Monthly Archives: October 2009

Feds Closes 9 Bank Subsidaries of Chicago’s FBOP Corp.

On Friday, the Federal Deposit Insurance Corporation closed Oak Park,Ill based FBOP Corporation. FBOP had nine regional banks in California, Arizona,Texas and Illinois. The closure of FBOP was the fourth largest bank to fail to this year.

Minneapolis based US Bancorp acquired FPOB subsidiaries:

California National Bank with 68 branches based in Los Angeles.

Pacific National Bank  with 17 branches based in San Francisco.

Park National Bank with 30 branches  based in Chicago.

San Diego National Bank with 28 branches based in San Diego.

FBOP own some smaller banks in Texas and Arizona with one or two branches including: Bank USA based in Phoenix,AZ;  Citizens National Bank of Teague, TX; Madisonville State Bank , Madisonville, TX,  North Houston Bank based in Houston,TX; and Community Bank of Lemont, Lemont,Ill.

These banks re-opened as branches of US Bank on Saturday.

Los Angeles Times

FBOP Corporation

Wikipedia

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Chicago Police and Fire Maybe Furloughed

Police and Firefighter in Chicago are wondering are the going to be next on the chopping block as Mayor Richard M. Daley  is considering placing the city’s first responders on furloughs.

A representative of the Mayor’s office says the budget office is negotiations with fire and police unions to accept offer.

It will the first time in the city’s history that fire and police is will not able to work.

Some the member of the Chicago City Council was not please with budget office place the first responders on furlough.

Updated 10:38 AM CDT, Thu, Oct 29, 2009

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NBC Chicago

One of the more controversial pieces of Mayor Daley’s 2010 budget is the requirement for all city workers to take 24 unpaid furlough days.

The only city workers who have been spared from what amounts to an entire month off without pay are the city’s police and firefighters. But that could change.

A representative for the city budget office says the city is in negotiations with police and fire unions to accept furlough days.

It would mark the first time in Chicago that police and firefighters were forced to go without work.

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Sassy or Trashy: Bikinis

Sassy or Trashy: Bikinis

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Sassy or Trashy: Bikinis

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Celebrity Twitpics

Celebrity Twitpics

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Celebrity Twitpics

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2010’s Dreary, Dismal, No-Good Budget in Photos

2010's Dreary, Dismal, No-Good Budget in Photos

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2010’s Dreary, Dismal, No-Good Budget in Photos

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The idea has caught the attention of more than a few city aldermen.

“I’m getting calls from residents in my ward who work for the city and can’t pay their mortgage,” Alderman Ray Suarez said.  “Why can’t police and fire also join in on the furlough days?”

“We have stayed away from police and fire all of these years,”  Alderman Ed Smith  said. “But we are in a position now where, I believe, that everybody should put in some skin in this game.”

What effect on the safety and security of residents of Chicago remains to be seen.

Chicago is joining other localities  in furlough government employees Milwaukee, Baltimore, Cincinnati and Los Angeles are furloughing employees.

WMAQ-TV/HD “NBC 5 News”

The Recession is Almost Over.

The US government once said two consecutive quarters of economic growth ended a recession. A new report found that we’re half way there. The report from the US Commerce Department found economic output grew 3.5% for the third quarter. The third quarter that runs form July to September found the nation strongest growth in two years. The report beat expectation which forecast the US economy to grow by 3.3 %.

The White House attributed the gains to the stimulus brought out the nation national slump. The worst recession since 1945.

The news sent the stock market soaring on the news. The Dow Jones Industrial Average closes 199.89  points at 9,962.58. NASDAQ closed up 37.94 to 2,097.55. The S&P Index was unchanged.

“The economy has emerged with gusto from the deepest recession since World War Two,” said Harm Bandholz, economist at UniCredit Markets and Investment Banking in New York. “The short-term prospects for the economy remain good.”

However some economists say that without the Federal Governments Cash for Clunkers car program economic growth would be 1.9% growth.

Yahoo Finance.

Stimulus Jobs were Overstated.

White House has overstated the number of jobs saved or created  from the $787 Billion Stimulus package are in  the thousands . The White House will correct it later reports to Congress.

The White House first review of the jobs claimed by the stimulus was overstated by 5000. According to the AP review of  the report.

Here are some examples :

  • A company working with the Federal Communications Commission reported that stimulus  money paid for 4231 jobs, when about 1000 jobs ere created.
  • A Georgia Community College reported creating 280 jobs with recovery money, bu none was created from the Stimulus spending
  • A Florida child care center said its stimulus money saved 129 jobs but used the money on raises for existing employees.

The AP found no evidence of the White House manipulated with the numbers in the report. However,  the Fed used the numbers to show that the stimulus is working.

Ed De Seve,  an Obama adviser on the stimulus jobs program says the administation is working with companies,  organizations and local and state government on the accounting problems.

“If there’s an error that was made, let’s get it fixed,” DeSeve said.

AP via My Way News

Attack on a Los Angeles Synagogue Injured Two Men

Two men were injured today by an gunman during morning prayers at syanagogue in North Hollywood a section of Los Angeles in the city’s San Fernando Valley. The incident placed Southern California Jewish institutions on alert.

A motive was not  given by Los Angeles Police Department.  It is believed the the attack was by a lone shooter.

“We certainly recognize the location and we’re sensitive to that,” Deputy Police Chief Michel Moore said. “But we do not know that this was a hate crime at all.”

The two men in their 40’s  are members of Adat Yeshurun Valley Sephardic Orthodox synagogue. The men were shot both in the legs.  The men had just arrived around 6:30 A.M. for morning prayers when the attack occurred.

The two men are in stable condition in a LA area hospital. They are expected fully recover soon.

The police described the alleged assailant as black male wearing a hooded sweatshirt. LAPD was had detained a person who filled the description he was released later.

The FBI joined in the search.

“We are being vigilant for any follow-ups that may occur,” Moore said.

The police  is being investigated as a hate crime.  However, Los Angeles Mayor Antonio Villaraigosa cautioned the public from overreacting.

“Until they have concluded their investigation, none of us, none of us should presume or speculate more about this crime other than it was a random act of violence,” Villaraigosa said.

A student of the  synagogue school 13 year old  Shayan Yaghoubi, was heading to school when he and his parent was turned away for their safety.

“The cops told us we can’t go,” he said. “I feel very bad because this is my favorite school … I have a lot of friends over there. I hope everyone is OK. There’s never been a problem with fighting.”

A local resident Micheal Bloom 30, says the area has a history of Antisemitism.

“This has been going on for years. Everything from “death to Israel” to “dirty Jew,'” he said. “There are gangs in the area. It’s not the safest neighborhood.”

But Sholomo Yaghobi, 18 says the neighborhood is “calm, relatively.”

His brother who attends the schools is concerned.

“I’m upset if something would have happened to my brother, who would answer to that?” he said.

A spokesperson from the Simon Wiesenthal Center a Jewish Civil Rights  organization told FOX 11 News.

“When an attack actually takes place in the perimeter of a house of worship, it’s a source of deep concern,” Rabbi Abraham Cooper of the Simon Wiesenthal Center told KTTV. “Look, we don’t know whether this is a lone gunman, it could be drugs, who knows. But the fact of the matter is there were no words exchanged, violence was used.”

Rabi Cooper analyzed timing of the attack.

“If it’s someone who had been watching the community they would know that every weekday morning somewhere between 10 and 25 or 30 men are going to be coming to the early morning service.”

This comes 10 years from the attack on the Jewish Community Center by White Supremacist Bufford Furrow in Northridge section of LA.  Furrow shot and wounded 3 kids, a teen and adult.  Furrow then proceeded to kill a Filipino Mail Man.  He is serving life in prison with out the possibility of parole.

Breitbart.com

Stabbing and Shooting at a Medical Office Building in Boston

This afternoon a patient of Boston psychiatrist was stabbed on Tuesday wounding the doctor. The patient was then was killed by an off duty security guard at Massachusetts General  Psychiatric Center Bipolar Clinic and Research Program.

The victim is identified as Dr. Astrid Desrosiers of Belmont, MA; she was attacked by her patient identified as Jay Carciero, 37, of Reading,MA. The attack happened around 2 P.M.

“While being seen by a physician, (the patient) attacked the physician with a knife and stabbed her. During the course of the incident, an off-duty security officer who was armed interceded,” Boston Police Commissioner Ed Davis said.

An off duty security guard told Carciero to drop the weapon.  Caricero did not heed the warning. The security guard shot and killed the assailant.

“Certainly heroic. We are happy he was here,” hospital spokeswoman Bonnie Michaelman said.

Witnesses saw the Dr. Desrosiers taken by gurney out of the building. Arthur Frigault and his wife Karen Heicox were on the 6th floor of the building.

“One (victim) was wheeled out here, and one came out of the foyer. There was a woman and she was all bloody. She was all covered up,” Frigault said.

Desrosiers was taken to Massachusetts General Hospital with stab wounds in her chest and abdomen. She is in stable condition.

The attacker motives were not known at this time.

WCVB-TV/ HD “News Center 5” has the rest of the story.

Senator Lieberman to Senate Majority Leader: I’ll Block a Vote on Your Heath Care Reform Plan

Senate Majority Leader Harry Reid lost a vote that he had counted on; Senator Joe Lieberman(I-Ct) will block the vote on the Senate Finance Committee health care bill. Lieberman will opposed the bill because the government health care bill with an  option for state to not join the program.

“We’re trying to do too much at once,” Lieberman said. “To put this government-created insurance company on top of everything else is just asking for trouble for the taxpayers, for the premium payers and for the national debt. I don’t think we need it now.”

White House Press Secretary Robert Gibbs  was questioned about Sen. Lieberman decision to opposed the bill. “I haven’t seen the report from Sen. Lieberman or why he’s saying what he’s saying. I think Democrats and Republicans alike will be held accountable by their constituents who want to see health care reform enacted this year.”

Lieberman is against government health care reform including the option of opt-out due to its cost.

“Even with an opt-out because it still creates a whole new government entitlement program for which taxpayers will be on the line,” Lieberman said.

Lieberman says that he will vote the bill out of committee to go the Senate Floor but he will vote against the bill when the full senate meets later this year.

“I’ve told Sen. Reid that if the bill stays as it is now I will vote against cloture,” he said.

“I can’t see a way in which I could vote for cloture on any bill that contained a creation of a government-operated-run insurance company,” Lieberman added. “It’s just asking for trouble – in the end, the taxpayers are going to pay and probably all people who have health insurance are going to see their premiums go up because there’s going to be cost shifting as there has been for Medicare and Medicaid.

Senator Reid reaction was subdued

“I don’t have anyone that I have worked harder with, have more respect for in the Senate than Joe Lieberman,” he said Tuesday afternoon. “ As you know, he’s my friend. There are a lot of senators, Democrat and Republicans, who don’t like part of what’s in this bill that we sent over to CBO. We’re going to see what the final product is. We’re not there yet. Sen. Lieberman will let us get on [to begin debating] the bill, and he’ll be involved in the amendment process.

Without Lieberman  the Senate is short of the 60 votes to block a filibusterer.

The Politico