Bash The Banker

Submitted by: Jerry Rodgers

Leading executives from America s eight largest banks testified on Capitol Hill February 11, as Congress asked how they spent $165 billion in federal money. Legislators had four questions in mind:

1)Where did the money go?

2)Why aren t you lending as much as we would like?

3)How challenged for capital are you?

[youtube]http://www.youtube.com/watch?v=vZKKNKYbnCE[/youtube]

4)Are you really going to be frugal?

Question #1 was answered in varying degrees. Bob Kelly of The Bank of New York Mellon said the $3 billion BONY received was used to buy $1.7 billion of mortgage-backed securities and debentures and $900 million of debt securities from other healthy financial institutions ; the remaining $400 million was used for interbank lending. Goldman Sachs CEO Lloyd Blankfein told Congress that Goldman Sachs has committed over $13 billion in new financing to support our clients since getting a $10 billion TARP injection.Citigroup CEO Vikram Pandit said the TARP money translated to $36.5 billion in new lending initiatives and other new programs. Other CEOs were less specific.

Question #2 has been in the air for weeks. Are the banks actually using TARP money to lend, or simply to stabilize themselves? All CEOs maintained they were using TARP funds responsibly, and that lending levels had increased or were increasing. While praising the idea of a systemic risk regulator to supervise the U.S. financial markets, JPMorgan Chase CEO Jamie Dimon detailed that bank s 4Q activity: $50+ billion in new consumer loans, $20+ billion in new credit for small and mid-sized businesses, about $90 billion in new and renewed corporate loans, and an average of $50 billion a day in interbank lending.Bank of America CEO Ken Lewis testified that BofA arranged $115 billion in new consumer and business loans in 4Q 2008, and renewed roughly $70 billion in credit lines in addition to buying loans in bulk. Wells Fargo & Co. CEO John Stumpf said that Wells Fargo had made $72 billion worth of loans last quarter and restored lines of credit to some Wachovia customers formerly denied credit.

As for Question #3, Stumpf proudly cited a profit of almost three billion dollars last year at Wells Fargo.5 The Bank of New York Mellon s Kelly assured Congress that we were profitable every quarter last year . Blankfein pointed out that Goldman Sachs had turned a profit of $2.2 billion in 2008.Other testimonies were less specific.

Question #4 was answered with acknowledgements of what Citigroup s Pandit called a new reality . Pandit told Congress that his salary would be $1 per year with no bonuses until the situation improves. Pandit told Congress that I get the new reality and I will make sure Citi gets it too. 5 The eight testifying CEOs said they earned from $600,000 to $1.5 million in 2008; none received bonuses. However, seven of the eight CEOs admitted that their firms owned or leased aircraft. In 2008, Wall Street firms still paid out more than $18 billion in bonuses, and financial firms still planned the occasional merit-based resort getaway.

Banks need to be held accountable. Why are we in this mess? Too many banks got away from the fundamentals. For decades, they originated home loans and assumed the credit risk themselves. Suddenly, they found ways they could pass the credit risk to investors. Fast-and-loose lending was keyed to assumptions that real estate would probably always go up in value. No person would be advised to owe 25 or 30 times their net worth, but this somehow became permissible for financial institutions.

Consumers made mistakes too. In the last decade or so, American consumers were seduced away from core principles of saving and investing. As the New York Times David Leonhardt observed, too many of our financial decisions were made for our present self instead of our future self , and they mostly involved spending. The recession is teaching us to save. In December, Americans saved about 3.6% of their disposable income, three to four times more than the norm in recent years.

However, personal spending is still the engine of our economy. If we save too much, we re siphoning fuel from that engine. If the personal savings rate increases, this means more money going into banks. That s good. The question is whether we can spend and save at appropriate levels at the same time.

Can we do both? Actually, we ve done it for decades. Only recently did we get away from the fundamentals and look how that affected our economy. Fortunately, our government is working hard to shore up our financial system. We have a trillion-dollar campaign in the works to buy up toxic assets, stress test banks, and inject more capital into them. The banking system has got to be fixed; consumers have got to be encouraged. The government is positioning its resources to boldly do both tasks.

Are you planning for your future self ? It may be a challenge, yet it is also necessary. A chat with your financial consultant might give you some long-range perspective and some ideas for how to reach your short- and long-term goals.

About the Author: Jerry M. Rodgers is passionate writer and loves writing about Retirement and Financial Planning.He is quite impressed with the

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Crosswords/2005/February/1
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Crosswords/2005/February/1

Tuesday, February 1, 2005

Feel free to use the Wikimedia sites to solve our Wikinews crossword (Please do not fill it out online as it would spoil it for other people, print it out and fill it in at you own leisure!)

If you like, you can follow the instructions on Crosswords/Across Lite to download and solve today’s crossword on your computer.

Today’s crossword in Across Lite TEXT format (warning – contains answers!).
< Yesterday’s crossword.
Retrieved from “https://en.wikinews.org/w/index.php?title=Crosswords/2005/February/1&oldid=515782”

Australia: Wikinews interviews Wayne Connop, independent candidate for Daly by-election
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Australia: Wikinews interviews Wayne Connop, independent candidate for Daly by-election

Monday, September 6, 2021

In the Northern Territory of Australia, voters in the electoral division of Daly are scheduled to vote for a new Member of the Legislative Assembly on September 11. The previous Member, Ian Sloan of the Country Liberal Party (CLP), resigned in August. Daly covers communities near Darwin, as well as more remote places such as Timber Creek and Wadeye.

Wikinews spoke to one of the four candidates in Daly, Wayne Connop, who is running as an independent candidate. Connop has previously stood for both the Labor Party (ALP) and the CLP. He pleaded guilty to perjury in 2018 after inaccurately claiming on his website that his legal expertise covered work, health, and safety law.

Retrieved from “https://en.wikinews.org/w/index.php?title=Australia:_Wikinews_interviews_Wayne_Connop,_independent_candidate_for_Daly_by-election&oldid=4643925”

Understanding Companion Care

byAlma Abell

If you have an elderly friend or family member who you are concerned about living by themselves, you’re not alone. Each year, thousands look into the services of home health care aids or companion care services to give them the peace of mind they need. Not only will you be more confident about them getting the help they need when they need it most, you can rest assured that they are being provided with attentive, personalized care from the comfort of their own home. If you need to better understand how this companion service works, here are some of the basics you should know.

[youtube]http://www.youtube.com/watch?v=K8dlsC4LIa0[/youtube]

Meal Preparation AssistanceCompanion care extends beyond simply providing medication reminders and assisting with any health-related concerns. A highly trained aid will be able to provide assistance with everyday necessities, including preparing meals and maintaining a balanced nutrition. Some caregivers are even trained by professional cooks, making them true experts when it comes to preparing healthy, balanced meals.

Around the HouseYour loved one may not be able to tend to their home like they once could, but that doesn’t mean that their surroundings should suffer. Companion care services can provide them assistance with duties like light cleaning, laundry and grocery shopping to keep their household looking and feeling just how they like it. While the patient can still stay actively involved in the tasks that they’re used to carrying out, they’ll have the help of an attentive caregiver should they need assistance at any point. It’s the ideal way to help them maintain a significant level of independence.

Getting AroundA caregiver will also be able to provide transportation and accompaniment to various appointments, including beauty services, doctor visits and pharmacy trips. Simply getting out of the house every now and again is something that we all should be able to enjoy into our golden years, and these services will allow your loved one to do just that. While hiring a caregiver can sometimes be a little daunting, by doing your homework and choosing a professional, caring service – you can rest assured that your beloved friend or family member is truly in good hands.

Capital City Nurses is proud to serve the Maryland area by providing quality companion care services. With years of training and experience, they’re the ideal choice for anyone who is looking to provide their loved one with the best assistance available. To learn more, visit their website today at Capitalcitynurses.com.

Capital-City-Nurses

Delta Blues wins 2006 Melbourne Cup
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Delta Blues wins 2006 Melbourne Cup

Tuesday, November 7, 2006

The Japanese owned Delta Blues ridden by Iwata Yasunari has won the AU$5.1 million 2006 Melbourne Cup. Trainer Katsuhiko Sumii also achieved the Quinella winning bet with stablemate Pop Rock, ridden by Damien Oliver, placing second in the race. Maybe Better came in at third, with Zipping posting a fourth place finish. Pre-race favourite Yeates missed the start, finishing seventh.

After the race, jockey Iwata joyfully shouted “Very happy, very happy. My biggest winner ever.”

Zabeat was the last finisher in a 23-horse field that was reduced in number after the early morning scratching from the race of Efficient with leg soreness.

Australians bet over $50 million dollars on the race, with Delta Blues paying $17.50 for the win, which made it the first horse from Japan to have won the race in the 145 year history of the Melbourne Cup.

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How To Send Money Via Money Gram

MoneyGram International, Inc. is a United States-based financial services company, headquartered in St. Louis Park, Minnesota. It has its Global Operations Center in Brooklyn Center, Minnesota and additional offices in New York City and Coral Gables, Florida.MoneyGram International offers products and services through a network of agents and financial institution customers. The Travelers Express Company, Inc., which has been in operation since 1940, acquired MoneyGram Payment Systems, Inc. in June 1998 from American Express. The business was incorporated in December 2003 in connection with the 2004 spin-off from its parent company, Viad Corporation, and is now known as MoneyGram International.MoneyGram International provides money transfer services, money orders, and bill payment services to consumers. Another segment of MoneyGram International provides financial institutions with payment processing services, primarily of official check outsourcing services and money orders for sale to their customers.MoneyGram is another payment term, it places a important status during the international trade. Here is the way how to send use it, is very useful. Step 1Locate a MoneyGram location nearest you. The easiest way to do this is through the company website (see resources below). Search for locations based on your current zip code. Money Gram has locations all over the globe so finding one in your area will be easy. Most locations are in retail stores or gas stations.Step 2Drive to the nearest location. Remember to take the money you will be sending and a form of photo identification such as a drivers license with you. MoneyGram will only accept cash for sending money so make sure that you have enough cash on you to complete to transaction.Step 3Complete the proper paperwork. This is known as the “send” form. You will need to enter your information as well as the information of the person receiving the money. This form is usually located near the counter at the MoneyGram location.Step 4Pay the money being sent along with a fee (which varies depending on the amount being sent) and retain the reference number for your records. Contact the person the money is being sent to with the reference number so that they can claim their funds.

Controversial U.S. abortion doctor shot dead in Kansas church
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Controversial U.S. abortion doctor shot dead in Kansas church

Sunday, May 31, 2009

George Tiller, a controversial doctor who performed late-term abortions, has been shot dead in a church in Kansas, United States. A man is in custody over the killing.

67-year-old Tiller had been the target of many previous attacks. In 1986 his clinic was seriously damaged in a bombing and in 1993 he was shot in both arms. In 1991 his clinic saw summer-long protests that resulted in 2,000 arrests and he said that in 1994 he was put under police protection after FBI agents uncovered an anti-abortion ‘hit list’ naming him as a top target. The clinic was vandalized earlier this month.

The controversy stemmed from the fact that his clinic is one of just three in the United States that performed late-term abortions, which are abortions of fetuses which are capable of surviving outside of the womb. This is legal in Kansas so long as two doctors agree the mother is in serious danger if she were to give birth.

Tiller was recently tried on charges of performing nineteen illegal abortions in 2003; he was cleared of any wrongdoing at the end of a trial described by his lawyer as a ‘witch-hunt’. It was alleged that there were irregularities and a financial involvement in his relationship with the doctor who gave second opinions in the abortions.

Another controversy was sparked by donations Tiller made to support Kathleen Sebelius, then governor of Kansas. The donations, coupled with Sebelius’ abortion-rights views, caused anti-abortion groups to oppose her nomination as U.S. Secretary of Health and Human Services, but the Senate confirmed her in a 65 to 31 vote in April.

Tiller was killed at 10 a.m. local time in the Reformation Lutheran in Wichita. A white man was witnessed with a handgun killing the doctor before fleeing in a blue Ford Taurus. The vehicle’s number plate was traced to Kansas City, 200 miles from Wichita.

State police and the FBI were involved in the hunt for the gunman. A suspect is now in custody.

Retrieved from “https://en.wikinews.org/w/index.php?title=Controversial_U.S._abortion_doctor_shot_dead_in_Kansas_church&oldid=1100173”

UK energy companies announce that prices for bills could increase
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UK energy companies announce that prices for bills could increase

Saturday, September 19, 2009

Six energy companies in the United Kingdom have announced that it is likely that the prices for energy bills could increase over the course of 2010.

The companies, which are nicknamed the “big six” in the United Kingdom, did not pass on information that there would be price cuts in energy bills despite increasing profits. However, the companies have in fact sent a message in response saying that the prices of bills may even increase over the course of the next year. Energy company watchdog the Office of Gas and Electricity Markets (Ofgem) have estimated that energy companies will make gross margins of £170 ($276) per dual fual customer over the course of the next twelve months, due to the recent fall in wholesale energy costs.

Ofgem have said: “Our analysis shows that based on an 18-month hedging strategy and assuming that retail prices remain unchanged, projected gross margin is set to increase by around £80 for dual fuel customers over the next six months.”

The “big six” energy companies in the United Kingdom are British Gas, E-on, Npower, Scottish and Southern Energy, Scottish Power, and EDF Energy. British Gas stated: “Prices [are] likely to remain at historically high levels, and in fact likely to increase as non-commodity costs rise ever upwards.”

EDF Energy said: “[We] would of course be prepared to reduce tariffs if market conditions allowed.” Scottish Power stated: “There are no immediate signals that would indicate a fall in retail prices for this winter, and risks of an increase next year.” Scottish & Southern Energy commented: “With forward annual wholesale prices significantly higher, and with upward pressures in terms of distribution, environmental and social costs, seeking to avoid an increase between now and the end of 2010 is an important goal.”

Meanwhile, a study by Consumer Focus in early September 2009 suggested that “energy companies were overcharging customers by £100 ($162) every year. A spokesperson for Ofgem said that there was no evidence of any cartel in operation, or evidence of profiteering. The spokesperson commented: “It is up to the companies themselves to decide whether to cut their bills. Consumer Focus data suggests that Scottish Power has increased dual fuel prices by the most since 2003 – up 148% – while decreasing prices by 0.6% so far this year. RWE’s Npower has increased tariffs by 132% since 2003, but has reduced bills by 2.7% in 2009.”

Retrieved from “https://en.wikinews.org/w/index.php?title=UK_energy_companies_announce_that_prices_for_bills_could_increase&oldid=1566494”

Andrea Muizelaar on fashion, anorexia, and life after ‘Top Model’
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Andrea Muizelaar on fashion, anorexia, and life after ‘Top Model’

Monday, November 26, 2007

In the 18 months since Andrea Muizelaar was crowned winner of the reality TV series Canada’s Next Top Model, her life has been a complete whirlwind. From working in a dollar store in her hometown of Whitby, Ontario, to modeling haute couture in Toronto, she had reached her dream of becoming a true Top Model.

But at what cost? Unknown to casual television viewers, Muizelaar had been enveloped in the eating disorder anorexia nervosa, which inevitably became too much for her to bear. She gave up modeling and moved back to Whitby, where she sought treatment for her disorder, re-entered college, and now works at a bank. Where is she now? Happy and healthy, she says.

Recently Andrea Muizelaar sat down with Wikinews reporter Mike Halterman in a candid interview that stretched to nearly two hours, as she told all about her hopes and aspirations, her battle with anorexia, and just what really happened on Canada’s Next Top Model.

Retrieved from “https://en.wikinews.org/w/index.php?title=Andrea_Muizelaar_on_fashion,_anorexia,_and_life_after_%27Top_Model%27&oldid=1408470”

Centennial of ‘father of contemporary Thai cinema’ celebrated
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Centennial of ‘father of contemporary Thai cinema’ celebrated

Saturday, May 24, 2008

Thailand’s National Film Archive in Salaya, Nakhon Pathom unveiled a new museum and cinema on Thursday night for the 100th anniversary celebration of the birth of Rattana Pestjoni, a filmmaker who is considered the “father of contemporary Thai cinema”.

With Pestonji’s family, movie stars, filmmakers, government officials and fans on hand, the National Film Archive’s museum was opened for tours, and the facility’s 120-seat cinema hosted the screening of a documentary film, Signature: The Life and Work of R.D. Pestonji.

Pestonji was born in Bangkok on May 22, 1908, to a Parsi-Indian (ethnic Persian) family. For his first short film, Tang, in 1937, he received an award from Alfred Hitchcock at a film festival in Scotland. Pestonji directed his first feature film, Dear Dolly, in 1951. He was known for his skills as a cinematographer, and he shot the first Thai feature film to be submitted to an overseas film festival. Pestonji also pushed for innovations in the Thai film industry, such as using 35mm film, and raising the level of cinematography as an artistic element of the films, said film historian Dome Sukwong, director of the National Film Archive.

The now-lost Santi-Weena was submitted to the Asia-Pacific Film Festival in 1954 in Tokyo. Pestonji served as cinematographer on it as well as Forever Yours, in 1955. He then directed four features, Country Hotel in 1957, Dark Heaven in 1958, Black Silk in 1961, and Sugar Is Not Sweet in 1964. His films were never box-office successes, which led to Pestonji retiring from feature-film work to make television commercials, Sukwong said.

Pestonji died of a heart attack on August 17, 1970 at the Montien Hotel Bangkok, while giving a speech to government officials and film industry executives about the prevalence of Hollywood films in Thailand’s cinemas.

Contemporary directors who were influenced by Pestonji include Wisit Sasanatieng and Pen-ek Ratanaruang (Last Life in the Universe). Sasanatieng was among the filmmakers present at Thursday’s event.

Prae Dum [Black Silk] is the film that remains my single major influence,” Sasanatieng was quoted as saying by the Bangkok Post. Sasanatieng’s colorful features, Tears of the Black Tiger and Citizen Dog bear many of the hallmarks of Pestonji’s films. “Khun Ratana was not simply a master storyteller … he knew how to use color, art direction and camera angles to create subtle nuances and charge the movie with strong emotions.”

Pestonji’s sons, Santa and Edel, have continued in the film business. The Bangkok film production house their father started now houses a firm that hires out equipment and film crews to foreign films shooting on location in Thailand. Films that the company has been involved with include Heaven & Earth and The Beach. Pestonji’s daughter, Ratanavadi Ratanabhand, was the lead actress in 1961’s Black Silk.

The Pestonji centennial celebration was the first major event held in the new facilities at the National Film Archive, which moved around 10 years ago to the Fine Arts Department compound in Nakhon Pathom Province, about 50 kilometers from Bangkok, where the archive had been previously located. The museum and cinema complex were built in the last year, and Thursday’s event was the first major function held at the facility, said Chalida Uabumrungjit of the Thai Film Foundation, which has worked closely with the National Film Archive to preserve Pestonji’s legacy. The foundation holds the rights to Pestonji’s films and plans to issue a DVD set of his works later this year.

The centerpiece of the archive’s museum is a wax figure of Pestonji, seated with his prized Mitchell camera in front of a recreation of the set from his 1957 musical comedy Country Hotel.

In a manner similar to Grauman’s Chinese Theatre in Hollywood, handprints, footprints and signatures of celebrities are being collected in the concrete outside the museum’s cinema. That initiative started on Thursday with actor Prompong Nopparit, a spokesman for the Ministry of Culture, being the first to make his marks.

Other stars making impressions included actor Suthep Wongkamheng, who starred in Pestonji’s Dark Heaven. A rain storm dampened the festivities, but didn’t keep 1970s action star Sombat Metanee from making his mark in the slab, albeit under cover of umbrellas. Other figures adding their marks to the wet cement were pioneering animator Payut Ngaokrachang and Santa Pestonji, Ratana’s eldest son.

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