July 28, 2011
UNAMI mandate
Through its resolution 2001, adopted on 28 July 2011, the Security Council extended the mandate of UNAMI until 31 July 2012.
The Mission is mandated “as circumstances permit” and “at the request of the Government of Iraq” to:
1. Advise support and assist the Government of Iraq in:
a. advancing their inclusive, political dialogue and national reconciliation;
b. development of processes for holding elections and referenda;
c. constitutional review and the implementation of constitutional provisions;
development of processes acceptable to the Government of Iraq to resolve disputed internal boundaries;
d. facilitating regional dialogue, including on issues of border security, energy, and refugees;
e. planning, funding and implementing reintegration programmes for former members of illegal armed groups;
f. initial planning for the conduct of a comprehensive census;
2. Promote, support, and facilitate, in coordination with the Government of Iraq:
a. The coordination and delivery of humanitarian assistance and the safe, orderly, and voluntary return, as appropriate;
b. The implementation of the International Compact with Iraq, including coordination with donors and international financial institutions;
c. The coordination and implementation of programmes to improve Iraq’s capacity to provide essential services for its people and continue active donor coordination of critical reconstruction and assistance programmes through the International
d.Reconstruction Fund Facility for Iraq (IRFFI);
e. Economic reform, capacity-building and the conditions for sustainable development, including through coordination with national and regional organizations and, as appropriate, civil society, donors, and international financial institutions;
f. The development of effective civil, social and essential services, including through training and conferences in Iraq when possible;
The contributions of United Nations agencies, funds, and programmes to the objectives outlined in this resolution under a unified leadership of the Secretary-General through his Special Representative for Iraq;
3. And also promote the protection of human rights and judicial and legal reform in order to strengthen the rule of law in Iraq; source
Thursday, July 28, 2011
Monday, July 25, 2011
Iran in '$10bn deal to export gas to Europe'
July 25, 2011
Iran in '$10bn deal to export gas to Europe'
Iran has signed a preliminary $10bn (£6.25bn) deal with Syria and Iraq to export some of its natural gas, local media have reported.
The memorandum of understanding signed by oil ministers from the three countries would see a 3,100 mile pipeline built through Iraq, Syria and Lebanon to the Mediterranean.
The deal may allow exports of gas to Europe - according to the Iranian Oil Ministry's website, Shana.
It would also supply gas to Syria.
Iran has roughly 28 trillion cubic meters of natural gas - the second largest reserves in the world according to research by BP.
The pipeline would allow it to export gas from the South Pars field, which it shares with Qatar.
Qatar is currently a major gas exporter to the UK - though that comes from different fields.
Iran in '$10bn deal to export gas to Europe'
Iran has signed a preliminary $10bn (£6.25bn) deal with Syria and Iraq to export some of its natural gas, local media have reported.
The memorandum of understanding signed by oil ministers from the three countries would see a 3,100 mile pipeline built through Iraq, Syria and Lebanon to the Mediterranean.
The deal may allow exports of gas to Europe - according to the Iranian Oil Ministry's website, Shana.
It would also supply gas to Syria.
Iran has roughly 28 trillion cubic meters of natural gas - the second largest reserves in the world according to research by BP.
The pipeline would allow it to export gas from the South Pars field, which it shares with Qatar.
Qatar is currently a major gas exporter to the UK - though that comes from different fields.
Ruh Roh ~ China And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse ...
July 25, 2011China And Iran To Bypass Dollar, Plan Oil Barter System, And A Deeper Dive Into The Iranian Oil Bourse
One of the more notable events in the past week was the previously discussed reopening of the Iranian Oil Bourse, an attempt by Iran to launch a venue that bypasses US sanctions against Iran which has prevented payment in the world’s reserve currency for Iranian goods. “Big deal”, some will say, this is not the first time Iran has attempt to upstage the Great Satan. Well, true, although as OilPrice said last week, “what it would take for Iran’s new exchange to survive and flourish are some heavy-duty customers that Washington would be wary of picking a fight with, and Tehran already has one – China… China, the world’s largest buyer of Iranian crude oil, has renewed its annual import pacts for 2011. In 2010 Iran supplied about 12 percent of China’s total crude imports.
According to the latest report of the China Customs Organization, Iran’s total oil exports to China stood at 8.549 million tons between January and April 2011, up 32 percent compared with the same period last year. Iran is currently China’s third largest supplier of crude oil, providing China with nearly one million barrels per day.” Still, the perceived provocation to Uncle Sam should China go ahead and slap America in the face by accepting the existence of the Kish exchange, would echo around the world. Which is why many don’t think much if anything will happen. Until today, that is: according to the FT, China has decided to commence an barter system in which Iranian oil is exchanged directly for Chinese exports. The net result: not only a slap for the US Dollar, but implicitly for all fiat intermediaries, as Iran and China are about to prove that when it comes to exchanging hard resources for critical Chinese goods and services, the world’s so called reserve currency is completely irrelevant. The implications of this are momentous, especially for US debt, whose indomitability is only predicated upon the continued acceptance of the currency it backs as a global reserve.
If China is now openly admitting to the world that it does not need US monetary intermediation, and by implication, the “debt” backing said intermediation, what then? And who will follow China next?
read more @ http://politicalmetals.com/
WELLS FARGO OFFERS IMMEDIATE CURRENCY EXCHANGE IN ATLANTA
July 25, 2011
WELLS FARGO OFFERS IMMEDIATE CURRENCY EXCHANGE IN ATLANTA
by Trevor Williams
Wells Fargo has opened international teller windows at 18 branches in metro Atlanta, allowing travelers to instantly buy or sell foreign currencies.
Previously, the bank had to order currencies for customer delivery. Now, travelers can walk into the bank just before a trip and walk out with the cash they'll need when they hit the ground overseas.
"Many travelers need foreign currency as soon as they arrive at their travel destination for expenses like taxis, tips or meals," Darryl Harmon, Southeast regional president, said in a news release.
With 21 international teller locations including branches in Savannah and Evans, Georgia is one of the first three eastern states to receive the service. Wells Fargo has opened 13 more sites in Alabama and Tennessee.
The service, which is also available for non-customers, has been offered in the San Francisco-based bank's western U.S. branches since 1999.
Financial Challenges Facing Foreign ExecutivesLatin American Association Elects New Board Chair and MembersDecatur School for Refugee Girls Seeks 'Head of School' Foreign Passports No Longer 'Secure and Verifiable'Immigration Legislation Affecting Companies Still Up in the Air
Visit - http://www.wellsfargo.com/foreignexchange
or call 1-800-xxx-xxxxto find the nearest location offering the service.
WELLS FARGO OFFERS IMMEDIATE CURRENCY EXCHANGE IN ATLANTA
by Trevor Williams
Wells Fargo has opened international teller windows at 18 branches in metro Atlanta, allowing travelers to instantly buy or sell foreign currencies.
Previously, the bank had to order currencies for customer delivery. Now, travelers can walk into the bank just before a trip and walk out with the cash they'll need when they hit the ground overseas.
"Many travelers need foreign currency as soon as they arrive at their travel destination for expenses like taxis, tips or meals," Darryl Harmon, Southeast regional president, said in a news release.
With 21 international teller locations including branches in Savannah and Evans, Georgia is one of the first three eastern states to receive the service. Wells Fargo has opened 13 more sites in Alabama and Tennessee.
The service, which is also available for non-customers, has been offered in the San Francisco-based bank's western U.S. branches since 1999.
Financial Challenges Facing Foreign ExecutivesLatin American Association Elects New Board Chair and MembersDecatur School for Refugee Girls Seeks 'Head of School' Foreign Passports No Longer 'Secure and Verifiable'Immigration Legislation Affecting Companies Still Up in the Air
Visit - http://www.wellsfargo.com/foreignexchange
or call 1-800-xxx-xxxxto find the nearest location offering the service.
Sunday, July 24, 2011
Prime Minister announces near the application of tax law and customs tariff
July 24, 2011
Prime Minister announces near the application of tax law and customs tariff
Baghdad, announced that the Prime Minister, Sunday, close the application of tax law and customs tariff to include primarily the goods and imported goods, which can be manufactured locally, as indicated to the exclusion of goods with a direct contact with the lives of citizens.
The Economic Adviser to the Prime Minister Abdul Hussein Al-Anbuge in an interview "Alsumaria News", "Tax Law and the Law on customs tariff is important, essential, and will be applied soon," adding that "the more goods direct contact with the life of the citizen and which are inputs to production as raw materials or semi-manufactured is exempt from tax." The Anbuge that " more goods that are subject to tax and high levels are items that can be manufactured locally, but stalled because of competition and dumping, which is practiced upon by the imported goods, "pointing out that" the tax law is the law of correction will help the industries and local products a lot."
Prime Minister announces near the application of tax law and customs tariff
Baghdad, announced that the Prime Minister, Sunday, close the application of tax law and customs tariff to include primarily the goods and imported goods, which can be manufactured locally, as indicated to the exclusion of goods with a direct contact with the lives of citizens.
The Economic Adviser to the Prime Minister Abdul Hussein Al-Anbuge in an interview "Alsumaria News", "Tax Law and the Law on customs tariff is important, essential, and will be applied soon," adding that "the more goods direct contact with the life of the citizen and which are inputs to production as raw materials or semi-manufactured is exempt from tax." The Anbuge that " more goods that are subject to tax and high levels are items that can be manufactured locally, but stalled because of competition and dumping, which is practiced upon by the imported goods, "pointing out that" the tax law is the law of correction will help the industries and local products a lot."
Thursday, July 21, 2011
What is the Peacock Angel?
What is the Peacock Angel?Dee Finney's blog
start date July 20, 2011
Today's date October 29, 2011
TOPIC: THE PEACOCK KANGEL AND THE TEMPLARS
This topic came up because I listened to an interview of an Iraqii man, now living in Canada. He was interviewed by an American Temp[lar who has a radio show on bbsradio.com The whole interview was about the religion based on the Peacock angel and how they are bringing this religion to America starting in 2012.
There is a lot of detailed information about the history below:
Tawsi Melek, the “Peacock Angel” and “Peacock King,” is the most import deity of the Yezidis. But he is not just the possession of the Yezidis, he belongs to the entire world. The Yezidis believe that they possess the oldest religion on Earth, the primeval faith that features Tawsi Melek, and that all other traditions are related to them through the Peacock Angel. They contend that Tawsi Melek is the true creator and ruler of the universe, and therefore a part of all religious traditions. He does not, however, always manifest within these diverse traditions as a peacock. Tawsi Melek has taken on many other forms throughout time.
The Yezidis do not believe that the Peacock Angel is the Supreme God.
The Supreme God created him as an emanation at the beginning of time. He was brought into manifestation in order to give the invisible, transcendental Supreme God a vehicle with which to create and administer the universe. Tawsi Melek is thus a tangible, denser form of the infinite Supreme God. In order to assist Tawsi Melek in this important role, the Supreme Creator also created six other Great Angels, who were, like the Peacock Angel, emanations of the Supreme God and not separate from him. When recounting the creation of all Seven Great Angels, the Yezidis often summarize the emanation process as follows:
Tawsi Melek was the first to emerge from the Light of God in the form of a seven-rayed rainbow, which is a form he still today continues to manifest within to them (usually as a rainbow around the Sun). But the Yezidis also claim that Tawsi Melek and the six Great Angels are collectively the seven colors of the rainbow.
Therefore, the six Great Angels were originally part of Tawsi Melek, the primal rainbow emanation, who bifurcated to become the rainbow’s seven colors, which are collectively the Seven Great Angels. Of the seven colors produced from the primal rainbow, Tawsi Melek became associated with the color blue, because this is the color of the sky and the heavens, which is the source of all colors.
CONTINUE TO READ .. HERE
Wednesday, July 20, 2011
IMF urges China to reform economy
Related article ~ Just Released *China ~ Spillover Report for the 2011 Article IV Consultation and Selected Issues .. July 2011 ... July 20, 2011
IMF urges China to reform economy
The International Monetary Fund has urged China to embark on sweeping financial system reforms to shore up long-term growth, starting by freeing up its undervalued yuan.
The IMF praised market-oriented changes already underway, but said China needed to embark on a complex "rebalancing" plan that would take the country from an export focus to a more domestic-consumption model.
That would boost household incomes, help build the country's service industries, and strengthen China's role in -- and reduce its systemic threats to -- the global financial system.
"China?s capacity to both transmit and originate real shocks is rising, implying an important stake for the world in its stability," the Fund said in a new report on the Chinese economy.
"Insofar as its export-oriented growth model is a source of stresses, economic rebalancing is crucial."
"A prerequisite for that financial reform will be to have a more appreciated renminbi," IMF China mission chief Nigel Chalk told reporters in a briefing on the report.
The IMF, as before, called the yuan, also called the renminbi, "substantially" undervalued.
Maliki: Iraq is serious completion of e-government project
Iraqi Prime Minister Nuri al-Maliki (R) and Shahristani (L) in China Wednesday, July 20, 2011
Maliki: Iraq is serious completion of e-government project
Alsumaria News / Baghdad,
Iraqi Prime Minister Nuri al-Maliki, on Wednesday, Iraq's seriousness to go ahead in e-government project, noting that the project required many areas in the country, expressed their R & D center in Shanghai, ready for the implementation of communication projects in Iraq.
Prime Minister Nuri al-Maliki A statement issued by his press office on the sidelines of his visit to the center of research and development for Huawei in Shanghai, China that Iraq "needs to evolve in the field of technology", stressing that "Iraq is a serious move on the subject of e-government in all aspects in accordance with the scientific developments in force globally.".
Monday, July 18, 2011
Warren Passed Over For Head of Consumer Financial Protection Bureau - Possible New Guy ~ Richard Cordray ...
July 18, 2011Elizabeth Warren Passed Over For Head of Consumer Financial Protection Bureau
The White House confirmed Sunday that former Ohio Attorney General
Richard Cordray will be nominated by President Obama to head the new Consumer Financial Protection Bureau. In doing so Obama passes over Harvard Professor Elizabeth Warren, the outspoken consumer advocate, Wall Street critic and White House special advisor responsible for developing the new agency. The President spoke of his nominee Cordray in a recent statement:
“Richard Cordray has spent his career advocating for middle class families, from his tenure as Ohio’s Attorney General, to his most recent role as heading up the enforcement division at the CFPB and looking out for ordinary people in our financial system.”
Many liberals had hoped that the President would select Warren to head the CFPB, despite their belief that Republicans would adamantly oppose Warren’s appointment. Democratic Ranking Member of the House Financial Services Committee Rep. Barney Frank told Reuters:
“I have strongly supported Elizabeth Warren and she would be my first choice for the position. I regret that she has fallen victim to such wholly unjustified political attacks. The President has made the second best appointment possible.”Sen. Charles Schumer said to PolitickerNY that in passing over Warren; “the President was just facing reality when he said that he couldn’t nominate her because she never would have been approved.”The appointment requires Senate confirmation to put Cordray at the head of a new federal agency that aims to restrict unfair, deceptive or abusive credit practices, promote financial education, and investigate consumer complaints. Senate Majority Leader Mitch McConnell recently reiterated the sentiment expressed by 44 Republican senators in May, who announced they would not vote to approve any candidate to run the bureau without changes to the agency’s structure.
An event at the White House is planned for Monday where Obama will discuss his pick.The Wall Street Journal reported Sunday that those who know Warren say she wanted the director post. PolitickerNY has suggested that Warren “is said to be interested in running against Massachusetts Republican Scott Brown.”
President Obama’s Speech In Rose Garden Of White House Nominating Richard Cordray As Director Of The Consumer Financial Protection Bureau ...
July 18, 2011
President Obama’s Speech In Rose Garden Of White House Nominating Richard Cordray As Director Of The Consumer Financial Protection Bureau
July 18, 2011
Transcript – Text
President Obama:
1:15 P.M. EDT
THE PRESIDENT: Good afternoon, everybody. It has been almost three years since the financial crisis pulled the economy into a deep recession. And millions of families are still hurting because of it. They’re trying to get by on one income instead of two, on fewer shifts at the plant or at the hospital. They’re cutting expenses, giving up on a family night out so there’s money for groceries. And for a lot of families, things were tough even before the recession.
So we’ve got to get the economy growing faster and make sure that small businesses can hire again, so that an entrepreneur out there can sell a new product, so that the middle class is getting stronger again, and so folks feel confident in their futures and their children’s futures.
That’s why we can’t let politics stand in the way of doing the right thing in Washington. We can’t stand in the way when it comes to doing the right thing on deficits. And that’s why I want to take steps like making sure payroll taxes for middle-class families don’t go back up next year. That’s why it’s so important that we tackle the problems that led us into this recession in the first place.
One of the biggest problems was that the tables were tilted against ordinary people in the financial system. When you get a home loan, it came with pages of fine print. When you got a credit card, it was as if the contract was written in another language. These kinds of things opened the door to unscrupulous practices — loans with hidden fees and terms that meant your rate could double overnight. It led to people getting mortgages they couldn’t afford, and it put honest businesses at a disadvantage. And it encouraged dangerously risky behavior on Wall Street, which dragged the economy into the mess that we’re still trying to clean up.
That’s why we passed financial reform a year ago. It was a common-sense law that did three things. First, it made taxpayer-funded bailouts illegal, so taxpayers don’t have to foot the bill if a big bank goes under. Second, it said to Wall Street firms, you can’t take the same kind of reckless risks that led to the crisis. And third, it put in place the stronger — the strongest consumer protections in history.
Now, to make sure that these protections worked -– so ordinary people were dealt with fairly, so they could make informed decisions about their finances –- we didn’t just change the law. We changed the way the government did business. For years, the job of protecting consumers was divided up in a lot of different agencies. So if you had a problem with a mortgage lender, you called one place. If you had a problem with a credit card company, you called somebody else. It meant there were a lot of people who were responsible, but that meant nobody was responsible.
And we changed that. We cut the bureaucracy and put one consumer watchdog in charge, with just one job: looking out for regular people in the financial system. Now, this is an idea that I got from Elizabeth Warren, who I first met years ago. Back then — this is long before the financial crisis — Elizabeth was sounding the alarm on predatory lending and the financial pressures on middle-class families. And in the years since, she’s become perhaps the leading voice in our country on behalf of consumers. And let’s face it, she’s done it while facing some very tough opposition and drawing a fair amount of heat. Fortunately, she’s very tough.
And that’s why I asked Elizabeth Warren to set up this new bureau. Over the past year she has done an extraordinary job. Already, the agency is starting to do a whole bunch of things that are going to be important for consumers — making sure loan contracts and credit card terms are simpler and written in plain English. Already, thanks to the leadership of the bureau, we’re seeing men and women in uniform who are getting more protections against fraud and deception when it comes to financial practices. And as part of her charge, I asked Elizabeth to find the best possible choice for director of the bureau.
And that’s who we found in Richard Cordray. Richard was one of the first people that Elizabeth recruited, and he’s helped stand up the bureau’s enforcement division over the past six months. I should also point out that he took this job –- which meant being away from his wife and 12-year-old twins back in Ohio –- because he believed so deeply in the mission of the bureau. Prior to this, as Ohio’s attorney general, Rich helped recover billions of dollars in things like pension funds on behalf of retirees, and stepped up the state’s efforts against unscrupulous lending practices. He’s also served as Ohio’s treasurer and has successfully worked with people across the ideological spectrum -– Democrats and Republicans, banks and consumer advocates.
Now, last but not least, back in the ‘80s, Richard was also a five-time Jeopardy champion — (laughter) — and a semi-finalist in the Tournament of Champions. Not too shabby. That’s why all his confirmation — all his answers at his confirmation hearings will be in the form of a question. That’s a joke. (Laughter.)
So I am proud to nominate Richard Cordray to this post. And we’ve been recently reminded why this job is going to be so important. There is an army of lobbyists and lawyers right now working to water down the protections and the reforms that we passed. They’ve already spent tens of millions of dollars this year to try to weaken the laws that are designed to protect consumers. And they’ve got allies in Congress who are trying to undo the progress that we’ve made. We’re not going to let that happen.
The fact is the financial crisis and the recession were not the result of normal economic cycles or just a run of bad luck. They were abuses and there was a lack of smart regulations. So we’re not just going to shrug our shoulders and hope it doesn’t happen again. We’re not going to go back to the status quo where consumers couldn’t count on getting protections that they deserved. We’re not going to go back to a time when our whole economy was vulnerable to a massive financial crisis. That’s why reform matters. That’s why this bureau matters. I will fight any efforts to repeal or undermine the important changes that we passed. And we are going to stand up this bureau and make sure it is doing the right thing for middle-class families all across the country.
Middle-class families and seniors don’t have teams of lawyers from blue-chip law firms. They can’t afford to hire a lobbyist to look out for their interests. But they deserve to be treated honestly. They deserve a basic measure of protection against abuse. They shouldn’t have to be a corporate lawyer in order to be able to read something they’re signing to take out a mortgage or to get a credit card. They ought to be free to make informed decisions, to buy a home or open a credit card or take out a student loan, and they should have confidence that they’re not being swindled. And that’s what this consumer bureau will achieve.
I look forward to working with Richard Cordray as this bureau stands up on behalf of consumers all across the country. I want to thank both Elizabeth and Tim Geithner for the extraordinary work that they’ve done over at Treasury to make sure that, a year after we passed this law, it is already having an impact and it’s going to have impact for years to come.
Thank you very much and congratulations, Rich.
Q Mr. President, any progress in your talks with Speaker Boehner yesterday? Any progress?
THE PRESIDENT: We’re making progress.
END 1:21 P.M. EDT
President Obama’s Speech In Rose Garden Of White House Nominating Richard Cordray As Director Of The Consumer Financial Protection Bureau
July 18, 2011
Transcript – Text
President Obama:
1:15 P.M. EDT
THE PRESIDENT: Good afternoon, everybody. It has been almost three years since the financial crisis pulled the economy into a deep recession. And millions of families are still hurting because of it. They’re trying to get by on one income instead of two, on fewer shifts at the plant or at the hospital. They’re cutting expenses, giving up on a family night out so there’s money for groceries. And for a lot of families, things were tough even before the recession.
So we’ve got to get the economy growing faster and make sure that small businesses can hire again, so that an entrepreneur out there can sell a new product, so that the middle class is getting stronger again, and so folks feel confident in their futures and their children’s futures.
That’s why we can’t let politics stand in the way of doing the right thing in Washington. We can’t stand in the way when it comes to doing the right thing on deficits. And that’s why I want to take steps like making sure payroll taxes for middle-class families don’t go back up next year. That’s why it’s so important that we tackle the problems that led us into this recession in the first place.
One of the biggest problems was that the tables were tilted against ordinary people in the financial system. When you get a home loan, it came with pages of fine print. When you got a credit card, it was as if the contract was written in another language. These kinds of things opened the door to unscrupulous practices — loans with hidden fees and terms that meant your rate could double overnight. It led to people getting mortgages they couldn’t afford, and it put honest businesses at a disadvantage. And it encouraged dangerously risky behavior on Wall Street, which dragged the economy into the mess that we’re still trying to clean up.
That’s why we passed financial reform a year ago. It was a common-sense law that did three things. First, it made taxpayer-funded bailouts illegal, so taxpayers don’t have to foot the bill if a big bank goes under. Second, it said to Wall Street firms, you can’t take the same kind of reckless risks that led to the crisis. And third, it put in place the stronger — the strongest consumer protections in history.
Now, to make sure that these protections worked -– so ordinary people were dealt with fairly, so they could make informed decisions about their finances –- we didn’t just change the law. We changed the way the government did business. For years, the job of protecting consumers was divided up in a lot of different agencies. So if you had a problem with a mortgage lender, you called one place. If you had a problem with a credit card company, you called somebody else. It meant there were a lot of people who were responsible, but that meant nobody was responsible.
And we changed that. We cut the bureaucracy and put one consumer watchdog in charge, with just one job: looking out for regular people in the financial system. Now, this is an idea that I got from Elizabeth Warren, who I first met years ago. Back then — this is long before the financial crisis — Elizabeth was sounding the alarm on predatory lending and the financial pressures on middle-class families. And in the years since, she’s become perhaps the leading voice in our country on behalf of consumers. And let’s face it, she’s done it while facing some very tough opposition and drawing a fair amount of heat. Fortunately, she’s very tough.
And that’s why I asked Elizabeth Warren to set up this new bureau. Over the past year she has done an extraordinary job. Already, the agency is starting to do a whole bunch of things that are going to be important for consumers — making sure loan contracts and credit card terms are simpler and written in plain English. Already, thanks to the leadership of the bureau, we’re seeing men and women in uniform who are getting more protections against fraud and deception when it comes to financial practices. And as part of her charge, I asked Elizabeth to find the best possible choice for director of the bureau.
And that’s who we found in Richard Cordray. Richard was one of the first people that Elizabeth recruited, and he’s helped stand up the bureau’s enforcement division over the past six months. I should also point out that he took this job –- which meant being away from his wife and 12-year-old twins back in Ohio –- because he believed so deeply in the mission of the bureau. Prior to this, as Ohio’s attorney general, Rich helped recover billions of dollars in things like pension funds on behalf of retirees, and stepped up the state’s efforts against unscrupulous lending practices. He’s also served as Ohio’s treasurer and has successfully worked with people across the ideological spectrum -– Democrats and Republicans, banks and consumer advocates.
Now, last but not least, back in the ‘80s, Richard was also a five-time Jeopardy champion — (laughter) — and a semi-finalist in the Tournament of Champions. Not too shabby. That’s why all his confirmation — all his answers at his confirmation hearings will be in the form of a question. That’s a joke. (Laughter.)
So I am proud to nominate Richard Cordray to this post. And we’ve been recently reminded why this job is going to be so important. There is an army of lobbyists and lawyers right now working to water down the protections and the reforms that we passed. They’ve already spent tens of millions of dollars this year to try to weaken the laws that are designed to protect consumers. And they’ve got allies in Congress who are trying to undo the progress that we’ve made. We’re not going to let that happen.
The fact is the financial crisis and the recession were not the result of normal economic cycles or just a run of bad luck. They were abuses and there was a lack of smart regulations. So we’re not just going to shrug our shoulders and hope it doesn’t happen again. We’re not going to go back to the status quo where consumers couldn’t count on getting protections that they deserved. We’re not going to go back to a time when our whole economy was vulnerable to a massive financial crisis. That’s why reform matters. That’s why this bureau matters. I will fight any efforts to repeal or undermine the important changes that we passed. And we are going to stand up this bureau and make sure it is doing the right thing for middle-class families all across the country.
Middle-class families and seniors don’t have teams of lawyers from blue-chip law firms. They can’t afford to hire a lobbyist to look out for their interests. But they deserve to be treated honestly. They deserve a basic measure of protection against abuse. They shouldn’t have to be a corporate lawyer in order to be able to read something they’re signing to take out a mortgage or to get a credit card. They ought to be free to make informed decisions, to buy a home or open a credit card or take out a student loan, and they should have confidence that they’re not being swindled. And that’s what this consumer bureau will achieve.
I look forward to working with Richard Cordray as this bureau stands up on behalf of consumers all across the country. I want to thank both Elizabeth and Tim Geithner for the extraordinary work that they’ve done over at Treasury to make sure that, a year after we passed this law, it is already having an impact and it’s going to have impact for years to come.
Thank you very much and congratulations, Rich.
Q Mr. President, any progress in your talks with Speaker Boehner yesterday? Any progress?
THE PRESIDENT: We’re making progress.
END 1:21 P.M. EDT
Thursday, July 14, 2011
Iran to Revalue Riyal (Iran to change currency's name) ...
July 14, 2011
Iran to Revalue Riyal (Iran to change currency's name) ...
The Governor of the Central Bank of Iran, Mahmoud Bahmani, said yesterday that the Iranian government agreed to remove four zeros from the local currency.
The U.S. dollar is worth more than ten thousand Iranian riyals while the Euro is worth more than 15 thousand riyals. The plan to change the currency has been on the government's agenda since the last year, but only recently agreed to reduce the currency's denomination.
Bahmani clarified that the Central Bank and the government are planning to rename the local currency without revealing further details.
Central Bank of Iran, CBI said the official inflation rate in that country was 14.2% last May. However, some economic observers are skeptical that it represents the real inflation rate.
Fuel prices have reportedly increased in Iran seven times, particularly after the abolition of government subsidies on food and fuel last December.
Tehran maintains that the international sanctions imposed on the Islamic Republic, against the background of its intransigence over its nuclear program, didn't affect the Iranian national economy.
http://www.zawya.com/story.cfm/sidZAWYA20110714132631/lok132600110714/Iran_To_Revalue_Riyal?&zawyaemailmarketing
Iran to Revalue Riyal (Iran to change currency's name) ...
The Governor of the Central Bank of Iran, Mahmoud Bahmani, said yesterday that the Iranian government agreed to remove four zeros from the local currency.
The U.S. dollar is worth more than ten thousand Iranian riyals while the Euro is worth more than 15 thousand riyals. The plan to change the currency has been on the government's agenda since the last year, but only recently agreed to reduce the currency's denomination.
Bahmani clarified that the Central Bank and the government are planning to rename the local currency without revealing further details.
Central Bank of Iran, CBI said the official inflation rate in that country was 14.2% last May. However, some economic observers are skeptical that it represents the real inflation rate.
Fuel prices have reportedly increased in Iran seven times, particularly after the abolition of government subsidies on food and fuel last December.
Tehran maintains that the international sanctions imposed on the Islamic Republic, against the background of its intransigence over its nuclear program, didn't affect the Iranian national economy.
http://www.zawya.com/story.cfm/sidZAWYA20110714132631/lok132600110714/Iran_To_Revalue_Riyal?&zawyaemailmarketing
Tuesday, July 12, 2011
Iraq and Kuwait Row Brews Over Shipping Access
July 12, 2011Iraq and Kuwait Row Brews Over Shipping Access Mubarak Port Project Causes Friction
The Iraqi Transportation Minister Hadi al-Amari has today called on the Kuwaiti government to halt work on the Mubarak Al-Kabeer port project and stated that the continued work on the project “demonstrates the clear intention of Kuwait to block shipping lanes from Iraqi ports”.
Work began on the controversial $1.1 billion project in April, with the Kuwaiti’s stating that their goal is to build a world-class container port on Boubyan island that will be capable of meeting the shipping needs of the Gulf states and countries in Central Asia, with a total of sixty berths of twenty meters draft expected to be available once the port is fully online.
However, the Iraqi’s have complained that the project violates the two countries' UN - demarcated border and encroaches on its territorial waters, as well as jeopardising Iraq’s own plans for a giant new port on the Al-Faw Peninsula, little more than a kilometre from the site of the new Kuwaiti shipping centre.
Mr. Amari added that: "We say we will not accept that Basra and Iraq be strangled in any way.
“We feel it is necessary to stop work, especially since only 14 percent of the work has been completed".
Tensions have been raised between the two states by a long-running dispute over billions of dollars in reparations owed by Iraq for its invasion of Kuwait in 1990. For many Iraqis the location of the new development is perceived as part of a wider scheme to keep Iraq from rebuilding its economy and infrastructure after years of conflict.
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Tuesday, July 5, 2011
Iran to Revalue Riyal (Iran to change currency's name) ...
July 14, 2011
The Governor of the Central Bank of Iran, Mahmoud Bahmani, said yesterday that the Iranian government agreed to remove four zeros from the local currency.
The U.S. dollar is worth more than ten thousand Iranian riyals while the Euro is worth more than 15 thousand riyals. The plan to change the currency has been on the government's agenda since the last year, but only recently agreed to reduce the currency's denomination.
Bahmani clarified that the Central Bank and the government are planning to rename the local currency without revealing further details.
Central Bank of Iran, CBI said the official inflation rate in that country was 14.2% last May. However, some economic observers are skeptical that it represents the real inflation rate.
Fuel prices have reportedly increased in Iran seven times, particularly after the abolition of government subsidies on food and fuel last December.
Tehran maintains that the international sanctions imposed on the Islamic Republic, against the background of its intransigence over its nuclear program, didn't affect the Iranian national economy.
http://www.zawya.com/story.cfm/sidZAWYA20110714132631/lok132600110714/Iran_To_Revalue_Riyal?&zawyaemailmarketing
The Governor of the Central Bank of Iran, Mahmoud Bahmani, said yesterday that the Iranian government agreed to remove four zeros from the local currency.
The U.S. dollar is worth more than ten thousand Iranian riyals while the Euro is worth more than 15 thousand riyals. The plan to change the currency has been on the government's agenda since the last year, but only recently agreed to reduce the currency's denomination.
Bahmani clarified that the Central Bank and the government are planning to rename the local currency without revealing further details.
Central Bank of Iran, CBI said the official inflation rate in that country was 14.2% last May. However, some economic observers are skeptical that it represents the real inflation rate.
Fuel prices have reportedly increased in Iran seven times, particularly after the abolition of government subsidies on food and fuel last December.
Tehran maintains that the international sanctions imposed on the Islamic Republic, against the background of its intransigence over its nuclear program, didn't affect the Iranian national economy.
http://www.zawya.com/story.cfm/sidZAWYA20110714132631/lok132600110714/Iran_To_Revalue_Riyal?&zawyaemailmarketing
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