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Thursday, October 20, 2011


ANNAPOLIS (October 20, 2011) – Maryland Democratic Party Chair Yvette Lewis issued the following statement today after the State Senate and House of Delegates passed, and the Governor signed the Congressional Districting Plan.

“The map that passed today by an overwhelming majority of the General Assembly and signed by the Governor reflects the largely Democratic population growth over the last decade, creates more competitive districts across the State and is the result of Governor O’Malley’s open, fair and transparent process that took into account the opinions of community leaders, elected officials, and citizens. Democrats are prepared to run aggressive, grassroots campaigns in every district to ensure Maryland continues to be represented by strong, principled Democratic leaders in Congress. I am confident that our message of promoting job creation, fighting for the middle class and investing in the future, coupled with the out-of-touch policies of Maryland Republicans, will result in the election of more Democrats in 2012.”


During the first week of October 2011, Ocean City Police Narcotics detectives received information about a large shipment of Marijuana that was destined for a person in West Ocean City.

Narcotics detectives determined that the shipment of Marijuana was coming from the western part of the United States.

Based on the investigation, OCPD Narcotics Unit detectives with the assistance of the Worcester County Sheriff’s Criminal Enforcement Team obtained a Search and Seizure warrant for the suspect, his unit and vehicle which were located at 12704 Old Bridge Road in West Ocean City.
(707 Cottages)

On October 7, 2011, police executed the Search and Seizure Warrant. As a result of the Search and Seizure Warrant, investigators seized the following items:

• Package containing 1lb and 1 oz of marijuana
• 6 additional bags of marijuana containing 4 additional oz of marijuana
• Several MDMA tablets
• Scales
• 2 computers
• Cell Phone
• $310 in cash

As a result of the investigation two persons have been arrested and charged as follows:

• Edward Dale Cropper Jr., 26, of The Villages, Florida has been charged with Possession of Marijuana with the Intent to Distribute, Possession of Marijuana, Possession of CDS Paraphernalia
• Susan Degregory, 52, of Ft. Lauderdale, Florida has been charged with Possession of MDMA.

Both Cropper and Degregory were seen by an Ocean City, District Court
Commissioner. Degregory was released on her own recognizance and Cropper
was held on $25,000.00 bond. Cropper has been transferred to the Worcester
County Jail.

BREAKING NEWS: Senate Confirms Commerce Secretary

Senate votes 74-26 to confirm John Bryson as Obama's new commerce secretary

From Fox News

'Adult Baby' Claims Disability Checks Will Continue Despite Coburn Complaint

Talk about the nanny state.

A man living as an "adult baby" in California claims the federal government will allow him to continue collecting Social Security disability checks, after investigators apparently closed the probe into his case requested by Sen. Tom Coburn.

Stanley Thornton drew the outrage of Coburn, an Oklahoma Republican, after he was featured on the National Geographic Channel show "Taboo" earlier this year. Coburn asked for an investigation from the Social Security Administration, questioning why he was allowed to receive federal benefits -- all the while living part of his life as a baby, sleeping in a crib and drinking from a bottle.



ANNAPOLIS, MD (October 20, 2011) – Governor Martin O’Malley today joined Maryland Senate President Thomas V. Mike Miller and Maryland House Speaker Michael E. Busch to announce that the state’s Legislative Policy Committee has approved a $9.5 million conditional loan to Frederick-based Bechtel Power Corp. that will retain the company’s operations and a minimum of 1,250 full-time jobs in the State through 2018. As a result of the loan, Bechtel Power – a global leader in the design and construction of energy sources and a subsidiary of California-based Bechtel Corp. – will consolidate its operations on its Frederick campus. In addition to preserving 1,250 high paying jobs, the deal will also support an additional 2,300 indirect jobs and generate more than $11 million annually in state taxes.

“Our most important priority continues to be creating and retaining jobs – the kinds of high-wage, highly-skilled jobs that will sustain Maryland’s economy for today and for decades to come,” said Governor O’Malley. “Working with Bechtel’s leadership to retain their operations here, we are preserving 1,250 jobs and ensuring that this innovative company continues to call Maryland home.”

“The State of Maryland makes substantial investments in our public schools and institutions of higher education because we are committed to preparing our workforce for the challenges of the 21st century economy,” said President Miller. “Bechtel recognizes that Maryland’s workforce is among the most talented and innovative in the nation, and I am pleased they will continue to operate in Frederick County.”

“Our number one job is supporting private sector investment and building private sector confidence in Maryland’s economy,” said Speaker Michael E. Busch. “The Sunny Day Fund was created for extraordinary economic development opportunities, like Bechtel. I am pleased that we can make this strategic investment in a growing area of our State to retain 1250 jobs.”

“We are pleased to retain our Power business in Frederick.  We first moved to Frederick in 1999 and have found it to be a welcome community to locate our Power business’ headquarters,” said Bill Dudley, Bechtel president and chief operating officer.

The loan funds will come from the Maryland Department of Business and Economic Development’s Economic Development Opportunities Program Fund, also known as the Sunny Day Fund. The approval of the Legislative Policy Committee is required before any funds can be disbursed.

Bechtel Corp. operates through five global business units that specialize in civil infrastructure; power generation; communications and transmission; mining and metals; oil, gas and chemicals; and government services. Since its founding in 1898, Bechtel has worked on more than 22,000 projects in 140 countries on all seven continents. Bechtel’s 65-year old Power Division has a portfolio of more than 400 fossil-fueled plants, 150 nuclear generating units, 50 waste-to-energy projects, 50 coal gasification projects, and a number of commercial applications for renewable energy.

Why We Need To Blame The Fed For The Financial Crisis

To know what is wrong with the Federal Reserve, one must first understand the nature of money. Money is like any other good in our economy that emerges from the market to satisfy the needs and wants of consumers. Its particular usefulness is that it helps facilitate indirect exchange, making it easier for us to buy and sell goods because there is a common way of measuring their value. Money is not a government phenomenon, and it need not and should not be managed by government. When central banks like the Fed manage money they are engaging in price fixing, which leads not to prosperity but to disaster.

The Federal Reserve has caused every single boom and bust that has occurred in this country since the bank's creation in 1913. It pumps new money into the financial system to lower interest rates and spur the economy. Adding new money increases the supply of money, making the price of money over time—the interest rate—lower than the market would make it. These lower interest rates affect the allocation of resources, causing capital to be malinvested throughout the economy. So certain projects and ventures that appear profitable when funded at artificially low interest rates are not in fact the best use of those resources.

Eventually, the economic boom created by the Fed's actions is found to be unsustainable, and the bust ensues as this malinvested capital manifests itself in a surplus of capital goods, inventory overhangs, etc. Until these misdirected resources are put to a more productive use—the uses the free market actually desires—the economy stagnates.

Girl Scouts Add New "Good Credit" And "Finance" Badges

The Girl Scouts just finished their first redesign of their badges in 25 years, adding several new ones that will appeal to Consumerist readers.

More »

Fraudulent Defense Contractors Paid $1 Trillion

WASHINGTON, Oct. 20 - Hundreds of defense contractors that defrauded the U.S. military received more than $1.1 trillion in Pentagon contracts during the past decade, according to a Department of Defense report prepared for Sen. Bernie Sanders.

Sanders (I-Vt.) called the report "shocking." He said aggressive steps must be taken to ensure taxpayer dollars aren't wasted.

"The ugly truth is that virtually all of the major defense contractors in this country for years have been engaged in systemic fraudulent behavior, while receiving hundreds of billions of dollars of taxpayer money," said Sanders. "With the country running a nearly $15 trillion national debt, my goal is to provide as much transparency as possible about what is happening with taxpayer money."


How To Avoid Cyberscams Surrounding Gadhafi's Death

Just because a link comes from a friend, it does not mean it's safe to click

The death of Muammar Gadhafi is likely to spur online scammers into action with promises of 'exclusive' video and pictures of the former Libyan leader's death.

The breaking news that deposed Libyan leader Moammar Gadhafi has been killed has been spreading across the world this morning (Oct. 20), and like any captivating story, it's likely to spur opportunistic online scammers into action.

According to several reports, Gadhafi died just after 4:00 p.m. (EET) after a violent attack near his hometown of Sirte. His bloodied body was loaded on top of a vehicle and driven to Misrata, where it was surrounded by a crowd chanting, "The blood of the martyrs will not go in vain," The Associated Press reported.

Gruesome video footage on Al Jazeera shows what appears to be Gadhafi's body, either wounded or dead, lying in the street. By all accounts, this video is real, and watching it from Al Jazeera's official website will not harm your computer. But there are sure to be hundreds of fraudulent Web pages popping up that aren't nearly as safe.

Online scammers know that videos and pictures, especially if they're "exclusive," have an amazing power to lure in people desperate for immediate results. Phony Web pages promising never-before-seen videos appeared following the death of Osama Bin Laden, and they are nearly guaranteed to show up now.

Bagged Salad Recalled For Possible Salmonella Contamination

More than 3,000 cases of bagged salad blends were recalled by Taylor Farms Retail due to worries about possible samonella contamination. The precautionary move followed a random test on a package of spinach by the State of Washington Department of Agriculture, the Salinas, Calif., company said Wednesday.

There have been no reported illnesses linked to the recalled products.



Special Session generates vital discussions on job creation, economic development and the State’s infrastructure needs in preparation for the 2012 legislative session

ANNAPOLIS, MD (October 20, 2011) – Governor Martin O’Malley today joined Senate President Thomas V. Mike Miller, Jr., House Speaker Michael E. Busch, and Lieutenant Governor Anthony G. Brown to sign Senate Bill 1, emergency legislation creating new districts for congressional elections based on the 2010 census.

“To the people of Maryland, thank you for your voice, your input and your suggestions, and to all of the members of the General Assembly, thank you for giving fair, open and timely consideration and ultimately approval, to the recommendation of the Committee,” said Governor O’Malley. “Over the course of Special Session, we were able to have vital and meaningful discussions about job creation and the importance of addressing our State’s infrastructure deficit as we prepare for the 2012 legislative session. Together, we can move forward on creating jobs for our families, recognizing that the most important job we create is the next one.”

During the Special Session, Lt. Governor Brown testified before a joint hearing of the Maryland House and Senate about the importance of investing in infrastructure projects to create jobs and boost the economy. The hearing was the first of two held Tuesday to explore job creation opportunities through transportation and infrastructure projects and through streamlining government processes to make it easier to do business in Maryland.

“Special Session has provided an important opportunity to fulfill our Constitutional duty while advancing ideas for creating jobs and promoting sustainable economic growth in Maryland,” said Lt. Governor Anthony G. Brown, who testified before the General Assembly this week about the need to create jobs by investing in infrastructure projects. “Job creation remains our most pressing need, and I look forward to working closely with Governor O’Malley and the General Assembly to develop a jobs package that will invest in our infrastructure so we can put Marylanders back to work and build a brighter economic future.”

On Monday, Governor O’Malley, joined by Senate President Thomas V. Mike Miller Jr. and House Speaker Michael E. Busch, announced a plan to spark job creation in Maryland and to build consensus for a comprehensive jobs package for the 2012 legislative session through a series of joint legislative hearings. The Governor also signed an Executive Order calling for a 60 day review by State agencies of current State regulations that can be reformed or eliminated to help spark job creation. Suggestions and comments on regulations can be made by visiting the Maryland Made Easy web site.

"The Governor's Redistricting Advisory Committee conducted a fair and open process, successfully balancing the interests of our citizens with the changes in our state's population," said President Miller. "I would like to offer my deep gratitude to Secretary Hitchcock for her leadership of the Committee, and my thanks to the Governor and the Speaker of the House for their leadership during the special session."
“I’d like to thank Governor O’Malley, President Miller, members of the Redistricting Advisory Committee and the House of Delegates for their work on the Congressional map,” said Speaker Michael E. Busch. “This map reflects Census growth, public input from across the entire State, and maintains 70% of voters in their existing Congressional districts.”

VIC Issues Bank Of America As "Terminal Short" Thesis the Gotham Capital controlled pseudo-secret portal where hedge fund managers everywhere would sell both their kidneys  to be members of, as pitched ideas tend to move markets on a regular basis, and never to be confused with Whitney Tilson's pale immitation, has just released a new thesis on Bank of America, which is oddly comparable to ideas suggested by Zero Hedge over the years. The thesis summary is rather self-explanatory: "Bank Of America equity is worthless. CFC-related litigation is going from bad to worse, it can lead to violent erosion of shareholders' equity which. Combined with the run on the bank that has slowly begun, the $53 trillion in derivatives, the lack of sustainable competitive advantages and the depleting political influence, I believe this is a terminal short." The rest is rather self-explanatory as well. Now: how many hedge fund managers will use this herd aggregation signal and pile in on the short side?


The Business Of Government

Amid the din of economic nonsense being bandied about since the collapse of the housing bubble and the steep ramping up of our national debt, there has been the persistent refrain that Washington should be run more like a business. If only more business people were in charge to wield their business acumen, we would have this country in shape in no time. But is that a good solution?

Businesses seek primarily to increase their revenues and profits. Government revenue depends on taxes. Government accumulates taxmoney by squeezing it out of people's productive earnings with threats of audits, fines and imprisonment. Our government already collects roughly $2.1 trillion annually from the productive taxpayers of America. We hardly need to increase our federal government's revenues like a private business!


Senior S&L Prosecutor: Bank of America Pulling A Decades-Old Scam

Bank of America Is Pulling the Scam Which Banks Have Pulled for Decades

Professor of economics and law – and the senior S&L prosecutor who put more than 1,000 top executives in jail for fraud (Bill Black) writes today:
Lewis and his successor, Brian Moynihan, have destroyed nearly one-half trillion dollars in BAC shareholder value [through control fraud]. (See my prior post on the “Divine Right of Bank Profits…”) BAC continues to deteriorate and the credit rating agencies have been downgrading it because of its bad assets, particularly its derivatives. BAC’s answer is to “transfer” the bad derivatives to the insured bank – transforming (ala Ireland) a private debt into a public debt.
Banking regulators have known for well over a century about the acute dangers of conflicts of interest. Two related conflicts have generated special rules designed to protect the bank and the insurance fund. One restricts transactions with senior insiders and the other restricts transactions with affiliates. The scam is always the same when it comes to abusive deals with affiliates – they transfer bad (or overpriced) assets or liabilities to the insured institution. As S&L regulators, we recurrently faced this problem. For example, Ford Motor Company attempted to structure an affiliate transaction that was harmful to the insured S&L (First Nationwide). The bank, because of federal deposit insurance, typically has a higher credit rating than its affiliate corporations.
BAC’s request to transfer the problem derivatives to B of A was a no brainer – unfortunately, it was apparently addressed to officials at the Fed who meet that description. Any competent regulator would have said: “No, Hell NO!” Indeed, any competent regulator would have developed two related, acute concerns immediately upon receiving the request. First, the holding company’s controlling managers are a severe problem because they are seeking to exploit the insured institution. Second, the senior managers of B of A acceded to the transfer, apparently without protest, even though the transfer poses a severe threat to B of A’s survival. Their failure to act to prevent the transfer contravenes both their fiduciary duties of loyalty and care and should lead to their resignations.
I would bet large amounts of money that I do not have that neither B of A’s CEO nor the Fed even thought about whether the transfer was consistent with the CEO’s fiduciary duties to B of A (v. BAC). We took depositions during the S&L debacle in which senior officials of Lincoln Savings and its affiliates were shocked when we asked “whose interests were you representing – the S&L or the affiliate?” They had obviously never even considered their fiduciary duties or identified their actual client.

Mom Pleads Guilty To Feeding Kids Beer, Cocaine

4-year-old son, 10-month-old daughter in state custody

A Connecticut mother has pleaded guilty to charges that she forced her 4-year-old son to drink beer and gave her 10-month-old daughter beer and cocaine.

Study Confirms Your Worst Fears About Public Potties

No. 1: A new study on the germ orgies going down in America’s public restrooms truly puts the “P” in repulsive, repugnant and “Hey, how awesome are my Depends?”

No. 2: If you can, maybe just hold it until you get home.


Former Lobbyists Are In Top Spots On Toomey's Staff

Some of the top spots on Sen. Pat Toomey's (R-Pa.) staff are occupied by former lobbyists.

The lawmaker is one of 12 members on the Joint Select Committee on Deficit Reduction, or "super committee." LegiStorm is profiling the revolving door ties of these dozen members.

LegiStorm has identified at least four of Toomey's current staffers who previously lobbied, including his chief of staff, Chris Gahan. We have also found an additional 14 former Toomey staffers who have also registered as lobbyists, moving through the revolving door between K Street and Capitol Hill.

Greek Protests Are NWO Scam?

Protests in Athens bring Greece to standstill amid austerity vote ... Protesters in Athens fought running battles with riot police as a general strike brought Greece to a standstill before the adoption of painful new austerity measures. UK Telegraph

Dominant Social Theme: This is an independent protest and expression of people's anger. Beware of people power.


What Chinese Unemployment?

"There is gold in them thar hills!"

Occasionally we read in various columns of mainstream journalists that the Chinese have shot themselves in the foot when they (in violence of Friedmanite precepts) failed to revalue their currency upwards. The world will retaliate by imposing punitive tariffs, creating horrible unemployment in China and causing civil unrest.
These journalists should be careful in making wishes, because they may just get what they've wished for. One of these days China may open its mint to gold and silver, setting the example to Asia and the Muslim world and, possibly, to South America. Other countries may follow suit. That will be the ultimate revaluation that restores trade relations to normalcy, at least in that part of the world that returns to the gold standard.

There was a time when unemployment "insurance" and other forms of dole were unknown in the United States. That was during the time when the country was on the gold standard and deflation meant an increase in the value (purchasing power) of gold. Whenever this happened, the battle cry inevitably was: "There is gold in them thar hills," and people who had lost their jobs typically went out prospecting and panning for gold. Panning for gold always gave them an income and a chance to save some capital. The country did very well, thank you very much, with this "natural unemployment insurance." The bottom line was: More gold for the economy. More gold cured the disease – deflation – and soon things were back to normal. Unemployment did not have a chance to become "structural."

Of course, given the present anti-gold mindset – as seen in the thinking of the Fed and the government – today large-scale prospecting for gold is prevented in the name of "protecting the environment." Keynesian economists say that they have the perfect substitute for more gold coming to the economy; namely, printed paper money, which also has the advantage that you can fine-tune its creation from a central control panel, the central bank. What they forget is that their "ersatz" gold is highly counter-productive. Rather than easing the debt problem plaguing the economy, they make it worse thereby perpetuating, even aggravating, the unemployment situation.


MDGOP Comments on General Assembly Passage Of Partisan Gerrymandered Map And Next Step

Annapolis - Yesterday, the House of Delegates passed Governor O'Malley's offensive gerrymandered Congressional District Plan. Maryland Republican Party Chairman Alex Mooney issued the following statement:

"Yesterday's vote shows the true cost of one-party rule here in Maryland. The good alternative plans to the Governor's map were either killed in Committee, or were voted down by the Democrat majority on the floor of the House and Senate. The map passed by the legislature violates the Voting Rights Act in that it does not provide for the creation of a third Majority-Minority district."

"The Maryland Republican Party fully supports the efforts of the Fannie Lou Hamer PAC to ask the courts in intervene to ensure fair representation of minorities under the Voting Rights Act. Marylanders have a right to fair district lines that represent true communities of interest rather than partisan political interests," Mooney concluded.

Thanks to the 99 Percent Movement, Media Finally Covering Jobs Crisis And Marginalizing Deficit Hysteria

Part of the reason economic policymakers have failed to properly address the poor economy is because the nation’s news media has not properly covered the unemployment crisis. For example, at the beginning of August, when Washington, DC was debating the debt ceiling crisis, the national debt dominated the airwaves. While it was appropriate for the media then to be covering the deficit due to the debt ceiling debate at the time, there was a stunning lack of coverage of the jobs crisis. A ThinkProgress review of the media coverage of the last week of July found that the word “debt” was mentioned more than 7,000 times on MSNBC, CNN, and Fox News, and “unemployed” was only mentioned 75 times:





Occupy Wall Street A Counter To White-Collar Fraud

Broadcasting on the road from Kansas City, Missouri, we’re joined by William Black, a white-collar criminologist, former financial regulator, and author of "The Best Way to Rob a Bank is to Own One." Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy Kansas City. "If you look [at the Occupy protests], not just nationwide, but worldwide, you will see some pretty consistent themes developing," Black says. "Those themes include: we have to deal with the systemically dangerous institutions, the 20 biggest banks that the administration is saying are ticking time bombs, that as soon as one of them fails, we go back into a global crisis. We should fix that. There’s no reason to have institutions that large. That’s a theme. That accountability is a theme, that we should put these felons in prison... That we should get jobs now, and that we should deal with the foreclosure crisis. So those are four very common themes that you can see in virtually any of these protest sites... I think, over time, you won’t necessarily have some grand written agenda, but you’ll have, as I say, increasing consensus. And it’s a very broad consensus."


O'Malley Signs Congressional Redistricting Bill

ANNAPOLIS, Md. (AP) -- Gov. Martin O'Malley has signed legislation outlining Maryland's congressional redistricting map.

The Democratic governor signed the measure on Thursday, shortly after the state Senate took a final vote to correct about 24 typographical errors in the bill.


Rand Paul Grills Geithner

Rand Paul got to question Treasury Secretary Geithner at a hearing today. Senator Paul does a great job of working in some Austrian Theory on interest rates and grilling Geithner on why interest rates are not left up to the markets. Too bad he only had 5 minutes.


Housing Starts Soar 15%, Confusing Keynesians Once Again

Housing starts rose 15 percent,  a seasonally adjusted rate of 658,000. That blew away Keynesian  econometric forecasts of an increase to a 590,000-unit rate.

Starts surged in September at their fastest annual pace in 17 months on a big increase in groundbreaking for multi-family units.Housing starts for buildings with two or more units climbed a remarkable 51.3 percent to a 233,000-unit rate. Single-family home construction increased 1.7 percent to a 425,000-unit pace.

Bottom line: Bernanke is printing money, it is getting into the system and impacting the economy. Krugman and crew will be scratching their beards over this one.


Flooding On Fitzwater Street

BREAKING NEWS: U.S. Predator Drone Fired On Qaddafi Convoy

Defense official confirms to Fox News that armed U.S. Predator drone, along with French fighter plane, fired on Libyan dictator Muammar Qaddafi’s convoy.
From Fox News

Krugman Sees The Global Inflation That Is Coming

Paul Krugman writes today on the EuroZone crisis:
There was some excitement yesterday over reports that the European were going to establish a 2 trillion euro rescue fund. Was this the “big bazooka” needed to put an end to the debt crisis? No....

First, when you try to figure out how the thing might work, it turns out to have much less lending capacity than early reports suggested.

Second, who’s backing this thing? Even France is looking a bit shaky, so it’s unclear how it’s supposed to work if government Treasuries are the guarantors. What you really need is open-ended funding from the European Central Bank, and that’s not yet on the table....


How's This For Social Unrest?

In his seminal work The Rise and Fall of the Third Reich, William Shirer recounts how the struggling Weimar Republic printed its way out of reparation debt from World War I. Out-of-control printing caused the German mark to fall from 75 per dollar in 1921, to more than 4 billion just 3-years later.

Talk about chaos. After a brief period of credit-fueled economic respite, the onset of the global depression in 1929 had people in the streets clamoring for change. Hitler's National Socialism promised the world... and under such economic distress, people believed him.

There are two important lessons here. First is that hyperinflation comes very quickly. Confidence languishes for months, even years... until one day the currency begins to slide, slowly at first, then exponentially.

The second is what followed. Economic disaster begets social unrest, the two are inextricably linked. Populist rebellions and roving gangs became a constant presence in the republic.

It's at this point, when people are really hurting, they're the most impressionable. They're looking for somebody, anybody, to lead them out of the turmoil. What they got was a charismatic leader with a grand plan.

Here in Cambodia, a similar story unfolded in the 1970s.


Citi Joins Goldman And JPMorgan In Settling Fraudulent And Misleading CDO Practices: Wristslap Costs $285 Million

And so Citi becomes the third firm after Goldman and JPM to put all their gross CDO criminal (wait, allegedly, they neither admitted nor denied) activity behind them with a $285 million wristslap.
  • Citigroup will pay USD 285mln to settle SEC charges for misleading investors about selling CDOs related to housing market, according to SEC
  • Citigroup's main US broker-dealer unit misled investors about USD 1bln CDO tied to US housing market, in which Citigroup bet against investors.
  • Citigroup bet against investors as housing market showed signs of distress, SEC said
  • CDO defaulted, Citigroup made $160m in fees/trading profits
  • $285m will be returned to investors, SEC says in statement
  • SEC also faults Citigroup employee Brian Stoker and Credit Suisse portfolio manager Samir H. Bhatt
As Bloomberg reminds us, "Goldman Sachs Group Inc. agreed to pay $550 million to resolve claims it failed to tell investors in a mortgage-linked product that a hedge fund betting against the CDO helped select the underlying assets. JPMorgan Chase & Co. agreed to pay $153.6 million to resolve similar claims related to its sale of a CDO in 2007."


Florida Bank, Used As ATM By Insiders, Won TARP Loan But Now Teeters

U.S. Century Bank rocketed into being in 2002, with investors pouring in $30 million over three months. Four years later, the Miami-based bank boasted assets of more than $1 billion, had consistently shown a profit, and had won plaudits from banking analysts such as BauerFinancial and glowing reviews from The Miami Herald and other local media.

In 2009, as the financial crisis hit, the bank received a vote of confidence from the federal government when it won a $50.2 million loan under the federal Trouble Assets Relief Program -- money earmarked for healthy banks. It was the most TARP money given to a Florida bank. "This represents an important recognition for U.S. Century Bank as it acknowledges our strength, stability and good standing as a strong and healthy financial institution," Ramon Rasco, the bank's chairman, said in a news release [1] announcing the loan.

UN Agenda 21 - Coming To A Neighborhood Near You

Most Americans are unaware that one of the greatest threats to their freedom may be a United Nations program known as Agenda 21. The United Nations Department of Economic and Social Affairs, Division for Sustainable Development created Agenda 21 as a sustainability agenda which is arguably an amalgamation of socialism and extreme environmentalism brushed with anti-American, anti-capitalist overtones. 


A detailed history on sustainable development, definitions, and critical actions can be found here. Section III of the Agenda 21 Plan addresses local community sustainable development.  The Preamble and Chapter 28 discuss how Agenda 21 should be implemented at a local level. The United Nations purposely recommends avoiding the term Agenda 21 and suggests a cleverly named alternative: "smart growth." The United Nations Millennium Papers - Issue 2 (page 5) says this of Agenda 21 and smart growth:


People Are Back To Making Late Payments On Their Credit Cards

Two months ago, the number of people making late credit card payments was at its lowest since Justin Bieber was a twinkle in his parents' eyes. Of course, when you reach a low like that, there is often nowhere to go but up.

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Police Drug Operation Continues To Round Up Suspects

Local law-enforcement officers continued to round up suspects charged with drug offenses in the sting.
“No Refill” this week, according to Accomack Sheriff Todd Godwin and Northampton Sheriff David
Doughty. Fourteen were arrested and eight more are being sought. Last week, 18 people were arrested in connection with the operation.

Target Store Has Great Black Friday Idea: Only 30 People At A Time

Here's a crazy idea: let's construct a Black Friday sale in such a way as shoppers aren't hospitalized in a mad dash for deals. That's what one Target store in Indiana is doing, where the plan is to only let 30 people in the store at a time on the sale day after Thanksgiving.

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Pennsylvania Gov. Corbett Approves Harrisburg Takeover

HARRISBURG, Pa. -- Gov. Tom Corbett has signed a new law giving him unprecedented power to force Pennsylvania's capital into a state-sanctioned financial recovery plan.

The Republican signed the legislation Thursday morning, less than a day after the House voted -- without debate and by a large margin -- to approve the plan to deal with Harrisburg's staggering debt.

Yard Sales anyone?

Anyone having a yard sale this weekend?

Please email me, SunnyInOC, at with all the details!
Don't leave anything out!

Please have all requests to me TODAY!

Fill In The Blank 10-20-11

I am ____ years old.

Don't Be Alarmed

This morning I received some calls asking what was going on a Cato Oil. I took a ride over there and confirmed through the SFD that this was just a yearly drill, nothing to be alarmed about.

Federal Retirees Get COLA Bump In 2012

WASHINGTON (AP) - Some 55 million Social Security recipients will get a 3.6 percent increase in benefits next year, their first raise since 2009. The increase was announced Wednesday when the government released a key measure of inflation, which determines whether people who receive Social Security get a cost-of-living adjustment, or COLA.
The Social Security Administration uses the average monthly index — of the Consumer Price Index — for the third quarter of 2011 and compares it to the third quarter average from the last year that a COLA was activated — in this case, 2008.


Benefit For Women Supporting Women Friday

Friday Friday Friday!!

Come out to the Red Roost for such a great cause! $5.00 from every All You Can Eat Special (with flyer or mention of posting) to be donated to Women Supporting Women on Friday, October 21. Come out any time from 5:30-10 pm.

Salisbury University Killing Local Restaurants In Salisbury Area

"At Salisbury University's The Commons this semester, dinner is served with themes as delicious and varied as the cuisine of Oaxaca, Mexico; the Chesapeake; France and even the Renaissance.

You can come out and enjoy a themed dinner at The Bistro in a university setting, with additional dining choices available in The Marketplace, which is adjacent."
The Daily Times put out an article yesterday that has created quit the stir.

While pretty much every single restaurant owner would LOVE to get this kind of FREE PRESS, ALL of them are subjected to extremely expensive advertising.

You see Folks, there was an initial agreement between the City and SU referencing the Commons Restaurant. The deal was, only people associated with SU, Alumni, employees, students, etc. were to be allowed to dine in this TAX FREE environment.

The key problem here is that SU made a promise it refuses to keep. The big question is, will the Mayor have the stones to not only make them accountable, will he make them stop such marketing tactics and shut them down to the public. A deal is a deal and this is why my hat is tipped to Tim, Terry & Debbie for stoping the old Fire Station 16 deal.

The Comons agreed they would NOT compete against local restaurants and they should be held to such. As all of you are aware, this is an extremely difficult economy and MANY restaurants have been forced to close their doors in the past two years and it could get even worse.

The loss of ANY business is not only critical to the restaurant owners, it's critical to the local economy. If you keep closing down locally owned restaurants it means NO tax revenue. If SU continues to compete and put other businesses out of business, THEY, (SU) PAY NO TAXES! Their overhead for employees is NOTHING like what other tax paying restaurants are paying and the trickle down effect is more costly than most would understand.

Contact Mayor Ireton and your City Council Members at and Mayor Ireton at and STOP Salisbury University from devistating the local economy.

New Posts to fall below.

Franchot Votes Against $7 Million In School Projects Because AC Is Not Included

Emotions ran high and discussions ran long as the Board of Public Works approved $7 million in Baltimore County school renovation projects – but not a cent of it going toward air conditioning in old schools. Comptroller Peter Franchot voted against the projects because he felt the lack of air conditioning in 65 of the 172 county schools should be the district’s top priority.

Continue Reading...

Dad Furious After Teen Daughter’s Sex Tape Goes Viral

BALTIMORE (WJZ) — A sex tape recorded on Baltimore City school property has spread all over the internet. The father of the 14-year-old girl involved was so upset he contacted WJZ. Meghan McCorkell has more.

Baltimore City police are investigating a video that’s gone viral. It involves a 14-year-old girl whose father says she had no idea it was all over the internet.


City Council Agenda

OCTOBER 24, 2011 6:00 p.m.
Government Office Building Room 301
Times shown for agenda items are estimates only.

6:00 p.m. CALL TO ORDER



6:08 p.m. PRESENTATION – Mayor James Ireton, Jr.
  • Proclamation - proclaiming “Municipal Government Works Month”


6:15 p.m. CONSENT AGENDA – City Clerk Brenda Colegrove
  • October 3, 2011 closed session minutes separate envelope
  • October 3, 2011 work session minutes 1a
  • October 10, 2011 regular meeting minutes 1b
  • Resolution No. 2111 - approving the By-laws of the Retiree Health Plan 1c
Trust for the Wicomico County Board of Education, Wicomico County
and the City of Salisbury
  • Resolution No. 2112 - accepting donation of a protective K-9 vest 1d
from Cathy Jo Williams of Cathy’s Pet Salon, Spa and Doggie Daycare
  • Resolution No. 2113 - accepting funds awarded through a grant from the 1e
National Fish and Wildlife Foundation for a collaborative initiative
between the City of Salisbury, the Center for Watershed Protection and the
Wicomico Creekwatchers to develop a restoration implementation plan
for the Wicomico River Watershed and to authorize the mayor to sign all
documents necessary for the receipt of said funds

6:20 p.m. RESOLUTION – City Administrator John Pick
  • Resolution No. 2114 - approving a Maryland Department of Housing and 2
Community Development, Community Legacy grant application for funds
to provide for Phase 2 of the Mill Street/West Main Street intersection
improvements pedestrian connectivity project and to authorize the mayor
to sign all documents necessary for the receipt of said funds



Today's Survey Question 10-20-11

Are you able to make your monthly debt payments on time?

In Case You Hadn't Noticed

Today we've elected to make some changes to Salisbury News. Rather than bombarding the Site with a million articles per day, we're attempting to limit the volume of articles while providing as much local news as possible per day.

Mind you, there are many days when there just isn't a whole lot of local stuff going on. So we'll adapt each day as we continue with such mentioned changes.

One thing you'll see different is more of the local stuff in the early morning hours. We'll provide articles every 15 minutes, (as usual) and throw in the more breaking news in between. So DON'T complain when an article gets buried, there's no way around it. If its a hot story we'll keep bumping it up like we usually do.

Since I'm up really early in the morning each day, I started posting at 5:00 AM this morning to give the early birds something more to look at. We've also changed the weather to 5:00 AM instead of 7:00 AM.

You'll see more of the political news from 2:00 PM to 4:00 PM and we're not going to run all the way to midnight every week day any more, unless there's that much news to share. So just know that we'll be breaking in throughout each day with current real time information. For example, 8:07, 8:23, 8:37, 8:53 and so forth.

We'll see how this format works for a few days and see if every one likes it. Let us know what you think.

More Union Jobs = More Union Dues

Would I be cynical to suggest that the reason the Democrats want more stimulus funds to pour into public sector jobs is because these "teachers and first responders" they say they will hire will increase the rolls of public sector unions? More union members mean more union dues, and a nice chunk of those union dues get laundered back into political campaigns to elect Democrat politicians who promise more goodies to public employees. At least Harry Reid is honest about who they propose to help, and it is not private sector jobs.

Leadership: Sen. Majority Leader Harry Reid thinks the private sector is "doing just fine" and that it's government that needs help. Now we see what the Democrats' priority is: big government, not people.
Responding Wednesday from the Senate floor to a question about a new Democrat plan to raise taxes on working Americans to pay for another $35 billion bailout for the states and public employee unions, Reid said:
"It's very clear that private-sector jobs have been doing just fine; it's the public-sector jobs where we've lost huge numbers, and that's what this legislation is all about."
No, we're not making this up. The comment is utterly wrong, of course, and underscores Democrats' cluelessness and insensitivity to the damage they've inflicted on the private economy since taking power in 2006.
Government data — available on the Web to all, including Reid — show 6.257 million private-sector jobs lost since the recession began in December 2007. That's a 5.4% decline. By comparison, government employment at all levels — state, local and federal — over that same period has fallen by about 392,000, or just 1.75%. If you look just at Reid's employer, the federal government, the number of jobs actually increased by 63,000 since 2007 — a 2.29% gain.
So who's suffering here?
Overall, the private sector has lost 16 jobs for every job lost in government since 2007. Even if you correct for the relative difference in the size of the two job markets (see chart above), the private sector has still lost three times more jobs than the public sector.
Is this surprising? It shouldn't be. The federal government's $840 billion stimulus effort was almost entirely aimed at bolstering government, and bailing out industries and unions that support Democrats.
Reid's remarks reflect his party's dishonest complaints about "austerity" and "draconian cuts" in federal spending. As new data show, federal spending jumped 5% in 2011. Some austerity.
This why the typical household in the Washington metro area — where government is the No. 1 employer — earned $84,523 last year, or 69% higher than the national median of $50,046. Federal employees took home $126,000 — two and a half times the U.S. median.
Big government is now America's growth industry. For Washington Democrats, that's fine — they believe government, not the private sector, creates jobs. But Reid should be ashamed for suggesting that, at a time of 9%-plus unemployment, our bloated federal, state and local governments have suffered most.
It's simply untrue. Worse, it can only detract from the debate we need to have: How to undo the damage from yet another failed Democratic Keynesian experiment.

Ellen Sauerbrey

Tide In Vienna Way Up Too

Kids Halloween Party

Maryland Property Owners Subject To Radical U.N. Plan Of Restrictive Zoning

Meet us at the Georgia House Restaurant on Thursday, October 20, 2011, from 7:00 to 9:00 PM to hear Carroll County Commissioner Richard Rothschild speak on this onerous regulatory mandate and explain what it will mean to you as a citizen of this state and as a property owner.  Commissioner Rothschild has been a champion of property rights in his home county by spearheading the elimination of the County's Office of Sustainablilty, and was instrumental in Carroll County's termination of it's relationship with the ICLEI.  It is one of the few local governments around the country to have done so .  ICLEI is the International Council for Local Environmental Initiatives.  It is a UN initiated global council to promote an environmental agenda by creating partnerships with local government thereby assisting in the implementation of the radical United Nations Agenda 21.  

Somerset County Sheriff's Office Press Release 10-20-11

Robert Vance Revels of Pocomoke, arrested 10-13-11 on charges of possession of suspected marijuana, and possession of drug paraphernalia. The arrest was a result of a traffic stop conducted by Deputies in the Eden area. Deputies recovered suspected marijuana, cash, and drug paraphernalia. Revels was released on personal recognizance pending trial.

Alexander Darryl DeJarnette of Marion Station, arrested 10-13-11 on a warrant regarding violation of probation. DeJarnette was held on a $100,000 bond.

Mark Joseph Dumeyer of Pocomoke, Criminal summons served for assault second degree. Dumleyer was released on signature pending trial.

Rasoul Bilal Pasha of Crisfield, Criminal summons served for malicious destruction of property. Pasha was released on signature pending trial.

Eric Eugene Ballard of Princess Anne, Criminal summons served for possession of contraband , and deadly weapon conceal. The summons was a result of an ongoing investigation at the Somerset County Detention Center, where Ballard is being held on un related charges.

Scott Andrew Ducan of Easton, arrested 10-17-11 on a warrant regarding failure to appear in court. Ducan was held on a $ 35,000 bond.

Victor Vaughn Armwood Jr. of Princess Anne, arrested 10-17-11 on a warrant regarding failing to appear in court. Armwood was released after posting a $ 10,000 bond.

Audra Katherine Catlin of Crisfield, arrested 10-17-11 on a fugitive warrant out of Pennsylvania. Catlin was held without bond pending extradition.

Jay Dominic Trader Sr. of Salisbury, arrested 10-18-11 on a warrant regarding failing to appear in court. Trader was held on a $ 500.00 bond.

Rasoul Bilal Pasha of Crisfield, Criminal summons served for malicious destruction of property. The summons was a result of damage to a glass window at the Somerset County Detention Center.

Micah Lamar Blue of Crisfield, arrested 10-18-11 on a warrant regarding violation of probation. Blue was held without bond.

Harold Timothy Howard 3rd. of Crisfield, arrested 10-18-11 on a warrant regarding failing to appear in court. Howard was held on a $ 250.00 bond.

Eric Eugene Ballard of Princess Anne, Criminal summons served for possession of contraband in a place of confinement. The summons was a result of an ongoing investigation at the Somerset County Detention Center.

Lynell Fletcher Everett of Westover, Criminal summons served for theft less than $ 1,000. Everett was released on signature pending trial.

Alfonzo Lamar Jackson of Manokin, Criminal summons served for theft less than $ 1,000. Jackson was released on signature pending trial.

'Natural' Diet Pills Tainted With Banned Prescription Drug

Twenty brands of dietary supplements touted as so-called natural weight loss aids have been found to contain a prescription drug pulled from the market for safety concerns, the Food and Drug Administration warned today.

Wicomico River Overflows

As you can see, the Wicomico River has crested and is creating problems in some areas. Images taken at 9:15 AM today.

Mitchell's Martial Arts

Coons Co-Sponsoring Anti-"Bath Salts" Measures

Senator Coons is co-sponsoring legislation targeting the designer drug "bath salts".

Coons' office announced Wednesday he's co-sponsoring two measures, one an amendment to an appropriations bill designed to help coordinate federal, state and local law enforcment efforts aimed at producers and users of the synthetic stimulant.

Is Your Partner Cheating On You? Blame The Economy!

Researchers at the University of Kansas just found one more piece of bad news about this so-called recovery: A crummy economy could prompt men, even those in monogamous relationships, to seek out more sex partners. In a study that will be published in the Journal of Experimental Social Psychology next month, social psychology professor Omri Gillath studied the responses of men who had been instructed to think about their death and were then shown sexually suggestive imagery. The subjects experienced a stronger physical response to the images, measured by an increase in heart rate, than a control group.


DE Woman To Be Recognized At White House Thursday

A Delaware woman who's worked for 20 years to help victims of domestic violence will be recognized for her efforts Thursday at the White House.

Cherelyn Homlish supervises three domestic violence assistance programs, chairs the Delaware Coalition Against Domestic Violence and is an adjunct professor at Wilmington University.

'Occupy' Memo Could Discourage Victims From Reporting Assaults

Efforts by the Occupy Baltimore protest group to evolve into a self-contained, self-governing community have erupted into controversy with the distribution of a pamphlet that victim advocates and health workers fear discourages victims of sexual assaults from contacting police.

The pamphlet says that members of the protest group who believe they are victims or who suspect sexual abuse "are encouraged to immediately report the incident to the Security Committee," which will investigate and "supply the abuser with counseling resources."


Missing Milton Girl Found

The missing juvenile Mayra Torres has been located by the Milton Police Department. Further information will be posted as soon as it becomes available.

Jack Hanna on Zanesville, Ohio, Animals: ‘We Would Have Had Carnage’

There was no choice but to kill 49 animals, including tigers, lions and bears, that were released from their enclosures in Zanesville, Ohio, wildlife expert Jack Hanna told ABC News’ Diane Sawyer.
“I’m sorry to say, but what the sheriff did had to be done,” Hanna said. “Otherwise, we would have had carnage out here in Zanesville, Ohio.

Bank Of America's $8.5 Billion Settlement Deal Falls Apart

While Morgan Stanley only recently became a second derivative for everything European-related (thank you financial short selling ban in Europe, and also thank you Mr. Gorman for updating investors on your firm's $39 billion gross derivative exposure to French banks [15](not France the country). What's that? You didn't provide one? Oh, our bad, just as it is "anonymous bloggers" bad that your CDS blew out this quarter and generated over $3 billion in "income" for your firm - you are truly welcome), Bank of America has, for quite a while, been a proxy for all that is wrong with America's mortgage industry, courtesy of that most value-destroying purchase of the insolvent criminal entity that was Countrywide Financials. For a while the market was content that the proxy would not be in need of a shallow grave, unlike the US housing market (go ahead, ask where PrimeX closed today), after the bank managed to bribe enough "plaintiffs" and proceed with a quick and painless $8.5 billion [16]settlement on all of its mortgage putback claims. A settlement that, however, had a very weak link: "Article 77", a critical provision enabling the deal in its current form. And as we first reported and explained [17]back on August 26, said weakest link was attacked by David Grais of Walnut Place, who "filed a request to transfer the lawsuit from State Court to Federal Court where everything basically begins a new." Well, today Grais won, and Bank of America lost after US District Judge William Pauley ruled that "Bank of America Corp.’s proposed $8.5 billion settlement with Countrywide Financial Corp. mortgage-bond investors must be considered in federal court instead of the New York state court where it was first filed." Not content with making a factual statement, the Judge proceeded to skewer the bank which, on top of evertyhing, recently decided to stuff its depositors with a bill as large as $53 trillion [18]should things turn sour, added "The settlement agreement at issue here implicates core federal interests in the integrity of nationally chartered banks and the vitality of the national securities markets."  Integrity? From a bank which secretly, though with the Fed's blessing [19], has tried to put its client interests over those of depositors of over $1 trillion, and over the objections of the FDIC? Don't make us laugh.

The good news is that yet another rating downgrade is imminent once the rating agencies realize that as a result of the Article 77 clause elimination, BofA is now on the hook for tens, if not hundreds of billions in putback liabilities and civil liability exposure, and potentially the forced bankruptcy of its Countrywide unit. In other words: the financial meltup over the past 2 weeks was fun while it lasted.