So it turns out that those who noted that the Cyprus bailout took place ahead of a local bank holiday on Monday were onto something. The terms of the bailout deal represent a huge leap in how the EU is tackling the crisis. Time will tell whether this leap is over or into the chasm.
And the Russians? The reason small depositors have been hit is that the losses inflicted would be much bigger if a) only large deposits b) only non-EU deposits were haircut. The data on Cyprus deposits is here (MUMs = Monetary Union Members). I would guess the thinking is that 10% is seen as a cost of doing business when it comes to money laundering, but 30% would probably finish Cypriot banking for good. If the infliction of losses on small depositors has a purpose, it’s probably to reassure the Russians that they are not being discriminated against. Yes, I may have thrown up a little in my mouth typing that.
It’s a great strength of the movement for gay political equality that lots of important and influential people happen to have gay children. That obviously does change people’s thinking. And good for them.
But if Portman can turn around on one issue once he realizes how it touches his family personally, shouldn’t he take some time to think about how he might feel about other issues that don’t happen to touch him personally? Obviously the answers to complicated public policy questions don’t just directly fall out of the emotion of compassion. But what Portman is telling us here is that on this one issue, his previous position was driven by a lack of compassion and empathy. Once he looked at the issue through his son’s eyes, he realized he was wrong. Shouldn’t that lead to some broader soul-searching? Is it just a coincidence that his son is gay, and also gay rights is the one issue on which a lack of empathy was leading him astray? That, it seems to me, would be a pretty remarkable coincidence. The great challenge for a senator isn’t to go to Washington and represent the problems of his own family. It’s to try to obtain the intellectual and moral perspective necessary to represent the problems of the people who don’t have direct access to the corridors of power.
Senators basically never have poor kids. That’s something members of Congress should think about. Especially members of Congress who know personally that realizing an issue affects their own children changes their thinking.
A CPAC session sponsored by Tea Party Patriots and billed as a primer on teaching activists how to court black voters devolved into a shouting match as some attendees demanded justice for white voters and others shouted down a black woman who reacted in horror.
The session, entitled “Trump The Race Card: Are You Sick And Tired Of Being Called A Racist When You Know You’re Not One?” was led by K. Carl Smith, a black conservative who mostly urged attendees to deflect racism charges by calling themselves “Frederick Douglass Republicans.”
Sickness being attributed to wind turbines is more likely to have been caused by people getting alarmed at the health warnings circulated by activists, an Australian study has found.
Complaints of illness were far more prevalent in communities targeted by anti-windfarm groups, said the report’s author, Simon Chapman, professor of public health at Sydney University. His report concludes that illnesses being blamed on windfarms are more than likely caused by the psychological effect of suggestions that the turbines make people ill, rather than by the turbines themselves.
A former member of the Westboro Baptist Church who recently published a book about leaving the hate-mongering group has also revealed that founder Fred Phelps’s anti-gay ideology may have spawned from a gay experience.
I never understood why, when [the media asked him], “Why are you so against the homosexuals? Did you have a homosexual experience? Do you have homosexual tendencies?” And he would get so mad, he would shut down. And he’d be like, “I can’t talk to this person anymore, they’re stupid.” His reaction to that was stronger than any other question you can ask him. So I always wondered that — why does he get so mad? If I’m not gay, I’ll just say I’m not gay. And I’m not going to freak out, like, “Why are you calling me gay?” I always thought that was super strange. … I don’t know what happened there, so [speculation] is all that I can leave it at. But something happened, and something made him change his mind about the military, and in turn have kind of a crusade against sexual immorality and homosexuals.
Republican Assemblyman Steve Katz was arrested and charged with marijuana possession after a Thursday-morning traffic stop on the Thruway.
The 59-year-old lawmaker was initially stopped at about 10 a.m. for allegedly driving 80 mph northbound near Coeymans. The posted speed limit is 65 mph.
“After noting the odor of marihuana, a New York State Trooper found Katz in possession of a small bag of marihuana,” a State Police release issued Friday morning said.
In a recent mailer to constituents, he decried “an increase in drug use and drunk driving by our youngest citizens. … I’m working with many groups to get these kids off the streets and into meaningful positions.”
The underage victim, who spent her entire life in the church listening to Schaap preach three times a week, wrote that she thought he was the voice of God.
“He told me to confide in him, to trust him, and he made me feel safe and comfortable around him as a man of God,” the girl wrote in official documents. “[Schaap] preyed on that trust and my vulnerability.”
ThinkProgress spoke with 10 attendees about the Ohio Senator’s announcement this week that he was reversing course and backing marriage equality after his own son came out of the closet.
A defense contractor better known for building jet fighters and lethal missiles says it has found a way to slash the amount of energy needed to remove salt from seawater, potentially making it vastly cheaper to produce clean water at a time when scarcity has become a global security issue.
See what happens if all those smart people take their attention away from building destructive crap for just a few minutes?
But noooo, instead it will be SEA WATER CONTAINS GOLD US OBAMA GOVERNMENT AND UN ARE GOING TO SWITCH TO PROPRIETARY GOLD RESERVE MONEY PROGRAM GUARDED BY F-35 BLACK HELICOPTERS WAKE UP SHEEPLE
Summary: A bunch of big banks made some risky investments, and they sold these risky investments to other financial groups and rich people. These rich people were told “hey; if this works out, you’ll make a fortune… if not, sucks to be you.”
Well, it didn’t work out, the banks tanked and shut their doors, and they took a bunch of other industries with them. Now, the EU helped these investors, who were told up front of the risks mind you, recoup some of their money. Now, per this agreement, they want Irish taxpayers help these investors recoup their losses. This journalist had the nerve to ask “Why do the taxpayers owe your rich friends a fucking penny?”
German guy and prissy bitch did everything they could to dodge that question.
Irish law says clearly a breach of the minimum holdings of even 1% must be notified to the regulator immediately. He was finding UniCredit being routinely 19% short. When he asked an independent company to check his figures they told him the breaches were as high as 40%. This means the bank was short billions. Such a shortfall means if there was run on the bank it would not have a hope of surviving.
Sugarman was ignored and told to stop complaining. He resigned.
A month later Northern Rock collapsed when a run on the bank exhausted its cash reserves. A year later the Irish banks collapsed.
You might have thought the Irish Bank regulator would want to know what Sugarman had to say. You’d be wrong. The Irish regulator has gone out of his way to ignore him. I have been privy to all the emails and correspondence and it is a shameful and tawdry story of obfuscation, lying and threats. Meetings where he was told he could come and tell the regulator what he knew, but that if he revealed any wrong doing by the bank that occurred during the time he was there, the regulator would have to report him to the police. Despite the fact he had been the one trying to raise the alarm.
And so it is that Sugarman has been interviewded by Australian television, Belgian television, Greek television, interviewed by the major Greek newspaper Kathemarini (which is affiliated with the NY Times) which was picked up, written about and made available to an English speaking audience by the noted and respected British financial journalist Ian Fraser on his blog,
And all the while there has been nothing in Ireland.
Ultra-secret national security letters that come with a gag order on the recipient are an unconstitutional impingement on free speech, a federal judge in California ruled in a decision released Friday.
U.S. District Judge Susan Illston ordered the government to stop issuing so-called NSLs across the board, in a stunning defeat for the Obama administration’s surveillance practices. She also ordered the government to cease enforcing the gag provision in any other cases. However, she stayed her order for 90 days to give the government a chance to appeal to the Ninth Circuit Court of Appeals.