Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group’s implosion nearly three years ago.
Credit default swaps on the bonds of Royal Bank of Scotland, BNP Paribas, Deutsche Bank and Intesa Sanpaolo, among others, flashed warning signals on Wednesday. Credit default swaps (CDS) on RBS were trading at 343.54 basis points, meaning the annual cost to insure £10m of the state-backed lender’s bonds against default is now £343,540.
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Eric Schneiderman. This is good, it means he’s not playing ball on the banks!
John Conyers said a very rational thing about the coal industry yesterday:
There’s a big campaign going on about how you clean coal and we want to examine that as critically and fairly as we can, but here’s the problem: I’ve been to West Virginia, and that’s about all they’ve got there.
We’ve got to work out a situation in one state of the union, there may be others, in which we come up with alternative ways of creating full employment without just putting everybody out of work.
Sounds perfectly sane, right? Go read about the resulting shitstorm.
I think I’m having a heart attack, just called. Wish me luck.
This on-target piece in Washington Post is about the contemporary conservative agenda, but it’s not only about so-called conservatives. Which politicians do you trust these days?
Well, Richard, money talks, bullshit walks. I’m not holding my breath.
As part of our increasing militarization of the police, the CIA has developed a handy workaround to spy domestically!
Since the terrorist attacks of Sept. 11, 2001, the NYPD has become one of the country’s most aggressive domestic intelligence agencies. A months-long investigation by The Associated Press has revealed that the NYPD operates far outside its borders and targets ethnic communities in ways that would run afoul of civil liberties rules if practiced by the federal government. And it does so with unprecedented help from the CIA in a partnership that has blurred the bright line between foreign and domestic spying.
Neither the city council, which finances the department, nor the federal government, which contributes hundreds of millions of dollars each year, is told exactly what’s going on.
The department has dispatched teams of undercover officers, known as “rakers,” into minority neighborhoods as part of a human mapping program, according to officials directly involved in the program. They’ve monitored daily life in bookstores, bars, cafes and nightclubs. Police have also used informants, known as “mosque crawlers,” to monitor sermons, even when there’s no evidence of wrongdoing. NYPD officials have scrutinized imams and gathered intelligence on cab drivers and food cart vendors, jobs often done by Muslims.