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Dick Bove: US Assault on JPMorgan Is ‘Coordinated from Above’

"The various government legal moves against JPMorgan Chase represent a coordinated assault on the nation's biggest bank, says star bank analyst Dick Bove at Rafferty Capital Markets. Given that eight government agencies are now suing JPMorgan over various issues, apparently including four to six lawsuits from the Justice Department: 'What is it about this company which makes it unique relative to all other American companies, that all of these agencies come down on this company at the same point in time?' Bove said. 'This has to be coordinated by someone, and it has to be coordinated by someone above each one of the individual agencies.'" Continue reading →

Continue ReadingDick Bove: US Assault on JPMorgan Is ‘Coordinated from Above’

Obama Presses for Action on Bank Rules

"President Obama urged the nation’s top financial regulators on Monday to move faster on new rules for Wall Street, telling them in a private White House meeting that they must work to prevent a repeat of the 2008 financial crisis. Administration officials and some lawmakers have expressed frustration that critical parts of Mr. Obama’s overhaul of the financial system, which was voted into law three years ago and is known as the Dodd-Frank act, remain unenforced as an alphabet soup of federal agencies wrangle over how to adopt it." Continue reading →

Continue ReadingObama Presses for Action on Bank Rules

Health Insurance Costs: $16,351 a Year per Family

"This is what the typical premium costs for families whose health insurance is paid for by their employers. The main advantage is that this is not taxable income. For workers whose employers provide health insurance coverage, this is a huge tax loophole. Here is a chart on what it costs families. The costs have skyrocketed over the last decade. Health insurance is regulated heavily by state governments and the federal government. Costs are rising relentlessly. ObamaCare will make them rise even more. When the government comes to help you, beware. 'Keep your hand upon your wallet, and your back against the wall.'" Continue reading →

Continue ReadingHealth Insurance Costs: $16,351 a Year per Family

Los Angeles City College Trustees Ban the Word “Gun” From Course Catalog

"If a book has the word gun in it, the book is not subject to the ban, but no mention of it must appear in the catalog. Otherwise, it would give the wrong idea. Scott Svonkin, the Vice President of the Board of Trustees, introduced the ban. He explained his position. The school must not teach students how to use guns. The faculty must promote gun control. 'We should make sure that students don’t come to campus being afraid to run into somebody with a gun.' The ban includes non-operational guns. They scare students. When asked what a non-operational gun is, he said he had no idea. 'I’m not an expert in guns,' he explained." Continue reading →

Continue ReadingLos Angeles City College Trustees Ban the Word “Gun” From Course Catalog

Austrian brewer revives 300-year-old beer

"An Austrian brewery is offering beer lovers a trip back in time by reviving a 300-year-old recipe it found in the town archives. The family-owned Hofstetten brewery in the Upper Austrian town of Saint Martin recreated the 'Neuhauser Herrschafts Pier' from ingredients listed in an invoice for the local Neuhaus castle in 1720, when Austria was one of Europe’s big powers. Using small crops of emmer and malting barley grown from ancient seed varieties agricultural historians had preserved, owner Peter Krammer was able to reproduce the mix of barley, wheat and hops that marked the brew made three centuries ago." Continue reading →

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Finally…a beer that won’t give you a hangover

"Scientists have created a beer which could finally put an end to the dreaded hangover. The beer has been created by a team of researchers in Australia who say it prevents drinkers from becoming dehydrated. They have added electrolytes - an ingredient in sports drinks - which helps to keep them refreshed. However, inevitably, some may feel there is a downside to the new drink. In order to create it, they have had to reduce the alcohol content. The team also said that despite adding the electrolytes, it did not effect the taste of the drinks. Hangovers are caused by several factors but dehydration is known to be one of the biggest causes." Continue reading →

Continue ReadingFinally…a beer that won’t give you a hangover

What five beers account for most emergency room visits?

"The New York Times reported on a study at Johns Hopkins Hospital in Baltimore, analyzing how many patients in the emergency room had been drinking and what they had been drinking. Not surprising, the top five were Budweiser, Steel Reserve, Colt 45, Bud Ice and Bud Light." Continue reading →

Continue ReadingWhat five beers account for most emergency room visits?

UK: Fire chief told policeman to leave ‘drowning’ man in 3ft deep lake [2012]

"The father of a man who drowned in 3ft of water after emergency crews were ordered not to rescue him has hit out at health and safety rules that ‘hinder’ the 999 services. David Burgess, whose son Simon lay floating face down in a lake for more than half an hour while firemen, police and paramedics watched, said it was impossible to ‘eliminate all risk’ for the emergency services. A fire crew claimed safety rules stopped them from going more than ‘ankle-deep’ into the water [..] And a policeman and a paramedic who both volunteered to jump in were given orders not to do so by a fire station watch manager." Continue reading →

Continue ReadingUK: Fire chief told policeman to leave ‘drowning’ man in 3ft deep lake [2012]

Spanish banks’ bad loan ratio rises to record in June

"The overall bad debt ratio for Spanish banks was up from 11.2 percent in May and has been steadily increasing since a drop-off at the end of last year when rescued lenders transferred toxic property assets to Spain's so-called bad bank. Spanish lenders' earnings were gutted last year by steep government-enforced provisions on properties and loans to developers, in the wake of a 2008 real estate crash. Those unable to cope were bailed-out with European funds, and most of their real estate loans were transferred to a government-backed bad bank." Continue reading →

Continue ReadingSpanish banks’ bad loan ratio rises to record in June

Germany Fights Population Drop

"There is perhaps nowhere better than the German countryside to see the dawning impact of Europe’s plunge in fertility rates over the decades, a problem that has frightening implications for the economy and the psyche of the Continent. In some areas, there are now abundant overgrown yards, boarded-up windows and concerns about sewage systems too empty to work properly. The work force is rapidly graying, and assembly lines are being redesigned to minimize bending and lifting. Raising fertility levels in Germany has not proved easy, even while spending $265 billion a year on family subsidies." Continue reading →

Continue ReadingGermany Fights Population Drop