Tag Archive: News Corp


Politics and Legislation

Watchdog claims more evidence of leaks by labor board member

By Kevin Bogardus

The inspector general for the National Labor Relations Board (NLRB) claims to have uncovered more evidence that a Republican member leaked confidential information.

Terence Flynn, a GOP member of the NLRB who was recess-appointed by President Obama in January, is accused of making additional disclosures of non-public information to Peter Schaumber, a former NLRB member.

The supplemental inspector general (IG) report, dated April 30, alleges that Flynn released confidential information while serving as an agency chief counsel. The information that Flynn leaked, according to the IG, included four dissents and a draft of an NLRB decision.

Flynn also helped edit Schaumber’s op-eds on NLRB issues and forwarded him a January 2011 email from then-NLRB Chairwoman Wilma Liebman outlining her priorities for the agency that year, according to the report.

The 13-page report by Dave Berry, the NLRB’s inspector general, says Flynn broke ethics rules by leaking the information. He recommended that the labor board review the findings and decide on an appropriate course of action.

“We conclude that the issues identified in this report, and those of the prior report, evidence a serious threat to the Board’s decisional due process. We recommend that the Board review these facts to determine appropriate action,” the report says.

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Israel high court hears hunger striker appeals

Palestinians prisoners are staging hunger strikes to protest Israel’s use of administrative detention orders. (Reuters)

Palestinians prisoners are staging hunger strikes to protest Israel’s use of administrative detention orders. (Reuters)

By AFP
JERUSALEM

Two Palestinians who have been on hunger strike for 65 days appeared before Israel’s Supreme Court on Thursday to appeal their detention without charge, their lawyer told AFP.

Bilal Diab and Thaer Halahla are both staging hunger strikes to protest Israel’s use of administrative detention orders, under which military courts can order individuals to be held without charge for periods of up to six months, which can be renewed indefinitely.

Jamil Khatib, who is representing both men, said his address to the court focused on what he called the “illegality” of administrative detention.

“The appeal focused on two sides, the illegality of administrative detention in general, in terms of why they are being held, and secondly why Thaer and Bilal took this step to shed light on administrative detention,” Khatib said.

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Bahrain’s king enacts parliamentary reforms, hopes for national accord

Bahrain’s King Hamad bin Isa al-Khalifa said he will seek stronger supervision of government operations in light of new parliamentary reforms. (Reuters)

Bahrain’s King Hamad bin Isa al-Khalifa said he will seek stronger supervision of government operations in light of new parliamentary reforms. (Reuters)

By AL ARABIYA WITH REUTERS

Bahrain’s king ratified constitutional reforms on Thursday in an effort to curb a year of protests and open “a door for national dialogue,” he said in a speech broadcast on state television.

Bahrain, which hosts the U.S. Fifth Fleet, has been in turmoil since activists launched protests in February 2011 after successful popular revolts in Egypt and Tunisia.

“The door of dialogue is open and national accord is the goal of all dialogue,” King Hamad bin Isa al-Khalifa said in a ceremony broadcast on state television. “We hope at this important stage that all national forces and groups…will join in development and reform.”

King Hamad also said he will seek stronger supervision of government operations.

The state television named the amendments “the consensus of a people.”
The amendments, which boost powers to question and remove ministers and withdraw confidence in the cabinet, stem from a national dialogue the king organized after last year’s uprising.

This was his second televised speech this year announcing the amendments after he appeared in January.

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Yemenis call for purges of ex-leader’s loyalists

Rallies organized by youth groups were held in the capital, Sana’a, and several other cities in Yemen. (Reuters)

Rallies organized by youth groups were held in the capital, Sana’a, and several other cities in Yemen. (Reuters)

By THE ASSOCIATED PRESS
SANA’A

Tens of thousands of Yemenis took to the streets Thursday to demand dismissal of members of the country’s former regime from top military posts.

Rallies organized by youth groups were held in the capital, Sana’a, and several other cities. Protesters carried banners urging Yemen’s new president, Abed Rabbo Mansour Hadi, to “purge the army of family members” of his predecessor, Ali Abdullah Saleh.

After a year of uprising and turmoil, Saleh handed power to Hadi in February, but several Saleh loyalists and relatives are hanging on to key military posts and refusing to step down.

Saleh has been accused of meddling in the country’s affairs and obstructing efforts by Hadi to carry out much-needed reforms.

The U.N. envoy to Yemen, Jamal Benomar, has been meeting Saleh’s family members to try to persuade them to comply with Hadi’s orders. He said Thursday that a Saleh crony has finally agreed to hand over command of the elite Republican Guard.

Hadi has made restructuring the Yemeni armed forces his top priority, essential in combating al-Qaeda forces in the south.

Islamic militants linked to the terror group have taken over several towns in the south during Yemen’s long political and security vacuum.

In the latest battle, the Defense Ministry said Thursday that eight al-Qaeda militants were killed in clashes in Zinjibar, the provincial capital of Abyan province. The military has taken over several parts of the city, an AL-Qaeda stronghold.

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Drugmakers’ Deal With Obama Said to Be Probed by House

By Drew Armstrong

Pfizer Inc. (PFE) and Merck & Co. (MRK) are being pulled into an expanding congressional investigation about the agreement drugmakers reached with the Obama administration to support the Democrats’ overhaul of the U.S. health-care system, according to three people familiar with the talks.

The probe began last year, with Republicans on the House Energy and Commerce Committee seeking documents from an industry trade group, said the people, who aren’t authorized to speak publicly. When that group didn’t cooperate, the panel decided to target Pfizer, the world’s biggest drugmaker, along with Merck, Amgen Inc. (AMGN), Abbott Laboratories (ABT) and AstraZeneca Plc (AZN), said one of the people.

A man walks past Pfizer Inc. headquarters in New York. Photographer: Peter Foley/Bloomberg

The Republicans last month began negotiating directly with the companies in e-mails, calls and meetings demanding documents and information outlining what the industry agreed to with President Barack Obama in 2009 and 2010, when the law was being worked on in Congress. Michael Burgess, a Representative from Texas, said he’s been frustrated by a lack of cooperation.

“This has been like pulling teeth, trying to get information,” said Burgess, a Republican working on the panel’s investigation, in a telephone interview.

A White House spokesman declined to comment about the investigation. Peter O’Toole, a spokesman for New York-based Pfizer, said the company is cooperating, as did Tony Jewell, an AstraZeneca spokesman. Kelly Davenport, a spokeswoman for Thousand Oaks, California-based Amgen, said the drug maker is aware of the probe.

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Economy

Gold Price Drops Three Straight Months For First Time Since 2001

Adrian Ash Adrian Ash, Contributor

Between March 2001 and April 2012, the price of gold never fell for 3 months in succession. “Two months max”made for a great slogan and signal to buy on pullbacks, most recently in January 2010, your last chance to do so below $1,100, and April 2009, which was your last chance to buy below $900. Divide by ten and we’re talking about the price of the GLD.

Until April 2012 that third down month just never came.
Gold Price Breaks 3-Month Rule
Three consecutive months of falling gold prices are so rare that you can count the occurrences. Since 1957 in fact, they’ve struck only 65 times in a total of 661 three-month periods.

These three-month drops – let’s call them recessions to save me having to re-title these charts again – are rarer still in the U.S. stock market.

The S&P 500 index has delivered only 55 runs of 3-month drops over the same 55-year period.

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Wall Street drops before jobs data, LinkedIn up late

Reuters

By Edward Krudy

NEW YORK (Reuters) – Stocks fell on Thursday as economic data sent mixed signals on the recovery a day before the April payrolls report, while shares of Green Mountain (GMCR) plunged after poor results.

Slower-than-expected growth in the dominant U.S. services sector drove the day’s trading. The retail sector dragged the market lower after several chains, including Target Corp (TGT) and Gap Inc (GPS), fell after missing April sales estimates.

Market expectations for Friday’s non-farm payrolls report have fallen this week. Traders now suspect the economy added 125,000 to 150,000 jobs in April, below a Reuters consensus forecast of 170,000. One trader said there had even been some talk of a number below 100,000.

Still, the S&P 500 kept up its flirtation with new four-year highs, although it has struggled to rise above resistance at the 1,400 level.

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Treasury: Tax receipts not changing deadline on $16.4T debt limit

By Peter Schroeder

Lawmakers will not have to re-fight their epic battle over raising the debt ceiling until after the November elections, according to the Treasury Department.

April tax receipts have not moved Treasury’s debt-ceiling target date, and Secretary Timothy Geithner still expects lawmakers will have until the tail end of 2012 to raise the $16.394 trillion ceiling.

“Treasury anticipates that the debt limit will not be reached again until late this year,” a Treasury spokesman told The Hill on Wednesday.

Lower-than-expected tax receipts could have moved up the date on the debt ceiling, forcing a vote both parties would like to avoid before the election.

The government has borrowed $15.673 trillion, and the limit is still too far off for Treasury to more accurately predict when it will be reached, an official said Wednesay.

But the Treasury spokesman insisted the agency has the tools to prevent the United States from going over the limit if it draws near prior to Nov. 6, when voters go to the polls.

“If the debt limit were to be reached prior to the 2012 elections, Treasury would be able to invoke extraordinary measures to extend borrowing authority beyond the next elections,” the spokesman said.

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Cummings: Regulator wasting taxpayer money by refusing principal forgiveness

By Mike Lillis – 05/02/12 05:19 PM ET

The country’s top housing regulator is frittering away taxpayer dollars by refusing to reduce mortgage principal for struggling homeowners, Rep. Elijah Cummings (D-Md.) charged Wednesday.

Edward DeMarco, head of the Federal Housing Finance Agency (FHFA), has declined to write down the principal for loans backed by Fannie Mae and Freddie Mac, arguing that other anti-foreclosure strategies create bigger returns for the bailed-out mortgage giants.

Cummings, the senior Democrat on the House Oversight and Government Reform Committee, said principal forgiveness “saves more money than any other type of modification,” and suggested DeMarco is shirking his duties by taking that option off the table.

DeMarco, Cummings said, “has a duty and an obligation to allow the use of principal reduction” but has so far “refused to allow Fannie Mae and Freddie Mac to offer principle reduction even in cases in which it would save money compared to foreclosure or to other types of modifications.”

“That’s Mr. DeMarco’s mandate,” Cummings said during a housing summit in Washington sponsored by the National Association of Real Estate Brokers. “That is what Congress directed him to do. If principal reduction will save the taxpayers money, he should be doing it now.”

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Suicides increase in Italy’s Veneto region

Published on May 5, 2012 by

More than two million Italians are out of a work and the government has had to cut public spending.

But, it is not just afftecting the country’s poorer southern regions. In the country’s northern region, the Veneto, where business people pride themselves for their entrepeneural skills and an abundance of small businesses, the downturn is leading to an increase in suicides.

Al Jazeera’s Claudio Lavanga reports from Asolo.

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Wars and Rumors of War

Iran dismisses Western demand to close nuclear bunker

Iran’s International Atomic Energy Agency (IAEA) ambassador Ali Asghar Soltanieh briefs the media during a board of governors meeting at the United Nations headquarters in Vienna. (Reuters)

Iran’s International Atomic Energy Agency (IAEA) ambassador Ali Asghar Soltanieh briefs the media during a board of governors meeting at the United Nations headquarters in Vienna. (Reuters)

By Fredrik Dahl
REUTERS / VIENNA

Iran said on Friday it will never suspend its uranium enrichment program and sees no reason to close the Fordow underground site, making clear Tehran’s red lines in talks with world powers later this month.

Last month a senior U.S. official said the United States and its allies would demand that Iran halt higher-grade enrichment and immediately close the Fordow facility at talks over Tehran’s nuclear standoff with the West.

But Iran’s ambassador to the International Atomic Energy Agency, Ali Asghar Soltanieh, told Reuters he saw “no justification” for closing Fordow, which he said was under IAEA surveillance.

“When you have a safe place, secure place under IAEA control, then why do you tell me that I should close it?” he said, making clear Iran built the site to better protect its nuclear work against any Israeli or U.S. attacks.

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Four men charged over Al-Qaeda terror plot in Germany

Federal prosecutors in Germany said the group’s leader is also accused of undergoing training at a terror camp in the Afghanistan-Pakistan border region. (File photo)

Federal prosecutors in Germany said the group’s leader is also accused of undergoing training at a terror camp in the Afghanistan-Pakistan border region. (File photo)

By THE ASSOCIATED PRESS
BERLIN

Prosecutors have formally charged four men with membership in a terrorist organization after allegations they planned to carry out an al-Qaeda attack in Germany.

Federal prosecutors said Thursday the group’s leader – 30-year-old Moroccan national Abdeladim El-Kebir – is also accused of undergoing training at a terror camp in the Afghanistan-Pakistan border region.

They say he recruited and indoctrinated the group’s other members, whose last names were not provided in line with German privacy laws.

The 32-year-old German-Moroccan Jamil S. was accused of being responsible for helping produce explosives, while 20-year-old German-Iranian national Amid C. and 27-year-old German citizen Halil S. are alleged to have had mostly logistical tasks.

The men were arrested last year.

 

 

 

Iran readies secret salt desert bunkers for clandestine nuclear facilities

DEBKAfileExclusive Report May 5, 2012, 1:16 PM (GMT+02:00)

North Korean nuclear-capable BM-25 missiles sold to Iran

When International Atomic Energy Agency (IAEA) director Yukiya Amano declared Friday, May 4, that
“Parchin (the suspected site of nuclear-related explosion tests) is the priority and we start with that,” he may have missed the boat. As he spoke, Israel’s Defense Minister Ehud Barak said it was possible that Iran was already putting in place the infrastructure for building a nuclear bomb in 60 days.
In this regard, debkafile’s military sources disclose that Iran had by the end of 2009 early 2012 completed the construction of a new chain of underground facilities deep inside the Dasht e-Kavir (Great Salt Desert) – all linked together by huge tunnels.

Nevertheless, Tehran keeps on putting off nuclear watchdog inspections at Parchin for three reasons:

1. To carry on squeezing concessions from the US in private talks between the Obama administration and Iranian leader Ayatollah Ali Khamenei, as well as from the Six Powers at their formal negotiations. Iran has won permission to enriching uranium up to 5 percent purity and is after approval for the 20 percent which is close to weapon grade.
2.  The Iranians can’t be sure they have scrubbed out every last trace of the nuclear explosives and detonators tested at the Parchin military base – even after clearing away the evidence and relocating the facility in the salt desert wastelands.

Asked to define the activities he wanted inspected in Parchin, Amano said: “We do not have people there so we cannot tell what these activities are.”  According to debkafile’s intelligence sources, while the IAEA may want hard physical evidence collected by its inspectors, US and Israeli intelligence have long possessed solid information on the illicit activities in Parchin collected by the nuclear-sensitive instruments carried by their military satellites.
3.  To guarantee that the IAEA inspection at Parchin will be the last and there will no further demands for visits to any more suspect sites.
Tehran cannot tell exactly what data on additional facilities has reached US or Israeli intelligence and at what moment they may pull their discoveries out of their sleeves with fresh demands. Iran is therefore bargaining for a line to be drawn at Parchin to close any future road for good so that it can carry on nuclear work at the new Great Salt Desert locations safe from discovery.
debkafile’s Iranian sources report that American negotiators in their private exchanges have thrown out hints about limiting IAEA inspections. But Tehran is holding out for a more solid commitment from the US and Europe to halt all demands for IAEA visits and for the Six Powers to veto inspections at any new nuclear locations Israel may expose.

This was what Ali Asqar Soltaniyeh, Iranian ambassador to the IAEA Vienna headquarters, was driving at when he stipulated Friday that that  talks with the six powers must be limited to negotiations on “a modality and framework to resolve outstanding issues and remove ambiguities.”

 

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Two Egyptian soldiers injured battling al Qaeda in N. Sinai 

DEBKAfileMay 5, 2012, 11:27 AM (GMT+02:00)

After clashes with protesters in Cairo Friday, Egyptian troops fought a major battle with al Qaeda infiltrators for control of the main northern Sinai road between Sheikh Zeid and Rafah early Saturday, May 5. DEBKAfile: This road, controlled by some 20 al Qaeda-linked jihadist and Salafi mlitias, commands the Sinai smuggling tunnels into the Gaza Strip, the Egyptian gas pipeline to Israel and Jordan and enables them to hold the Multinational Observer Force at Al Gorah to siege. The battle erupted during a military raid. Tanks were sent in to back the soldiers up.

In Cairo, an overnight curfew was imposed around the defense ministry, the scene of violent clashes between demonstrators and troops. More than 130 protesters were detained.

 

Bombings spread in Syria as Al Qaeda seizes control of rebel factions

DEBKAfileExclusive Report April 30, 2012, 7:09 PM (GMT+02:00)

Syrian military center in Idlib

Around the first anniversary of the death of al Qaeda’s iconic leader Osama bin Laden at the hands of US special forces, the jihadist movement is making an operational comback in the Arab world and Africa. The suicide bombings hitting Damascus and Idlib in the last 24 hours were the work of Al Qaeda in Iraq – AQI, whose operatives have been pouring into Syria in the last two weeks, debkafile’s counter-terror sources report.

Washington has not asked Iraqi premier Nouri al-Maliki to stem the outward flow, realizing he is glad to see the backs of the terrorists and waving them across the border into Syria. Our sources report from Western agencies fighting al Qaeda that several thousand operatives have arrived in Syria to fight the Assad regime, most entering the country from the north. They come fully armed with quantities of explosives. Among them are hundreds of Saudis, Egyptians, Lebanese, Palestinians, Iraqis and Sudanese.

They quickly join up with the hundreds of al Qaeda fighters from Libya present at Free Syrian Army-FSA training camps in southeast Turkey. There, they are instructed in the geography of Syrian government, army and security forces locations, led across the border and transported to their targeted locations by special guides.
Monday, April 30, the day after Norwegian Maj. Gen. Robert Hood took command of a painfully inadequate force of UN UN truce supervisors, al Qaeda let loose with a spate of bombings in Damascus and the northeastern flashpoint town of Idlib. I

In the capital, they bombed the Syrian central bank with RPG grenades, ambushed a police patrol in the town center and blew up a bomb car against a Syrian military convoy driving through the Qudsiya district. Two days earlier, a suicide bomber blew himself up at the Zain al-Abideen mosque of Damascus, killing at least 9 worshippers.
These attacks were followed later Monday with three bomb blasts in Idlib at security and intelligence centers in the town, killing some 20 people, most of them security personnel. One command center was destroyed and hundreds were injured by the force of the blasts.
The Syrian ruler Bashar Assad keeps on complaining that his regime is under assault by terrorists and many of the fatalities reported are members of his army and police. But his own brutal methods against dissidents have deafened the West to these complaints and the world addresses its demands to halt the violence to him and him alone.
There is nothing new about the refusal in the West to heed the fact that al Qaeda infiltrators are increasingly responsible for violence in the various parts of the Arab Revolt. In Libya too, Muammar Qaddafi warned repeatedly that his overthrow would result in al Qaeda-linked groups seizing control of the country and commandeering his vast arsenals of weapons.

 

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Articles of Interest

Senator asks UK for evidence linking News Corp. scandal to Americans

By Andrew Feinberg

Sen. Jay Rockefeller (D-W.Va.) has asked an investigator in the United Kingdom to reveal whether he has found any evidence that links the phone-hacking scandal at News Corp. to U.S. citizens.

Rockefeller sent a letter to Lord Justice Brian Leveson, the House of Lords member leading the investigation of News Corp. in the United Kingdom, and asked whether “any of the evidence you are reviewing … suggests unethical … and sometimes illegal business practices occurred in the United States or involved U.S. citizens.

In his letter, the Senate Commerce Committee chairman noted that Leveson’s inquiry and other investigations “are continuing to expose disturbing new evidence” about News Corp. employee conduct, ranging from illegal tapping of phones to outright bribery.

Rupert Murdoch heads News Corp., which is also the parent company of Fox. Murdoch’s former newspaper, News of the World, is under investigation in England for allegedly bugging phones in order to obtain stories.

Rockefeller said he’s concerned that some of the undisclosed victims identified by the U.K. investigation were U.S. citizens.

“I am concerned about the possibility that some of these undisclosed victims are U.S. citizens,” he said, “and the possibility that telephone networks under the jurisdiction of U.S. laws were used to intercept their voice mail messages.”

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Ohio Gov. Kasich concerned by climate change, but won’t ‘apologize’ for coal

By Ben Geman

Ohio Gov. John Kasich (R) acknowledged Wednesday that his belief in climate change cuts against the grain in the Republican Party, but don’t look for him to embrace Environmental Protection Agency regulations any time soon.

“I am a believer — my goodness I am a Republican — I happen to believe there is a problem with climate change. I don’t want to overreact to it, I can’t measure it all, but I respect the creation that the Lord has given us and I want to make sure we protect it,” Kasich said at a Columbus, Ohio, energy conference hosted by The Hill.

“But we can’t overreact to it and make things up, but it is something we have to recognize is a problem,” Kasich said.

Kasich touted efforts to help spur development of carbon capture and storage for coal, which has not been adopted on a commercial scale, and criticized what he cast as an overaggressive EPA.

“We are going to continue to work on cleaning coal, but I want to tell you, we are going to dig it, we are going to clean it, and we are going to burn it in Ohio, and we are not going to apologize for it,” he said during wide-ranging remarks on energy at the conference. Ohio is a coal-producing state and home to American Electric Power, a major coal-burning utility.

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Politics and Legislation

Obama’s below-the-radar healthcare push


By Sam Baker and Elise Viebeck

The Obama administration is employing an aggressive ground game to build support for its controversial healthcare law that often reaches beyond the Beltway.

While President Obama doesn’t mention healthcare much in his public appearances, the administration consistently touts its popular reforms to make the case for a law whose approval rating is stuck just below 50 percent.

In the two years since Obama signed the Affordable Care Act, the administration has released a deluge of reports, press releases and blog posts from the White House and the Health and Human Services Department (HHS). The administration consistently highlights new policies as they take effect and tries to keep other popular provisions, such as discounts on prescription drugs, in the news.

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Rep. Issa circulates contempt resolution against Attorney General Eric Holder

By Jordy Yager

Rep. Darrell Issa (R-Calif.) has circulated a draft copy of a resolution that would hold Attorney General Eric Holder in contempt of Congress.

The 44-page measure was sent to members of the House Oversight and Government Reform Committee on Thursday in an attempt to shore up support for what would be the toughest action taken by Issa as chairman of the powerful panel.

Issa has been investigating the botched gun tracking operation Fast and Furious for more than a year and has repeatedly expressed his frustration at the Department of Justice’s lack of cooperation.

Issa has issued two subpoenas to obtain documents from the DOJ, and is arguing that the agency’s glacial pace in returning the requested information provides cause for holding Holder in contempt of Congress.

“The Justice Department’s failure to respond appropriately to the allegations of whistleblowers and to cooperate with congressional oversight has crossed the line of appropriate conduct for a government agency,” reads a 17-page memo attached to the draft copy of the resolution on contempt circulated to members.

“Congress now faces a moment of decision between exerting its full authority to compel an agency refusing to cooperate with congressional oversight or accepting a dangerous expansion of executive-branch authority and unilateral action allowing agencies to set their own terms for cooperating with congressional oversight.”

Issa says he has received about 7,300 documents from the DOJ. That’s only a small fraction of the documents that Justice has provided to its inspector general, who has been conducting an investigation of Fast and Furious for more than a year.

Rep. Jason Chaffetz (R-Utah) recently said the oversight committee has received documents in only 10 of the 22 categories that Issa requested in last year’s subpoena.

The DOJ has said it has been responsive to Issa’s large request for documents. In some cases, the agency opted not to turn over documents because their public release could damage ongoing criminal cases, according to agency officials.

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RELATED ARTICLES

Blind Chinese dissident calls Congress, wants meeting with Secretary Clinton

By Pete Kasperowicz – 05/03/12 04:26 PM ET

The Chinese dissident at the center of a political firestorm called a hearing Thursday and told lawmakers he wants to meet with Secretary of State Hillary Clinton.

Chinese human rights activist Chen Guangcheng called a hearing set up to explore his efforts to leave China and escape persecution—apparently from a Chinese hospital room.

“I want to meet with Secretary Clinton,” he said on the phone. “I hope I can get more help from her. I also want to thank her face to face.”

Chen added that he is most concerned with his family, and said, “I really want to know what’s going on with them.”

“I want to thank all of you for your care and your love,” he added, through a translation by Pastor Bob Fu, Founder and President, ChinaAid Association. Fu was a witness at Thursday’s hearing of the Congressional-Executive Commission on China.

Chen is at the center of a diplomatic row between the U.S. and China that has become a political liability for President Obama.

Read Full Article And Watch Video  Here


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Economy

Wall Street CEOs Personally Lobby Federal Reserve to Weaken New Financial Regulations

By Travis Waldron

Federal regulators in charge of writing the Volcker Rule, which would ban federally-insured financial institutions from risky proprietary trading, are moving at a faster pace than expected and could have the rule finalized by September.

Wall Street banks have been lobbying to weaken the rule since it was originally proposed by its namesake, former Federal Reserve Chairman Paul Volcker, and now that it is just months away from finalization, their efforts are getting stronger. The chief executives of six major Wall Street banks, led by JPMorgan Chase CEO Jamie Dimon, traveled to Washington yesterday to personally lobby the Federal Reserve on multiple issues — weakening the Volcker Rule chief among them — Bloomberg reports:

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Everyone Agrees That the Decline in Pay has Been Understated

logo private sector of the americas

By Dean Baker

Jason Richwine and Andrew Biggs have a piece saying that many public-sector workers are overpaid in which they also say that I agree with them in much of their analysis. This is true.

Let me outline what I think are areas of agreement. First, we seem to agree that if we just compare the wages paid to public-sector and private-sector workers, the latter do better. When we adjust for education and experience, private sector workers tend to get higher pay than their counterparts in the public sector.

This is not true across the board. My colleague John Schmitt has found that while workers with college and advanced degrees (e.g. doctors and lawyers) get less in the public sector, less-educated workers get paid the same or slightly more than their counterparts in the private sector. In other words, there is less inequality in public sector wages than we see in the private sector, with the average being somewhat lower.

We also agree that the lower wages for public-sector workers are largely or completely offset by higher benefits. The key difference here is that public-sector workers are far more likely to have a traditional defined benefit pension plan. Most workers in the public sector still have defined benefit pensions, while less than 20 percent of workers in the private sector do. (The difference is considerably less stark if we restrict the comparison to large private firms, where defined benefit plans are still common.)

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Ford Motor Backs Thailand And Opens Second Plant

Published on May 3, 2012 by

Ford opened a second plant in Thailand on Thursday giving the firm the ability to produce 445,000 vehicles a year in the country.

Expect stagnant U.S. economy in 2013: Roubini

Second half of a double-dip recession is possible, economist says

 |Russ Britt, MarketWatch

LOS ANGELES (MarketWatch) — The U.S. economy could retreat into stagnation in 2013 and ultimately cast the nation into the second half of a double-dip recession, high-profile economist Nouriel Roubini said Wednesday.

Speaking at the Milken Institute’s Global Conference in Beverly Hills, Calif., Roubini noted that real wages for U.S. workers are not growing and that America’s crushing debt is strangling growth.

That translates into possible fiscal decay in which GDP will be “lucky” to grow 2% this year and faces the prospect of retreating into near-zero growth next year, according to Roubini.

Both political parties can share blame for the trouble, he added, arguing that the Republican Party wants to limit spending and Democrats don’t want to cut programs, and so are at an impasse. Little is likely to change regardless of this year’s presidential election, as Senate Democrats are likely to use the filibuster even if Republican candidate Mitt Romney unseats President Barack Obama.

“If there is gridlock, it’s going to get worse,” Roubini said.

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Wars and Rumors of War

Israel gets 4th German submarine

Advanced submarine handed over to Israel in festive ceremony; new sub is IDF’s most expensive weapon. Defense Minister Barak: Vessel will greatly boost army’s capabilities

Yoav Zitun

Published: 05.03.12, 18:15 / Israel News

Fourth Dolphin submarine starts long journey to Israel: An official ceremony was held in the German city of Kiel Thursday to mark the handover of a fourth submarine to Israel’s Navy.

The Tanin (“alligator” in Hebrew) is considered one of the world’s most advanced submarines and is the IDF’s most expensive. The vessel is expected to reach Israel only in 2013 and dock at the Haifa Port.

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Russia threatens Nato with military strikes over missile defense system

Russia has threatened Nato with military strikes against in Poland and Romania if a missile defense radar and interceptors are deployed in Eastern Europe.

Russia has threatened Nato with military strikes against in Poland and Romania if a missile defence radar and interceptors are deployed in Eastern Europe.

Gen Makarov has threatened to target Nato bases hosting an anti-missile system designed by the US to protect European allies against attack from states such as Iran Photo: AFP

By , Brussels

6:06PM BST 03 May 2012

General Nikolai Makarov, Russia’s most senior military commander, warned Nato that if it proceeded with a controversial American missile defence system, force would be used against it.

“A decision to use destructive force pre-emptively will be taken if the situation worsens,” he said.

Gen Makarov has threatened to target Nato bases hosting an anti-missile system designed by the US to protect European allies against attack from states such as Iran.

He said that Russia would counter Nato deployment by stationing short-range Iskander missiles in the Russian Kaliningrad exclave near Poland, creating the worst military tensions since the Cold War.

“The deployment of new strike weapons in Russia’s south and northwest – including of Iskander systems in Kaliningrad – is one of our possible options for destroying the system’s European infrastructure,” he said.

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Russia Says May Strike Preemptively Against NATO Missile Defense

Published on May 3, 2012 by

Russia said on Thursday (May 3) that it may use pre-emptive force against the NATO missile defense system if it considers the threat of it growing.

Russia hosted an international conference on missile defense in Moscow on Thursday where Russian army officials showed computer simulation models to illustrate how they believe the planned U.S. and NATO missile shield threatens its security.

NATO officials are hopeful an agreement with Russia will be reached before the NATO summit but Russia is adamant their concerns are not being listened to.

Washington says the shield, due to be completed in four phases by roughly 2020, is meant to counter a potential threat from Iran. Moscow says the system will undermine Russia’s nuclear deterrent because it could also give the West the ability to shoot down Russian missiles.

The shield’s first phase is to be declared up and running at the summit in Chicago later this month.

Russia and NATO agreed in 2010 to seek ways to cooperate on missile defense but have failed to reach a deal. The Kremlin wants a legally binding guarantee that the system will not be used against Russia. The United States says it cannot agree to any formal limits on missile defense.

In the meantime, Moscow said it can strike the missile defense system elements pre-emptively if they are considered a serious threat to Russia’s security.

Two blasts kill 14, injure over 80 in Dagestan

Published on May 3, 2012 by

14 people have been killed and up to 87 others injured as two powerful explosions hit Makhachkala, the capital city of Dagestan in southern Russia, security services report. The first bomb was detonated by a suicide car bomber not far from a police checkpoint on the outskirts of Makhachkala, when the car was stopped for a regular check. The second bomb, which caused most of the casualties, struck when rescuers arrived at the scene 20 minutes later. The blast caused a fire but it was soon extinguished. The combined power of the blasts was equivalent to 60 kg of TNT, according to officials from the National Antiterrorism Committee. The incidents are being treated as terror attacks. RT’s Sean Thomas has the details and also RT talks to Doctor Walid Phares, a counter-terrorism adviser to the US Congress.

Encircling Iran: US claims would win in 3 weeks

Published on May 4, 2012 by

The war rhetoric from Washington towards Iran is again being ramped up – just ahead of the second round of high-level international talks on the country’s nuclear program. US military top brass claim they would need just three weeks to defeat Iran’s armed forces. RT’s Gayane Chichakyan looks at whether it’s just more tough talk – or preparation for real action.

“We are Preparing for Massive Civil War,” Says DHS Informant

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In a riveting interview on TruNews Radio, Wednesday, private investigator Doug Hagmann said high-level, reliable sources told him the U.S. Department of Homeland Security (DHS) is preparing for “massive civil war” in America.

“Folks, we’re getting ready for one massive economic collapse,” Hagmann told TruNews host Rick Wiles.

“We have problems . . . The federal government is preparing for civil uprising,” he added, “so every time you hear about troop movements, every time you hear about movements of military equipment, the militarization of the police, the buying of the ammunition, all of this is . . . they (DHS) are preparing for a massive uprising.”

Hagmann goes on to say that his sources tell him the concerns of the DHS stem from a collapse of the U.S. dollar and the hyperinflation a collapse in the value of the world’s primary reserve currency implies to a nation of 311 million Americans, who, for the significant portion of the population, is armed.

Uprisings in Greece is, indeed, a problem, but an uprising of armed Americans becomes a matter of serious national security, a point addressed in a recent report by the Pentagon and highlighted as a vulnerability and threat to the U.S. during war-game exercises at the Department of Defense last year, according to one of the DoD’s war-game participants, Jim Rickards, author of Currency Wars: The Making of the Next Global Crisis.

Through his sources, Hagmann confirmed Rickards’ ongoing thesis of a fear of a U.S. dollar collapse at the hands of the Chinese (U.S. treasury bond holders of approximately $1 trillion) and, possibly, the Russians (threatening to launch a gold-backed ruble as an attractive alternative to the U.S. dollar) in retaliation for aggressive U.S. foreign policy initiatives against China’s and Russia’s strategic allies Iran and Syria.

“The one source that we have I’ve known since 1979,” Hagmann continued.  “He started out as a patrol officer and currently he is now working for a federal agency under the umbrella of the Department of Homeland Security; he’s in a position to know what policies are being initiated, what policies are being planned at this point, and he’s telling us right now—look, what you’re seeing is just the tip of the iceberg.  We are preparing, we, meaning the government, we are preparing for a massive civil war in this country.”

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Articles of Interest

ALEC Wasn’t First Industry Trojan Horse Behind Fracking Disclosure Bill – Enter Council of State Governments

By Steve HornFile:House Financial Services Committee hearing with Ben Bernanke.jpg

19th Century German statesman Otto von Bismarck once said, “If you like laws and sausages, you should never watch either one being made.”

The American Legislative Exchange Council (ALEC), put on the map by the Center for Media and Democracy in its “ALEC Exposed” project, is the archetype of von Bismarck’s truism. So too are the fracking chemical disclosure bills that have passed and are currently being pushed for in statehouses nationwide.

State-level fracking chemical disclosure bills have been called a key piece of reform in the push to hold the unconventional gas industry accountable for its actions. The reality, though, is murkier.

On April 21, The New York Times penned an investigation making that clear. The Times wrote:

Read Full Article Here

Rupert Murdoch in “Unprecedented Firestorm” As UK Panel Finds Him Unfit to Run Media Empire

Published on May 3, 2012 by

DemocracyNow.org – A British parliamentary report has issued a scathing report that finds Rupert Murdoch is “not a fit person” to run a major international media company because of how News Corp. handled its phone hacking scandal. The Parliamentary Select Committee on Culture, Media and Sport said Murdoch and his son, James, showed “willful blindness” about the scale of phone hacking at the News of the World tabloid. The panel’s finding has prompted a U.S. watchdog group, Citizens for Responsibility and Ethics in Washington, to call on the Federal Communications Commission to revoke News Corp’s 27 Fox broadcast licenses in the United States. We speak with David Leigh, investigations editor at The Guardian, the news outlet that first exposed the phone-hacking practices taking place within the Murdoch media empire. Leigh says the British panel’s findings could threaten Murdoch’s media presence across the Atlantic: “People are now beginning to say, ‘Doesn’t this bleed over into the man who runs Fox News and has all those TV outlets in the U.S.?’ If he is not fit and proper person in Britain, then he is not a fit and proper person in the U.S. either.”

To watch the complete independent, weekday news hour, read the transcript, download the podcast, and for more information about Democracy Now!, please visit http://www.democracynow.org

Alex Jones: Pentagon prepares re-education camps for political activists

Published on May 3, 2012 by

On May Day in 1971, the US Army rounded up approximately 7,000 protesters into a stadium in Washington, DC that they treated like a make-shift prison camp. Have things changed in the past 40 years? Now a Department of Defense document has been leaked to the Web that details “Internment and Resettlement Operations.” The manual outlines policies for processing detainees in internment camps domestically and abroad and how to “re-educate” unruly activists. Alex Jones, host of the Alex Jones Show, joins us to find out what this means to people across the globe.

Pungent Chemical Smell Alarms Gush Dan Residents

Home Front Command reports source of smell drilling off coast of Ashdod; environment officials: gas concentrations ‘negligible’

By Gabe Kahn

Panic in the Dan!

Panic in the Dan!
Flash 90

There were reports in the Tel Aviv and the Sharon region of a strong chemical smell on Thursday.

Most complainants reported a strong smell of chlorine or bromine, or insecticide.

While most residents simply closed their windows and remained calm, others became concerned there had been a chemical attack.

Police and city administrations in the region received numerous calls, and Environment Ministry officials were dispatched to take readings.

The officials reported low concentrations of gas in the air, which they say do not pose a danger to public health.

“All measurements in the Tel Aviv area are negligible,” they reported. “The Environmental Protection Agency is continuing to perform measurements, and trying to locate the source of odors. We are continuing to monitor other areas too.”

The officials also stressed they had yet to identify the souce of the smell.

However, a local environmental consultant told Channel 10 that concentrations producing a pungent scent were not healthy.

“This is an exceptional case,” the consultant said. “Such chemicals in high concentrations can be dangerous. The smell is quite strong.”

“The city administration could not identify the source,” he added.

However, the IDF Home Front Command identified the source of the smell as drilling off the coast of Ashdod.

Ramat Hasharon Mayor Itzik Rochberger complained that while the HFC told him the source of the smell, officials from the Environment Ministry were still in the dark.

“If it were a harmful substance what would happen?” he asked. “Why is no synchronization between the government systems?”

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