Thursday, March 22, 2012

Teen Mom 2 Star Jenelle Evans Getting Fake Boobies

Teen Mom 2 Star Jenelle Evans Getting Fake Boobies

Jenelle Evans, the naughty, pot-smoking reality star on MTV’s “Teen Mom 2″, has decided to get herself breast implants. It seems Jenelle is following in [...]

Teen Mom 2 Star Jenelle Evans Getting Fake Boobies Stupid Celebrities Gossip Stupid Celebrities Gossip News


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Source: http://www.toparticlesworld.com/download-best-virus-protection-antivirus-and-anti-spyware-2012/

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Wednesday, March 21, 2012

Muni defaults another blow for insurers

(Reuters) - A growing number of U.S. cities are choosing to fund essential services like public safety and garbage collection over making payments on their outstanding debt, as rising costs and falling revenue deplete their budgets.

So far, the bond defaults are not roiling the $3.7 trillion municipal market because insurance companies are stepping in to make payments to bond holders in some cases. But defaults on insured bonds are putting pressure on these insurers, which never fully recovered from the last decade's financial crisis.

The California cities of Stockton and Hercules, as well as Pennsylvania's capital, Harrisburg, have opted to default on some of their insured debt in recent months.

"Municipalities are saying this is what bond insurance is for - bond holders get paid," said Richard Lehmann, publisher of Distressed Debt Securities Newsletter.

So far in 2012, there have been 21 muni defaults totaling $978 million, versus 28 defaults totaling $522 million for the same period in 2011, said Lehmann, who sees the number rising. A breakdown of defaults on insured munis was not available.

Although issuers contend they are not singling out insured munis for defaults, some believe that municipalities are strategically protecting bond buyers by relying on insurers to pay the debt service.

"Such a default may signal changing attitudes by distressed municipalities to contemplate a strategic default or bankruptcy on insured debt, knowing that bond holders will not suffer losses," Moody's Investors Service said in a report this week.

The credit rating agency added that municipal issuers "may be willing to damage their relationship" with insurers, which in turn could potentially be exposed to large losses.

CITY SERVICES TRUMP BOND-HOLDERS

Harrisburg's state-appointed receiver said earlier this month that $5.3 million of payments due on general obligation bonds insured by Ambac Assurance Corp will be skipped.

"I was aware they were insured bonds when we made the decision," David Unkovic, the receiver, told Reuters, adding that the city's financial condition was more important than bond-holders.

"My first concern as receiver is to maintain vital and necessary service in the city," he said. "In order to do that I need sufficient cash flows."

The city of Stockton, nestled among the farms of California's Central Valley, is defaulting on about $2 million in bond payments for debt sold in 2004, 2007 and 2009. Wells Fargo & Co is the trustee on each of the debt issues and has filed a lawsuit against Stockton for missing its February 28 payment on its $32.8 million of 2004 parking facilities debt, said bank spokeswoman Elise Wilkinson.

Hercules, which had considered bankruptcy, reached a settlement this month with Ambac after defaulting on a $2.4 million bond payment due in February.

Some of the companies are starting to feel the pressure. Syncora Guarantee Inc last month told a federal judge in Alabama that the prospect of it having to make good on millions of dollars a month in debt payments owed by bankrupt Jefferson County might sink the company.

In addition, the once-widespread use of insurance on new issuance has shrunk to a sliver of the muni market. After the financial crisis, so-called monoline insurers left the business, and the largest remaining insurer, Assured Guaranty, is scaling back, depending on states' bankruptcy laws.

Insured bonds, which accounted for 57.3 percent of muni issuance in 2005, sank to only 5.5 percent of issuance in 2011, according to Thomson Reuters data.

Insurers do not appear to perceive an immediate risk. "We don't feel picked on," said a senior executive at a bond insurer. "I'm not sure it's correct to say issuers are deciding to default on insured bonds over uninsured ones. The market does not care whether a bond's insured or not. The fact they defaulted is what the market remembers." The executive, who spoke on condition of anonymity, said struggling issuers get no tangible benefit from skipping payments on an insured obligation over an uninsured one since any money must eventually be repaid to the insurer.

"It's not a get-out-of-jail card," the executive said.

THE FINANCIAL CRISIS LEGACY

There was a time when bond insurers confined themselves to the dull but steady business of underwriting municipal debt, effectively lending their superior credit ratings to cities and towns for a fee. The insurers branched out into structured financial products, which resulted in huge payouts when the credit crisis hit. One-time market leader MBIA chose to restructure, and its municipal National Public Finance business is no longer writing new policies, pending the outcome of a lawsuit filed by a number of banks challenging the restructuring. Ambac, once the second-largest U.S. bond insurer, went bankrupt in 2010, as did the parent of bond insurer FGIC. Syncora went through a major restructuring in 2009 and stopped writing new business as well. The carnage left one bond insurer standing, Assured Guaranty. On Tuesday Moody's placed its ratings, including the A3 senior unsecured rating of Assured Guaranty US Holding and Assured Guaranty Municipal Holdings, on review for possible downgrade.

"Assured Guaranty's business and financial profiles may have meaningfully deteriorated due to the firm's narrower business opportunities and substantial exposure to sectors adversely affected by the financial crisis and current economic stress," commented Moody's Associate Managing Director Stanislas Rouyer in a statement.

The company has argued it can still effectively underwrite smaller municipalities with lower-tier ratings. Even so, it is threatening to pull out of some states without tight bankruptcy controls.

"This is weighing more heavily in our underwriting as we examine the legal framework for bankruptcy in every state that we insure municipal securities," Assured said in a written reply to Reuters. "While some defaults have occurred on insured transactions, most have been on uninsured transactions."

Assured Guaranty said it believes defaults will remain infrequent, saying its municipal portfolio has experienced "only modest loss development on a few isolated transactions." As of the end of 2011, Assured Guaranty enhanced $15.2 billion of munis - a drop of 45.1 percent from 2010, when it was also the market's sole active guarantor. Assured listed exposure to $3.9 billion of debt sold by non-investment grade issuers on its 2011 financial statements. It includes notorious names like Alabama's Jefferson County sewer system, Harrisburg, Detroit, and Detroit Public Schools. Radian Group, which wrote bond insurance until 2008, said last September it was considering starting a new unit with dormant bond insurance assets it purchased from Macquarie Group. The Financial Times reported this week that Goldman, Sachs & Co has also been hiring for a bond insurance specialist.

(Reporting By Karen Pierog, additional reporting by Jim Christie in San Francisco, Michael Connor in Miami, Lisa Lambert in Washington and Ben Berkowitz in New York. Editing by Tiziana Barghini and Dan Grebler; Desking by Andrew Hay)

Source: http://news.yahoo.com/u-muni-defaults-another-blow-insurers-204357340.html

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Could a US Demjanjuk grave become neo-Nazi shrine?

FILE - In this May 12. 2011 file picture John Demjanjuk waits in a courtroom in Munich. German police say John Demjanjuk,who was charged with 28,060 counts of accessory to murder and convicted last year of serving as a Nazi death camp guard, has died. Rosenheim police official Kilian Steger told The Associated Press the 91-year-old died Saturday March 17, 2012 at the home for elederly people in southern Germany where he stayed since the end of his trial in Munich last year. Demjanjuk, a retired Ohio autoworker, was deported to Germany in 2009 to face trial after being stripped of his U.S. citizenship. (AP Photo/Matthias Schrader, File)

FILE - In this May 12. 2011 file picture John Demjanjuk waits in a courtroom in Munich. German police say John Demjanjuk,who was charged with 28,060 counts of accessory to murder and convicted last year of serving as a Nazi death camp guard, has died. Rosenheim police official Kilian Steger told The Associated Press the 91-year-old died Saturday March 17, 2012 at the home for elederly people in southern Germany where he stayed since the end of his trial in Munich last year. Demjanjuk, a retired Ohio autoworker, was deported to Germany in 2009 to face trial after being stripped of his U.S. citizenship. (AP Photo/Matthias Schrader, File)

FILE - This image released by the U.S. Department of Justice in Washington on Thursday, Feb. 21, 2002 shows annotations made by the Department of Justice on a section of a World War II-era SS identity card from the Trawniki training camp alleged to have belonged to John Demjanjuk. German police say sentenced Nazi criminal John Demjanjuk died Saturday March 17, 2012 at a home for the elderly in southern Germany where he has stayed since his trial ended in Munich last year. (AP Photo/Department of Justice)

FILE - In this May 11, 2011 file photo, John Demjanjuk arrives at the court building in Munich. German police say Demjanjuk, who was convicted last year of serving as a Nazi death camp guard, has died. Rosenheim police official Kilian Steger told The Associated Press that the 91-year-old died Saturday, March 17, 2012, at a home for the elderly in southern Germany where he has been staying since his trial ended in Munich last year. (AP Photo/Matthias Schrader, File)

(AP) ? If relatives of convicted Nazi war criminal John Demjanjuk get what they want, their patriarch will be buried in suburban Cleveland ? a prospect not sitting well with Jewish advocates who argue the retired autoworker could, in death, become a magnet for neo-Nazis.

Demjanjuk died Saturday in Germany at age 91, and his family in Seven Hills, Ohio, wants to return his body for burial. Even though his U.S. citizenship had been revoked and he was deported, there is no prohibition against returning the body to this country, the U.S. attorney's office in Cleveland said.

A Demjanjuk funeral in his adopted hometown would turn into a spectacle, said Efraim Zuroff, who leads the Nazi-hunting Simon Wiesenthal Center in Jerusalem.

"I have no doubt that a funeral in Seven Hills would turn into a demonstration of solidarity and support for Demjanjuk, who's the last person on earth who deserves any sympathy, frankly," Zuroff said in a telephone interview.

Demjanjuk had guarded his privacy carefully, posting a "no trespassing" sign outside his house and turning aside interview requests over the decades.

His attorney appealed Monday to German authorities to arrange for his body to be sent home to Ohio, and son John Demjanjuk Jr. confirmed that, but there was no word on any arrangements or whether a funeral might be done in secret.

John Demjanjuk Jr. said in an email Tuesday that any suggestion of his father's burial or gravesite turning into a spectacle was unwarranted.

"Over the past 35 plus years our family has had NO association with any part of the neo-Nazi groups, ever. We have condemned Nazi crimes as my father is himself a victim of the Nazis regardless of whose version of the case you believe," he said.

The Ukraine-born Demjanjuk was a retired U.S. autoworker who maintained over three decades of legal battles that he had been mistaken for someone else.

He came to the U.S. on Feb. 9, 1952, claiming to have spent much of World War II in a German prisoner of war camp. He eventually settled in the middle-class Cleveland suburb of Seven Hills and worked as a mechanic at Ford Motor Co.'s engine plant in nearby Brook Park.

That idyll ended in 1977, when the Justice Department alleged that he had hid his past as the feared Treblinka death camp guard "Ivan the Terrible" and revoked his citizenship. The Israeli Supreme Court returned him to the U.S. after it received evidence that another Ukrainian, not Demjanjuk, was Ivan the Terrible.

Eventually, after many legal twists and turns, Demjanjuk was convicted in May of 28,060 counts of being an accessory to murder at the Sobibor death camp in occupied Poland and sentenced to five years in prison. He died in a nursing home while awaiting appeal.

A U.S. burial site for Demjanjuk could become a shrine for neo-Nazis in the U.S. because they will never forget he was once misidentified as Ivan the Terrible, said Mark Potok, senior fellow at the Southern Poverty Law Center, noting that there are about 170 active neo-Nazi groups in the U.S.

"For neo-Nazis, I think it's entirely possible that a Demjanjuk grave becomes a monument to the alleged evils of the Jews," Potok said.

In Germany, the bones of Rudolf Hess, a deputy to Adolf Hitler, were exhumed under cover of darkness, burned and secretly scattered at sea after his grave became a shrine for thousands of neo-Nazis.

Rabbi Marvin Hier, founder of the Wiesenthal Center in Los Angeles, said Demjanjuk didn't have the stature that would attract adoring neo-Nazis to his grave.

"He's not an Adolf Hitler," Hier said.

Any hometown burial arrangements likely would be at Demjanjuk's longtime church, St. Vladimir Ukrainian Orthodox Cathedral in nearby Parma. Parishioners and the wider Ukrainian-American community had been a protective cocoon of support for Demjanjuk for decades.

The church signaled Sunday that it was holding out hope his name might be cleared. Just as Demjanjuk's conviction as Ivan the Terrible had been overturned, "so, too, in time, we believe that new evidence will be uncovered once again finding him innocent of the latest accusations," the cathedral said in a statement.

"Our parish and the Ukrainian community have always supported Mr. Demjanjuk and his claim of innocence of committing the crimes of which he was accused," the cathedral statement said. There was no mention of burial plans.

The U.S. Department of Justice, whose Nazi-hunting office directed the pursuit of Demjanjuk in the U.S., declined to comment Monday on the burial issue.

A U.S. State Department spokeswoman, Victoria Nuland, said the U.S. Consulate General in Munich "is providing consular assistance to Mr. Demjanjuk's family in the United States." There was no elaboration, but such help could include repatriation of remains.

Hier said it might be hard to find a cemetery that would accept Demjanjuk.

"If it were me or my family, I wouldn't want to have anyone buried near a Nazi war criminal," he said. "They are a disgrace to mankind."

___

Associated Press writers David Rising in Berlin and John Seewer in Toledo contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/386c25518f464186bf7a2ac026580ce7/Article_2012-03-20-Demjanjuk-Burial/id-ff851aed88494c8db91d3a02c9a4a1a4

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Tuesday, March 20, 2012

Maryland Defeats Louisville 72-68, Advances To Sweet 16 In NCAA Women's Tournament

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Maryland's Alyssa Thomas (25) drives to the basket as Louisville's Becky Burke (11) defends during the first half of an NCAA tournament second-round women's college basketball game, Monday, March 19, 2012, in College Park, Md. (AP Photo/Gail Burton)