Saturday, May 11, 2013

GOP boycotts health care advisory board

House Speaker John Boehner of Ohio, departs a meeting with the news media at the U.S. Capitol in Washington, Thursday, May 9, 2013. (AP Photo/Cliff Owen)

House Speaker John Boehner of Ohio, departs a meeting with the news media at the U.S. Capitol in Washington, Thursday, May 9, 2013. (AP Photo/Cliff Owen)

(AP) ? House and Senate Republican leaders told President Barack Obama Thursday that they will refuse to nominate candidates to serve on an advisory board that is to play a role in holding down Medicare costs under the new health care act.

House Speaker John Boehner, who joined Senate Republican leader Mitch McConnell in boycotting the Independent Payment Advisory Board, also said that the House next week will vote again to repeal the health care act. According to a Democratic count, the House has tried some 36 times to repeal or defund all or part of Obama's landmark health care overhaul since it became law in 2010.

The 15-member advisory board, known as IPAB, would have the power to force payment cuts on insurers, drug companies and other service providers if Medicare costs rise beyond certain levels.

The health care law explicitly forbids the board from rationing care, shifting costs to seniors or cutting their benefits, but Republicans have insisted that it will be a vehicle to deny care to seniors. Former GOP vice presidential candidate Sarah Palin referred to "death panels" that would allow the government to withhold life-saving care from the elderly while campaigning in 2008.

While Boehner and McConnell did not go that far, they said in their letter to Obama that reduced payments "will force providers to stop seeing Medicare patients" and "this will lead to access problems, waiting lists and denied care for seniors."

Boehner, at a news conference Thursday, said this "is a board with 15 unelected, unaccountable individuals who have the authority to deny seniors access to care. The American people don't want the federal government making decisions that doctors and patients should be making."

The members of the board, to consist of people nominated by both parties, would be subject to Senate confirmation. Economists have predicted that the board's services might not be needed in the near future because Medicare cost increases appear to be manageable.

White House spokesman Jay Carney, responding to reporter questions about the IPAB boycott, saidliz that "the fact that Republicans have continued to push for the repeal of the Affordable Care Act I believe demonstrates how out of touch they are with the American people, who are tired of efforts by Republicans to refight the political battles of the past."

Asked why the House was voting a 37th time to repeal all or part of what Republicans call "Obamacare," even though GOP leaders know the Democratic-controlled Senate will again ignore the vote, Boehner said there were about 70 new members of the House this year. "Frankly they have been asking for an opportunity to vote on it, and we are going to give it to them."

He said he supports total repeal of the law rather than efforts to amend it as it goes into effect over the next year. "I don't believe there is a way to fix this and make it acceptable to the American people."

Republicans say there have been only two previous votes to eliminate the health care law in its entirety. They say there have been more than 30 votes to partially repeal or defund the law, and several have been signed into law, including one eliminating an unpopular tax-filing requirement that would have affected millions of businesses.

___

Follow Jim Abrams on Twitter: https://twitter.com/jimabrams3.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-05-09-Health%20Care-Republicans/id-45bd18122f0642baac907d852848c0a9

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Goldman cuts investment fund pledges in half since Dodd-Frank-filings

By Lauren Tara LaCapra

NEW YORK (Reuters) - Goldman Sachs Group Inc has slashed its capital pledges to investment funds by nearly half since the Volcker rule was signed into law in 2010, as it prepares its principal investment business for restrictions on investing its own money, according to regulatory filings.

The Wall Street bank has reduced future commitments to hedge funds and funds that invest in private equity, credit and real estate, by $5.8 billion since June 2010, the last period before the Volcker rule was included in the Dodd-Frank financial reform act. That represents a reduction of 48 percent, according to data in filings with the U.S. Securities and Exchange Commission.

The Volcker rule - which has not yet been finalized or implemented - will prevent banks from investing more than 3 percent of Tier 1 capital in hedge funds or private equity funds, or from contributing more than 3 percent of capital from those funds.

Goldman's existing hedge fund and private-equity fund holdings represented 14 percent of its Tier 1 capital as of March 31, according to its most recent filing on Thursday. Including future private-equity fund commitments, that ratio goes up to 17 percent.

It is not clear how the Volcker rule will treat credit funds or real-estate funds, or how much time banks will get to come into compliance with the law. Regulators are expected to release a final rule by the end of this year, after reviewing hundreds of letters from industry groups and the public about a proposal they released in October 2011.

Goldman has been actively reducing some fund interests with an eye toward Volcker compliance. For instance, the bank said it has redeemed $1.32 billion worth of hedge fund interests since March 2012, including $260 million in the first quarter. It has also been structuring investments in different ways to avoid breaching the rule.

While Goldman can reduce most hedge fund interest by up to 25 percent each quarter, its other funds have longer investment horizons. Goldman expects all the assets in its existing funds to be liquidated over the next seven years.

Overall, Goldman had $15.6 billion worth of investments in hedge funds, and funds that invest in credit, private equity and real estate as of March 31. The bank had pledged an additional $6.2 billion in future commitments to those funds.

That compares with $15.4 billion worth of investments and $12 billion in unfunded commitments as of June 30, 2010.

Goldman's existing fund assets have risen since the passage of Dodd-Frank only because of big gains in the value of its real-estate holdings.

Those funds' investments have ranged from Seattle office buildings to Caribbean hotels. Some suffered stinging losses during the financial crisis as properties bought at the top of the real estate bubble lost value. But since mid-2010, those real-estate funds have more than doubled in value, booking $1.1 billion in gains. Goldman has reduced future commitments to real-estate funds by $1.5 billion over that time.

(Reporting By Lauren Tara LaCapra; editing by Gunna Dickson)

Source: http://news.yahoo.com/goldman-cuts-investment-fund-pledges-half-since-dodd-172120374.html

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Cardinal skipping BC ceremony over abortion issue

BOSTON (AP) ? Boston Cardinal Sean O'Malley said Friday that he won't attend Boston College's graduation because the Jesuit school's commencement speaker, Irish Prime Minister Enda Kenny, supports legislation to permit abortion.

The bill allows abortion if a doctor authorizes it to save a women's life. Opponents say the bill would lead to widespread abortion by also allowing it if a woman threatens suicide.

In a statement Friday, O'Malley said abortion is "a crime against humanity" and the U.S. Conference of Catholic Bishops has asked Catholic institutions not to honor officials who promote it. Kenny is set to receive an honorary degree from BC at the May 20 commencement.

O'Malley said that since Boston College hasn't withdrawn its invitation, and Kenny hasn't declined it, "I shall not attend the graduation."

"It is my ardent hope that Boston College will work to redress the confusion, disappointment and harm caused by not adhering to the bishops' directives," he said.

Boston College spokesman Jack Dunn said the school respects O'Malley and regrets he won't attend graduation. "However, we look forward to our commencement and to Prime Minister Kenny's remarks," he said in a statement.

Dunn said Kenny was invited to BC because of his country's historically close relationship with the college and that the school "supports the church's commitment to the life of the unborn."

Kenny has said the bill affirms, rather than weakens, Ireland's general prohibition against abortion.

"Our aim is to protect the lives of women and their unborn babies by clarifying the circumstances in which doctors can intervene where a woman's life is at risk," he said in a May 1 speech.

An email requesting comment was sent to Kenny's office in Dublin on Friday and a voicemail requesting comment was left with an Irish Consulate-General in the U.S. Neither was immediately returned.

Ireland has the toughest abortion restrictions in Europe under an 1861 law that makes it a crime punishable by life in prison.

In 1992, its Supreme Court ruled abortion should be legal only if doctors determine it's needed to save the woman's life. But voters rejected two referendums, in 1992 and 2002, to allow abortion to stop a physical threat to a woman's life, not including suicide.

The latest bill is being debated following last year's death of Savita Halappanavar, who was 17 weeks pregnant when she was hospitalized at the start of a protracted miscarriage. She died of massive organ failure after doctors refused her request for an abortion.

The bill permits a single doctor to authorize an abortion if the woman's life is in immediate danger, requires two doctors' approval if a pregnancy poses a potentially lethal risk and mandates three doctors' approval if the woman is threatening suicide.

O'Malley said the Irish bishops have concluded the bill "represents a dramatic and morally unacceptable change to Irish law."

Last year, another Catholic college in Massachusetts was involved in a similar controversy after the Bishop of Worcester (Mass.) pressured Anna Maria College in Paxton to rescind an invitation to U.S. Sen. Edward Kennedy's widow, Victoria Reggie Kennedy, to deliver its commencement address. Bishop Robert McManus objected to Kennedy's public support for abortion rights and gay marriage.

Kennedy later accepted the Boston College School of Law's invitation to give the keynote address at commencement.

Source: http://news.yahoo.com/cardinal-skipping-bc-ceremony-over-abortion-issue-220746723.html

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Demi Lovato on Hair Changes: I'm Bipolar!

Source: http://www.thehollywoodgossip.com/2013/05/demi-lovato-on-hair-changes-im-bipolar/

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GOP ready to push Benghazi case into 2014, beyond

FILE - This June 7, 2012 file photo shows U.S. Ambassador to the U.N. Susan Rice listening during a news conference at the UN. Senior State Department officials pressed for changes in the talking points that U.N. Ambassador Susan Rice used after the deadly attack on the U.S. diplomatic mission in Libya last September, expressing concerns that Congress might criticize the Obama administration for ignoring warnings of a growing threat in Benghazi. (AP Photo/Bebeto Matthews)

FILE - This June 7, 2012 file photo shows U.S. Ambassador to the U.N. Susan Rice listening during a news conference at the UN. Senior State Department officials pressed for changes in the talking points that U.N. Ambassador Susan Rice used after the deadly attack on the U.S. diplomatic mission in Libya last September, expressing concerns that Congress might criticize the Obama administration for ignoring warnings of a growing threat in Benghazi. (AP Photo/Bebeto Matthews)

FILE - In this Sept. 14, 2012 file photo, Libyan military guards check one of the U.S. Consulate's burnt out buildings during a visit by Libyan President Mohammed el-Megarif, not shown, to the U.S. Consulate to express sympathy for the death of the American ambassador, Chris Stevens and his colleagues in the deadly attack on the Consulate in Benghazi, Libya. Senior State Department officials pressed for changes in the talking points that U.N. Ambassador Susan Rice used after the deadly attack on the U.S. diplomatic mission in Libya last September, expressing concerns that Congress might criticize the Obama administration for ignoring warnings of a growing threat in Benghazi. (AP Photo/Mohammad Hannon)

(AP) ? Steady drips of information about a horrific night in Libya are fueling Republican arguments and ads designed to fire up the conservative base and undercut the Democrats' early favorite for president in 2016.

Democratic and Republican strategists sharply disagree on the issue's power to influence elections next year and beyond. But after eight months of trying, Democrats are still struggling to move past last September's terrorist attack on the U.S. diplomatic compound in Benghazi, which killed ambassador Chris Stevens and three other Americans.

Democrats insist that an independent inquiry, the dismissal of several State Department officials, and nine congressional hearings leave little new to say on the matter. But Friday turned up the sort of nuggets that feed conservative activists' belief that a major scandal may still be at hand.

Newly revealed communications show that senior State Department officials pressed for changes in the talking points that U.N. Ambassador Susan Rice used a few days after the Benghazi attacks. These senior officials expressed concerns that Congress might criticize the Obama administration for ignoring warnings of a growing threat in Libya.

The White House has insisted that it made only stylistic changes to the intelligence agency talking points, in which Rice suggested that spontaneous protests over an anti-Islamic video set off the deadly attack. The new details suggest a greater degree of political sensitivity and involvement by the White House and State Department.

Rice and others eventually acknowledged that the Benghazi assault on Sept. 11, 2012, was a premeditated terrorist attack. Republicans say her Sept. 16 televised remarks were just the start of administration efforts to mislead Americans about what happened in Libya.

The Benghazi violence was heavily politicized from the start, occurring less than two months before President Barack Obama's re-election. Moreover, the secretary of state at the time was Hillary Rodham Clinton. The former senator and first lady infuriates many conservatives and ranks high in speculation about the Democrats' 2016 presidential nominee.

Friday brought another round of conservative broadsides against Clinton, Obama and the administration's handling of the Benghazi matter. Sen. Rand Paul of Kentucky, a possible Republican presidential contender, wrote an opinion piece in The Washington Times restating his view that Obama should have fired Clinton.

Campaigning later in Iowa, Paul said he thinks the Benghazi affair "precludes Hillary Clinton from ever holding office."

The conservative group American Crossroads released a 90-second video asking if Clinton was "part of a cover-up." The video, like emails and letters from several other groups, asked for political donations.

The Benghazi tragedy hands Republicans a host of political opportunities, although none without complications. It may be difficult for average voters to sift through the chronology, assess blame, or even follow the logic of GOP arguments.

For instance, claims that Clinton and others ignored calls for greater diplomatic security in Libya might be linked to the four American deaths. But accusations about the post-attack talking points ? which sometimes seem to dominate the current debate ? have nothing to do with possibly preventing the deaths, thus robbing them of that moral heft.

Democrats note that a major independent inquiry into Benghazi, issued in December, found that the State Department badly mishandled security needs in Libya. But it blamed officials no higher than the assistant secretary of state level.

Republican strategist Kyle Downey said Benghazi already exposes a trove of Democratic vulnerabilities, which might grow as inquiries continue. He said Republicans should use the findings to challenge the competence, truthfulness and judgment of Clinton, Obama and other administration officials. Republicans, Downey said, should let the politics play out in terms of which charges gain the most traction.

Some strategists say the Benghazi narrative may prove more valuable for congressional Republicans in next year's elections than in 2016, which is far off. House Republicans, in particular, can seize on Benghazi to motivate their base and donors, and to fend off possible primary challenges from the right.

Democrats say Republicans are nakedly exploiting the Benghazi deaths, and voters won't like it.

"Republicans are a desperate party right now, trying to do whatever they can to dirty up the president to make some gains in 2014, and to dirty up Secretary Clinton because they're terrified she'll walk into the White House," said Democratic consultant Doug Thornell. "This is an attempt to keep their base together and motivated" after Obama's victories in 2008 and 2012.

Thornell predicted Benghazi will prove no more useful as a political "scandal" than did the highly criticized "Fast and Furious" gun-tracking program and the federally subsidized but ultimately doomed Solyndra energy company.

White House press secretary Jay Carney has spent hours trying to dismiss GOP accusations, including those that Obama sought to hide the fact that Islamic terrorists were behind the Benghazi attack. "The whole effort here by Republicans to find some hidden mystery comes to nothing because the president called it an act of terror," Carney told reporters Friday.

Benghazi may remain a white-hot topic in many conservative regions and talk shows for some time. At Wednesday's hearing before the House Oversight Committee, Rep. Cynthia Lummis, R-Wyo., told relatives of the four Americans killed in Benghazi that her constituents "think about you all the time."

___

Follow Charles Babington on Twitter: https://twitter.com/cbabington

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-05-11-US-Benghazi-Politics/id-d868e90aeca949d99b3bf051ddad01ac

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Friday, May 10, 2013

Cyberthieves yank $45 million in sophisticated ATM hack, make Ocean's Eleven look trivial

Cyberthieves yank $45 million in sophisticated ATM hack, makes Ocean's 11 look trivial

It has the makings of a film -- but the fallout from one of the world's most sophisticated ATM heists is very real. The New York Times is reporting that a massive team of criminals worked in concert in order to grab some $45 million in a matter of hours over the course of two operations. The sheer scope of the project is hard to wrap one's mind around, involving trained personnel positioned in over two dozen countries.

Earlier today, federal prosecutors in Brooklyn "unsealed an indictment charging eight members of the New York crew, offering a glimpse into what the authorities said was one of the most sophisticated and effective cybercrime attacks ever uncovered." In essence, the hackers were able to infiltrate various credit card processing companies and raise withdrawal limits on prepaid accounts -- from there, cashing crews hit thousands of ATMs, socking away millions in the process. Hit up the source link for the full read; it's a wild one, for sure.

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Source: The New York Times

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/ctySg3RC7co/

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90% Beyond The Hills

All Critics (79) | Top Critics (30) | Fresh (71) | Rotten (8)

The final shot, with windshield wipers struggling to clean away a torrent of muddy water, suggests that no human agency is great enough to handle this world's misery.

"Beyond the Hills" seethes with astonishment and rage at a broken society marooned between the 21st century and the 16th.

It is a haunting movie, dealing with superstitions, possession, even exorcism, one in which Mungiu poses no easy answers, because there are none to be found.

If you long for the bleak intelligence of an Ingmar Bergman film, where humankind is deeply flawed and God is indifferently silent and the landscape is cloaked in perpetual winter, then Beyond the Hills promises to be your cup of despair.

There are no easy villains or heroes in this sad and slow but forcefully told tale, which exhibits the same humanity Mungiu brought to 4 Months, 3 Weeks and 2 Days, his abortion drama that won the 2007 Palme d'Or.

A film that asks its viewer to consider the nature of good and evil, love and trust - and trust that turns into something like blind faith.

Beyond the Hills' undercurrents prove more interesting than its storyline or characters.

Strikingly shot and punishingly long ...

(Writer-director Christian) Mungiu balances his film's more disturbing content with peaceful shots of the idyllic, surrounding countryside and of intimacy between the two women while slowly building to an inevitable conclusion.

When the ill and unstable Alina returns to the monastery, just so she can be with her beloved, Beyond the Hills becomes a species of those exorcism movies that audiences gorge on, only done with a realism and ambiguity usually missing from the genre.

What makes this movie unique is that it holds literally everyone in the film accountable for the unfortunate goings on.

It's an exorcism movie for everyone who thought, after Mungiu's gruelling abortion buddy-movie 4 Months, 3 Weeks and 2 Days, that this guy should do an exorcism movie

It's an enigmatic and austere film from a region where political, sexual and religious repression are as stifling as the sooty air.

Mungui's rigorous approach to filmmaking isn't a ton of fun to watch, but his ideas stick with you.

It delivers an emotional punch, in what its director has called a story about the sin of indifference.

Such is the rigorous and high-minded nature of Romanian cinema that even a real-life exorcism story can inspire something loftier than a horror movie.

Heartbreak at a Romanian convent

...Cristian Mungiu has taken a real life event...to consider deeply human philosophies such as freedom vs. discipline, love vs. security, the choices facing those without financial recourse and the hypocrisies of organized religions.

I found it riveting to watch and fascinating to think about afterwards.

An undeniably tough watch.

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Source: http://www.rottentomatoes.com/m/beyond_the_hills_2012/

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