Late night News:
By Daniel at 16 December, 2009, 12:01 am
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“GRACE data reveal groundwater in these basins is being pumped for irrigation at rates that are not sustainable if current trends continue,” Famiglietti said. “This is leading to declining water tables, water shortages, decreasing crop sizes and continued land subsidence. The findings have major implications for the U.S. economy, as California’s Central Valley is home to one-sixth of all U.S. irrigated land and the state leads the nation in agricultural production and exports.”
“The Milwaukee School Board has spent 20 years ignoring a “fiscal time bomb” in the form of generous and unfunded health insurance benefits for retired MPS teachers and staff that will cost the district $5 billion by 2016, according to a new report by the Wisconsin Policy Research Institute.”
“UNITED STATES – A US pension fund has filed a lawsuit against investment banking giant Goldman Sachs which could act as a test case for investors concerning bonus payments and remuneration to staff.
The Security Police and Fire Professionals of America Retirement Fund is suing Goldman Sachs through the New York Supreme Court for alleged excessive bonus packages as pension fund officials believe the recent $22bn in payouts was in fact public money derived from the US TARP bailout fund.”
“Newton said an alarming trend has been emerging over the past 10 years. The state has gone from more than fully funding its retirement systems to funding it at about 75 percent of its liability. And he said actuaries predict that funding could fall to 50 percent of its liability in the next five to seven years. The trend has emerged at the same time that the state has been increasing the money spent on these benefits.”
“Dec. 15 (Bloomberg) — The Federal Deposit Insurance Corp., overseeing the dissolution of failed banks at the fastest pace in 17 years, today will vote on boosting its 2010 budget 56 percent to $4 billion to manage further shutdowns.
The total budget would increase from $2.6 billion and the budget for handling bank failures would double to $2.5 billion from $1.3 billion this year, according to an agency memo released today before a board meeting in Washington. The agency plans to boost staff to 8,653 next year from 7,010. ”
“International demand for long-term U.S. financial assets rose less than economists projected in October as investors abroad sold agency and corporate debt, a Treasury Department report showed.
Net buying of long-term equities, notes and bonds totaled $20.7 billion for the month, compared with net purchases of $40.7 billion in September, the Treasury said in Washington. Including short-term securities such as stock swaps, foreigners sold a net $13.9 billion in October, compared with net buying of $127.6 billion the previous month. ”
“Foreign purchases of Treasury notes and bonds were $38.9 billion in October compared with purchases of $44.7 billion in September. ”
“NEW YORK (Reuters) - Most U.S. credit card companies reported charge-offs rose in November after two months of declines in a sign that consumers remain under stress, sending shares down industrywide.”
………………………….So, the Fed is meeting again to decide about their money printing and on interest rates this week.
- saxplayer00o1
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