Showing posts with label Fed's. Show all posts
Showing posts with label Fed's. Show all posts

Monday, March 31, 2014

Here Come The Feds: FBI Probing HFT

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Here Come The Feds: FBI Probing HFT

Monday, March 17, 2014

Did SF Fed"s John Williams Just Predict The Next Recession??

At Not Just The News, the privacy of our visitors is of extreme importance to us (See this article to learn more about Privacy Policies.). This privacy policy document outlines the types of personal information is received and collected by Not Just The News and how it is used.


Log Files


Like many other Web sites, Not Just The News makes use of log files. The information inside the log files includes internet protocol (IP) addresses, type of browser, Internet Service Provider (ISP), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user"s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.


Cookies and Web Beacons


Not Just The News does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.


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You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. Not Just The News"s privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.


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Did SF Fed"s John Williams Just Predict The Next Recession??

Thursday, February 27, 2014

Weather seems to blame for U.S. slowdown, Fed"s Yellen says

(Reuters) – Unusually harsh winter weather appears to be behind recent signs of weakness in the U.S. economy, Federal Reserve Chair Janet Yellen said on Thursday, suggesting the central bank was poised to press forward in ratcheting back its stimulus.


Reuters: Top News



Weather seems to blame for U.S. slowdown, Fed"s Yellen says

Wednesday, February 19, 2014

FEDS IN DC CLOSED 25% OF TIME!

At Not Just The News, the privacy of our visitors is of extreme importance to us (See this article to learn more about Privacy Policies.). This privacy policy document outlines the types of personal information is received and collected by Not Just The News and how it is used.


Log Files


Like many other Web sites, Not Just The News makes use of log files. The information inside the log files includes internet protocol (IP) addresses, type of browser, Internet Service Provider (ISP), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user"s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.


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FEDS IN DC CLOSED 25% OF TIME!

Tuesday, February 18, 2014

VIDEO: Guardian Newspaper Destroys Snowden Files While UK Feds Look On

At Not Just The News, the privacy of our visitors is of extreme importance to us (See this article to learn more about Privacy Policies.). This privacy policy document outlines the types of personal information is received and collected by Not Just The News and how it is used.


Log Files


Like many other Web sites, Not Just The News makes use of log files. The information inside the log files includes internet protocol (IP) addresses, type of browser, Internet Service Provider (ISP), date/time stamp, referring/exit pages, and number of clicks to analyze trends, administer the site, track user"s movement around the site, and gather demographic information. IP addresses, and other such information are not linked to any information that is personally identifiable.


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Not Just The News does use cookies to store information about visitors preferences, record user-specific information on which pages the user access or visit, customize Web page content based on visitors browser type or other information that the visitor sends via their browser.


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You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. Not Just The News"s privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.


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VIDEO: Guardian Newspaper Destroys Snowden Files While UK Feds Look On

Monday, January 27, 2014

Missouri Set to Arrest Feds Over Gun Control Enforcement



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Minimize the power of the federal government and use the sovereign power of the states and state’s rights. This is how Americans will restore our Constitutional Republic.
What Missouri lawmakers are working on today is a perfect example.


A Missouri Senate panel is taking up legislation that would send federal agents to jail for enforcing federal gun control laws in the state.


The measure being heard by the Senate General Laws Committee today would declare certain federal gun control policies “null and void.” Agents enforcing them could spend a year in jail, be fined up to $ 1,000 and face other civil penalties.


The bill would also allow designated school personnel to carry concealed weapons in buildings. Another provision would let holders of concealed gun permits carry firearms openly, even in municipalities with ordinances banning open carry.


The legislation is sponsored by Republican Sen. Brian Nieves, of Washington. A similar bill passed the Republican-led Legislature last year, but was vetoed by Democratic Gov. Jay Nixon.


Read more at WBIW TV


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Missouri Set to Arrest Feds Over Gun Control Enforcement

Tuesday, January 14, 2014

Fed"s low rate vow not too high a price to pay for taper: Fisher

Fed"s low rate vow not too high a price to pay for taper: Fisher
http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif




DALLAS Tue Jan 14, 2014 2:50pm EST



DALLAS Jan 14 (Reuters) – The Federal Reserve’s promise last month to keep rates near zero until after unemployment falls to 6.5 percent was part of the horse-trading on policy that also resulted in a decision to begin paring the Fed’s bond-buying program, a top Fed official suggested on Tuesday.


“I didn’t find the 6.5 percent, or well past 6.5 percent, to be too high a price to pay for that cutback of $ 10 billion,” Dallas Federal Reserve Bank President Richard Fisher told reporters after a speech here.


The Fed in December decided to cut its bond-buying program to $ 75 billion a month from $ 85 billion. It also said it would keep rates low until well past the time unemployment falls to 6.5 percent. It registered 6.7 percent in December.


“I’m not uncomfortable with statement that was issued, but I think we need to discuss this further,” Fisher said.



Reuters: Bonds News




Read more about Fed"s low rate vow not too high a price to pay for taper: Fisher and other interesting subjects concerning Bonds at TheDailyNewsReport.com

Thursday, December 19, 2013

Feds Bust West Point Cadet, 23, Who Sought "Hardcore" Child Pornography

At Those Damn Liars, the privacy of our visitors is of extreme importance to us (See this article to learn more about Privacy Policies.). This privacy policy document outlines the types of personal information is received and collected by Those Damn Liars and how it is used.

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Feds Bust West Point Cadet, 23, Who Sought "Hardcore" Child Pornography

Tuesday, December 10, 2013

Cops and Feds Routinely ‘Dump’ Cell Towers to Track Everyone Nearby





Photo: barryskeates/Flickr



The nation’s mobile phone carriers received more than 9,000 requests last year for cell-tower dumps, which identify every mobile phone at a particular location and time, often by the thousands.


The revelation, revealed in a congressional inquiry, underscore that domestic authorities, from the FBI to the local police, are performing a massive amount of surveillance on Americans on domestic soil sometimes without probable-cause warrants.


Figures provided by the nation’s largest carriers T-Mobile, Sprint, Verizon and AT&T, and smaller companies like C-Spire and Cricket, show that the carriers overall got as many as 1.1 million requests for customer cellular data last year. They’ve earned tens of millions of dollars processing the data, the records show.


The governments requests, most of which were honored, include data for, among other things, the geo-location of a device, call detail records, texts message contents, voicemail, cell tower dumps, wiretapping, subscriber information, and websites visited.


But the most startling figures show that the authorities are obtaining information on the whereabouts of perhaps thousands of people at once, often by a judge’s signature based on assurances from the authorities that the data is relevant to an investigation.


A myriad of factors determine how many people are caught in the web of one of these so-called “cell-tower dumps” or “searches,” including the time, location and a mobile-phone tower’s capacity. The data from a dump can provide a wealth of information regarding whoever is carrying a mobile phone in a tower’s area — from the phone number to various device information pointed to a phone’s account.


According to Verizon: (.pdf)


Although we do not specifically track the details of each tower request, our experience is that we typically receive requests for less than 30 minutes (e.g., where law enforcement is already able to pinpoint the time of a crime). But we also receive requests covering more than an hour (e.g., where there has been a crime spree). When we receive a demand for a longer period, cognizant that the cell tower dump will contain many mobile device numbers, we will often ask law enforcement to narrow the scope of the time period or accept reports run for shorter, incremental periods, even if the longer time period was approved by a judge. The number of mobile device numbers per cell tower dump depends on many factors including the location of the tower and the time day. A major event (like the Boston Marathon) may lead to a substantial increase in the number of mobile device numbers communicating with a tower at a given time.



Sprint said it “provided approximately 6,000 cell tower searches (.pdf) to law enforcement agencies.” T-Mobile did not answer the question.


The responses were released today as part of an inquiry by Sen. Edward Markey (D-Massachusetts).


“As law enforcement uses new technology to protect the public from harm, we also must protect the information of innocent Americans from misuse, said Markey, who is a member of the Commerce, Science and Transportation Committee. “We need a 4th amendment for the 21st century. Disclosure of personal information from wireless devices raises significant legal and privacy concerns, particularly for innocent consumers. That is why I plan to introduce legislation so that Americans can have confidence that their information is protected and standards are in place for the retention and disposal of this sensitive data.”


The disclosures come amid revelations from NSA whistleblower Edward Snowden that National Security Agency snoops are harvesting as many as 5 billion records daily, without warrants, to track mobile phones as they ping nearby cell towers across the globe.


The law on cell-site locational tracking — while generally favorable to the government — is far from clear. Courts are offering mixed rulings on whether warrants are needed, and the Supreme Court has yet to take a case to resolve the issue.


Markey’s proposed legislation, which he is expected to drop within the coming weeks, would require probable-cause warrants for mobile-phone location tracking “to believe it will uncover evidence of a crime. This is the traditional standard for police to search individual homes.”


Chris Calabrese, the legislative counsel for the American Civil Liberties Union, said: “The idea that police can obtain such a rich treasure trove of data about any one of us without appropriate judicial oversight should send shivers down our spines. There is an easy fix to part of this problem – President Obama and members of Congress should pass legislation that updates our outdated privacy laws by requiring law enforcement to get a probable cause warrant before service providers disclose the contents of our electronic communications to the government. Anything less is unnecessarily invasive and un-American.”


The figures, meanwhile, while showing that the carriers are all over the map in terms of whether warrants are required for dumps, also reveal that the carriers keep the data for differing time periods, too. For example, U.S. Cellular and Verizon keeps cell-tower data for a year. T-Mobile (.pdf)  and Sprint retain it for 180 days and AT&T five years. Markey would like to see a nationwide, uniform approach to that.


AT&T said the average cell-tower dump was 80 minutes. (.pdf) The company said it charged $ 10.3 million last year furnishing thousands of request for data to the authorities last year. Verizon, which reported 2,400 tower dumps, said it charged “less than” $ 5 million last year to comply with all government demands for customer and cell-site monitoring.




Threat Level



Cops and Feds Routinely ‘Dump’ Cell Towers to Track Everyone Nearby

Friday, November 22, 2013

Fed"s Tarullo details plans to counter bank runs

Fed"s Tarullo details plans to counter bank runs
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/09d69__p-89EKCgBk8MZdE.gif





WASHINGTON Fri Nov 22, 2013 1:47pm EST



WASHINGTON (Reuters) – Global regulators should have more policy tools to counter the risk of devastating bank runs and should have powers over a wide array of market participants, U.S. Federal Reserve Governor Dan Tarullo said on Friday.


“There is a need to supplement prudential bank regulation with a third set of policy options in the form of regulatory tools that can be applied on a market-wide basis,” Tarullo said at a conference on shadow banking.


Tarullo also detailed the Fed’s plans to make new rules that would make it less attractive for banks to raise cash in short-term wholesale funding markets, a key factor in the collapse of Lehman Brothers in 2008.


Banks that substantially rely on short-term funding in the interbank market should be required to hold more capital on top of what is already mandated by international rules under the so-called Basel III pact, Tarullo said.


Tarullo, who is the central bank’s main policymaker on financial regulation, announced the Fed was working on a short-term funding rule earlier this year.


He said that international regulators should also consider ramping up capital requirements for matched books of repurchasing – or repo – agreements, which are a prominent part of the shadow banking system.


“Current versions of capital and liquidity standards do not deal with matched book issues,” he said.


Thirdly, regulators should address risk in such transactions regardless of whether they were executed by banks or by other market participants, such as hedge funds.


The Financial Stability Board, in which global regulators cooperate, was already working on plans to do so, Tarullo said, but he said he disagreed with some of the details, and presented some alternative ideas.


(Editing by Dan Grebler)






Reuters: Business News




Read more about Fed"s Tarullo details plans to counter bank runs and other interesting subjects concerning Business at TheDailyNewsReport.com

Thursday, November 21, 2013

Fed"s Bullard: QE and policy promises our best tools now

Fed"s Bullard: QE and policy promises our best tools now
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/92ad7__p-89EKCgBk8MZdE.gif



James Bullard, President of the St. Louis Federal Reserve Bank, speaks during an interview with Reuters in Boston, Massachusetts August 2, 2013.


Credit: Reuters/Brian Snyder




Reuters: Economic News




Read more about Fed"s Bullard: QE and policy promises our best tools now and other interesting subjects concerning Economy at TheDailyNewsReport.com

Tuesday, November 19, 2013

Fed"s Yellen: policy to stay easy after threshold crossed -letter

Fed"s Yellen: policy to stay easy after threshold crossed -letter
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/601cd__p-89EKCgBk8MZdE.gif



Janet Yellen, President Barack Obama’s nominee to lead the U.S. Federal Reserve, is sworn in to testify at her U.S. Senate Banking Committee confirmation hearing in Washington November 14, 2013.


Credit: Reuters/Jason Reed




Reuters: Economic News




Read more about Fed"s Yellen: policy to stay easy after threshold crossed -letter and other interesting subjects concerning Economy at TheDailyNewsReport.com

Fed"s Yellen: Policy to stay easy after threshold crossed - letter


Janet Yellen, President Barack Obama’s nominee to lead the U.S. Federal Reserve, is sworn in to testify at her U.S. Senate Banking Committee confirmation hearing in Washington November 14, 2013.


Credit: Reuters/Jason Reed




Reuters: Top News



Fed"s Yellen: Policy to stay easy after threshold crossed - letter

Monday, November 18, 2013

Not yet enough US growth for sustained labor boost -Fed"s Dudley

Not yet enough US growth for sustained labor boost -Fed"s Dudley
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/2daf8__p-89EKCgBk8MZdE.gif



NEW YORK Mon Nov 18, 2013 1:10pm EST



NEW YORK Nov 18 (Reuters) – The Federal Reserve has not yet seen enough U.S. economic growth momentum to convince policymakers of a sustained improvement in the labor market outlook, New York Fed President William Dudley said on Monday.


Talking to students at Queens College, Dudley said low inflation and high unemployment point to the need for accommodative policies for a considerable period of time. For now, he added, the benefits of bond buying outweigh the costs, and there are no current signs of “disturbing” asset bubbles.



Reuters: Bonds News




Read more about Not yet enough US growth for sustained labor boost -Fed"s Dudley and other interesting subjects concerning Bonds at TheDailyNewsReport.com

Fed"s message of no rate hike until 2015 is sinking in: study

Fed"s message of no rate hike until 2015 is sinking in: study
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/f21a6__?m=02&d=20131118&t=2&i=812923077&w=460&fh=&fw=&ll=&pl=&r=CBRE9AH1E3J00.jpg





SAN FRANCISCO Mon Nov 18, 2013 1:02pm EST



A general view of the U.S. Federal Reserve building as the morning sky breaks over Washington, July 31, 2013. REUTERS/Jonathan Ernst

A general view of the U.S. Federal Reserve building as the morning sky breaks over Washington, July 31, 2013.


Credit: Reuters/Jonathan Ernst




SAN FRANCISCO (Reuters) – The Federal Reserve has effectively communicated its commitment to ultra-easy policy, so that economists and traders correctly understand that interest rates will likely stay near zero until “sometime in 2015,” according to a Fed study published on Monday.


The paper, published in the latest Economic Letter from the Federal Reserve Bank of San Francisco, looks in detail at data through late May. At that time, the researchers said, investors and economists expected a first Fed rate hike around mid-2015, based on economist surveys and Treasury yields interpreted in light of near-zero rates.


Although the paper does not explicitly say so, the decline in market rates since May — when Fed Chairman Bernanke offered a timeline for the end of the Fed’s massive bond-buying program that now sees too aggressive — suggests that traders may now see the Fed’s first rate hike as coming even later.


Convincing the public that the U.S. central bank will keep rates low for a long time is a key pillar of the Fed’s super-easy monetary policy, which seeks to stoke investment and hiring by keeping borrowing costs down.


Economist surveys and U.S. Treasury yields both show that most are buying the idea that low rates are here to stay for quite a while, the paper said.


“Our estimates suggest that the (Fed)’s forward guidance has been effective in pushing out the expected liftoff horizon, which has contributed to lower interest rates, easing financial conditions and adding stimulus to the economy,” wrote San Francisco Fed economist Michael Bauer and the bank’s research director Glenn Rudebusch.


“Recent estimates of policy liftoff generally suggest the first funds rate hike will occur sometime in 2015.”


The authors cautioned that reading expected future rate rises in the Treasury yield curve requires more finesse than simply looking at the first point on the graph where Treasury yields suggest rates could rise.


Reading the yield curve in such a simple way “will generally underestimate the time until liftoff” based on the Fed’s own forecasts and those of economists, the authors said, because near-zero short-term rates distort the curve as a reading of the most likely timing of a rate hike.


A case in point: In May 2013, a simple reading of the yield curve would have suggested the first Fed rate hike as coming in September 2014 — more than six months earlier than could be concluded using the authors’ own model of interpreting forward rates.


“Interpreted correctly, both the survey and market measures of policy liftoff appear generally consistent with the (Fed)’s formal guidance,” they wrote.


The Fed does not in its formal statement provide a date for when it expects to begin to raise rates. It does publish forecasts from Fed policymakers, the majority of whom see rates first rising in 2015.


Exactly when in 2015 is still an open question. And on that score, the San Francisco Fed researchers are silent.


(Reporting by Ann Saphir; Editing by Leslie Adler)






Reuters: Business News




Read more about Fed"s message of no rate hike until 2015 is sinking in: study and other interesting subjects concerning Business at TheDailyNewsReport.com

Monday, November 11, 2013

Feds Deploy National Spy System of Microphones to Record Conversations


Hidden in plain sight: The next level of NSA snooping will detect dissent via ubiquitous audio sensors


Paul Joseph Watson & Alex Jones
Prison Planet.com
November 11, 2013


Feds Deploy National Spy System of Microphones to Record Conversations 111113nsa


The revelations of Edward Snowden shone fresh light on NSA spying targeting the American people, but what has gone largely unnoticed is the fact that a network of different spy systems which can record real time conversations are already in place throughout many urban areas of the United States, as well as in the technology products we buy and use on a regular basis.


These systems are no secret – they are hiding in plain view – and yet concerns about the monolithic potential for their abuse have been muted.


That lack of discussion represents a massive lost opportunity for the privacy community because whereas polls have shown apathy, indifference, or even support for NSA spying, anecdotal evidence suggests that people would be up in arms if they knew the content of their daily conversations were under surveillance.


The dystopian movie V for Vendetta features a scene in which goons working for the totalitarian government drive down residential streets with spy technology listening to people’s conversations to detect the vehemence of criticism against the state.


Such technology already exists or is rapidly being introduced through a number of different guises in America and numerous other developed countries.


The Washington Post recently published a feature length article on gunshot detectors, known as ShotSpotter, which detailed how in Washington DC there are now, “at least 300 acoustic sensors across 20 square miles of the city,” microphones wrapped in a weather-proof shell that can detect the location of a sound down to a few yards and analyze the audio using a computer program.


While the systems are touted as “gunshot detectors,” as the New York Times reported in May 2012, similar technology is already installed in over 70 cities around the country, and in some cases it is being used to listen to conversations.


“In at least one city, New Bedford, Mass., where sensors recorded a loud street argument that accompanied a fatal shooting in December, the system has raised questions about privacy and the reach of police surveillance, even in the service of reducing gun violence,” states the report.


Frank Camera, the lawyer for Jonathan Flores, a man charged with murder, complained that the technology is “opening up a whole can of worms.”


“If the police are utilizing these conversations, then the issue is, where does it stop?” he said.


This led the ACLU to warn that the technology could represent a clear violation of the Fourth Amendment if misused.


The ACLU’s Jay Stanley asked, “whether microphones can be remotely activated by police who want to listen to nearby conversations,” noting that it was illegal for police “to make audio recordings of conversations in which they are not a participant without a warrant.”


“If the courts start allowing recordings of conversations picked up by these devices to be admitted as evidence, then it will provide an additional incentive to the police to install microphones in our public spaces, over and above what is justified by the level of effectiveness the technology proves to have in pinpointing gun shots,” wrote Stanley.


Eventually, if indeed it is not already happening in some major metropolitan areas, voices will be linked to biometric facial profiles via the Trapwire system, which allows the government to monitor citizens via public and private CCTV networks.


As we have also previously highlighted, numerous major cities in the Unites States are currently being fitted with Intellistreets ‘smart’ street lighting systems that also have the capability of recording conversations and sending them directly to authorities via wi-fi.


As we reported on Sunday, the Las Vegas Public Works Department has begun testing the devices, which act as surveillance cameras, Minority Report-style advertising hubs, and Homeland Security alert systems. As ABC 7 reported in 2011, they are “also capable of recording conversations.”


Televisions, computers and cellphones are already utilizing technology that records conversations in order to bombard users with invasive targeted advertising. Last year, Verizon followed Google’s lead and officially filed a patent for a set-top box that will actively spy on Americans in their own homes by turning TVs into wiretaps.


The patent application says that the technology will be capable of detecting “ambient action” including “cuddling, fighting and talking” in people’s living rooms.


The box will even listen to your conversations, according to the communication giant’s patent.


“If detection facility detects one or more words spoken by a user (e.g., while talking to another user within the same room or on the telephone), advertising facility may utilize the one or more words spoken by the user to search for and/or select an advertisement associated with the one or more words,” the document states.


In an article we published back in 2006, we highlighted the fact that, “Digital cable TV boxes, such as Scientific Atlanta, have had secret in-built microphones inside them since their inception in the late 1990′s.”


This technology is now commonplace, with products like the Xbox utilizing in-built microphones to allow voice control. Microsoft promises that it won’t use the microphones to record your conversations, which is a fairly hollow guarantee given that Microsoft collaborated with the NSA to allow the federal agency to bypass its encryption services in order to spy on people.


App providers on the Android network also now require users to agree to a condition that, “Allows the app to record audio with the microphone,” on cellphones and other ‘smart’ devices. “This permission allows the app to record audio at any time without your confirmation,” states the text of the agreement.


Virtually every new technological device now being manufactured that is linked to the Internet has the capability to record conversations and send them back to a central hub. Is it really any wonder therefore that former CIA director David Petraeus heralded the arrival of the “smart home” as a boon for “clandestine statecraft”?


Whistleblowers such as William Binney have warned that the NSA has virtually every US citizen under surveillance, with the ability to record all of their communications. The agency recently completed construction of a monolithic heavily fortified $ 2 billion facility deep in the Utah desert to process and analyze all of the information collected.


If the revelations of Edward Snowden taught us one thing then it’s that if the NSA has the capability to use a technology to spy on its primary target – the American people – then it is already doing so.


This network of computer programs, urban wi-fi infrastructure and technological products inside our homes that all have the capability of recording our conversations represents an even more invasive and Orwellian prospect than anything Edward Snowden brought to light, and yet discussion of its threat to fundamental privacy has been virtually non-existent.


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*********************


Paul Joseph Watson is the editor and writer for Infowars.com and Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a host for Infowars Nightly News.


This article was posted: Monday, November 11, 2013 at 12:54 pm









Prison Planet.com



Feds Deploy National Spy System of Microphones to Record Conversations

Friday, November 1, 2013

Fed"s Kocherlakota makes no comment on policy in prepared remarks

Fed"s Kocherlakota makes no comment on policy in prepared remarks
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/11/5ad71__p-89EKCgBk8MZdE.gif



Minneapolis Federal Reserve Bank President Narayana Kocherlakota speaks at a macro-finance conference hosted by the Boston Federal Reserve Bank and Boston University in Boston, Massachusetts November 30, 2012.


Credit: Reuters/Brian Snyder




Reuters: Economic News




Read more about Fed"s Kocherlakota makes no comment on policy in prepared remarks and other interesting subjects concerning Economy at TheDailyNewsReport.com

Monday, June 17, 2013

Feds dig for Hoffa"s remains


Hank Walker / Time Life Pictures / Getty Images file



President of Teamsters union Jimmy Hoffa makes a phone call.




By Sophia Rosenbaum, Staff Writer, NBC News


The search for Jimmy Hoffa has stretched far and wide for nearly 40 years. Now, federal agents are digging in a field 30 miles north of Detroit in hopes of solving the mystery of his disappearance.


A team of agents descended on a field in northern Oakland Township, Mich., on Monday after a former Mafia underboss said Hoffa’s remains were buried there, NBC affiliate WDIV reported.


Hoffa, a former president of the Teamsters labor union, was last seen in suburban Detroit in July 1975. He was declared legally dead on July 30, 1982. His body has never found.


But that may change in the next few days if Tony Zerilli is to be believed. Zerilli, who spoke publically about Hoffa in January, is considered one of a handful of people who may know what happened to Hoffa because his father, Joseph Zerilli, was the Detroit mob boss when Hoffa disappeared.


The property where authorities are searching Monday was formerly owned by Jack Tocco, Zerilli’s cousin. The FBI reportedly believes Hoffa was killed by organized crime because of a power struggle within the labor union.






Feds dig for Hoffa"s remains

Feds dig for Hoffa"s remains


Hank Walker / Time Life Pictures / Getty Images file



President of Teamsters union Jimmy Hoffa makes a phone call.




By Sophia Rosenbaum, Staff Writer, NBC News


The search for Jimmy Hoffa has stretched far and wide for nearly 40 years. Now, federal agents are digging in a field 30 miles north of Detroit in hopes of solving the mystery of his disappearance.


A team of agents descended on a field in northern Oakland Township, Mich., on Monday after a former Mafia underboss said Hoffa’s remains were buried there, NBC affiliate WDIV reported.


Hoffa, a former president of the Teamsters labor union, was last seen in suburban Detroit in July 1975. He was declared legally dead on July 30, 1982. His body has never found.


But that may change in the next few days if Tony Zerilli is to be believed. Zerilli, who spoke publically about Hoffa in January, is considered one of a handful of people who may know what happened to Hoffa because his father, Joseph Zerilli, was the Detroit mob boss when Hoffa disappeared.


The property where authorities are searching Monday was formerly owned by Jack Tocco, Zerilli’s cousin. The FBI reportedly believes Hoffa was killed by organized crime because of a power struggle within the labor union.






Feds dig for Hoffa"s remains

Sunday, June 2, 2013

Fed"s Pianalto: More transparency would aid financial stability



WASHINGTON | Fri May 31, 2013 9:44am EDT



WASHINGTON (Reuters) – Greater transparency has helped the Federal Reserve make U.S. monetary policy more effective and could enhance financial stability by deepening public trust in the quality of banks, a senior Fed official said on Friday.


“Credibility is crucial for financial firms and for supervisors, just as it is for the monetary authority,” Cleveland Federal Reserve President Sandra Pianalto told a conference on financial stability hosted by the Fed.


“Credibility accumulates when there is public confidence and market confidence that rules are clear and are being followed – by the supervisors as well as by the financial firms,” she said.


The Fed has been forced to hold interest rates near zero since late 2008 and launch an unprecedented campaign of asset purchases to shield the economy from a severe recession, following a financial crisis caused by reckless speculation by banks on the subprime U.S. housing market.


Congress imposed new financial rules which were introduced under Dodd-Frank legislation in the aftermath of that shock, and supervisors now conduct stress tests to ensure big banks have sufficient capital to withstand sharp market falls.


But Pianalto suggested widening the scope of these probes in an effort to provide greater insight into a bank’s resilience.


“Stress tests could be broadened to explicitly consider the effects of a bank’s stress on its most important counterparties. This would be especially useful if many banks each rely on the same small set of counterparties for certain kinds of transactions,” she said.


Fed officials have repeatedly voiced concern over the liquidity risk that could stem from a panic in wholesale funding markets and is working with the industry and other supervisors to develop minimum leverage ratios for large financial firms.


“Another way to improve information transparency is to provide the public with more information about the quality of bank assets. For example, regulators could require disclosure of material information on a firm’s portfolio risk structure,” she said.


(Reporting by Alister Bull; Editing by Chizu Nomiyama and James Dalgleish)





Reuters: Economic News



Fed"s Pianalto: More transparency would aid financial stability