THIS COULD BE YOUR LAST CHANCE TO EVER HEAR JEWISH MUSIC AGAIN! UOJ INVESTIGATORS HAVE UNCOVERED A SERIOUS PLOT --- THE VAAD L'MISHMERET KEDUSHAT HA'AZNAYIM - Y'DAYIM - ANAYIM - RAGLAYIM - SHINAYIM - NIKAVIM - NIKAVIM - CHALLULIM - CHALLULIM --- LIFNEI BAIS KISEI K'VODECHA --- ARE IN TALKS WITH THE ASKANIM FROM THE GAMBINO AND GOTTI FAMILIES TO ASSIST IN ELIMINATING ALL THREATS!
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36 comments:
AVI SHAFRAN LIES AGAIN:
An article that appears in the current issue (September 12) of the New York Jewish Week contains the following sentence, referring to bills aimed at preventing child abuse in Jewish schools.
“Agudath Israel, an umbrella group of ultra-traditional Orthodox organizations, is opposed to both the mandated reporting and finger printing, and background check legislation.”
An official spokesman for the Agudath Israel Of America Rabbi Avi Shafran told this past Friday in late afternoon exclusively to VIN news after we inquired about it : “The sentence is false” in fact In a memorandum dated June 20, 2006, Agudath Israel representatives expressed “strong support” for legislation allowing nonpublic schools to fingerprint prospective employees for the purpose of conducting mandated background checks. said Rabbi Shafran.
“The memo also states clearly that Agudath Israel does not oppose mandatory reporting”. “Agudath Israel took no position on a more recent bill would have made fingerprinting of prospective nonpublic school employees mandatory.” said Rabbi shafran.
According to the Jewish Week, Legislation requiring fingerprinting and background checks for prospective non-public school faculty was defeated in the Assembly last year but reintroduced this year by Republican Senate Majority Leader Dean Skelos. The legislation does not, however, have the support of Assembly Speaker Sheldon Silver (D-Lower East Side).
HERE IS WHAT DAVID ZWEIBEL SAID IN 2006:
This would be an “unconstitutional” law, said David Zwiebel, the Agudah’s executive vice president for government and public affairs. The group is working behind the scenes in Albany to defeat it.
“It is a sensitive issue now especially with some of the attention that’s been focused on allegations within our own community,” he said. “The last thing we want to be seen as is obstructing whatever legitimate inquiries may be made among our own rabbinate.
“At the same time,” said Zwiebel, ”it would be unfortunate if the stories that have made their way into the papers and TV programs were to cause the kind of overreaction that this represents by perpetuating the notion that clergy, of all people, are more suspect than any other profession or group in society.”
Yehudah Oratz from Eshkol is not the Yehuda ARYEH Oratz who is an alleged molester.
Eshkol doesn't exist anymore and when Jack Abramoff finished using everyone, they didn't get paid. So why is that Yehuda Oratz praising Jack for selflessness?
http://en.wikipedia.org/wiki/Eshkol_Academy
Eshkol Academy was an all-boys Orthodox Jewish day school in Maryland that existed from fall 2002 to 2004. Its name comes from Ish Shekol Bo Hebrew for "well-rounded man" and Eshkol Hebrew for cluster of grapes. In 2002 Eshkol Academy opened at a Christian community center facility in Montgomery County; in 2003 it moved to an office park in Columbia, Maryland. Its enrollment of about 100 included both local students and students from Boston, Baltimore, Montreal, and other cities.
The school was founded by Jack Abramoff and funded through his Capital Athletic Foundation. He sent two of his three sons to the school. In all, about $5 million of Capital Athletic Foundation's money was directed to the Eshkol Academy operations. The dean was Rabbi David Lapin, brother of Toward Tradition's Rabbi Daniel Lapin.
According to emails revealed during the US Senate hearings into the Abramoff-Reed Indian Gambling Scandal, David Lapin was paid $20,000 a month, through Abramoff's Capital Athletic Foundation. Tax records show that Lapin received a total of $60,529 in 2002. The Eshkol Academy closed in 2004 after questions were raised in the press about Abramoff's financial dealings with Indian tribes.
The filings of the Capital Athletic Foundation show that Eshkol Academy received the lion's share of its contributions: at least $50,000 in 2001, $1,857,704 in 2002, and $2,366,512 in 2003. In addition, CAF purchased for the school's use a van ($26,060), thermal imager ($18,057), and Torah ($17,000). Eshkol purchases included two Zamboni HDs, for a planned but never purchased hockey rink for the school.
Furthermore Abramoff established the organization Beis Avrohom Chaim as, according to the 2003 CAF tax return, "a religious organization" that "provides religious services for the congregation and housing for the Eshkol Academy student athletes." In fact, a number of students were housed there. It received $251,242 in 2003 from CAF and purchased a house near to Abramoff's Silver Spring residence to house students from outside the area. It was occupied by students and the school's athletic director/dorm counselor. Beis Avrohom Chaim was incorporated in June 2003 under Maryland law as a religious corporation. The trustees were Jack Abramoff and his wife; Shana Tesler, a former "Team Abramoff" Greenberg Traurig employee; and her husband Samuel Hook.
In 2004, thirteen former Eshkol employees sued the Academy, demanding nearly $150,000 in back salary. The teachers' complaint claims that the Capital Athletic Foundation "was used to launder funds from the tribes to Eshkol."
External links
How lobbyist's troubles felled Columbia school, Baltimore Sun, May 2005
Foundation's Funds Diverted From Mission, Washington Post, Sept 2004
Eshkol Academy Home Page via archive.org, from July 18, 2004
http://www.forward.com/campaignconfidential/archives/002395.php
Capital Athletic Foundation 990 forms
As the ex-shvogger of Yehuda Aryeh Oratz and a member of the extended Pinter clan, I can tell you that Oratz is not an "alleged" offender but a convicted one. Look up the NJ registry under Lakewood zip code 08701.
Anyone know what he does these days?
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Dear UOJ,
I have very importatnt information regarding the developing saga in Ramat Bet Shemesh.
Toras Eliyahu is telling parents that the police have investigated and cleared Kagan.
I spoke with the police on Thursday.
THEY HAVE NOT EVEN QUESTIONED HIM AS YET!
Toras Eliyahu is lying to protect themselves.
They have received more complaints including one possible victim from Kagan's first stint at Toras Eliyahu.
Parents should heed the warning and realize that their children are under the watch of an alleged molester.
The Rabbonim here continue to remain silent.
There is anothe interesting twist:
Parents of his old school Yishrei Lev had been contacted by a self appointed rep of the school.
This man, Mendy Newman, was asking the parents if they would allow him to come back into the school to finish the year. he obviously thought that Kagan was innocent.
Now Mendy Newman is running for Bet Shemesh city council for the TOV party.
So an enabler of molesters might even have political power!
Call the head of the TOV party, Mr. Elie Friedman (in Israel 0774401815) and let him know who he has chosen to run with.
Tell him you won't support TOV if they support an enabler!
Let's ban together to support our children.
Why does Vicky Polin write on Awareness Center that Yehuda Arye Oratz has lived in Marietta, Georgia? Is that true? There are no frum Jews there except for maybe a Chabad shliach.
As someone who "lusted in my heart", I can sympathyze with Oratz.
It is hard to believe that Sheldon Silver would have been able to prevent Pasik's mandatory fingerprinting bill (for which the support was virtually unanimous) if the official orthodox Jewish community was behind the bill.
The guy singing about rabbi pedophiles on this YouTube clip sounds like an am ha'aretz or arab (even jackie mason sounds more genuine), pity, couldn't somebody with a better nusach sing, is this an arab plot or what?
Pain in RBS has left a new comment on your post "I AGREE WITH THE ALZHEIMERS GEDOILIM THAT THE INTE...":
Anon,
The child has been questioned. I should know. I am his father.
The police are quite invloved.
Many of the other children have been questioned as well.
They continue to gather evidence from current and possible past victims.
So, Mr. or Mrs. "Know It All", what if...
A child molester is still allowed to prey on children?
That is the only what if that should concern you.
I hope that you and your family never have to live through what we are now.
What if...
What is the phone number of Meir Silberstein, cheif Rav of Ger??
UOJ: a useful feature for you to have is a link on the side of your page with a list of issues and the names/numbers/email addresses of the the ppl to contact about those issues.
Please create this feature, otherwise the contact info gets lost in the comments -especially when new posts go up. keep on trucking
Wow way to use out enemies' content against ourselves. I rarely people of other backgrounds post such self-hating material about their own people.
What happened after Nov 2007? said...
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3:01 AM, September 14, 2008
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It seems you have a short memory, for that was right after "matt under the rug solomon"s aguda F**k fest
I sent an urgent email from Israel to UOJ at a_unorthodoxjew@yahoo.com. If this is a current address, fine. If not, please email magenafti@yahoo.com ASAP. Thanks.
Hey taxpayers, want to bail out the insurance industry too? All someone has to do is ask for a free lunch and Treasury Secretary Hank Paulson goes running.
http://www.bloomberg.com/apps/news?pid=20601103&refer=us&sid=aQ6x1RA0dxpg
Hurricane Ike's Toll in Texas May Cost Insurers $18 Billion
UOJ ridiculed me for keeping money in my mattress.
Who has the last laugh now?
http://www.nytimes.com/2008/09/10/business/businessspecial3/10cash.html
September 10, 2008
Where to Keep Cash When No Investment Seems Safe
By ERIC DASH
CASH used to be the most boring of assets. But not this year.
UOJ told us we're a bunch of putzes who should take a hike.
http://www.nytimes.com/2008/09/15/business/15aig.html
September 15, 2008
Rush Is On to Prevent A.I.G. From Failing
By GRETCHEN MORGENSON and MARY WILLIAMS WALSH
The American International Group, the insurance company, is planning a major reorganization and a sale of its aircraft leasing business and other units to stabilize its finances, a person briefed on the company’s strategy said on Sunday.
A.I.G. became one of the focuses at an emergency gathering of Wall Street executives over the weekend, and was trying to arrange a capital infusion in the face of possible credit downgrades.
It was unclear whether A.I.G. would succeed in its capital search, but a person briefed on the discussions said it was seeking more than $40 billion even as it tried to sell assets to shore up its financial footing. Among the businesses likely to be sold is A.I.G.’s aircraft leasing business, the International Lease Finance Corporation. Founded in 1973, the business has nearly 1,000 planes in its fleet.
Investors, afraid that A.I.G. would have to absorb further write-downs in its already damaged mortgage securities and collateralized debt obligations, have driven down the company’s shares in recent days. The stock closed Friday at $12.14 a share, a decline of 46 percent for the week.
Several private equity firms were at A.I.G.’s headquarters in downtown Manhattan on Sunday, and may inject billions of dollars in capital into the firm, a person briefed on the matter said.
http://www.nytimes.com/2008/09/14/business/14lehman.html
Unable to find a savior, the troubled investment bank Lehman Brothers appeared headed toward bankruptcy on Sunday, in what would be one of the biggest failures in Wall Street history.
http://www.forbes.com/feeds/ap/2008/09/12/ap5419185.html
Upcoming business events
WEDNESDAY, Sept. 17
WAUKON, Iowa - Initial appearance for Agriprocessors owner and four top managers facing child labor law violations.
FRIDAY, Sept. 19
PHILADELPHIA - Edward Anderton, who along with his former girlfriend Jocelyn Kirsch pleaded guilty to identity theft charges for funding a lavish, jet-setting lifestyle with stolen credit cards and forged identities, will be sentenced in federal court.
Black September and more red ink tomorrow!
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NEW YORK - As the outlook for Lehman Brothers dimmed Sunday, U.S. and foreign banks were pressed to create a plan aimed at inoculating the global financial system against the investment bank's failure, a top investment banking official said.
Banks were in tense talks to create a pool of money worth up to $100 billion to lend troubled financial companies, the official said on condition of anonymity because the discussions were ongoing. And officials at the U.S. Treasury and the Federal Reserve were expected to announce they are prepared to be more generous in the Fed's emergency lending program for commercial and investment banks.
The plan comes as top government officials and Wall Street executives held marathon, but so far fruitless, meetings to save Lehman Brothers, and amid signs that the 158-year-old investment bank might be forced to seek bankruptcy protection and liquidate. The company's shares have plunged 95 percent in the past year over worries that it does not have enough money to cover losses from its massive real estate holdings.
The official also said the Treasury Department and the Fed were pushing Bank of America Corp. to buy Merrill Lynch & Co. On Friday, Merrill Lynch's shares fell as investors fretted it might be the next investment bank to come under pressure from its portfolio of risky mortgage-backed securities.
Expectations that the 158-year-old Lehman would survive dimmed Sunday afternoon after Barclays PLC withdrew its bid to buy the investment bank. Barclays and Bank of America were considered front-runners to buy Lehman, which is foundering under the weight of $60 billion in soured real estate holdings.
The Lehman talks originally were aimed at selling the investment bank in whole or in part. The deal was tripping on the potential buyers' insistence that they receive the same kind of help that Bear Stearns Cos. got last March when JPMorgan Chase & Co. bought the securities firm with a $29 billion Fed-backed loan.
Treasury Secretary Henry Paulson has said the government will not help close a Lehman deal, and it was clear late Sunday he was not budging.
Lehman declined to comment on the talks.
If no deal were reached, it raised the specter of a bankruptcy and liquidation of the investment bank, which in turn could have a tumultuous effect on world markets. Late Sunday, Dow Jones industrial average futures were down 276 points, or 2.4 percent, at 11,182.
Traders and bankers across Wall Street came into the office Sunday to prepare their departments for what is expected to be a brutal day in the market. JPMorgan employees who work trading desks were asked to come in at 7 a.m. EDT, way before the market's 9:30 a.m. open.
An employee at Lehman Brothers, who spoke on condition of anonymity, said employees were briefed of the situation earlier Sunday afternoon via conference call. Lehman executives did not explicitly say the company was filing for bankruptcy protection, but essentially confirmed the bank was planning to liquidate its assets.
There were other signs that Lehman was moving closer to a bankruptcy filing, with several reports that it has hired Weil, Gotshal & Manges, the law firm that handled the collapse of investment firm Drexel Burnham Lambert in 1990.
Moreover, there was also an emergency trading session held at the International Swaps and Derivatives Association to "reduce risk associated with a potential Lehman Brothers Holdings Inc. bankruptcy." The ISDA, which arranges trades for derivatives, said it was allowing customers to make trades and unwind positions linked to Lehman — but that those trades would be voided if no filing occurred before midnight.
Paulson, Timothy Geithner, president of the New York Fed, and Securities and Exchange Commission Chairman Christopher Cox were among those taking part in the Lehman meetings. Federal Reserve Chairman Ben Bernanke is actively engaged in the deliberations but wasn't in attendance.
Paulson's tough bargaining stance received support from outside observers Sunday, who argued that the government had no choice but to draw a line in the sand.
"If Treasury put money into the Lehman deal, then going forward no deal would get done without Treasury help," said Mark Zandi, chief economist at Moody's Economy.com. "Every potential buyer would wait until Treasury stepped in and that would mean Treasury would be on the hook for a lot more bailouts."
The current situation is different from Bear Stearns' situation six months ago.
In Lehman's case, financial markets have been aware of the company's problems for a much longer period and have had time to prepare. Investment banks also now have the ability to obtain emergency loans directly from the Fed, a crucial support that they did not have back in March when Bear Stearns was rescued.
Bankers and government officials were also trying to tackle a broader agenda that includes problems at American International Group Inc. and Washington Mutual Inc., said the investment bank officials, who were briefed on the talks.
AIG, the world's largest insurer, and WaMu, the nation's biggest savings bank, have taken steep losses during the past year from risky investments. There were reports that AIG plans to disclose a restructuring by early Monday that's likely to include the disposal of major assets including its aircraft-leasing business and other holdings.
Lehman put itself on the block earlier last week. Bad bets on real-estate holdings — which have factored into bank failures and caused other financial companies to founder — have thrust the firm in peril. It has been dogged by growing doubts about whether other financial institutions would continue to do business with it.
Richard S. Fuld, Lehman's longtime CEO, pitched a plan to shareholders Wednesday that would spin off Lehman's soured real estate holdings into a separately traded company. He would then raise cash by selling a majority stake in the company's unit that manages money for people and institutions. That division includes asset manager Neuberger Berman.
To the parents in Torat Eliyahu who are e-mailing me:
GO TO THE POLICE AND CONTACT TAMAR ROTEM! TAKE YOUR KIDS OUT OF THIS SCHOOL NOT ONLY OUT OF AKIVA KAGAN'S CLASS!
IF YOU DON'T GIVE A DAMN ABOUT YOUR KIDS - WHO WILL?
I DON'T HAVE THE TIME TO RESPOND TO EVERY E-MAIL - "UOJ WHAT SHOULD I DO?"! USE YOUR BRAINS OR LOSE MY E-MAIL ADDRESS!
Lehman is history - BOA was their last hope!
----------------------------
AP
Bank of America agrees to buy Merrill, report says
Sunday September 14, 9:36 pm ET
By Madlen Read and Tim Paradis, AP Business Writer
Bank of America agrees to buy Merrill Lynch for about $44 billion, Wall Street Journal says
NEW YORK (AP) -- Bank of America Corp. has agreed to buy Merrill Lynch & Co. for about $44 billion, or around $29 a share, according to The Wall Street Journal. A deal between the two big financial companies would lift the uncertainty that has shrouded Merrill Lynch since the start of the credit crisis a year ago.
A Yiddishe Kup by Ben Bernanke: INVESTMENT BANKERS CAN NOW PUT UP THEIR WIVES AND UNDERWEAR AS COLLATERAL FOR NEW LOANS!
---------------------------------
By MARTIN CRUTSINGER, AP Economics Writer
8 minutes ago
WASHINGTON - The Federal Reserve announced late Sunday several steps to cope with the worst credit crisis in decades, including broadening the types of assets that investment banks can put up to get emergency loans from the Fed.
The action came as U.S. and foreign commercial banks were hashing out a plan to inoculate the global financial system against the possible failure of Lehman Brothers.
Federal Reserve Chairman Ben Bernanke announced the actions in a statement, saying they were being taken after a weekend of discussions with officials from the Treasury Department and the Securities and Exchange Commission and top executives of financial firms.
Those talks were aimed at seeing whether another financial institution would be willing to take over venerable investment bank Lehman Brothers and failing that, how other institutions could pool resources to protect the global financial system.
Bernanke said the discussions had been aimed at identifying "potential market vulnerabilities in the wake of an unwinding of a major financial institution and to consider appropriate official sector and private sector responses."
"The steps we are announcing today, along with significant commitments from the private sector, are intended to mitigate the potential risks and disruptions to markets," Bernanke said.
We were evacuated from our building due to the flooding of the Chicago River. We are very proud to still have a fully stocked and always full coffee room. Im Ayn Coffee Ayn Torah.
If anyone would like to dedicate a coffee pot L’zecher Nishmas a loved one, please call the yeshiva. For a $500 donation we can guarantee a minyan sitting around your coffee pot. Tizku LeMitvos.
My tush is getting cold. Rabbi Horowitz just pulled back the rug on the Torah Umesorah sexual abuse guidelines, no one was supposed to know about.
While the overwhelming majority of interactions amongst staff and students fall well within the range of normal healthy relationships, certain behaviors are incompatible with the goals and standards of a yeshiva and Jewish upbringing and, therefore are always prohibited.
• Teacher/staff may not be alone with a child in a locked room or in any area the cannot be seen or observed by other faculty members or adults
• Teacher/staff must avoid contact with students that may be misconstrued as to be sexually motivated or physically abusive; such as: fondling, inappropriate touching or physical assault.
• Teachers/staff may never forbid any student from sharing any conversations or information with parents or administrators, nor instruct students to ‘keep secrets’ from their parents.
• Teachers/staff must refrain from any sexually immodest behavior or speech, especially from exhibiting sexual interest in students and from inappropriate jokes or innuendoes.
Protecting children and preventing abuse and maltreatment does not begin nor end with being suspect and reporting. Child abuse and maltreatment are real threats and must be addressed by all.
Efforts to prevent child abuse and maltreatment can only be effective when all concerned adults work together to improve the safety net within the community at large.
http://www.acorn-online.com/joomla15/index.php?option=com_content&view=article&id=8534:waccabuc-resident-arrested-for-witness-tampering&catid=19:lewisboro-news&Itemid=79
It’s almost a story out of a legal thriller: The “Rolls Royce of attorneys” has been arrested for witness tampering. High-profile criminal defense lawyer Robert Simels, a Waccabuc resident and member of the law firm Robert M. Simels P.C. , has been arraigned in federal court under allegations of witness tampering in a case in which he was representing an alleged drug kingpin. Mr. Simels, who was arrested on Wednesday, has been released on $3.5 million bail, according to papers filed with the U.S. District Court for the Eastern District of New York, based in Brooklyn.
The arrest warrant was issued Monday after about four months of investigation by the Drug Enforcement Administration and other law enforcement organizations. The investigation included recording several conversations between the informant, who had alerted authorities to the alleged conspiracy, and the lawyers.
According to the complaint, Mr. Simels had instructed the informant to testify that Mr. Khan was “somebody who builds homes ... that feeds homeless children,” and not a criminal. He had also told the informant that he wanted one witness “not to testify” and that he needed “to know every little detail of his life.”
A preliminary hearing in the case has been scheduled for Friday, Sept. 19, according to court records.
According to Mr. Simels' Web site, his individual and corporate clients have included former New York Jets players Ken O’Brien and Mark Gastineau, as well as Donald “Fat Country” Payden. Mr. Simels’ defense led to Mr. Payden being acquitted of operating a major criminal enterprise in New York City. The Payden case is known in legal circles “because it involved the first effort by the Department of Justice to compel the disclosure of attorneys’ fees,” an effort which Mr. Simels was successful in repelling, according to the Web site. It was during that case that a federal judge called Mr. Simels the “Rolls Royce of attorneys.” The Web site lists Mr. Simels’ acquittal rate in criminal cases, including racketeering, narcotics, tax evasion and securities, wire and mail fraud, at more than 90% since 1979.
Mr. Simels lists “devotion to work ethics” as one of his strengths as a lawyer, as well as “accessibility to my clients” and “innovative thinking.” He has practiced many areas of law, including professional ethics and disciplinary matters where he “represented many professionals, doctors and lawyers accused of misconduct, both in connection with criminal charges as well as in professional disciplinary hearings, according to his Web site. He also practices entertainment law, including publishing rights. One of his firm’s most well-known cases was the defense of Henry Hill of Goodfellas fame.
Mr. Simels served as special assistant attorney general for the New York State Special Prosecutor’s Office from 1974 to 1979, which investigated corruption by public officials in the New York City criminal justice system. According to his Web site, Mr. Simels was a lead prosecutor in that office, and “was instrumental in the successful prosecution of corruption cases in which members of the judiciary, New York City Police Department and organized crime were involved in corrupt activities.” These included going after organized crime figure James “Jimmy Nap” Napoli, a New York state supreme court justice and a city councilman.
He has been a guest commentator on many news broadcasts, including The Charlie Rose Show, 20/20, 60 Minutes, Hannity & Colmes and The O’Reilly Factor. He is also a member of many legal committees and associations, including the professional discipline committee, and was “named by NBC News as one of the ‘Best Defense Lawyers in New York,’” according to his Web site.
Agudah Flip Flops, behaves despicably
Agudas Yisroel was strongly against criminal background checks for school employees before they for were totaly for it.
Though I'm glad Agudas Yisroel saw the light, and changed its position, I object to the Stalin-like game the organization is playing with the facts. As TTC has pointed out to me, the Agudah is trying to deny history by employing useful dolts like the YeshivaWorldEditor to discredit anyone who remembers the truth about the past. Here's what happened (all via TTC):
April 2007 - Agudath Israel goes on the record opposing a plan to require permits for religious schools. The measures would have required the schools to "meet certain education standards among teachers, and conduct criminal background checks on their employees for the first time."
September 12, 2008 - As part of its coverage of the Twerski debacle, the Jewish Week reports that "Agudath Israel, an umbrella group of ultra-traditional Orthodox organizations, is opposed to both the mandated reporting and finger printing, and background check legislation."
September 14, 2008 - Avi Shafran (who famously punted on Kolko) enlists YeshivaWorldNews to issue a strident denial. (Of course, the lunatics who read that rag are pleased to hop on board, with a chorus of insults for the Jewish Week.)
Then I was for the sex offender registry before I was against it again.
Wall St. Crisis Shakes Israel
The financial woes of two major Wall Street firms and the shaky status of an American insurance giant threaten to shake the shekel in Israel.
These shmucks made it on to my site.
http://www.breitbart.com/article.php?id=080915063412.dgwo885y&show_article=1
This is exactly the problem -
The FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions.
------------------------------
Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act
Posted Sep 15, 2008 12:58pm EDT by Aaron Task
With the "financial storm of the century" hitting financial institutions, many Americans are worried about the safety of their bank deposits. While the FDIC insures individual accounts up to $100,000, the reaction to IndyMac's failure this summer -- lines outside retail branches -- shows Americans have limited faith in the Federal Deposit Insurance Corp., which guarantees individual accounts up to $100,000.
Such concerns are justified, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes there is already a "slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.
In addition, the recent spike in number of banks on the FDIC's "troubled list" is only through June, meaning even that inflated number understates the problem.
The intent here isn't to add to people's anxieties, but Roubini is one of the few market watchers to correctly predict the severity of this ongoing credit crisis. If nothing else, he says people with accounts exceeding $100,000 in value should spread their money - and the risk - among different firms.
just checking in to see how everyone is doing. just making sure we all are keeping the energy up. we got to keep this thing rolling. i know i sound like phil jackson, but we must work as a team to get the job done. lets go get em in the second half. long live the truth. ok, thats enough pep talk for now.
Aron Twerski swears Hank Paulson is an honorable man!
-----------------------------
Update: "The banking system is safe and sound," Treasury Secretary Hank Paulson declared at a mid-afternoon press conference Monday, seeking to ameliorate such concerns.
"Nothing is more important than the stability and orderliness of our financial markets [and] regulators remain vigilant," Paulson continued. "We're working through a difficult period in our financial markets right now as we work of some of the past excesses, but the American people can remain confident in the soundness and resilience of our financial system."
tjhats why after paulson spoke the market tanked another 200 points
on a seperate note the OU and aguda are getting bashed on VOs iz nies
lets keep it up
Rubashkin is conducting it's "own investigation" into the circumstances that led to the raid
Margo is "investigating" Kolko
Ron Torossian & 5W are "investigating" Juda Engelmayer
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/15/AR2008091501419.html?hpid=topnews
Rangel to Hire Forensic Accountant to Investigate His Finances
NJ Congressman Bob Menendez is a corrupt putz.
http://washingtontimes.com/news/2008/sep/15/crime-illegals-and-the-jobs-magnet/
Perhaps no political issue better illustrates how out of touch Washington is than illegal immigration. Polling data shows that Americans overwhelmingly support a tougher stance toward illegals, yet the message does not seem to have gotten through to Congress, where powerful Democratic lawmakers are preventing floor consideration of two major pieces of legislation. One is the SAVE Act, a bill to curb illegal immigration through stepped-up enforcement - in particular, more resources to enable federal, state and local authorities to arrest, detain and eventually remove illegals. The SAVE Act (H.R. 4088 ) is the number one legislative alternative to "comprehensive immigration reform" (i.e., mass amnesty).
House Speaker Nancy Pelosi has blocked the SAVE Act from coming to the floor for a vote, and it is likely dead for this year. Another bill, which would encourage businesses to use a state-of-the art system called E-Verify to find out whether a job applicant is in the United States legally, has been endorsed by both John McCain and Barack Obama. On July 31, the House voted 407-2 to continue the program. But the ACLU is strongly opposed to E-Verify, and Sen. Robert Menendez, an open-borders New Jersey Democrat, has blocked its passage in the Senate.
While Congress finds ways to avoid addressing the employment magnet that draws illegals into the United States, the American people continue to be victimized by criminals who unlawfully enter the country. The issue has become a large one in Colorado, where Francis Hernandez, an illegal alien, has been charged with manslaughter, vehicular homicide and leaving the scene of an accident in connection with a Sept. 4 accident in Aurora, Colo., a Denver suburb, that left three people dead, including 3-year-old Marten Kudlis, who was getting ice cream with his mother. Mr. Hernandez, a Guatemalan national, is accused of running a red light in a sport utility vehicle and crashing into a truck. Both vehicles went careening into an ice-cream shop, killing Marten and two women in the truck.
Neither federal nor Colorado officials have been able to satisfactorily explain how Mr. Hernandez was able to avoid deportation despite 16 arrests and at least three stints of incarceration in local jails for minor crimes, which included giving police officers an alias and lying about having a driver's license. Indeed, it is not clear whether he ever had a driver's license or a job, or who owned the Chevrolet Suburban that Mr. Hernandez allegedly crashed into the truck 11 days ago. But a bizarre series of occurrences enabled him to remain free despite his illegal status in the United States - even as he continued to be arrested (and in at least some cases, convicted) of traffic violations and minor crimes. On May 24, Denver police stopped and wrote Mr. Hernandez a summons for multiple offenses, which included driving without a valid license and proof of insurance. One week later, police cited him again for driving without a valid license and other violations.
Mr. Hernandez missed another court date and did not appear before a judge on the charges until he was arrested again on July 18, when police stopped him for not having a license plate on his car and smelled alcohol on his breath. Mr. Hernandez gave police an alias and attempted to flee. The Denver Post reported that when the defendant appeared before Denver County Circuit Court Judge Claudia Jordan, court records included some information about his prior traffic-related offenses but apparently omitted information about time Mr. Hernandez had spent in jail for crimes that included lying about having a driver's license. Mr. Hernandez pled guilty to one minor count, and Judge Jordan gave him until Dec. 17 to obtain a license to drive - telling him that if he did, the defendant would not have to serve jail time. He now faces up to 80 years in prison if convicted in the Sept. 4 incident.
Right now, Colorado politicians and federal Immigration and Customs Enforcement (ICE) are debating whether state and local officials notified ICE about Mr. Hernandez - as they should have. But regardless of who dropped the ball in the particular case, open-borders politicians like Mrs. Pelosi and Mr. Menendez, who have made this country a welcoming place for illegals, have to shoulder some of the blame for the fact that aliens like Francis Hernandez continue to walk the streets.
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