Monthly Archives: May 2013

Dodd-Frank Creates A Prebuilt Loan Predicament

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“Loans with rates and fees above certain thresholds are supposed to be designated ‘high cost’ by the Consumer Financial Protection Bureau and thus subject to fewer legal protections. The bureau earlier this year decided to call loans high-cost if they have an annual percentage rate of more than 6.5 percentage points above a national average and 8.5 percentage points for many loans under $50,000. Lenders to manufactured-home buyers say many of their loans would fall into the high-cost category with this regulation, which goes into effect in January. They warn that they won’t make such loans because they carry increased legal risk.”

http://online.wsj.com/article/SB10001424127887323551004578440900357683558.html

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The Bennett Hypothesis: Why College Tuitions Are Out of Control

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EPJ13

“Some researchers argue that government subsidies have had the perverse effect of encouraging colleges to increase tuition so as to capture more federal dollars, an effect known in the literature as the ‘Bennett hypothesis’. To see how this could work, imagine a school that charged $0 in tuition and fees. Suppose that the federal government then offered $5,000 vouchers to pay for college tuition, but only at schools that charge tuition. Obviously, our hypothetical free school is going to increase tuition to $5,000 a year to take advantage of that money. That’s just money on the table.”

http://www.economicpolicyjournal.com/2013/05/the-bennett-hypothesis-why-college.html

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Missouri Legislature Nullifies All Federal Gun Control Measures by a Veto-Proof Majority

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“All federal acts, laws, orders, rules, and regulations, whether past, present, or future, which infringe on the people’s right to keep and bear arms as guaranteed by the Second Amendment to the United States Constitution and Article I, Section 23 of the Missouri Constitution shall be invalid in this state, shall not be recognized by this state, shall be specifically rejected by this state, and shall be considered null and void and of no effect in this state.”

http://blog.tenthamendmentcenter.com/2013/05/missouri-legislature-nullifies-all-federal-gun-control-measures-by-a-veto-proof-majority/

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TSA bomb-sniffing dog bites woman at Hartsfield-Jackson

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“A Rome woman is still recovering after being bitten in the side by a TSA bomb-sniffing dog.  The incident happened on May 2nd in the south terminal baggage claim carousel at Hartsfield-Jackson airport.  Sue Dubitsky told 11Alive News she was standing in the baggage claim area and noticed the K-9 officer and handler standing beside her. She said she was barely paying them any attention when the dog suddenly lunged and bit her in the lower stomach.”

http://www.11alive.com/news/article/292245/40/TSA-bomb-sniffing-dog-bites-woman-at-Hartsfield-Jackson

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Obama Sees ObamaCare as Legacy Too Worthy to Resist

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“Obama summoned about 20 senior administration officials to the White House’s Roosevelt Room for an hour-long meeting on the implementation of his health-care law.  Obama began by reminding his staff that the Affordable Care Act would be one of his major legacies and its execution among the highest priorities of his second term, according to a Democrat familiar with the gathering. The session, which has been followed by regular presidential briefings, led to a two-track campaign to defend the measure against united Republican opposition declaring it a failure and to motivate uninsured Americans to sign up for health-care coverage.”

http://www.businessweek.com/news/2013-05-09/obama-sees-health-law-as-legacy-too-worthy-to-resist-in-new-push

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Wall Street hires Washington

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“The financial industry has long been a draw for former political operatives seeking a bigger paycheck and New York lifestyle. But with the big banks now under constant assault from reformers, regulators and some members of Congress, the flow of top talent from Washington to Wall Street has become a small flood. Goldman Sachs and Morgan Stanley will soon have top-level executives with the ear of the CEO who once occupied senior jobs in the White House and the U.S. Treasury. Other banks including Citigroup, Credit Suisse and JPMorgan Chase also have staffed up with former political and regulatory officials.”

http://www.politico.com/story/2013/05/wall-street-hires-washington-91115.html?hp=t1_3

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Obama Meets Privately with Energy Industry CEOs

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EPJ13

“President Barack Obama met behind closed doors with energy executives Wednesday in a session the White House said was arranged to discuss the industry’s response to Hurricane Sandy last year and preparations for this year’s hurricane season, reports Poltico’s Josh Gerstein.  The White House did not respond to queries from POLITICO about why the public and press were excluded from the discussion, which took place at the Energy Department.  Gerstein reports that during Obama’s first bid for the White House, the freshman senator complained about then-Vice President Dick Cheney’s private meetings with energy industry representatives.”

http://www.economicpolicyjournal.com/2013/05/obama-meets-privately-with-energy.html

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83-year-old nun gets 20 year sentence for ‘symbolic’ nuclear facility break-in

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“An 83-year-old nun who broke into a Tennessee depleted uranium storage facility in 2012 and splashed human blood on several surfaces, exposing a massive security hole at the nation’s only facility used to store radioactive conventional munitions, was convicted Wednesday and sentenced to a term of up to 20 years in prison. She and two other peace activists, 64-year-old Michael Walli and 56-year-old Greg Boertje-Obed, were convicted of ‘invasion of a nuclear facility’ in Oak Ridge, Tennessee, even though investigators admitted they did not get close to any actual nuclear material.”

http://www.rawstory.com/rs/2013/05/09/83-year-old-nun-gets-20-year-sentence-for-symbolic-nuclear-facility-break-in/

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U.S. Navy Petty Officer arrested in California for pimping 17-year-old girl

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“A Navy Petty Officer stationed in Lemoore, California is charged with sexually assaulting a 17-year-old girl and forcing her to have sex with multiple men. A Porterville Police Department spokesperson told the Bee that Benavidez met the teenager on a social networking site and, knowing that she was underage, traveled to Porterville, California to have sex with her. He made a second visit for similar purposes and on a third, forced the girl to have sex with a second man. Benavidez later transported the girl to his home in Lemoore where she was forced to perform sexual acts with multiple men. Benavidez reportedly filmed and distributed via the Internet.”

http://www.rawstory.com/rs/2013/05/09/police-california-navy-officer-arrested-for-pimping-17-year-old-girl/

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New York City considers allowing non-citizens to vote in local elections

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“New York City could be the first city in the U.S. to grant non-citizens the right to vote in municipal elections. According to Talking Points Memo, a measure currently before the New York City Council would allow qualifying non-citizens to vote in certain local elections.  ‘This bill violates the State constitution and the administration does not support it,’ said spokesperson Evelyn Erskine. The New York Daily News said that the constitution only grants the New York State Legislature the authority to confer voting rights to state residents.”

http://www.rawstory.com/rs/2013/05/09/new-york-city-considers-allowing-non-citizens-to-vote-in-local-elections/

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