Monthly Archives: March 2013

Ohio, Maryland Courts Address Speed Camera Due Process Concerns

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“A Hamilton County, Ohio Court of Common Pleas judge put a stop to it on Thursday with a permanent injunction prohibiting photo radar contractor Optotraffic from issuing $105 photo tickets in the village of Elmwood Place. In Baltimore County, Maryland last month, a circuit court judge ruled that the county has been violating state law by paying Xerox a bounty for every ticket the private company drops in the mail.  Judge Susan Souder ruled local jurisdictions cannot evade the ban on contingent fees simply by claiming that Xerox and other firms do not ‘operate’ the cameras.”

http://www.thenewspaper.com/news/40/4044.asp

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President Obama and his secret executive friends

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“‘Secret friends’ is essentially the arrangement that the president has kept with several corporate executives. Clearly, the president likes them: they include American Express CEO Kenneth Chenault and Xerox CEO Ursula Burns, as well as, on a more fitful basis, JP Morgan CEO Jamie Dimon and General Electric CEO Jeff Immelt.  But before the executives even have time to source Washington DC real estate, their names are taken out of the running. The administration rejects being associated with them, in favor of long-serving veterans who are already in the White House cool kids’ club.”

http://www.guardian.co.uk/commentisfree/2013/mar/07/president-obama-secret-executive-friends

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“We have so many more questions for Mr. Lew.”

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EPJ13

“When you are a technocrat for the crony elite, you don’t have to be bothered with questions posed by Senators when you are up for confirmation as Treasury Secretary. You especially don’t have to answer questions about unusual bonuses you have received and accounts you have overseas at notorious tax havens. Why the gall of these Senators.”

http://www.economicpolicyjournal.com/2013/03/we-have-so-many-more-questions-for-mr.html

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Obama won’t push Middle East peace initiative in Israel trip

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“President Barack Obama on Thursday signaled there would be no big Middle East peace initiative on the table when he arrives in Israel later this month for his first visit as US leader.  Officials have styled the trip as an effort to reconnect with Israeli Prime Minister Benjamin Netanyahu, with whom he had a delicate relationship during his first term and to coordinate on key issues like Iran and Syria.  ‘The President reiterated America’s unshakeable support for Israel and thanked the leaders for role they play in strengthening ties between the two nations,’ the official said.”

http://www.rawstory.com/rs/2013/03/07/obama-wont-push-middle-east-peace-initiative-in-israel-trip/

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Democratic senator votes against CIA nominee: Too many Bush-era policies continue

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“Democratic Sen. Jeff Merkley of Oregon voted against John Brennan’s nomination to be the next director of the CIA, saying he was too cozy with the policies of the Bush administration.  Merkley listed warrantless wiretapping, the lack of rights given to those deemed ‘enemy combatants,’ and the use of drone strikes as his primary concerns. The Democratic senator doubted that Brennan, who has defended warrantless wiretapping, would alleviate his concerns.  Brennan has been closely associated with the use of drone strikes against suspected terrorists in Pakistan, Yemen and other countries. In a 2012 speech, he insisted the practice was legal.”

http://www.rawstory.com/rs/2013/03/07/democratic-senator-votes-against-cia-nominee-too-many-bush-era-policies-continue/

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Officials: 80 Percent Of Recent NYC High School Graduates Cannot Read

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“When they graduated from city high schools, students in a special remedial program at the Borough of Manhattan Community College couldn’t make the grade.  They had to re-learn basic skills — reading, writing and math — first before they could begin college courses.  They are part of a disturbing statistic.  Officials told CBS 2′s Kramer that nearly 80 percent of those who graduate from city high schools arrived at City University’s community college system without having mastered the skills to do college-level work.”

http://newyork.cbslocal.com/2013/03/07/officials-80-percent-of-recent-nyc-high-school-graduates-cannot-read/

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The Dorm Boom: Higher Education’s Fellow Traveler

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“It’s a curious time for a campus construction boom. Alternatives to a traditional college education are growing every day.  Amid the change and uncertainty, real estate developers are rushing to build student housing. Major homebuilding companies like Lennar and Toll Brothers that ramped their businesses up in the single-family housing boom have now shifted their focus to another boom: student housing.  While Freddie Mac, a large purchaser of student housing loans, is a bit cautious after purchasing $1.7 billion in loans last year, the private sector is ready to build.  Bricks-and-mortar higher education is a bubble searching for a pin. Student housing is going along for the ride.”

http://www.fee.org/the_freeman/detail/the-dorm-boom-higher-educations-fellow-traveler

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Why Bond Market Bulls Are About to Get Crushed

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“We have the lowest interest rates in 250 years – lower than at any time since the founding of the country – created by the Federal Reserve forcing interest rates to zero in the short term. In addition, we have the Fed encouraging banks to help lower rates through buying Treasuries. On top of this, we also have some $350 trillion of swaps derivatives of interest rates – more than half of all the derivatives out there are interest-rate derivatives. Banks use these swaps to transmit lower rates to other debt instruments based on what can they can get from the Fed. This drives all rates down. We’ve seen 30 years of declining interest rates.”

http://www.caseyresearch.com/node/41601

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At BoE, Mark Carney could be handed powers to spur economy

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“Last month, the Treasury set up a unit to explore changes to the Bank’s remit amid mounting political pressure for action to boost economic growth.  Options include giving the Monetary Policy Committee greater time to bring inflation back to the 2pc target, handing the Bank a dual mandate to target both employment and inflation – similar to that of the Federal Reserve in America – or targeting spending in the economy rather than inflation.  The Canadian central banker, who replaces Sir Mervyn King in July, has said that ‘considerable monetary policy’ is required to take up the slack in the British economy.”

http://www.telegraph.co.uk/finance/economics/9914375/Mark-Carney-could-be-handed-powers-to-spur-economy.html

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Wheel Of Distraction

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Spin

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