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Forget QE3, the Fed Might Have Something Better

via StreetInsider.com 

June 20, 2012 3:41 PM EDT

With even unconventional Fed tools showing little fruitfulness, Fed watchers should take heed that Bernanke & Co. are evaluating a new program that can help breath life into the stagnant U.S. economy courtesy of our friends across the pond.

Last week, in a joint move, the Bank of England and the Treasury there surprised markets with a ‘funding-for-lending’ program. While little details are available, the program will provide funding to banks over several years at rates below current market rates. Money can be lent against “the widest range of collateral.” The program is expected to be structured to ensure that the banks then pass the lower costs to customers and boost the overall economy.

READ THE REST HERE 

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Windows Phone’s Wallet App to Support Credit & Loyalty Cards, Deals, NFC Payments

at the Windows Phone event, Microsoft announced the wallet feature that will be a part of Windows Phone 8. The wallet will support both credit and debit cards, and loyalty and membership cards.

Also supported will be saved deals, with third-party integration built-in, to allow for other services, such as frequent flier miles and other sorts of information.

NFC will also be baked in, bringing that technology to the Windows Phone line around the world. Orange, the carrier, is Microsoft’s lead carrier partner for this product.

Critically, Microsoft intoned on stage, its product is safe, and unlike products from Apple and Google, is end to end. Apple does loyalty, and Google does payments, but Microsoft does both.

READ THE REST HERE AT THENEXTWEB.COM

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{SHOCK PHOTO} Teen Survives Spear Through the Brain!

US teen survives spear through brain

X-ray image of spear through head of Nasser Lopez (Jackson Memorial Hospital)

A US teenager’s survival after a spear was shot through his brain is a miracle, doctors say.

Yasser Lopez, 16, is recovering after he was accidentally hit with a spear gun by a friend during a Florida fishing trip this month.

Medics at Jackson Memorial Hospital in Miami said the 3ft (90cm) projectile entered his brain over his right eye and went out the back of his head.

He is now out of bed and speaking following a three-hour operation.

Medics said he was awake as he arrived at hospital, and became “agitated”.

After sedating the teenager, part of the stainless steel spear had to be severed with a mechanical cutter so he could fit into the CT scanner.

After scan of Yasser Lopez's brain
Yasser Lopez’s brain scan after surgery to remove the spear
READ THE REST HERE AT BBCNEWS 

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Secret Service Agents Got Their Freak On More Than You Know

obamawave.jpg

The president is a lot more popular on Martha’s Vineyard than the men and women who guard him.

MARTHA’S VINEYARD, Mass. –  Long before President Obama’s security detail was scandalized in Colombia and new revelations emerged last week about the Secret Service, members of the elite team earned an “Animal House” reputation at the blueblood vacation mecca of Martha’s Vineyard.

Local residents say wild parties, fights and late-night carousing involving Secret Service members have become commonplace in recent years at the Vineyard, a favorite getaway for the First Family and longtime destination for upper-crust members of the Northeastern political, media and business establishment.

“I expect parties during the summer. People come here to have fun — they’re on vacation,” said a resident who lives in the East Chop section of Oak Bluffs, near the six-bedroom Victorian mansion whose owners dubbed it the Secret Service’s “party house,” after agents staying in a cluster of adjacent homes converged on it for late-night soirees. “But I didn’t think it’d be Secret Service people here protecting the president.”

 

‘If Secret Service says they’ve never received complaints about these same guys, then there is clear evidence to the contrary — if they say that, they’re lying.’

– Homeowner who says house was trashed by Secret Service agents

 

Trashed rental homes, bad behavior and barroom brawls that have required the local police to step in have some disgusted Martha’s Vineyard homeowners vowing never to rent out to the Secret Service again. And while none of the disturbing behavior appeared to have any direct effect on the president’s safety, some occurred even as the president and his family were nearby.

Read more: http://www.foxnews.com/politics/2012/06/19/exclusive-secret-service-agents-partied-like-rock-stars-on-obamas-vineyard-vacation/#ixzz1yGDGJld8

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{PHOTO} PUT THAT COFFEE DOWN! Alec Baldwin Catches Beef with Photographer

via TMZ.com

Alec Baldwin has a Violent Confrontation with NY Daily News Photog
Things got physical between Alec Baldwin and a NY Daily News photographer today … as Alec was leaving a NY courthouse with his fiancee Hilaria Thomas.

According to the NY Daily News, Baldwin had just obtained a marriage license … when he got into it with one of their staff photographers, Marcus Santos.

Santos told the paper Baldwin was screaming for him and another Daily News photog to back up … and they obliged. But Baldwin kept coming — “He comes after me, starts shoving and punching me — one time, right in the chin.”

But sources connected with Alec tell TMZ … the photographer almost HIT HIM with the camera and while Alec pushed him away … he did not punch him.

READ THE REST HERE 

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2012 OLYMPICS UPDATE

Phelps to enter seven events at Olympic qualifying

Michael Phelps is setting himself up for the possibility of 10 Olympic medals this summer.

 

By Kevin Jairaj, US Presswire
That is, if he swims in all seven events he’s entered in at next week’s U.S. Olympic swimming trials — which is a pretty big “if.”

According to the psych sheet released by USA Swimming, Phelps is entered in the 200- and 400-meter individual medleys, the 100 and 200 butterflys, the 100 and 200 freestyles and the 200 backstroke. Yahoo! Sports and The Baltimore Sun both initially reported that Phelps would compete in seven events.

If he swims all those events at the trials (and qualifies) and competes as a member of all three U.S. relay teams, he could have a chance to win 10 medals. Guess that’s the only way to top his eight gold medals from the 2008 Olympics in Beijing …

READ THE REST HERE AT USATODAY.COM

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“FLOP OF AGES” – Hollywood Lays an Egg to Start the Summer

…New Line/Warner Bros’ Rock Of Ages (3,470 theaters) fell to earth with a thud. Which Hollywood expected because the pic had been tracking poorly for weeks (and even went down at one point week to week). The studio felt the 1980s period piece was a hard sell to younger moviegoers…

via deadline.com – Read the rest here 

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BIG BROTHER TO THE NORTH- CANADA WIRES AIRPORT TO EAVESDROP ON CONVERSATIONS

 

Sophisticated cameras and microphones will put passengers at the Ottawa airport under greater scrutiny than ever before.

Sophisticated cameras and microphones will put passengers at the Ottawa airport under greater scrutiny than ever before.

Photograph by: Mike Carroccetto , The Ottawa Citizen

OTTAWA — Sections of the Ottawa airport are now wired with microphones that can eavesdrop on travellers’ conversations.

The Canada Border Services Agency (CBSA) is nearing completion of a $500,000 upgrade of old video cameras used to monitor its new “customs controlled areas,” including the primary inspection area for arriving international passengers.

As part of the work, the agency is introducing audio-monitoring equipment as well.

Read more:http://www.ottawacitizen.com/news/Ottawa+airport+wired+with+microphones+Border+Services+prepares+record+travellers+conversations/6788759/story.html#ixzz1y4Rnnyk4

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FLASH: GREECE TOO CLOSE TO CALL

Greek Vote Too Close to Call, Exit Poll Shows

UPDATE:

Here is a more detailed breakdown of Greek exit polls, as broadbast by state-run NET TV

Political Party Percentage
New Democracy 27.5 – 30.5
Syriza 27 – 30
Pasok 10 – 12
Independent Greeks 6 – 7.5
Communist Party 5 – 6
Golden Dawn 6 – 7.5
Democratic Left 5.5 – 6.5

via Bloomberg.com 

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Rodney King, at Center of 1992 L.A. Riots, Dies at Age 47

via TMZ.com

http://www.youtube.com/watch?v=0w-SP7iuM6k&feature=player_embedded

Famous tape of LAPD beating King which sparked riots in L.A. after not guilty verdicts of the police officers.

 

EXCLUSIVE

0617_rodney_king_gettyUPDATE 9:27 AM PT — According to our sources, King’s fiancée is telling friends King had been drinking and even smoked weed in the hours just before his death.

0314_divider_graphic
Rodney King — the man who was at the center of the infamous Los Angeles riots — was found dead this morning in Rialito, CA. He was 47.

According to our sources, King’s fiancée found him dead at the bottom of a pool.

Rodney King‘s fiancée is telling friends Rodney had been drinking all day Saturday … and had smoked weed in the hours leading up to his death … sources close to King tell TMZ.

According to our sources, King’s fiancée, Cynthia Kelley, is telling friends King was at the house all day drinking, and he smoked marijuana at some point, before she went to went to bed at 2:00 AM.

We’re told Kelley says she next saw King at around 5:00 AM when she was awoken by him screaming in the backyard. Our sources say Kelley found King naked, banging on the glass, and she called out to him, “What’s wrong, Rodney?”

SOURCE 

 

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BREAKING: OBAMA OFFERS IMMUNITY TO ILLEGALS WHO CAME TO U.S. AS KIDS

via NYPOST.com

WASHINGTON — The Obama administration will stop deporting and begin granting work permits to younger illegal immigrants who came to the US as children and have since led law-abiding lives. The election-year initiative addresses a top priority of an influential Latino electorate that has been vocal in its opposition to administration deportation policies.

The policy change, described to The Associated Press by two senior administration officials, will affect as many as 800,000 immigrants who have lived in fear of deportation. It also bypasses Congress and partially achieves the goals of the so-called DREAM Act, a long-sought but never enacted plan to establish a path toward citizenship for young people who came to the United States illegally but who have attended college or served in the military.
Read more: http://www.nypost.com/p/news/national/immunity_offered_to_certain_immigrants_A3ugceO9Dr5pDjiCqLF9aP#ixzz1xsC2iknV

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MORE: Reuters Exclusive–Central Banks Ready to Combat Greek Market Storm

(Reuters) – Central banks from major economies stand ready to take steps to stabilize financial markets and prevent a credit squeeze should the outcome of Greek elections on Sunday cause tumultuous trading, G20 officials told Reuters.

A senior U.S. official cautioned that the Greek election will not provide “the definitive signal on what happens next” in the euro zone debt crisis.

But if severe market strains emerge after an unusual confluence of three elections this weekend – there are important polls in Egypt and France as well – central bankers are on standby to ensure enough cash is flowing through the financial system.

“The central banks are preparing for coordinated action to provide liquidity,” said a senior G20 aide familiar with discussions among international financial diplomats. His statement was confirmed by several other G20 officials.

It could mark a dramatic backdrop to the G20 summit of world leaders who will gather in Los Cabos, Mexico, on Monday and Tuesday where Europe’s escalating crisis tops the agenda.

Leaders will be accompanied by finance ministers playing an advisory role. The ministers, who usually keep a low profile at these summits, have scheduled a working dinner on Monday and lunch on Tuesday.

Depending on the severity of the market response, an emergency meeting of ministers from the Group of Seven developed nations could be held on Monday or Tuesday in Los Cabos, with central bankers joining by phone, a second G20 official said.

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