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Saturday, December 31, 2011
Swiss league punishes FC Sion to avoid FIFA ban
By FRANK JORDANS
Associated Press
Associated Press Sports
updated 11:25 a.m. ET Dec. 30, 2011
GENEVA (AP) -The Swiss Football Association moved to avoid suspension from world football Friday by handing FC Sion a 36-point penalty in a long-running dispute over the club's fielding of ineligible players.
The Swiss FA said its decision to penalize Sion three points for every league and cup game in which ineligible players were fielded was a response to FIFA's threat to suspend all Swiss teams, including FC Basel and the national side, from world football.
Basel is due to meet Bayern Munich in the Champions League round of 16 on Feb. 22, a rare foray into the upper echelons of European football for a club from Switzerland. Had Basel been thrown out, Manchester United, the club it beat to second place in Group C, may have been reinstated.
Sion vowed to fight the decision, which put it bottom of the league with minus five points. The club accused the Swiss FA of a "cowardly act," saying it had caved to pressure from FIFA and was acting against its own statutes.
Sion already filed a criminal complaint Thursday against members of FIFA's executive committee accusing them of blackmail and a breach of basic legal rules by threatening to suspend Switzerland.
FIFA had given the Swiss Football Association until Jan. 13, 2012, to discipline Sion or face suspension over the saga that began in 2009, when world football's governing body imposed a one-year transfer ban on the club for illegally signing goalkeeper Essam El-Hadary.
Sion, which ignored the transfer embargo and signed six players in the offseason, has doggedly contested FIFA's ruling in the courts despite facing increasingly harsh penalties from football authorities.
"The Swiss Football Association has today demanded from FIFA confirmation that the suspension will not now come into effect," the Swiss FA said in a statement. "FIFA's answer is still being awaited."
FIFA said in a statement that it took note of the Swiss league's action and would consider it at an Emergency Committee meeting in early January.
The penalty for Sion falls short of FIFA's demand to give the club 3-0 losses, as this would automatically have resulted in opposing sides gaining the points deducted from Sion, the league said.
Sion will also be allowed to continue in the country's cup competition.
The points deduction may be challenged at the Court of Arbitration for Sport.
? 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Boston Celtics All-Star forward Kevin Garnett is about to become a small shareholder in the American-owned Roma football club.
Off-field woes
Football in 2011 was dominated by events off the field rather than on it.
Source: http://nbcsports.msnbc.com/id/45824406/ns/sports-soccer/
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Friday, December 30, 2011
Canadian skydiver dies in California accident
A Canadian skydiving instructor, described as "passionate" about the sport by a former employer, is dead after attempting a risky landing in California, the Riverside Sheriff's office said Wednesday.
Mike Ungar, 32, hit the ground hard just after 5 p.m. ET Tuesday in Perris, California, and died at the scene, according to a news release from the sheriff's office.
"He just loved to skydive. He would do anything to skydive. He would get up at 6 o'clock in the morning to go up, hoping there'd be someone there to jump with," said Tim Grech, who employed Ungar during the 2010 and 2011 seasons at Niagara Skydive in Dunnville, Ont., 55 kilometres south of Hamilton.
Ungar was a fun man and a competent, experienced skydiver, said Grech, who met him five years ago.
"That's why I hired him to do tandem (jumps)," Grech said.
Ungar was originally from Aylmer, Ont., about 190 kilometres southwest of Toronto.
He moved to California to teach at Skydive Hollister after Niagara Skydive's 2011 season ended in October, Grech said.
On Tuesday, Ungar landed in a pond on the property of the Perris Valley Skydiving facility, according to the sheriff's office. Friends pulled him out of the pond and medical personnel performed CPR, but he died at the scene.
Ungar's parachute was open and his equipment was all functioning properly, said Dan Brodsky-Chenfeld, manager of Perris Valley Skydiving.
While this is the fifth fatality at Perris Valley Skydiving this year and the sixth in 15 months, Brodsky-Chenfeld said the drop zone is as safe as it possibly can be.
"Obviously, we take it very to heart," Brodsky-Chenfeld said of safety concerns. "The (United States Parachute Association) has their guidelines for safety, and we have theirs plus additional. There's only so much that you can do."
Perris Valley is a busy drop zone, said Jim Crouch, director of safety and training for the United States Parachute Association. Based on the numbers, he said, there are bound to be more deaths at that location.
"I can't think of the last time they've had a year with many fatalities, so it is unusual, but I do know they're working very hard to keep everyone as safe as possible," Crouch said.
At the time of his death, Ungar had been attempting a landing manoeuvre called "swooping," Brodsky-Chenfeld said.
A swooping manoeuvre is executed about 150 to 210 metres above the ground, Crouch said.
A skydiver accelerates by parachuting into a steep turn, moving at a speed of about 97 to 113 kilometres an hour towards the ground, Crouch said. The speed lifts the parachute as it gets closer to the ground, allowing it to fly level with the ground like an airplane when it lands.
"(Ungar) had aspirations to compete in swooping competitions," Grech said. "It is the discipline that seems to be getting the most attention in skydiving right now because it is very spectator-friendly."
But it can be risky if the skydiver misjudges the landing, Crouch said.
"People occasionally make errors with this type of landing and it results in a fatality or an injury," he said. "In the past 13 years, it's ranged anywhere from seven per year to one per year of people who have been killed attempting this type of a landing."
In 2010, 21 people in the United States died while skydiving, according to the United States Parachute Association. Out of the estimated three million jumps in the U.S. that year, there were 1,308 injuries reported.
Skydiving will never be completely safe, Crouch said, but statistically, the number of deaths is low and safety has improved over the years.
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Source: http://feeds.canada.com/~r/canwest/F75/~3/0UlJlPsDW_c/story.html
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Brain's connective cells are much more than glue: Glia cells also regulate learning and memory
ScienceDaily (Dec. 29, 2011) ? Glia cells, named for the Greek word for "glue," hold the brain's neurons together and protect the cells that determine our thoughts and behaviors, but scientists have long puzzled over their prominence in the activities of the brain dedicated to learning and memory. Now Tel Aviv University researchers say that glia cells are central to the brain's plasticity -- how the brain adapts, learns, and stores information.
According to Ph.D. student Maurizio De Pitt? of TAU's Schools of Physics and Astronomy and Electrical Engineering, glia cells do much more than hold the brain together. A mechanism within the glia cells also sorts information for learning purposes, De Pitt? says. "Glia cells are like the brain's supervisors. By regulating the synapses, they control the transfer of information between neurons, affecting how the brain processes information and learns."
De Pitt?'s research, led by his TAU supervisor Prof. Eshel Ben-Jacob, along with Vladislav Volman of The Salk Institute and the University of California at San Diego and Hugues Berry of the Universit? de Lyon in France, has developed the first computer model that incorporates the influence of glia cells on synaptic information transfer. Detailed in the journal PLoS Computational Biology, the model can also be implemented in technologies based on brain networks such as microchips and computer software, Prof. Ben-Jacob says, and aid in research on brain disorders such as Alzheimer's disease and epilepsy.
Regulating the brain's "social network"
The brain is constituted of two main types of cells: neurons and glia. Neurons fire off signals that dictate how we think and behave, using synapses to pass along the message from one neuron to another, explains De Pitt?. Scientists theorize that memory and learning are dictated by synaptic activity because they are "plastic," with the ability to adapt to different stimuli.
But Ben-Jacob and colleagues suspected that glia cells were even more central to how the brain works. Glia cells are abundant in the brain's hippocampus and the cortex, the two parts of the brain that have the most control over the brain's ability to process information, learn and memorize. In fact, for every neuron cell, there are two to five glia cells. Taking into account previous experimental data, the researchers were able to build a model that could resolve the puzzle.
The brain is like a social network, says Prof. Ben-Jacob. Messages may originate with the neurons, which use the synapses as their delivery system, but the glia serve as an overall moderator, regulating which messages are sent on and when. These cells can either prompt the transfer of information, or slow activity if the synapses are becoming overactive. This makes the glia cells the guardians of our learning and memory processes, he notes, orchestrating the transmission of information for optimal brain function.
New brain-inspired technologies and therapies
The team's findings could have important implications for a number of brain disorders. Almost all neurodegenerative diseases are glia-related pathologies, Prof. Ben-Jacob notes. In epileptic seizures, for example, the neurons' activity at one brain location propagates and overtakes the normal activity at other locations. This can happen when the glia cells fail to properly regulate synaptic transmission. Alternatively, when brain activity is low, glia cells boost transmissions of information, keeping the connections between neurons "alive."
The model provides a "new view" of how the brain functions. While the study was in press, two experimental works appeared that supported the model's predictions. "A growing number of scientists are starting to recognize the fact that you need the glia to perform tasks that neurons alone can't accomplish in an efficient way," says De Pitt?. The model will provide a new tool to begin revising the theories of computational neuroscience and lead to more realistic brain-inspired algorithms and microchips, which are designed to mimic neuronal networks.
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The above story is reprinted from materials provided by American Friends of Tel Aviv University.
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Journal Reference:
- Maurizio De Pitt?, Vladislav Volman, Hugues Berry, Eshel Ben-Jacob. A Tale of Two Stories: Astrocyte Regulation of Synaptic Depression and Facilitation. PLoS Computational Biology, 2011; 7 (12): e1002293 DOI: 10.1371/journal.pcbi.1002293
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Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.
Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/F4D_sp-4-Hs/111229131354.htm
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Thursday, December 29, 2011
It's 2012--It's Just Absurd That We're Still Addicted ... - Business Insider
In case you missed it, Iran just vowed to close the Strait of Hormuz if the world imposes tighter sanctions on its authoritarian regime.
Why does that matter?
Because one-sixth of the world's oil supply passes through the Strait of Hormuz.
If Iran actually did close the Strait of Hormuz, it would send the price of oil skyrocketing and clobber the world economy. It would also possibly, lead to war.
Is Iran just blowing hot air? Probably. But the fact that Iran can even threaten to close the Strait of Hormuz is annoying enough.
Iran, by the way, is the one of the world's biggest oil producers. It pumps about 5% of the world's oil, which makes it much bigger than, say, Libya, the last Middle Eastern oil producer that everyone had to freak out about. But, like Libya, and many other countries in the region, Iran is run by people who hate the United States and would like nothing more than to choke off our oil supply.
And Iran, of course, is also trying frantically to build a nuclear bomb, so it can really tell us where to stick it.
Meanwhile, oil is more than $100 a barrel, a level unthinkable only a few years ago. Oil is at $100 not because of some world war or supply shock or other Black Swan, but because the world's emerging economies are demanding more oil while the world's oil producers are producing pretty much the same amount of it.
(It's that supply-demand thing.)
And the United States still consumes about 20%-25% of the world's oil production, 50% more than the entire European Union, more than twice as much as China, and more than twice as much as we produce.
And this situation--a major supply-demand imbalance for oil (if not, in fact, peak oil)--has been predicted for more than 35 years.
So, to reiterate:
- We're highly dependent on a finite fuel source controlled by crazy people who hate us
- We've done next to nothing about this problem for four decades
In some places, this inaction on our part would be referred to as insanity. Or at least gross stupidity.
In other places, it would just be called denial.
But better late than never.
If we focus on trying to wean ourselves from dependence on oil, we can do it.
No, it won't be easy--kicking an addiction never is. Yes, it might lead to some people eventually switching jobs or being slightly less fantastically wealthy (oil industry executives). And, yes, it will require some lifestyle and philosophical changes (ditto). But some of those changes will eventually be positive, not negative.
And, done intelligently, kicking our Middle Eastern oil addiction will also lead to the development of vast, exciting new jobs, companies, and industries--industries that we own and control and that will ultimately employ and enrich millions of Americans.
And it won't kill the oil industry completely, because we'll still be consuming a lot of oil!
So, how can we begin to intelligently cure our addiction to Middle Eastern oil?
Well, what we shouldn't do is suddenly ban Middle Eastern oil imports--that would send the price of oil skyrocketing and destroy the economy.? This, of course, is what might happen anyway if our relationship with some key Middle Eastern countries gets bad enough, but we don't want to voluntarily impose this situation singlehandedly.
(Doesn't it just chap you that Iran has us by the balls like this, though? Seriously--it's outrageous. Iran!).
Instead, we can elect people who will actually lead us, instead of telling us what we want to hear. And we can encourage these leaders to develop a 10-Year-Plan to cure our Middle Eastern oil addiction.
Such a 10-year plan would likely have elements that will initially be unpopular. The alternative to this unpopularity, however, is continued lack of control over our destiny--which most folks who look at this situation objectively will probably agree is worse.
All of the elements in the 10 year plan should be phased in over the 10 years--to give consumers and industries time to plan and react. The goal here, after all, is not to inflict near-term pain--it is to make the whole system healthier over the long haul.
The elements include:
- Incentives to reduce oil consumption. These could take many forms. Tax credits for oil-to-gas conversion. Tax credits for natural-gas-powered transportation fleets. Tax credits for solar and geo-thermal home heating, hybrid and electric cars (or just fuel-efficient cars), and so on.
- Incentives to increase natural gas consumption, at least temporarily. There's lots of gas around, at least for now. And we control a lot of it. So one way to reduce oil consumption is to continue to shift more heat and vehicles to natural gas.
- A significant national gas tax. This should be phased in over the decade. It should fluctuate with the price of oil, with the aim of keeping gas prices rising slowly but steadily over the period (i.e., when oil prices spike, the tax should shrink. When oil prices drop, the tax should increase). Ultimately, the gas tax should at least double the price of gas from today's levels, thus bringing it in line with the price in many other countries. A gas tax will allow those who want to buy and use gas-guzzlers to continue to buy and use them. It will also create revenue to cover the cost of other elements of the 10-year plan. To wit:
- Tax incentives for companies and investors to invest in alternative energy.? Want to encourage the private sector to invent technologies that can ultimately can produce power and transportation more cheaply than with oil? Then provide an extra incentive to do it. Reduce capital gains taxes on alternative energy companies. Allow accelerated depreciation of alternative energy purchases. And so on. (The government does not need to invest directly in these companies to encourage the private sector--we need not have dozens more Solyndras).
That's pretty much it. It's not complicated. We just need to give American consumers and businesses incentives to make this transition slowly and deliberately, so we don't wallop the economy in the process.
The fact that it's 2012 and we're still addicted to Middle Eastern oil is not just a temporary geo-political challenge. It's not something that will go away if we ignore it. It's not something that "the market" will cure, at least not in a way that we want.? It's not something we can "fix" by making sure the folks in charge in the Middle East are people we can stand to do business with.
The fact that we're addicted to Middle Eastern oil is a national embarrassment.
We've had almost a half-century to prepare for this situation, and we haven't done jack. If we remain in denial, fighting to preserve the status quo, a transition of Middle Eastern oil will ultimately be forced on us. And it's hard to see why we would ever want that.
So it's time we focused on this problem. And it's time we did what any individual or company focused on fixing a long-term problem would do: Start by developing an intelligent long-term plan.
SEE ALSO: Analyst Says The Stock Market Is About To Crash
Source: http://www.businessinsider.com/middle-eastern-oil-addiction-2011-12
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UK's Times newspaper names Bouazizi person of 2011 (Reuters)
LONDON (Reuters) ? Britain's The Times newspaper on Wednesday named as person of the year Mohamed Bouazizi, a Tunisian whose self immolation inspired uprisings that toppled dictators across the Arab world and shook the region's remaining autocracies.
Bouazizi set himself alight last year after officials confiscated the unemployed 26-year-old's unlicensed grocery cart, reportedly slapping and insulting him. His desperate act struck a chord with millions of Arabs living with few job prospects or avenues for change under entrenched autocracies.
"The Times today names Mohamed Bouazizi, the street vendor who became the inspiration for the Arab Spring, as its person of the year," the paper said on its front page. "Bouazizi was no revolutionary, yet his lonely protest served as the catalyst for a wave of revolts that have transformed the Middle East."
Bouazizi' death from his wounds in January prompted protests across Tunisia, forcing autocratic President Zine Al-Abidine Ben Ali to flee the country. Soon afterwards, millions took to the streets in Egypt, Libya, Syria and elsewhere to protest against repression, corruption, poverty and joblessness.
The uprisings unseated despots in Libya, Egypt and Yemen as well as Tunisia, while Syrian leader Bashar al-Assad's writ is disintegrating and other authoritarian rulers in the region are eyeing the tide of public anger with nervousness.
Tunisia has since elected new leaders through peaceful democratic elections.
In an October interview with Reuters, Bouazizi's mother Manoubia urged the new leaders to honor her son's sacrifice by helping poor people like him.
"Nothing would have happened if my son had not reacted against voicelessness and a lack of respect," she said.
"But I hope the people who are going to govern will be able to keep this message in mind and give consideration to all Tunisians, including the poor."
(Reporting by Mohammed Abbas)
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Thursday, December 22, 2011
Morgan refuses to name McCartney voicemail source (omg!)
LONDON (AP) ? CNN celebrity interviewer Piers Morgan refused to disclose details Tuesday about his most damning link to Britain's phone hacking scandal ? his acknowledgment that he once listened to a phone message left by Paul McCartney for his then-wife Heather Mills.
In an eagerly awaited appearance before the U.K.'s media ethics committee, Morgan, who replaced Larry King on CNN, was visibly tense, sometimes hostile and often rejected characterizations of his actions made by inquiry lawyers as "nonsense."
The stakes were high for Morgan. More than a dozen journalists have been arrested, senior executives with Rupert Murdoch's News Corp. media empire have lost their jobs, and top U.K. police officers have resigned over their failure to tackle the phone hacking scandal. His testimony Tuesday was given under oath, and Morgan could be subject to criminal proceedings if he was found to have violated any British laws.
Before his U.S. television career, Morgan ran two British tabloids ? first Murdoch's News of the World and then the Daily Mirror, owned by Murdoch competitor Trinity Mirror.
A key line of questioning centered on comments Morgan made in a 2006 article in the Daily Mail tabloid. In it, Morgan said he was played a phone message left by the former Beatle on Mills' answering machine, describing it in detail and noting that McCartney "even sang 'We Can Work It Out' into the answerphone."
Mills, who went on to divorce McCartney in one of most expensive separations in British history, has said there's no way Morgan could have obtained the message honestly.
Morgan on Tuesday stubbornly refused to answer almost any questions about how he came to hear the message, saying: "I'm not going to start any trail that leads to the identification of a source."
But when asked by inquiry chief Lord Justice Brian Leveson whether he could supply any information to back the assertion that he had heard the recording legally, the 46-year-old journalist said he couldn't.
Earlier, Morgan said he "doesn't believe" he had ever listened to hacked voicemail messages ? and dismissed earlier interviews in which he'd discussed phone hacking at length as having been based on rumor and hearsay.
He also refused to say who had filled him in about the practice.
"My memory's not great about this. It was a long time ago," he said.
Morgan was giving evidence to Britain's media ethics inquiry by video link Tuesday from the United States ? one of dozens of phone hacking victims, journalists and tabloid executives to face the inquiry, set up in the wake of the uproar over phone hacking and other unethical newsgathering methods at the News of the World.
The atmosphere turned tense within minutes of Morgan taking his oath. He was quizzed about his relationship to private investigators and freelancers such as "Benji the Binman," who specialized in raking though celebrities' trash to look for scoops.
Morgan said he never dealt with private investigators but he did acknowledge buying information from Benji ? and said he'd had some qualms about it.
"Did I think he was doing anything illegal? No. Did I think he was doing anything on the cusp of unethical? Yes," Morgan said.
Witnesses at the inquiry have exposed the seamy side of British journalism, with reporters accused of cooking up stories, blackmailing subjects, hacking phones and paying bribes to police officers to secure tips.
Murdoch himself may testify before the inquiry, according to an offhand comment made by inquiry lawyer Robert Jay. At one point Jay told Morgan to stop speculating about what Murdoch might have remembered about a particular incident in which the two of them clashed.
"We can ask him for his recollection of events when we get there," Jay said.
The inquiry declined to comment further, and News Corp. did not immediately return an email seeking confirmation. Murdoch earlier in the year testified before Parliament on the subject of phone hacking and shut down the 168-year-old News of the World in July after the full hacking scandal broke.
CNN, meanwhile, broadcast its star's testimony live Tuesday, but only to its international subscribers.
Separately, Murdoch's News Corp. media empire announced settlements with seven more prominent figures in the wake of the phone hacking scandal at the News of the World.
The company said in a statement Tuesday it had settled claims brought by Princess Diana's former lover James Hewitt, ex-Liberal Democrat lawmaker Mark Oaten, TV presenter Ukrika Jonsson, model Abi Titmuss and Paul Dadge, who helped rescue victims of the 2005 London transit bombings. Theatrical agent Michelle Milburn and Calum Best, the son of soccer legend George Best, rounded out the settlement list.
At least one more settlement ? with former England soccer player Paul Gascoigne ? appeared imminent, according to lawyer Jeremy Reed.
The terms of the new payments announced Tuesday were not disclosed but they are likely to be substantial.
Actress Sienna Miller earlier received 100,000 pounds (nearly $157,000) in damages when she settled with News International; the family of murdered British schoolgirl Milly Dowler were awarded 2 million pounds ($3.1 million) plus 1 million pounds ($1.6 million) from Murdoch himself, which was earmarked for charity.
___
Online:
Leveson Inquiry: http://www.levesoninquiry.org.uk/
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Monday, December 19, 2011
Communications Equipment Procurement Risk Managemente and ...
home > Economics papers > Communications Equipment Procurement Risk Managemente and Response Measure
?Abstract? With the advent of economic globalization and China?s accession to WTO, all enterprises will be in the same competition under the rules of the game, the market competition for all enterprises are facing severe problem before. In this context, the communication businesses the sense of competition, increasing cost-conscious enterprises Procurement increasingly be taken seriously, thus becoming the communications enterprises in the development of an important strategic task..This article is to introduce the content of communications equipment procurement risk management. First of all, introduction of risk management at home and abroad, development and procurement of communications equipment the need for the introduction of risk management; discussed at this stage the characteristics of communications equipment procurement, the communications equipment at each stage of the procurement process of the existence of external risks and internal risks and external risks and internal risks of risk analysis and risk assessment, a detailed description of the corresponding risk response measures.Second, under ?Project Management Body of Knowledge Guide? for the risk management methodology, on the whole process of procurement of equipment to analyze the combination of procurement work, examples of risk management in day-to-day procurement of equipment applications. Procurement of equipment to use WBS job working decomposition, application brain storming for risk identification, Expert analysis of the case to identify the risk analysis assessment.Third, in light of its own job in detail communications equipment in the procurement of equipment to help themselves to pay the whole process of risk management. At each stage of the procurement application of risk management combined with theoretical knowledge of the characteristics of the procurement process to develop measures to deal with procurement risk, literally making the theory real. Early procurement of equipment to determine the functions, equipment selection, equipment to confirm the quantity; procurement of medium-term to determine the procurement methods, pricing methods, evaluation methods; procurement late on the management of supplier content reflects the procurement risk management awareness.
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Sunday, December 18, 2011
AP-GfK Poll: More than half say Obama should lose
Chart shows selected results of a poll on Barack Obama and the economy
Chart shows selected results of a poll on Barack Obama and the economy
WASHINGTON (AP) ? Entering 2012, President Barack Obama's re-election prospects are essentially a 50-50 proposition, with a majority saying the president deserves to be voted out of office despite concerns about the Republican alternatives, according to a new Associated Press-GfK poll.
Obama's overall poll numbers suggest he could be in jeopardy of losing re-election even as the public's outlook on the economy appears to be improving, the AP-GfK poll found. For the first time since spring, more said the economy got better in the past month than said it got worse. The president's approval rating on unemployment shifted upward ? from 40 percent in October to 45 percent in the latest poll ? as the jobless rate fell to 8.6 percent last month, its lowest level since March 2009.
But Obama's approval rating on his handling of the economy overall remains stagnant: 39 percent approve and 60 percent disapprove.
Heading into his re-election campaign, the president faces a conflicted public that does not support his steering of the economy, the most dominant issue for Americans, or his reforms to health care, one of his signature accomplishments, yet are grappling with whether to replace him with Republican contenders Mitt Romney or Newt Gingrich.
The poll found an even divide on whether Americans expect Obama to be re-elected next year.
For the first time, the poll found that a majority of adults, 52 percent, said Obama should be voted out of office while 43 percent said he deserves another term. The numbers mark a reversal since last May, when 53 percent said Obama should be re-elected while 43 percent said he didn't deserve four more years.
Obama's overall job approval stands at a new low: 44 percent approve while 54 percent disapprove. The president's standing among independents is worse: 38 percent approve while 59 percent disapprove. Among Democrats, the president holds steady with an approval rating of 78 percent while only 12 percent of Republicans approve of the job he's doing.
"I think he's doing the best he can. The problem is the Congress won't help at all," said Rosario Navarro, a Democrat and a 44-year-old truck driver from Fresno, Calif., who voted for Obama in 2008 and intends to support him again.
Robin Dein, a 54-year-old homemaker from Villanova, Pa., who is an independent, said she supported Republican John McCain in 2008 and has not been impressed with Obama's economic policies. She intends to support Romney if he wins the GOP nomination.
"(Obama) spent the first part of his presidency blaming Bush for everything, not that he was innocent, and now his way of solving anything is by spending more money," she said.
Despite the soft level of support, many are uncertain whether a Republican president would be a better choice. Asked whom they would support next November, 47 percent of adults favored Obama compared with 46 percent for Romney, a former Massachusetts governor. Against Gingrich, the president holds a solid advantage, receiving 51 percent compared with 42 percent for the former House speaker.
The potential matchups paint a better picture for the president among independents. Obama receives 45 percent of non-aligned adults compared with 41 percent for Romney. Against Gingrich, Obama holds a wide lead among independents, with 54 percent supporting the president and 31 percent backing the former Georgia congressman.
Another piece of good news for Obama: people generally like him personally. Obama's personal favorability rating held steady at 53 percent, with 46 percent viewing him unfavorably. About three-quarters called him likeable.
The economy remains a source of pessimism, though the poll suggests the first positive movement in public opinion on the economy in months. One in five said the economy improved in the last month, double the share saying so in October. Still most expect it to stay the same or get worse.
"I suppose you could make some sort of argument that it's getting better, but I'm not sure I even see that," said independent voter John Bailey, a 61-year-old education consultant from East Jordan, Mich. "I think it's bad and it's gotten worse under (Obama's) policies. At best, it's going to stay bad."
Despite the high rate of joblessness, the poll found some optimism on the economy. Although 80 percent described the economy as "poor," respondents describing it "very poor" fell from 43 percent in October to 34 percent in the latest poll, the lowest since May. Twenty percent said the economy got better in the past month while 37 percent said they expected the economy to improve next year.
Yet plenty of warning signs remain for Obama. Only 26 percent said the United States is headed in the right direction while 70 percent said the country was moving in the wrong direction.
The president won a substantial number of women voters in 2008 yet there does not appear to be a significant tilt toward Obama among women now. The poll found 44 percent of women say Obama deserves a second term, down from 51 percent in October, while 43 percent of men say the president should be re-elected.
About two-thirds of white voters without college degrees say Obama should be a one-term president, while 33 percent of those voters say he should get another four years. Among white voters with a college degree, 57 percent said Obama should be voted out of office.
The poll found unpopularity for last year's health care reform bill, one of Obama's major accomplishments. About half of the respondents oppose the health care law and support for it dipped to 29 percent from 36 percent in June. Just 15 percent said the federal government should have the power to require all Americans to buy health insurance.
Even among Democrats, the health care law has tepid support. Fifty percent of Democrats supported the health care law, compared with 59 percent of Democrats last June. Only about a quarter of independents back the law.
The president has taken a more populist tone in his handling of the economy, arguing that the wealthy should pay more in taxes to help pay for the extension of a payroll tax cut that would provide about $1,000 in tax cuts to a family earning about $50,000 a year. Among those with annual household incomes of $50,000 or less, Obama's approval rating on unemployment climbed to 53 percent, from 43 percent in October.
The Associated Press-GfK Poll was conducted December 8-12 2011 by GfK Roper Public Affairs and Corporate Communications. It involved landline and cell phone interviews with 1,000 adults nationwide and has a margin of sampling error of plus or minus 4 percentage points.
___
Associated Press writer Stacy A. Anderson and News Survey Specialist Dennis Junius contributed to this report.
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Saturday, December 17, 2011
Young adults drop exercise with move to college or university
ScienceDaily (Dec. 15, 2011) ? Regular exercise tends to steeply decline among youth as they move to university or college, according to a study by researchers at McMaster University.
Researchers found a 24 per cent decrease in physical activity over the 12 years from adolescence to early adulthood. The steepest declines were among young men entering university or college.
The research recently appeared in the American Journal of Preventive Medicine. The study, based on Statistics Canada's National Population Health Survey, followed 683 Canadian adolescents 12 to 15 years old, who were interviewed twice a year until they were 24 to 27 years of age.
While the children were most active, the research suggests that this advantage quickly disappears.
"This is a critical period, as the changes in physical activity during the transition from late adolescence to early adulthood represents the most dramatic declines in physical activity across a person's life," said Matthew Kwan, the principal investigator for the study and a postdoctoral fellow of the Department of Family Medicine of the Michael G. DeGroote School of Medicine.
"In particular, the transition into post-secondary is a one-time period when individuals become much less active."
Risk estimates suggest 20 per cent of premature deaths could be prevented with regular physical activity. Yet, recent data show 85 per cent of Canadian adults are not active enough to meet the recommended 150 minutes of moderate-to-vigorous physical activity a week.
Public health campaigns encourage Canadians to be more active but the McMaster researchers say little work has been done to prevent the decline in physical activity and they suggest this issue should be made a priority.
For the study, physical activity was measured by estimating the amount of total energy used during leisure activities over a three-month period during the transition from adolescence into early adulthood, including the move to college or university.
The researchers found the rate of decline in physical activity was greater for men than for women, who showed only a modest 1.7 per cent decrease in their overall activity levels; however, the women were less active in high school.
"It may be that girls experience the greatest declines in physical activity earlier in their adolescence," said Kwan.
For comparative purposes, the researchers also examined other health-risk behaviours of smoking and binge drinking. While both increased through adolescence, the researchers found the behaviours began to plateau or decrease in early adulthood; suggesting that individuals may be maturing out of these health-risk behaviours.
Conversely, Kwan added, physical activity decline does not appear to revert itself, but continues on a downward trajectory into adulthood.
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The above story is reprinted from materials provided by McMaster University.
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Journal Reference:
- Matthew Y. Kwan, John Cairney, Guy E. Faulkner, Eleanor E. Pullenayegum. Physical Activity and Other Health-Risk Behaviors During the Transition Into Early Adulthood. American Journal of Preventive Medicine, 2012; 42 (1): 14 DOI: 10.1016/j.amepre.2011.08.026
Note: If no author is given, the source is cited instead.
Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.
Source: http://www.sciencedaily.com/releases/2011/12/111215232728.htm
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Satellite spots China's first aircraft carrier
DigitalGlobe / AP
This satellite image provided by the the DigitalGlobe Analysis Center shows the Chinese aircraft carrier Shi Lang (Varyag) sailing in the Yellow Sea. The picture was acquired Dec. 8 by DigitalGlobe's QuickBird satellite.
Alan Boyle writes
A commercial satellite?operator says it?has captured a rare image of China's first aircraft carrier as it sailed through the Yellow Sea, after going through an exercise that's the 21st-century equivalent of finding a needle in a haystack.
DigitalGlobe said the aircraft carrier showed up on a cloud-filled picture snapped on Dec. 8 by its polar-orbiting QuickBird satellite from a height of 280 miles (450 kilometers). An analyst spotted the ship while checking the image on Tuesday, said Stephen Wood, the director of the company's analysis center.
"There is something that is always indispensable about having people involved," Wood told me. The ship was identified "using a combination of the satellite imagery plus open-source material on the Internet, and geography," he said, but "at the end of the day, it still comes down to a person."
Experts have been hoping for months to get a glimpse of the aircraft carrier at sea. The former Soviet Union started building the ship, originally known as the Varyag,?but never finished it. After the?Soviet breakup,?the Varyag?ended up in the hands of the Ukrainian government. The ship was auctioned off to the Chinese in 1998. Since then, the Varyag,?which has reportedly been rechristened the Shi Lang,?has been under refurbishment for sea service.
"This is a ship and a story that has had legs for many years," Wood said.
DigitalGlobe
Don't feel bad if you can't spot the aircraft carrier in this wide-field version of the satellite image from QuickBird. It's in the very center of the picture.
NBC's Brian Williams reports on the DigitalGlobe satellite picture.
DigitalGlobe said this picture was taken during the carrier's second sea trial, approximately 62 miles (100 kilometers) south-southeast of the port of Dalian. Wood said the picture indicates that the ship is "moving at a decent rate of speed, which would be expected in the middle of the ocean." The U.S. military could no doubt glean more information about the Shi Lang's status, from QuickBird's pictures as well as from?classified, higher-resolution imagery.
China says the Shi Lang will be used for research and training, and the project is thought to be part of the country's strategy to expand its presence as a naval power. The Chinese military is expected to build more copies of the ship in coming years. In fact, sources told Reuters in July that a second aircraft carrier was under construction.
"China's next moves have to be watched carefully, or there eventually could be a negative impact on maritime safety in Asia," Yoshihiko Yamada, a professor at Japan's Tokai University, told Reuters at the time.
QuickBird's?view of the Shi Lang serves as today's offering from the Cosmic Log Space Advent Calendar, which features an image of Earth from space every day from now until Christmas. Here are the past offerings in the series:
Update for 10:45 p.m. ET: The Associated Press' Dan Elliott got in touch with a Pentagon spokeswoman, Cmdr. Leslie Hull-Ryde, who said the progress made by the Chinese on the aircraft carrier was in line with the U.S. military's expectations. A Defense Department report to Congress said the carrier could become operationally available to China's navy by the end of next year, but without aircraft. "From that point, it will take several additional years before the carrier has an operationally viable air group," Hull-Ryde told Elliott in an email.
Connect with the Cosmic Log community by "liking" the log's Facebook page, following @b0yle on Twitter and adding the Cosmic Log page to your Google+ presence. You can also check out "The Case for Pluto," my book about the controversial dwarf planet and the search for new worlds.
Source: http://photoblog.msnbc.msn.com/_news/2011/12/14/9447273-satellite-spots-chinese-aircraft-carrier
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Friday, December 16, 2011
Bootleg liquor kills 143 people in eastern India
Indian patients take saline as they are treated after drinking toxic alcohol, in hospital in Diamond Harbour, near Kolkata, India, Thursday, Dec. 15, 2011. A tainted batch of bootleg liquor has killed scores and sent dozens more to the hospital in villages outside the eastern Indian city of Kolkata, officials said.(AP Photo/Bikas Das)
Indian patients take saline as they are treated after drinking toxic alcohol, in hospital in Diamond Harbour, near Kolkata, India, Thursday, Dec. 15, 2011. A tainted batch of bootleg liquor has killed scores and sent dozens more to the hospital in villages outside the eastern Indian city of Kolkata, officials said.(AP Photo/Bikas Das)
An Indian woman cries after her relative died from toxic alcohol outside a hospital in Diamond Harbour, near Kolkata, India, Thursday, Dec. 15, 2011. A tainted batch of bootleg liquor has killed scores and sent dozens more to the hospital in villages outside Kolkata, officials said. (AP Photo/Bikas Das)
Men who drank toxic alcohol receive saline intravenously in a hospital in Diamond Harbour, near Kolkata, India, Thursday, Dec. 15, 2011. A tainted batch of bootleg liquor has killed scores and sent dozens more to the hospital in villages outside Kolkata, officials said. (AP Photo/Bikas Das)
People who drank toxic alcohol take saline in a hospital in Diamond Harbour, near Kolkata, India, Thursday, Dec. 15, 2011. A tainted batch of bootleg liquor has killed scores and sent dozens more to the hospital in villages outside Kolkata, officials said. (AP Photo/Bikas Das)
An Indian woman is comforted as she cries after hearing her relative's death from toxic alcohol outside a hospital in Diamond Harbour, near Kolkata, India, Thursday, Dec. 15, 2011. A tainted batch of bootleg liquor has killed scores and sent dozens more to the hospital in villages outside Kolkata, officials said.(AP Photo/Bikas Das)
SANGRAMPUR, India (AP) ? Bootleg liquor containing toxic methanol killed 143 people and sickened dozens more who drank the cheap, illicit brew bought at small shops in eastern India, officials said Thursday. Police arrested 10 suspected bootleggers.
Emergency medical teams rushed to the village outside Kolkata, and thousands of relatives, many of them wailing in grief, gathered outside the packed hospital. Inside, dead bodies lay on the floor covered in quilts, while the ill waited on staircases to be treated. Groups of men sat in the halls with saline drips running into their arms.
Abdul Gayen cried inconsolably for his son, Safiulla, a laborer who drank some of the liquor Monday night and then complained of lightheadedness. When Safiulla woke up the next morning, he fell and began frothing at the mouth, Gayen said. He died before his family could get him to the hospital.
"Safiulla was the lone bread earner in our family. I don't know what will happen to us now," he said.
Illegal liquor operations flourish in the slums of urban India and among the rural poor who can't afford the alcohol at state-sanctioned shops. The hooch, often mixed with cheap chemicals to increase potency and profit, causes illness and death sometimes ? and occasionally mass carnage.
Many of the victims ? day laborers, street hawkers, rickshaw drivers ? had gathered along a road near a railway station after work to drink the illicit booze they bought for 10 rupees (20 cents) a half liter, less than a third the price of legal alcohol, district magistrate Naraya Swarup Nigam said.
They later began vomiting, suffering piercing headaches and frothing at the mouth, he said.
Angry villagers later ransacked booze shops around the village of Sangrampur, about 30 kilometers (20 miles) south of Kolkata, the city formerly known as Calcutta.
Police arrested 10 people in connection with making and distributing the methanol-tainted booze and demolished 10 illicit liquor dens in the area, said Luxmi Narayan Meena, district superintendent of police.
Arman Seikh, 23, rushed his brother-in-law to the hospital.
"He complained of burning chest and severe stomach pain last night," he told The Associated Press.
Police officials said the liquor was from an illegal distillery in the village of Mograhat that supplies 70 shops in the area. Police are searching for the kingpin of the operation, who has fled, they said.
Drinking alcohol contains ethanol, whereas highly toxic methanol ? a clear liquid that can be used as fuel, solvent or antifreeze ? can induce comas and cause blindness and is deadly in high doses.
Anwar Hassan Mullah brought six sickened people to a hospital, and all of them died, he told NDTV news channel. He blamed police for turning a blind eye to bootleggers who spike their alcohol to boost its kick.
"It's a very sad thing that this has happened," Mullah said. "Why don't the police stop this? I cannot understand. What connection do they have (to the bootleggers)?"
By Thursday evening, the death toll had skyrocketed to 143, said Surajit Kar Purkayaspha, a top West Bengal police official. About 100 people were being treated in hospitals, he said.
West Bengal Chief Minister Mamata Banerjee ordered an inquiry into the deaths, called for a meeting of the state's major political parties to address the problem and promised a crackdown.
"I want to take strong action against those manufacturing and selling illegal liquor," she said, according to Press Trust of India. "But this is a social problem also, and this has to be dealt with socially also along with action."
Despite religious and cultural taboos against drinking among Indians, 5 percent ? roughly 60 million people ? are alcoholics. Two-thirds of the alcohol consumed in the country is illegal homemade hooch or undocumented liquor smuggled in, according to The Lancet medical journal.
The state of Gujarat, where all liquor is banned, just approved a death penalty for making, transporting or selling spurious liquor that kills people. The strict measures were proposed after 157 people died from drinking a bad batch of liquor in the city of Ahmedabad in 2009. At least 180 people died in 2008 around the southern Indian city of Bangalore from a toxic batch of homemade liquor.
The mass casualties came just days after a hospital fire in Kolkata killed more than 90 people and led to the arrest of the facility's directors for culpable homicide.
Illicit liquor is a hugely profitable industry across India, where bootleggers pay no taxes and sell enormous quantities of their product, said Johnson Edayaranmula, executive director of the Indian Alcohol Policy Alliance, an organization that fights alcohol-related problems.
The bootleggers, working in homes, hidden warehouses and even in forests, can turn 1 liter of genuine alcohol into 1,000 liters of bootlegged swill with chemicals and additives that usually cause no harm, but on occasion can lead to tragedy, he said.
Every week, one or two people across the country die from tainted liquor, he said. In 2009, at least 112 people died from a toxic brew in western India.
"People don't know what they are drinking," he said. "It's all easy money, big profits. No one is bothered by the health or social consequences."
The trade is allowed to flourish despite strict laws against spurious liquor because corrupt police, local officials and tax authorities all get a cut of the profits, he said.
"Many people are getting a share out of it, so who is going to take action against these people," he said.
___
Associated Press writer Manik Banerjee contributed to this report.
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Julie Kocsis: The Black Keys' Potential to Be America's New Favorite Rock Band
"They're headlining MSG?" one of my friends recently asked, regarding the Black Keys' upcoming tour. "When did that happen?" The question is legitimate considering, for the first eight or so years of the band's career, they experienced success only in the indie world, never cracking into the Top 40 charts until their 2010 release, Brothers. With this album came a track called "Tighten Up," which was eventually picked up by pop radio stations, gaining the band wide critical acclaim, including three Grammy awards, including one for Best Alternative Music Album, and guest spots on Saturday Night Live and other late nights shows. The Black Keys were clearly on their way.
Now, having made that leap from indie obscurity into mainstream consciousness, the way the Arcade Fire did last year with The Suburbs, everyone was curious to see what Akron, Ohio's coolest blues rock duo, consisting of vocalist/guitarist Dan Auerbach and drummer Patrick Carney, would put out next. El Camino, the band's seventh album, produced by Danger Mouse, who also worked on Brothers with the guys, is an amazing collection of songs clearly inspired by rock and roll from the 50's and 60's as well as from the arena rock era of the 70's.
"After the first three or four songs were recorded, it kind of became apparent that they're all rooted in this early rock and roll feel," Carney explained in a video interview recently posted on MTV.com. "It was around that time that we decided to make a whole album that was built around that. We'd never made an album that was all coming from the same exact direction. We kind of wanted to do that."
The album's first track and first single, "Lonely Boy," has the potential for great success. Auerbach's brilliant, gritty and ripping opening guitar riff alone won me over whole heartedly. Combined with Carney's heavy, slamming drum beats that quickly join in, this is a fantastic rock song.
My other personal favorite is "Little Black Submarines." It starts off slowly with just Auerbach's voice and some slow guitar picking. Then half way through there's a one-second pause before he tears mercilessly into the song with a guitar riff so explosive, it briefly makes Hendrix seem inadequate. This song in particular, I can't wait to see live at the Garden. It just begs for a giant stage and thousands of ravaging fans.
With the release of El Camino, I wonder, could they be America's new favorite rock and roll band? Rock fans have recently been deserted by the Kings of Leon who can't seem to stay sober or get along. They've also been deserted by Jack White who has gotten weird (proof: check out his collaboration with Insane Clown Posse). And, let's face it, the Strokes' last album wasn't so great. So who's to fill the void?
My vote is for the Keys, obviously. Not only is their music great and the kind that can fill every nook of a venue as huge as the Garden, but Auerbach and Carney are also two of the most likeable, hilarious guys you've ever seen. Check out any interview with them on YouTube for proof. Also the fact that they named their album El Camino then put a photograph of a minivan on the album cover that is clearly not an El Camino furthers this. But what's best, they genuinely seem to enjoy spending all their time together. They're like brothers. (Just like the album name! Coincidence? I think not.)
If you haven't already, be sure to check out the Black Keys' new album, El Camino. But if you're currently stuck at work and only have access to YouTube, do yourself a favor and watch the video for "Lonely Boy," which features 48-year-old previously unknown actor/musician/security guard Derrick T. Tuggle, dancing his own free style dance in front of a hotel room door. It's bizarre and funny, but so addictive, which makes it fit in so perfectly with what the Black Keys do.
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Source: http://www.huffingtonpost.com/julie-kocsis/the-black-keys-potential-_b_1144906.html
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Wednesday, December 7, 2011
Do presidents really age faster than rest of us? (AP)
CHICAGO ? White House wannabes take note: Contrary to the idea that being president speeds up aging, a study shows that many U.S. commanders in chief have actually lived longer than their peers.
Using life expectancy data for men the same age as presidents on their inauguration days, the study found that 23 of 34 presidents who died of natural causes lived several years longer than expected.
The four former presidents still alive have already lived longer than predicted, or likely will because they're in good health, the study said.
"The graying of hair and wrinkling of the skin seen in presidents while they're in office are normal elements of human aging," said study author S. Jay Olshansky, a researcher on aging at the University of Illinois at Chicago.
Stress can speed up those two outward signs of aging, and it's possible that job stress has made some presidents appear to age quickly. But the study shows that doesn't mean being doomed to an early grave.
"We don't actually know if they get more gray hair or more wrinkles" than other men their age. "But even if they did, we don't die of gray hair and wrinkles," Olshansky said.
Given that most of the 43 men who have served as president have been college-educated, wealthy and had access to the best doctors, their long lives are actually not that surprising, he said.
His study is published in Wednesday's Journal of the American Medical Association.
The idea that presidents age quickly comes from casual observation and more studious assessments. Promoters of that idea include Dr. Michael Roizen, chairman of Cleveland Clinic's Wellness Institute and co-founder of RealAge, Inc. The "real age" concept suggests that age depends partly on lifestyle factors including stress and diet that either keep people young or prematurely age them. Roizen theorizes that presidents age twice as fast while in office.
Roizen said Olshansky's study doesn't disprove that idea and only shows "that in order to run for president you tend to be incredibly healthy."
Olshansky stands by his findings.
The 34 presidents who died of natural causes were aged 73 on average at death, a few months less than Olshansky's' life expectancy estimate. But under the accelerated aging theory, their average age of death would have been 68, he said.
The 23 presidents who lived longer than Olshansky's projections died at an average age of 78, 11 years later than under the accelerated aging theory.
The four presidents who were assassinated ? Abraham Lincoln, James Garfield, William McKinley and John F. Kennedy ? were aged 52 on average at death.
The first eight presidents were almost 80 years old on average when they died, at a time when the average life expectancy for men was less than age 35.
"It's absolutely extraordinary that they lived this long," Olshansky said.
That includes John Adams, who died at 90; James Madison, 85; and Thomas Jefferson, 83.
Ditto the last eight presidents who died ? seven lived longer than expected; Lyndon Johnson was the only one who didn't. He died of a heart attack at age 64, 10 years less than his projected life expectancy and five years less than his life expectancy with accelerated aging, Olshansky said.
Among the more recent presidents, Ronald Reagan and Gerald Ford both died at 93. Jimmy Carter and George H. W. Bush are both 87.
Olshansky has even done some projecting about 50-year-old President Barack Obama. Given his age when inaugurated, Obama's life expectancy would be 79, but Olshansky estimates that Obama will live to at least 82 because of his education, wealth and access to top-notch health care.
____
Online:
JAMA: http://www.jama.ama-assn.org
___
AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner
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Tuesday, December 6, 2011
Video: Holiday Shopping in Full Swing
Robert Taubman, Taubman Centers, chair, president & CEO, highlights record sales in November for Black Friday and Cyber Monday, and what to expect for retail in December.
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Monday, December 5, 2011
Myanmar approves first peaceful protest law (AP)
YANGON, Myanmar ? Myanmar's president has approved a new law allowing citizens to request permission to stage peaceful protests for the first time.
Demonstrations of any kind were previously banned in the traditionally repressive nation, where authorities have cracked down hard on anti-government protests.
The new law says anyone planning a protest must request approval five days beforehand from police, who can deny permission but must explain the reason why.
The move is the latest reform undertaken by the nominally civilian government since it took power from a military junta earlier this year.
State media reported Saturday that President Thein Sein signed the legislation a day earlier, as U.S. Secretary of State Hillary Rodham Clinton ended a three-day visit.
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Revote on interracial couples likely at Ky. church (AP)
PIKEVILLE, Ky. ? The pastor of an eastern Kentucky church where the congregation voted to not accept interracial couples as members says the decision is unlikely to stand.
Stacy Stepp, pastor of Gulnare Free Will Baptist Church, told the Appalachian News-Express in Pikeville he believes state and national Free Will Baptist associations will stand with him and other members of the church who oppose the ban.
Stepp also said he's seeking another vote on the issue, perhaps as early as Sunday, according to the Lexington Herald-Leader.
Many members of the congregation did not vote last Sunday on a statement that everyone could attend services, but that interracial couples could not join the church or have a part in worship services. Of those who did vote, 9 favored it and 6 opposed it.
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Sunday, December 4, 2011
This Apollo Saturn V Rocket Is Your Dream-Crusher Deal of the Day [Dealzmodo]
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Saturday, December 3, 2011
Obama urges Congress to pass payroll tax cut (AP)
WASHINGTON ? President Barack Obama says Congress should pass a payroll tax cut before their end-of-the year break, and he's raising the possibility that "we can all spend Christmas here together."
Obama made the comments Friday at an event on energy efficiency.
The president says he'll keep pushing Congress to approve the payroll tax cut. He says now is not the time to slam the brakes on the economy, but it's "time to step on the gas."
The government just reported that the unemployment rate fell to 8.6 percent in November, down from 9 percent in October. That's the lowest since March 2009.
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Hank Paulson's 'astonishing' insider tip to Wall Street (The Week)
New York ? Bloomberg?reports that as Treasury secretary, Paulson gave a potentially lucrative heads-up to hedge fund managers. Should we be outraged?
Mere days after revealing that big Wall Street banks made $13 billion in secret profits off the Federal Reserve's $7.7 trillion bid to shore up the financial system in 2008-09,?Bloomberg Markets?is back with a "rather astonishing" scoop on then-Treasury Secretary Henry Paulson's sharing of insider knowledge with hedge fund chiefs. On July 21, 2008, as Paulson was publicly assuring reporters and Congress that Fannie Mae and Freddie Mac would survive without a government lifeline, he told a who's-who of hedge fund managers that a partial federal takeover was likely,?Bloomberg?reports.?At least five of the hedge fund managers were alumni of Goldman Sachs ? a firm Paulson used to run.?Is this as bad as it sounds?
Paulson's tip-off is scandalous: Slipping non-public, market-moving information to your "hedge fund buddies" during a financial crisis ? "now this?is what a scandal looks like," says Derek Thompson at?The Atlantic. Paulson may not have broken any laws, but he clearly crossed the "bright white line between doing everything you can to help our financial sector survive the credit crunch, and doing everything you can to help your buddies survive the credit crunch."
"Bloomberg exposes Secretary Paulson really, seriously not doing his job"
Fair or not, this is just business as usual: "The sharing of information from federal regulators to the head honchos within the financial industry is nothing new," says Lisa Du at?Business Insider. It happened in the Bush administration, and it's happening under Obama, too. And remember, it's not all for nefarious reasons: Federal fiscal and monetary officials need to gauge the mood of the market to do their jobs. "The Bloomberg expos? is a great piece of muckraking," but it's hardly surprising.
"Investors and bankers getting special access... happens all the time"
But this isn't Paulson's first violation: There's a huge difference between touching base with Wall Street and Paulson's "downright pathological" need to give "inside information to his old Wall Street buddies," says Felix Salmon at?Reuters. We only know for sure about this hedge fund confab and a separate secret Moscow meeting with the entire board of Goldman Sachs. But Paulson's "astonishing black hole where his ethics ought to be" surely runs much deeper. Sadly, it turns out the "'Government Sachs' conspiracy theorists" were right all along.
"Hank Paulson's inside jobs"
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