Saturday, October 31, 2009

新加坡‧動物園老虎咬死工人案‧驗屍庭裁決死者自殺

(新加坡)動物園白老虎咬死清潔工人事件經過2天研訊後,驗屍庭裁決諾丁死於自殺。

驗屍官楊啟英週五(10月30日)下判時說,雖然警方的調查無法確定諾丁(Nordin BinMontong)尋死的動機,但種種跡象顯示諾丁是故意尋死的。

指死者有機會卻不逃

首先,諾丁越過圍欄,闖入白虎展區,雙手高舉,涉水到雄白虎烏瑪(Omar)面前挺起胸膛,被虎掌擊倒。其次,他聽到圍觀遊客高喊叫他逃跑時,雖未受重傷,有機會和時間逃脫,但他沒這麼做,也沒有極力掙扎。

驗屍官說,動物園首席管理員兼合法持鎗人塞爾文從武器庫取出雙管散彈鎗趕抵白虎展區時,3隻白虎已被關進虎穴。但即使他更早抵達,由於周圍有遊客及其他管理員,他還必須考慮到他們的安全,不能向白虎開鎗,頂多只是向空中發出警告式的一鎗。

法醫剖屍後,發現諾丁身上有不少過90個傷痕,包括頭部、臉部、背部、手腳及肺部。剖屍報告顯示,諾丁死因是被動物咬導致身體多處受傷。

驗屍官也強調,警方的調查顯示,新加坡動物園的安全措施符合國際動物園與水族館協會(Association of Zoos and Aquariums)設下的國際標準。

Fed to Banks With Major Commercial Real Estate Loan Exposure: Bang You Are Dead

The Fed has just released a statement on commercial loan workouts. There can be more than one interpretation to what the Fed is up to here, but the confusion will spook markets even more so than they are now. Here's the full statement:

For immediate release

The Federal Reserve on Friday adopted a policy statement supporting prudent commercial real estate (CRE) loan workouts. This policy statement, adopted by each of the financial regulators,1 provides guidance for examiners, and for financial institutions that are working with CRE borrowers who are experiencing diminished operating cash flows, depreciated collateral values, or prolonged delays in selling or renting commercial properties. The financial regulators recognize that prudent loan workouts are often in the best interest of both financial institutions and borrowers, particularly during difficult economic conditions. This policy statement details risk-management practices for loan workouts that support prudent and pragmatic credit and business decision making within the framework of financial accuracy, transparency, and timely loss recognition.

Financial institutions that implement prudent loan workout arrangements after performing comprehensive reviews of borrowers' financial conditions will not be subject to criticism for engaging in these efforts, even if the restructured loans have weaknesses that result in adverse credit classifications. In addition, performing loans, including those renewed or restructured on reasonable modified terms, made to creditworthy borrowers, will not be subject to adverse classification solely because the value of the underlying collateral declined.

The policy statement includes examples of CRE loan workouts. The examples, provided for illustrative purposes only, reflect examiners' analytical processes for credit classifications and assessments of institutions' accounting and reporting treatments for restructured loans. The policy statement reiterates existing guidance that examiners are expected to take a balanced approach in assessing institutions’ risk-management practices for loan workout activities.

Footnotes

1.The financial regulators consist of the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, and the FFIEC State Liaison Committee. Return to text

2009 Banking and Consumer Regulatory PolicySo what is going on here?

1. The Fed clearly anticipates serious problems in the Commercial Real Estate market.

2. Problems so big that they are going to be changing policy.

3. They are encouraging banks to workout the loans and there won't be negative feedback from the Fed.

But here's what could be real major spooky to the markets. The Fed is probably also signalling that it is not going to do wholesale bailouts of the commercial real estate loan market, the way it did to parts of the mortgage securitized sector.

This is a total reversal of the attempt to prop up the residential market. The Fed wants the commercial market down and fast.

BOTTOM LINE: This means major, major hits ahead for bank earnings and not all banks will survive.

Do Direct Stimulus Jobs Really Cost $533,000 a Piece?!


On Thursday, the government released a flood of data [1] about the stimulus, showing how 9,000 federal contractors spent their stimulus dollars — including the value of the contract, each project’s status, and how much each of the contractor’s five highest-paid officers were paid.

But when it came to presenting that data, Recovery.gov [2], the government’s official site for stimulus information, highlighted one number in particular, posting it on the site’s main page [2] in large font: “JOBS CREATED/SAVED AS REPORTED BY FEDERAL CONTRACT RECIPIENTS: 30,383.” To make extra certain of getting viewers’ attention, the number itself appears in bright green.

As the economy continues to shed jobs [3], it’s easy to see why the administration is keen to highlight the number of jobs created by the stimulus. When the numbers were released, Jared Bernstein, the administration’s chief economist, said [4] the job count “exceeds our projections,” adding that it supported the conclusion “that the Recovery Act did indeed create or save about 1 million jobs in its first seven months.”

But do the 30,000 jobs represent a good return? And since the federal contracts for which data was reported this week represent just a sliver of the overall stimulus package, what do they really say about the impact of the stimulus as a whole?

Let’s start with the 30,000 jobs themselves. The federal contracts in question represented $16 billion in stimulus spending. Assuming the number of created or saved jobs reported by each contract recipient was accurate—which, as we’ve reported before [5], is still an open question—that breaks down to $533,000 for each job. That’s more than five times the projection of the president’s own Council of Economic Advisers [6], which estimated [7] in May that every $92,136 in government spending would create one job for one year.

Five hundred thousand dollars per job might sound like a lot of money, but wait: The data released this week covers only the jobs directly created by federal stimulus money so far. It doesn’t cover indirect jobs — the people who make the materials that contractors need to complete their project, or make the sandwich when a construction worker buys lunch from the proverbial roadside diner.

So, if the $16 billion in federal stimulus contracts generated 30,383 direct jobs, how many indirect jobs were created or saved? We asked the White House, which told us they believe that for each direct job created or saved, there is one indirect job. Assuming that’s right, that $16 billion created or saved some 60,000 jobs — which still clocks in at $267,000 per person.

What about the second question — the relationship between the 30,000 direct jobs reportedly created or saved by that $16 billion, and the job impact of the stimulus as a whole? We asked the White House for the logic behind Bernstein’s statement that this week’s numbers “point to the conclusion that the Recovery Act did indeed create or save about 1 million jobs in its first seven months.”

Their response: Because the $16 billion in federal contracts represents about 5 percent of the $339 billion spent so far, they multiplied the 30,000 jobs by 20. The result is 600,000 direct jobs; and, relying again on the assumption that each direct job produces one indirect job, the White House doubled that number to 1.2 million.

Of course, that assumes that for every part of the stimulus will have roughly the same job-creating impact as federal contracts. That’s contradicted by the Council of Economic Advisers’ own report [7], which said that while every $92,136 in government spending creates one job for one year, it takes $145,351 in tax cuts to achieve the same result. As much as 28 percent of the stimulus is going to tax cuts; if the Council’s estimates are right, then the White House’s assertion — that every part of the stimulus will produce the same job impact as federal contracts — starts to look a little less certain.

The bottom line, it seems, is that knowing for certain how many jobs the stimulus is producing remains, for now, as tricky as ever [8].

Ron Paul Geithner Fed Res As Lender Last Resort Contributes to Moral Hazard

Check this link ....... http://bit.ly/JECzF

Censored 9-11 Police Radio Transmissions Urban Moving Vans

Check this link ...... http://bit.ly/3lhOJk

Robert Kennedy on the Vaccine Autism Coverup

Check this link ...... http://bit.ly/4xgLMS

Mercury is good for you! - US Mainstream Media Report

Check this link ....... http://bit.ly/4EStGs