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Member since: Fri Sep 17, 2004, 03:59 PM
Number of posts: 44,766

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New York Stock Exchange to Take Over Libor: And That’s Supposed to Instill Confidence?

New York Stock Exchange to Take Over Libor: And That’s Supposed to Instill Confidence?
By Pam Martens: July 9, 2013

New York Stock Exhange
According to a report out of London this morning, the New York Stock Exchange (NYSE/Euronext) has been selected from a number of bidders to take over administration of Libor, the now discredited, rigged interest rate benchmark that had been previously overseen by the British Bankers Association, a lobbying organization for banks.

The idea that turning over the administration of Libor to the NYSE, whose major shareholders include some of the Wall Street firms currently under investigation for rigging Libor, would restore confidence in using Libor as an interest rate benchmark is…well…typical of Wall Street’s irrational thinking.

According to a March 31, 2013 report from Morningstar, the following Wall Street firms are among the major shareholders of NYSE/Euronext: Citigroup, 6.5 million shares; Morgan Stanley, 5.9 million shares; JPMorgan Asset Management (UK) Ltd., 4.9 million shares; Merrill Lynch & Co. Inc., 4.2 million shares; Deutsche Bank AG, 3.7 million shares; Credit Suisse First Boston, 3.6 million shares; Goldman Sachs & Co., 3.1 million shares.

The Board of Directors of NYSE/Euronext includes former executives from across Wall Street, raising further red flags about the independence of the rate setting mechanism.



Wall Street Rips Off 'The Sting'

POSTED: July 9, 12:55 PM ET

Read more: http://www.rollingstone.com/politics/blogs/taibblog/wall-street-rips-off-the-sting-20130709#ixzz2YaVZ9NH9
Follow us: @rollingstone on Twitter | RollingStone on Facebook

Luckovich: Texas’ Regulations

Choose wisely.

Republicans will exclusively produce Presidential tickets that will worsen the country in all respects.

Democrats will usually produce Presidential tickets that will worsen the country in some but not all respects.

(found this advice in the tubes) about how i feel these days when someone acuses me (a life long Dem) of NOT supporting this admin)

US must fix secret Fisa courts, says top judge who granted surveillance orders

Source: Guardian

US must fix secret Fisa courts, says top judge who granted surveillance orders
James Robertson breaks ranks and says he was shocked to hear of changes to allow broader authorisation of NSA programs

James Robertson, who retired from the District of Columbia circuit in 2010, was one of a select group of judges who presided over the so-called Fisa courts, set up under the Foreign Intelligence Surveillance Act, which are intended to provide legal oversight and protect against unnecessary privacy intrusions.

But he says he was shocked to hear of recent changes to allow more sweeping authorisations of programmes such as the gathering of US phone records, and called for a reform of the system to allow counter-arguments to be heard.


"A judge has to hear both sides of a case before deciding," he told members of a Privacy and Civil Liberties Oversight Board (PCLOB) recently appointed by President Obama.

"What Fisa does is not adjudication, but approval. This works just fine when it deals with individual applications for warrants, but the 2008 amendment has turned the Fisa court into administrative agency making rules for others to follow." "It is not the bailiwick of judges to make policy," he added.

Read more: http://www.guardian.co.uk/law/2013/jul/09/fisa-courts-judge-nsa-surveillance

NSA Senate oversight bill may handcuff U.S. companies (from challenging legality of NSL)

Source: CNET

NSA Senate oversight bill may handcuff U.S. companies
Proposal that supposedly increases oversight of the National Security Agency instead could hinder companies trying to challenge warrantless demands for their confidential customer data

A proposal in Congress touted as increasing oversight of the National Security Agency could instead derail legal challenges to the U.S. government's warrantless demands for confidential customer data.

Legislation introduced last month by Patrick Leahy, chairman of the Senate Judiciary committee, alters the ground rules that currently permit U.S. companies to object to a secretive intelligence-gathering technique, called a national security letter, used by the federal government to obtain both individual and bulk customer records.

Part of Leahy's proposal prevents companies from directly challenging the legality of NSL (National Security Letter) requests in their local courts, meaning they need to rely on the Justice Department to initiate litigation in a jurisdiction of its own choosing -- a dramatic change that raises the cost of a legal challenge and reduces the odds of it succeeding.

"Leahy's bill seems to remove the ability of recipients to initiate their own challenges to an NSL gag order," said Matt Zimmerman, a senior staff attorney at the Electronic Frontier Foundation, which is litigating an NSL case in San Francisco. If the measure becomes law, Zimmerman said, EFF might not have been able to file its lawsuit in the northern district of California, and the Justice Department "most certainly would not have either."

Read more: http://news.cnet.com/8301-13578_3-57592778-38/nsa-senate-oversight-bill-may-handcuff-u.s-companies/

WOW! Young Woman Has EPIC Rant in TX Abortion Hearings. Gets Hauled Off By State Troopers.




Updated to include rough transcript:
HERE: http://www.dailykos.com/comments/1222279/50687431#c14


Interview with Victorian Prude the woman forcibly removed from testifying in Texas
byHorace Boothroyd IIIFollow
TUE JUL 09, 2013 AT 11:54 AM PDT


Did they explain why you were forcibly removed?

There was no explanation. Senator Jane Nelson tried to say I was being disrespectful but how would she know? I barely got to give the complete performance review of every member on the committee. Pointing out that Sen. Donna Campbell is an ophthalmologist is not disrespectful when she asserts in a state hearing that she should be THE expert on reproductive health. What was disrespectful was the parade of anti-choice zealots and misogynists who got up for 13 hours and called women murderers, killers, promiscuous, thoughtless, and selfish. Not a peep from committee chair Nelson on those.


Wearer of the worst rug in senate has spoken: "There are three good reasons he could be president,"

“Well, I don’t know about what I’ve decided yet, but if Governor Perry decides to run for president, I think there are three good reasons he could be president,” he said on Fox News’ Hannity. “You know, Texas is a big, successful state; he’s a long-term governor — I can’t remember the third one, but, uh.”


I simply cannot fault Mr. Snowden for NOT wanting to return to the good old USA.

Former CIA officer John Kiriakou, who is serving a thirty-month sentence in the federal correctional institution in Loretto, Pennsylvania, has written a third letter from the prison.

Kiriakou was the first member of the CIA to publicly acknowledge that torture was official US policy under the administration of President George W. Bush. He was convicted in October of last year of violating the Intelligence Identities Protection Act (IIPA) when he provided the name of an officer involved in the CIA’s Rendition, Detention and Interrogation (RDI) program to a reporter and sentenced in January of this year. He reported to prison on February 28 (which was also the day that Pfc. Bradley Manning pled guilty to some offenses and read a statement in military court at Fort Meade).

This is the third letter to be published byFiredoglake since Kiriakou went to prison. Kiriakou did not directly provide it to Firedoglake. He sent it to his attorney, Jesselyn Radack, of the Government Accountability Project.

Kiriakou describes in the first part of his latest “Letter from Loretto” how he has had issues with the medical unit of the prison.

Kiriakou further recounts:

…I walked to the office and was told that I was going for an outside medical consultation. First I was escorted to the medical unit, where I was strip-searched and given brown pants, a brown tee-shirt, a pair of underwear, a pair of socks and a pair of slippers. The corrections officer (CO) took my clothes and my watch and put them in a plastic bag that he locked in the unit. I was then handcuffed and shackled around my ankles. A chain was placed around my waist, which connected to my handcuffs and my leg irons. Then a black steel box about the size of a computer hard drive was locked over the handcuffs so the lock could not be picked…

Letter here:

more here:

Governor Tom Corbett (R): Pregnant Women, Breast Cancer Patients Are Free Health Care Moochers

Pennsylvania Republicans have decided against expanding Medicaid under the Affordable Care Act, arguing that covering more low-income residents would cost the state too much money. But last week, Gov. Tom Corbett (R) went a step further, telling a local news station that poor residents who are already enrolled in the program, including pregnant women and breast cancer patients, are receiving too much free care and should pay into the system.

“What I hear all the time coming out of the administration in Washington is that it’s the working poor ,” Corbett told WTAE, a local ABC affiliate, on Saturday. “Yes it is working, but you should be investing five, ten dollars in co-pay to understand that you go to to the hospital or the doctors, you just can’t keep going and going and going and think everything is going to be covered. You have to know that you have some interest in what’s going on.”

Watch it:

FBI Director Nominee Says Waterboarding Is ‘Torture And Is Illegal’

Source: Talking Points Memo

FBI director nominee James Comey said Tuesday in a Senate hearing that he believes waterboarding is "torture and is illegal," and that if he were FBI director, he would have "nothing to do with it."

Senate Judiciary Committee Chairman Sen. Patrick Leahy (D-VT) asked Comey to square his personal beliefs on the torture practice with his approval of 2005 memos authorizing the practice during his tenure as U.S. deputy attorney general.

"Do you agree that waterboarding is torture and is illegal?" Leahy asked bluntly.

"Yes," Comey replied.

Read more: http://livewire.talkingpointsmemo.com/entry/fbi-director-nominee-maintains-that-waterboarding-is-torture
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