Fannie Mae and Freddie Mac were a politicized financial disaster wait until pension funds implode

Tuesday 7th of February 2012 07:11:51 AM
Posted by admin / Under Sri Aurobindo

Next Catastrophe Think Fannie Mae and Freddie Mac were a politicized financial disaster? Just wait until pension funds implode. Funds worth trillions of dollars start to plummet in value. Political pressure to be “socially responsible” distorts the market decisions of government-related enterprises, leading to risky investments. Investors who once considered their retirements safely protectedwake up to a sinking feeling of uncertainty and gloom. Sound like the great mortgage-fueled financial crisis of 2008? Sure. But it also describes a calamity likely to hit as soon as 2009. State, local, and private pension plans covering millions of government employees and union workers...

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'100 Tigers Killed' In Sea Battle With Sri Lankan Navy

Tuesday 7th of February 2012 07:11:51 AM
Posted by admin / Under Sri Aurobindo

'100 Tigers killed' in sea battle with Sri Lankan navy By Michael Hirst (Filed: 03/09/2006) Sri lanka's navy claimed to have sunk 12 Tamil Tiger boats during a six-hour sea battle yesterday that killed up to 100 rebels. The fighting started late on Friday when about 20 Tiger vessels, including five suicide boats packed with explosives, attempted to attack a naval base at Kankasanthurai, a key port on the northern Jaffna peninsula. A patrol, including fast-attack gun boats, drove the Tigers into open water where the battle continued until dawn yesterday. TamilNet, a pro-rebel website, claimed that two navy vessels...

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Snipers Shoot Dead Sri Lankan Foreign Minister

Tuesday 7th of February 2012 07:11:51 AM
Posted by admin / Under Sri Aurobindo

Snipers shoot dead Sri Lankan foreign minister (Filed: 13/08/2005) Sri Lanka's foreign minister, Lakshman Kadirgamar, was shot dead last night in an attack the police and military blamed on separatist rebels. Mr Kadirgamar, 73, a hardliner in dealing with the island's Tamil Tiger rebels, was hit by sniper fire as he climbed out of his swimming pool. He was rushed to the National Hospital in Colombo, which was sealed off as other ministers arrived to visit his bedside. The justice minister, John Senevirathne, said: "He worked tirelessly for peace throughout his career. It is a great loss." Heavily armed police...

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Sri Lanka Charges Oxfam L500,000 To Allow In Jeeps (Tsunami Relief)

Tuesday 7th of February 2012 07:11:51 AM
Posted by admin / Under Sri Aurobindo

Sri Lanka charges Oxfam £500,000 to allow in jeeps (Filed: 17/06/2005) Oxfam has had to pay £550,000 in customs duty to the Sri Lankan government for importing 25 four-wheel-drive vehicles to help victims of the tsunami, The Daily Telegraph has learned. The sum was levied by customs in Colombo which have refused to grant tax exemptions to non-governmental organisations working to repair damage caused by the giant Boxing Day wave. The Indian-made Mahindra vehicles, essential to negotiate damaged roads and rough tracks, remained stuck in port at Colombo for almost a month as officials completed the small mountain of paperwork...

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Scandal looming in promised $425 million for Sir Lanka tsunami victims that never arrived?

Tuesday 7th of February 2012 07:11:51 AM
Posted by admin / Under Sri Aurobindo

Even as the association of Canadian Maurice Strong with "Koreagate Man" Tungsun Park was coming under world limelight, Sri Lankans were starting to demand answers about where the $425 million promised by Canada to tsunami victims is. Four months after the tsunami hit, Sri Lankans still don’t have their money. Canadian Prime Minister Paul Martin rushed to the scene for a weeklong photo op. Generous Canadians donated record amounts of money on line. The Canadian government promised to match dollar for dollar, donations from the public. But the promised mega millions never arrived. According to veteran newsman Garth Pritchard, in...

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