News Shorts For June 10th 2013

Edward Snowden: The Whistleblower Behind the NSA Surveillance Revelations 

The individual responsible for one of the most significant leaks in US political history is Edward Snowden, a 29-year-old former technical assistant for the CIA and current employee of the defense contractor Booz Allen Hamilton. Snowden has been working at the National Security Agency for the last four years as an employee of various outside contractors, including Booz Allen and Dell.

Yippee! More Bank Runs in Our Future

Robert Lenzner of Forbes advises that you and I will be blindsided by the next financial crisis. Lenzner bases his reasoning on Yale economist Gary Gorton’s recent book Misunderstanding Financial Crises, Why We Don’t See Them Coming. According to Gorton the old-fashioned bank run is back, only in a different form. The recent financial crisis was different from earlier ones in that it was not initiated by bank depositors scrambling to withdraw their funds. Rather it was precipitated by a “run” among short-term lenders who had purchased banks’ commercial paper or lent money to banks through “repos” (repurchase agreements). When these lenders suddenly tried to liquidate these assets by selling them or not renewing the loans, their actions deprived banks of the short-term funds that the banks had been using to finance their long-term lending and investments.

Al-Qaeda expanding its control over Yemen, say leaders

Almost simultaneously, President Barack Obama told the American people his anti-terrorism strategy is keeping Americans safe, including his NSA surveillance program, while Yemen‘s President Abd-Rabbu Mansour Hadi all but raised the white flag on Saturday during a meeting of his government’s civilian and military leaders.

Report: Obama’s False Claims About Immigration Reform

In his weekly address, President Barack Obama claimed the Senate “Gang of  Eight” immigration bill would require illegal immigrants to learn English to  earn their citizenship.

“This bill would provide a pathway to earned citizenship for the 11 million  individuals who are already in this country illegally–a pathway that includes  passing a background check, learning English, paying taxes and a penalty, and  then going to the back of the line behind everyone who’s playing by the rules  and trying to come here legally,” Obama said.

While that claim would quell a lot of criticism of the bill if it were true,  it simply is not accurate.

As Breitbart News has previously reported, when illegal immigrants apply for  “registered provisional immigrant” status under the provisions of the bill, the  first step in legalization, they do not need to demonstrate that they can speak  English. When they apply for renewal of their RPI status, they still do not need  to prove they can speak English.

Newark Mayor Booker formally joins NJ Senate race

NEWARK, N.J. (AP) — Newark Mayor Cory Booker, who formally declared his candidacy for U.S. Senate on Saturday, now finds himself competing in a primary against like-minded Democratic congressmen that will be decided in mid-summer, when exceptionally low voter turnout threatens his early advantage.

Sen. Rand Paul Seeking Class-Action Lawsuit Over Gov’t Record-Trolling

“I’m going to be seeing if I can challenge this at the Supreme Court  level,” Sen. Rand Paul (R-Ky.) told “Fox News Sunday.” “I have no problem  if you have probable cause and you target people who are terrorists and  you go after them and people that they’re communicating with — you get  another warrant. But we’re talking about trolling through billions of  phone records. We’re not talking about going after a terrorist,” Paul  said.

The Right of Secession and the Benefits of Independence for the South

“Secession belongs to a different class of remedies. It is to be justified upon the basis that the States are sovereign. There was a time when none denied it. I hope the time may come again, when a better comprehension of the theory of our Government, and inalienable rights of the people of the States, will prevent any one from denying that each State is a sovereign, and thus may reclaim the grants which it has made to any agent whomsoever.” –  Jefferson Davis Farewell Address to U.S. Senate, 21 Jan. 1861

Those 7 times when government employees had too much fun on your dime

Earlier this week, a House committee grilled IRS officials for spending stacks of taxpayer cash on lavish conferences and silly training videos. In light of the hearing, we thought we’d take a look at a few times when government employees had too much fun using your tax dollars.

Armed Robbery Suspect’s Widow Sues Store Clerk

A wrongful death lawsuit has been filed in New Mexico by the widow and child of an armed robbery suspect against the store clerk who shot him.

According to news reports, Ramon Sedillo walked into Full Spectrum Smoke Shop with a gun, intending to rob the store. Instead, store clerk Matthew Beasley fired his gun, killing Sedillo and injuring his 17-year-old accomplice.

The civil lawsuit claims Beasley was in the wrong because store surveillance video shows Beasley watching Sedillo and his accomplice get ready for the crime and Beasley had sufficient time to call the police or leave the store before firing his gun at the suspected robbers. Instead, the lawsuit alleges Beasley decided to “ambush” the thieves.

“He had no basis to believe that his life was in danger,” Sedillo’s attorney, Amavalise Jaramillo, said.  “Most robberies end with an attempt to get money.  They really don’t kill the clerks.”

Beasley’s attorney, Tom Briones, claims there was no time to call police.

“Mr. Sedillo pulled out a gun and pointed it right at him,” Briones said.  “That prompted Mr. Beasley to pull his gun and fire his weapon.”

The lawsuit also names the clerk’s boss for allowing him to work, knowing he had a gun, and the Albuquerque Police Department for holding the widow against her will for four hours of questioning and telling her to call her husband when the officers knew he was dead.

—Source: (New Mexico)

Trial to begin in Trayvon Martin case

How we use words 101.

An article from the left: George Zimmerman, who fatally shot the unarmed teen in Florida, is charged with second-degree murder. He’s claimed self-defense. His attorney plans to portray Martin as a troublemaker.

From my Free thinking friend Rich Galen

There is a serious issue about Edward Snowdens’ and Bradley Mannings’ (the U.S. soldier who copied and sent miles of secret messages to Wikileaks) claims that they were looking out after you and me. As a taxpayer, I’m not paying you to look out after my Fourth Amendment rights.  I’m paying you to do whatever job you were hired to do and if you find that job too ethically distasteful then quit. But keep your mouth shut. If everyone is allowed to decide for themselves what is legal and/or ethical and what is not, then society – not just American society – will collapse.

Editor’s Note: I don’t agree….. one, Edward Snowden did quit, two… its obvious no one else is looking after our 4th Amendment rights …. three ethic’s is not a sliding scale.

FDA’s flawed call on Aveo’s Tivozanib

When the FDA got together with the Oncologic Drugs Advisory Committee (ODAC) in early May to discuss whether to approve Aveo Pharmaceutical’s (AVEO) Tivozanib for the treatment of renal cell carcinoma (RCC), it would be fair to say the FDA reception was not what AVEO was expecting. After all, they were so sure of approval they had interviewed and hired sales staff and planned launch details, even down to deciding upon the kind of cars their sales reps would be driving. Instead, the FDA was merciless, ripping apart Aveo, Tivozanib, the phase 3 trial design and data, and just about…

A Rogues’ Gallery of Social Security Fraudsters

One-fourth of Social Security disability benefits were improperly awarded, according to a Senate report published last September. Outright fraud accounts for a lot of that. National Review Online thought you might like to put a face to the phenomenon, so here’s our Top Ten list of the most outrageous disability cheaters of the past year: No. 10: The Marijuana Entrepreneur In 2011, federal agents raided more than two dozen medical-marijuana businesses in Montana. At the Missoula home and warehouse of Scott Lee Hubeny, 48, they found 243 marijuana plants, several pounds of marijuana, and processing equipment. It was a profitable..

Legal Guns en Route to New York Are Cause for Arrest Before Flight Home

A subset of visitors to New York City looks, on the surface, just like the rest. Some are high profile, like the boxer this year, and the football player, and the Tea Party leader from California. They are joined by the anonymous: the military wife from Minnesota, and the hazardous waste expert. There was a minister, and a surgeon, and someone in pest control. What sets them apart is what each brings along on a visit to the city. A handgun. The guns are legally owned, with the home state permits all in order. The visitors have locked the gun…

Five IRS Scandal Myths: Rogue agents,” apolitical targeting, and a limited time frame? Not so fast.

The Obama administration and its defenders have done their best to downplay the IRS’s targeting of conservative groups, and to distance the president from the scandal. But in doing so they have made numerous claims that have that turned out to be grossly misleading — at best. 1. It was a few rogue agents in Cincinnati This claim has crumbled in recent weeks. Lois Lerner, the IRS’s director of Exempt Organizations, who has refused to testify before Congress, was the first to blame “our line people in Cincinnati” for initiating the targeting. Former IRS commissioner Steven Miller said two “rogue”…

Goldman Sachs’ Forecasts For The Global Financial Markets In One Tiny Table

There isn’t a whole lot on the economic  or earnings calendar this week until Thursday.

Perhaps now’s a good time for a mid-year assessment of your investments.

For what it’s worth, here’s a table rounding up Goldman Sachs’ forecast for  everything:

goldman sachs financial forecasts


 America in the Midst of a Coup d’Etat

Late yesterday afternoon I was sitting in the library at home, and I was just swamped. It seemed like every 90 seconds somebody needed something, or somebody had a question or somebody had a comment, requiring my response. It was during the period of time that I generally devote to reading my tech blogs, you know, where I abandon all of this and get away from it and start spending time on, quote, unquote, my hobby.

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