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Front Page Flashcards

1
Q

US Running out of Cash More Quickly

A
  • Gov’t is close to running out of cash (By Oct. 17th)
  • Only $30 billion on hand, which would make it impossible for the gov’t to pay the roughly $55 billion in Social Security, Medicare, and military payments due Nov. 1st.
  • Treasury Secretary: Jacob Lew
  • Must also address the $16.7 trillion borrowing limit.
  • Republicans want 1-year delay on the ACA
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2
Q

Pentagon Contractor Used Iran for Project

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  • Anham CFZO used Iran’s Bandar Abbas seaport last year to land equipment and building materials that were then transported across Iran.
  • Violates sanctions
  • Used route to complete a warehouse at Bagram military base near Kabul so Anham CFZO could win Pentagon contract.
  • Defense Dept’s “Defense Logistics Agency” is overseeing the contract.
  • Anham CFZO owned by a consortium of Saudi, Jordanian, and US companies.
  • US officials banned companies from doing business with Tidewater Middle East Co. (owned by Iran’s Qod revolutionary force)
  • Anham wanted to become Pentagon’s “Subsistence Prime Vendor”
  • Supplies entered Afghanistan from two entry points: Islam Qala in Iran, and Aqina in Turkmenistan
  • Persian New Year: Norwuz
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3
Q

The New Asylums: Jails swell with Mentally Ill

A
  • America’s prisons are the new asylums
  • Correctional facilities define mental illness differently from civil institutions.
  • Country’s three largest jail systems: Cook Co., Illinois; Los Angeles Co., California; New York City, New York.
  • Texas has most prisoners in country.
  • half of Oregon’s inmates are mentally ill
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4
Q

JP Morgan Settlement talks hit $11 Billion

A
  • US Attorney General Eric Holder rejected bank’s offer of a $3 billion payment to end criminal and civil charges.
  • While potential settlement is large, it may not resolve one of the biggest dangers for the bank: the potential for criminal charges stemming from the mortgage-backed securities probe.
  • Justice Dept is leading the mortgage-backed securities negotiations, which also include the Federal Housing Finance Agency and New York Attorney General Eric Schneiderman
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5
Q

Baseball’s Doll Bobbles Leave Fans’ Heads Spinning

A
  • the bobblehead
  • Mariano Rivera
  • bobblesgalore.com
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6
Q

Syrian Rebels Snub Leaders in Exile

A
  • a group of rebel insurgents have rejected FSA leadership in response to what they perceive as lack of international support.
  • 13 rebel groups, including terrorist-designated Jabhat al-Nusra, signed a statement rejecting the FSA.
  • Not necessarily a formal break from FSA or its political arm, the Syrian Opposition Coalition.
  • three of the 13 groups: Liwaa al-Tawheed, Liwaa al-Islam, and Suqour al-Sham are in the Western-backed SUPREME MILITARY COUNCIL, the FSA’s highest governing body.
  • FSA SUPREME MILITARY COUNCIL CHIEF OF STAFF: Gen. Salim Idriss
  • Coalitions newly elected interim Prime Minister: Ahmed Tohme
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7
Q

Egypt Furthers Media Pressure with Closure of Islamist Paper

A
  • Egypt’s interim gov’t wants to break away from Muslim Brotherhood, and closed its last newspaper: FREEDOM AND JUSTICE NEWSPAPER
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8
Q

Iranian President Condemns Holocaust

A
  • Iranian president HASAN ROUHANI broke from Iranian gov’t’s tradition of questioning the holocaust.
  • Iran foreign minister: JAVAD ZARIF
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9
Q

Pakistan Quake Death Toll Tops 300

A
  • 7.7 quake in western BALUCHISTAN province
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10
Q

FHA, Facing Losses, Likely to Tap Treasury

A
  • Federal Housing Administration is likely to require an infusion from the US Treasury at the end of the month.
  • possibly $1 Billion
  • The FHA’s main mortgage program hasn’t required tax-payer support in its 79-year history.
  • The FHA doesn’t originate loans, but insures lenders against losses, guarantees mortgages to borrowers who make down payments as little as 3.5%.
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11
Q

Wealth Rebound Continues

A
  • Rebounding home prices and a rising stock market helped boost household wealth by more than $1.3 trillion in 2Q of this year.
  • 7th consecutive quarterly increase, adjusting for inflation: still 4% below its peak.
  • Economists fear rising interest rates could damage housing recovery
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12
Q

Israel President, in Shift, Backs US Approach on Iran, Syria

A
  • Israeli President SHIMON PERES
  • Peres’, 90 years old, is largely ceremonial
  • Palestinian president: MAHMOUD ABBAS
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13
Q

Brain Power Enough to Control ‘Bionic’ Leg

A
  • Rehabilitation Institute of Chicago
  • Sensors receive impulses from nerves and muscles that once carried signals to his missing knee and ankle
  • One drawback: it isn’t fit for running yet
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14
Q

Tiny Computer Makes a Big Splash

A
  • Scientists unveiled the first working computer built entirely from carbon nanotube transistors.
  • These seamless cylinders of ultra-pure carbon are among many exotic materials researchers are investigating - including quantum particles inside every atom and the DNA inside every cell - as electronics developers near the limits of conventional SILICON transistors.
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15
Q

H-P Fires Firm That Hired Alleged Shooter

A
  • HP fires company THE EXPERTS after they failed to document serious mental illnesses that AARON ALEXIS had, when THE EXPERTS had hired him
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16
Q

Kenya Starts Probe After Siege at Mall Ends

A
  • British woman, SAMANTHA LEWTHWAITE, who was married to man who was involved in 2005 London bombings, is nicknamed THE WHITE WIDOW.
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17
Q

Race to Lead Staid Delhi Club Turns Into ‘a Bit of a Tamasha’

A
  • Delhi Gymkhana club, long the starchy preserve of India’s bureaucratic and military elite members usually conduct their affairs over whiskeys or games of bridge
  • tamasha = spectacle
  • one member is seeking unprecedented 3rd term as club president.
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18
Q

UN Members Agree on Syria Disarmament

A
  • The resolution doesn’t place blame on the Syrian gov’t for the Aug. 21 chemical weapons attack in Damascus
  • Organization for the Prohibition of Chemical Weapons, which is the implementing body of the 1997 Chemical Weapons Convention
  • P5+ members = China, France, Russia, UK, and the US
  • UN Secretary-General Ban Ki Moon
  • diplomats said the words SHALL NOT make this legally binding on Syria
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19
Q

Obama Legacy Staked to Health Law

A
  • Community health centers across the country are staffing up and television commercials are ready to go - efforts that will continue even if the government shuts down.
  • Hose Majority Leader: ERIC CANTOR (R., VA)
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20
Q

New Hitch Delays Rollout of Small-Business Exchanges

A
  • cuidadodesalud.gov = spanish language version of marketplace
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21
Q

Senate Starts Debate on Reining in NSA

A
  • Intelligence committee chairman DIANNE FEINSTEIN (D., CALIF.) and Sen. SAXBY CHAMBLISS (R., GA) detailed a proposal that would codify many of the self imposed limits that the NSA has placed on programs to collect American’s phone records and communcations from US companies for foreign intelligence purposes.
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22
Q

Pakistan’s Iran Pipeline to Proceed

A
  • Pakistan PM NAWAZ SHARIF will proceed with a plan to build a gas pipeline from Iran, despite objections from the US, and said that he will use his speech at the UN on Friday to hit out against US drone strikes in his country.
  • will also meet with India PM MANMOHAN SINGH to discuss peace in Kashmir.
  • Also wants peace accord with Taliban in NORTH WAZIRISTAN to stop violence in his country.
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23
Q

US, Indian Summit to Seek Closer Relations

A
  • MANMOHAN SINGH wants to deepen military relations and increase cooperation on nuclear energy.
  • Also wants to sign preliminary agreement with WESTINGHOUSE ELECTRIC CO. and an Indian State Run company, laying the groundwork for building a nuclear-power plant in India using US technology.
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24
Q

Greenpeace activists denied bail in Russia

A
  • Protesters tried to board OAO Gazprom Oil platform in the arctic.
  • were aboard Greenpeace vessel: ARCTIC SUNRISE
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25
Q

No Movement in Shutdown Standoff

A
  • Still no compromise between House Republicans and Senate Democrats.
26
Q

US Rises to No. 1 Energy Producer

A
  • The US is overtaking Russia as the world’s largest oil and natural gas producers
  • Russia has yet to adopt techniques such as hydraulic fracturing
  • Russia’s exports have been hurt by weak European Economic Performance
  • Bakken Oil Field & Eagle Ford Shale are leading the way
  • US shale production over the next decade relies on: commodity prices, government regulation, and public support
27
Q

Syrian Regime Chokes off Food to Town that was Gassed

A
  • Pro-Regime troops have circled the town of Moadhamiya and cut off supplies into the small town.
  • The town is famed for its olive orchards
28
Q

Investor Launches Attack on Sotheby’s

A
  • Dan Loeb is attempting to usurp William Ruprecht from his position as CEO of Sotheby’s auction house, claiming he doesn’t understand which type of art sells the best.
  • Sotheby’s was founded by a London Bookseller in 1744 and claims to be the oldest company listed on the New York Stock Exchange.
  • Mr. Loeb is well known in the industry for his “poison-pen” letters.
29
Q

A Spring Celebration of Love Moves to the Fall - And Turns into A Fight

A
  • Teens in Europe are celebrating Holi - the Hindu festival that welcomes spring - just as autumn was approaching Europe.
  • The Rainbow hues erase social, religious, and racial differences.
  • Two companies, Holi One, and Holi Festival of Colours, are in a heated war to bring the festival to other parts of the world, and reap profits from its popularity.
  • Holi Powder = gulal
30
Q

Draghi Warns of Shutdown Risk

A
  • ECB President Mario Draghi warned that the US gov’t shutdown could send ripple effects throughout the world.
  • Despite weak recovery, Mr. Draghi sought to reassure investors that the ECB is open to additional rate cuts and lending programs.
  • He may use LTROs, or Long-term Refinancing Operations.
31
Q

Jury Clears Jackson’s Concert Promoter

A
  • Jury found Anschutz Entertainment Group not liable for the singer’s death.
  • Katherine Jackson, Michael’s mother, sought $1.2 billion in damages.
  • Family claims AEG was negligent in hiring doctor to inject a powerful surgical anesthetic to help with the singer’s sleeplessness.
  • Doctor = Conrad Murray, who applied the powerful sedative propofol.
32
Q

Reid Sets Tone for Democrats in Shutdown Fight

A
  • Senate Majority Leader Harry Reid is now public enemy no. 1 with GOP leaders.
  • The Senate Conservatives Fund, a super PAC founded by Former Sen. Jim DeMint (R., S.C.), has started running political ads aimed at Mr. Reid and the Democrats.
33
Q

Gov’t shutdown Pinches Low-Income Aid Programs

A
  • Preschool activities, welfare benefits, and vouchers for infant formula have taken a hit with the recent gov’t shutdown.
  • Head Start programs at preschools have closed in various states.
  • The Special Supplemental Nutrition Program for Women, Infants and Children, known as WIC, provides vouchers for infant formula and food to low-income families with young children.
  • The impact on the government’s main welfare program, called Temporary Assistance for Needy Families, will also vary by state.
34
Q

Health Insurance Websites Still Sluggish

A
  • The Department of Health and Human Services said its site, which operates the online marketplaces for 36 states, continued to run slowly.
35
Q

Russia Calls on Syria to Allow Aid

A
  • Russia agreed to a United Nations Security Council demand for its ally Syria to stop blocking humanitarian assistance to millions of Syrian civilians whose lives are at risk amid the country’s raging civil war.
36
Q

Dispute Snarls US-Afghan Talks

A
  • U.S. and Afghan negotiators are far from agreement on some fundamental issues in talks on a long-term American military presence here.
  • Afghan President = Hamid Karzai
  • Failure to reach an agreement with Kabul would force the U.S. to completely withdraw from Afghanistan, as happened in Iraq when negotiations fell through in 2011.
  • In another possible delay, Mr. Karzai says the security agreement should also be approved by the Loya Jirga, a traditional gathering of local representatives that usually takes about a month to convene.
37
Q

Italy’s Letta Survives but Challenges Loom

A
  • Mr. Berlusconi plunged the Letta government into crisis last weekend when he ordered five ministers representing his People of Freedom party in the coalition to resign, and called for new elections just seven months after the last one.
  • But the laundry list of problems facing Italy is daunting. Italy has the highest labor taxes in the European Union.
38
Q

Intensive-Care Units Pose Long-Term Brain Risk, Research Says

A
  • Nearly 80% of patients with prolonged ICU stays showed cognitive problems a year or more later, and more than half exhibited effects similar to Alzheimer’s disease and traumatic brain injury.
39
Q

Russian Embassy in Libya Attacked

A
  • An armed mob attacked the Russian Embassy compound in the Libyan capital Tripoli Wednesday after a Russian woman was accused of killing a Libyan air force pilot.
40
Q

No Charges in Probe of Fannie Venture

A
  • Four employees at Fannie Mae who were placed on administrative leave two years ago, have been allowed to return to work.
  • The employees were investigated in connection with contracts awarded for a joint venture to manage foreclosed apartment properties.
  • The investigation was initiated by the inspector general of the Federal Housing Finance Agency.
41
Q

Court To Halt Some BP Spill Pamyents

A
  • A federal appeals court ordered a lower-court judge to halt payments to some Gulf Coast businesses that say they suffered damage after the 2010 oil spill in the Gulf of Mexico.
  • Earlier this week Judge Barbier opened the second phase of a three-part civil trial to determine how much BP would pay in Clean Water Act fines.
42
Q

Arrest Made of Alleged Head of Secret Online Drug Market

A
  • Silk Road
  • Ross Ulbricht, 29, was caught in a San Francisco Public Library with incriminating evidence on his laptop.
  • Online, he was known as “dread pirate Roberts”.
  • The system remained anonymous for so long because it relied on a system known as the Tor network, a legal service that masks the source of Internet traffic by routing it through a system of volunteer computers all over the world. It is designed to make it “practically impossible” to pinpoint the physical location of a computer surfing the Internet.
43
Q

Twitter Reveals $1 Billion IPO Plan

A
  • Twitter Inc., on Thursday revealed plans to raise up to $1 billion in a public offering, looking to cash in on a messaging service that has transformed public conversation but is still losing money and facing challenges attracting new users and advertisers.
  • Twitter CEO = Dick Costolo
  • Largest Twitter Shareholder is Evan Williams
44
Q

Citigroup Fined Over Early Release of Report on Apple Supplier

A
  • Thursday’s consent order centers on the conduct of Mr. Chang, a Taiwan-based Internet and hardware analyst, who allegedly gave SAC, T. Rowe Price, Citadel and GLG Partners a forecast showing that orders for Apple Inc.’s iPhone would go down significantly.
45
Q

GOP Begins Search for Broad Deal on Budget

A
  • Senior Republicans in Congress, frustrated over their inability to strike a deal to reopen the government, began shifting from their drive to undercut the 2010 health-care law, which has been the central element of the dispute, toward a broader budget deal.
46
Q

Brokers Bounce from Troubled Firm to Troubled Firm.

A
  • The pattern of brokers moving from one problem firm to another, according to a former broker, is sometimes called “cockroaching”.
  • people claiming wrongdoings must use Finra’s arbitration process, which investors must use to settle disputes, instead of courts, under agreements they sign upon opening brokerage accounts.
47
Q

When Holidays Collide, You Could Get the Menurkey

A
  • To the dismay of traditionalists, the holiday season seems to shift earlier every year, with retailers selling Christmas decorations well before Halloween. But this year, the season will get a legitimate jump-start of sorts—at least for millions of American Jews.
  • In a rare convergence of the calendar, Thanksgiving and the first day of Hanukkah, the eight-day Jewish festival of lights that typically commences close to Christmas, fall on the same date in 2013: Nov. 28
  • It is a holiday mashup that has happened only once before—in 1888—according to those who track the Jewish calendar. And it is one that isn’t set to happen again for potentially another 70,000-plus years.
48
Q

Jury Indicts 13 for Suspected Cyber Attacks

A
  • Court indicted 13 alleged members of hacker-group Anonymous.
  • The hackers took part in 2010’s “Operation Payback” that focused on large multi-national firms.
  • The hackers were allegedly upset at the freezing of payments to WikiLeaks, as well as the discontinuation of the file-sharing site “The Pirate Bay.”
  • Suspects downloaded and used LOIC (Low Orbit Ion Cannon) to launch distributed-denial of service attacks.
49
Q

Former Warlord Enters Afghan Race

A
  • A former Islamist warlord who brought al Qaeda’s leading figures to Afghanistan registered Thursday to run in the country’s presidential elections.
  • Abdul Rasoul Sayyef, the most controversial and conservative candidate in the elections, has a decent shot at winning.
  • If Mr. Sayyef were to be elected, this could be disastrous to US attempts to aid and protect the country, possibly plunging the country into civil war.
  • Abu Sayyaf, a terrorist organization out of the phillipines, is named after him.
50
Q

Heavy Bill Comes Due for Brazil’s Middle Class

A
  • Brazil’s economy has slowed, and with that slowdown comes a credit crunch that consumers are feeling as they realize they are unable to pay back their loans.
  • Interest on an average loan: 37%
  • Economists say Brazil focused too heavily on policies designed to increase consumption instead of completing ports and roads to help economic production in the long-run.
  • Dilma Rousseff hir
50
Q

Heavy Bill Comes Due for Brazil’s Middle Class

A
  • Brazil’s economy has slowed, and with that slowdown comes a credit crunch that consumers are feeling as they realize they are unable to pay back their loans.
  • Interest on an average loan: 37%
  • Economists say Brazil focused too heavily on policies designed to increase consumption instead of completing ports and roads to help economic production in the long-run.
  • Dilma Rousseff hired tens of thousands of gov’t workers and expanded its welfare system.
  • Infrastructure plans have stalled.
  • Rousseff announced on Sept. 2nd that Brazil’s gov’t lent around $500 million in three months so people in subsidized home mortgage programs could buy home appliances too: “My Better House” program.
51
Q

Yellen Is Obama’s Choice as Fed Chief

A
  • Obama has nominated current Fed Vice-Chairwoman Janet Yellen to head the Fed Reserve.
  • She’s been 2nd in command since 2010.
  • Her biggest challenge: deciding when and how to wean the financial system off easy money without torpedoing a fragile economy.
  • As chairwoman, she would lead a divided committee of 19 policy makers.
  • Fed has 12 independent regional banks.
52
Q

Iran Readies Offer to Limit Its Nuclear Program

A
  • Iran is preparing a package of proposals to halt production of near-weapons-grade nuclear fuel.
  • These include limits on the number of centrifuges operating, enrichment amounts, and the need for verification.
  • The P5+1 group offered to end sanctions in return for Tehran suspending its production of 20%-enriched uranium and ceasing activities at is Qom site.
  • Iran may cooperate with the UN’s nuclear watch-dog: The International Atomic Energy Agency.
53
Q

Iran Readies Offer to Limit Its Nuclear Program

A
  • Iran is preparing a package of proposals to halt production of near-weapons-grade nuclear fuel.
  • These include limits on the number of centrifuges operating, enrichment amounts, and the need for verification.
  • The P5+1 group offered to end sanctions in return for Tehran suspending its production of 20%-enriched uranium and ceasing activities at is Qom site.
  • Iran may cooperate with the UN’s nuclear watch-dog: The International Atomic Energy Agency.
54
Q

Maine to Allow Prescription-Drug Imports

A
  • The law, the first of its kind, sanctions the direct purchase of mail-order drugs from some foreign pharmacies.
  • Pharm companies in the US are worried about their bottom line, especially if other states adopt this cost-saving measure.
  • They claim that importing drugs compromises the “safety” of the consumer, but thus far no problems have been reported.
55
Q

Maine to Allow Prescription-Drug Imports

A
  • The law, the first of its kind, sanctions the direct purchase of mail-order drugs from some foreign pharmacies.
  • Pharm companies in the US are worried about their bottom line, especially if other states adopt this cost-saving measure.
  • They claim that importing drugs compromises the “safety” of the consumer, but thus far no problems have been reported.
56
Q

FAA Recalls 800 Safety Staff

A
  • The FAA is ending furloughs for some 800 inspectors and other safety staff.
  • National Air Traffic Controllers Association wants to end the budget discussions so that training can continue.
57
Q

FAA Recalls 800 Safety Staff

A
  • ## The FAA is ending furloughs for some 800 inspectors and other safety staff.
58
Q

Turkey Lifts Ban On Scarves In Offices

A
  • Turkey lifted a ban on public employees wearing the Islamic head scarf following decades of wrangling between pious conservatives and the secularist establishment.
  • Turkish PM: Recep Tayyip Erdogan
59
Q

Bo Xilai Formally Appeals Corruption Conviction

A
  • Bo Xilai has formally filed an appeal against his conviction for bribery, embezzlement and abuse of power.
  • Sentenced by the Intermediate People’s Court in Jinan.
  • The appeal will be heard by the Higher People’s Court in Shandong province, where Jinan is located.
60
Q

Alleged ‘Skipper’ Held in Shipwreck

A
  • Prosecutors said on Tuesday that they were investigating a Tunisian man over his possible role in bringing to Italy a ship packed with hundreds of African migrants that sank last week.
  • Khaled Bensalam
  • The European Union’s Home Affairs Commisioner Ceclia Malmstrom reached an agreement with the 28-bloc nation to strengthen the EU’s Frontex campaign - its continental immigration policy.

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