Monthly Archives: April 2014

Big Hedge Funds Roll Dice on Puerto Rico Debt

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“Several large hedge funds doubled down on Puerto Rico in last month’s giant bond sale despite the U.S. territory’s financial struggles, according to confidential documents reviewed by The Wall Street Journal.  Hedge funds and other nontraditional buyers of municipal bonds bought around 70% of the deal when it was offered, according to calculations based on the document—an atypically high level for municipal-bond offerings. Many investors said they were drawn by the high yields and discounted price, though market participants said another major draw for buyers was the prospect of boosting the value of their existing investments in the island.”

http://online.wsj.com/news/articles/SB10001424052702303873604579491992862363698

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Puerto Rico Boxing Legend Blew $63 Million On Gov’t Bonds

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“Felix Trinidad, the former boxing great who held on to the welterweight championship for nearly seven years and is considered a godlike figure in his native Puerto Rico, finds himself broke after investing in Puerto Rico government bonds — investments he claims were made without his knowledge by a close friend who Trinidad hired to be his top financial advisor.  When Felix ‘Tito’ Trinidad was active in the ring, where he earned an estimated $90 million in his 15-year, 45-fight career, the Puerto Rico bond market was booming, a reflection of the island’s thriving economy throughout the 1990s and 2000s. But the free-standing United States territory piled up huge amounts of debt.”

http://www.inquisitr.com/1210168/felix-trinidad-broke-puerto-rico-boxing-legend-accuses-aide-of-blowing-63-million/

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Perception vs. Experience: Misconceptions about Puerto Rico

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“Puerto Rico is really a unique situation for Americans, because it is part of the US—there’s no expatriation nor renunciation involved in coming here. For some people, this is a negative. Some people have objected and said ‘I’m not really getting away from the US.’ And that’s true; there’s no denying that—if you move to Puerto Rico, you’re still in the US. But this is a positive for people like me who need to stay in the US for family or other reasons. In my own personal case, that was definitely a factor because my wife is in the green card process, and she needs to stay in the US.  Maybe this matters less to Canadians or Brits or others who can just move to lower their taxes.”

http://www.internationalman.com/articles/perception-vs.-experience-debunking-misconceptions-about-puerto-rico

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John Paulson: Puerto Rico Is Now ‘Singapore of the Caribbean’

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“Billionaire hedge-fund managerJohn Paulson said today that Puerto Rico’s economy is at the beginning of a turnaround and predicted the island will become the Singapore of the Caribbean.  Paulson, speaking today at the 2014 Puerto Rico Investment Summit in San Juan, a conference designed to promote the territory and attract investors, said he’s building a home in the commonwealth. The hedge-fund manager, who last year considered relocating to Puerto Rico to take advantage of new tax laws, said opportunities to buy real estate in the region won’t last much longer, and he’s looking to purchase sites that can be developed to serve people he expects to move here.”

http://www.bloomberg.com/news/2014-04-24/john-paulson-says-puerto-rico-to-become-singapore-of-caribbean.html

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Japanese cult fugitive given runaround as he tried to surrender [2012]

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“Despite being on the nationwide wanted list since 1995, it took Hirata several attempts before he finally succeeded in turning himself in.  Hirata could not find his way to the reception at the Osaki police station and gave up. To get to the second-floor reception, one has to use an elevator.  He then used a pay phone to call a toll-free number set up by the National Police Agency to solicit tips on former cult members on the nationwide wanted list. He called 10 times, but it was busy each time.  Hirata arrived at MPD headquarters at 11:35 p.m., but was turned away by a riot police officer on guard in front of the building. The officer thought it was a prank when Hirata identified himself.”

http://ajw.asahi.com/article/behind_news/social_affairs/AJ201201040008

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Police exercise left explosives in customer’s airport rental car

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“Would you like a bomb with that?  One driver got the fright of his life when it was revealed he had been driving a rental car hidden with explosives.  A routine police training exercise at Ted Stevens Anchorage International Airport in Alaska went horribly wrong when the rental company accidentally allowed the car to be rented out.  The chief of Airport Police and Fire at the airport, Jesse Davis, said that, ‘it took a few hours for police to track down the car and recover the explosives, which had been placed on the vehicle for a routine K-9 training.’  Routine procedure requires an officer to keep an eye on the car with the explosives at all times however when this officer turned his back the car was gone.”

http://www.news.com.au/travel/travel-updates/a-rental-car-at-anchorage-airport-alaska-was-rented-out-with-explosives/story-fnizu68q-1226895094857

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Veteran killed by cop attempting to take his gun for no reason

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“Schaefer called 911 about 7:20 a.m. to report that he had shot and killed a pit bull that attacked him, Police Chief Art Acevedo said at a news conference that morning.  Officers asked dispatchers to call Schaefer back and tell him to put his gun in the house before officers arrived. He refused, Acevedo said, and he refused again when officer Jonathan Whitted got to the residence and asked Schaefer to hand over the pistol he saw tucked in his waistband.  When Whitted went to take the gun, Schaefer pulled it out and aimed it at the officer, Acevedo said. Whitted then shot and killed Schaefer.  Two neighbors questioned whether it was wrong for Schaefer to hold onto his gun on his own property.”

http://www.statesman.com/news/news/local/family-mourns-man-killed-in-officer-involved-shoot/nWfbD/

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Call of Duty loser calls in SWAT team hoax on kid who beat him

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“They arrived with guns drawn and ready for war — only to find out the call to cops was an act of revenge by a gamer whom the teen had just beaten in an online Call of Duty battle.  The disgruntled gamer had just been eliminated by Castillo and gave police the teen’s home address in a dangerous game called ‘Swatting,’ and the authorities went into full emergency mode.  In the two-hour standoff, authorities scrambled choppers over the house and rushed in more than 60 officers with weapons drawn — including Nassau County’s special operations unit.  Cops tried for 20 minutes to call Rafael and get him to come out, but he had headphones on and was still glued to his video game console.”

http://nypost.com/2014/04/22/call-of-duty-loser-calls-in-swat-team-hoax-on-kid-who-beat-him/

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Could They Really Take Away Your Citizenship?

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“A law proposed in 2010 would revoke the citizenship of individuals – including native-born Americans – deemed to be ‘engaging in, or purposefully or materially supporting, hostilities’ against the United States.  This would spare the Uncle Sam the embarrassment of assassinating his own citizens, although this is now established US policy. The Obama administration admits to killing at least four US citizens in drone strikes, including a 16-year-old boy.  In addition, hundreds of dual nationals traveling outside the US have been stripped of their US passports and have no way to re-enter the US. Under the Obama doctrine, they could be targeted for assassination anytime.”

http://www.nestmann.com/could-they-really-take-away-your-citizenship

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The Real Reason to Welcome Secession

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“Borders change over time. And humans, when given the opportunity, tend to choose to live independently in smaller and more internally cohesive groups. That’s a big reason why there are more than 200 countries in existence today, versus around 70 in 1945.  And the process continues.  What makes the residents of places like Catalonia, Scotland, and Texas so anxious to separate themselves from their respective national governments? Humans have a fundamental drive to seek personal autonomy, and that drive carries over into our social and political lives. And, of course, smaller governments are more accountable than larger ones.”

http://www.nestmann.com/the-real-reason-to-welcome-secession

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