mach 12, 2012

Steve,

I am someone who has worked for one of the largest investment banks in the world RBS and I can tell you that the contagion of debt has run its course. We are already prepped for a Greek default this month especially since the recent downgrade by Fitch.

http://stevequayle.com/News.alert/12_Money/120312.Euro.banker.html

 

Collapse Coming–Not Recovery

By Greg Hunter’s USAWatchdog.com (Revised)

The way the latest unemployment numbers were reported by the mainstream media (MSM), you would think the Great Recession was over and the United States was solidly on the road to recovery. The Associated Press reported the numbers by the Bureau of Labor Statistics (BLS) with a story that said, “The United States added 227,000 jobs in February, the latest display of the breadth and strength of the economic recovery. The country has put together the most impressive three months of job growth since before the Great Recession. The unemployment rate stayed at 8.3 percent. It was the first time in six months it didn’t fall, and that was because a half-million Americans started looking for work.”….

http://usawatchdog.com/collapse-coming-not-recovery/

 

Handicapping the Collapse

Scattered diverse and almost uniformly unfavorable and dangerous events are unfolding, as the global economy and financial structure undergoes the equivalent of endless earthquakes and bombardment of solar emissions. Reporting is difficult, since information is distorted toward the sunny side. Events are moving fast, as quickly as the danger level is rising. As conditions worsen, the hype and spin has risen almost out of control. The political machine, tied at the hip to the banking apparatus, has ramped up the growth story even as the strain on the information spin has become more visible and subject to heavy criticism…..

http://news.goldseek.com/GoldenJackass/1331326800.php

 

 

Wars and Rumors of War

 

‘MKO conducts assassinations for Mossad for funding’

An American political commentator says that the primary source of income for the terrorist Mojahedin-e Khalq Organization (MKO) comes from assassinations it performs against Iranian nationals at the behest of Israel’s spy agency Mossad.

http://www.presstv.ir/detail/231280.html

 

Yet another reason to leave: US soldier allegedly kills Afghan women and children

According to Afghan officials who visited the scene of the murders, some 16 people, nearly all of which were women and children, have been killed by a lone American soldier.

http://www.blacklistednews.com/Yet_another_reason_to_leave%3A_US_soldier_allegedly_kills_Afghan_women_and_children/18427/0/38/38/Y/M.html

 

Secret SAS squadron sent to spy in Africa

A SECRET squadron of Australian SAS soldiers has been operating at large in Africa, performing work normally done by spies, in an unannounced and possibly dangerous expansion of Australia’s foreign military engagement. The deployment of the SAS’s 4 Squadron – the existence of which has never been publicly confirmed – has put the special forces unit at the outer reaches of Australian and international law. A SECRET squadron of Australian SAS soldiers has been operating at large in Africa, performing work normally done by spies, in an unannounced and possibly dangerous expansion of Australia’s foreign military engagement.

http://stratrisks.com/geostrat/4622

 

Scientists Warn EPA Over Monsanto’s GMO Crop Failures, Dangers

By Anthony Gucciardi
BlacklistedNews

A group of scientists is calling for major federal action in order to deal with the threat posed by Monsanto’s GMO crops, now petitioning the EPA to address the issue head on. The group of 22 academic corn experts are drawing attention to the immense failure of Monsanto’s genetically modified corn, which is developing mutated and resistant insects as a result of its widespread usage.

http://www.blacklistednews.com/Scientists_Warn_EPA_Over_Monsanto%E2%80%99s_GMO_Crop_Failures%2C_Dangers_/18421/0/0/0/Y/M.html

 

Aircraft Carrier Enterprise Sets Off On Final Journey – Direction Iran

Today at noon Eastern, the storied aircraft carrier Enterprise, aka CVN-65, left its home port of Naval Station Norfolk one final time for its final voyage with a heading: Arabian Sea, aka Iran. There in a week it will join CVN 72 Lincoln and CVN 70 Vinson, as well as LHD 8 Makin Island, all of which are supporting any potential escalation of “hostilities” in the Persian Gulf region. As a reminder, back in January we learned that the Enterprise’s final voyage will be in proximity to Iran, and in the meantime, the aircraft carrier held extended drills off the Florida coast to attack a “faux theocracy” consisting of fundamentalist “Shahida” states. Why the Arabian Sea in about 7-10 days will be home to not two but three aircraft carriers and a big deck amphibious warfare ship is very much an open question, although we may have some thoughts.

http://www.zerohedge.com/news/aircraft-carrier-enterprise-sets-final-journey-direction-iran

 

With Iran, Threat Inflation Is the Threat

William Astore, Op-Ed:

“If a nuclear-armed Iran is indeed the greatest threat we as a nation face, that is indeed good news. Even better: Our latest intelligence estimate suggests that Iran still doesn’t have a nuclear weapon, nor is it clear whether its leaders have decided to build one. Iran also lacks a delivery system capable of striking the United States. Even if Iran decided to build a bomb and succeeded, any Iranian leader would be foolhardy in the extreme to threaten the United States, which still has thousands of nuclear warheads of its own — and plenty of delivery systems.”

http://www.nationofchange.org/iran-threat-inflation-threat-1331651695

 

Obama: US ‘heartbroken’ over Afghan civilians killed in attack

By Amie Parnes

President Obama said Tuesday that the U.S. is “heartbroken” over the Afghan civilians killed by a U.S. soldier and takes the deaths as “seriously” as if the victims were our own.

Obama spoke as violence in Afghanistan began to escalate two days after a U.S. soldier killed more than a dozen Afghan civilians in an apparent rogue attack.

“The United States takes this as seriously as if it was our own citizens and our own children who were murdered,” Obama said during brief remarks in the Rose Garden. “We are heartbroken over the loss of innocent life.”

http://thehill.com/blogs/defcon-hill/operations/215729-obama-us-heartbroken-over-afghan-civilians-killed-in-attack

 

The Hill: Report: Panetta says death penalty possible in Afghanistan shootings

By Jeremy Herb

Defense Secretary Leon Panetta said Monday that the death penalty is a possibility for the Army soldier who killed at least 16 Afghans Sunday, the Associated Press reported.

http://thehill.com/blogs/defcon-hill/policy-and-strategy/215635-report-panetta-says-death-penalty-possible-in-afghan-shootings

 

Environmental

 

Feds Let BP Off Probation Despite Pending Safety Violations

Abrahm Lustgarten, News Report:

“BP’s refining subsidiary was released today from criminal probation related to a 2005 explosion in Texas City that killed 15 workers. The company has addressed the most serious safety deficiencies exposed by the accident and satisfied the terms of a felony plea agreement to settle charges that it failed to protect workers from known risks, a U.S. Justice Department spokesman said.”

http://www.nationofchange.org/feds-let-bp-probation-despite-pending-safety-violations-1331650012

 

CyberSpace

 

Court Declares Newspaper Excerpt on Online Forum is a Non-Infringing Fair Use

Late Friday, the federal district court in Nevada issued a declaratory judgment that makes is harder for copyright holders to file lawsuits over excerpts of material and burden online forums and their users with nuisance lawsuits.

The judgment – part of the nuisance lawsuit avalanche started by copyright troll Righthaven – found that Democratic Underground did not infringe the copyright in a Las Vegas Review-Journal newspaper article when a user of the online political forum posted a five-sentence excerpt, with a link back to the newspaper’s website.

https://www.eff.org/deeplinks/2012/03/court-declares-newspaper-excerpt-online-forum-non-infringing-fair-use

 

Green

 

US wind generation increases by 27 percent

Washington (IANS)

Wind generation in the US increased by 27 percent in 2011 as compared with 2010, continuing a trend of rapid growth, the government said Monday. Tax credits and grants for electricity from certain renewable sources have encouraged capacity additions and increased generation from wind and other renewable sources, the US Energy Information Administration (EIA) said Monday. Wind energy is the largest source of non-hydroelectric renewable electricity in the US, contributing 61 percent of the nea …

http://www.winddaily.com/reports/US_wind_generation_increases_by_27_percent_999.html

 

China solar giant faces glare of US trade row

by Staff Writers
Wuxi, China (AFP)

In the eastern Chinese city of Wuxi, home to the world’s biggest maker of solar panels, labour is so cheap that workers carry out jobs by hand while machines designed to perform the same tasks sit idle.

The low cost of labour, coupled with the massive scale of production at its 14,000-person plant, have enabled China’s Suntech to become the global industry leader in just a decade.

http://www.solardaily.com/reports/China_solar_giant_faces_glare_of_US_trade_row_999.html

 

Nuclear

 

Activists tap court to block Japan reactor restart

by Staff Writers Tokyo (AFP)

A group of Japanese citizens filed a lawsuit Monday to prevent the restart of a nuclear power plant, a day after the first anniversary of the tsunami that sparked the Fukushima atomic disaster.

The group of 259 citizens filed the suit in Osaka District Court seeking an injunction that would block the reopening of utility Kansai Electric’s nuclear power plants Oi Unit 3 and 4 in central Fukui prefecture.

http://www.nuclearpowerdaily.com/reports/Activists_tap_court_to_block_Japan_reactor_restart_999.html

 

Kolkata protest against PM comment on Kudankulam project

by Staff Writers Kolkata, India (IANS)

A group of Kolkata residents Monday held a 12-hour fast against Prime Minister Manmohan Singh’s comments on agitations centred around the Kudankulam nuclear power plant (KNPP) in Tamil Nadu and wrote to him demanding the scrapping of the project.

The prime minister, in an interview to Science magazine in February, reportedly blamed NGOs from the US and Scandinavia for fuelling protests against the nuclear plant.

http://www.nuclearpowerdaily.com/reports/Kolkata_protest_against_PM_comment_on_Kudankulam_project_999.html

 

Fukushima prefecture aims for green power

by Staff Writers Tokyo (UPI)

As Japan marked the first anniversary of the earthquake and tsunami that crippled the country’s Fukushima nuclear power plant, the governor of Fukushima prefecture called for terminating nuclear power and promoting renewable energy.

“We will call for all nuclear power stations in the prefecture to be shut down so that an accident like this never happens again,” Fukushima Gov. Yuhei Sato said Sunday of the worst nuclear crisis since the 1986 Chernobyl disaster in Ukraine.

http://www.solardaily.com/reports/Fukushima_prefecture_aims_for_green_power_999.html

 

Responding to the Radiation Threat

by Lynn Yarris for Berkeley News
Berkeley CA (SPX)

Mass contamination from major radiation exposure events, such as the meltdown at Japan’s Fukushima Daiichi nuclear power plant, require prompt treatment in the form of a pill, such as the treatment being developed at Berkeley Lab. File image courtesy AFP.

The New York Times recently reported that in the darkest moments of the triple meltdown last year of the Fukushima Daiichi nuclear power plant, Japanese officials considered the evacuation of the nearly 36 million residents of the Tokyo metropolitan area.

http://www.nuclearpowerdaily.com/reports/Responding_to_the_Radiation_Threat_999.html

 

Misc

 

NYPD officer thrown in psych ward by superiors after revealing systemic corruption

Madison Ruppert, Contributing Writer

Adrian Schoolcraft of the New York Police Department’s (NYPD) 81st precinct in Brooklyn noticed some disturbing trends within the department and in response to his brave move to step forward, his superiors had him thrown in a psychiatric ward.

Schoolcraft realized that there was a pattern of the victims of crimes being caught up in bureaucratic hurdles which he thinks were deliberately put in place in order to make it harder to report serious crimes.

He then did his job and reported multiple incidents to investigators in 2009.

http://www.blacklistednews.com/NYPD_officer_thrown_in_psych_ward_by_superiors_after_revealing_systemic_corruption_/18420/0/0/0/Y/M.html

 

DOJ Asks Court To Keep Secret Any Partnership Between Google, NSA

The Justice Department is defending the government’s refusal to discuss—or even acknowledge the existence of—any cooperative research and development agreement between Google and the National Security Agency.

http://legaltimes.typepad.com/blt/2012/03/doj-asks-court-to-keep-secret-any-partnership-between-google-nsa.html

 

DARPA’s Director Will Soon Be a Google Executive

You probably don’t know Regina Dugan’s name, but for the past three years, she’s been director of DARPA, the military’s R&D lab. In a few weeks, she’ll be moving into an executive position at Google, becoming one of the most senior military officials to cross over to the private sector.

http://www.theatlanticwire.com/business/2012/03/darpas-director-will-soon-be-google-executive/49799/

 

Portable chargers, boosters to ease green car charging woes

Geneva (AFP)

Chevrolet Europe’s president Susan Doherty drives to work every day in an electric car, and thanks to a recharging station at work, she never worries about running out of power. For most other people, however, it remains a challenge to find electric charging stations to refuel. As a result sales of electric cars have lagged, with most consumers going for hybrid options that at least offe …

http://www.spacemart.com/reports/Portable_chargers_boosters_to_ease_green_car_charging_woes_999.html