text:
Scoundrels: Political Scandals in American History—The Savings & Loan Scandal
As I discuss in my forthcoming book Scoundrels: Political Scandals in American History, the savings and loan (S&L) crisis has been almost forgotten, but in its day, it attracted its fair share of media coverage. From 1986 until 1995, more than 1,000 of the 3,234 savings and loans associations in the United States failed. The failures were attributed to numerous causes, including poor management and lax regulatory oversight. The S&L crisis of that era is the story of an evolving industry that relied on the good graces of members of Congress who were overly anxious to assist their constituents, resulting in billions of dollars of taxpayer bailouts—estimated at between $150 billion and $175 billion—for an industry that should have been scrutinized to a greater degree.
S&Ls—sometimes referred to as thrift banks, savings banks, or savings institutions—resemble commercial banks in some respects. S&Ls provide traditional services such as deposits, loans, mortgages, debit cards, and checks, but they focus on residential customers whereas commercial banks generally focus on corporations and large businesses. S&Ls initially were established to service individuals' needs, especially the needs of customers in communities where the S&Ls were built. Commercial banks typically are managed by a board of directors hired by stockholders who are far away from the individual customer base. S&Ls, however, either are owned by depositors and borrowers or they are governed by a consortium of stockholders who possess a controlling share of the S&L stock.
As S&Ls were conceived in England during the eighteenth century, they were, in effect, "the poor man's commercial bank." An S&L was a not-for-profit cooperative designed to aid working class men in buying a home. S&L owners and operators invested time and money in the local community. The creation of S&Ls in England, and later the United States, reflected the increasing demand for affordable housing, especially in the years following World War II.
S&Ls grew by leaps and bounds, with apparently no end in sight. To attract depositors, S&Ls sometimes engaged in rate wars with commercial banks. As the wars increased, Congress stepped in to set rate limits in 1966. A decade later, S&Ls faced unprecedented challenges owing to stagflation, an unusual phenomenon. Traditional economic theory posits that high interest rates, accompanied by inflation, occur when the economy is growing and the demand for loans is rising. Conversely, low growth reduces demand, hence it results in lower inflation. During the 1970s, however, the American economy was caught in a period of slow growth, high interest rates, and inflation. The resultant stagflation almost decimated S&Ls.
Regulators strictly controlled the rates that thrift banks could pay on deposits, which meant that in a time of rising interest rates, depositors had an incentive to withdraw their funds in search of an investment that paid a higher dividend. In the meantime, customers who wanted to qualify for a mortgage found it difficult to do so because the low economic growth often translated into lower wages at precisely the time that higher interest rates required them to pay more for a home. These economic conditions reduced the demand for single-family home mortgages, which in turn undercut the bottom line for many S&Ls.
To remain solvent in this rough economic climate, S&L managers sought creative means of increasing revenue. Some S&L's offered interest-bearing checking accounts and alternative mortgages. Lobbyists for the industry insisted that S&Ls were over-regulated, and that relief must be provided if the industry hoped to survive. As the 1970s progressed, S&Ls increasingly failed.
The Federal Savings and Loan Insurance Corporation (FSLIC), an institution dating from the Great Depression, administered deposit insurance for S&Ls. As the institutions failed, FSLIC supplied replacement funds, but the agency's resources were limited. By 1983, FSLIC had $6 billion in capital to insure S&Ls, but the cost of providing funds for failed institutions was approximately $25 billion. Realizing that Congress would not provide additional funds, regulators had few viable options. They were forced to allow insolvent S&Ls to operate in hopes that the institutions would eventually generate enough revenue to stay in business. It was a bold gamble on the financial health of weak, often poorly managed, and undercapitalized institutions.
Even as regulators struggled with the problem of how to handle insolvent S&Ls, Congress debated the virtues of deregulating the industry so that institutions could offer a larger array of services. It was a curious response to a looming problem. Rather than fret over the means of bailing out bankrupt S&Ls, Congress debated whether it should allow the institutions to expand their services in hopes of outgrowing their financial woes.
In the early 1980s, Congress enacted new statutes to provide a lifeline to S&Ls. The first new law, the Depository Institutions Deregulation and Monetary Control Act of 1980, signed by President Jimmy Carter on March 31, 1980, was designed, in the words of the statute, "to facilitate the implementation of monetary policy, to provide for the gradual elimination of all limitations on the rates of interest which are payable on deposits and accounts, and to authorize interest-bearing transaction accounts." In the Garn–St. Germain Depository Institutions Act of 1982, Congress deregulated S&Ls and allowed them to provide adjustable-rate mortgages. The industry hailed the laws as exactly what thrift banks needed to overcome their problems. With reduced regulatory oversight, the ability to offer more services, and the elimination of the minimum number of stockholders required to form an S&L, even undercapitalized, poorly managed institutions were free to pursue new business.
Deregulation had the desired effect. S&Ls grew rapidly between 1982 and 1985—more than twice as fast as commercial banks during that same time. Compared with commercial banks, S&Ls benefited from less regulation; indeed, they had enormous incentives to maximize profits by participating in risky, high-yield investments. In fact, the only way that S&Ls could grow as rapidly as they did was to pursue risky financial opportunities. Times were good, though, and few S&L managers thought the bubble would burst.
Unfortunately, all bubbles eventually burst. As S&Ls increasingly funded home mortgages for customers who were less financially stable than a traditional borrower, the institutions became vulnerable to any market deviations or interest rate fluctuations. Predictably, their losses mounted, and they failed in ever larger numbers. L. William Seidman, a former chairman of the Federal Deposit Insurance Corporation (FDIC) and the Resolution Trust Corporation (RTC), remarked that the "banking problems of the '80s and '90s came primarily, but not exclusively, from unsound real estate lending."
As the 1980s progressed, the mounting problems with S&Ls became readily apparent to anyone who examined the failures. Many institutions held portfolios replete with risky investments. Managers often had little appreciation of how undercapitalized their thrift banks had become, nor did they understand the role of new technology in allowing other types of financial institutions to compete directly with S&Ls. The lack of effective regulation and the willingness of some S&L operators to take advantage of loopholes in existing regulations ensured that a financial collapse was increasingly likely.
From 1986 through 1989, FSLIC closed almost 300 S&Ls, requiring the agency to reimburse depositors for the loss of $125 billion in assets. Later, the RTC, another agency created to oversee S&Ls, was forced to reimburse depositors for an additional 747 S&Ls from 1989 until 1995. When state insurance funds failed, the federal government had to bail out some state S&Ls as well.
Although more than 1,000 institutions failed in the 1980s and 1990s, the failures seldom made the news. Eventually, some S&Ls captured headlines owing to the unmitigated venality and high-profile activities of the participants. As an example, a federally chartered S&L, the Midwest Federal Savings & Loan, failed in 1990. It became infamous when the chairman, Hal Greenwood Jr., and his daughter, Susan Greenwood Olson, along with former executives Robert A. Mampel and Charlotte E. Masica, were convicted on racketeering charges. Midwest's collapse cost taxpayers $1.2 billion.
The collapse of the Silverado S&L attracted press attention in 1988 because Neil Bush, son of Vice President George H. W. Bush, served on the institution's board of directors. Critics charged that Neil Bush had accepted a loan from Silverado, but he insisted that he was innocent of any improprieties. A subsequent investigation found that Bush had, in fact, engaged in "breaches of his fiduciary duty involving multiple conflicts of interest." Bush did not face criminal charges, but he and his fellow directors fought a civil suit filed by the FDIC, eventually settling the case. Silverado directors also settled an RTC lawsuit, this time for $26.5 million. In the final accounting, the Silverado S&L failure cost taxpayers $1.3 billion.
Arguably, the worst S&L failure—and certainly the most infamous—concerned the Lincoln S&L. Five United States senators were accused of improperly contacting the Federal Home Loan Bank Board (FHLBB), the agency that regulated the S&L industry (and administered FSLIC) at the time. The senators acted on behalf of Charles H. Keating Jr., chairman of the Lincoln Savings and Loan Association. Lincoln failed in 1989, costing American taxpayers more than $3 billion, and leaving 23,000 Lincoln customers holding worthless bonds.
The debacle originated in 1985, when FHLBB chairman Edwin J. Gray instituted a new rule allowing S&Ls to hold no more than ten percent of their assets in "direct investments," which limited their ability to own certain financial instruments. The purpose of the rule was to prevent S&Ls from continually taking on risky investments, declaring bankruptcy, and requiring taxpayer-funded bailouts.
Keating was an especially aggressive S&L officer. He had taken advantage of a multitude of risky deals to build Lincoln Savings into a powerhouse institution. Along the way, Keating had knowingly violated the FHLBB's rules, including Gray's prohibition on holding more than ten percent of the S&L's assets in direct investments. Keating was politically well connected, and he sought to use those connections to repel a FHLBB inquiry into Lincoln's practices.
With an eye toward staffing the FHLBB was friendly regulators, Keating had persuaded President Ronald Reagan to appoint a real estate developer and Keating confederate, Kee H. Henkel Jr., to the bank board using a recess appointment. Keating also commissioned a study from Alan Greenspan, who was then a private economist but later served as chairman of the Federal Reserve Board, to demonstrate that direct investments by S&Ls were safe and secure.
The measures were insufficient to insulate Lincoln Savings from the regulators' scrutiny. Henkel was forced to resign from the FHLBB when news broke that he had financial ties to Lincoln, having accepted loans from the institution. Frustrated with the results of his maneuvers, Keating knew that he must take additional steps to hobble the regulators.
Following the 1986 congressional elections, the Republicans no longer controlled the United States Senate, but that was not a problem. Keating had contacts in both political parties. He approached Senator Alan Cranston, an influential Democrat from California, to ask that the senator remove Ed Gray from the FHLBB. If Keating could not persuade agency personnel to see things his way, he would facilitate a change in personnel. Lincoln Savings was in California, which meant that the S&L was technically a Cranston constituent. Keating spread his money around, donating $39,000 to Cranston's 1986 reelection campaign as well as $850,000 to organizations allied with Cranston's various pet projects. Moreover, Keating contributed $85,000 to the California Democratic Party.
Keating's efforts did not stop with Cranston. He also contributed $55,000 to the 1988 reelection campaign of Senator Dennis DeConcini of Arizona. Because Keating lived in Arizona, he was DeConcini's constituent. Later, after Keating came under fire for his actions on behalf of Lincoln, the senator returned the contribution.
Senator John Glenn of Ohio, a legendary former astronaut-turned-lawmaker, received $34,000 in donations from Keating and his allies for his 1984 reelection campaign, followed by $200,000 donated to a political action committee that Glenn owned. Keating operated an Ohio-based business, which provided the necessary link to claim Glenn as his senator.
Senator John McCain, an Arizona Republican, had known Charles Keating socially since 1981. Over a five-year period starting in 1982, Keating and his associates had contributed $112,000 to McCain's campaign fund. Aside from the campaign, McCain's family members had invested in a real estate deal with Keating. McCain had traveled on Keating's private jet and stayed as a visitor at a Keating vacation home. When the trips became public news, McCain quickly reimbursed Keating for the travel costs.
Keating also contributed $76,000 to Donald Riegle, a Michigan Democrat, for Riegle's 1988 Senate campaign. Because Keating owned a hotel in Michigan, he could claim to be Riegle's constituent. The senator eventually returned the contribution.
These five senators became known as the "Keating Five" because of their cozy relationship with the financier, and because they were willing to intervene with the FHLBB on Keating's behalf. Of course, Charles Keating had not contributed funds to the senators' reelection committees and cultivated the relationships because he enjoyed their company or marveled at their sparkling wit. He knew that one day he might need a favor.
The day came when Keating called in the favor. Facing the possibility that the FHLBB would seize Lincoln S&L for insolvency, Keating told Ed Gray that "some senators out west are very concerned about the way the bank board is regulating Lincoln Savings." It was a thinly veiled threat, but one that Keating intended to follow through with if Gray and his associates at the FHLBB did not relax their scrutiny. When Gray appeared unfazed by the comment, Keating assured him that "you'll be getting a call."
DeConcini was amenable to intervening on Keating's behalf, but McCain initially balked. Recognizing the political peril, the Arizona senator did not want to besmirch his public reputation or face legal recriminations. An angry Charles Keating insisted that his long-time friend owed him assistance. Keating and McCain exchanged heated words, but the senator relented.
On April 2, 1987, Ed Gray met with senators DeConcini, Glenn, Cranston, and McCain in DeConcini's office. The senators' staffers were not present. When DeConcini mentioned "our friend at Lincoln," Gray told them that he was not personally involved in the Lincoln S&L case, but that he could put the senators in touch with the appropriate FHLBB regulators.
Exactly a week later, the Keating Five met with the FHLBB regulators in DeConcini's office. "We wanted to meet with you because we have determined that potential actions of yours could injure a constituent," DeConcini said at the outset. Recognizing that the meeting could be characterized as lawmakers unduly influencing federal regulators, the senator hastened to add that "I wouldn't want any special favors for them." After stumbling through more excuses, he explained that "I don't want any part of our conversation to be improper." Everyone understood the disingenuousness of DeConcini's remarks.
Following the Arizona senator's dithering, John Glenn got to the point. "To be blunt," he said, "you should charge them or get off their backs."
It was an awkward moment. Finally, the FHLBB representatives broke the silence. To ensure that the senators understood how risky their position was, the regulators said that they were pursuing a criminal investigation against Lincoln Savings & Loan. The meeting suddenly took on a new, ominous tone. Five United States senators were interceding into a pending criminal case against a constituent. John McCain understood how vulnerable he was. After the session concluded, he severed all ties with Charles Keating and his businesses.
FHLBB regulators subsequently wrote a report recommending that the United States government seize Lincoln owing to the institution's unsound financial practices. Ed Gray's tenure was ending, so he deferred action on a criminal referral to the United States Department of Justice (DOJ). Later, Gray's successor, M. Danny Wall, expressed sympathy for Lincoln. Consequently, he refused to act on the report. In May 1988, the FHLBB negotiated an agreement with Keating and did not refer a criminal case to DOJ.
Despite their precarious positions, Cranston, DeConcini, and Glenn continued their efforts on Keating's behalf even after they knew about the possible criminal charges. The senators set up multiple meetings with influential members of Congress, including House Majority Leader Jim Wright, who later became speaker of the House and experienced his own problems with the S&L issue. The senators' actions blurred the thin line between conscientious constituent services and improper influence peddling.
It was many years before the S&L crisis became a salient political issue. The complex nature of the transactions and the closed-door meetings with tight-lipped participants ensured that the facts were easily concealed. An aggressive press corps eventually brought the facts to light.
When the stories emerged, the Senate Ethics Committee investigated the Keating Five and arranged for varying punishments. Cranston received the harshest penalty: The ethics committee publicly reprimanded him. The committee also criticized Riegle and DeConcini for acting improperly but stopped short of issuing a public reprimand. John Glenn and John McCain escaped punishment for improper actions, but committee members concluded that the two men had exercised poor judgment.
Of the five, Glenn and McCain successfully ran for reelection, and McCain eventually became the Republican nominee for president of the United States in 2008. Looking back on the affair, McCain called the Keating Five investigation the low point of his life. In the meantime, according to public opinion polls, the S&L crisis reinforced citizens' views that members of Congress could not be trusted to act appropriately in the public interest.
Even as the Keating Five faced ethics complaints in the Senate, House Speaker Jim Wright faced his own set of challenges involving S&Ls. Like his Senate colleagues, Wright had accepted campaign contributions from Charles H. Keating Jr. It did not stop there. Wright assisted other constituents in their efforts to manipulate the actions of the FHLBB.
Ed Gray vividly recalled the day when Wright called to say he wanted to "come talk with you" about a constituent, "my friend Tom Gaubert," a man sometimes described as an "S&L kingpin." No stranger to political pressure, Gray reflected that "I have been in government long enough to know that you don't have to ask the question explicitly to know what the message is, and I knew what the message was. My impressions were that he was interfering with the regulatory process on behalf of friends, and I thought this was a violation of his job as one of the highest-ranking members in the United States government."
Wright's critics charged that the speaker intervened in numerous instances to assist S&L owners and operators, ostensibly because they were his constituents. As a result, he delayed or deterred regulatory oversight that might have prevented bankruptcies costing taxpayers billions of dollars. After S&Ls failed in increasing numbers and the failures captured headlines, the issue gradually became a scandal. Jim Wright became the face of that scandal, although it was not his S&L interventions alone that sealed his political fate.
He became the focus of ethics investigations alleging that he had used bulk purchases of a book he had written to circumvent House rules on outside earnings by members. Wright also allegedly used improper influence to have the FSLIC deputy director, William K. Black, fired. Having accepted numerous campaign contributions from S&Ls, the speaker apparently acted at the behest of several savings and loans officers. Rather than face a formal inquiry from the House Committee on Standards of Official Conduct, however, Wright resigned from Congress in June 1989 after two-and-a-half years of service as the speaker.
The story of the rise and fall of S&Ls, and the members of Congress who sought to protect the industry, is clearly a story of venality and influence peddling. The moral to the story goes beyond those surface features, however. It is an indictment of the American campaign finance system.
It is a cliché to argue that financing political campaigns is expensive, time-consuming, and broken, but well-worn observations are no less true because of their familiarity. It costs millions upon millions of dollars to win a seat in Congress. Most contributors do not write checks based on disinterested motives. At a minimum, a campaign contributor expects that his or her phone calls will be answered promptly. In some instances, the contributor seeks more than a return phone call.
Elected officials are expected to provide superior constituent service if they hope to remain in office for multiple terms. Yet the line between effective constituent service and an improper quid pro quo relationship can be exceedingly thin. Every member of Congress wrestles with this question. How much should a representative do for a constituent, especially a large campaign donor, and when should the member refuse to act regardless of the size of the check? The need to collect huge sums of money from contributors without selling access to the elected office places a public official in an untenable situation. The joke is that under the nation's campaign finance laws, member of Congress cannot be bought—but they can be rented for a little while.
This conclusion does not relieve elected officials from responsibility for their actions. Ethical practice requires individual responsibility and moral autonomy. It does suggest that elected officials must seek a middle path. On one hand, if they refuse to accept money from big-money donors, corporations, and political action committees, they place themselves at a severe electoral disadvantage. On the other hand, if they accept funding from multiple big-money sources, they can expect to be inundated with requests for favors after the election. If federal campaigns continue to be financed through private contributions from well-funded sources, scandals such as the S&L crisis of the 1980s and 1990s will remain a distinct possibility.


The National Telecommunications and Information Administration (NTIA) is an agency @ U.S. Government Department of Commerce National Telecommunications and Information that is principally responsible for advising the President on telecommunications and information policy issues. It regulates the telecommunications industry in USA. NTIA signed contracts with ICANN to carry out the IANA Functions.
ICANN 1988 (Internet Corporation for Assigned Names and Numbers) is the private (non-government) non-profit corporation with responsibility for IP address space allocation, protocol parameter assignment, domain name system management, and root server system management functions, the services previously performed by the Internet Assigned Numbers Authority (IANA).
ICANN is the current operator of the IANA functions, is obligated by the NTIA agreement to carry out management of the global IP address and AS Number pools according to policies developed by the communities.
The Internet Assigned Numbers Authority (IANA) is a department of ICANN responsible for coordinating some of the key elements that keep the Internet running smoothly. It is a nonprofit private American corporation.
The IANA team mission is responsible for the operational aspects of coordinating the Internet's unique identifiers and maintaining the trust of the community to provide these services in an unbiased, responsible and effective manner.
IANA manages the DNS Root Zone (assignments of ccTLDs and gTLDs) along with other functions such as the .int and .arpa zones.
IANA coordinates the global pool of IP and AS numbers, providing them to Regional Internet Registries.
IANA is the central repository is managing the protocol name and number registries used in many Internet protocols.
On 14 March 2014 the National Telecommunications and Information Administration (NTIA) announced its intent to transition stewardship of the Internet Assigned Numbers Authority (IANA) functions to the global multi-stakeholder community. NTIA asked the Internet Corporation for Assigned Names and Numbers (ICANN), as the IANA functions contractor and global coordinator for the Domain Name System (DNS), to convene a multi-stakeholder process to develop a proposal for the transition.
What Must the Proposal to Transition NTIA's Role Address?
4- Maintains the openness of the Internet.
NTIA will not accept a proposal that replaces the NTIA role with a government-led or an inter-governmental organization solution.
The ICG is the IANA Stewardship Transition Coordination Group. This group was established after the announcement by the NTIA of its intention to transfer the stewardship of the Internet Assigned Numbers Authority (IANA) Functions to the global multi-stakeholder community. The Internet Corporation for Assigned Names and Numbers (ICANN) then convened a multistakeholder process to develop a transition plan. The full role of the ICG is described in its charter [PDF, 45 KB]. The ICG is comprised of 30 individuals representing 13 communities. Those communities include direct and indirect stakeholders. Direct stakeholders are those with direct operational or service relationships with the IANA functions operator; that is internet names, numbers and protocol parameters. Indirect stakeholders are all the other interested and affected parties. ICG members were selected by their respective communities according to their own processes. ICG members are listed here.


Strategic Plan — Discover Monadnock Arts Alive!
Arts Alive! board of directors accepted a 3 year Strategic Plan to take the organization into its 10 year anniversary. We are conducting community outreach to get feedback on where we're headed next.


Iron on Owls - from 5cm to 20cm - 20+ Colours!
We are pleased to announce some extremely cute new iron on owls to our iron on transfer website. Made from the very same high quality iron on material ready to grace your T-Shirts, Bags and other clothing!
Look how cute these iron on Owls are!
Being one of our most requested designs, the owls now come in 2 different styles. The super cute curvy one, or one that our designers thought would be "kinda cool" - "Warrior Owl".
Personally, I love Warrior Owl! Which do you like?
We hope you love our range of iron on owls, remember they can be ordered in any of our colours, and in sizes 5cm, 10cm, 15cm and 20cm!
If you have any suggestions for new designs - or feel we are missing something - please get in contact with us.


text:
Fixed Income Trading
Advanced Fixed Income Trading Concepts
Fixed Income Trading Strategy & Education
Fixed Income Trading Advanced Fixed Income Trading Concepts
Interpolated Yield Curve (I Curve)
Definition of Interpolated Yield Curve (I Curve)
An interpolated yield curve (I curve) is a yield curve derived by using on-the-run Treasuries. Because on-the-run treasuries are limited to specific maturities, the yield of maturities that lies between the on-the-run treasuries must be interpolated. It can be accomplished by a number of methodologies, including bootstrapping and regressions.
Understanding the Interpolated Yield Curve (I Curve)
The yield curve is the curve that is formed on a graph when the yield and various maturities of Treasury securities are plotted. The graph is plotted with the y-axis depicting interest rates, and the x-axis showing the increasing time durations. Since short-term bonds typically have lower yields than longer-term bonds, the curve slopes upwards from the bottom left to the right.
When the yield curve is plotted using data on the yield and maturities of on-the-run Treasuries, it is referred to as an interpolated yield curve, or I curve. Note that on-the-run Treasuries are the most recently issued U.S. Treasury bills, notes, or bonds, of a particular maturity. Conversely, off-the-run Treasuries are marketable Treasury debt consisting of more seasoned issues. The on-the-run Treasury will have a lower yield and higher price than a similar off-the-run issue, and they only make up a small percentage of the total issued Treasury securities.
Interpolation is simply a method used to determine the value of an unknown entity. Treasury securities issued by the U.S. government are not available for every period of time. For example, you will be able to find the yield for a 1-year bond, but not a 1.5-year bond. To determine the value of a missing yield or interest rate to derive a yield curve, the missing information can be interpolated using various methods including bootstrapping or regression analysis. Once the interpolated yield curve has been derived, yield spreads can be calculated from it, as few of the bonds have maturities comparable to those of the on-the-run Treasuries.
The bootstrapping method uses interpolation to determine the yields for Treasury zero-coupon securities with various maturities. Using this method, a coupon-bearing bond is stripped of its future cash flows, that is, coupon payments, and converted into multiple zero-coupon bonds. Typically, some rates at the short end of the curve will be known. For rates that are unknown due to insufficient liquidity at the short end, inter-bank money market rates can be used.
To recap, first interpolate rates for each missing tenor. It can be done using a linear interpolation method. Once all the term structure rates have been determined, use the bootstrapping method to derive the zero curve from the par term structure. It is an iterative process that makes it possible to derive a zero coupon yield curve from the rates and prices of coupon-bearing bonds.
Several different types of fixed-income securities trade at yield spreads to the interpolated yield curve, making it an important benchmark. For example, certain agency Collateralized Mortgage Obligations (CMOs) trade at a spread to the I curve at a spot on the curve equal to their weighted average lives. A CMO's weighted average life will most likely lie somewhere within the on-the-run treasuries, which makes the derivation of the interpolated yield curve necessary.
Understanding the Spot Rate Treasury Curve
The spot rate treasury curve is defined as a yield curve constructed using Treasury spot rates rather than yields. The spot rate Treasury curve can be used as a benchmark for pricing bonds.
Par Yield Curve
A par yield curve is a graphical representation of the yields of hypothetical Treasury securities with prices at par.
Bull Steepener
A bull steepener is a change in the yield curve caused by short-term rates falling faster than long-term rates, resulting in a higher spread between them.
One-Year Constant Maturity Treasury (1-Year CMT)
The one-year constant maturity Treasury is the interpolated one-year yield of the most recently auctioned 4, 13, and 26-week U.S. Treasury bills.
What Is Bootstrapping?
Bootstrapping describes a situation in which an entrepreneur starts a company with little capital, relying on money other than outside investments.
Curve Steepener Trade
Curve steepener trade is a strategy that uses derivatives to benefit from escalating yield differences that occur as a result of increases in the yield curve between two Treasury bonds of different maturities.
How Bond Market Pricing Works
Bond Yield Curve Holds Predictive Powers
Understanding Treasury Yield And Interest Rates
Measuring Bond Risk With Duration and Convexity
Yield to Maturity – YTM vs. Spot Rate: What's the Difference?
Corporate Bonds: An Introduction to Credit Risk

redpajama_set_name: RedPajamaCommonCrawl


Whatever you do for fun, put your business name on it - bicycle, jogging clothes, car, RV, motorcycle, whatever!
Talk to people (at least 10 per day, every day, according to direct marketing experts).
Weave networks. Invite friends from one area of your life to share in others: fellow joggers to Toastmasters, business colleagues to go rock climbing.
Do the same to nurture business referrals.
Have a local organization do something at your business location to promote a good cause.
Promote an event–-even something inexpensive but well-publicized-—for charity.
Get your customers' kids involved—a contest, a tour, sponsor a miniature golf tournament.
Do something newsworthy—and tell the press about it!
Teach a seminar or workshop through your local school, college, or chamber of commerce.
Be a guest on local radio, television or community-access TV.
"You don't always have to hold your head higher than your heart."
Visibility is important. Even if you are not a retail store, good relationships are good for business.
Promote periodic Green or Red Tag sales—special items throughout your web site, store, or even your warehouse.
Location. Location. Location. Consider moving to gain a better location.
Make sure that you truly are convenient to your customers. Can you deliver? Set up a satellite location?
Show your customers that you understand them when they ask for service...or when they have a problem with your service.
Plan your use of couponing, you can make money on every coupon redeemed for an offer too good for customers to resist!
Advertise "no coupon needed for these great prices" sales...just to be different!
Absolutely: Keep a mailing list.
Joint promotions with allied businesses and services will save you time and money, as well as attract a wider customer base!
Co-op mail can stretch your direct mail budget and reach new people.
Inserts in local papers still work for big, motivating promotions when you want to add excitement to your campaign.
Work with your pricing to create attractive and intriguing deals. "Buy one, get a half-price certificate for your next purchase."
Give flowers to customers...especially on delivery of an expensive product or service.
Set up a Kids' Corner in your store or office lobby. You can just entertain, or you can teach customers' children about the business you're in—shoes, computers, electricity.
"...And the one poor child who saved the world + There's 10 million more who probably could + If we all just stopped and said a prayer for them..."
Partner with a nearby travel agency, grocery store, cleaning service—nearly any kind of business—to help them add customers by offering special incentives to your customers.
Offer valet service, or package carry-out service.
Participate in your community. Support what you like.
A reputation is easier to keep than to repair.
Telemarketing can be as simple as calling your good customers to announce a new service or product.
Database marketing means focusing on individuals rather than groups of buyers.
Don't overlook the "second language" market. It's a large and rapidly growing segment of population—advertising in their "home" language is 5 to 10 times more effective than English even though they may speak and read English adequately.
Every customer is a brand new event. Don't let the previous one affect your attitude toward new ones.
Collect customers' business cards for a monthly drawing and build your database!
Be sure you and your employees are generous with business cards. They are inexpensive "billboards."
Make sure your business card says what you do.
Referrals! They're the reward of every business that has matured into an expansion phase. But don't wait for customers and associates to think of it themselves. Tell them you want their friends as customers, too.
Train employees completely. The GAP stores accentuate customer service and product knowledge, suggesting added purchases, and asking for the sale. Think of stores you've walked out of because you weren't served.
INVEST in a BANNER...for your promotions or product news.
Make every ad promote something. Even institutional ads can make selling points about your business.
In print ads, always include a map of how to get to your place. In broadcast, when you give an address, also give a locator: "across from the Big Bank," "Between First and Second streets."
Create calendar-synchronized events—trees for Arbor Day, flowers or jewelry for Mother's Day, framed photos for Grandparents Day, etc. Don't overlook the obscure occasions—people'll remember your timely and HELPFUL promotions.
Redo windows often—make things NEW! So customers will TAKE A LOOK!
Always have a promotional item (doesn't have to be a loss).
Cross-sell more products and services to existing customers.
Make your location a recycling drop, or a post office, a Western Union or UPS or copy center, notary—anything that generates foot traffic—if it pays for itself, so much the better!
Adjust your hours to suit the community you serve.
"...And when you get the choice to sit it out or dance, I hope you dance."
Be as eager to succeed with somebody else's ideas as you are with your own.
Promote a solid guarantee. Make it no-risk, "money-back-plus," or parts and labor. Make it longer than usual—45 days, a full year, or forever! Write it out in enough detail to show your customer what they're getting.
Every employee works in your customer service department. Develop business-building customer service by keeping employees well informed about your company goals, services and abilities; by focusing on problem-solving; and by encouraging your staff to contribute new customer service ideas.
Take a break from stress by imagining how your favorite cartoon character might handle the same situation.
Meet with your staff for five minutes each day for a month. Ask what they did yesterday and what they have planned for today. This way, they'll develop the habit of planning their work.
Collect a customer base. Build a customer loyalty program. Promote sales with variations on the "frequent flier" idea—increased discounts for higher purchase levels, special incentives for good customers.
Improve retail sales in your store. Always say "Hi" to customers as soon as you see them. Ask if you can help them find what they're looking for. Try to suggest additional merchandise that will help them. Use signs and displays to do the same things.
Use basic telemarketing to improve sales and service.
Get business back from former customers.
A satisfied customer will tell five people about you. A dissatisfied customer will tell ten. Think about it.
It takes $10 of new business to replace $1 of lost business, according to Tom Peters.
"The future is no better place to place your better days."
Buy a van or even some other inexpensive vehicle. Custom paint it with your logo or store sign and bright (but appropriate) colors. Use this free billboard for errands and keep it parked where potential new customers will see it.
Never say "Never" to customers. If you don't give refunds, offer a replacement or a gift certificate; maybe even double it.
Don't say you don't know. Check on the answer and call back promptly.
Turn demands into directions. Instead of "You will have to...," try "Next time this happens, do this...."
Don't accept compromises in performance. Your job is to enforce company standards.
Build a "team" of loyal customers. It's as important as a team of employees.
"Thousands of details...go into the making of a film.
It is the sum total of these things that either makes a great picture or destroys it."
We say that's just as true for everything that your company does.
Actively communicate with customers via mail, telephone, package or statement inserts, signs and displays as well as through conventional advertising.
Use a Web site (.com, .net and .mobi) to create an instant catalog-on-demand so that customers can buy the same day they need your product.
Plan campaigns to sell product. Schedule paid advertising, news publicity and other promotional tactics so that they're timed to reinforce the work of your sales or telemarketing force.
Plan campaigns to synergize your budget the same way.
Test. Test. Test. Even your best won't be the best forever.
Make your competition work for you. Find out from existing and prospective customers which other stores and services they frequent and what they buy. What do they like about them? Dislike? You can learn ways to serve customers better.
Use publicity in your community—local or international—to show off your image or identity.
A company brochure ought to explain what you do and why it is important to your customers.
"It's time for Expensive to get reacquainted with Valuable."--Ad for Mercury Interactive's Business Technology Optimization software, 2003.
Quality + Dependability + Caring = Loyalty.
Re-draw your organizational chart with the customer on top.
Write a company policy letter that concisely defines your purpose, goals and standards.
Consider creating strategic partnerships with selected suppliers in which you work together toward mutual goals.
Differentiate yourself from similar businesses.
Emphasize your business philosophy so that customers can clearly see the benefits of remaining loyal customers.
"Award" customers at random...just for being there—a free accessory with purchase, tickets to an event, a gift certificate. But, make it an unexpected surprise and they will become high-energy promoters for you.
Customers are willing to pay more for better service.
Tell potential customers why they'll benefit by giving you their business. Customers won't understand your value unless it's explained and shown to them in a way that means something to them.
Personality. Every business has one. Your building, your merchandise displays, your desk, your front counter, and your service attitude all add up to your business personality.
Maintain your business plan like any other asset. Keep track of your mission and regularly review your customer base. Who are your customers now? What do they need? Why will they buy it from you? Be sure your marketing strategy is still working to accomplish your business mission.
Make your business image a sales tool that underscores reliability, value, speed, entertainment, or whatever your biggest customer benefit may be.
Remember that there are connections among all the parts of your business. Your promotional stance affects your pricing. Promotion affects your sales volume. Appearance affects your customer appeal. Sales training affects your customers. Customer attitudes affect your profit.


text:
The Current Monetary Order Is Nearing Its End
We won't have enough ammunition to fight the next crisis, and central bankers can not normalize policies without risking a…
by Claudio Grass via Claudiograss.ch
Interview with Dimitri Speck
Given the massive intervention and monetary manipulation experiment by central banks over the last decade, the amount of distortions created in the market, as well as the record debt accumulation at all levels of the economy, have given rise to considerable risks for investors. For a more detailed understanding of these issues and for his outlook, I turned to Dimitri Speck, a renowned expert in the development of trading systems and in seasonal analysis, whose experience and successful career spans over two decades. Mr. Speck, founder and head analyst of Seasonax, also has valuable insights into the history of the gold market, as illustrated in his book "The Gold Cartel". He therefore has a very unique perspective, forged through his experience developing successful trading strategies, combined with his knowledge and deep understanding of economics and the history of our monetary system.
Claudio Grass (CG): After a decade of aggressively expansionist policies by central banks, it would seem we stand at an impasse. Central bankers cannot normalize their policies without risking a market crash and a toxic debt meltdown, while their current overstretched position means they won't have enough ammunition to fight the next crisis. How do you see this playing out?
Dimitri Speck (DS): In the short term, low interest rates stimulate the economy. In the long run, however, the persistent and aggressive manipulation keeping all interest rates at ultra-low levels since 2008 has led to massive undesirable developments. As the state's interest burden fell, politicians wasted money that could have been used productively somewhere else. In addition, due to this overly accommodative environment, inefficient companies stayed in the market, reducing the resources and employees available to other more promising companies. In theory, the low interest rates could also have been used to repay and reduce debt. In reality, however, they facilitated new borrowing and thus encouraged over-indebtedness. As a result, bubbles developed in the stock and in the real estate markets, which in turn led to further malinvestments.
In a nutshell: The low interest rate policy weakened the real economy and at the same time increased debt. That's the exact opposite effect of what would have been desirable.
Overall, it is typical of the hubris of central bankers who try to plan and control the economy to also try and stimulate it by cutting interest rates. Personally, I even think that it is not the task of the central banks to set interest rates to begin with. However, there is one more tool that remained: the printing press. It will most probably be used heavily and excessively as well.
CG: The Federal Reserve already reversed its plans and announced that there will be no interest rate hikes this year and its intentions to slow down its tightening and end it in September. As it is currently facing increased pressure from President Trump to cut rates and even to resume QE, what is your assessment of this dovish policy direction and its expected impact on the economy?
DS: The effect of interest rate cuts is often overestimated. They do not prevent a bear market in stocks nor do they fend off a recession, as shown in 2000, 2008 and even in the 1930s.
It is about the usual sequence of boom, crash and crisis. Supporters of a solid monetary system, like myself, strongly criticize the credit excesses of the boom phase and want to avoid them, as we clearly see the inevitability of what will come next, as it has time and time again. Nowadays however, most politicians, academics and journalists subscribe to the idea that it is crucial to combat a crisis by printing money afterwards. This idea is naturally more popular than sound and responsible policies, however, in practice it only prolongs the credit excess and increases it, as we can see since the financial crisis of 2008.
Anyone who wants to prevent a deflationary collapse like the one in the 1930s must prevent mass debt defaults. Immediately afterwards, however, the debt levels should be reduced. But, still, it is much better to just avoid the credit excess in the first place.
On a global scale, we are now so heavily indebted that it is unrealistic to hope for any meaningful debt reduction. Instead, resorting to the printing press and strong inflation is a much more likely scenario.
CG: Europe appears to be particularly vulnerable, with a stalled economy and an ailing banking sector, with banks like Deutsche Bank and Italian lenders in serious trouble, as well as incredible amounts of public debt in the bloc. What do you think the implications are for the outlook of the Eurozone?
Europe's main problem is the faulty design of the Euro. It stands too high for Italy and France and too low for Germany. This has already caused damage amounting to some thousand billion euros. However, there are further vulnerabilities and risk factors in the Euro area and those are as diverse as they are deeply entrenched in their respective member-state economies. Overall, the push towards further centralization and the entire idea of trying to forcibly integrate and fuse together economies of different speeds and wildly varying profiles has delivered questionable results and I expect it to continue to weigh down the bloc going forward. Combined with the dangerously high debt levels, I believe Europe's economic outlook is far from reassuring.
Nevertheless, it's not just Europe that is problematic, other regions have their own failures too. Japan is completely overindebted; there is no historical comparison to its current state at all. In China, debt has risen by about one hundred percentage points of GDP in ten years, the fastest increase in a larger economy in peacetime. The US has record levels of public debt and a very high budget deficit. It also carries the weight of the status of the US dollar as the world's reserve currency. Politicians love this status, because it allows them to cheaply borrow money they typically waste, for instance on an oversized military. But the citizens are suffering from this reserve status of the currency. It is overvalued for decades, which has severely damaged the US export industry.
CG: How do you interpret the steady gold accumulation by central banks in recent years, e.g. Russia, China, etc.?
DS: I believe that this was just the beginning. In the end, it will be very tempting for the US to get rid of its debts by devaluing its own currency. Many creditors are abroad, especially central banks. If the non-American central banks notice the loss of the value of their assets, they will buy much more gold. Then the historically unusual and economically fatal situation where central banks hold the bonds of mainly one country will finally come to an end.
This is one of the reasons I have an optimistic view of gold's performance in the months and years to come. Also, given the global economic and political landscape, that is troubling to say the least, gold's appeal is bound to rise and not just among institutional investors.
CG: How about silver's outlook? Do you think that because it has been dormant for so long, many investors tend to overlook its potential?
Silver should rise even more than gold. Its price is historically very low relative to gold. As soon as the precious metal's bull market comes into gear, silver traditionally rises faster. The reason is that the above-ground inventory in relation to consumption/production is larger in the case of gold compared to silver. This slows down the rise in the gold price more, as some gold is sold out of these inventories. Silver, on the other hand, has relatively lower above-ground inventories, so it can rise even more.
CG: You have extensively analyzed the history of manipulation in the gold market, making a compelling case in your book, "The Gold Cartel". Based on your insights, what the relevant effects and implications for investors and is this something they should also bear in mind today?
DS: On August 5th, 1993, some Western central banks had begun to manipulate the price of gold. One of the ways in which this was done back then was physical supply through sales and loans. However, since 2001, this has had no negative impact on the price anymore. Central banks reclaimed the gold they had lent, which ultimately other central banks delivered through sales. The price of gold rose. There is no threat of physical supply in large quantities today as well. The gold suppression through sales and loans is history.
The other way to suppress the price of gold was the selling of futures to demotivate investors. This can still happen at any time. But this method only has a long-term effect if investors have alternative investments. In an environment of low real interest rates, these alternatives are rising stock prices. That was the case after 2011 and a similar effect was seen in the mid-1970s. However, for the foreseeable future, real interest rates will not rise, due to over-indebtedness. And stocks are valued as high as they were in 2000 in terms of market capitalization to GDP, so a long-term rise of the stock market is very unlikely.
For these reasons, the gold price manipulation will no longer work in the long term and thus no investor has to fear it.
CG: Overall, given the truly grim prospects of stock markets and the economy at large, how would you evaluate the importance of physical gold holdings as an insurance in the coming years?
DS: The current monetary order is nearing its end. The elimination of over-indebtedness is inevitable, which will reduce the monetary savings by at least 50%. Naturally, this process will take years, however, in this scenario, the price of gold could increase about tenfold at its peak.
Claudio Grass, Hünenberg See, Switzerland
www.claudiograss.ch
Tags: central banks, Claudio Grass, GDP, Gold, gold cartel, gold market, gold price manipulation, market manipulation, Precious Metals Price Suppression


We've just been hit with our fourth snowstorm. Every weekend, a new front rolls through, burying the hours of shoveling and snowblowing of the seven days past. The first blizzard brought anticipation – it had been an unusually calm winter. The second, irony – another blizzard exactly a week later? With the third came annoyance. And by blizzard number four, we've come to believe that this winter just might never end.


As Khloé Kardashian continues to remain in Cleveland amid allegations that Tristan Thompson cheated on her throughout her pregnancy with newborn daughter True, she has the unwavering support of her loved ones, who are thousands of miles away in Calabasas.
"Khloé's sisters and [momager] Kris are still furious, but things have fizzled a bit because they almost expected this from him," a source tells PEOPLE of the current state of the relationships between the KarJenners and the NBA star.
"Khloé is focusing on the positives. She loves being a new mom. She's raising a beautiful baby girl and focusing on keeping both True and herself healthy, mentally and physically," the source adds.
Despite Khloé's initial plan to return to Los Angeles after giving birth on April 12, an insider previously told PEOPLE that the mother of one has no plans to move back to be closer to sisters Kim and Kourtney Kardashian as well as Kendall and Kylie Jenner.
"She's creating a life for her family in Cleveland," the insider said.
Kim recently addressed the scandal during an appearance on the Ellen DeGeneres Show, though Khloé, who has turned off comments on all Instagram photos of herself and Thompson, has yet to publicly comment on the allegations.
"Poor Khloé. Like, I don't even know how to describe it besides it's just so f—ed up," the KKW Beauty mogul said.
Meanwhile, Thompson has not been in Cleveland with Khloé due to the NBA playoffs.
The father of two — he is also dad to 16-month-old son Prince Oliver from a previous relationship — continues to be in his hometown of Toronto with his team, the Cleveland Cavaliers, as they take on the Raptors in game two of the conference semifinals.
While her sisters remain "furious," Khloé's brother-in-law Kanye West previously expressed a bit of support when he tweeted last week that he was watching Thompson's game, though the athlete did not come off the bench.


text:
WV Store
Mountaineer Sports
Will Grier Brings a New Element to the Mountaineers
It's not just the beginning of a new football season for the West Virginia Mountaineers. It's the beginning of the Will Grier era.
Though Grier has not been in a game since the midway point of the 2015 season, Grier is set to make his Mountaineer debut At FedEx Field on Sunday night against Virginia Tech.
"He's pretty eager to get out there and get back in the swing of things," WVU offensive coordinator Jake Spavital said. "I'm pretty fired up to watch him go out there and do his thing.
"There's a lot of hype on this."
Trending: Dirt on Tom Herman
As a high school senior in North Carolina Grier threw for 14,565 yards. He was named the national high school player of the year by Parade.
As a freshman at Florida, Grier came off the bench in the team opener and led the team to a 6-0 start.
After the 6-0 start, Grier was hammered back down to earth when he received a 12 month suspension for testing positive for PEDs. At a press conference Grier said he took a banned over-the-counter supplement. It happened to contain a substance that is banned by the NCAA.
Would Florida have ever given Grier his starting job back? It's hard to say, but either way Grier transferred to WVU last summer. He spent last season and spring practice with his new team. During the spring game he went 12 for 18.
Count receiver David Sills among those impressed.
"He's got the timing down with the receivers," Mountaineer receiver David Sills said. "He's going to have a great year.
"He puts the ball just where no one else can get it. He really does thread the needle. He sees things pre-snap and post-snap that are changing, … checking into the right play if he's not getting a look he likes — just stuff you would see in a big-time quarterback."
Though Coach Holgorsen has high hopes for Grier, he hasn't lost track of what a ground game means to his team.
"Everybody knows we're going to try to run the ball," Coach Holgorsen said.
Related Topicsfeatured
Sean is a writer and co-owner at MountaineerSports.com
Become a Mountaineer Sports Insider
We Need Writers!
MountaineerSports.com is looking for writers. If you're interested, please email us at developers @...
By Jared Vallorani
WVU Football Does Awesome Tribute to West Virginia Native Dylan Tonkery
Coach Neal Brown has put an emphasis on keeping in-state talent home. Dylan Tonkery...
By Sean Taylor
NCAA Announces Start Date for Men's and Women's College Hoops
Many Mountaineer fans are looking forward to the college basketball season. Don't get me...
Shane Lyons Gives Update on Attendance Policy
Nick Farrell of WBOY caught up with WVU athletic director Shane Lyons prior to...
Mountaineer Defensive Back Receives Highest Grade in the Country
When Mountaineer fans heard a defensive back with the last name "Addae" was coming...
Neal Brown Names Players of the Week
Coach Neal Brown spoke to the media on Monday. During the press conference, he...
WVU Quarterback Will Grier is 'Ready to Go' For Opener
How Much Pressure Will Tony Gibson Put On The Hokies Quarterback?
Copyright © 2021 Mountaineer Sports. All Rights Reserved.
There's a Better Option for WVU Than the Big 12
The Mountaineers have already made their first mistake of the season
# 1 Recruit in West Virginia Calls Out Dana Holgorsen
Holgorsen Continues to Make Waves


This image gallery named as Yellow Gray Brown Living Room might be ideal solution for your decoration. As the author has insert this image into Grey And Brown Living Room post section, would ease you to find the perfect match of you decor desire.
How to Make yellow gray brown living room into Your House?
First you need to use modern fittings along with modern bathtub version. There are a few stores that offer you fittings, taps, living room cupboard, and living room bath with modern day design. The modern-style may save more space because it is manufactured in streamlined mode. In the event you've got small living room, you're able to jump to-use bathtub and also you simply have touse shower into your living room. Second, you may utilize glass to the door. Glass doorway will probably reveal modern look on your living room and at an identical time, your smaller living room can look larger than the measurement.
Not just is there as an area to clean the human body from dirt, a living room need to also be hip in every look and in every corner. Incorporating living room vanity closets are among the methods to enhance the appearance of the living room. Tons of layouts and styles accompany just about every vanity cupboard that wouldbe great for any living room. They range from classic to modern fashions. Definitely these styles might cause every single homeowner to have living room vanity cabinets that they like, especially if they really have a big, wider living room are.
Cupboard is normally utilized for kitchen and living room and has multiple functions that is for storage and decorate the room as well. When the living room is small or large, cabinetry will remain important thing to be installed at living room. Afterward, just how about yellow gray brown living room? It is going to soon be a superior solution for living room storage.
The substances of these doors. We usually do not alter our living room doors daily. Pick the people with good quality which are strong to deal with water and humidity. The frames of this doorway. If you like your living room doors with frames, focus on the frames together with good quality differently they will damage your own doors. The fashions of the door. Pick the type that matches your home's personality although your living rooms are concealed from strangers' visions. Have you been ready to purchase kinds for every one of your living rooms on your home now? It's estimated this article about yellow gray brown living room depot will be able to help you out.
How should we have this sort of cabinet within our living room? We've to find the right and comfortable place to set it inside the living room. Make sure we put together the right affirms made of wood and metal with screws attach the cabinet. Connect the cupboard carefully. Before storing drugs or other things, make sure you wash out the cabinet first. If needed, you may use special stuff such as for instance a mat or paper on the bottom of this cupboard.
A few people think the yellow gray brown living room can be quite risky, specially when they have been huge and can put on a whole lot of stuffs. However, that you don't need to be concerned concerning the builtin living room cupboard. You'll find a few keys to put in the cabinets correctly.


text:
VOA Show 'ZirZameen' Explores Art and Activism
Unconventional artists and activists narrate their own stories on a new VOA program that seeks to connect underground communities in Iran and the rest of the world. The twice-monthly TV and web program called ZirZameen is produced by Voice of America's Persian Service and is available in both English and Farsi editions.
New Law Allows Domestic Use of VOA Reports
Voice of America will soon be able to make its programs available to the U.S. public following passage of new legislation that eliminates the longstanding ban on domestic distribution of VOA programs.
New Shows Build on VOA Music Legacy
Grammy winners and pop legends headline two exciting new VOA television programs that showcase the best of American music, and carry on a Voice of America tradition that is credited with helping popularize jazz around the world.
Audiences in Iran Get New Breakfast Shows on VOA Satellite
Iranians can begin their day with a new, two hour block of live television programming from RFE/RL's Radio Farda and VOA Persian Television, through a groundbreaking collaboration between the two international broadcasters.
Agreement Signed to Put VOA Programs on Sky Net Satellite TV to Burma
Audiences in Burma will soon have a new way to watch Voice of America television programs following a breakthrough agreement signed with Sky Net, a regional direct-to-home satellite provider.
VOA Radio Show Encourages Entrepreneurship in Burundi
A new VOA radio program about entrepreneurship is attracting a lot of interest in the African nation of Burundi, where people see building a business as a path to success in a country with high unemployment.
VOA's Zindagi 360: Reaching a New Demographic in Pakistan
Zindagi 360, a fast-paced lifestyle and entertainment show, is attracting big audiences in Pakistan, where TV viewers are seeing a new side to Voice of America programming.
OMG! Meiyu Host Jessica Beinecke Wins AIB Founders' Award
Jessica Beinecke, host and creator of VOA's online English-Chinese teaching program, OMG! Meiyu, wins the 2012 Association for International Broadcasting, Founders' Award.
VOA Election Coverage in High Demand
Millions around the world followed the U.S. presidential election Tuesday, courtesy of Voice of America's radio and television broadcasts, websites and Twitter feeds. Hundreds of affiliate stations also carried VOA programs.
VOA Provides Election Coverage to Global Audience
Voice of America is providing extensive live coverage of the US election in 43 languages and teaming up with radio and TV affiliate stations around the world to cover the event.
Hurricane Sandy Fails to Stop VOA Broadcasts
VOA stays on the air despite pounding rain and 80 mile an hour winds from Hurricane Sandy, which shut down government offices and public transport in Washington Monday and Tuesday.
VOA's Jessica Beinecke to visit Beijing, Chengdu and Shanghai
"I'm so excited to be visiting China again, and I am especially looking forward to meeting some of the students who have been learning English and dreaming about studying abroad," Jessica says.


text:
Q: Restart a foreach loop in C#? How can I restart a foreach loop in C#??
For example:
Action a;
foreach(Constrain c in Constrains)
{
   if(!c.Allows(a))
   {
      a.Change();
      restart;
   }
}

restart here is like continue or break but it restarts the foreach from the begining
It is like setting the counter of a for loop to 0 again..
Is that possible in C#?
Edit:I want to thank both Mehrdad Afshari and Mahesh Velaga for letting me discover a bug (index=0) in my current implementation, that would not have been discovered otherwise..

A: One way you can do that is using for, as you have already mentioned:

restart here is like continue or break
  but it restarts the foreach from the
  begining It is like setting the counter of a for loop to 0 again

Action a;
for(var index = 0; index < Constratins.Count; index++)
{
   if(!Constraints[index].Allows(a))
   {
      a.Change();
      index = -1; // restart
   }
}

A: Use the good old goto:
restart:
foreach(Constrain c in Constrains)
{
   if(!c.Allows(a))
   {
      a.Change();
      goto restart;
   }
}

If you're diagnosed with gotophobia 100% of the time for some reason (which is not a good thing without a reason), you can try using a flag instead:
bool restart;
do {
   restart = false;
   foreach(Constrain c in Constrains)
   {
      if(!c.Allows(a))
      {
         a.Change();
         restart = true;
         break;
      }
   }
} while (restart);

A: void Main()
{
    IEnumerable<Constrain> cons;
    SomeObject a;

    while(!TryChangeList(cons, a)) { }
}

// the name tryChangeList reveals the intent that the list will be changed
private bool TryChangeList(IEnumerable<Constrain> constrains, SomeObject a)
{
    foreach(var con in constrains)
    {
        if(!c.Allows(a))
        {
            a.Change();
            return false;
        }
    }
    return true;
}

A: Although a very old thread - none of the answers paid due attention to the semantics of that code:

*

*You have a chain of constraints on a

*If a breaks any of them, try another a and push that through the chain.

That is, a.Change() should be separated from the constraint checking loop, also adhering to the CQS principle:
while (!MeetsConstraints(a))
{
    a.Change();
}

bool MeetsConstraints(Thing a)
{
    return Constraints.All(c => c.Allows(a));
}

No goto, no ugly loops, just simple and clean. </self-back-slapping>

A: for (var en = Constrains.GetEnumerator(); en.MoveNext(); )
{
    var c = en.Current;
    if (!c.Allows(a))
    {
        a.Change();
        en = Constrains.GetEnumerator();
    }
}

redpajama_set_name: RedPajamaStackExchange


text:
Palestinians should have the right to demonstrate | The Triangle
Palestinians should have the right to demonstrate
By Ramsha Ahmad
Photograph courtesy of Marcus Yam/Los Angeles Times/TNS
The Trump administration officially opened the U.S. embassy in Jerusalem May 14. The embassy move has been met with resistance by Palestinian civilians, who, just miles away, could be found protesting on the West Bank in response to the decision to recognize Jerusalem as Israel's capital.
For Palestinians, the embassy move from Tel Aviv to Jerusalem comes at a time of commemorating Nakba (the Disaster), when more than 700,000 Palestinian Arabs were exiled and forced from their homes during the 1948 Palestine war. Palestinians are a dispossessed people who have been displaced from land that was once their home, but now exists as illegally occupied settlements. In spite of being separated by a fence, Palestinians demonstrate so that they will one day be free from the military-imposed blockade and live normal lives.
By the afternoon, clashes broke out as protesters tried to move towards the fence surrounding the border. Tires were rolled towards the fence, while many tried to get close. Images of the protests showed civilians being carried out on stretchers and the death toll had climbed to 58, while thousands remained injured. Israeli snipers gunned down Palestinians who had exercised their right to protest. Protesting serves as a means of gaining agency and protecting a "Palestinian" identity from being further negated by a state that has actively sponsored violence. In demonstrating, Palestinians resist the economic instability and degradation of infrastructure that has become the norm. Protesters were met with tear gas and gunfire as they attempted to storm the fence. According to Gaza's Ministry of Health, among those dead was an 8-month-old baby who passed after inhaling fumes from the tear gas used against protesters. Eight of the victims were children.
The Trump administration has blamed Hamas, the militant group, for the violence, and not the Israeli forces. At the forefront of the decades-old conflict, the narrative most clung to is that Hamas officials provoke violence and put civilians at risk. Yet, the narrative of the oppressed civilians is often neglected by Western media. These voices are silenced and often absent from mainstream media.
For Palestinian civilians who have undergone decades of displacement and have endured erasure of their own identity as Palestinians, the demonstrations are a means of resistance against occupation. The embassy move marks land that has been contested between Israel and Palestine and makes peace impossible.
Instead of remaining impartial, the Trump administration showed pro-Israel bias in deciding that the land was Israel's. While the White House solely places the blame of Palestinian deaths on Hamas, it is the Israeli defense forces who have had not been held accountable for the state-sponsored violence directed at Palestinian civilians. The massacre of Palestinians has been met with Israel's impunity. The celebration of the embassy starkly contrasted with the demonstrations which continued, even as Israeli airstrikes persisted. Jared Kushner said, "When there is peace in this region, we will look back upon this day and will remember that the journey to peace started with a strong America recognizing the truth."
This notion of peace is paradoxical. The Trump administration arbitrarily exercised its power in a conflict where Palestinians have no say. In deciding that Jerusalem was Israel's, Trump escalated tensions between Palestine and Israel. With the support of America, Israeli Prime Minister Benjamin Netanyahu has said that Israel reserves the right to defend its sovereignty. But how does a nation with superior technology and military forces characterize dispossessing people of their land, basic resources and national identity as "defense"?
Palestinians have every right to demonstrate and reclaim their identity, as they are a people being threatened by erasure in the global landscape of politics. Civilians should be able to demonstrate without the threat of violence and incarceration. Leaders around the world are complicit in the injustices faced by Palestinian civilians if they fail to condemn the violence by Israeli forces against protesters.


text:
PAM BEIDLE
MEET PAM
Maryland State Senate
Authority: Friends of Pam Beidle, Leonard W. Beidle, Treasurer.
iStock-180694827
Senator Pam Beidle is one of us -- she's an Anne Arundel County mom and grandmother, she owned and operated a small business here for thirty-eight years, went to college at Towson University, and volunteered her time with many community groups and her church.
As our Councilwoman and Delegate, Pam has delivered for us in Anne Arundel County. She is a strong advocate for Anne Arundel public schools, has voted for historic investments in school safety for our children, and successfully fought for funding to build a new athletic facility at Glen Burnie High School and a new field, bleachers, and
concession stand at Meade High School. Delegate Beidle has put in lights at Severn's Danza Park, acquired the funding to build a memorial dedicated to the county's veterans, and delivered millions of dollars in state funding for Anne Arundel County's YWCA domestic violence shelter and the Fort Meade Resiliency Center.
In the Senate, Pam will continue to fight for us while working across the aisle to accomplish things for our community. In the House, Pam had a record of cutting wasteful spending, and working with Republicans and Democrats to increase funding for education and other priorities without raising taxes. While in DC, President Trump and members of Congress cannot figure out how to work together on health care, this past session, Pam worked with Democrats and Governor Hogan, to find a solution to stabilize health care and lower costs for Marylanders. She has fought to stop prescription drug gouging, work with the business community to provide earned sick leave to employees and has fought for women to have affordable access to health care.
With her record, Pam has served us as a different kind of leader who actually listens to the people and tries to solve problems in a bipartisan way. If elected to the state Senate, Beidle will continue to advocate for Anne Arundel County and work with people on both sides of the aisle to deliver for us.
During my time as a State Delegate, I have supported legislation to provide Healthcare to all
Marylanders.
I have supported the Medicare waiver which has allowed Maryland to insure 500,000 Marylanders.
Maryland is the only State with the Medicare Waiver, this means every payer pays the same charge for
every stay at every Maryland hospital.
I have supported improvement in healthcare delivery by making medical records digital, healthcare
available for all women, dental care for all children, and controlling the cost of prescription drugs.
I will continue to fight for affordable healthcare for all Marylanders.
I have a strong record of supporting education funding and school construction. As a County
Councilmember representing District One, I voted for the education budget for 8 consecutive years. I
was the leading advocate for a new Hebron-Harman Elementary, helping to move that school up on the
school construction list. I also advocated for the funding for the athletic facility addition and the
classroom addition for North County High School and funding for the Ferndale Early Education Center.
As Chair of the Anne Arundel County Delegation, I worked in a bipartisan way to make changes to the
School Board Nominating Commission to create a more inclusive School Board Appointment
Commission. In 2017, I was the lead sponsor for the bill that created an Elected School Board for Anne
Arundel County, the last County in the State to have an elected school board.
In my time in the Legislature I have supported the increases in education funding, the State budget is at
an all time high for funding education and school construction. Anne Arundel County has a long list of
schools that need to be renovated or have new schools constructed. While Anne Arundel is building
newer, smaller high schools, I have a great deal of concern for the condition of our existing schools. I
will continue to advocate for schools that are safe for our students.
In our 2018 Legislative Session we passed a great deal of bipartisan legislation to fund education. The
most important was funding for "safe schools." We also passed two bills for Community College
scholarships including one to allow the Delegate and Senatorial Scholarships to pay for certain certificate
and licensure credits.
I supported the Constitutional Amendment to "add" the Casino Revenues to the education budget, not
using that funding to replace funds. This Constitutional Amendment needs your vote in the General
Election, please look for it on your ballot. The Maryland Constitution requires that education is fully
funded and the budget is balanced.
As the Senator representing District 32, I will support the recommendations of the Commission on
Innovation and Excellence in Education, also known as the Kirwan Commission. I will continue to be a
strong supporter for education funding.
I have served for three terms on the Environment and Transportation Committee. I am a strong
supporter of improving the quality of one of Maryland's greatest treasures, the Chesapeake Bay, for
recreation, jobs and all of its economic benefits.
Legislation we have passed has improved the quality of the bay. This includes legislation for: oyster
restoration, installation of new or upgraded septic systems in the critical area, upgrading sewer plants,
limiting agricultural runoff by providing funding for cover crops, and our continuing work to reduce
sediment and pollutants trapped by the Conowingo Dam.
The 2017 legislation to prohibit fracking in Maryland, made Maryland the first state to totally ban
fracking, I was proud to be a co-sponsor. I have also consistently supported renewable energy and the
Clean Energy Job Act. We are protecting our children and the future of clean air by supporting clean
energy now!
I also supported pollinator habitat plans and the Pollinator Protection Act. These provided bees with a
healthy environment and prohibiting the use of pesticides.
The Sierra Club and the League of Conservation Voters continue to endorse me.
I am committed to continuing to protect and improve our environment for current and future
As a member of the Environment and Transportation Committee and Chair of the Motor Vehicle and
Transportation Policy Sub-committee, I have had the opportunity to study and impact Maryland's
transportation network. This Sub-committee is the busiest sub-committee in the House of Delegates.
In 2018, I was the lead sponsor to increase Highway User Revenues to our Counties and Cities. This bill
provides a guaranteed stream of income for road maintenance and repaving of local streets; it is a
redistribution of the Gas Tax.
Also in 2018, I was the sponsor of the "Jobs Bill". This bill will help to provide transportation for the last
mile to and from work sites. It provides Tax Credits for employers who fund transportation projects to
get employees to and from the work site when transit is not available.
The current MAGLEV plan travels through my entire district. The route impacts Linthicum, Harmans,
Severn, Russett and MD City. Linthicum Elementary, Hebron-Harmans Elementary and Lindale Middle
Schools are all impacted by the planned route. I have fought the project when it was first presented in
2005 and will continue to fight the project.
I sponsored legislation to provide law enforcement personnel at two of the Anne Arundel County Light
Rail stops. Although the bill was not successful, Anne Arundel County has agreed to increase patrols at
the stops, and the MTA has increased law enforcement personnel to check the stations and trains. Prior
attempts to close the walk-up stations have been unsuccessful.
Transportation is an important issue in our community that we need to continually address to eliminate
the congestion and improve road conditions.


GSC 2.0 is a complete overhaul of all previous versions. With the help of thousands of loyal fans who have helped with the beta tests, we are proud to be able to offer crystal clear FREE voice services to gamers worldwide!
With GSC, you can pick from anyone of 12 worldwide datacenters to host your own free voice server. Get full rights to create subchannels, kick and ban users, and personalize your voice server. Plus, your settings are always saved - the voice chat room doesn't disappear when you log off!
Ever wonder what your friends are up to? Find them online using GSC integrated game server tracker to see what game they are playing and what server they are on. Joining your friends' game is now only a double click away!
Ever wondered how to find the hardest servers to play on are? Or the most popular? Or where you last played and for for how long? Withour integrated GameTracker browser, you can now search through a global server database in many ways and add favorites to your preferred server list.
Talk or voice your friends, anytime, anywhere! Talk to your friends, keep logs of conversations, and receive messages even when offline. Even when your friends are in the middle of a game, GSC will still work inside most games!
GSC 2.0 is now officially released!
GSC 2.0 is a complete overhaul of the current architecture. Behind the scenes, we have made many improvements to ensure that GSC can exceed expectation in both quality and performance.
Major updates to the voice engine were made to eliminate audio delays and voice "stuttering" effects. Please see Release Notes for details.


Umbrella Liability—also known as Excess Liability Insurance—provides extra protection for catastrophic events. The primary policies are called "underlying" policies and are specifically listed, along with their limits, on the umbrella policy. Typically, the underlying policies are your primary general liability, auto liability and the employer's liability section of your workers comp policy. The umbrella coverage starts to pay when a covered loss exhausts the primary policy's per occurrence limit. Most umbrella policies exclude employment practices liability, professional liability, product recall coverage, workers compensation and coverage for asbestos-related claims, pollution, war and terrorism.


text:
Home » Altcoin » Coinbase accountable for scams and to face public trial, order by U.S court
Coinbase accountable for scams and to face public trial, order by U.S court
04/24/2018 Altcoin Comments Off on Coinbase accountable for scams and to face public trial, order by U.S court
A federal California court has ordered Coinbase to appear in the public court as opposed by the law firm, Silver Miller. The class-action lawsuit against Coinbase's laxity in verifying and reporting the suspicious transactions held by Vernon, the former CEO of Cryptsy.
Vernon is the sole operator of Cryptsy, an exchange platform that converted the digital currency to fiat $8.2 million and invested the money in Coinbase. Coinbase failed to comply with its regulatory norms in verifying Vernon's accountability. Vernon reportedly fled to China in the year 2015 leaving Coinbase responsible for the illicit money laundering.
As described in a mail by the Co-founder of Silver Miller law firm, David C. Silver said that:
"the case is headed towards a public trial despite Coinbase's best attempts to hide it from public view. Silver Miller, along with co-counsel the Wites Law Firm, made an announcement that the Eleventh Circuit Court of Appeals ruled on the 23rd of April that the pending class action on behalf of former Cryptsy customers and account holders belongs in an open courtroom, not hidden in a private arbitration boardroom. The lawsuit alleges that from 2014 to 2016, Coinbase assisted the former CEO, Paul Vernon and operator of since-shuttered cryptocurrency exchange Cryptsy in laundering stolen digital assets valued at the time at $8.2 million a sum now valued at over $100 million."
According to the class action lawsuit, the plaintiffs consists of all Cryptsy account users who had deposited digitalized currencies at Cryptsy and were denied access to their accounts from 22nd May 2014 till date.
The lawsuit affirms the Coinbase aiding in Vernon's case which lacked fiduciary obligations, negligence, and unfair enrichment. Coinbase will have to be accountable for other frauds such as the introduction of BCH in December prior to its release in January.
The company has also claimed the funds that were not delivered to the receiver's end which is considered unlawful. Recently the account holders at Coinbase have complained about the platform breakdowns, wherein the transaction would not occur in time causing a loss of assets.
David Silver, lawyer and co-founder of Silver Miller, one of the most reputed in the crypto-world says:
"I have preached that accountability, transparency, and verification are needed in the crypto exchange space, this ruling brings the plaintiffs one step closer to finding out just what type of Know Your Customer protocols and Anti-Money-Laundering protections Coinbase employed and whether Coinbase complied with state and federal statutes in that regard. Coinbase has delayed and tried to keep discovery hidden from the public long enough. That stops now."
Frank Devoe, a crypto-critic says:
"We want justice and how can we trust a company that has crowned itself at the top of the crypto exchange platforms with plausible mismanagements and illicitness."
Brian, a Twitterati says:
"Just because I find $5 on the footpath and assume to keep it for myself, which is not mine is wrong, it does not matter how much money I got from the streets. According to the law, it's a loss for the individual who dropped the money and being a citizen it's my profound duty to report it.
Previous Post:How to buy Bitcoin Anonymously 2018. Easy ways to buy Bitcoin without ID.
Next Post:How do Cryptocurrencies Impact Foreign Exchange?


https://kaska2016.sites.olt.ubc.ca/files/2017/02/05000-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Lets-go-to-Ross-River.mp3 Aggie: Tū Łī́dlīnī ts'į̄́' dzedū'ā́zī. Nā́dzū'ā́ dege.
Waters-flowing together-to-lets (2) go.-we'll stick gamble-for.
Let's go to stick gambling in Ross River.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05002-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Ill-bring-a-tent.mp3 Aggie Tsę́se łédūstsū́zī́ sį̄́.
Maybe we'll camp at Coffee Lake.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05004-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Where-is-coffee-lake.mp3 Martina: Dáhyigé Coffee Lake gū́līn-ā?
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05005-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Its-close-to-Ross-River.mp3 Aggie: Tū Łī́dlīnī nǎ' Coffee Lake gū́līn lā.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05007-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Junior-has-my-truck.mp3 Aggie: Junior estrucké' gétį̄h lā.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05008-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-He-said-he'll-fill-it-with-gas.mp3 "Gas gūkûstlī́dī́ sį̄́," éhdī.
"Gas-I will fill it-maybe"#20 Ross River Stick Gambling (bers beyond five,-he said.
He said he'll fill it with gas.
Your stuff-you packed up-yes/no question?
https://kaska2016.sites.olt.ubc.ca/files/2017/03/05011-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Yes-I-packed-my-stuff-already.mp3 Ham, kolā esdah sī́sestl'ūn.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05012-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-It's-all-packed-up-on-the-porch.mp3 Aggie: Ah'áné porch kā selā.
I live in Watson Lake.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05016-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Where-is-Watson-Lake.mp3 Q2: Dáhyigé Watson Lake gū́līn-ā?
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05017-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Watson-Lake-is-in-the-Yukon.mp3 A2: Watson Lake Yukon kah gūse'ān.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05018-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Where-is-he-going.mp3 Q3: Dáhyigé ts'į̄́' dāyāl-ā?
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05019-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-He's-going-to-Whitehorse.mp3 A3: Whitehorse ts'į̄́' dāyāl.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05020-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Where-is-your-camp.mp3 Q4: Dáhyigé nekǭ́ą̄ gū́līn-ā?
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05021-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-It-is-right-by-the-lake.mp3 A4: Men gāgáh eskǭ́ą̄ gū́līn.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05022-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Do-you-know-where-the-school-is.mp3 Q5: Dáhyigé school se'ān meyḗndī́h-am?
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05023-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Yes-I-know-where-the-school-is.mp3 A5: Ham, dáhyigé school se'ān meyḗsdī́h lā.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05025-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-Show-me-where-you-live.mp3 Q6: Dáhyigé néndā kḗséndī'.
https://kaska2016.sites.olt.ubc.ca/files/2017/02/05026-kkz-LJ-WL-10-11-16-20-Ross-River-Stick-Gambling-lesson-I'll-draw-you-a-map.mp3 A7: K'ū́k kā nedege gḗgūnūsgídzī́ sį̄́.


A group of 21 Brits staying at the Hotel Victoria – in the Old Town – had an unexpected wake up call on Saturday morning.
The laundry room, located on the top floor caught fire, automatically activating the fire alarm.
The party was among over 400 guests evacuated shortly after 6am and thankfully were on the lower floors of the 19 storey hotel "as the lifts were out of action".
Good Morning, we are the Hotel Victoria. Early on Saturday morning there was been a small fire at the hotel. All alarms and systems of prevention went off according to plan and a controlled evacuation took place.
We consider that the article is dramatising the story by declaring the situation as an inferno, the reality was that although stressful was resolved within an hour and guests were back in their rooms.
With regards to the lifts, in the event of a fire emergency, staircases are used and lifts are deemed out of action, the is normal procedure.
Finally, the fire took place in a storeroom adjacent to the laundry room.
When we stayed at the Royal Hotel a couple of years ago we saw a great deal of smoke coming from this same area and reported it to the Royal Hotel's reception staff. After the receptionist made a couple of 'nonchalant' phone calls to the Victoria, we were assure that there was a small problem in the laundry area which was being attended to. Looks like it got to be a bigger problem!!


text:
Hackers Leak Footage of Iranian Prison
A hacking group has leaked what it claims is surveillance footage shot inside an Iranian prison where political prisoners are typically incarcerated.
Silent videos capturing the dire conditions of life inside Tehran's Evin Prison were shared with the media on Sunday by hacktivist group Tapandegan (Palpitations). Iran International reports that the Tapandegan received the images from a hacking group calling itself Edalat-e Ali (Ali's Justice).
The footage shows guards beating a prisoner and guards and prisoners fighting among themselves. In one video, an emaciated prisoner is shown passing out and falling to the ground before being dragged up some stairs.
What appears to be an attempt by one prisoner to end his own life was captured by the CCTV. The footage shows a man breaking a bathroom mirror and attempting to cut open his arm with one of the shards.
Images in which guards are shown wearing facemasks are believed to date from the COVID-19 pandemic. Much of the videos bear a timestamp from this year or 2020.
Ali's Justice claims to have hacked into the prison's surveillance system a few months ago and stolen hundreds of gigabytes of data. The group said it was exposing the stolen footage now to coincide with the election of Iranian president Ebrahim Raisi.
Some of the footage appears to capture a cyber-attack taking place at the prison. It shows a guard looking on as monitor after monitor in a control room flashes red and then displays the text "cyberattack" along with an image of scales. The message "The Evin prison is a stain on Raisi's black turban and white beard" then appears.
The Associated Press noted that the computer system in use in the control room appeared to be running Windows 7. With patches no longer provided for this operating system by Microsoft, it would be vulnerable to attack.
While Edalat-e Ali appear to be a new hacking group, Tapandegan became notorious in 2018 when they hacked into systems at Mashhad International Airport and posted anti-government messages and images on arrival and departure information screens.
Evin was built in the 1970s and holds around 15,000 people.
US State Department Hit By Cyber-Attack
Poly Network Hacker Returns Remaining Funds


In response to being busted, Google parent Alphabet is set to announce broad privacy measures which include permanently shutting down all consumer functionality of Google+, a move which "effectively puts the final nail in the coffin of a product that was launched in 2011 to challenge Facebook, and is widely seen as one of Google's biggest failures."
The software glitch gave outside developers access to private Google+ profile data between 2015 and March 2018, after Google internal investigators found the problem and fixed it. According to a memo prepared by Google's legal and policy staff and reviewed by the Journal, senior executives worried that disclosing the incident would probably trigger "immediate regulatory interest," while inviting comparisons to Facebook's massive data harvesting scandal.
The planned closure of Google+ is part of a broader review of privacy practices by Google that has determined the company needs tighter controls on several major products, the people said. In an announcement Monday, the company is expected to say it is curtailing the access it gives outside developers to user data on Android smartphones and Gmail, the people said.
The breach promises to give Google an embarrassing black eye right after it promised that it was less susceptible to data breaches like those which have affected Facebook. The news may also complicate Google's attempts to avoid unfavorable regulation in Washington.
Pichai has agreed to testify in front of Congress in the coming weeks.
"Whenever user data may have been affected, we go beyond our legal requirements and apply several criteria focused on our users in determining whether to provide notice," said a Google spokesman in a statement.
The decision not to disclose the vulnerability was based on "whether we could accurately identify the users to inform, whether there was any evidence of misuse, and whether there were any actions a developer or user could take in response," said the spokesman. "None of these thresholds were met here."
Meanwhile, Google admits that while they have no evidence that the user data loophole was abused, they have no way of knowing for sure.
Google's recently formed task force, code named Project Strobe, has conducted a companywide audit of Google's APIs, according to people briefed on the process. The team consists of over 100 engineers, project managers and lawyers, according to the Journal. Google will reportedly clamp down on the data it provides outside developers via APIs - while stopping most outside developers from being able to access to SMS messaging data, call log data and various forms of contact data found on Android phones. Gmail, for example, will only permit a fraction of developers to continue building add-ons for the email service.
Google faced pressure to rein in developer access to Gmail earlier this year, after a Wall Street Journal examination found that developers commonly use free email apps to hook users into giving up access to their inboxes without clearly stating what data they collect. In some cases, employees at these app companies have read people's actual emails to improve their software algorithms.
The Google+ problem was discovered in March of this year by the Project Strobe team - and allowed developers to retrieve the data of users who never intended to share it publicly, according to the memo and two people briefed on the matter. Thanks to a bug in the API code, profile data of users and their friends could be harvested, even if the data was specifically marked nonpublic in Google's privacy settings.
In late march, Google ran tests for two weeks to determine the bug's impact - finding that it affected 496,951 users who could have shared private profile data with a friend, and then had that data accessed by an outside developer. Some of the exposed users included paying users of G suite - Google's array of productivity tools which includes Docs and Drive.
Up to 438 apps were able to access the data, however Google says that after a full audit - none of the developers looked suspicious or had previous privacy complaints against them. That said, the admit to having a limited ability to know if any of them took advantage of the breach.