Daily Archives: December 11, 2014

All Senate Republican Staffers To Sign Up For Obamacare

Zerohedge:

One of the unspoken complaints about Obamacare (in addition to it soaking up all and then some of the $380/year in low gas price “savings” as a result of the oil plunge) is that if it was so good for the general population, then why are most Congressional staffers exempt from its provisions? That is about to change after Senate Republican staffers will be required to obtain health insurance through ObamaCare’s exchanges under a rule passed Wednesday by the GOP Conference.

According to Politico, the proposal from Sen. David Vitter (R-La.) means that Senate Republicans will designate their staff as “official,” moving them automatically onto the marketplaces.

A loophole used in both chambers allows lawmakers to designate staff as “unofficial” or “official staff,” which permits them to keep their insurance coverage under the Federal Employee Health Benefits Program.

“Republican senators made a strong, principled statement today in passing my resolution,” Vitter said in a statement. “Washington should have to live under ObamaCare just like everybody else until we repeal it. And we won’t be complicit in Obama’s illegal rule designed to protect Washington insiders.”

Vitter is an outspoken critic of some lawmakers’ decision to keep their staff off the marketplaces.

He also opposes the employer subsidy for insurance given to lawmakers and staff by the government, arguing it gives Congress an unfair advantage. The question of whether staffers will still receive financial help to pay for their coverage was not addressed in Wednesday’s resolution.

The Republican policy applies to all staff regardless of whether they work in a personal, committee or leadership office. Cloakroom and other aides are also included.

And with Republicans jumping all in on Obamacare, now it is the Democrats turn:

The GOP Conference challenged Senate Democrats to adopt a similar policy and not allow their aides to remain on the Federal Employee Health Benefits Program.

UN Process Could Limit Default and Stop Predatory Funds

The international body voted 128 to 16 in favour of a resolution to formally begin negotiations to create a global bankruptcy process. In September, the UN General Assembly voted in favour of a legal bankruptcy framework for countries.

“The UN legal framework could prevent global financial crisis, limit country defaults and stop predatory behaviour,” said Jubilee USA, a religious group that stands for financial reforms.

The 16 countries that voted against the resolution included the US, Japan, Australia and much of theEuropean Union.

The US, the EU, Australia and Japan all expressed support for improving debt restructuring and stopping predatory funds, but these countries felt discussions should take place at the International Monetary Fund (IMF) or the Paris Club rather than the UN.

“Even among the countries that voted no, there is universal agreement on the problems,” said Eric LeCompte, executive director of Jubilee USA.

The resolution calls for the UN to create a committee that will begin work on the process, with initial meetings set for late January. The committee would be based in New York and the UN secretary-general would invite member states and other stake-holders to submit their testimonies to the committee.

The committee is expected to complete its work before September 2015.

“A global bankruptcy process is necessary to prevent global financial crisis,” said LeCompte, who serves on UN expert groups that work on these issues.

Read on.

NY banking regulator probing Barclays, Deutsche Bank’s FX algorithm – source

(Reuters) – The New York banking regulator is investigating if Deutsche Bank (>> Deutsche Bank AG) and Barclays Plc (>> Barclays PLC) used algorithms on their trading platforms to manipulate foreign exchange rates, a source with direct knowledge of the matter told Reuters.

Benjamin Lawsky, the head of New York’s Department of Financial Services (DFS), has ordered a monitor to be installed at Deutsche Bank and already has one in place at Barclays – a move that will allow him to collect greater evidence of alleged manipulation, said the source who did not want to be named.

Deutsche Bank spokeswoman Renee Calabro declined to comment but cited an earlier statement on the probes.

“Deutsche Bank has received requests for information from regulatory authorities that are investigating trading in the foreign exchange market. The Bank is cooperating with those investigations,” Calabro said, quoting the earlier statement.

Read on.

Elderly widow’s home saved; foreclosure reversed

BUFFALO, N.Y. (WIVB) – Patricia Brown seemed to be living in a bad dream that she couldn’t wake up from. The North Buffalo widow’s house on Edge Park Avenue had been sold at a city foreclosure auction to pay the back property taxes.

With help from family members, Brown paid her bills, even those from City Hall, “Every time a bill came I would pay it, and I’ve done that for my whole life,” said Brown, “There is never anything that I would not pay, because you are supposed to.”

But Brown’s daughter Debra Nasca obtained records showing the property tax bills, and the subsequent foreclosure notices were sent to Pat’s previous address, not the address on Edge Park Avenue, “Losing her house would have been devastating–she would have died.”

Faced with losing her mom’s home that the city auctioned off for less than half of what the property is worth, Nasca contacted Call 4 Action, and then hired Buffalo attorney Jeff Bochiechio to stop the sale from going through.

Bochiechio obtained a court order reversing the sale of Pat Brown’s home, ending the nightmare for Brown and her family.

“This is a permanent order of the court–of the county court, rescinding the sale completely, and returning the house back to Mrs. Brown.”

Read on.

JPMorgan Chase may need another $20 billion after Fed sets new rule

MD Grand Jury Refuses Indictment Of Cop Who Killed Man With Down Syndrome Because He Wouldn’t Leave Movie

The Source:

“They felt no further investigation was necessary,” Frederick County State’s Attorney J. Charles Smith, said about the death of Robert Ethan Saylor, 26. Smith explained at a news conference just outside of the county courthouse, that “no crime had been committed.”

Police justified their killing by explaining that Saylor, who has Down Syndrome, verbally and physically resisted their attempts to remove him from the theater, and because of his large size, the officers say they had to use three sets of handcuffs on him and placed him on his stomach for “one to two minutes.” When he showed signs of distress, officers said they administered CPR and other First Aid. However, back in February, the Chief Medical Examiner’s Office in Baltimore said that Saylor’s death was a homicide resulting from asphyxia.

The killing happened when cops arrived to force Saylor to leave a movie theater after he wanted to see “Zero Dark Thirty,” a second time.

Just as in the case of Eric Garner, the police have said that being obese, “contributed” to Saylor’s death, making him more susceptible to breathing problems.

They also added that having Down Syndrome made him more susceptible to death, but they did not explain how. Once again, police and prosecutors have proven that when there is no weapon, they will grasp at any explanation to explain why it is the victim’s fault that they died from police brutality.

Why Is The US Treasury Quietly Ordering “Survival Kits” For US Bankers?

Survival kits?? WTH???

As Free Beacon reports,

The Department of Treasury is seeking to order survival kits for all of its employees who oversee the federal banking system, according to a new solicitation.

 

The emergency supplies would be for every employee at the Office of the Comptroller of the Currency (OCC), which conducts on-site reviews of banks throughout the country. The survival kit includes everything from water purification tablets to solar blankets.

 

The government is willing to spend up to $200,000 on the kits, according to the solicitation released on Dec. 4.

 

The survival kits must come in a fanny-pack or backpack that can fit all of the items, including a 33-piece personal first aid kit with “decongestant tablets,” a variety of bandages, and medicines.

 

 

The kits must also include a “reusable solar blanket” 52 by 84 inches long, a 2,400-calorie food bar, “50 water purification tablets,” a “dust mask,” “one-size fits all poncho with hood,” a rechargeable lantern with built-in radio, and an “Air-Aid emergency mask” for protection against airborne viruses.

 

Survival kits will be delivered to every major bank in the United States including Bank of America, American Express Bank, BMO Financial Corp., Capitol One Financial Corporation, Citigroup, Inc., JPMorgan Chase & Company, and Wells Fargo.

The agency has roughly 3,814 employees, each of which would receive a survival kit. The staff includes “bank examiners” who provide “sustained supervision” of major banks in the United States.

Read on.