Dec. 29, 2009 - US rejects Russian missile shield concerns |
| The United States has rejected fresh concerns raised by Moscow about its planned missile defence system. The State Department statement came after Russian PM Vladimir Putin said the US plans were holding up a new nuclear disarmament treaty. ugg boots The statement said the two issues were completely separate, and discussions would continue separately. Russia and the US are yet to find a successor to the Cold War-era Start I treaty, which expired on 5 December. Analysts say Moscow wants a clause in the new treaty that would limit the scale of any US defence shield. The US has shelved plans for missile defence stations in Central Europe, but intends to use a sea-based system. cheap ugg boots The BBC's Imtiaz Tyab in Washington says it is clear from Mr Putin's comments Russia still sees any missile shield as a threat - one it is now pledged to counter. But the hardening of Russia's position must be frustrating for US President Barack Obama, our correspondent says, after the concessions he has made. 'Keeping the balance' uggs The US statement said that Washington and Moscow's joint position recognising the inter-relationship between defensive and offensive weapons systems had not changed. "While the US has long agreed that there is a relationship between missile offence and defence, we believe the Start follow-on agreement is not the appropriate vehicle for addressing it," it said. "We have agreed to continue to discuss the topic of missile defence with Russia in a separate venue." UGG Australia Earlier Mr Putin said the US plans would allow them to do whatever they wanted and thus upset the balance. He said that "to preserve the balance, we must develop offensive weapons systems", but did not specify what kinds he had in mind. Earlier this month, President Dmitry Medvedev said Russia would continue to develop new warheads, delivery vehicles and launchers despite the disarmament talks, describing this as "routine practice". ugg boots on sale Russia and the US are negotiating in Geneva on the details of a new treaty. Last week, the Russian foreign minister said a deal was very close. The 1991 Start I treaty led to deep cuts in nuclear arsenals by Washington and Moscow. Both sides have agreed to continue observing Start I until they reach a new agreement. Under a joint understanding signed in July, deployed nuclear warheads should be cut to fewer than 1,700 on each side within seven years of a new treaty - a huge cut on Soviet-era levels. Ugg Classic Mini Nonetheless, between them the two countries will retain enough firepower to destroy the world several times over. The BBC's Rupert Wingfield-Hayes in Moscow says that Russia's nuclear arsenal is the only part of its military that remains world-class, and therefore it fears that it could be disadvantaged by cuts to nuclear capability. Ugg Classic Short Mr Putin's comments could be a negotiating ploy, rather than a reversal of Russia's commitment to a treaty, our correspondent says. Analysts in Moscow think what Mr Putin really wants is a commitment from Washington to only deploy a small-scale missile defence system, that would be effective against Iran and North Korea but would not neutralise Russia's nuclear missile force, he adds.
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Dec. 27, 2009 - At least 5 killed in Iran protests |
| Iranian security forces fired on stone-throwing protesters in the center of the capital Sunday in one of the bloodiest confrontations in months, opposition Web sites and witnesses said. At least five people were killed. Ugg Boots Some accounts of the violence in Tehran were vivid and detailed, but they could not be independently confirmed because of government restrictions on media coverage. Police, who denied using firearms, said dozens of officers were injured and more than 300 protesters were arrested. The dead included a nephew of opposition leader Mir Hossein Mousavi, according to Mousavi's Web site, Kaleme.ir. The clashes were sure to deepen antagonism between the government and a reform movement that has shown resilience in the face of repeated crackdowns. Cheap Ugg Boots The street chaos coincided with commemorations of Shiite Islam's most important observance, Ashoura, fueling protesters' defiance with its message of sacrifice and dignity in the face of coercion. Still, many demonstrators had not anticipated such harsh tactics by the authorities, despite police warnings of tougher action against any protests on the sacred day. Amateur video footage purportedly from the center of Tehran showed an enraged crowd carrying away one casualty, chanting, "I'll kill, I'll kill the one who killed my brother." In several locations, demonstrators confronted security forces, hurling stones and setting their motorcycles, cars and vans ablaze, according to video footage and pro-reform Web sites. Infant Erin Ugg Boots Protesters tried to cut off roads with burning barricades. One police officer was photographed with blood streaming down his face after he was set upon by the crowd. There were unconfirmed reports that four people died in protests in Tabriz in northwest Iran, the pro-reform Rah-e-Sabz Web site said. Fierce clashes also broke out in Isfahan and Najafabad in central Iran and Shiraz in the south, it said. Mousavi's Web site said the nephew, Ali Mousavi, was shot in the back on Azadi Street, or Freedom Street, during clashes in which security forces reportedly fired on demonstrators, and was taken to Ibn Sina Hospital. It said Mousavi and other family members rushed to the hospital. Air Jordan 15 A close aide to Mousavi, a presidential contender in a disputed June election, said Ali Mousavi died of injuries in the hospital. The aide spoke on condition of anonymity because of fears of reprisals from the government. The protests began with thousands of opposition supporters chanting "Death to the dictator," a reference to hard-line President Mahmoud Ahmadinejad, as they marched in defiance of official warnings of a harsh crackdown on any demonstrations coinciding with Ashoura. The observance commemorates the seventh-century death in battle of one of Shiite Islam's most beloved saints. UGG Classic Security forces tried but failed to disperse protesters on a central Tehran street with tear gas, baton charges and warning shots. They then opened fire on protesters, said witnesses and the Rah-e-Sabz Web site. The site said that in addition to Mousavi's nephew, four protesters were fatally shot ¡ª Mahdi Farhadinia, Mohammad Ali Rasekhinia, Amir Arshadi and Shahram Saraji. Witnesses said one victim was an elderly man who had a gunshot wound to the forehead. He was seen being carried away by opposition supporters with blood covering his face. More than two dozen opposition supporters were injured, some of them seriously, with limbs broken from beatings, according to witnesses. Classic Cardy Ugg Boots An Iranian police statement said five people were killed in the unrest. "Experts are seeking to identify the suspicious elements," the statement said. Iran's deputy police chief, Ahmad Reza Radan, said one person died after falling from a bridge, two were killed in a car accident, and a fourth was fatally shot. "Given the fact that police did not use firearms, this incident looks completely suspicious and the case is under investigation," Radan said. He said dozens of injured police were treated in hospitals, and more than 300 "seditionists" were arrested. The clashes marked the bloodiest confrontation since the height of unrest in the weeks after June's election. The opposition says Ahmadinejad won the election through massive vote fraud and that Mousavi was the true winner. Short Metallic Ugg Boots Reporters from foreign media organizations were barred from covering the demonstrations on Tehran's central Enghelab Street, or Revolution Street. Video footage circulating on the Web could also not be authenticated. Ambulance sirens wailed near the site of the protests. Police helicopters circled as smoke billowed over the capital. Cell phone services were unreliable and Internet connections were slowed to a crawl, as has happened during most other days of protest in an apparent government attempt to limit publicity and prevent protesters from organizing. The Dec. 20 death of the 87-year-old Grand Ayatollah Hossein Ali Montazeri, a sharp critic of Iran's leaders, has given a new push to opposition protests. His memorials have brought out young, urban activists who filled the ranks of earlier protests, and older, more religious Iranians who revered the cleric. Tens of thousands marched in his funeral procession in the holy city of Qom on Monday, many chanting slogans against the government. Tall Metallic Ugg Boots Opposition leaders have used holidays and other symbolic days in recent months to stage anti-government rallies. Iran is under pressure both from its domestic opposition within the country and from the United States and its European allies, which are pushing Iran to suspend key parts of its nuclear program. U.S. National Security Council spokesman Mike Hammer, speaking in Hawaii Sunday, where U.S. President Barack Obama is vacationing, denounced Tehran's "unjust suppression of civilians." Air Jordan 16 Foreign Minister Carl Bildt of Sweden, which holds the rotating presidency of the European Union, expressed concern about the "increased repression" in Iran. "A regime secure in its own legitimacy has no reason to fear individuals' rights to express their opinions freely and peacefully," he wrote on his blog Sunday.
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Dec. 24, 2009 - Sunnyvale's Pooch Hotel provides facials, fun for canine companions |
| Spending the day at the spa getting a pedicure, massage and underwater workout in an indoor salt water pool is becoming the norm for a growing number South Bay of residents who might otherwise spend the day sleeping on the ground. UGG Gypsy sandals Since the opening of Pooch Hotel in Sunnyvale last September, hundreds of dogs from throughout Silicon Valley have been guests at the luxury pet hotel. The Sunnyvale site at 180 N. Wolfe Road, is the first and only California location in the hotel chain that Robin Tomb launched in Chicago in 2004, and is one of the few accommodations for dogs only that offers facials, luxury suites with flat-screen televisions and a "Zen den" for message therapy and relaxation. For skeptics who thought that opening a hotel exclusively for dogs would be doomed in a down economy, think again. The hotel's grand opening on Sept. 26 attracted swarms of people in the lobby waiting to tour the hotel, and interest hasn't ebbed. Nike Air Jordan 2009 With the holidays approaching, staff said the hotel is nearly at capacity. Pooch Hotel is among the pet specialty businesses, such as dog bakeries and pet clothing boutiques, that have continued to bring in profits. According to the Daily News, the American Pet Products Association reported that Americans spent $43.2 billion on their animals in 2008 and are expected to have spent $45.4 billion by the end of this year. Tomb said she's not surprised that people are continuing to pamper their pets. Many people, including herself, think of pets as their children, she said. Tomb said her own pets were the reason she started the company. Cameroon jersey While working in high tech, Tomb said she always felt uncomfortable when she had to leave her pets at a daycare or boarding facility. Then, she thought she should combine her passion for business and pets and open a hotel specifically for dogs. The hotel is open 24 hours a day, 365 days a year, for drop-off and pick-up; it even offers a home pick-up and delivery option within certain boundaries. Pooch Hotel has 30,000 square feet for dogs to roam around and features three different types of suites for overnight stays. All suites offer glass doors and no bars or metal cages. The presidential and palace suites have flat-panel TVs and web cameras so that owners may check on their pets at any time. Room rates range from $50 for the junior suite and up to $100 a day for the palace suite. UGG Halendi sandals Sue Petersen is among the hotel's regular customers. She said the hotel's large play area and variety of activities are among the reasons she brings her bichon frise, Kody, there on a regular basis. " I was looking for a place to take Kody where he would not curl up in a corner and sleep all day," Peterson said. "The staff are interactive with the dogs and keep them energized and active. They treat the pets as if they were their own pet." For more information about Pooch Hotel, call 88.DOG.8199 or visit poochhotel.com.
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Dec. 22, 2009 - House Democrat announces switch to GOP |
| A Democratic House member who has opposed several of President Barack Obama's top domestic agenda items is switching to the Republican Party. Jordan shoes 1 Rep. Parker Griffith of Alabama, who hails from a heavily conservative congressional district, announced Tuesday that he will join the GOP. "I have become increasingly concerned that the bills and policies pushed by the current Democratic leadership are not good for north Alabama or our nation," he said during a press conference to announce the switch. "More importantly, they do not represent my values and convictions." After being narrowly elected in 2008, Griffith voted against the Obama-backed economic stimulus package in February, and he opposed the House version of health care reform legislation. He was one of only four Democrats who voted against each of three of Obama's top legislative priorities in 2009: health reform, the stimulus, and cap-and-trade energy legislation. soccer jerseys "I can no longer align myself with a party that continues to pursue legislation that is bad for our country, hurts our economy, and drives us further and futher into debt," Griffith said. Before Parker's defection, Democrats held a 258-177 majority in the House. Griffith's move would reduce that advantage by one seat. The lawmaker's intention to switch parties was first reported by POLITICO. Earlier this year, Griffith announced that he would vote for the challenger, whomever that may be, against Nancy Pelosi, D-Calif., in her re-election bid for House Speaker in the next Congress if Democrats maintain their majority. Jordan shoes 5 National Republican Conference Committee Chairman Pete Sessions, R-Texas, praised Griffith in a statement, saying that the Alabama lawmaker's decision is "emblematic" of Americans' uneasiness with the Democratic Party's agenda. Democrats said Tuesday that they are not surprised by the switch, given Griffith's opposition to his now-former party's legislative priorities. nba jerseys "He went off the reservation a long time ago," a Democratic aide told NBC News. "This just confirms what we already knew for a long time. This is not based on [Griffith's] voting record. It's the way in which he's conducted himself." The Democratic Congressional Campaign Committee, the political arm of House Democrats, spent more than $1.2 million on Griffith's run in 2008, for his first term in office. Ugg Boots Despite his voting against major Democratic initiatives, the Democratic aide said Griffith will likely have to face a tough GOP primary because of other instances in which he voted in line with Democrats ¡ª particularly to approve the Troubled Asset Relief Program and several spending bills.
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Dec. 20, 2009 - Radio giant Citadel files for bankruptcy protection |
| Citadel Broadcasting Corp., the nation's third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection Sunday in an effort to restructure its hefty debt load as it continues to face declining advertising revenue. Uggs Outlet Citadel owns and operates 224 radio stations, including KABC-AM (790) in Los Angeles, WLS-AM (890) in Chicago, WABC-AM (770) and WPLJ-FM (95.5) in New York and KGO-AM (810) in San Francisco. Citadel's WABC is home to several syndicated hosts, including Don Imus, Rush Limbaugh, Joe Scarborough and Mark Levin. Ugg Classic Short In documents filed in U.S. Bankruptcy Court for the Southern District of New York, Las Vegas-based Citadel listed total assets as of Oct. 30 of $1.4 billion and total debt of $2.5 billion. The company said in a statement that it had reached an agreement with more than 60% of its lenders on a deal that would erase about $1.4 billion of debt in exchange for control of the company. jordan shoes Such deals usually wipe out shareholders completely. That hits private equity firm Forstmann Little & Co. -- which holds a nearly 29% stake -- the hardest. The company's largest shareholder acquired a $2-billion stake in Citadel in January 2001 through a leveraged buyout. Forstmann Little could not be reached for comment. soccer jerseys "Our business will continue as usual and the company will work to emerge from the restructuring process as quickly as possible," Citadel Chief Executive Farid Suleman said in a statement. Citadel has retained turnaround specialist Alvarez & Marsal.
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Dec. 17, 2009 - Biden unveils federal broadband stimulus projects |
| Vice President Joe Biden on Thursday announced the first $182 million in federal stimulus money for 18 projects to expand high-speed Internet networks in rural areas and other underserved communities. Uggs Outlet Biden spoke at Impulse Manufacturing, a technologically advanced metalworks plant in north Georgia whose business has been held back by the lack of a broadband network in its part of the state. The projects are the first part of a $7.2 billion plan to bring high-speed Internet connections to rural areas, poor neighborhoods and Native American communities. Besides Georgia, other projects in the first set will be in Maine, New Hampshire, Ohio, Arizona and Alaska. Ugg Classic Short Joined by Gov. Sonny Perdue, Biden told a crowd of workers, business leaders and lawmakers that creating the networks could help smaller businesses compete globally. "We're forming the tools that will fashion the work of the 21st century," Biden said. "We are laying the foundation for the economy of tomorrow." The administration plans to award a total of $2 billion in grants and loans on a rolling basis over the next 75 days as it starts doling out the first round of stimulus funding for broadband, which Biden said could be used to help struggling rural areas like Dawsonville with distance learning, telemedicine and real-time pricing for farmers. Ugg Boots He also tied broadband to the future success of the country's manufacturing industry and middle class. "We were losing ground for the past 25 years in manufacturing," Biden said. "We don't want an economy built on another bubble. We want to do what our grandparents did ... and build on a solid foundation." The Department of Agriculture also announced $53.8 million in funding for eight projects on Thursday, and the Commerce Department announced $129 million in funding for 10 projects. Those projects together also will put up another $46 million in matching dollars. The money is being targeted for "last-mile" connections that link homes, businesses and other end users to the Internet; "middle-mile" connections that link communities to the Internet backbone; computing centers in libraries, colleges and other public facilities; and adoption programs that teach people how to use the Internet and encourage them to sign up for broadband services. Wholesale Ugg Boots The awards announced Thursday include: _ A $33.5 million grant to the North Georgia Network Cooperative for a fiber-optic ring that will bring high-speed Internet connections to the northern Georgia foothills of the Appalachian Mountains. The project will serve an eight-county area with a population of 334,000. _ A $25.4 million grant to the Biddleford Internet Corp., a partnership between the University of Maine and service providers, to build three fiber-optic rings across rural Maine. The network will pass through more than 100 communities with 110,000 households and will connect 10 University of Maine campuses. Cheap Ugg Boots _ A combined grant/loan of $2.4 million to the Consolidated Electric Cooperative in north central Ohio to build a 166-mile fiber network that will be used, among other things, to connect 16 electrical substations to support a smart grid project. Other projects receiving funds include a 4G wireless network to be built by an Alaska Native Corporation in southwestern Alaska, a fiber-to-the-home project in a remote corner of New Hampshire and computer centers for 84 libraries in Arizona. Ugg Classic Tall Congress included $7.2 billion for broadband projects in the stimulus bill to create jobs and bring new economic opportunities to parts of the country left behind in today's digital age. That includes $4.7 billion to be awarded by the National Telecommunications and Information Administration, an arm of the Commerce Department, and $2.5 billion to be awarded by the Rural Utilities Service, part of the Agriculture Department. UGG Classic Argyle Knit Demand for the broadband money has been intense ¡ª far outstripping the amount of federal dollars available. The Commerce and Agriculture Departments received nearly 2,200 applications submitted by local governments, inner-city community groups, rural cooperatives, non-profits and for-profit corporations in every corner of the country. They asked for a total of $28 billion to pay for fiber-optic lines, wireless clouds, computer labs, Internet training programs, municipal communications networks and a range of other projects to bridge the so-called digital divide.
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Dec. 17, 2009 - Calif. apartments evacuated as cliff crumbles |
| A crumbling cliff forced residents to grab what they could and flee an apartment building atop a Northern California coastal bluff over fears it could slide into the Pacific. Uggs Outlet Building officials in Pacifica ordered residents out immediately Thursday morning as large chunks of cliff plunged into the ocean, leaving the 12-unit building just 10 feet from the edge of the wave-battered 50-foot bluff. The evacuation order was issued after part of the cliff, saturated by recent storms, broke off around 5:30 a.m., chief building official Doug Rider said. Ugg Classic Short An initial evacuation deadline of 5 p.m. was moved up as the cliff continued to crumble. Moving trucks filled the street as about 20 frantic residents packed up what belongings they could. "It's been insane. I can't even think," said Amanda O'Connell, 24, a swim teacher in this town of 38,000 about 10 miles south of San Francisco. O'Connell said residents were warned earlier in the week about the deteriorating bluff. She and her boyfriend decided to move some of their larger possessions out early, just in case, she said. Ugg Boots "This whole week has been the most stressful week of my life," she said. Two nearby buildings also were being monitored but remained stable for the time being, thanks to a wave-deflecting barrier of boulders at the bottom of the bluff, Rider said. The barrier was erected last spring but did not protect the entire beach. The cliff began crumbling before the barrier could be completed. Wholesale Ugg Boots The building's owners have received an emergency permit from the California Coastal Commission to put a barrier in place, Rider said. Work was scheduled to begin Friday with a crane lifting boulders over the building down to the beach, he said The erosion of the bluff's sandy soils is a natural occurrence exacerbated by the region's wet winters. Officials had been monitoring the buildings since recent heavy rains. If the barrier halts the erosion, residents could return to the building eventually, Rider said. Rick Jenkins, 62, lives in the building next to the evacuated apartments. He said the sound of the cliff breaking apart Thursday morning was like thunder or an earthquake. cheap ugg boots Much of the cliff in front of his own home had fallen away about 18 months ago before the boulders were brought in, he said. Gesturing toward the wide blue expanse of ocean that greets him every morning, he said the risk was worth it. "You either move or you don't," he said. "I guess when they say it's time to go, you go."
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Dec. 17, 2009 - Obama's hopes for health care and climate bills -- at the mercy of others |
| Two of President Obama's biggest issues -- health care and climate change -- are now at the mercy of negotiations involving many different players and many different views. Cheap Ugg Boots On health care, Sen. Ben Nelson, D-Neb., continues objecting to a Senate health care bill because it includes abortion rights. And former Democratic Party chair Howard Dean has urged senators to drop the plan completely because it does not include a publicly funded health insurance option. "The president is dealing with the legislative process," said spokesman Robert Gibbs. He "isn't generally presented with either/or options that always include everything he wants. That's part of the legislative process." Defeat on health care would cripple other Obama legislative efforts, including a global warming bill to reduce greenhouse emissions -- an effort that will also be influenced by events at the ongoing environmental summit in Copenhagen. Ugg Boots on sale The talks there include battles between wealthier countries and poorer ones who want financial help on developing cleaner sources of energy. There's also a tiff between the United States and China over how to verify pledges by each nation to reduce greenhouse gases. Ugg Sheepskin Boots Obama is looking to work on these and other issues when he lands in Denmark early Friday morning, Gibbs said. "The president is hopeful that his presence can help ... (and) we leave Copenhagen with a strong operational agreement, even as we work towards something even stronger in the future," Gibbs said.
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Dec. 11, 2009 - Apple to Nokia: 'Stop Stealing Our Technology!' |
| Apple and Nokia are getting into the holiday spirit this year by suing one another over a patent dispute. Ugg Boots The fun started this past October when Nokia sued Apple for allegedly infringing on 10 of its patents that covered a wide range of mobile data technologies, including speed encoding and decoding, security and encryption. At the time, the Finnish smartphone manufacturer accused Apple of trying to get a "free ride" off of its intellectual property. Top 10 iPhone business apps Friday, however, Apple accused Nokia of allegedly infringing on 13 of its patents and pointedly told Nokia that "other companies must compete with us by inventing their own technologies, not just by stealing ours." Apple did not detail what patents Nokia allegedly violated but instead provided a long list of the company's accomplishments, such as "igniting" the "personal computer revolution." Wholesale Ugg Boots With regard to Nokia's original suit, the company has claimed that some 40 companies have licensed the 10 patents that it has accused Apple of infringing upon. Nokia also claims that it has spent upwards of $60 billion over the past 20 years in R&D to procure its key tech patents. jordan shoes The Apple-Nokia spat is the second high-profile tech-related lawsuit to generate headlines in the past few weeks. In November, AT&T filed a lawsuit against Verizon alleging that the carrier's "There's a Map for That" ads falsely assert that AT&T has major gaps in its wireless coverage. In Verizon's response filed with the U.S. District Court for Northern Georgia, the company eschewed standard legalese and instead launched into a bombastic broadside against its rival. AT&T decided to drop the suit earlier this month after its initial efforts failed to get Verizon to take its ads off the air. See more like this: apple, Nokia, legal issues
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Dec. 9, 2009 - Audit: Taxpayers lose $61B on AIG, auto bailouts |
| The Treasury Department is acknowledging for the first time that it lost $61 billion on two key programs designed to stabilize the economy after the largest financial crisis in decades. Jordan shoes 18 The government is losing more than $30 billion on lifelines extended to insurance giant American International Group Inc., according to Treasury data released Wednesday in an audit by the Government Accountability Office. It also is losing more than $30 billion on rescues of struggling automakers Chrysler and General Motors. Treasury says the losses are offset in part by profits earned from bank bailouts. It says the bank bailouts will net taxpayers $19.5 billion. Over all, the bailouts are projected to cost taxpayers $41.5 billion. Ugg Morocco sandals THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below. WASHINGTON (AP) ¡ª The Obama administration has extended the $700 billion financial bailout program until October, setting up a struggle between Democrats who favor using some of the leftover money to help generate jobs and Republicans who say it should be used to shrink soaring budget deficits. The administration insists the bailout fund is still needed to prevent further turmoil in the banking system. In announcing the decision Wednesday, Treasury Secretary Timothy Geithner said extending the program also will help homeowners struggling to avoid losing homes to foreclosures and small businesses having trouble getting loans. Pittsburgh Pirates jerseys The administration is now projecting the losses to the government from the bailout program will be around $141 billion ¡ª $200 billion less than it estimated two months ago. President Barack Obama said the freed-up money can help reduce the record-high federal budget deficit and "invest in job creation on Main Street rather than Wall Street." Obama spoke to reporters after a meeting with congressional leaders aimed at providing momentum for a new jobs program he outlined Tuesday. That effort seeks to combat the nation's 10 percent unemployment rate by providing tax breaks to encourage companies to hire new workers, increase bank lending to small businesses and provide a fresh round of infrastructure spending. Ugg Classic Short The administration has not provided details on the size of the new spending package. But Democratic leaders suggested it could cost between $75 billion and $150 billion. Democrats initially hoped to pass Obama's proposals this month. But the proposals likely will slip until early January, given opposition from Republicans and the to-do list already facing Congress as it struggles to finish business before Christmas. Both the administration and Democratic leaders have indicated they want to divert some of the unspent bailout funds to a jobs program. Their goal is to refashion a hugely unpopular program viewed by voters as a taxpayer-funded bailout for big Wall Street firms that then reaped millions of dollars in lavish bonuses. Republicans vowed to keep trying to close down the rescue program by the end of this month. They said any leftover funds should be devoted exclusively to curbing the country's soaring budget deficits. Philadelphia Phillies jerseys "The Obama administration just can't seem to let go of the $700 billion in 'walking around money' taxpayers were forced to put on the line to bailout Wall Street last year," said Rep. Jeb Hensarling, R-Texas. Republicans also criticized Treasury for using the Troubled Asset Relief Program as a slush fund to support programs that Congress never intended ¡ª including bailouts of automakers and failing insurance giant American International Group Inc. "American taxpayers have had enough of open-ended bailouts that have left them stuck with trillions of dollars in new debt," House Republican Leader John Boehner, R- Ohio, said Wednesday. "TARP should be shut down by the end of the year. It's time to get the government out of the bailout business." Ugg Tasmina Braid Sandals Geithner contended that the bailout program helped avert a worse financial outcome. Financial conditions have improved, and the economy has finally pulled out of a deep tailspin and is starting to grow again. Repayments from banks who received TARP support will soon total $116 billion, including $45 billion from Bank of America Corp. The government expects up to $175 billion in repayments from rescued companies by the end of next year, he said. The TARP was passed during the height of the financial crisis in October 2008 and was scheduled to expire at the end of this year. In his notification to Congress, Geithner said it will be extended until Oct. 3, 2010, "to respond to an immediate and substantial threat to the economy stemming from financial instability." Geithner said the administration planned only limited use of the TARP over the next year. He expects $550 billion of the $700 billion will be spent. There was $364 billion committed in the 2009 budget year that ended on Sept. 30. Of that, Geithner estimated the government would not recover $42 billion. Jordan shoes 19 The new commitments would be limited to three areas: support to avert mortgage foreclosures, boosting capital for small and community banks that are principal lenders to small businesses, and a potential increase to a joint program with the Federal Reserve designed to bolster consumer and small business lending. Geithner said of the $141 billion in expected losses, about $25 billion should be incurred in the current budget year. "The vast majority of these potential costs" would come from efforts to prevent mortgage foreclosures. In a report Wednesday, a TARP watchdog panel said the fund helped ease last fall's financial panic but was less successful in meeting other goals Congress set. These include reducing foreclosures and unfreezing credit for consumers and businesses. Jordan shoes 20 "Congress set goals for the TARP that went well beyond short-term financial stability, and by that measure problems remain," said panel chair Elizabeth Warren. The report found the program's effects have been uneven. A $75 billion initiative to stem the wave of foreclosures has "failed," and Treasury's actions had granted big banks an "implicit guarantee" that the government would bail them out, Warren said. Ugg Tasmina Sandals The government still is guaranteeing billions of dollars in bank assets, which along with debt guarantees from the Federal Deposit Insurance Corp., amount to ongoing subsidies that may mask the condition of the financial markets, the report said. Treasury responded that the TARP has "by every measure ... succeeded in achieving its primary goal of economic stabilization." St. Louis Cardinals jerseys But the TARP panel, established by Congress to provide independent oversight, noted that bank failures continue and access to credit remains tight. It said the program's progress toward goals necessary for financial stability and economic growth "is less clear."
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Dec. 7, 2009 - Commando units arrest civilians in Guinea |
| Commando units loyal to the wounded leader of Guinea's military junta swept through neighborhoods near the capital on Monday, arresting civilians believed to have ties with the renegade soldier that tried to assassinate their leader. Ugg Dakota sandals The arrests came as the ruling junta tried to reassure the population about the president's health, insisting that that Capt. Moussa "Dadis" Camara was recovering well from a surgery in a Moroccan hospital where he had been rushed for emergency treatment, but the capital remained tense as the fate of the military dictatorship remained unknown. Residents said that at least three military pickup trucks filled with soldiers wearing fetishes in their hair descended on a street of corrugated tin shops, looking for a marabout, or local witch doctor. The young man fled but was pursued by the soldiers, who opened fire, wounding him, said the residents who showed the AP the trail of blood he left in the alley down which he tried to run. He is rumored to have been one of the witch doctors that performed spells for Lt. Abubakar "Toumba" Diakite, the former head of the presidential guard, who opened fire on the head of the junta last Thursday. Bolivia jersey The security sweep showed that the military is widening its net to include civilians. Earlier, only soldiers allied with Diakite had been arrested. The arrests came one day after the junta announced a toll-free number where citizens could call with tips on the whereabouts of the wanted lieutenant. The soldiers came back three different times, arresting four people in all, including an imam in his 70s or 80s who was returning from evening prayers at the local mosque. The arrests and the volleys of gunfire sowed panic. It reverberated across the capital as Guinea entered a fifth day without a clear sense of whether the 45- year-old army captain who grabbed power in a coup a year ago would survive his wounds. Ugg Boots In an effort to tamp down speculation that he was badly hurt, the country's foreign minister said Monday that Camara is conscious and speaking. "I saw him, I spoke to him, he answered me, all this shows that he retains his mental faculties," Alexandre Cece Loua told the AP in the Moroccan capital, Rabat. "He recognizes his entourage. His breathing is not assisted." But a doctor who saw Camara's CAT scan and who agreed to speak to the AP on the condition of anonymity due to patient confidentiality said the bullet had skimmed the right side of the leader's skull, causing a splinter of bone to wedge itself in his brain. He said the injury could be life-threatening if it causes excessive swelling in the brain, but he added that he was told by the technician who administered the scan that Camara had been able to step inside the CAT scan tunnel without assistance ¡ª indicating that he was still mobile before the surgery was performed. Fashion Ugg Boots Even if the piece of bone can be removed, the doctor said Camara could suffer mental impairments, especially memory loss, given that the frontal part of the brain, where memory is stored, was touched. Opposition leaders held a meeting Monday at the home of Jean Marie Dore, the spokesman for the various opposition voices in the country. "What we need to know is the exact status of his health. How is he really doing? Until we know that, it is very hard to make a decision on how to move forward." Jordan shoes 3 Camara came to power last December after the death of the country's former strongman, Lansana Conte ¡ª who was also a captain in the Guinean army when he grabbed power 24 years earlier. Conte's regime had been marked by excessive corruption and Camara promised he had come to "clean." He promised to punish all those who had embezzled from the state and then to hand over power to civilians in democratic elections in which he would not run. It was only months before he reversed course. In September, the presidential guard opened fire on unarmed protesters demanding an end to military rule, killing at least 157 people. Dozens of women were raped by the presidential guard, including with rifle barrels. Several died after the soldiers who raped them shot them in their genitals. The shocking level of violence prompted the African Union and the European Union to immediately impose an arms embargo on Guinea and to impose sanctions, including a travel ban on top members of the junta. The army, which was already deeply divided, began to fracture further as leaders of the massacre began pointing the finger at each other. Cheap Ugg Boots The tension increased last week as a U.N. commission investigating the killings began interviewing members of the junta in an effort to assign blame. Residents feel helpless in the face of the heavily armed presidential guard, whose members zoom through town in pickups, pushing other cars onto the shoulder. Residents say the guardsmen routinely enter bars, order what they want and leave without paying. Gas stations close early because they are afraid the armed men will demand their tanks be filled for free. Brazil jersey In the Conakry suburb of Cosa, debris the soldiers left behind was strewn in the narrow alleys. A torn poster of an opposition leader lay on the ground. So did a pile of cowrie shells from the witch doctor's shop. Another shop had six holes where a soldier had tried to cut his way in with a machete. Ugg Gypsy sandals The marabout's blood was still visible, a dotted line in the direction of where he had tried to flee.
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Dec. 7, 2009 - Bombings kill 46 people in 2 Pakistan cities |
| Bombings in two Pakistan cities killed 46 people Monday, as militants struck back in the wake of an army offensive against a Taliban stronghold in the northwest near the Afghan border. UGG Coquette Sandals Two synchronized bombs ripped through a market popular with women in the eastern Pakistani city of Lahore about 9 p.m., igniting a massive fire that killed 36 people, authorities said. Hours earlier a suicide bomber killed 10 people outside a courthouse in the northwestern city of Peshawar. About 100 people were wounded in the attacks in Lahore, which were timed to take place when the Moon Market was as its busiest. Authorities initially said both bombs were believed to be remote-controlled, but they later said a suicide bomber was suspected to have carried out at least one of them. The blasts came within 30 seconds of each other, leaving dozens of cars and shops ablaze late into the night. Jordan 6 Many victims were women and children, including a dead 2-year-old, a police officer said. Most of the militant attacks in recent weeks have been directed at security forces, though several have targeted crowded public spaces like markets, apparently to create public anger and increase pressure on the government to call a halt to the offensive. More than 400 people have been killed since the beginning of October, including 105 in a Peshawar market frequented by women. That attack occurred while U.S. Secretary of State Hillary Clinton was visiting Pakistan. The Taliban generally claim responsibility for those attacks killing security officers, but they do not acknowledge carrying out the attacks targeting civilians. Government officials and security analysts say there is little doubt the militants are behind all the attacks. Moon Market sells women's clothing, shoes and cosmetics. AC Milan JERSEY Lahore's top government official, Khusro Pervaiz, said there were 36 dead and about 100 wounded. "There was a blast. Then there was another," said Mohammad Nauman, who was bleeding from his nose. "Nobody knew what was happening. Everybody was running. There was fire everywhere." Lahore is Pakistan's second-largest city. It has been hit several times by militants over the past year, including an attack on the visiting Sri Lankan cricket team and several strikes against security installations. Ugg Ultra By attacking Lahore, militants are bringing their war to the heart of Pakistan. The city is the capital of Punjab, Pakistan's most populous province, and is considered the political and cultural center. It is also home to many army regiments because of its location next to the border with India, Pakistan's longtime foe. The attacks came hours after a suicide bomber killed 10 people outside a courthouse in Peshawar, a northwestern city that has been repeatedly hit by bombings since October. It lies on the main road into the border region, much of which is under the control of al-Qaida and the Taliban. The attacks have coincided with rising speculation over the future of President Asif Ali Zardari. Jordan 7 On Monday, the Supreme Court began examining the legality of an amnesty protecting him and 8,000 other officials from graft prosecution. The amnesty expired last month, and judges must rule on whether to reopen corruption cases against them. Although Zardari has immunity from prosecution as president, some experts say the court could now take up cases challenging his eligibility to run for office. Ugg Dakota sandals Zardari is unpopular according to opinion polls and has been criticized for rarely leaving the palace and meeting victims of the Taliban. There have also been media reports of a rift between him and military chief Gen. Ashfaq Parvez Kayani. On Monday, he and Kayani visited a hospital and met soldiers wounded in an attack last week on a mosque used by the army.
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Dec. 4, 2009 - RenZhiJiang says young Chinese should buy room |
| A series of humble abode caused a nationwide about today's surging house prices and the housing problem. Afteruggs graduation from the university entered job soon after the young children should actually 80 to buy a house? In youth, RenZhiJiang homeownership again "outspoken" : the young afford to buy the houses. China under 40 purchase high proportion worldwide. RenZhiJiang said, if you come from developed countries, 30 years oldugg of the following person didn't work yourself in a few years, he went to the house nearly independent income for 0, very little. If enough to meet future income or buys housing mortgage payment, the ability to ugg boots shoesbuy room. China's traditional habit let everybody have to buy a house, so young people buy high in proportion. In China, the proportion of purchase under 40-60 close to 70%, and the proportion of all over the world have no reason lies in China, the house is too expensive, the reason also lies in China has a huge aboutuggs 50 years housing system, so the welfare of the people prefer to have private housing to their dreams. In the United States, RenZhiJiang said a room have a car is a dream, if the developed countries such as the United ugg bootsStates and China have called the dream in about 30 people realize this dream, it should be said that China's consumption capacity and consumption idea, has far surpassed some developed countries or many developed ugg boots shoescountries. "Resident shall have their" instead of "home". RenZhiJiang think it, most people are about 40 to house ended, 30 years old the following person is to be without a house. Marriage is often live collective dormitory, share the house is very prevalent phenomenon. RenZhiJiang said: "why now young people willugg shoes suddenly beyond their fathers? Here is one of the biggest mistake idea, is the housing system, always say home ownership, generally speaking, should be home, there is a place to live." RenZhiJiang "shocking" sayings1 "fans to sell the price just fin bubble". "The world economy in China's bubble ugg bootsis only after the words. Only to sell the price of fin fan is real estate bubbles. Is expensive, but the shark's fin fin nor bubble, fans and the price of fans, nor bubble". "Everyone who has its afford to buy". "the person should not buy commodity house, enjoying national distribution or limit, low-cost housing supply mode should not buy ugg boots on salecommodity house. Because of its" has become the understanding to the "have the house property that produces social debate and policy." 3 "estate business need to store the grain heart is not panic." "now the supply of commodity index is less and less, land and resources, this also said 81 city increased so much supply, 80% is ugg shoeseconomy applicable room, 20% is commodity house. If you are worried about the next meal, real estate is to store the grain, the hand is not panic in." 4 "wage rises in price rise in GDP rose is wrong." not "wage rises in price rises in GDP, up, not the world. No one in the house when the national income growth,uggs outlet reduce or not doesn't accord with the economic law." 5. "the Chinese are very rich, the house is too cheap." "why China accounted for 30 years old of the following house than 30% above is China's house? That's too cheap. In fact, in euramerican, Japan, South Korea, 30 years old the following the young man is can't afford to buy augg boots on sale house. Young people in China should also is such. But now young people in China, is basically rely on parents' support to afford the house, also is the typical 'boomerang child." 6. "we only when the maid." "The state-owned capital, entrepreneurs, state-owned government to do, don't let us do I do not do real estate. We Classic Ugg Bootsjust when the maid of, is all government. 7. "not for macro-control is to falling house prices, steady rise." "macro purpose is not to let prices, but let pricesuggs outlet stable growth, not because the prices would not fall. Macro-control." 8. "the price down, real estate developers have the right not to houses." If the market demand, small family more developers will continue to earn money, because. House prices will attract more developers to build a house, Conversely, if you don't ugg sandalscover, prices will go up by supply and demand -- anyhow. "9." it's real estate industry. "" no windfall profits of great support to build brand, therefore it should have property brand of profits. "10" I was not thinking, the businessman. "I'm a businessman, I should not be considered the poor. If you consider me as aClassic Ugg Boots poor, enterprise managers is wrong. For investors, let me take this money is to make money, rather than to relief for the poor. "11" didn't buy are lost. "" no buyers are lost. "People's incomes are rising, land resources, the two wholesale Ugg Bootshave not increase, the price can rise? " 12 for development of China "land many". "in fact, I have to China never felt no land in China, were square kilometers, we ugg sandalsonly national homeland of 0.3% in the same population density, 1% of the land can put China's 16 billion people will be placed in the city, and put forward by how much? Not much." 13 "high-grade houses is the poor afford." "from the investigation of China, with a second homes proportion only 8%, and less than 6% of thewholesale uggs commodity inside the village sessions. All lights, mainly in time, these two in the house was to afford. 14 "published hair traders cost equals to publish the wife of a man." developers measurements data is absolutely wholesale Ugg Bootscannot publish cost, this is a man to his wife's clothes are all steaks, let the public light measurements is a reasonable estimate, so basically impossible. 15 "I won't drop, let the house to house outside the town even with" I ". The prices do not drop "and PinZao reporter of Chinese people's political consultativeFashion Ugg boots conference, Beijing containment of Beijing group President RenZhiJiang, huayuan Beijing relaxing two suites purchase policies, let more wealthy households purchase from outside even. House prices is itself to control population growth and control the quality of the population. 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Dec. 3, 2009 - Suicide bomber hits Somali graduation, 22 dead |
| A suicide bomber disguised as a woman attacked a graduation ceremony in Somalia on Thursday, turning a rare reason to celebrate into carnage that killed at least 22 people ¡ª including medical students, doctors and three government ministers. Air Jordan 10 The blast was blamed on Islamic militants who have shown a rising ability to carry out sophisticated large-scale bombings against high-profile targets ¡ª and highlighted the inability of Somalia's weak government to protect even the small section of the capital it controls. "Today should have been a day of celebration ¡ª not mourning," said Somalia's ambassador to Kenya, Mohamed Ali Nur. "The hopes of many parents who eagerly awaited their sons' graduation were recklessly dashed ... cutting short the lives of ambitious Somalis." Several hundred people had gathered in the Shamo Hotel to watch the 43 medical, engineering and computer science students from Benadir University receive their diplomas when the blast ripped through the festively decorated ballroom. cheap UGG Boots Amateur video of the attack obtained by AP Television News showed the dead, including at least three journalists, lying in pools of blood amid the sound of wails and screams from the wounded. Soldiers, their AK-47 rifles slung over their shoulders, picked through the wreckage with their hands as survivors climbed over the debris of the bombed-out room. The attack targeted one of Somalia's most important efforts to extricate itself from anarchy and violence, explaining the presence of so many top government officials. The graduating medical students were only the second class to receive diplomas from the medical school. "The loss of our ministers is disastrous, but it is an outrage to target the graduation of medical students and kill those whose only aim in life was to help those most in need in our stricken country," Somali Prime Minister Omar Sharmarke said. Chicago Cubs jerseys Before last year's graduation, almost two decades had passed since anyone earned a medical degree in Somalia. At the December 2008 ceremony, graduates proudly hoisted their diplomas into the air. This year, there was mayhem as the bomb went off while a Somali official addressed the gathering, sending metal shards and other debris flying and leaving dead and wounded in bloody heaps. The bomb exploded about a yard from journalists covering the event. "The explosion occurred really close to me, about a meter away. I jumped over some of the dead people laying on the ground and I went outside," said Associated Press reporter Mohamed Olad Hassan. Ugg Classic Cardy "What I think is I was lucky and people who were next to me, closer to the explosion shielded me from the explosion. The explosion was still thundering in my ears when I got back to the office." Abdul Rahman Bukhari, a reporter for the Saudi-owned Al-Arabiya television station whose colleague, cameraman Hassan Zubeir, was killed, said the bombing "was the worst moment of my life." After the attack, overturned white plastic chairs and tables littered the floor, which was stained red with blood. A single sandal lay in a pool of congealed blood, along with a briefcase and graduation programs. Air Jordan 11 Bodies, some draped with blue cloths, lay alongside the wounded. One man in khaki pants and a white shirt sat in his own blood, twisting his head to watch as victims were dragged out of the building. On the steps outside, a dead man lay doubled over, his head resting on the blood-soaked ground as though he were praying. Sharmarke said it was "beneath contempt" to attack and kill students and called for urgent help from the international community to prevent the further rise of al- Shabab, a militant group with links to al-Qaida. "What happened today is a national disaster," said Somali Information Minister Dahir Mohamud Gelle, who confirmed that the ministers for education, higher education and health were killed in the blast. The ministers for sports and tourism were among the 46 wounded, he said. ugg shoes Twenty-two people were killed, along with the suicide bomber, Gelle said. The bomber "disguised himself as a woman, complete with a veil and a female's shoes," he said. In New York, the U.N. Security Council condemned the attack, saying: "This was a criminal attack on people dedicated to building a peaceful, stable and prosperous future for the people of Somalia." No group immediately claimed responsibility, but suspicion fell upon al-Shabab, which controls much of the country and has carried out past suicide attacks. African troops protecting the government wage near daily battles with Islamic militants who hold much of central and southern Somalia. Bombings have become deadlier as al-Shabab militants receive training from Arab militants and veteran insurgents from the Afghanistan and Pakistan conflicts. Cincinnati Reds jerseys Three journalists were reported killed. Besides Zubeir, two other Somali journalists working for local outlets also died, said Bashir Khalif, a reporter for the Somali government's radio service. The Committee to Protect Journalists confirmed the deaths of two journalists, bringing the number killed in Somalia this year to nine. "Somalia is the worst place for journalism in Africa and is very close to being the worst place in the world," said a committee official, Tom Rhodes. "Reporters are not only the victims of the conflict but the targets of the conflict." Top Somali officials, including the president and prime minister, met for an emergency session at the presidential palace after the attack. Benadir University was established in 2002 by a group of Somali doctors who wanted to promote higher education in a country where physicians have become victims of the seemingly endless violence. Medical degrees are obtained there after six years of study. Ugg Classic Cardy More than 500 students are enrolled in the university, according to its Web site, which said the school "strives to establish an open system of innovation and critical thinking similar to that in developed countries." Governments and organizations around the world condemned the attack, including a joint statement issued by the U.S., European Union, U.N., African Union and the Arab League. U.N. Secretary-General Ban Ki-moon said in a statement the bombing marred "what should have been an event filled with hope for Somalia." Air Jordan 12 Somalia has been ravaged by violence since warlords overthrew dictator Mohamed Siad Barre in 1991, then turned on each other. A moderate Islamist was elected president in January amid hopes he could unite the country's feuding factions, but the violence has continued. Suicide bombings, unheard of in Somalia before 2007, have become increasingly frequent and the lawlessness has raised concerns that al-Qaida is trying to gain a foothold in the Horn of Africa. The anarchy has also allowed piracy to flourish off the country's coast. The three ministers killed in the blast were Qamar Aden Ali, the health minister and a British citizen; Ibrahim Hassan Adow, the minister for higher education and an American citizen, and Ahmed Abdullahi Wayel, the minister for education.
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Nov. 29, 2009 - Britain Presses Pakistan and Afghanistan on Militants |
| LONDON ¡ª Highlighting themes likely to be taken up by President Obama in his military policy speech on Tuesday, Prime Minister Gordon Brown of Britain has demanded that Afghanistan and Pakistan match plans for increased allied troop levels in Afghanistan by taking tough actions of their own, including, in Pakistan, a stepped-up effort to capture Osama bin Laden. Jordan shoes 1 In two hard-edged statements over the weekend, Mr. Brown signaled a renewed sense of impatience in the approach that Britain and the United States plan to take toward the governments in Kabul and Islamabad as the allies step up their commitment to the war against the Taliban and Al Qaeda. In recent days, American officials have been briefing allied leaders in Europe, including Mr. Brown, on what President Obama plans to say at West Point on Tuesday. Mr. Brown has said he will move this week to announce fresh British deployments, confirming a tentative announcement last month of Britain¡¯s readiness to increase its force by 500 troops, beyond the 9,000 already deployed. ugg boot On the fate of Mr. bin Laden and his deputy, Ayman al-Zawahri, Mr. Brown, speaking Sunday, offered a sharp jolt to Pakistan. Western intelligence officials concluded long ago that the Qaeda leaders had taken sanctuary in the largely lawless tribal areas of Pakistan abutting Afghanistan, most likely in North or South Waziristan, barely 200 miles from Islamabad. ¡°The Pakistan government has started to take on the Taliban and Al Qaeda in South Waziristan,¡± Mr. Brown said, referring to a Pakistani military offensive that has been under way in recent weeks. ¡°But we have to ask ourselves why, eight years after Sept. 11, nobody has been able to spot or detain or get close to Osama bin Laden, nobody has been able to get close to Zawahri, the No. 2 in Al Qaeda.¡± Wholesale jersey Mr. Brown left unstated what has been a common assumption among Western governments dealing with Pakistan on the issue of Islamic extremism: that powerful elements of the government in Islamabad, including its military intelligence agency, Inter-Services Intelligence, have been following a two-track policy, accepting billions of dollars in Western aid on the pledge of fighting the Taliban and Al Qaeda while covertly assisting them, or at least avoiding confronting them. But the British leader said he would be making Pakistan¡¯s willingness to make an unqualified commitment to the war with the extremists a test of future support. In the next few days, he said, he will be talking with Pakistan¡¯s leaders ¡°and saying, if we are putting a strategy into place for building up the Afghan armed forces so that they can control things themselves, then Pakistan has got to be able to show that it can take on Al Qaeda, which is a threat to the Pakistan government and the Pakistan people as well as the rest of the world.¡± ugg new style Mr. Brown made his remarks in Trinidad, where he was attending the annual meeting of Commonwealth government leaders. He used the occasion to lay the groundwork for an international conference on Afghanistan in London that Britain and the United States, along with other parties to the war, have agreed to hold on Jan. 28, with the objective of laying down a charter for the war¡¯s future conduct and, especially, for exacting commitments from the government of President Hamid Karzai. On Afghanistan, Mr. Brown said Saturday that Mr. Karzai, whose leadership has been sharply criticized in London and Washington in recent weeks, will face demands ¡°to match the military push that is going to take place in Afghanistan with a political push forward.¡± Jordan shoes 5 The British leader spoke of benchmarks that would be set for the Afghan leader, including a three-month deadline to ¡°identify¡± additional Afghan troops to be sent for training in Helmand Province, the hottest zone of the war. In effect, Western leaders appear to be giving notice to Mr. Karzai that they will not accept further delays or half-measures on building the Afghan Army and the police to the point where Afghans can assume primary responsibility for fighting the war. Mr. Brown said an additional requirement would be a nine-month deadline for Mr. Karzai to appoint 400 provincial and district governors, fulfilling his promise to rid provincial and local administrations of officials who are corrupt, involved in drug-dealing or engaged in covert support of the Taliban.
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Nov. 24, 2009 - Wall St. Finds Profits by Reducing Mortgages |
| As millions of Americans struggle to hold on to their homes, Wall Street has found a way to make money from the mortgage mess. nike air jordan 3.5 Investment funds are buying billions of dollars¡¯ worth of home loans, discounted from the loans¡¯ original value. Then, in what might seem an act of charity, the funds are helping homeowners by reducing the size of the loans. But as part of these deals, the mortgages are being refinanced through lenders that work with government agencies like the Federal Housing Administration. This enables the funds to pocket sizable profits by reselling new, government-insured loans to other federal agencies, which then bundle the mortgages into securities for sale to investors. Ugg Ultra Short Boots While homeowners save money, the arrangement shifts nearly all the risk for the loans to the federal government ¡ª and, ultimately, taxpayers ¡ª at a time when Americans are falling behind on their mortgage payments in record numbers. For instance, a fund might offer to pay $40 million for a $100 million block of mortgages from a bank in distress. Then the fund could arrange to have some of those loans refinanced into mortgages backed by an agency like the F.H.A. and then sold to an agency like Ginnie Mae. The trick is to persuade the homeowners to refinance those mortgages, by offering to reduce the amounts the homeowners owe. The profit comes when the refinancings reach more than the $40 million that the fund paid for the block of loans. The strategy has created an unusual alliance between Wall Street funds that specialize in troubled investments ¡ª the industry calls them ¡°vulture¡± funds ¡ª and American homeowners. Ugg Classic Tall But the transactions also add to the potential burden on government agencies, particularly the F.H.A., which has lately taken on an outsize role in the housing market and, some fear, may eventually need to be bailed out at taxpayer expense. These new mortgage investors thrive in the shadows. Typically, the funds employ intermediaries to contact homeowners and arrange for mortgages to be refinanced. Homeowners often have no idea who their Wall Street benefactors are. Federal housing officials, too, are in the dark. Policymakers have encouraged investors and banks to put more consumers into government-backed loans. The total value of these transactions from hedge funds is small compared with the overall housing market. Egypt jersey Housing experts warn that the financial players involved ¡ª the investment funds, their intermediaries and certain F.H.A. approved lenders ¡ª have a financial incentive to put as many loans as possible into the government¡¯s hands. ¡°From the borrower¡¯s point of view, landing in a hedge fund or private equity fund that¡¯s willing to write down principal is a gift,¡± said Howard Glaser, a financial industry consultant and former official at the Department of Housing and Urban Development. He went on: ¡°From the systemic point of view, there is something disturbing about investors that had substantial short-term profit in backing toxic loans now swooping down to make another profit on cleaning up that mess.¡± Steven and Marisela Alva say they do not know who helped them with their mortgage. All they know is that they feel blessed. El Salvador jersey Last December, the couple got a letter saying that a firm had purchased the mortgage on their home in Pico Rivera, Calif., from Chase Home Finance for less than its original value. ¡°We want to share this discount with you,¡± the letter said. ¡°I couldn¡¯t believe it,¡± said Mr. Alva, a 62-year-old janitor and father of three. ¡°I kept thinking to myself, ¡®Something is wrong, something is wrong. This sounds too good.¡¯ ¡± But it was true. The balance on the Alvas¡¯ mortgage was ultimately reduced to $314,000 from $440,000. The firm behind the reduction remains a mystery. The Alvas¡¯ new loan, backed by the F.H.A., was made by Primary Residential Mortgage, a lender based in Utah. But the letter came from a company called MCM Capital Partners. jordan 6 ring In the letter, MCM said the couple¡¯s loan was owned by something called MCMCap Homeowners¡¯ Advantage Trust III. But MCM¡¯s co-founders said in an interview that MCM does not own any mortgages. They would not reveal the investor that owned the Alvas¡¯ loan because they had agreed to keep that client¡¯s identity confidential. Michael Niccolini, an MCM founder, said, ¡°We are changing people¡¯s lives.¡± In Washington, mortgage funds are lobbying for policies that favor their investments, particularly mortgages held in securitized bundles. They want more mortgage balances to be lowered, which might help mortgage bonds perform better. Big banks generally oppose such reductions, which lock in banks¡¯ losses on the loans. Ultra tall Ugg Boots In April, about a dozen investment firms formed a group called the Mortgage Investors Coalition to press their case. One investor who is speaking out is Wilbur L. Ross, who runs a fund that buys mortgages and owns a large mortgage servicing company. Mr. Ross said modifications that simply lower interest rates or lengthen the duration of a loan, as is typical in the government modification program, do not work well. ¡°They make a payment or two, but then one night the husband and wife will sit down at the table and say, ¡®Do we really want to make 140 monthly payments into a rat hole?¡¯ ¡± Mr. Ross said. Ugg Fluff Flip Flop The Fortress Investment Group, a hedge fund in New York, is one of the firms at the forefront of picking through mortgages. Fortress created a $3 billion credit fund in 2008 partly to buy loans from banks like Citigroup, which were under pressure to purge loans to raise cash. ¡°They¡¯re going ahead and they are refinancing them and getting their money out right away,¡± said Roger Smith, an analyst at Fox-Pitt Kelton. ¡°What Fortress is doing is actually good for the borrower.¡± Congress, however, may not be happy that hedge funds are making money this way, Mr. Smith said. Fortress, which declined to comment, typically buys batches of loans and works with other companies to evaluate which ones might qualify for F.H.A., Fannie Mae or Freddie Mac refinancing. England jersey Sometimes Fortress works with Nationstar, a mortgage servicer and originator that it owns. Other times, Fortress uses an outside partner like Meridias Capital, a lender in Henderson, Nev., that once originated Alt-A loans, which are just above subprime. After the mortgage market imploded, Meridias began dissecting portfolios of troubled loans for investment funds. Because firms like Fortress purchase blocks of mortgages at distressed prices, they are able to reduce the principal amount of the loans. Nick Florez, president of Meridias, calls such transactions an ¡°incentive refinance.¡± He said he would not agree to take a loan unless he could help the homeowner. He said he was able to reduce the loan amount by 11 percent on average. ¡°I¡¯m giving money away,¡± said Mr. Florez, who is a 35-year-old Las Vegas native. ¡°It¡¯s really a feel-good business.¡± air jordan 10.5 It is too early to know how the new loans will work. David H. Stevens, the new commissioner of the F.H.A., said he was monitoring F.H.A. lenders but did not have thorough information about which ones work with distressed investors. So far he has not seen a problem from loans coming from hedge funds. ¡°They¡¯re helping to protect people in their homes and they¡¯re refinancing people from a distressed situation,¡± he said. But he acknowledged that funds have an incentive to aggressively push homeowners into federally guaranteed loans, since the investors get their money back as soon as they complete the refinancing. Ugg Ultra tall Boots Seth Wheeler, a senior adviser in the Treasury Department who specializes in housing policy, declined to say whether the investment firms that are lowering principal for homeowners are altruistic or not. ¡°Investors are doing it where it both benefits the investor and the borrower,¡± he said. Part of the risk may be determined by how the funds compensate the F.H.A. lenders and whether the lenders are beholden to the funds for business. David Zitting, the chief executive of Primary Residential Mortgage, the company that refinanced the Alva family¡¯s loan, said his company did not receive fees from the hedge funds. ¡°They have all sorts of motivations that, frankly, we don¡¯t understand,¡± he said. ¡°We don¡¯t do anything special for them because that¡¯s not fair lending.¡± Nike Air Jordan 2009 The Alvas had to dip into their savings to qualify for their new federally insured loan, since the biggest F.H.A. mortgage they could get was for $285,000, they said. They paid off $21,000 in credit-card and car loans, and put up an additional $29,000 for their new mortgage, depleting their already meager savings. Brian Chappelle, a mortgage consultant, said loans to people like the Alvas, with modest incomes and scant savings, could turn out to be risky. ¡°It does raise risk concerns for F.H.A.,¡± he said. The Alvas are grateful for the help. Their home is, Marisela said, a dream come true. ¡°I¡¯m very happy,¡± she said. ¡°We never thought this was possible.¡±
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Nov. 22, 2009 - Fed's Bullard: Markets Still View Dollar As Main Reserve Currency |
| -Federal Reserve Bank of St. Louis President James Bullard said Sunday what happened with the dollar during the financial crisis should allay fears about the currency's value. Air Jordan 1 For all the fears about the dollar, "it is interesting the world came to the dollar" during the crisis, and that the currency rallied in the initial stages of the financial crisis. While the dollar has weakened of late, "at least right now the dollar is still viewed as the reserve currency" and "the place to go," and "we don't want to lose that," Bullard said. Ugg Classic Tall The official was speaking at an event in New York held by the Business Today International Conference. The official is not currently a voting member of the interest rate setting Federal Open Market Committee. In his presentation, Bullard noted growth had returned to the U.S., and he said household spending had stabilized. He described unemployment as "high" and said labor markets were lagging the recovery. The official said "the U.S. is in the early stages of recovery." shop by team jersey In his remarks, Bullard said the problem of financial institutions that are deemed too-big-to-fail is real, and must be dealt with, because these institutions exact a cost on the financial system. Bullard defended the Fed's record during financial crises of the last generation, and he added Fed official did warn of the imbalances that led to the financial crisis of the last couple of years. Ugg Amelie Suede Sandals As financial reform efforts move forward, Bullard said he believes the Fed should remain a regulator of financial institutions. He also said this regulator role enhances monetary policy because it gives the central bank insight into the functioning of the financial system. Air Jordan 2 Bullard also argued against moves that would compromise the Fed's independence, saying that would be bad for inflation and would complicate recovery efforts. -By Michael S. Derby; Dow Jones Newswires, 212-416-2214
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Nov. 18, 2009 - Liberty sets DirecTV loose for sale, merger |
| NEW YORK (Reuters) - The naming of a new CEO at DirecTV Group Inc (DTV.O) could signal it's time for a takeover bid for the satellite TV company. Some observers think the appointment of PepsiCo Inc veteran Michael White, who has no experience in pay TV, is a sign DirecTV parent Liberty Media Corp (LINTA.O) just wants a "baby-sitter" before a sale in the next couple of years. Air Jordan 18 Representatives from Verizon Communications Inc (VZ.N) and AT&T Inc (T.N) have already each approached Liberty, controlled by John Malone, in the last year to express interest, according to people with knowledge of the talks. The discussions fizzled out on regulatory concerns and no talks are now taking place, they said on condition of anonymity. Liberty, AT&T, Verizon and DirecTV all declined to comment. "Either telco would see DirecTV as a viable acquisition candidate," said Standard & Poor's equity analyst Tuna Amobi, adding that all pay-TV players are seeking scale. "My sense right now is that John Malone will be open to selling at the right price." BALLACK JERSEY Liberty Media shareholders are set to vote on Thursday to approve a plan to split DirecTV from Liberty Entertainment (LMDIA.O) -- a move that Wall Street believes could pave the way for a telephone company to put in a bid for DirecTV, leading to a similar bid for smaller rival Dish Network Corp (DISH.O). Both AT&T and Verizon are already marketing partners with DirecTV, offering a bundle of phone, Internet and TV services. But one advantage of owning a satellite TV company would be cost savings and more leverage in program negotiations with cable TV networks. Programing is by far the largest operating expense of running a pay-TV business. ugg boots DirecTV has some 18 million customers, while DISH has around 13.5 million. Verizon has spent billions of dollars building its FiOS video service, but only has 2.7 million customers, while AT&T's investment in Uverse has so far attracted 1.8 million customers. Any deal under discussion would likely see DirecTV spin off its Latin America business as both U.S. phone companies are focused on domestic markets, analysts said. REGULATIONS But regulatory issues will dictate if a bid for either DirecTV or Dish Network is formally put on the table in the near term, observers said. Denver Nuggets jerseys Talks of big mergers in media and telecommunications have generally been put on ice as companies wait to see how antitrust officials in Washington treat Comcast Corp's (CMCSA.O) bid for controlling stake in NBC Universal. NBC Universal's parents General Electric Co (GE.N) and Vivendi SA (VIV.PA) are still negotiating the terms of the NBC Universal deal, but agreement is expected soon. "The Comcast deal could easily make a bid for DirecTV or Dish less likely," said Craig Moffett, a cable and telecoms analyst at Bernstein Research. "The regulatory climate in Washington is going to be even more anti-media consolidation once the Comcast-NBC deal is on the docket." One question is whether regulators would allow a phone company to offer satellite TV services in markets they already have their own video offering. "The big block might be whether the regulators let it through. It's a big deal," Chris Watts, an analyst at Atlantic Equities, said of a DirecTV takeover. "It may be a pretty bitter pill for regulators to swallow at this stage." Air Jordan 19 MINIMIZING TAXES For Liberty, the key to a transaction with Malone is minimizing his tax bill, analysts say. The split shareholders are set to approve on Thursday will see DirecTV effectively buy Liberty Entertainment to become independent, so Liberty Media does not get taxed on a future sale of the satellite company if it is a stock-for-stock deal. Hull City AFC JERSEY Liberty became a controlling holder of DirecTV last year when it swapped a minority stake in Rupert Murdoch's News Corp (NWSA.O) for its stake in the satellite TV operator. Liberty Media Chief Executive Greg Maffei has said divesting DirecTV gives it more strategic options. Any deal will have to wait at least a few months as White does not take the helm at DirecTV until January 1. He will succeed Chase Carey, who returned to News Corp earlier this year.
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Nov. 15, 2009 - Howell students to get H1N1 vaccine |
| The township school district will hosting three Monmouth County Health Department H1N1 vaccination clinics for its students beginning Wednesday. The vaccine, in its nasal mist distribution, will be given to healthy children while students with underlying health conditions will receive the vaccine in its injectable form, school officials said. ed hardy t-shirts Children younger than 10 will require a second dose of the vaccine at a later date, said Patricia Callander, assistant superintendent of pupil services. Vaccines will be given 4 to 7 p.m. Wednesday at Middle School North to eligible students enrolled there and Aldrich, Ardena and Land O' Pines elementary schools. The second clinic will be held from 10 a.m. to 2 p.m. Saturday at Middle School South for its students and those at Taunton, Ramtown and Greenville elementary schools. Ugg Sheepskin Boots And from 4 to 7 p.m. Nov. 24, the third clinic will be at Memorial Middle School for those students as well as Newbury, Adelphia and Griebling pupils. "We anticipate that there will be a large number of participants at our scheduled clinics, and we will work with the Department of Health to ensure that vaccinations will be offered equitably at all three sites," Callander said in written statement. Monmouth County Board of Health Director Michael Meddis also warned that while the area is experiencing an elevated number of influenzalike cases, H1N1 is better diagnosed by state health or private laboratories rather than rapid tests like the ones conducted in many doctors' offices. air yeezy shoes "There is nothing wrong with getting those tests," Meddis said. "But what they show is a positive for influenza type A, but that could mean a (H1N1) false positive 70 percent of the time." Black UGG The H1N1 virus is one of many subtypes of influenza A. ON THE WEB: Visit www.howell.k12.nj.us for more information about the clinics or to download the consent form necessary for receiving the vaccine.
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Nov. 12, 2009 - Obama orders base killings probe |
| US President Barack Obama has ordered a review of the way intelligence agencies handled information over an army major suspected of killing 13 people. The measure comes after US intelligence authorities revealed they knew Maj Nidal Malik Hasan had been in contact with a cleric sympathetic to al-Qaeda. jordan shoes Thirteen people died in the attack at the Fort Hood military base in Texas. Maj Hasan, 39, was shot by police and remains in hospital. He has been charged with 13 counts of murder. He has not spoken to investigators. Maj Hasan was said to be unhappy about a possible deployment to Afghanistan. Nightfall Ugg Boots The shootings took place on 5 November at Fort Hood's crowded Soldiers Readiness Processing Center, where troops get medical check-ups before deploying abroad. At least 29 people were hurt in the attack. Maj Hasan has been under armed guard in a hospital since being wounded in the shooting. He is to be prosecuted in a military court. Nike Jordan If convicted, he could face the death penalty. No-one has been executed under the US military justice system for almost 50 years, says the BBC's Matthew Price. Backlash fears Former military colleagues of Maj Hasan had voiced concern about his performance and attitude for a number of years, according to media reports. jordan shoes An FBI-led task force monitoring the e-mail of Yemen-based cleric Anwar al-Awlaki said he had communicated with Maj Hasan - a US-born Muslim and army psychiatrist - on 10 to 20 occasions. However, it was decided that further investigation was not needed, as the content of the messages did not advocate or threaten violence. "I directed an immediate inventory be conducted of all intelligence in US government files that existed prior to 6 November 2009, relevant to the tragic shooting at Fort Hood, Texas, especially anything having to do with the alleged shooter, Major Nidal Malik Hasan, US Army," Mr Obama said in a statement. ed hardy "Additionally, I directed an immediate review be initiated to determine how any such intelligence was handled, shared, and acted upon within individual departments and agencies and what intelligence was shared with others. "This inventory and review shall be conducted in a manner that does not interfere with the ongoing criminal investigations of the Fort Hood shooting." Jordan sneaker Amid fears of a possible anti-Muslim backlash after the attack, President Obama has stressed the multinational diversity in the US armed forces. "They are Americans of every race, faith, and station. They are Christians and Muslims, Jews and Hindus and non-believers. "They are descendants of immigrants and immigrants themselves. They reflect the diversity that makes this America," he said in the aftermath of the shooting.
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