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Wednesday, 26 March 2014

March 26, 2014: News Updates

China currency liberalisation to be a "seismic event" - Australia

SYDNEY Wed Mar 26, 2014 8:11am IST
(Reuters) - China realising its ambitions to internationalise the yuan is likely to be a "seismic event" for global markets, leading to large capital flows and perhaps a new reserve currency, a top Australian central banker said on Wednesday.

 Silence on ECB Bank Review May Break on Legal Blind Spot

mar 26/14
The European Central Bank will soon find out how hard it can be to keep a secret.
The ECB’s plan to keep its health check on euro-area lenders under wraps until the completion of a stress test in October could be undermined by national rules requiring disclosure far sooner.

Bank of America to pay $9.3 billion to settle mortgage bond claims

Wed Mar 26, 2014 4:42pm EDT
WASHINGTON (Reuters) - Bank of America will pay $9.3 billion to Fannie Mae and Freddie Mac to settle claims that it sold them faulty mortgage-backed securities during the housing bubble, a U.S. regulator said on Wednesday.

Push in Sardinia for online vote on independence from Italy

Published time: March 26, 2014
he island of Sardinia plans to hold an online referendum on independence from Italy, following in the footsteps of country’s northeastern Veneto region, where a similar vote revealed high separatist moods.

Over 2 million people in Veneto took part in the internet referendum on March 16-21, with 89 per cent of them voting in favor of cutting ties with Rome.

‘Too big to fail’ status gives US banks ‘free pass’ – Fed study

Published time: March 26,

Breakingviews: Italy’s corp gov purge could backfire (2:33)

Mar. 26 - Rome wants state-controlled firms to eject board members under criminal investigation for financial offences. Probity is laudable but this plan could hurt the innocent and create harmful uncertainty.

California state Sen. Leland Yee arrested in corruption case

Updated 1:14 pm, Wednesday, March 26, 2014

3 Secret Service agents benched before Obama trip

By JOSH LEDERMAN / Associated Press / March 25, 2014

Banks have already been paid for mortgages

If banks sell mortgages to investors, via the securitisation industry, how were they ever bust?
Pension funds, insurance companies, hedge funds, etc, buy mortgages and pay banks the principal, plus a premium up front as a lump-sum payment.Therefore, the bank is paid in full, once, for the mortgage....

*This story aired on FOX news and was immediately removed.

Air France said Wednesday that a plane carrying 495 passengers and 22 crew was diverted on its way from Shanghai to Paris after Russia closed part of its airspace because of the launch of a Russian spacecraft to the International Space Station.

Snag delays arrival of Soyuz capsule carrying Russian-American crew at space station

Published March 25, 2014
BAIKONUR, Kazakhstan –  An engine snag has delayed the arrival of a Russian spacecraft carrying three astronauts to the International Space Station until Thursday, NASA said on Wednesday.

The new billionaire political bosses-

march 26 14
Charles and David Koch should not be blamed for having more wealth than the bottom 40 percent of Americans put together. Nor should they be condemned for their petrochemical empire. As far as I know, they’ve played by the rules and obeyed the laws.
They’re also entitled to their own right-wing political views. It’s a free country.
But in using their vast wealth to change those rules and laws in order to fit their political views, the Koch brothers are undermining our democracy. That’s a betrayal of the most precious thing Americans share.

Opinion: Time to rein in the climate change carbon baggers

Why are World Economic Forum, IMF and World Bank being so obstinate in maintaining an increasingly discredited position?

Vatican removes German 'bishop of bling' over luxury home

VATICAN CITY Thu Mar 27, 2014 12:33am IST
(Reuters) - The Vatican removed a German bishop on Wednesday because he spent 31 million euros ($43 million) of Church funds on an extravagant residence when Pope Francis was preaching austerity.

Rothschild Inherits a Semiconductor Patent For Freescale Semiconductors -

Bloomberg editor resigns over disagreements with editorial policy

 Does Our System Select for Incompetent Sociopaths?   (March 26, 2014)

What is the shelf life of a system that rewards confidence-gaming sociopaths rather than competence?
Let's connect the dots of natural selection and the pathology of power.

Egypt's Sisi to resign as minister, pave way for presidential bid-report

Wed Mar 26, 2014 3:11pm EDT
CAIRO (Reuters) - Field Marshal Abdel Fattah al-Sisi was expected to step down as Egypt's defense minister on Wednesday, paving the way for him to run for president in an election he is expected to win easily.