[youtube://http://www.youtube.com/watch?v=irNLVjRwDtc 450 300] [youtube://http://www.youtube.com/watch?v=LuRKBnYItC8 450 300]

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Washington, D.C., Jan. 22, 2013 — The Securities and Exchange Commission today announced that Egan-Jones Ratings Company (EJR) and its president Sean Egan have agreed to settle charges that they made willful and material misstatements and omissions when registering with the SEC to become a Nationally Recognized Statistical Rating Organization (NRSRO) for asset-backed securities and government securities.

EJR and Egan consented to an SEC order that found EJR falsely stated in its registration application that the firm had been rating issuers of asset-backed and government securities since 1995 — when in truth the firm had not issued such ratings prior to filing its application. The SEC’s order also found that EJR violated conflict-of-interest provisions, and that Egan caused EJR’s violations.

EJR and Egan made a settlement offer that the Commission determined to accept. Under the settlement, EJR and Egan agreed to be barred for at least 18 months from rating asset-backed and government securities issuers as an NRSRO. EJR and Egan also agreed to correct the deficiencies found by SEC examiners in 2012, and submit a report – signed by Egan under penalty of perjury — detailing steps the firm has taken.

“Accuracy and transparency in the registration process are essential to the Commission’s oversight of credit rating agencies,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “EJR and Egan’s misrepresentation of the firm’s actual experience rating issuers of asset-backed and government securities is a serious violation that undercuts the integrity of the SEC’s NRSRO registration process.”

Antonia Chion, Associate Director of the SEC’s Division of Enforcement, added, “Provisions requiring NRSROs to retain certain records and address conflicts of interest are central to the SEC’s oversight of credit rating agencies. EJR’s violations of these provisions were significant and recurring.”

Egan and his firm were charged last year for falsely stating on EJR’s July 2008 application to the SEC that it had 150 outstanding asset-backed securities (ABS) issuer ratings and 50 outstanding government issuer ratings, and had been issuing credit ratings in these categories on a continuous basis since 1995. Egan signed and certified the application as accurate. According to the SEC’s order, EJR had not issued any ABS or government issuer ratings that were made available through the Internet or any other readily accessible means. Therefore, EJR did not meet the requirements for registration as a NRSRO in these classes. The Commission found that EJR continued to make material misrepresentations about its experience in subsequent annual certifications. EJR also made other misstatements in submissions to the SEC, and violated recordkeeping and conflict-of-interest provisions governing NRSROs — which are intended to safeguard the integrity of credit ratings.

EJR and Egan agreed to certain undertakings in the SEC’s order, including that they must conduct a comprehensive self-review and implement policies, procedures, practices, and internal controls that correct issues identified in the SEC’s order and in the 2012 examination of EJR conducted by the SEC’s Office of Credit Ratings. EJR and Egan consented to the entry of the order without admitting or denying the findings. The order requires them to cease and desist from committing or causing future violations.

The SEC’s investigation was conducted by Stacy Bogert, Pamela Nolan, Alec Koch, and Yuri Zelinsky. The SEC’s litigation was led by James Kidney with assistance from Alfred Day and Ms. Nolan. The related examinations of EJR were conducted by staff from the SEC’s Office of Credit Ratings, Office of Compliance Inspections and Examinations, and Division of Trading and Markets. Examiners included Michele Wilham, Jon Hertzke, Mark Donohue, Kristin Costello, Scott Davey, Alan Dunetz, Nicole Billick, David Nicolardi, Natasha Kaden, and Abe Losice.

Source: SEC

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Not a sex video you sick fuck…..

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“In France, news that an apartment measuring less than 17 square feet had been rented out for 15 years is being cited as proof of an overly expensive real estate market in Paris. A 50-year-old man identified only as “Dominique” had been paying rent of 330 euros, or about $442, to live in the apartment.

The story was highlighted by the housing advocacy group Fondation Abbe Pierre, after the man asked for help dealing with his landlord. He had been living in a space that measured 1.56 square meters — or about 16.8 square feet.

“I come home, I go to bed,” Dominique told the French website and radio stationRTL, describing how he coped with living in the space….”

Full article

Crazy story….

Article and video

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MIDDLETOWN, N.J. (CBSNewYork) — Police are investigating after a woman was attacked and stabbed multiple times inside a New Jersey store Thursday afternoon.

The victim, identified by her family as 29-year-old Kerri Dalton of Keansburg, also had a baby with her inside the Middletown Bed Bath & Beyond store, when the attack occurred.

The alleged assailant, 19-year-old Tyrik Haynes, is accused of repeatedly plunging a knife into Dalton around 4 p.m., puncturing both her lungs in an apparent random attack.

A published report indicated that Haynes is being held on $1 million bail on an attempted murder charge.

Dalton was stabbed more than a dozen times and Medevaced to Jersey Shore Medical Center, where she remained in stable condition late Thursday night.

The baby was unhurt and was with family, Young reported.

The manager of the Staples store next door to the scene said she saw the assailant moments before the attack lurking about on the sidewalk.

Full Article

Former U.S. vice president Al Gore recently netted a huge payday by selling his cable station. Now, it appears he’s making another big profit buying Apple’s (AAPL) stock on the cheap.

Al GoreAccording to a filing with the Securities and Exchanges Commission, Gore — a director on Apple’s board — exercised an option to purchase nearly 60,000 shares of the tech giant at the bargain basement price of $7.48, costing him a total of about $445,000.

But with Apple’s current market price at about $500 a share, Gore’s holdings are worth $29.75 million, giving him a huge windfall-on paper at least.

Gore, however, could easily afford to buy Apple’s stock at the prevailing market price.

(Read more: Facebook’s New Search Effort Is Being Run by Former Google Employees)

In early January, the environmental crusader sold his Current TV venture to Qatar-based news organization Al Jazeera for $500 million. Published reports say the sale of Gore’s 20 percent stake in the network – worth an estimated $100 million – would bring his net worth to about $300 million.

The vice president’s purchase comes at a time when the tech giant’s shares have been under massive selling pressure, as investors doubt its ability to ward off competitive pressures and maintain its reputation for innovative products.

This week, the stock hit its lowest level since Feburary 2012, just ahead of what analysts say will be a pivotal earnings report next week.

 Source: Yahoo

Source 

“Two-out-of-three Americans recognize that their constitutional right to own a gun was intended to ensure their freedom.

The latest Rasmussen Reports national telephone survey finds that 65% of American Adults think the purpose of the Second Amendment is to make sure that people are able to protect themselves from tyranny. Only 17% disagree, while another 18% are not sure. (To see survey question wording, click here.)

(Want a free daily e-mail update? If it’s in the news, it’s in our polls). Rasmussen Reports updates are also available on Twitter orFacebook.

The survey of 1,000 Adults was conducted on January 16-17, 2013 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.”

“A woman survives being thrown onto the tracks during a vicious attack in the SEPTA subway.

We want to warn you that the video above may be difficult to watch.

Raw Video of Subway Attack

The attacker and the woman were alone at the SEPTA subway station at 8th and Race in Chinatown on Tuesday afternoon. He asked to borrow a light for his cigarette. Then, without warning, he attacks her, drags her onto the landing and throws her down onto the tracks.

SEPTA Chief of Police Thomas Nestel tells NBC10 the woman, 23, was very fortunate she walked away with only bumps, bruises and some cuts…..”

Full article and video

“The Cayman Islands are poised to break with decades of secrecy by opening thousands of companies and hedge funds domiciled on the offshore Caribbean territory to greater scrutiny.

The British overseas territory, which wants to shed its reputation for clandestine financial activity, is introducing sweeping reforms that will make public the names of thousands of previously hidden companies and their directors.

In proposals sent to Cayman-based hedge fund businesses and seen by the Financial Times, the islands’ powerful monetary authority, CIMA, has outlined plans to create a public database of funds domiciled on the island for the first time. The database will also list funds’ directors, pending an ongoing consultation process due to close in mid-March.

CIMA, which did not respond to a request for comment, also plans to require directors to undergo a vetting process to ensure they are qualified to act as fiduciaries for investors.

“In the 24 months subsequent to the onset of the financial crisis, the BVI Financial Services Commission, the Central Bank of Ireland, the Jersey Financial Services Commission, the Bahamas Financial Services Board and the Isle of Man Supervision Commission all updated their corporate governance codes, laws and/or regulations,” CIMA said in one document….”

Full article