Author: Serkadis

  • Defend Lt. Michael Behenna


    Army Ranger, Lieutenant Michael Behenna, is currently imprisoned at Ft. Leavenworth, Kansas.He is there because he did what he was trained to do. He is there because he killed a known al Qaeda member. “Ali Mansur, was suspected of having organized an attack on the young Army Ranger’s platoon, which killed two U.S. soldiers and injured two more under Lt. Behenna’s command.”

    Lt. Behenna maintains that after the Army released Mansur (?!) he killed him in self defense when mansur attempted to grab his weapon while escorting him home. The defense and prosecution medical experts agreed that the wound was consistent with a self defense story…but that was withheld from the trial. Behenna was sentenced to 25 years (recently reduced to 15) for killing a member of al Qaeda.

    Here are some resources about this story that you need to read -or at least browse through:

  • Article at the Philadelphia Bulletin that details the main aspects of the case under Travesty of Justice.
  • The official ‘Defend Michael’ website.
  • Petition to Senator Inhofe, Senator Coburn, Congresswoman Mary Fallin, U.S.Congress and US Secretary of Defense –SIGN IT
  • Read the testimony of the PROSECUTION’S expert witness that was withheld from the trial.
  • After reading all the legal documents, all I can say is…Why?! I just don’t get why the military would withhold evidence on one of their own? To what avail? Someone enlighten me please.

    For those that would write to Michael in prison:
    Michael Behenna #87503
    1300 N. Warehouse Road
    Fort Leavenworth, KS 66027-2304

    Donate to the ‘Defend Michael’ legal fund (donations of $20 and over will receive a “Defend Lieutenant Michael Behenna” wristband).

  • Unwelcome spotlight falls on Obama chief of staff Rahm Emanuel

    WASHINGTON — No-drama Obama was bound to get fireworks when he chose the expletive-spewing, hotheaded, never-at-rest Rahm Emanuel to be his White House chief of staff. The only questions were when — and how big.

    The answers are now — and pretty large, by inside-the-Beltway standards, anyway.

    And they’re happening at a particularly unpleasant time in Barack Obama’s presidency, which is struggling with problems in terrorist policy, health care reform and other matters that have the president in political hot water and down in the polls.

    The strange, only-in-Washington story began unfolding about two weeks ago when a column in The Washington Post asserted that Obama’s “first year fell apart in large part because he didn’t follow his chief of staff’s advice on crucial matters.”

    The piece advised a 180-degree turn from the recent trend of blaming Emanuel for Obama’s woes and of calling for the former congressman from Illinois to go.

    Instead, it said, blame others in Obama’s orbit who are too “in love with the president” to advise him wisely on such things as health care strategy, the closing of the U.S. military prison at Guantanamo Bay, Cuba, and how and where to try accused Sept. 11 terrorists. Blame Obama himself for not listening more to Emanuel, columnist Dana Milbank wrote.

    Then this week came another Post story saying basically the same thing, based largely on interviews with Democrats on Capitol Hill. This was harder for the White House to shrug off, because it was not an opinion piece but in the news section — on the front page, no less.

    Suddenly, the Obama White House had to deal with a narrative that some (though it’s still unclear who) think Obama’s chief of staff is smarter than the president, an awkward development in Washington’s deeply ingrained tradition of aides staying behind the scenes and not upstaging the boss.

    At the least, it creates an embarrassment and a distraction at a perilous time. And it belies Obama’s own prized no-drama culture, where neither dirty laundry nor disagreements are aired and theatrics aren’t tolerated. At worst, it sets in motion a dynamic that could lead to shakeups and further doubts about Obama’s leadership.

    So some angst behind the scenes at the White House was no surprise.

    Publicly, however, the White House stood firmly behind Emanuel. White House press secretary Robert Gibbs on Tuesday dismissed as “parlor games” the talk of a White House divided into camps or of Emanuel facing the prospect of being ousted.

    “Knowing most of what goes on here, I don’t subscribe to all of it or a lot of it,” he said. “He absolutely has the president’s confidence.”

    Several current and former White House aides said Emanuel, despite his often passionately delivered opinions, is, once a decision is made, among the most loyal and energetic about making it happen. The president was said to view the spate of stories with a long view, that he and his team would rise — or fall — together and that Emanuel is too valued to cut loose.

    Emanuel has been open about harboring political ambitions beyond the White House, specifically to run for Chicago mayor. But Gibbs deemed it unlikely that the chief of staff is feeding the stories himself to protect his reputation from its recent battering, particularly from the Democratic Party’s liberal wing, which feels abandoned by Obama on many issues.

    “We all give advice to the president on a daily basis,” Gibbs said. “The president makes decisions and we move forward. When we move forward, nobody moves forward with more determination than the chief of staff.”

    Some indications point to the stories being driven by Emanuel loyalists, becoming increasingly upset at the criticism aimed at him lately over Obama’s sputtering agenda, say those inside and outside the White House. A large number of Democratic lawmakers, particularly centrists and conservatives, feel a huge debt to Emanuel from his days as chairman of the Democratic campaign committee in 2006, when he played an instrumental role in restoring his party to power after 12 years in the minority.

    Many of those same Democrats now fear for their chances in November’s midterm congressional elections. As is common at this stage in an election cycle, they are looking for more help from Obama and someone to blame if they lose.

    And yet, there is no doubt that Emanuel’s own pugnacious, loquacious style is to blame, at least indirectly if not more.

    Emanuel is known as a fierce competitor, who strikes back — hard — when hit.

    He also fairly openly shares where he stands on issues, and where that has differed with the president.

    For instance, it’s well-documented that Emanuel argued internally against trying accused Sept. 11 mastermind Khalid Sheikh Mohammed and four of his alleged henchmen in civilian court in New York. That decision, by Attorney General Eric Holder, invited a firestorm of criticism for Obama, has now been put on hold and may be reconsidered.

    Back when the cool-tempered Obama first offered him the job, Emanuel surprised many by publicly and repeatedly sharing his reluctance to do so — because it would require him to give up his goal of becoming House speaker and would cost him time with his wife and three children. Such admissions of doubt when a president comes calling, which Emanuel still talks about, are almost unheard of.

    The man nicknamed “Rahmbo” has been no stranger to controversy, either. Recently, he apologized for using the word “retarded” to describe liberal activists whose tactics on health care he questioned.

    Obama has not been shy about getting rid of aides; he doesn’t employ loyalty just for the sake of it.

    But Obama has welcomed disagreement within his staff and has shown he is willing to tolerate a lot to get the benefit of Emanuel’s considerable legislative and political talents. So the word is that Emanuel isn’t going anywhere. For one thing, he is regarded as essential to shepherd health care reform to a conclusion.

    And that, said those close to the White House, is the way out of this mess.

    If health care is passed, the bad stories and the finger-pointing stop and Obama moves on to other issues.

    If health care fails, there will be more bad stories and finger-pointing — common in times of trouble for any president. And they’re likely to be not just about Emanuel, but others in the White House as well.

    Read the original article on DailyHerald.com.

    Distributed via Chicago Press Release Services


  • Rangel stepping down from tax-writing chairmanship

    WASHINGTON — Embattled Rep. Charles Rangel, facing an investigation by the House ethics committee, says he has decided to temporarily step down from his post as chairman of the House Ways and Means Committee.

    Rangel made the announcement to reporters on Capitol Hill Wednesday, saying he would not answer any questions. He said, “I hope you don’t mind. I don’t take questions.”

    He said that “from the very, very beginning, I had offered” to House Speaker Nancy Pelosi to step down from the post.

    He said he leaving “to avoid my colleagues having to defend me” during the campaign season.

    Read the original article on DailyHerald.com.

    Distributed via Chicago Press Release Services


  • Report: Florida authorities on watch for suspect in Darien killings

    Autopsies are scheduled later today for three people killed in Darien Tuesday, while police in Florida are being told to keep an eye out for a possible suspect in the shootings.

    Jeffrey Kramer, 50, his wife, Lori, 48, and their 20-year-old son, Michael, are scheduled to be autopsied early Wednesday by forensic pathologist Jeff Harkey and the DuPage County Coroner’s Office, officials said.

    Police are hoping the autopsies will give them additional clues into the type of gun used and the number of shots fired at each person.

    Simultaneously, southern Florida police have issued a warning to keep a lookout for a blue BMW last seen near Jasper in Hamilton County, Fla., authorities confirmed.

    Hamilton County Sheriff Harrell Reid said the driver of a blue 1994 BMW with Arizona plates is wanted for questioning regarding the triple homicide that took place Tuesday morning.

    Reid said the area where the car was last seen was searched thoroughly with no results.

    “We are still checking for the car, but it’s not an active search anymore,” Reid said. “We were also told to use caution if the car is seen.”

    Darien police sources described the 3 a.m. shooting on the 8900 block of Kilkenny Drive as a “premeditated hit.”

    Three others in the home narrowly escaped with their lives.

    Each family member killed suffered multiple gunshot wounds, police sources said.

    Read the original article on DailyHerald.com.

    Distributed via Chicago Press Release Services


  • Long Wait for Hep C Treatment in Queensland

    Those who are educated about Hepatitis C know that time is of the essence when it comes to receiving treatment. Unfortunately, some Australians with this virus have to wait a reported six years to see a specialist.

    Six year wait list for Hep C treatment

    Tuesday, 23 February 2010

    Peter Dowling MP, LNP Member for Redlands is calling on the State Government to reveal information about waiting times for specialist outpatient services and act to reduce a 6 year wait for patients needing Hepatitis C treatment in Queensland hospitals.

    Mr Dowling wants Health Minister Paul Lucas to come clean on excessive waiting times for Hepatitis C treatments and disclose the number of Category 1, 2 and 3 patients waiting for treatment in Queensland hospitals.

    “There is a resident in my electorate who has been told that he can expect to wait up to 6 years before he can see a doctor for treatment”, Mr Dowling said.

    “Unbelievable as it seems, he’s been on a waiting list to see a specialist at the Princess Alexandra hospital since 2006.”

    Continue reading this entire article:
    http://bayjournal.com.au/joomla/bayislandsjournal/56/2354-six-year-wait-list-for-hep-c-treatment.html

  • UK CDS Vs. Chile CDS: Guess Which Is Worse

    The headline gave it away didn’t it?

    Obviously Chile — despite a mammoth earthquake that may have cost the country 15% of its GDP according to Morgan Stanley — is still a safer debt risk than the UK. Doi!

    chile

    Join the conversation about this story »

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  • Microsoft Security Exec Suggests Internet Tax To Pay For ‘Computer Health Care’ Program

    Tank Szuba alerts us to the story about a Microsoft security exec suggesting that it might make sense to implement an internet usage tax to help fund a “computer healthcare system” to fix the notoriously insecure software that his company produces. It doesn’t sound like a well-thought out proposal. It seems more like a brainstorm from a panel discussion by Scott Charney, Microsoft’s Vice President for Trustworthy Computing. He suggests, as others have, that a system could be setup for quarantining infected computers, but when asked how to pay for it, he suggests such a tax. Or, of course, Microsoft could make software that doesn’t have as many security holes.

    Charney seems to model his idea off of our broken healthcare system:


    “I actually think the health care model … might be an interesting way to think about the problem,”

    Has he looked at how well healthcare has been working lately? Of course, as with healthcare, the real issue should be preventative efforts, and those mainly start with Microsoft and how it architects its software. But I guess it’s easier to just ask everyone to pay a tax to hide that.

    Permalink | Comments | Email This Story





  • Fannie’s buyback plan; HARP; Apps up; News from UBOC and USB; Why rates may go up 50 bps; USPS & RESPA

     

    pipeline-press

    rob-chrisman-daily

     

    “Daddy, Daddy! Help me!”
    I ran into my daughter’s room. It was obvious that she’d just woken up from a nightmare. She was shaking and bathed in sweat.
    “Daddy, it happened again – the dream. A man and a woman named Fannie and Freddie were after me. Fannie told me that I owed her $15 billion dollars. She said that I’d left off the middle initial on a 4506-T in 2003. I didn’t know what she meant, something about “contractual obligations”. And Freddie just stood there, grinning. They wanted all the money out of Swiss Pig, my piggy bank!”
    “Take it easy,” I told her. “Fannie and Freddie aren’t after you. They want the money from the investors, not from us taxpayers, and only if loans are delinquent. And the investors will go after the mid-size and small originators due to their seller contracts. It has nothing to do with you and me, so go back to sleep.”
    “Whew!” I said to myself as I went back to bed. “At least it wasn’t the Barney Frank, Tim Geithner dream again.”

    Contracts…Does attaching your signature mean anything anymore? We sign so many things with a quick scrawl: bills at the restaurant, checks, rental car forms…agreements with investors? Do we really read them, and take defensive steps ahead of signing them, or do originators just sign them because the pool of investors is so small? For example, who is liable if there is a mistake, and what can be done to correct it? Unfortunately now many of the terms of these agreements are “coming home to roost” and the ramifications are expected to continue to change the profile of the mortgage banking industry.

    Foreign intrigue is always interesting (check today’s joke at the bottom) as is a foreign report (in this case, British) on property values in Detroit. $1 for a house sounds tempting

    The Federal Housing Finance Agency (FHFA), overseer of Fannie and Freddie, announced the Home Affordable Refinance Program (HARP) will be extended a year to June 30, 2011. HARP is part of the Making Home Affordable Program, and “is designed to expand access to refinancing for otherwise qualified borrowers who cannot move into more affordable mortgages because of a lack of equity in their homes” and is for borrowers who are current. For Fannie, this means that its Refi Plus and DU Refi Plus programs are extended into next year, and the same for Freddie’s Relief Refinance Mortgage.

    Lock Desks were busier everywhere last week, and the MBAA reported that apps were up 15% in the week ended Feb. 26. Let’s hope they translate to fundings! Applications to refinances were up 17% and purchases were up 9% after reaching the lowest level in more than 12 years the previous week. Refi’s accounted for over 69% of applications.

    The announcement by Freddie that their IO product will be phased out in September (nothing from Fannie yet on their IO product) seems justified. Freddie had $130 billion in unpaid principal on these IO loans, or 7% of their overall portfolio. Of those loans, 18% of them are considered seriously delinquent (more than 90 days past due). This amounts to $23.4 billion in delinquencies – why continue to expose yourself to that?

    On what do investors in mortgage-backed securities base, in part, their decision to buy a security? The delinquency of the mortgages contained in the pools, of course. Fannie’s buyout announcement has completely re-priced the “coupon stack” for investors yesterday. Between 150-200,000 delinquent loans will be bought out each month, with the target for March and April being high coupons like 6.5% and 7% older coupons, and 6% securities (6.25-6.625% mortgages) in April and May. In May and June Fannie will target the more-current coupons of 5 and 5.5% MBS’s. In sum, Fannie will be removing 25-30% of its delinquent loans each month over the next 3-4 months. Note that announcements vary between dollar amounts and loan numbers – the latter probably due to servicer constraints. That is a lot of loans for Wells, BofA, Citi, Chase, etc. to process.

    Basically, Fannie loans done in 2007 are a mess, but at the end of 2009 4.7% of the entire mortgage-backed security portfolio was 120 days or more delinquent. Add 30, 60, or 90 day delinquencies, and you have even more of a mess, and the soon-to-be loans that are about to go delinquent, and the problem is even worse. And, looking at the big picture, if Fannie suffers a 10-15% loss on their foreclosure/REO properties, 10% of a $2.5 trillion portfolio amounts to a loss of $250 billion. Holy smokes! http://www.fanniemae.com/mbs/pdf/mbs_announcementchart_030110.pdf

    Borrowers in 15-year mortgages are less delinquent than 30-yr borrowers. Somewhat surprisingly, borrowers are about 30% less delinquent, although I imagine that any agent or broker originating loans in the last 10 years could guess that.

    U.S. Bank Home Mortgage Wholesale Division shifted the maximum LTV’s of its Second Mortgage and Simultaneous HELOC products due to continued distressed markets issues. Beginning Monday, ID, NM, RI, and WV were removed entirely from the Declining Markets list, with a new maximum LTV of 85%. OH and SC were added to list, and now have a maximum LTV of 75% along with others such as CA, FL, AZ, MI, NV, etc.

    Union Bank of California tweaked its seasoning requirements for refinance transactions. Its clients are being encouraged to call to confirm the new policies on an refi that has been owned less than 12 months, but basically if “a borrower purchased the subject property with cash and is requesting to recoup the funds used to purchase the property, the transaction must be processed as a Cash-Out Refinance” and meet certain requirements, along with the file including a copy of the HUD 1 Settlement Statement or Certified Final Closing Statement for the purchase of the subject property. Any sales concessions must be deducted from the purchase price. Also, UBOC must verify that the source of acceptable funds originally used to purchase the subject property if purchased within the last 12 months.

    Why do we often hear the belief that once the Fed ends their MBS buying program, mortgage rates will go up 50 basis points? Well, if one goes back over a 26-year relationship between Fannie Mae collateral and 10-yr Treasury yields, the spread has averaged about 125 bps (1.25%), and currently stands at about .70%. The spread has rarely traded at less than 100 bps, which suggests that Fed purchases may have caused spreads to tighten by 30-55 bps. There ya go!

    I imagine that originators are wondering about the 3-day RESPA changes, given the US Post Office proposals. With Saturday mail delivery on the cutting block, Joe L. reminded me that it brings the new 3-day notification into question. (Branches are expected to be cut, rates raised, and an expansion of self-service kiosks in grocery stores and other popular retail spots are planned.) The USPS saw a $3.8 billion 2009 loss, and the service is currently $10 billion underwater. Mail volume was down 12.7% for the year, a trend the agency expects to continue over the next decade as more consumers opt for online bill payments and message delivery. But eliminating Saturday delivery would take an act of Congress – in an election year?

    Greece announced a well-publicized $5.4 billion plan to cut its deficit (3rd one in 3 months), which of course has their workers protesting. Taking a longer term view, these measures should help the country. Depending on the news from Greece, money either flows in to or out of our Treasury market with the “safe haven, flight to quality” attitude. Greece cutting its massive budget deficit by 4% is obviously a help. (10-yr Notes in Greece yield about 6 %.) ADP showed February private sector jobs declining 20,000, with a back-month revision. Later this morning we’ll see some ISM numbers, and the Beige Book, but overnight (and for now) the rate markets are pretty quiet with the 10-yr sitting around 3.63% and mortgages slightly better given some intra-day price improvements yesterday.

    Sitting together on a train, travelling through the Swiss Alps, were a French guy, an English bloke, a little old Greek lady, and a young blond Swiss girl with a large chest.
    The Train goes into a dark tunnel and a few seconds later there is the sound of a loud slap.
    When the train emerges from the tunnel, the French guy has a bright red, hand print on his cheek. No one speaks.
    The old lady thinks: The French guy must have groped the blonde in the dark, and she slapped his cheek.
    The blonde Swiss girl thinks: That French guy must have tried to grope me in the dark, but missed and fondled the old lady and she slapped his cheek.
    The French guy thinks: That English bloke must have groped the blonde in the dark – she tried to slap him but missed and got me instead.
    And the English bloke thinks: I can’t wait for another tunnel, just so I can smack that French bastard again.

    Rob

    (Check out http://www.mortgagenewsdaily.com/channels/pipelinepress/default.aspx. For archived commentaries, check   www.robchrisman.com )

  • How-To: Setup an Airport Extreme in Bridge Mode

    When our community went live for AT&T U-Verse, we jumped right on the opportunity to get a service with advanced voice, data and TV on the same line. Unfortunately, we found out that U-Verse requires you use to use their router. So we had to replace our beloved Airport Extreme, right? Not quite.

    Our situation was U-Verse related, but others may have situations whereby your Extreme can no longer provide Internet routing functions. Fear not, because you can still take advantage of its features with Bridge Mode. Bridge mode essentially turns off the Internet routing portion of the Airport, but leaves intact all of its other features such as Wi-Fi, printer sharing, disk sharing, and Time Machine support.

    Let’s begin!

    Getting Started

    First, unplug all network cables from the Airport and reset it so you are starting with a clean slate. Instructions to reset can be found here.

    Next, plug an Ethernet cable from your computer into one of the Ethernet ports on your Airport Extreme. You can configure via Wi-Fi, but wired is easier. If you do it over Wi-Fi, you’ll need to search for your particular Airport.

    Once you are connected to the Airport base station (either via ethernet or Wi-Fi), launch the Airport Utility on your Mac. The utility is located in /Applications/Utilities. Once it loads, you will see your Airport router listed in the upper left corner. If the router doesn’t show up, make sure you are physically connected to its network from your Mac.

    Click “Manual Setup” towards the bottom of the window and then click the “Internet” icon that appears at the top of the window.

    After you click the “Internet” icon, the Internet Connection tab should appear. At the bottom of this window, you will see an option for “Connection Sharing.” By default, this is probably set to “Distribute a range of IP addresses” or “Share a public IP address.” You want to change this so that it says “Off (Bridge Mode)”

    At this point, you are done. The Airport is setup for Bridge Mode, but you’ll want to configure a few more things.

    Configuring Your Bridge

    To configure the Wireless Security and Wireless Network Name, click the Airport icon at the top of the window and then click Wireless.

    If you reset the Airport first, you’ll want to click the Base Station tab to rename the Base Station and create an Airport Extreme Password (which may or may not be the same as your wireless password).

    If you want to share a connected printer or disk, click the Printers and/or Disks tab as applicable. Personally, I use the USB port and Disks function to have a remote Time Machine shared by multiple computers.

    Once you have made all the changes you wish to make, click on “Update” in the lower right corner, and your Airport base station will restart. At this point, you can disconnect from the ethernet port and now must plug in the ethernet cable from your ISP-provided router into the Broadband port of your Airport Extreme.

    After it restarts, the Airport Extreme indicator in the front should go green. You can test the bridge by connecting to your Airport via Wi-Fi (or ethernet if you want) and surf the Internet as well as see any disks or printers you might be sharing.

    Keep in mind that there are a few limitations of bridge mode. Because the Internet routing features of the Airport are not used in Bridge Mode, certain features that rely on special functionality of the Airport router, like Back To My Mac, may not work. Additionally, port forwarding (for things like games or Bit Torrent) needs to be done using your ISP’s router’s web interface, rather then the Airport Utility. Some ISP routers have a special mode called “DMZ” which allows you to use these features on the Airport, but setting this up is router-specific and often subject to change.

  • Majin: The Fallen Realm being localized for North America

    Namco Bandai has announced that Game Republic’s Majin: The Fallen Realm will also be released in North America, albeit with a slight name change.

  • Mystery LG Windows Phone 7 device gets a name

    lg-pantherWe usually know the code name of a new device well before we actually get to see it, but on this occasion, with LG’s new Windows Phone 7 series smartphone, we have a pretty nice device with no moniker.

    Fortunately it seems this situation does not have to continue much longer, as Best Mobile Contracts appeared to have somehow convinced LG to part with a name.

    LG’s first Windows Phone 7 smartphone is apparently code-named LG Panther.  No more information than this has been revealed so far, but at least the mystery is no longer.

    Picture via Engadget.com

  • 5 rescued from Gresham fire

    Two children and three adults are in fair condition and suffering from smoke inhalation after being rescued from a burning apartment building in Chicago’s Gresham community early Wednesday.

    The two-alarm blaze started about 1 a.m. in the basement level of a 3-story brick apartment building at 7945 S. Ellis Ave., fire spokesman Quention Curtis said.

    “We had heavy fire in the basement,” and the fire spread to the first floor of the 45-by-125 foot building, he said.

    Five residents – including two children, one of whom is 2-years-old – all suffered smoke inhalation and were rescued. Two were taken down by ladders and three were rescued from inside the building, Curtis said.

    The children were taken to University of Chicago Comer Children’s Hospital in fair condition. Two adults were taken to Jackson Park Hospital and Medical Center in fair condition and a third adult was taken to South Shore Hospital, Curtis said.

    About 100 fire department personnel from 32 fire companies were able to stop the fire from spreading to the second and third floors. The building was equipped with smoke detectors, Curtis said.

    Curtis said about 20 residents were going to be displaced.

    Read the original article from SouthTown Star.

    Distributed via Chicago Press Release Services


  • Savvy Hedge Funds Now Fleeing Sovereign Shorts

    businessmenrunning-briefcase

    When violent political winds blow, rather than be blown away as the lone voice of reason, it’s best to simply lie low.

    Thus Europe’s largest hedge fund, Brevan Howard, is making it clear that they are lying down nice and flat:

    The First Post:

    Hedge fund Brevan Howard said in a note to investors that the trade in Eurozone government bonds is “exposed to a regulatory squeeze as occurred on short positions on financial stocks in 2008”, referring to the ban on short selling of financial stocks, which was imposed to allow banks to recover from the credit crunch. The note said the fund has closed out all of its positions on European sovereign debt.

    They’re not alone:

    The Financial Times also reports that Moore Capital and Paulson & Co have abandoned their short positions on Greek government debt, the country whose troubles (pictured) sparked the Euro’s decline in the first place.

    Smart move, from a long-term survival perspective. Any big name with a reputation is best avoiding the negative P.R. involved here, which is likely to far outweigh one good year of performance, even if they think the certain euro bonds are toast.

    Meanwhile, for the eurozone shorts that remain, risk and reward have now both intensified.

    Join the conversation about this story »

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  • On Shelves This Month: holy crap that’s a lot!

    In a rather interesting turn of events, publishers have seemingly decided to turn March into the melting pot of major releases. We’ve already covered it a while back (qjnet/news/the-quarter-quickpeek-come-get-some.html), but the surge of announcements since then have

  • Dear Americans: Get Ready To Bail Out Greece

    greek girls

    It is becoming increasingly likely Greece may ask the International Monetary Fund for a bail out now that Germany is making it all to clear it won’t be providing aide.

    And since the United States is the largest contributor to the IMF, US taxpayers will find themselves footing the bill for the Greek debt crisis.

    Two unnamed officials told the Associated Press that Prime Minister George Papandreou refused to rule out going to the IMF during a Cabinet meeting Wednesday.

    Greece is already receiving IMF advice on the crisis. EU officials are said to oppose an IMF bailout but if it comes down to an EU bailout or an IMF bailout, they might well prefer the latter.

    Join the conversation about this story »

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  • Police say 2 may have stabbed each other

    CHICAGO (AP) — Chicago police say a husband and wife found dead in their southwest side apartment may have stabbed one another to death.

    Officer Laura Kubiak of the Police News Affairs office said Tuesday that investigators have learned that 46-year-old Mario Zavala and his 22-year-old wife, Krystal, had a volatile relationship and had recently gotten back together.

    Kubiak said there were no signs of forced entry at the couple’s Gage Park neighborhood apartment Monday afternoon, and officers found a knife at the scene.

    Police Sgt. James Lamperis said a roommate of the couple called police after finding them dead, and investigators said both victims appeared to have suffered stab wounds.

    © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

    Read the original article from WBBM News Radio.

    Distributed via Chicago Press Release Services


  • Ill. Senate Dems to dissect GOP candidate’s budget

    SPRINGFIELD, Ill. (AP) — One skirmish in the battle for Illinois governor will take place in a state Senate committee.

    Democrats plan a hearing Wednesday on budget ideas they say are backed by Republican candidate for governor Bill Brady. They include 10 percent across-the-board cuts.

    The Democrats are likely to focus on the service cuts that would be required, part of an effort to portray Brady as too extreme and to build support for other budget ideas.

    Democratic Gov. Pat Quinn wants to cut spending but also raise income taxes.

    © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

    Read the original article from WBBM News Radio.

    Distributed via Chicago Press Release Services


  • Museum’s Smart Home still green but gets makeover

    CHICAGO (AP) — The Museum of Science and Industry’s Smart Home has gotten a 2010 makeover by interior designers for Midwest Living magazine.

    The popular Chicago exhibit reopens on Thursday. Its new design reflects the lifestyle of empty-nesters looking to minimize home maintenance and maximize efficiency. The redesign features soft, organic textures and colors, and aims to combine beauty with function.

    The eco-friendly exhibit’s green technology and materials are a showcase of ideas for homeowners seeking to make their own spaces more environmentally friendly.

    The Smart Home first opened in May 2008. It has drawn more than 200,000 visitors since then.

    On the Net:

    Smart Home: http://www.msichicago.org/whats-here/exhibits/smart-home/

    © 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy.

    Read the original article from WBBM News Radio.

    Distributed via Chicago Press Release Services


  • At 99, retired attorney still has full life

    DECATUR, Ill. (AP) — John Regan never forgets a friend, or an injustice.

    When he was a boy in the 1920s walking along the railroad tracks in Decatur on his way to what was then Roosevelt Junior High School, he got to know and like a black student named James Parsons, who used the same shortcut.

    Their friendship endured through Decatur High School and playing in the high school band together. The pals would go off on band trips, and Regan remembers how they once had some free time in Springfield and went to watch a show in a theater.

    “We were sitting up in the balcony when an usher came right over to Parsons and got him out of there because he wasn’t allowed to sit there because of his skin color,” he recalled.

    Sitting now in his Decatur home with a rescued stray cat he simply calls “Cat,” Regan is casting his mind back 80 years. Yet he never forgot the look on his friend’s face when that usher came to get him. “He was subdued, although he didn’t get angry or anything,” he said. “But you just knew he felt humiliated.”

    It was a time when students in the same class couldn’t eat lunch at the same place if their skin was the wrong shade. The incessant slaps and slights of racism, even in the more liberal North, left mental scar tissue that, combined with two young men of exceptional intelligence, turned into a determination to make a difference.

    Regan delights in pointing out that the late Parsons, who went on to teach music, also became a lawyer. He was the first African-American judge named to the U.S. District Court with life tenure, the appointment made by President Kennedy in 1961, and he presided for more than 30 years.

    Regan, meanwhile, also trained as a lawyer and set up shop in Decatur. There was a break while he went off to serve in World War II, and when he came back, he decided that part of making a land fit for heroes was offering his services to the NAACP. “They gave me a retainer,” recalls Regan. “$10 a month.”

    With that rich reward, he wielded the law like a sword to smite injustices ranging from the refusal of service at a hamburger joint to cases of wrongful mass arrests targeting blacks. In fight after fight, he wound up making officialdom think twice before trampling the rights of others.

    Later, as times changed, the NAACP decided it wanted its own lawyers, and Regan bowed out gracefully and concentrated on his private practice, developing a particular expertise in the complicated world of income taxes, one of his many specialties.

    He retired in 1987 after a career that had spanned half a century. Then, with some free time, he was able to turn his legal mind to an all-consuming passion: genealogy. He’s hunted his own ancestry back to its European heritage and, along the way, compiled dozens and dozens of books of old Central Illinois newspaper clippings and pictures, the products of hours spent staring at library microfiche records.

    He hands out copies of the books he crafts to public libraries and especially the Decatur Genealogical Society. They have 182 copies of tomes he has made, along with more than 100 other books of historical and genealogical interest that he has bought and donated. At 99 years old, Regan has only slowed down recently after falling and breaking his arm on one of his frequent trips through the snow to the Decatur Public Library.

    “I always like to do something useful with my time,” he said.

    His desire to probe the past also extends to contemporary history, and the Genealogical Society collection includes many picture books he has compiled with shots he’s taken himself. Decatur shops, businesses, the people who run them and residents in the neighborhood where he lives all are fair game for the Regan version of living history.

    “He even followed the mailman around on his route and took pictures of him going places,” said Cheri Hunter, the genealogical society librarian. “The thing about contemporary history is that we tend to forget about it until somebody says, `Oh, remember such and such that was over there? Why didn’t we take a picture of that?’ But John remembers and understands. We’ve given him a life membership in recognition of all the work he’s done.”

    But Regan doesn’t just record and chart history; he also makes it, and earns plenty of new friends along the way, too. His ancestral roots have intertwined with little towns such as Kenney in DeWitt County, and Regan believes part of honoring the past is to extend a helping hand to the present. In the case of Kenney, it’s hard to know where to begin in listing his largesse.

    “He’s been helping us for probably the last two or three years and spent well over $40,000,” said Virginia Abshire, a former member of the village board and tireless Kenney booster.

    Kenney improvements funded by the generous arm of the law include a village sound system that plays music broadcast from atop the local Heritage Building community center. “The system chimes three times a day, kind of like a clock, and plays all kinds of tunes,” says Abshire, 83. “I don’t understand how it works, but it’s great.”

    Regan has funded landscaping improvements in the village park, a chairlift for the disabled in the community center and benches for the park and downtown area. He buys flowers for the yards of everybody in town all 400 of them and also pays for birdfeeders and birdseed for anybody in Kenney who wants to set one up.

    “He also bought $50 birdbaths for everybody who wants one,” adds Abshire, who keeps remembering new things the lawyer has done and says it’s a struggle to recall them all. It’s just pleasing to see so many good things happening here,” said Abshire. “Kenney is a small town but with a lot of nice people in it.”

    All ably assisted by that other nice person who lives in Decatur and has a courageous, giving heart that has carried him through almost a century of local history. “I just like to help,” Regan says. “And have some fun.”

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  • Puerto Rican birth certificate law affects Illinois

    CHICAGO (AP) — State officials say at least 50,000 Illinoisans were born in Puerto Rico and have to get new birth certificates because of a law enacted in the U.S. island commonwealth.

    Puerto Rico enacted the law in December to help combat identity theft. Federal officials have said up to 40 percent of U.S. identity fraud involves birth certificates from Puerto Rico.

    As of July 1, all previously issued Puerto Rican birth certificates are void. It will affect more than a third of the 4.1 million people of Puerto Rican descent living in the 50 states.

    U.S. Rep. Luis Gutierrez, a Chicago Democrat, says it the law is unfair and will pose a major inconvenience. But he says it will also help protect people.

    On the Net:

    -Application for birth certificate

    http://www.salud.gov.pr/Programas/RegistroDemografico/Pages/RequisitosparasolicituddeNacimiento.aspx

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