Monthly Archives: June 2012

Barclay’s May Face Criminal Charges

Labour leader Ed Miliband has called for a criminal investigation into the scandal and said anyone found to have broken the law should face prosecution.

Chancellor George Osborne is due to give a statement to the House of Commons on the Barclays scandal at midday.

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Barclay’s CEO apologizes for LIBOR Fraud

Banking giant Barclays is to pay penalties of £290 million to settle claims that it manipulated the interbank lending rate.

The bank was fined £59.5 million – the largest imposed by City watchdog the FSA – and also agreed payments to authorities in the US.

Chief executive Bob Diamond apologised for the incident and said that he and fellow executives Chris Lucas, Jerry del Missier and Rich Ricci have agreed not to take a bonus this year.

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Debt Relief Most Effective Technique In Combating Foreclosures

NEW YORK (CNNMoney) — Reducing the amount struggling homeowners owe on their mortgages is proving to be a more effective way to prevent foreclosures than other methods, such as reducing interest rates or postponing payments, a new report finds.

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Debt Relief  is one of the tenets of a Framework for Peace as outlined in the book A World Without War.

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Matt Taibbi: America’s Biggest Banks Use Mafia Techniques

Someday, it will go down in history as the first trial of the modern American mafia. Of course, you won’t hear the recent financial corruption case, United States of America v. Carollo, Goldberg and Grimm, called anything like that. If you heard about it at all, you’re probably either in the municipal bond business or married to an antitrust lawyer. Even then, all you probably heard was that a threesome of bit players on Wall Street got convicted of obscure antitrust violations in one of the most inscrutable, jargon-packed legal snoozefests since the government’s massive case against Microsoft in the Nineties – not exactly the thrilling courtroom drama offered by the famed trials of old-school mobsters like Al Capone or Anthony “Tony Ducks” Corallo.

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Germany Sets Record For Solar Energy Usage

German solar power plants produced a world record 22 gigawatts of electricity – equal to 20 nuclear power stations at full capacity – through the midday hours of Friday and Saturday, the head of a renewable energy think tank has said … Norbert Allnoch, director of the Institute of the Renewable Energy Industry in Muenster, said the 22 gigawatts of solar power fed into the national grid on Saturday met nearly 50% of the nation’s midday electricity needs.

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How To Develop Systems Thinkers

How do NASA’s systems engineers develop the skills they need to think effectively about the complex systems they develop? How do people outside formal systems-engineering roles improve their ability to see connections across subsystem and organizational boundaries? What can NASA management do to facilitate the development of systems thinkers in its workforce? A collaboration between NASA and a university research group addressed these challenging questions.

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IEA: Invest 36 Trillion Into a Sustainable Energy Future

NEW YORK (CNNMoney) — The International Energy Agency said the world’s clean energy investments are sorely lacking and this week called for an additional $36 trillion of funding by 2050.

In a sharply-worded introduction to a 700-page report,  IEA Executive Director Maria van der Hoeven said governments and private industry need to do far more if the world is to hold global warming to what most scientists say is an acceptable level.

“Our ongoing failure to realize the full potential of clean energy technology is alarming,” said van der Hoeven. “Under current policies, both energy demand and emissions are likely to double by 2050.”

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At the recent Green Festival in New York,  A World Without War author D.R. Thompson gave a similar message to the Feather Project, stating we need to put trillions of dollars into an accelerated effort toward a sustainable economy and energy infrastructure — see video below.

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Krugman: Banks Get Bailouts, Unemployed Left Behind

So there’s nothing necessarily wrong with this latest bailout (although a lot depends on the details). What’s striking, however, is that even as European leaders were putting together this rescue, they were signaling strongly that they have no intention of changing the policies that have left almost a quarter of Spain’s workers — and more than half its young people — jobless.

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American’s Wealth Dropped Nearly 40% During Recession

The median family’s net worth dropped 38.8 percent during  the three-year period, the Fed said in its latest report on  changes in U.S. Family Finances, derived from a survey of  consumer finances. Fed economists told reporters that this was  the biggest drop in net worth since the survey started in 1989.

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