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White House: Fed Chief Race Down To Two

“The White House whittled down its candidates to succeed Federal Reserve Chairman Ben Bernanke to two names: Current Fed Vice-Chair Janet Yellen and long-time Washington, D.C., economic guru Larry Summers. Both candidates bring strong resumes, decades of experience with U.S. monetary policy, and about an equal amount of baggage. Yellen’s favorables include serving the past three years as Bernanke’s second in command, a factor that would presumably soothe potential market fears of a significant change in Fed policy. Yellen is known as a strong supporter of the easy money policies initiated by the Fed in the wake of the financial crisis.” Continue reading →

TARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers

“Nearly one-third of the homeowners who got help through the government’s main foreclosure prevention program are defaulting again on their mortgages, according to a government watchdog’s report. The Home Affordable Modification Program (HAMP) has worked on 1.2 million mortgage modifications since it started four years ago. Of those, more than 306,000 borrowers have defaulted again on their loans, and another 88,000 are at risk as well. The Special Inspector for the Troubled Asset Relief Program (SIGTARP), which conducted the review, said homeowners are also more likely to default again on the modified loans the longer they stay in the program.” Continue reading →

TARP Audit: Housing Recipients Re-Defaulting in Alarming Numbers

Recap – What the media intentionally covered up or sat on in the Zimmerman trial

You can read along here, but Bill Whittle covers it pretty well in ten minutes. Related articles The best analysis of the Trayvon Martin and George Zimmerman case (globalelite.tv) ‘The Lynching’: Bill Whittle lays out Zimmerman facts media kept hidden (bizpacreview.com) Bill Whittle: The Lynching of George Zimmerman (fellowshipofminds.wordpress.com)

Los Angeles sheriff gives comedian award for racially-motivated routine

“The sheriff for Los Angeles County is facing criticism for presenting an award to a comedian who told a series of racially-motivated jokes at a luncheon held Wednesday, leaving some in the crowd feeling very uncomfortable. About 600-700 people were present for Wednesday’s lunch, put on by the Peace Officers Association of Los Angeles County, according to The LA Times. Officers in full uniform were roaring with laughter during the lunch as comedian Edwin San Juan cracked racially-motivated jokes spiked with sexually explicit language and ethnic slurs targeting African-Americans and people of Asian descent.” Continue reading →

12-year-old French girl caught writing bad checks for candy

“A 12-year-old girl in the southern French city of Bordeaux has been caught by police after using stolen cheques to buy 2,600 euros ($3,440) worth of candies and pastries. Local police said Thursday that the girl had stolen a chequebook in March from a neighbour and used it over several months to buy the sweets from local bakeries. Her criminal sweet tooth was uncovered when a local bakery tried to deposit 23 of the cheques and they bounced. She was quickly apprehended, questioned by police and released after her parents agreed to pay the bakery back.” Continue reading →

Prosecutors charge 6 in $300M credit card hacking scheme

“Russian Dmitriy Smilianets, 29, is accused of selling the stolen data and distributing the profits. Prosecutors said he charged $10 for U.S. cards, $15 for ones from Canada and $50 for European cards, which are more expensive because they have computer chips that make them more secure. The five concealed their efforts by disabling anti-virus software on victims computers and storing data on multiple hacking platforms, prosecutors said. They sold the payment card numbers to resellers, who then sold them on online forums or to ‘cashers’ who encode the numbers onto blank plastic cards.” Continue reading →

Paris suburbs erupt in violent protests over veil ban

“The violence kicked off Friday evening, when some 400 people protested near the Trappes police station, southwest of Paris. They set fire to bins, destroyed bus stops and hurled stones at police who responded with tear gas. A 14-year-old boy suffered a serious eye injury and several police officers were also hurt. The veil ban, introduced in 2011, has outraged many in France’s Muslim community, which at an estimated four million is western Europe’s largest Muslim minority. Officials say more than 700 women have been stopped since the ban was introduced. The growing visibility of French Muslims has also sparked a backlash from nationalists.” Continue reading →