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  • 17:12 - 30.07.2010 News >> Latest

     Hamas Probe Leads to American FirmsAmerican investigators, cooperating in a probe of the assassination of a Palestinian leader in Dubai, have identified a handful of U.S.-based companies believed to have been used to transfer money to suspects in the case.Read Article    

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  • 16:55 - 30.07.2010 News >> Latest

     Al Gore will not be prosecuted over masseuse allegations Al Gore, the former Vice President, will not be prosecuted over allegations by a masseuse that he groped and assaulted her in his Oregon hotel room in 2006, the county prosecutor has confirmed. Read Article    

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  • 16:48 - 30.07.2010 News >> Latest

     Facebook rage of Wikileaks suspect Bradley Manning Exclusive: Prime suspect in Afghan war leaks rages against US Army.  Read Article     

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  • 11:04 - 29.07.2010 News >> Latest

     Arizona immigration law blocked by judge in temporary victory for Obama Ruling marks success for Obama administration to maintain federal control of immigration policy  Read Article    

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  • 10:52 - 29.07.2010 News >> Latest

     Britain to be the biggest country in Europe by 2050 Official forecast predicts that Britain's population will swell from 62.2 million to 77 million - an increase of 24 per cent - overtaking both France and Germany. Read Article    

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  • 04:46 - 29.07.2010 News >> Latest

     Drug Use, Poor Discipline Afflict Afghan ArmyThe U.S. strategy for leaving Afghanistan is heavily dependent on building capable Afghan military and police forces that can take over, but U.S. soldiers complain of a trigger-happy attitude, general carelessness and the use of drugs within those forces. Read Article    

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  • 04:28 - 29.07.2010 News >> Latest

      Taxes: A Defining IssueBarack Obama knows taxes define worldview. The GOP should offer voters an alternative.Read Opinion 

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  • 03:51 - 29.07.2010 News >> Latest

     Ruling Against Arizona Is a Warning for Other StatesBy JULIA PRESTON A federal judge in Arizona on Wednesday broadly vindicated the Obama administration’s high-stakes move to challenge that state’s tough immigration law and to assert the primary authority of the federal government over state lawmakers in immigration matters. The ruling by Judge Susan R. Bolton, in a lawsuit against Arizona brought on July 6 by the Justice Department, blocked central provisions of the law from taking effect while she finishes hearing the case. But in taking the forceful step of holding up a statute even before it was put into practice, Judge Bolton previewed her opinions on the case, indicating that the federal government was likely to win in the end on the main points. The decision by Attorney General Eric H. Holder Jr. to throw the federal government’s weight against Arizona, on an issue that has aroused passions among state residents, has irritated many state governors, and nine states filed papers supporting Arizona in the court case. But Judge Bolton found that the law was on the side of the Justice Department in its argument that many provisions of the Arizona statute would interfere with federal law and policy. Gov. Jan Brewer said the state would appeal the decision. Although Judge Bolton’s ruling is not final, it seems likely to halt, at least temporarily, an expanding movement by states to combat illegal immigration by making it a state crime to be an immigrant without legal documents and by imposing new requirements on state and local police officers to enforce immigration law. “This is a warning to any other jurisdiction” considering a…

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  • 20:05 - 28.07.2010 News >> Latest

     Al Gore questioned over sexual assault allegations Police question former vice-president over claims by masseuse. Read Article   

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  • 19:36 - 28.07.2010 News >> Latest

     Clooney's girlfriend named in sex and drugs scandal Elisabetta Canalis named in scandal involving high-class prostitutes Read Article    

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Amnesty Intl. calls for US to suspend arms to Israel

Amnesty calls on US to suspend arms sales to Israel

Hellfire missiles and white phosphorus artillery shells among weapons used in 'indiscriminate' attacks on civilians, says human rights group

  Link to this video

Detailed evidence has emerged of Israel's extensive use of US-made weaponry during its war in Gaza last month, including white phosphorus artillery shells, 500lb bombs and Hellfire missiles.

In a report released today, Amnesty International listed the weapons used and called for an immediate arms embargo on Israel and all Palestinian armed groups. It called on the US president, Barack Obama, to suspend military aid to Israel.

The human rights group said those arming both sides in the conflict "will have been well aware of a pattern of repeated misuse of weapons by both parties and must therefore take responsibility for the violations perpetrated".

The US has long been the largest arms supplier to Israel; under a 10-year agreement negotiated by the Bush administration the US will provide $30bn (£21bn) in military aid to Israel.

"As the major supplier of weapons to Israel, the USA has a particular obligation to stop any supply that contributes to gross violations of the laws of war and of human rights," said Malcolm Smart, Amnesty's Middle East and North Africa programme director. "To a large extent, Israel's military offensive in Gaza was carried out with weapons, munitions and military equipment supplied by the USA and paid for with US taxpayers' money."

For their part, Palestinian militants in Gaza were arming themselves with "unsophisticated weapons" including rockets made in Russia, Iran and China and bought from "clandestine sources", it said. About 1,300 Palestinians were killed and more than 4,000 injured during the three-week conflict. On the Israeli side 13 were killed, including three civilians. Amnesty said Israel's armed forces carried out "direct attacks on civilians and civilian objects in Gaza, and attacks which were disproportionate or indiscriminate".

Israeli officials criticised the report, saying the military only used weapons that were legal under international law and did not intentionally target civilians. Israel's foreign ministry said it was "inappropriate" to compare the supply of weapons to Israel and to Hamas.

"Every effort is made to avoid having innocent civilians caught up in the crossfire between us and Hamas," said Mark Regev, spokesman for the Israeli prime minister, Ehud Olmert. "The report ignores the fact Hamas deliberately used the Palestinian civilian population as a human shield."

Palestinian militants also fired "indiscriminate rockets" at civilians, Amnesty said. It called for an independent investigation into violations of international humanitarian law by both sides.

A Hamas spokesman, Fawzi Barhoum, called the report "unfair", saying there was no comparison between the Israeli military and Palestinian "people who defend themselves with some rifles and other primitive means".

Amnesty researchers in Gaza found several weapon fragments after the fighting. One came from a 500lb (227kg) Mark-82 fin-guided bomb, which had markings indicating parts were made by the US company Raytheon. They also found fragments of US-made white phosphorus artillery shells, marked M825 A1.

On 15 January, several white phosphorus shells fired by the Israeli military hit the headquarters of the UN Relief and Works Agency in Gaza City, destroying medicine, food and aid. One fragment found at the scene had markings indicating it was made by the Pine Bluff Arsenal, based in Arkansas, in October 1991.

The human rights group said the Israeli military had used white phosphorus in densely populated civilian areas, which it said was an indiscriminate form of attack and a war crime. Its researchers found white phosphorus still burning in residential areas days after the ceasefire.

At the scene of an Israeli attack that killed three Palestinian paramedics and a boy in Gaza City on 4 January, Amnesty found fragments of an AGM114 Hellfire missile, made by Hellfire Systems of Orlando, a joint venture of Lockheed Martin and Boeing. The missile is often fired from Apache helicopters.

Amnesty said it also found evidence of a new type of missile, apparently fired from unmanned drones, which exploded into many pieces of shrapnel that were "tiny sharp-edged metal cubes, each between 2 and 4mm square in size".

"They appear designed to cause maximum injury," Amnesty said. Many civilians were killed by this weapon, including several children, it said.

Rockets fired by Palestinian militants were either 122mm Grad missiles or short-range Qassam rockets, a locally made, improvised artillery weapon. Warheads were either smuggled in or made from fertiliser.

The arsenal of weapons was on a "very small scale compared to Israel", it said, adding that the scale of rocket arsenal deployed by Hizbullah in the 2006 Lebanese war was "beyond the reach of Palestinian militant groups".

Armed for war

Israelis Missiles launched from helicopters and unmanned drones, including 20mm cannon and Hellfire missiles. Larger laser-guided and other bombs dropped by F-16 warplanes. Extensive use of US-made 155mm white phosphorus artillery shells and Israeli-made 155mm illuminating shells that eject phosphorus canisters by parachute. Several deaths caused by flechettes, 4cm-long metal darts packed into 120mm tank shells, and fragments of US-made 120mm tank shells.

Palestinians Militants fired rockets into southern Israel including 122mm Grad rockets of either Russian, Chinese or Iranian manufacture, and smaller, improvised Qassam rockets often made inside Gaza and usually holding 5kg of explosives and shrapnel.

 

 

 
Atlanta Journal-Constitution Front Page

 

 

 
NYT: US to test stability of 20 biggest banks ( good details )

US to test stability of 20 biggest banks

By Edmund L. Andrews, New York Times  |  February 23, 2009

WASHINGTON - The Obama administration will begin taking a hard look at the financial condition of the country's 20 biggest banks this week to judge whether they could hold up even if the downturn worsens further than policy makers already expect.

These reviews of the banks' books, known as "stress tests," are heightening a dilemma for Obama aides about how candid they should be about the health of banks like Citigroup and Bank of America. The tests are expected to take several weeks.

Bank shares were pummeled last week, partly out of deepening fear that the government might nationalize some of the banks. Officials consider many of the top 20 banks "too big to fail."

The tests come as anxiety is building among investors and industry analysts about the Treasury Department's broader plans to shore up the overall banking system. People familiar with the plan, which has been criticized by industry executives and analysts as vague, say its crucial details may not be ready for another few weeks.

In another sign of distress for the banks, Citigroup officials were in talks with federal regulators last night about plans for the government to take a bigger ownership stake in the bank, according to a person close to the talks.

Citigroup approached the regulators with a plan that would allow them to convert a large amount of the government's $45 billion of preferred shares, which is treated as debt, into common stock, the person said.

Converting the preferred shares while also issuing more common shares would bring Citigroup closer to the mix of equity that the government is likely to demand when it rolls out the new stress test.

But that would severely dilute the value of shares held by existing Citigroup stockholders.

Still, the big banks say they remain relatively healthy, and that with time and support from the government, they will regain their footing.

But many economists, Wall Street analysts, and even some bank executives contend that some of the banks are already effectively insolvent.

Even though banks have reported billions of dollars of losses from bad loans, these critics say, the major institutions still carry trillions of dollars in additional toxic assets and are too damaged to resume normal lending.

This camp says it would be best to nationalize some of them now - with the government wiping out shareholders and taking over the operation of some institutions, at least temporarily - rather than to drag out the process while the economy spirals further downward.

The stress tests will use computer-run "what if" situations to estimate what would happen to each bank under Depression-like conditions, with unemployment surging to 10 or 12 percent, for example, or home prices dropping 20 percent further, Treasury and Federal Reserve officials said. 

 

 

 
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