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Monthly Archives: July 2012

Fat Chance: France’s Socialist Gov’t Needs ‘Unprecedented’ Spending Cuts

Instead, they’ll likely only raise taxes.

“It will require both an unprecedented curb on public expenditure and an increase in taxes,” Mr Migaud said.

Or, they could blame Bush. I mean Sarkozy.

But the report revealed no “black hole” in the state books and gave credit to Mr Sarkozy’s administration for a significant improvement in the deficit since 2010. It appeared at odds with the government’s plans for tax hits on big business and the wealthy.

Two strikes. Perhaps France can just grow growth and competitiveness through big social spending?

“In health, education, vocational training, for example, France spends much more than other countries where the outcome in these areas is considerably better than ours,” Mr Migaud said.

Read the article here.

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Documents Expose Morgan Stanley Forcing Rating Agencies To Inflate Ratings

“With Europe, the BBA, and virtually everyone shocked, shocked, that the global bank cabal schemed and colluded for years to manipulate interest rates, so far only America appears relatively blase, and totally ignorant, about the issue. Perhaps it is because the first bank exposed in the manipulation scheme so far is European, perhaps because it is just tired of all the endless crime coming out of the criminal complex known as Wall Street. It is unclear. Then again, America will soon have its own manipulation scandals to deal with: ”

Full article

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Icahn Wants Not 1 or 2 or 3, but 4 Seats on $FRX Board

In a letter to Solomon, Icahn said the company’s long-time CEO had sold more than $500 million worth of Forest stock several years ago “at prices substantially higher than today’s price.”

“Those sales now look to me like a savvy bet against the prospects of a company that was not prepared to meet the calamitous events that would befall it several years in the future when Lexapro went off patent,” Icahn said.

Full Article

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Market Update

Your still looking at the markets ? Go make a holiday for the week already. Nothing to see here.

Market update

[youtube://http://www.youtube.com/watch?v=MeE3-rOG7i4&feature=related 450 300]

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H/T @thestalwart


The FBI Bank Robbery Task Force needs your help identifying a bank robber dubbed the “Abe Lincoln Bandit.” The man, sporting a long, Abraham Lincoln-like beard, robbed the Wells Fargo Bank located at 11102 Scarsdale in Houston, Texas, earlier today (June 30, 2012). Surveillance photos are below.

Bank Robbery Suspect

Bank Robbery Suspect

Bank Robbery Suspect

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United Technologies Does a Low Down Dirty Shame

China’s military today has its first attack helicopter, thanks in part to a major American defense contractor that illegally provided important software and in the process violated U.S. export control laws.
Federal prosecutors announced this week that United Technologies and two of its subsidiaries were punished for selling engine-control software to the Chinese 10 years ago. The companies were ordered to pay a $75 million fine for violating an arms embargo that’s been in effect since the 1989 Tiananmen Square massacre.”

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