for life and liberty

Why “Tapering” Will Not Go Smoothly — and What That Means for Bonds and Stocks

"If you buy the party line that Wall Street and the Federal Reserve is pushing, the process of 'tapering' back on Quantitative Easing (QE) will be relatively painless. All the Fed has to do is gradually, slowly, predictably, and gently ease back on its bond purchases and, they say, it will have minimal market impact. My take? Fuhgeddaboudit … it will be anything but smooth. And this week, I’ll use the Fed’s own comments — and a shocking Fed chart — to show you why." Continue reading →

Continue ReadingWhy “Tapering” Will Not Go Smoothly — and What That Means for Bonds and Stocks

‘Eminent Domain for the People’ Leaves Wall Street Furious

"Richmond became the first California city last week to move forward on a plan that has been floated by other California municipalities to ask big bank lenders to sell underwater mortgage loans at a discount to the city (if the owner consents), and seize those homes through eminent domain if the banks refuse. The city has committed to refinancing these homes for owners at their current value, not what is owed. City officials launched this process by sending letters in late July to 32 banks and other mortgage owners offering to buy 624 underwater mortgages at the price the homes are worth, not what the owners owe." Continue reading →

Continue Reading‘Eminent Domain for the People’ Leaves Wall Street Furious

Man who created own credit card sues bank for not sticking to terms

"Mr Argarkov's version of the contract contained a 0pc interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles. Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card. Earlier this week a Russian judge ruled in Mr Argakov's favour. Tinkoff had signed the contract and was legally bound to it. Mr Argakov was only ordered to pay an outstanding balance of 19,000 rubles (£371)." Continue reading →

Continue ReadingMan who created own credit card sues bank for not sticking to terms

HBO says Game of Thrones ‘piracy’ is better than an Emmy

"According to Time Warner CEO Alan Bewkes the 'piracy' buzz around Game of Thrones is a good thing, so good that it's better than an entertainment industry award. The firm was talking about its latest financial results when it was asked about the so-called 'piracy' problem. 'I have to admit it, I think you're right. The much discussed fantasy series is HBO's most popular TV show, and if you go to people who are watching it without subs, it's a tremendous word of mouth thing,' he said, according to the Game of Thrones website White Harbour. In April, HBO programming chief Michael Lombardo said that 'piracy' should be taken as a compliment." Continue reading →

Continue ReadingHBO says Game of Thrones ‘piracy’ is better than an Emmy

Scott Brown’s brother arrested with weapons arsenal after impersonating officer and commandeering boat

"Bruce W. Browne told officers responding to the call that he was the owner of the vehicle, and he admitted to wearing battle dress uniform (BDU) pants and carry a 9mm weapon. Inside of the vehicle, officers located three 9mm handguns, two sets of handcuffs, 12 fully-loaded magazines and over 200 rounds of ammunition. Browne also had law enforcement gear, including a tactical bullet-proof vest with the word 'POLICE' on the front and back and a metal TSA badge. Browne had IDs from when he worked for the TSA and Coast Guard, but the Connecticut State Police determined that he was no longer affiliated with those agencies." Continue reading →

Continue ReadingScott Brown’s brother arrested with weapons arsenal after impersonating officer and commandeering boat

Hunger-striking California inmate on 27 years in solitary

"The core demand is an end to indefinite solitary confinement in Security Housing Units, known as SHUs. Some inmates have been in such cells for decades. Strike leaders – an unusual alliance of whites, African Americans and Latinos – say the conditions amount to torture and that the system for selecting those for segregation is callous and capricious. A condition of release into the general jail population is to 'debrief' – inform – against gang members. Authorities reject the criticism and say the strike is an attempt by gang leaders to regain the ability to terrorise fellow prisoners, staff and communities throughout California." Continue reading →

Continue ReadingHunger-striking California inmate on 27 years in solitary

Common Core Exams: New York Schools Get an F

"No one knows what to do. They are in panic mode. Watch the videos. Parents are outraged. School officials are in hunker-down mode. The top educational official in the country is the Secretary of Education. She says this: no problem! Parents should not be alarmed, she says. The test results will 'give a clear picture of where our students are on the trajectory toward college and career readiness.' Yes, they do. The kids are not ready. Then, she added, don't blame tax-funded education. No, no, no. 'The lower proficiency rates that we will see . . . do not reflect that teachers are teaching less or students are learning less.'" Continue reading →

Continue ReadingCommon Core Exams: New York Schools Get an F

Connections Between Michael Hastings, Edward Snowden and Barrett Brown

"When the FBI raided the Dallas home of journalist Barrett Brown in March 2012, the travails of the Vanity Fair and Guardian contributor didn’t get much ink — that is, until Michael Hastings published an exclusive on the Brown raid on Buzzfeed. The story included a copy of the search warrant that revealed why the government was so interested in Brown: Along with colleagues at the research wiki he started, ProjectPM (PPM), Brown was looking into a legion of shadowy cybersecurity firms whose work for the government raised all sorts of questions about privacy and the rule of law." Continue reading →

Continue ReadingConnections Between Michael Hastings, Edward Snowden and Barrett Brown