archive-com.com » COM » 9 » 911OMISSIONREPORT.COM

Total: 693

Choose link from "Titles, links and description words view":

Or switch to "Titles and links view".
  • Parking meter rate hike sparks a rebellion
    city got 1 2 billion to help plug its budget holes But by handing over municipal parking meters to a private company the city has given its citizens a colossal case of sticker shock The cost of most meters will quadruple by 2013 The deal Mayor Daley rammed through a pliable City Council in 48 hours allows the company to keep all revenue from the meters while the city keeps all cash from parking tickets when meters expire But wait Don t parking tickets reap six seven even eight times more than what meters bring in If people start refusing to park at meters how can they get ticketed And how can the city hope to rake in that revenue So many questions My first call was to Carissa Ramirez spokeswoman for Morgan Stanley Communications and Chicago Parking Meters LLC the privatizing firm Were they I asked sensing a citizen rebellion How are they doing in revenue What about tickets Ramirez replied by e mail that it s too soon to know but I would probably have to file a Freedom of Information Act request with the city as I believe these are special requests Special requests Then I called LAZ Parking the subcontractor hired to collect all those quarters and give out tickets LAZ Parking didn t even bother to get back to me Privatization apparently does not mean transparency Which takes me back to the rebellion Irate citizens have been venting on a Web site called theexpiredmeter com It s written and reported by a 45 year old Chicago blogger called the Parking Ticket Geek Geek says he has made regular inquiries of both Ramirez and LAZ Parking I called for a week straight I am friendly and nice and polite on the phone and never ever get

    Original URL path: http://www.911omissionreport.com/parking_meter_hike.html (2016-02-14)
    Open archived version from archive


  • Toll equipment double-billed 50,000 times
    Monday The problem has occurred one of every 600 times a car passed one of the roads tolling points Agency officials say that they have made a number of equipment and software changes in the past few weeks to virtually eliminate the problem the frequency would now be more like one in every 2 000 toll transactions and that every customer affected by the snafu now and in the future will have the charges credited We will reverse all of them said David Powell the state Transportation Department s director of turnpike information technology and toll operations The problem Powell said had to do with antennae on the overhead gantries that communicate with electronic toll tags on car windshields Poor aiming of those antennae Powell said can lead to a number of scenarios resulting in double charges The antennae which are actually flat panels have to be pointed at a certain spot If the panel is tilted incorrectly it can read the tag on one car while believing that it is communicating with a car in a different spot Then those cars that have already seen debits to their tag accounts might be photographed by the equipment at a different

    Original URL path: http://www.911omissionreport.com/toll_roads_double-billed.html (2016-02-14)
    Open archived version from archive

  • California Toll Agency Wants Power to Seize Cars
    would like the authority to revoke the driver s license of a vehicle owner accused of not paying a notice of violation Despite the tough talk however the tolling agency grudgingly admits some violations are not actually the fault of the motorist These violations mainly result from the toll lane equipment not reading the tag of a FasTrak customer BATA Deputy Executive Director Andrew B Fremier wrote in a memo to committee members There are a number of reasons that the lane equipment may not read a tag of a FasTrak customer including the tag reader in the lane becomes misaligned or the toll tag malfunctions In 2005 FasTrak system overcharged at least 600 motorists crossing the Bay Bridge between San Francisco and Oakland because ACS the company in charge of the program allowed its laser scanning devices to become dirty In most cases when the toll transponders fail customers have their credit card on file billed based on a photographic scan of their vehicle s license plate This usually is not a problem unless the credit card expiration date arrives and the automatic billing function fails or the scanner misreads the plate When such problems occur the tolling authority

    Original URL path: http://www.911omissionreport.com/toll_agency_seize_cars.html (2016-02-14)
    Open archived version from archive

  • Black Slaveowners
    another slave for profit Woodsonï s perceptions of free black slaveholding were partially correct however when the totality of the institution is examined his assumptions are revealed to be erroneous Many black masters were firmly committed to chattel slavery and saw no reasons for manumitting their slaves To those colored masters slaves were merely property to be purchased sold or exchanged Their economic self interest overrode whatever moral concerns or guilt they may have harbored about slavery Since the black masters benefited from slavery they rationalized that because the institution was profitable they could not relinquish their valuable property without being reimbursed So black masters continued to own slaves even when the Union army was preparing to invade South Carolina in 1864 The commercial impulse of black masters to exploit the commodity of slave property was recorded not only by the Secretary of State but the Master of Equity in Charleston District In scores of reports the black masters appeared to have used their slaves as commodities George Shrewsberry and James Hanscome both colored slave masters argued over the ownership of three slaves in the court of equity Rather than sue each other they filed a complaint against the master of the workhouse because he refused to release the slaves to either of the men until the ownership of the slaves was established In 1845 the two colored slaveowners filed a suit against the master of the workhouse and claimed that he refused to release their property The commercial impulses of both colored men are vividly illustrated by the court proceedings Such cases are not isolated incidents in fact they are prevalent in the court records For example there were mortgages registered by free blacks who used their slaves as collateral to secure loans In 1811 Philis Wells a free colored woman of Charleston City used her servant Mark as collateral to obtain a loan from Peter Desportes for 900 In 1823 a slave named Sarah was used as security by William Aiken a free black and a carpenter of Charleston City when he applied for a loan from Joseph S Brown for 600 The black masters who were not related to their slaves by ties of kinship were not personally disturbed when default and seizure occurred In December 1841 John S Mark a barber of Charleston City bought a Negro man named Billy and his wife Provy from Otto Cook for 420 Two years later he obtained a loan from George Shrewsberry for 300 To secure the loan he mortgaged Billy and Provy Shortly thereafter John St Mark apparently defaulted on the loan and sold the slaves Billy and Provy for 375 Most of the black women who conveyed their slaves in marriage settlements were not related to their slaves by kinship thus their slaves were primarily viewed as commodity For example shortly after the marriage settlement of Hannah Norman Miles she sold her servant woman Lucy who was part of the chattel in her marriage contract for 35

    Original URL path: http://www.911omissionreport.com/black_slaveowners.html (2016-02-14)
    Open archived version from archive

  • Revealed: Day the banks were just three hours from collapse
    October 6 when the FTSE 100 dropped by nearly eight per cent as bad news on the economy started to multiply The following day Chancellor Alistair Darling began all night talks ahead of an announcement on the Wednesday that billions of pounds of taxpayers money would be used to pour liquidity into the system But shares continued to plummet turning into a rout on the Friday when the FTSE crashed by ten per cent within minutes of opening Both Royal Bank of Scotland and HBOS were nearing complete collapse but Lord Myners who built up his fortune during a long career in the City said the problems ran far wider There were two or three hours when things felt very bad nervous and fragile he said Major depositors were trying to withdraw and willing to pay penalties for early withdrawal from a number of large banks The threat to the system was so severe that the Bank of England was forced to contact RBS s creditors in New York and Tokyo to persuade them not to withdraw their funds but it is not known which other banks faced a run on their reserves We faced the very real problem of how banks could stop depositors from withdrawing their money a Treasury source said yesterday The banks themselves were selling their shareholdings accelerating the stock market falls and preparing to shut up shop Mortgages would have been sold on and savers would have been spooked to put it mildly It would have been chaos After a weekend of crisis talks which concluded at dawn on the Monday it was announced that Lloyds TSB was taking over HBOS supported by 17billion of taxpayers money and RBS would receive an injection of 20billion prompting the resignation of RBS s infamous chief executive Sir

    Original URL path: http://www.911omissionreport.com/hours_from_collapse.html (2016-02-14)
    Open archived version from archive

  • Banks Bet Greece Defaults on Debt They Helped Hide
    on their daily gyrations A result some traders say is a vicious circle As banks and others rush into these swaps the cost of insuring Greece s debt rises Alarmed by that bearish signal bond investors then shun Greek bonds making it harder for the country to borrow That in turn adds to the anxiety and the whole thing starts over again On trading desks there is fierce debate over what exactly is behind Greece s recent troubles Some traders say swaps have made the problem worse while others say Greece s deteriorating finances are to blame This is a country that is issuing paper into a weakening market said Ashish Shah co head of credit strategy at Barclays Capital referring to Greece s need for continual borrowing But while some European leaders have blamed financial speculators in general for worsening the crisis the French finance minister Christine Lagarde last week singled out credit default swaps Ms Lagarde said a few players dominated this arena which she said needed tighter regulation Trading in Markit s sovereign credit derivative index soared this year helping to drive up the cost of insuring Greek debt and in turn what Athens must pay to borrow money The cost of insuring 10 million of Greek bonds for instance rose to more than 400 000 in February up from 282 000 in early January On several days in late January and early February as demand for swaps protection soared investors in Greek bonds fled the market raising doubts about whether Greece could find buyers for coming bond offerings It s the blind leading the blind said Sylvain R Raynes an expert in structured finance at R R Consulting in New York The iTraxx SovX did not create the situation but it has exacerbated it The Markit index is made up of the 15 most heavily traded credit default swaps in Europe and covers other troubled economies like Portugal and Spain And as worries about those countries debts moved markets around the world in February trading in the index exploded In February demand for such index contracts hit 109 3 billion up from 52 9 billion in January Markit collects a flat fee by licensing brokers to trade the index European banks including the Swiss giants Credit Suisse and UBS France s Societe Generale and Deutsche Bank of Germany have been among the heaviest buyers of swaps insurance according to traders and bankers who asked for anonymity because they were not authorized to comment publicly That is because those countries are the most exposed French banks hold 75 4 billion worth of Greek debt followed by Swiss institutions at 64 billion according to the Bank for International Settlements German banks exposure stands at 43 2 billion Trading in credit default swaps linked only to Greek debt has also surged but is still smaller than the country s actual debt load of 300 billion The overall amount of insurance on Greek debt hit 85 billion in February up

    Original URL path: http://www.911omissionreport.com/greece_banks_bet.html (2016-02-14)
    Open archived version from archive

  • Fed kills a key inflation gauge
    of future inflation While rapid growth in the money supply may be connected to asset bubbles such as the 2000 stock market collapse the connection is too full of uncertainties to manage Measuring the money supply is too darn expensive and difficult anyway I d certainly agree that a measure of the money supply like M3 which combines M1 currency in circulation commercial bank demand deposits automatic transfers from savings accounts savings bank demand deposits and travelers checks with M2 overnight repurchase agreements between banks overnight eurodollars savings accounts CDs under 100 000 and money market shares is woefully inadequate in an age when securitizations of mortgages and other debt instruments the debits and credits of the international carry trade in currencies and the vast derivative markets can add hundreds of billions of global liquidity in a matter of hours Because it s so hard to say exactly what money is today a measure like M3 does seem antiquated But that makes it even odder in my opinion that the Federal Reserve would decide to kill off M3 the most inclusive of current money supply measures yet keep collecting the data for narrower definitions of money such as M1 and M2 Rather than killing off M3 you d think the Federal Reserve would be spending money to develop and publish data for an M4 and maybe an M5 to track the ebbs and flows of an even more expansive definition of money that includes some of the new forms of money that have been manufactured on Wall Street and in other global banking sectors You d especially think that would be the case because the Federal Reserve has so publicly raised the possibility that the explanation for the current unusual combination of high economic growth and low interest rates is a global excess of capital If that might be so wouldn t it be useful to develop a standard monetary measure to track it But instead of expanding the definition of money the Federal Reserve is contracting it I m not generally a believer in Federal Reserve conspiracy theories But in this instance the conspiracy theorists make an intriguing point The Federal Reserve decided to kill off M3 they argue because it is the measure that shows the fastest growth in the money supply For the 12 month period that ended in February 2006 for example M3 grew at annual rate of 8 but M1 grew by just 0 4 and M2 by 4 7 Certainly getting rid of M3 makes it harder to argue that the short term inflation fighters at the Federal Reserve are actually very soft on long term inflation Maybe so soft that you could say they love long term inflation Fuel for conspiracy theorists The Federal Reserve conspiracy theorists go on to argue that this is exactly the kind of monetary policy you d expect from the world s greatest debtor nation Use your credentials as a short term inflation fighter to convince global savers

    Original URL path: http://www.911omissionreport.com/m3.html (2016-02-14)
    Open archived version from archive

  • Reform plan raises fears of Bank secrecy
    the Bank more power to overhaul troubled financial institutions in the future under its Special Resolution Authority However some have warned that it means there is nothing to stop an unreported and unmonitored flooding of the money market by the undisciplined use of the printing presses It comes after the Bank s Monetary Policy Committee cut interest rates by half a percentage point leaving them at the lowest level since the bank s foundation in 1694 With the Bank rate now at 1 5pc most economists suspect the Government and Bank will soon be forced to start quantitative easing directly increasing the quantity of money in the economy in a drastic attempt to prevent a recession of unprecedented depth Although the amount of easing is likely to be limited news of this increased secrecy will spark comparisons with Weimar Germany and Zimbabwe where uncontrolled use of the central banks printing presses ultimately caused hyperinflation The Bank said it will still publish details of its balance sheet but significantly the data the main indicator of the extent of quantitative easing will not be presented until more than a month has elapsed For instance under the new terms of the law if the Bank were to have embarked on a policy of quantitative easing last month the figures on this would not be published until the end of this month The reforms which are likely to be implemented later this year will make the Bank of England by far the most secretive major central in the world experts said In the US where the Federal Reserve has already cut rates to close to zero and started quantitative easing the main way to track its purchases of securities and the expansion of its balance sheet is through precisely these same weekly accounts Quite

    Original URL path: http://www.911omissionreport.com/bank_secrecy.html (2016-02-14)
    Open archived version from archive



  •