Hospitals exploiting Medicare patients .......again
 

Charlie Fuqua says Death Penalty an Option for Rebellious Children

Charlie Fuqua, Republican candidate for the Arkansas House of Representatives, supports the death penalty for rebellious children.

http://www.patheos.com/blogs/nolongerquivering/2012/10/charlie-fuqua-says-death-penalty-an-option-for-rebellious-children/

:seeingstars:

Kind of scares me when I remember the names of candidates that arent even from my neck of the country.

On the previous page I posted an article containing Fuqua's thoughts:



"Charles Fuqua of Batesville, Arkansas, is currently seeking a House of Representatives seat. His e-book "God's Law: The Only Political Solution" came out in April on Amazon.

"I see no solution to the Muslim problem short of expelling all followers of the religion from the United States," he writes in his book, according to The Arkansas Times newspaper.

Fuqua, an attorney, served as a state representative from 1995 to 1998 before losing a state senate race."

"The motive of the algorithm is still unclear" (John Melloy, CNBC correspondent).
 

I guess shares/stocks are not only traded during drunker benders: Gasoline/Oil trading while in an alcoholic blackout, as reported a few days ago in England; but it appears that shares/stocks (or any commodity) can be traded by computer programming issues gone awry (algorithm's).


(See news article here, LINK)

Anoka, Minnesota's 'Halloween Capital Of The World,' Turns Away LGBT Youth Group


http://www.huffingtonpost.com/2012/1...ref=gay-voices

Pakistani teen blogger / first Pakistani recipient of Nobel Peace Prize Malala Yousufzai was shot in the head and the neck by the Taliban and is in critical condition.

It's not breaking news, but I couldn't find the Michael Vick thread and I'm not sure how I feel about this...


http://www.huffingtonpost.com/2012/1..._hp_ref=sports

As a child of the 60's, because JFK was President and said we would put a man on the moon in 10 years......I am a space/NASA junkie.....I have hours of video tape (yes vcr tape still have it) of the first Mars landing and the journey of Sojourner on the surface... ...

so the Endeavor journey to it's resting place in LA has had my attention. She flew overy the Bay Area........

there is a bunch of video of her trip through LA......

http://www.cnn.com/2012/10/13/us/shu...html?hpt=hp_t1

just click on the video links.....hell you can probably just go to UTube and search Endeavor and LA and find more.........I really like the pic of the wing and a tree........

ACLU sues Morgan Stanley for bias in mortgage business
 

NEW YORK (Reuters) - The American Civil Liberties Union sued Morgan Stanley on Monday, alleging racial discrimination over packaging subprime mortgage loans into securities.

The suit is the first to directly accuse an investment bank, rather than a lender, over loans that violate federal civil rights laws, the group said at a press conference.

Morgan Stanley encouraged a unit of now-bankrupt New Century Financial Corp to target black borrowers disproportionately with loans that had a strong possibility of foreclosure and unjustifiably high costs, the suit alleges. The investment bank received significant fees from packaging and selling these loans as securities to institutional investors, while the borrowers faced high risks of default, the ACLU said.

"It is literally the first case of Main Street holding Wall Street accountable" for the financial crisis that led millions of Americans to lose their homes and that devastated the U.S. economy, ACLU Executive Director Anthony Romero said at a news conference.

Morgan Stanley rejected the accusations. "We believe these allegations are completely without merit and plan to defend ourselves vigorously," spokeswoman Mary Claire Delaney said in an email.

The complaint was filed in U.S. District Court in Manhattan on behalf of five Detroit residents. It alleges that Morgan Stanley went beyond the traditional role of an investment bank by helping to fund loans made by New Century, setting loan volume goals and establishing terms of the loans.

The ACLU asked the court to certify the case as a class action. It said as many as 6,000 black homeowners in the Detroit area may have suffered similar discrimination as a result of being offered loans that many could not afford.

The alleged practice is a twist on claims that banks engaged in "red-lining," or refusing to provide loans and other services in low-income areas.

"It's reverse red-lining. It violates the Fair Housing Act," said Elizabeth Cabraser, a co-counsel for the plaintiffs. "These loans were mass produced and they were built to order, not to serve homeowners."

Discriminatory practices connected to the securitization process were endemic during the last decade throughout the financial services industry and across the nation, the ACLU said.

Critics of securitization, in which banks package loans into securities for sale to sophisticated investors, say it encourages recklessness in bank credit policies because banks do not end up holding loans they originate.

Advocates say that by removing loans from their balance sheets, banks can stimulate the economy by making additional loans.

Trillions of dollars of mortgage, credit card, automobile and other consumer loans have been securitized and sold to investors. Many of the home loans bought by the banks are insured by agencies such as the Federal Home Loan Mortgage Corp., or Freddie Mac, and the Federal National Mortgage Association, or Fannie Mae.

Some lawyers and economists who work with the securities industry described the lawsuit as "novel" in seeking damages for the borrowers since investment banks are several steps removed from loan origination. Morgan Stanley was chosen because it is among the few remaining "deep pockets" in the financial industry now that so many direct subprime lenders have been shut down, they said.

Anticipating an argument that the statute of limitations has passed for actions leading up to the financial crisis, the suit says Morgan Stanley's concealment of its role in the loan process and its deviation from "true underwriting standards" for the loans it purchased invalidate any legal deadlines.

MANY RECENT LAWSUITS

The ACLU lawsuit follows a spate of new litigation against Wall Street by U.S. federal and state authorities over banks' roles in triggering the financial crisis that began more than four years ago.

JPMorgan was sued last week by New York State Attorney General Eric Schneiderman for alleged subprime mortgage abuses at an investment bank that it purchased during the financial crisis. The U.S. attorney in Manhattan filed fraud charges against Wells Fargo Corp two weeks ago for a "reckless pattern" of making questionable home loans that allegedly cost the government hundreds of millions of dollars in insurance settlements.

Massachusetts earlier sued Morgan Stanley for securitizing home loans, alleging violations of a state consumer protection law. The ACLU said that case did not address the issue nationwide nor link the alleged abusive practices to discriminatory policy.

Thomas Deutsch, executive director of the American Securitization Forum, a trade group for investment banks, declined to comment on the lawsuit.

Plaintiffs in the lawsuit include five borrowers and Michigan Legal Services.

The case is Beverly Adkins et al v Morgan Stanley, U.S. District Court for the Southern District of New York, No. 12-7667.

http://news.yahoo.com/civil-libertie...5--sector.html

About time someone did this.

Malala was flown to England for treatment.

http://www.nytimes.com/2012/10/16/wo...victim.html?hp

re: ACLU (Morgan Stanley case)
 

I hope the ACLU goes after them like a rabid animal on steroids and sets a Stare Decisis (a legal precedent) that not even the Supreme Court of the United States can ignore or set aside.

I get so upset over the criminal mindset of the banking and financial industry, that will do anything at the expense to people who are marginalized by institutions, who will steal for profit! That alone, in my opinion, is a core issue of the national demise over our current (present) and future financial woes; not to mention corporate law and how these sets of law are loosely designed at holding these kinds of powers accountable and leaving all sectors of the public without a way to seek full remedy under constitutional provisions, designed to meet redress in specific ways, so that red-lining any population is prosecutable to the high heavens and with formidable punishment, should this kind of crime transpire on any watch in America.

And, on top of that, a presidential contender (Romney) is probably one of the biggest abusers and users of profit gained under loosely written law pertaining to both market industrial giants (monsters): Corporate institutional thievery masked as law-abiding ways for making a profit.

McGovern moved to hospice care
 

Very sad. I was too young to vote for him, but I campaigned like crazy.

http://www.politico.com/news/stories/1012/82435.html

Not exactly breaking news but something to be aware of
 

Kind of scary...

http://www.dailyfinance.com/2012/10/...catch-on-fire/


Banana Boat Recalls Sunscreen After Some Users Catch on Fire

By The Associated Press


Posted 2:45PM 10/19/12
Posted under: Company News, Consumer Ally


1319996680


By MATTHEW PERRONE

WASHINGTON (AP) - The maker of Banana Boat sunscreen is recalling some of its spray-on products after reports that a handful of people have caught on fire after applying the lotion and coming in contact with an open flame.

Energizer Holdings (ENR) said Fridaythat it is pulling 23 varieties of UltraMist sunscreen off store shelves due to the risk of the lotion igniting when exposed to fire.

The recall includes aerosol products like UltraMist Sport, UltraMist Ultra Defense and UltraMist Kids.

A company spokesman said there have been five reports of people suffering burns after using the sunscreen in the last year. Four burn cases were reported in the U.S. and one in Canada.

More than 20 million units have been sold since UltraMist launched in 2010, the spokesman said.

Energizer said in a statement that the problem appears to be caused by UltraMist's spray valve, which is over applying the product. As a result the lotion is taking longer to dry, which raises the flammability risk.

"If a consumer comes into contact with a flame or spark prior to complete drying of the product on the skin, there is a potential for the product to ignite," the company said.

UltraMist's label warns users: "Do not use in the presence of a flame or spark. Keep away from sources of ignition - no smoking."

But dermatologists say most people don't read such labels.

"So many people put this on outside, while they're on their way to activities, so I just don't think people are aware of that," said Dr. Michele Green, a dermatologist at New York's Lenox Hill Hospital.

Green said aerosol sunscreens have become popular in recent years because they're faster and easier to apply, but not necessarily more effective.

"I think the old-fashioned creams apply better and seem to protect you better - the sprays just don't seem to work as well," Green said.

The company said it has notified the Food and Drug Administration about the voluntary recall.





Consumers who purchased the products are being told not to use them. More information is available from the manufacturer at 1-800-SAFESUN.

Burn experts said Friday the problem appears to be extremely rare.

"We've found no evidence of this happening before the incidents that came to our attention," said Dan Dillard, executive director of the Burn Prevention Network. Dillard's group was contacted earlier in the year about two burns related to UltraMist. One case involved a man who was standing near a barbecue grill, the other case involved a woman working with welding equipment. Both cases resulted in second and third degree burns.

Dillard pointed out that the ingredients used in aerosol sprays are known to be flammable.

"The alcohol and petroleum products listed on the containers are flammable, so the only thing you're missing in the heat triangle is an ignition source," Dillard said.

__

On the Web: http://www.prnewswire.com/news-relea...174970081.html

:/ i didn't realize I'd ever have to be sad about Big Tex - he seemed like the kind of thing that would last forever. I don't know why I thought that. He was just so iconic in his way.

DOMA Ruled Unconstitutional By Federal Appeals Court In New York



http://www.huffingtonpost.com/2012/1...p_ref=politics

U.S. sues Bank of America over "Hustle" mortgage fraud
 

Reuters) - The United States filed a civil mortgage fraud lawsuit against Bank of America Corp, accusing it of selling thousands of toxic home loans to Fannie Mae and Freddie Mac that went into default and caused more than $1 billion of losses.

Wednesday's case, originally brought by a whistleblower, is the U.S. Department of Justice's first civil fraud lawsuit over mortgage loans sold to Fannie Mae or Freddie Mac.

It also compounds the problems that the Bank of America, second-largest U.S. bank, has faced since its disastrous 2008 purchase of Countrywide Financial Corp, once the nation's largest mortgage lender.

According to a complaint filed in Manhattan federal court, Countrywide in 2007 invented a scheme known as the "Hustle" designed to speed up processing of residential home loans.

Operating under the motto "Loans Move Forward, Never Backward," mortgage executives tried to eliminate "toll gates" designed to ensure that loans were sound and not tainted by fraud, the government said.

This resulted in "defect rates" that were roughly nine times the industry norm, but Countrywide concealed this from Fannie Mae and Freddie Mac, and even awarded bonuses to staff to "rebut" the problems being discovered, it added. The scheme ran through 2009 and caused "countless" foreclosures, it added.

"The fraudulent conduct alleged in today's complaint was spectacularly brazen in scope," U.S. Attorney Preet Bharara in Manhattan said in a statement. "This lawsuit should send another clear message that reckless lending practices will not be tolerated."

Bank of America did not immediately respond to requests for comment.

Since paying $2.5 billion for Countrywide on July 1, 2008, the Charlotte, North Carolina-based bank has lost nearly $40 billion on mortgage litigation and requests by investors to buy back soured loans, Credit Suisse estimated on October 5.

Some of these costs related to Merrill Lynch & Co, which Bank of America bought at the beginning of 2009.

WHISTLEBLOWER

According to court records, the case had been filed under seal in February by Edward O'Donnell, a Pennsylvania resident and former executive vice president at Countrywide Home Loans who had worked there between 2003 and 2009.

The United States later joined the case. It seeks triple damages under the federal False Claims Act, as well as civil penalties.

It is unclear whether O'Donnell has hired a lawyer. O'Donnell could not immediately be reached for comment.

Federal regulators seized Fannie Mae and Freddie Mac on September 7, 2008 and put them into a conservatorship.

Bharara's office has in the last 1-1/2 years brought five civil fraud lawsuits against other lenders under the False Claims Act over alleged reckless residential mortgage lending, involving loans insured by the Federal Housing Administration.

In February, Citigroup Inc settled its case for $158.3 million and Flagstar Bancorp Inc settled for $132.8 million, while Deutsche Bank AG settled in May for $202.3 million. Cases are pending against Wells Fargo & Co and Allied Home Mortgage Corp, Bharara said.

On Monday, Congressman Barney Frank, who chaired the House Financial Services Committee in 2008, said Bank of America should probably be shielded from government lawsuits over Merrill, which it bought in part at federal officials' urging, but he said he knew of no such urging to buy Countrywide.

Bank of America shares were up 2 cents at $9.38 in afternoon trading on the New York Stock Exchange.

The case is U.S. ex rel. O'Donnell v. Bank of America Corp et al, U.S, District Court, Southern District of New York, No. 12-01422.

http://news.yahoo.com/u-sued-bank-am...7--sector.html

-----------------------


About freakin time.

Climate Change, Sandy and Scientist
 

Maybe this should be in the Science thread but I could not find it. If the insurance companies are taking notice, there must be some truth to it.

http://blogs.scientificamerican.com/...rricane-sandy/


Munich Re, one of the world’s largest reinsurance firms, issued a study titled “Severe Weather in North America.” According to the press release that accompanied the report, “Nowhere in the world is the rising number of natural catastrophes more evident than in North America.”