The Arnold Palmer
9 hours ago
Taxpayers have lent AIG $132.6 billion, but getting that money back is looking less likely.Can taxpayers get the bonus cash back now from this swindle? Read More......
The sale of AIG's Asian life insurance unit for more than $35 billion would have helped a lot, but the deal went bust this week when the buyer, Prudential PLC, sought a lower price.
Now the troubled insurer is essentially back to square one with its repayment strategy -- though AIG Chief Executive Robert Benmosche remains upbeat about the options regarding AIA, and maintains that AIG will pay back its loans in full.
Aids groups in South Africa have accused Fifa of banning the distribution of condoms at World Cup stadiums and other venues.Read More......
The Aids Consortium and other groups also criticised a block on the distribution of safe sex information at stadiums and fan parks, even though alcohol can be advertised.
South Africa has the world's largest number of HIV carriers, with an estimated 5.7 million people infected – about one in every five adults. There are around 1,400 new HIV infections every day and nearly 1,000 Aids deaths.
This has prompted calls for a health initiative to prevent the virus spreading as hundreds of thousands of football fans pour into the country for the World Cup, which starts next Friday.
The spill has brought verbal attacks on BP from everyone up to Barack Obama, who said yesterday during his third trip to the gulf region: "What I don't want to hear is, when they're spending that kind of money on their shareholders and spending that kind of money on TV advertising, that they're nickeling and diming fishermen or small businesses here in the gulf who are having a hard time."Read More......
In the face of such criticism, Hayward insisted that he had a "thick jacket", adding: "They've thrown some words at me, but I'm a Brit. Sticks and stones may break my bones but words will never hurt me."
NEW ORLEANS | I have obtained a copy of the almost-600-page BP Regional Oil Spill Response Plan for the Gulf of Mexico as of June, 2009, thanks to an insider. Some material has been redacted, but these are the three main takeaways from an initial read. The name of the well has been redacted, but if it's not Deepwater Horizon, then there's another rig still out there pumping oil and aimed at Plaquemines Parish.
1) In the worst case discharge scenario (on chart below), an oil leak was expected to come ashore with highest probability in Plaquemines Parish within 30 days (see map above from the Advance Response Plan). This makes it clear that BP could have stored adequate boom there before a rig failure like the Deepwater Horizon, and workers could have been mobilized to apply the boom in the 30 days that the response plan predicted oil would hit our wetlands.Read More......
2) Spokespersons were advised never to assure the public that an ecosystem would be back to normal after the worst case scenario, which we are now living through. "No statements shall be made concerning any of the following: promises that property, ecology, or anything else will be restored to normal." Even in BP CEO Tony Hayward's new television commercial his assurance is an ambiguous, "We will make this right," which does not specifically address preserving or restoring America's Wetlands.
3) Corexit oil dispersant toxicity has not been tested on ecosystems, according to the Oil Spill Response Plan. "Ecotoxilogical effects: No toxicity studies have been conducted on this product." It is contradictory that the question and answer section discusses the choice of a dispersant with: "Have environmental tradeoffs of dispersant use indicated that use should be considered? Note: This is one of the more difficult questions" and "Has the overflight to assure that endangered species are not in the application area been conducted?" Brown pelicans and sea turtles would have been the answer to the latter.
Don't worry about the oil spilling into the Gulf, Rep. Don Young (R-Alaska) says, because the worst spill in U.S. history is "not an environmental disaster," just nature taking its course.Read More......
"This is not an environmental disaster, and I will say that again and again because it is a natural phenomenon," Young said after Congressional hearings last week. "Oil has seeped into this ocean for centuries, will continue to do it. During World War II there was over 10 million barrels of oil spilt from ships, and no natural catastrophe. ... We will lose some birds, we will lose some fixed sealife, but overall it will recover."
Young, of course, has notoriously close and longstanding ties with oil companies, and went on to criticize the Obama administration's stated moratorium on new offshore drilling permits in the wake of the Gulf spill.
The smell of oil hangs heavy in the sea air. Children with plastic shovels scoop up clumps of goo in the waves. Beachcombers collect tarballs as if they were seashells.Read More......
The BP catastrophe arrived with the tide on the Florida Panhandle's white sands Friday as the company worked to adjust a cap over the gusher in a desperate and untested bid to arrest what is already the biggest oil spill in U.S. history. The widening scope of the slow-motion disaster deepened the anger and despair just as President Barack Obama arrived for his third visit to the stricken Gulf Coast.
The oil has now reached the shores of four Gulf states — Louisiana, Mississippi, Alabama and Florida — turning its marshlands into death zones for wildlife and staining its beaches rust and crimson in an affliction that some said brought to mind the plagues and punishments of the Bible.
Mr Hortefeux was joking with a small group of activists from the ruling UMP party in south-west France.Read More......
Immediately before Mr Hortefeux's controversial remark, one activist is heard saying: "Amin is a Catholic. He eats pork and drinks alcohol."
Mr Hortefeux then says: "Ah, well that won't do at all. He doesn't match the prototype."
A woman is then heard to say: "He is one of us... he is our little Arab."
The interior minister then says: "We always need one. It's when there are lots of them that there are problems."
The court ruled that his remark was "incontestably offensive, if not contemptuous".
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