Yahoo! News: Terrorism
Yahoo! News: Terrorism |
- Prosecutor In Foxx’s Office Slams Her Handling of Smollett Case: ‘An International Laughingstock’
- Kidnapped American tourist, guide rescued by security forces in Uganda
- Libya clashes over Tripoli escalate as city's airport is hit
- Free speech means I don't have to be nice to Devin Nunes on Twitter. So why's he suing me?
- Ghosn to reveal who he blames for arrest in Japan: wife
- Dutch adventurer finishes three-year electric car journey in Australia
- Booking a Flight Soon? These Are the Best (and Worst) Airlines, Researchers Say
- The Private Sector Must Lead the Way to 5G
- Stanford student who allegedly faked sailing credentials expelled
- American Tourist Kimberly Sue Endicott and Tour Guide Jean Paul Mirenge Reportedly Found Alive in Uganda
- Narendra Modi Kashmir election pledge woos Hindu nationalists and risks Muslim backlash
- Democrats will ‘never’ get a hold of Trump’s tax returns, White House says
- The Latest: Rwandan genocide survivor recounts horror
- Feud between wife, ex-wife sparks slander case in Dubai
- Turkey says 'irresponsible' Netanyahu cannot change West Bank status
- View Photos of the Jeep Gladiator Gravity Concept
- Samsung is reportedly planning to launch four Galaxy Note 10 models in 2019
- Google further 'confirms' unannounced Pixel 3 ‘Lite' with reference on site
- Lords Move to Prevent No-Deal as Talks Stumble: Brexit Update
- Trump: Uganda must capture kidnappers of freed US tourist
- 26 Stunning Pieces of Jewelry Mom Will Never Want to Take Off
- Battle rages for Libya's capital, airport bombed
- Iran vows to retaliate if US lists Revolutionary Guards as terror organisation
- Why Are Rear-Seat Entertainment Systems behind the Times?
- The Latest: Nissan shareholders OK ousting Ghosn from board
- 'Both sides' must compromise in cross-party Brexit talks: British PM
- Here's the biggest news you missed this weekend
- Wall Street loves socialism for bankers – but not for ordinary people
- American Airlines extends Max-caused cancellations to June 5
- Cory Booker raises more than $5 million for U.S. presidential run
- Felicity Huffman pleads guilty in college admissions cheating scam; 'I am ashamed,' she says
- Tripoli Government's Counterattack Promise Lifts Oil Jitters
- Joe Biden Fails Sensitivity Training on 'Saturday Night Live'
- Dad Arrested for Breaking Traffic Laws While Rushing Daughter to Hospital; Nurses Bond Him Out
- May to meet Merkel, Macron ahead of crucial Brexit summit
- Joanna Gaines' favorite lipstick has over 5,000 positive reviews -- and it's under $20
- Russia decides to free captive whales after outcry - governor
- See the New 2019 Mazda 3 Hatchback in Photos
- Creating an eco-friendly nursery, from paint to fabrics
- Trump attacks Muslim congresswoman Ilhan Omar hours after death threats against her revealed
- In unprecedented move, U.S. names Iran's Revolutionary Guards a terrorist group
- Libya clashes death toll rises to 32: UN-backed government
- Apple rumored to launch two new OLED iPhone models with triple-lens cameras in 2019
Prosecutor In Foxx’s Office Slams Her Handling of Smollett Case: ‘An International Laughingstock’ Posted: 08 Apr 2019 06:47 AM PDT An anonymous attorney in the Cook County prosecutor's office lambasted state attorney Kim Foxx over her handling of the high profile Jussie Smollett case, and the tendency of her and her allies to resort to accusations of racism when criticized, in an a letter provided to CWB Chicago on Monday.Foxx's office dropped all charges against Smollett last month after he was indicted by a grand jury for allegedly staging a bigoted and politically-motivated hate crime against himself with the help of two friends who were paid for their services. Citing his record of community service and the technically victimless nature of his alleged crime, Foxx's office dropped all charges without requiring that Smollett admit guilt.After briefly reviewing the history of racial discrimination in Chicago, the unnamed assistant state's attorney attacked Foxx and her allies for casting criticism of the decision as racist.The letter reads:> Fast forward to 2019 Chicago. The State's Attorney's Office (SAO) is an international laughingstock, as politicians, comedians, scholars, legal pundits and regular ol' citizens alike blast its handling of the case against Jussie Smollett. The criticism is pointed squarely at Kim Foxx, the first African American female elected to fill the prestigious role of Cook County State's Attorney.> In the wake of said criticism, Ms. Foxx speaks at a Rainbow PUSH coalition meeting and states she cannot run an office "driven by anger and public sentiment." She says "the goal posts change" when an African-American takes the position of head prosecutor, seemingly calling the critique of the SAO's handling of the Smollett case racially-based and derogatory toward her people.He later adds: And blaming Jussie Smollett fallout on race? That is just ignorant and self-serving. It is a complete bastardization of a bona fide movement against acts of racism, which, as a society we should obviously not tolerate. Much like Jussie Smollett's acts bastardized a bona fide movement against hate crimes. The unnamed prosecutor goes on to accuse Foxx of insulting the Chicago police by dropping all charges without consulting them just weeks after their superintendent, Eddie Johnson, made an impassioned speech about the harm Smollett did to the community by staging a hate crime.> When you demean law enforcement like that you not only strip them of their dignity, you also contribute to the violence in the city. Because young African-American boys and girls who hear the head prosecutor, Jesse Jackson, Bobby Rush, Al Sharpton, et al call police racist, act accordingly," the letter reads.No prosecutors or police officers, and I mean none, thought that the just result would be for Jussie Smollett to go to prison. He was charged with a Class 4 felony. The anticipated outcome was a reduced sentence, a misdemeanor with some community service or restitution. This would have been done on the record, on a regularly scheduled court date, with the Chicago Police being notified, since they are the "victim" in a disorderly conduct of this nature. This case was handled markedly different from any other case at 26th Street. No one knows why, and more importantly, no one can explain why our boss, the head prosecutor of all of Cook County, has decided to so demean and debase both our hard work, and our already tenuous relationship with the Chicago Police Department.Just to be clear - this is not an attack on Ms. Foxx's race, it is an attack on her ethics and her efficacy as State's Attorney. |
Kidnapped American tourist, guide rescued by security forces in Uganda Posted: 07 Apr 2019 02:03 PM PDT |
Libya clashes over Tripoli escalate as city's airport is hit Posted: 08 Apr 2019 12:37 PM PDT |
Free speech means I don't have to be nice to Devin Nunes on Twitter. So why's he suing me? Posted: 07 Apr 2019 12:23 PM PDT |
Ghosn to reveal who he blames for arrest in Japan: wife Posted: 07 Apr 2019 02:56 AM PDT Former Nissan boss Carlos Ghosn has recorded a message in which he names the people he believes are to blame for his legal problems in Japan, his wife said in an interview on Sunday. Ghosn was re-arrested last week in Japan over fresh allegations of financial misconduct which will see him held in custody until at least April 14. Ghosn's wife Carole told the Journal du Dimanche newspaper in France that he had recorded a video interview in English before his detention. |
Dutch adventurer finishes three-year electric car journey in Australia Posted: 07 Apr 2019 06:38 AM PDT As Wiebe Wakker turned off his car in Sydney, Australia on Sunday afternoon it marked the end of a more than three-year journey for the Dutch adventurer and Blue Bandit, his converted electric Volkswagen Golf. Wakker's Plug Me In initiative is the longest journey in an electric car ever recorded and was started to inspire and educate on a carbon-free future, according to the campaign's website. Wakker departed the Netherlands on March 15, 2016 and has spent a total of 1,119 days traveling more than 95,000 km (59,000 miles) and visiting 33 countries to try and draw attention to the durability and sustainability of electric cars. |
Booking a Flight Soon? These Are the Best (and Worst) Airlines, Researchers Say Posted: 08 Apr 2019 04:15 AM PDT |
The Private Sector Must Lead the Way to 5G Posted: 08 Apr 2019 03:30 AM PDT There's an interesting debate brewing on these pages between former House speaker Newt Gingrich and Federal Communications Commission (FCC) commissioner Brendan Carr on how to make the move to super-fast 5G wireless networks and how to protect America in the process.By way of background, I founded the House Internet Caucus back when Gingrich was speaker. We didn't see eye-to-eye on very much, but I welcomed his occasional interest in technology.On this issue, though, he is wrong, and Commissioner Carr is right. The best -- really the only -- way to ensure the fastest possible deployment of 5G technology and to preserve American leadership in wireless is to follow the path that has driven American leadership in 4G. The private sector, not the government, must take the lead, and the primary government role should be to continue selling 5G spectrum to the private sector at auction.In January of last year, it was reported that the Trump administration was considering, in effect, nationalizing at least part of the 5G spectrum by having one government-owned network. This poorly considered idea was rejected the very next day by the administration's own FCC chairman, Ajit Pai. We all hoped that the notion had been squelched.Now, however, Gingrich has revived the controversy, first with a piece widely interpreted as favoring nationalization and then in his response to Commissioner Carr here at NRO. In the latter article, Gingrich calls for a "public-private partnership [with] shared spectrum available for a carrier-neutral, wholesale-only, nationwide 5G network."While he suggests that the government-fostered wholesale network be built with private capital, he doesn't say from where the money would come, and he clearly envisions a broad government role. What would that role be? How would a wholesale network work with multiple companies contributing to its construction and multiple carriers utilizing it for services? Gingrich doesn't say, but if the rules for FCC spectrum auctions are complex and take too long to resolve, one can only imagine how difficult it would be to create rules for one network that multiple providers are supposed to finance and share.Gingrich is preoccupied with the notion that Chinese companies will build 5G networks in other countries, arguing that to counter those efforts, we need government involvement in the development of our own 5G network. This leap of logic is particularly hard to comprehend because the major carriers in the U.S., with strong government urging, have already decided not to buy core wireless technology developed by Chinese companies. Our carriers today purchase routers and other hardware from providers outside of the U.S., including Nokia and Erickson, since no U.S. companies currently compete in that market. But the intelligent parts of the networks -- the computer chips, software, and back-end operations -- are already provided by leading American companies, including QUALCOMM, Juniper, and Cisco. Our government can and seems willing to prevent Chinese equipment providers from expanding into our market, and building a government network in the U.S. will do nothing to blunt Chinese expansion abroad.Gingrich claims that a government-fostered national 5G network with shared access is necessary to unleash the power of deep liquid financial markets, enable market price discovery, and promote a culture of innovation. Those are exactly the virtues that have underpinned our wireless supremacy to date.Our liquid financial markets powered the investments that enabled America to lead the world in 4G. As for market price discovery, that's precisely what our spectrum auctions -- the very thing Gingrich criticizes -- accomplish. We have an unrivaled culture of innovation with a network that is the envy of the world and the platform for Google, Facebook, Amazon, and other edge providers that are among the world's most innovative companies. Moving to a government-overseen network both is unnecessary and would put that success at risk.Spectrum-sharing does not address any perceived need, nor would it appear to make the network more resilient or secure, or even offer a better platform on which for edge providers to innovate.Gingrich is right in pointing to the painful absence of broadband in large swaths of rural America; innovative new approaches may be needed to address this urgent concern. A role for government in providing grants to rural electric and telephone cooperatives and other providers willing to build out may be a partial answer, but Gingrich is not proposing a rural-only solution, and creating a national, government-overseen 5G network doesn't appear to offer obvious improvements, even for rural America.In short, major American commercial operators have the incentives they need to get to market quickly. They are not sitting on their hands and certainly not willingly ceding global leadership to China. This is not the time for the government to be in the market as a wholesaler to multiple companies whose systems are competing. That's a recipe for confusion, slow deployments, potential additional points of failure, and the ceding of American leadership.Commissioner Carr is right: Our current policies, which have established American leadership in 4G, have narrowed the digital divide, raised Internet speeds, and put us on the path to having a far stronger deployment of 5G than Asia will by 2022.As we say in the mountains, if it ain't broke, don't fix it. |
Stanford student who allegedly faked sailing credentials expelled Posted: 08 Apr 2019 09:51 AM PDT |
Posted: 07 Apr 2019 10:11 AM PDT ISAAC KASAMANI/GettyKimberly Sue Endicott, the American tourist from Costa Mesa, California, who was kidnapped along with her tour guide on a safari in Uganda were rescued alive, according to local authorities."She has been located and rescued unharmed," Uganda military spokesman Brigadier Richard Karemire told Reuters. Police said on Twitter that the Endicott and her Congolese tour guide "are in good health" and "in the safe hands" of security officials. Citing a spokesperson for Wild Frontiers Uganda and authorities, ABC News reported that Endicott and her Congolese tour guide were returned to a lodge at Queen Elizabeth National Park. Uganda's police force said the pair was "rescued" but did not provide specifics. The kidnappers have reportedly escaped. Endicott, who reportedly owns a small skin-care shop and is in her mid-50's, has been missing since Tuesday when four kidnappers stopped the safari group at gunpoint in Queen Elizabeth National Park. Endicott reportedly has a daughter and a granddaughter. Her 48-year-old driver, Jean-Paul Mirgene Remezo, was also taken in the kidnapping. Two elderly tourists with the group were left in the safari jeep.Local police say the kidnappers used Endicott's mobile phone to demand a $500,000 ransom. Cops believe the motive behind the kidnapping was financial, mainly because the men quickly made their demand for the money using Endicott's cellphone.The kidnappers have reportedly been trying to negotiate her release. It was not clear if any money was exchanged and, if so, how much. Kidnappings of this nature are rare in Uganda, Reuters reports. The most recent high-profile kidnapping occurred in 1999, when eight tourists and four guides were killed in the Bwindi Impenetrable National Park, just south of Queen Elizabeth National Park. Read more at The Daily Beast. |
Narendra Modi Kashmir election pledge woos Hindu nationalists and risks Muslim backlash Posted: 08 Apr 2019 12:25 PM PDT India's ruling party on Monday attempted to woo Hindu nationalists by unveiling a last-ditch manifesto pledge to end Kashmir's special autonomous status. With his popularity falling to an all-time low after failing to deliver on previous economic pledges, Narendra Modi, the prime minister, is instead appealing to rising anti-Muslim and anti-Pakistan sentiment among India's electorate to secure his second term. The world's biggest democracy heads to the polls on Thursday with Mr Modi expected to scrape a narrow victory when ballots are counted on May 23. Kashmir saw a huge escalation of tension in February, when a Pakistan-based Islamist group killed dozens of Indian troops and India responded with airstrikes. In front of a crowd at the the Bharatiya Janata Party (BJP) headquarters in New Delhi yesterday (MON), Mr Modi declared he would scrap the autonomous status Jammu and Kashmir has had since 1954. BJP supporters have long petitioned for its removal arguing that it allows the state claimed by both India and Pakistan to resist central rule from New Delhi. Profile | Narendra Modi Mr Modi also controversially vowed to reverse a law forbidding anyone who is not a permanent resident of the state from owning property or obtaining a job there. This move is seen as an attempt to dilute Kashmiri identity by encouraging Indians from elsewhere in the country to move to the region. However, his pledge has sparked fears that it could lead to further unrest "If this happens then not only Kashmir but the country and the region will burn," said Mehbooba Mufti, president of the Jammu and Kashmir Peoples Democratic Party. The leader of the National Conference Farooq Abdulla said if the articles were repealed it would lead to the state seceding from India. On Sunday, Mr Modi tightened his grip on the state by banning Kashmiri civilians from using the 170-mile highway – the only way in and out the region – for two days a week to allow easier access for his military personnel. Local politicians compared the decision to policies implemented by Israel in the Occupied Palestinian Territories. |
Democrats will ‘never’ get a hold of Trump’s tax returns, White House says Posted: 07 Apr 2019 11:14 AM PDT The White House acting chief of staff has said Democratic lawmakers probing Donald Trump's financial dealings will "never" get a hold of the president's tax returns. Mick Mulvaney lambasted the congressional investigations during a Fox News Sunday interview, suggesting efforts by the House Oversight Committee to request the president's tax documents from the Internal Revenue Service (IRS) were nothing short of a "political hit job."Democrats "knew they were not going to get these taxes, they know what the law is, they know that one of the fundamental principles of the IRS is to protect the confidentiality of you and me and everybody else who files taxes, they know that," Mr Mulvaney said on Sunday. "They know the terms under law by which the IRS can give them the documents but political hit job is not one of those reasons.""To be clear, you believe Democrats will never see the president's tax returns?" the host asked him. "Never," Mr Mulvaney replied. "Nor should they. Keep in mind, that's already an issue that was already litigated during the 2016 election. Voters knew the president could have given his tax returns, they knew that he didn't and they elected him anyway."Mr Trump repeatedly declined to make his tax returns public throughout the 2016 election, despite virtually every other major candidate releasing years of their own returns. The president at the time told voters and media outlets he was unable to present his tax returns due to an ongoing IRS audit. The IRS has said audits do not stop the agency or an individual from being able to provide tax returns, however. The president shot down questions about releasing his tax returns earlier this week, telling reporters in the Oval Office, "they'll speak to my lawyers.""They'll speak to the attorney general," he added, repeating, "They'll speak to my lawyers and speak to the attorney general." Lawmakers on the Democratic-controlled House Ways and Means Committee have requested up to six years of the president's personal tax returns and several of his businesses no later than 10 April. When asked by reporters on Wednesday if he'd ever release his tax returns on his own, the president told media, "Until such time as I am not under audit, I will not be doing that, thank you." |
The Latest: Rwandan genocide survivor recounts horror Posted: 07 Apr 2019 10:41 AM PDT |
Feud between wife, ex-wife sparks slander case in Dubai Posted: 08 Apr 2019 07:46 AM PDT A British woman has been prevented from leaving Dubai, police in the Emirate said Monday, after her ex-husband's new wife pressed defamation charges over comments posted on Facebook. Dubai police confirmed a 55-year-old British woman was being tried for defamation under the UAE's cybercrime law. While police would not disclose the woman's identity, the London-based group Detained in Dubai identified her as Laleh Sharavesh, saying she had described her ex-husband's new wife as 'a horse'. |
Turkey says 'irresponsible' Netanyahu cannot change West Bank status Posted: 07 Apr 2019 04:54 AM PDT Turkey on Sunday criticized Israeli Prime Minister Benjamin Netanyahu as "irresponsible" for saying he would annex Israeli settlements in the occupied West Bank if he wins Tuesday's election. Foreign Minister Mevlut Cavusoglu said the West Bank, which Israel seized in the 1967 Middle East war, was Palestinian territory and Israel's occupation violated international law. |
View Photos of the Jeep Gladiator Gravity Concept Posted: 07 Apr 2019 09:00 PM PDT |
Samsung is reportedly planning to launch four Galaxy Note 10 models in 2019 Posted: 08 Apr 2019 10:16 AM PDT Several recent reports claimed that Samsung would be doing the unthinkable with this year's Galaxy Note 10 series by launching a smaller, more affordable version alongside the regular next-gen big-screen Samsung smartphone flagship. This wouldn't quite be a first for Samsung though, as the company did launch two distinct Note models a few years ago when it introduced the Note Edge display concept.A new report from Korea now says that Samsung is ready to double down on that strategy, with plans to reveal up to four Galaxy Note 10 models in stores later this year. That's something Samsung has never done before, and the Galaxy S10's sales success is apparently the catalyst behind this decision.Samsung introduced no less than four Galaxy S10 models back in February, including the Galaxy S10e, Galaxy S10, Galaxy S10+, and Galaxy S10 5G. We're looking at four flagship devices all sharing the same design and main specs. However, the more money you're willing to spend, the better features you get. Screen size increases considerably as you move towards the 5G model, as does battery size. Also, the 5G phone comes with support for the next-gen cellular data speeds standard (in case that wasn't clear from the product's name).According to ETNews, the Galaxy S10 strategy worked for Samsung in terms of early sales. An unnamed industry official said Samsung made some 14.5 million units in the first quarter of the year, up considerably from the average Galaxy S production for the first quarter, which is usually around 11 million.With the Galaxy Note 10, Samsung reportedly plans to introduce two LTE and two 5G models. The two 4G phones will come in two sizes -- 6.28-inch and 6.75-inch -- featuring triple and quadruple lens cameras on the back. Each phone will come in a 5G flavor as well, which will feature similar display and camera specs to the 4G versions.The report doesn't go into any other specifics about the four Note 10 models, but we'd expect them to feature the same design as the Galaxy S10 series, as well as the same processor options. On top of that, each Note 10 phone should come with a built-in S Pen stylus.Samsung is expected to unveil the Galaxy Note 10 at some point this August. |
Google further 'confirms' unannounced Pixel 3 ‘Lite' with reference on site Posted: 08 Apr 2019 02:30 AM PDT Late last week, 9to5Google spotted that the online Google Store was briefly updated to include the Pixel 3a under the Phone model menu and the Pixel 3a Case under the Featured Accessories menu in the website's navigation bar before it was promptly removed without a trace. On Friday, 9to5Google noticed that a couple of updates to Google's online store were accidentally published confirming a set of not yet officially named products: the lite version of the company's flagship device and a corresponding case. Last month, a 9to5Google source confirmed that the names of the rumored pair of Pixel 'Lite' smartphones will be the Pixel 3a and the Pixel 3a XL and, just last week, the Google confirmed the handsets themselves via the Google Play Developer Console, a platform used by developers to publish Android apps on Google Play. |
Lords Move to Prevent No-Deal as Talks Stumble: Brexit Update Posted: 08 Apr 2019 11:56 AM PDT |
Trump: Uganda must capture kidnappers of freed US tourist Posted: 08 Apr 2019 11:53 AM PDT |
26 Stunning Pieces of Jewelry Mom Will Never Want to Take Off Posted: 08 Apr 2019 07:16 AM PDT |
Battle rages for Libya's capital, airport bombed Posted: 08 Apr 2019 11:47 AM PDT Casualties were mounting in fighting that also threatens to disrupt oil supplies, fuel migration to Europe and wreck U.N. plans for an election to end rivalries between parallel administrations in the country's east and west. The eastern Libyan National Army (LNA) forces of Khalifa Haftar - a former general in Gaddafi's army - said 19 of its soldiers died in recent days as they closed in on the internationally recognized government in Tripoli. Mitiga airport, in an eastern suburb, was bombed and closed, authorities said. |
Iran vows to retaliate if US lists Revolutionary Guards as terror organisation Posted: 07 Apr 2019 09:02 AM PDT Iran has threatened to retaliate against the US if it designates its elite Islamic Revolutionary Guard Corps (IRGC) as a terrorist organisation.Washington is reportedly expected to designate the IRGC as terrorists next week, marking the first time it has formally labelled another country's military a terror group.In response, a majority of Iranian parliamentarians said: "We will answer any action taken against this force with a reciprocal action."The statement was issued by 255 out of the 290 Iranian politicians, according to state news agency IRNA."So the leaders of America, who themselves are the creators and supporters of terrorists in the [Middle East] region, will regret this inappropriate and idiotic action," it added.US secretary of state Mike Pompeo has advocated the change in US policy as part of the Trump administration's tough posture towards Tehran.In 2017, IRGC commander Mohammad Ali Jafari warned that if Donald Trump went ahead with the move "then the Revolutionary Guards will consider the American army to be like Islamic State [Isis] all around the world".The change in policy comes as Iran's supreme leader Ayatollah Ali Khamenei urged Iraq to demand US troops leave "as soon as possible" during a visit by Iraqi prime minister Adel Abdul Mahdi.Iran and the US have been competing for influence in Iraq since the US-led invasion that toppled dictator Saddam Hussein in 2003.Some 5,200 troops are stationed in Iraq as part of a security agreement with the Iraqi government to advise, assist and support the country's troops in the fight against Isis."You must make sure that the Americans withdraw their troops from Iraq as soon as possible because expelling them has become difficult whenever they have had a long military presence in a country," Iran's supreme leader was quoted as saying by state media."The Iraqi government, parliament and current political activists in the country are undesirable for the Americans ... and they are plotting to remove them from Iraqi politics."Set up after the 1979 Islamic Revolution to protect the Shia cleric ruling system, the IRGC is Iran's most powerful security organisation.It controls large sectors of the Iranian economy and has huge influence in its political system.Additional reporting by agencies |
Why Are Rear-Seat Entertainment Systems behind the Times? Posted: 07 Apr 2019 07:30 AM PDT |
The Latest: Nissan shareholders OK ousting Ghosn from board Posted: 07 Apr 2019 09:29 PM PDT |
'Both sides' must compromise in cross-party Brexit talks: British PM Posted: 07 Apr 2019 09:07 AM PDT British Prime Minister Theresa May on Sunday conceded that concluding a Brexit deal with the main opposition will need "compromise on both sides" as she faced criticism for being inflexible. The embattled leader opened negotiations this week with the Labour Party in a bid to end months of political crisis over her divorce deal struck with European leaders last year but repeatedly rejected by MPs. |
Here's the biggest news you missed this weekend Posted: 07 Apr 2019 05:30 PM PDT |
Wall Street loves socialism for bankers – but not for ordinary people Posted: 08 Apr 2019 07:28 AM PDT JPMorgan CEO Jamie Dimon decries socialism. Unless of course it's the banks that need a government bailout'JPMorgan Chase CEO Jamie Dimon was paid $31m last year. He is estimated by Forbes to be worth $1.3bn.' Photograph: Mike Blake/ReutersIn his annual letter to shareholders, distributed last week, JPMorgan Chase CEO Jamie Dimon took aim at socialism, warning it would be "a disaster for our country," because it produces "stagnation, corruption and often worse."Dimon should know. He was at the helm when JPMorgan received a $25bn socialist-like bailout in 2008, after it and other Wall Street banks almost tanked because of their reckless loans.Dimon subsequently agreed to pay the government $13bn to settle charges that the bank overstated the quality of mortgages it was selling to investors in the run-up to the crisis. According to the Justice Department, JPMorgan acknowledged it had regularly and knowingly sold mortgages that should have never been sold. (Presumably this is where the "stagnation, corruption and often worse" comes in.)The $13bn penalty was chicken feed to the biggest bank on Wall Street, whose profits last year alone amounted to $35bn. Besides, JPMorgan was able to deduct around $11bn of the settlement costs from its taxable income.To state it another way, Dimon and other Wall Street CEOs helped trigger the 2008 financial crisis when the dangerous and irresponsible loans their banks were peddling – on which they made big money – finally went bust. But instead of letting the market punish the banks (which is what capitalism is supposed to do) the government bailed them out and eventually levied paltry fines which the banks treated as the cost of doing business.If this isn't socialism, what is it?Yet it's a particular form of socialism. Millions of homeowners who owed more on their homes than the homes became worth didn't get bailed out. Millions of workers who lost their jobs or their savings, or both, didn't get bailed out. No major banker went to jail.Call it socialism for rich bankers.It's a gift that keeps giving. Dimon took advantage of the financial crisis to acquire Bear Stearns and Washington Mutual, vastly enlarging JPMorgan. America's five biggest banks, including Dimon's, now control 46% of all deposits, up from 12% in the early 1990s.And because they're so big, Dimon's and other big Wall Street banks are now considered "too big to fail". This translates into a hidden subsidy of some $83bn a year, because creditors who face less risk accept lower interest on deposits and loans.More socialism for rich bankers.After the financial crisis and bailout, Congress enacted a milquetoast version of the Glass-Steagall Act, a banking law from the Great Depression that bankers killed off in the 1990s. The replacement was called the Dodd-Frank Act.Ever since, Dimon has pushed to weaken Dodd-Frank.When Obama's regulators wanted to extend Dodd-Frank to the foreign branches and subsidiaries of Wall Street banks, Dimon warned it would harm Wall Street's competitiveness.This was the same Jamie Dimon who chose London as the place to make highly risky derivatives trades that lost the firm some $6bn in 2012 – proof that unless the overseas operations of Wall Street banks are covered by US regulations, giant banks like his will move more of their betting abroad, hiding their wildly-risky bets overseas so U.S. regulators can't see them.More recently, Trump's bank regulators have heeded Dimon, and rolled back Dodd-Frank.Dimon was also instrumental in getting the big Trump tax cuts through Congress. They saved JPMorgan and the other big banks $21bn last year alone.Dimon was paid $31m last year. He is estimated by Forbes to be worth $1.3bn.Ironically, a few weeks ago Dimon warned that income inequality is dividing America. He said that a "big chunk" of Americans have been left behind, and, announcing a $350m program to train workers for the jobs of the future, lamented that 40% of Americans make less than $15 an hour.True, but $350m over five years isn't even a drop in the ocean for the Americans left behind.Wall Street bonuses totaled $27.5bn last year, which is more three times the combined annual earnings of all American workers employed full-time at the federal minimum wage. That's more than 600,000 low-wage workers.If Dimon were serious about the problem of widening inequality, he'd use his lobbying prowess to help raise the federal minimum wage. He'd also try to make it easier for workers to unionize, and to raise taxes on the super-wealthy like himself.But, of course, Dimon isn't really concerned about widening inequality. He's not really concerned about socialism, either.Dimon's real concern is that America may end the kind of socialism he and other denizens of the Street depend on – bailouts, regulatory loopholes, and tax breaks.These have made Dimon and his comrades a fortune, but they've brought the rest of America stagnation, corruption, and often worse. * Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. He is also a columnist for Guardian US |
American Airlines extends Max-caused cancellations to June 5 Posted: 07 Apr 2019 08:59 PM PDT |
Cory Booker raises more than $5 million for U.S. presidential run Posted: 07 Apr 2019 01:27 PM PDT New Jersey Senator Cory Booker raised more than $5 million for his presidential election campaign in February and March, and has more than $6.1 million in cash on hand, his campaign said on Sunday. U.S. Senator Kamala Harris of California raised $12 million in the first three months of 2019 while Pete Buttigieg, the mayor of South Bend, Indiana, who recently saw a bump in opinion polls but is still considered a long-shot, announced Monday that he had raised $7 million. Beto O'Rourke, a former U.S congressman from Texas, raised $9.4 million in the first 18 days of his bid for the presidency, his campaign said. |
Posted: 08 Apr 2019 04:22 PM PDT |
Tripoli Government's Counterattack Promise Lifts Oil Jitters Posted: 07 Apr 2019 01:27 PM PDT The operation, dubbed "Volcano of Anger," seeks to "cleanse all Libyan cities of the aggressors," the Government of National Accord's military spokesman, Mohamed al-Qonuni, said in a televised statement. Fighting on the outskirts of Tripoli showed no sign of abating despite appeals for calm by global powers and the United Nations. Haftar's self-styled Libyan National Army continued its push to enter the capital Sunday, conducting airstrikes on a road leading to Tripoli, LNA spokesman Ahmed al-Mismari said. |
Joe Biden Fails Sensitivity Training on 'Saturday Night Live' Posted: 07 Apr 2019 10:58 AM PDT |
Dad Arrested for Breaking Traffic Laws While Rushing Daughter to Hospital; Nurses Bond Him Out Posted: 08 Apr 2019 07:09 AM PDT |
May to meet Merkel, Macron ahead of crucial Brexit summit Posted: 08 Apr 2019 03:16 PM PDT British Prime Minister Theresa May on Monday started a last-minute flurry of European diplomacy that includes visits to Paris and Berlin as she prepares for a make-or-break Brexit summit. After putting her request in a letter to European Council president Donald Tusk last week, she spoke by telephone on Monday with him and European Commission chief Jean-Claude Juncker. May is also to visit German Chancellor Angela Merkel and French President Emmanuel Macron on Tuesday, in what her spokeswoman said was an attempt to set out "the rationale" for a further short delay. |
Joanna Gaines' favorite lipstick has over 5,000 positive reviews -- and it's under $20 Posted: 08 Apr 2019 08:03 AM PDT |
Russia decides to free captive whales after outcry - governor Posted: 08 Apr 2019 12:35 AM PDT Russian authorities have decided to free nearly 100 whales held in cages in Russia's Far East, the governor of Russia's Primorsky Region said on Monday, the TASS news agency reported. The decision to release the whales, after months of delays, coincided with a visit to the enclosures by Jean-Michel Cousteau, a French oceanographer and son of famous marine expert Jacques Cousteau. "An official decision has been taken to release all the animals into the wild," Oleg Kozhemyako, the governor of Primorsky Region, was quoted as saying by TASS. |
See the New 2019 Mazda 3 Hatchback in Photos Posted: 08 Apr 2019 11:30 AM PDT |
Creating an eco-friendly nursery, from paint to fabrics Posted: 08 Apr 2019 10:22 AM PDT |
Trump attacks Muslim congresswoman Ilhan Omar hours after death threats against her revealed Posted: 07 Apr 2019 04:24 AM PDT Donald Trump attacked one of the first Muslim women to serve in the US Congress, hours after it emerged that death threat had been made against her. Mr Trump claimed Ilhan Omar did not like Israel at a Republican Jewish Coalition event in Las Vegas. "Special thanks to Representative Omar of Minnesota," he said. "Oh, I forgot. She doesn't like Israel. I forgot. I'm so sorry."His comments came hours after it emerged that a New York man, who said he "loved" the US president was charged with threatening to kill the Minnesota Democrat. Patrick Carlineo Jr was arrested after placing a call to Ms Omar's office in which he called the politician a "terrorist" before threatening to shoot her, federal prosecutors said. "Do you work for the Muslim Brotherhood? Why are you working for her, she's a (expletive) terrorist? I'll put a bullet in her (expletive) skull," the 55-year-old allegedly said. He later told bureau investigators that he "loves the president and that he hates radical Muslims in our government," according to the criminal complaint filed by US Attorney's Office in the Western District of New York.Ms Omar was forced to apologise earlier this year for tweets implying US politicians only supported Israel because of lobby money.She faced widespread condemnation for suggesting the American Israel Public Affairs Committee (Aipac) was buying influence for pro-Israel policies. Republicans and Democrats alike said the tweets stoked antisemitic tropes about Jews and money.Responding to Mr Trump's latest comments about, The 37-year-old mother of three who is the first Somali-American, first African-born American, and one of the first two Muslim American women to serve in the US Congress, tweeted: "My Lord, forgive my people for they do not know."> رَبِّ اغْفِرْ لِقَوْمِي فَإِنَّهُمْ لاَ يَعْلَمُونَ > > My Lord, forgive my people for they do not know. https://t.co/mtEzMrCLKF> > — Ilhan Omar (@IlhanMN) > > April 7, 2019Mr Trump's attack against Ms Omar,, was part of a wide-ranging speech, which saw him tout his decision to move the US embassy to Jerusalem from Tel Aviv and his recognition of Israeli sovereignty over the Golan Heights.He was nonetheless denounced by the Jewish Democratic Council of America executive director Halie Soifer. "We strongly denounce President Trump's continued assault on decency and truth, as was evident in his speech earlier today before the Republican Jewish Coalition in Las Vegas," Ms Soifer said. She added that Mr Trump's "policies and rhetoric are antithetical to Jewish values and … antisemitism has increased to unprecedented levels due to Trump's divisive words, policies and willful blindness "What happened today in Las Vegas was a shameful display of lies and arrogance." |
In unprecedented move, U.S. names Iran's Revolutionary Guards a terrorist group Posted: 08 Apr 2019 02:44 PM PDT The action by Trump, who has taken a hard line toward Iran by withdrawing from the 2015 Iran nuclear deal and re-imposing broad economic sanctions, marks the first time the United States has formally labeled another nation's military a terrorist group. The U.S. step, which takes effect on April 15, prompted an immediate response from Iran, whose Supreme National Security Council in turn designated U.S. military forces as a "terrorist organization," Iranian state-run TV reported. "The U.S. military bases and their military forces in the region will be considered terrorist bases and terrorist forces that will be dealt with and confronted accordingly," Iran's Deputy Foreign Minister Abbas Araqchi told Iranian state TV, calling the U.S. decision "a major strategic mistake." "The IRGC is the Iranian government's primary means of directing and implementing its global terrorist campaign," Trump said in a statement. |
Libya clashes death toll rises to 32: UN-backed government Posted: 08 Apr 2019 12:08 AM PDT At least 32 people have been killed and around 50 wounded in fighting with strongman Khalifa Haftar's troops near Tripoli, the UN-backed government said. Health minister A'hmid Omar gave the updated death toll in an interview with Libya's Al-Ahrar television station late Sunday. Haftar's forces have so far said 14 of their fighters have died. |
Apple rumored to launch two new OLED iPhone models with triple-lens cameras in 2019 Posted: 08 Apr 2019 06:15 AM PDT We're still months out from the official reveal of Apple's next iPhone lineup, but most of the early rumors and reports have indicated that we will see three direct successors to the XS, XS Max and XR in 2019. There will be more than a few new features, and the standard bump in specifications, but we're not expecting any major design changes or new models. At least, we weren't, until Macotakara released a surprising report on Monday morning.According to the Japanese technology blog, Apple has five new iPhone models planned for 2019. In addition to the updated XS, XS Max, and XR models, reliable supply chain sources claim that Apple is working on two other OLED iPhone models built specifically to accommodate the triple-lens rear camera.The first OLED model is said to have a 6.1-inch display and be 0.15mm thicker than the iPhone XS, but the camera bump will be reduced by 0.05mm. The second model, which features a 6.5-inch display, will be 0.40mm thicker than the iPhone XS Max, but, similarly, the camera bump will see an 0.25mm reduction.Macotakara says that both of these models are expected to ship with USB-C to Lightning cables with an 18W charger, as well as support for reverse wireless charging, which will give the upcoming iPhones the ability to charge the latest AirPods with Wireless Charging Case and other Qi-compatible devices.Considering just how drastically this report diverts from the reports we've seen about the 2019 iPhone lineup so far, it's worth taking everything here with a grain of salt. That said, Macotakara has been a fairly reliable source of iPhone leaks over the years, so we'll be on the lookout for more reports to back these assertions up. |
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