first_imgThe focus of attention was on the way thousands of cops turned their backs on Mayor de Blasio. Their movement is an undemocratic, semi-fascist manifestation of defiance.New York, Jan. 4 — Over the past nine days, two police funerals in New York got massive coverage in the media, showing ruling class support for the cops. Both funerals were also political demonstrations by the police, demanding to continue their policy of unrestrained racist brutality against oppressed people.The first, on Dec. 27, for Officer Rafael Ramos, had the character of a state funeral. The White House sent Vice President Joseph Biden to represent President Obama. New York Gov. Andrew Cuomo and Mayor Bill de Blasio took the podium, as well as Police Commissioner William Bratton.A week later on Jan. 4, at the funeral for Officer Wenjian Liu, FBI head James Comey represented the Justice Department. Cuomo could not come because his father, Mario Cuomo, had just died. But De Blasio and Bratton both spoke.Both times, CNN reported, more than 1,100 cops from all over the country were flown in for the funerals free of charge by JetBlue. The media reported that 20,000 cops attended the first funeral and 10,000 attended the second. The politicians and the police commissioner vied with each other to manufacture sympathy for the cops slain on Dec. 20 and to heap praise on the police in general.It is worth noting that on Dec. 13, over 40,000 people had demonstrated against the cops in New York City for nine hours in the cold.No pomp and ceremony for the victimsOf course, JetBlue did not offer to fly free of charge those people who marched under the banner #BlackLivesMatter to the funerals of Michael Brown or Eric Garner. Unarmed African Americans who are gunned down, like so many others, by the cops apparently do not merit state funerals. Their families do not merit the glowing, saccharine sympathy poured out by capitalist politicians occupying the highest offices, nor the hundreds of thousands of dollars raised for the families of the police to pay for mortgages and children’s education.Representatives of the White House, the governor and the mayor did not show up at the gravesites of the victims of the racist cops. The media did not give massive, sympathetic coverage for days in advance about their funerals. The oppressed have to pay for their own funerals, do their own publicity, and fight just to get a small slice of the limelight, even in the most highly publicized cases of police killing. All this while trying to make ends meet.But there were other aspects about the funerals for the police. First of all, they were meant to undercut the mass resistance that is growing around the #BlackLivesMatter movement, which has mushroomed with unprecedented energy and determination from coast to coast, North to South, in cities large and small.The media falsely painted the random killing of the two cops by a troubled individual as retribution for the killings of Michael Brown and Eric Garner. This was meant to push the movement back and undercut the growing sympathy it has gathered everywhere.Restoring the image of the copsOne of the most important political aims of the funerals, as far as the racist ruling class is concerned, was to refurbish the image of the cops and the grand jury system. After the killing of the two cops, the rulers seized the initiative to make them into martyrs. They gave vivid portrayals of their personal lives. They televised their grieving relatives. They dwelled upon the “danger” that the cops supposedly face and all but turned them into saints.The aim was to blot out the searing image of Eric Garner being choked to death on video by New York Police Department Officer Daniel Pantaleo, backed by a gang of accomplices; to put into the background the image of Michael Brown being shot with his hands up, after which his body lay on the ground for four hours. The ruling class publicists used the funerals for all they were worth to drown out the suffering of the oppressed and hush up the crimes of the cops — mercenaries who occupy the oppressed communities.This country is mired in an economic crisis. The last thing the ruling class wants is for the workers and the oppressed to weaken the cops, who will be called upon in the future to defend the capitalists and put down uprisings of the oppressed.Struggle between de Blasio and the copsThe funerals also became an arena for the struggle of the cops against civilian authority and any attempt to restrain their racism and brutality. The focus of attention was on the way thousands of cops turned their backs on Mayor de Blasio during the Ramos funeral. During Liu’s funeral, the number of cops turning their backs declined to several hundred, according to the media. This came after Bratton issued a memo disapproving of the tactic. But there was no decline in the cops’ antagonism for any civilian restraint on their racist aggression.Their movement is an undemocratic, semi-fascist manifestation of defiance. First of all, whatever one thinks of de Blasio and his compromise tactics of appeasement (approving the “broken windows” policy, for example), nevertheless, he was elected with 65 percent of the general vote and 95 percent of the Black vote.It is widely acknowledged that most of his victory margin came from de Blasio’s stand against stop-and-frisk and for reforming the police department.Toward the end of the administration of billionaire Mayor Michael Bloomberg, mass pressure and a lawsuit brought by the Center for Constitutional Rights brought about a legal victory against stop-and-frisk. The cops have fought this decision relentlessly; negotiations over its implementation are still going on. Much of the police rebellion is over de Blasio trying to curtail — not end — stop-and-frisk as well as other reform measures, such as “retraining,” body cameras for cops, restructuring the Civilian Complaint Review Board with more liberal members, etc.What the cops are doing is undemocratic in two respects. They are an armed, racist force trying to overturn civilian authority over them. And they are trying to overturn the results of an overwhelming popular vote, especially the Black vote, that was meant to rein in the police.The so-called “police strike” or slowdown, in which they have ceased giving out traffic tickets and summonses for minor violations, is directed against de Blasio and the city budget. Ironically, the masses are probably much relieved to be free of this harassment, although it also fills the coffers of City Hall.Decades of fighting to retain racist policiesAs far back as 1965, Mayor John Lindsay, a liberal Republican, was elected mayor largely on the program of police reform. His election came after many cases of police killings and beatings of African Americans and Latino/as. He appointed a commission to investigate the matter and make proposals, which led to one to establish a Civilian Complaint Review Board. At the time, all complaints about the police were handled by the police themselves.The Patrolmen’s Benevolent Association, the same organization presently headed by Patrick Lynch, who says about de Blasio that “City Hall has blood on its hands,” opposed Lindsay back then and fought the CCRB by supporting a referendum to stop it. They plastered the city with posters of a Black man, with a smoking gun in his hand, standing over a dead cop. This racist appeal successfully defeated the CCRB, in spite of a vigorous grassroots campaign to oppose the racist PBA referendum.In 1968 the racist governor of Alabama, George Wallace, ran for president on an independent ticket against the candidates of the two big capitalist parties, whom he denounced in a fascist manner.Wallace had blocked the entrance doors to the University of Alabama in 1963 to stop two African-American students from entering. He said at the time, “Segregation now, segregation tomorrow, segregation forever!” Finally the National Guard, under federal control, forced the state to register the students.When this segregationist scheduled a presidential campaign rally at Madison Square Garden in New York, Wallace posters went up in police precincts around the city. During a mass demonstration against Wallace called by Youth Against War & Fascism, 10,000 protesters battled the cops in the streets. The demonstrators could see Wallace buttons behind the lapels of many of the white cops.The white police support of Wallace was a demonstration of raw racism and was directed at both the Lindsay administration and the African-American and Latino/a communities.Struggle against David Dinkins, first Black mayorIn 1989 David Dinkins was elected New York City’s first Black mayor. Although he strengthened the police force considerably, he also campaigned on police reform and introduced a proposal for a Civilian Complaint Review Board. He also ordered the cops to use restraint when putting down a Black rebellion in Brooklyn after a Black child was killed in a traffic accident.Dinkins also refused to give the cops semi-automatic weapons after they started a public campaign about allegedly being “outgunned by the criminals.” Actually, the so-called “criminals” with high-powered weapons could not have remained free for one day except for the fact that corrupt cops were deeply involved in allowing guns and drugs into the community.The PBA, led at the time by Phil Caruso, campaigned against Dinkins in the 1992 mayoral election. The PBA was in league with racist, right-wing mayoral candidate Rudolph Giuliani. On Sept. 16, 1992, during a Giuliani election rally, 10,000 off-duty cops, many of them drunk, leaped over barricades and swarmed the steps of City Hall. They assaulted Black people in the area, including a Black woman member of the City Council. They blocked the Brooklyn Bridge.The cops carried derogatory signs about Dinkins and hurled racial slurs, calling him a “washroom attendant.” Giuliani spoke on the platform with Caruso and riled up the crowd. The cops also assaulted reporters. Ray Kelly was acting police commissioner at the time. There were never any consequences for the police mob.This is the context in which the struggle for and against “police reform” must be understood. Police reform, given the racist police repression and the level of police corruption in this country, always boils down to curtailing the racist violence of the police and/or their corrupt practices.The reforms themselves, however, cannot change the repressive and racist character of the police, no matter if Black police are on the force or who is in charge. Black police themselves have testified over and over about their fear of white police, both in uniform and on the streets.When the movement supports demands for police reform by the Black and Latino/a communities, it should not be because we expect the cops to be transformed. It is to show solidarity with the struggle against racism.The only way to push the police back is to escalate the magnificent #BlackLivesMatter mass mobilization that has been going on for months and has been growing stronger and stronger.Put the killer cops and their prosecutorial allies on the defensive. Make them fear the wrath of the people. That is the best way to get any police reform. But the real reform is to get rid of them altogether, together with the bosses and bankers they serve.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

first_imgNews RSF_en September 4, 2007 – Updated on January 20, 2016 One year work ban slapped on journalist in “shameful” and “dangerous” court ruling July 6, 2020 Find out more News News December 4, 2019 Find out more ArgentinaAmericas Journalists face archaic sanction of capital punishment in some parts of the world Follow the news on Argentina On eve of the G20 Riyadh summit, RSF calls for public support to secure the release of jailed journalists in Saudi Arabia Organisation News to go further A one-year suspended jail sentence and one-year professional ban against radio boss Sergio Poma for “insulting” provincial governor of Salta in the north-west, amounts to “censorship” says Reporters Without Borders. Reporters Without Borders today protested against a one-year suspended prison sentence and a one year professional ban imposed yesterday on radio and news agency proprietor Sergio Poma for “insulting” Juan Carlos Romero, governor of Salta, in north-western Argentina, whom he had accused of malpractice. Carlos Romero laid a complaint against Poma, of radio FM Noticias, after he accused him of fraud on the programme “Usted Opina”. The journalist also accused the governor of irregularities in funding his 2003 election campaign.The political ally of former president Carlos Menem allegedly received financial support from the Fundación Argentina Solidaria to which his private secretary Angel Torres and Romero’s wife belong.“Even a suspended prison sentence for a press offence seems excessive,” the worldwide press freedom organisation said. “Even supposing Juan Carlos Romero to have been in his rights, a fine would have been quite enough.”“Banning Sergio Poma from doing his job is a “shameful and dangerous” decision. What can justify punishing a journalist by robbing him of his right to speak? Above all a decision like this, if upheld, could make jurisprudence and push the press into self-censorship. It therefore represents an obstruction to press freedom and we call on broadcast regulator COMFER, to which the case has already been referred, to annul it while waiting for a possible appeal ruling,” it concluded.The court which handed down the sentence sent the case to COMFER, which is supposed to rule on any further sanctions against Sergio Poma. The judge also ordered that the conviction should be reported in the regional press.Members of the journalist’s family greeted the verdict by insulting the magistrates and singing songs against the governor. Poma’s lawyer said the ban on his client working was “censorship”Carlos Romero had called for an “exemplary” sentence so that “the journalist understands there are limits”. It is the second time he has brought a case against Poma in similar circumstances. In 2003 the journalist was sentenced to a six-month suspended sentence and ordered to pay the governor 20,000 pesos (about 4,600 euros) damages for “insults” and “libel”. Poma is currently facing another complaint for the same reason, brought by Angel Torres.A few days before the court ruling, journalist Carlos Del Frade was threatened with prison for condemning in the monthly El Eslabón in August 2005 the unjustified closure of the daily El Ciudadano, in Rosario, Santa de Fe province. The proprietor, Eduardo López, also president of a first division football club, brought a case against the journalist for “libel”, “insults” and incitement to extortion”. ArgentinaAmericas Receive email alerts November 19, 2020 Find out more Latin American media: under control of families, economic and political elites Help by sharing this information last_img read more

first_img Google+ By News Highland – January 21, 2019 Arranmore progress and potential flagged as population grows Facebook Top Garda due in Donegal today for AGM WhatsApp The Deputy General Secretary of the Association of Garda Sergeants & Inspectors is in Donegal later today for an AGM.Inspector Antoinette Cunningham is meeting with local Gardai this evening where the potential impact of Brexit and a possible hard border are expected to top the agenda.Speaking ahead of today’s meeting, Inspector Cunningham says she will be wanting to hear the various issues and concerns local Gardai have going forward:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2019/01/agsghjghjhgjghi1pm.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articleAnother man arrested in connection with Derry car bombNext articleNASRA members to strike as recognition row remains unresolved News Highland Pinterest DL Debate – 24/05/21 Nine til Noon Show – Listen back to Monday’s Programme AudioHomepage BannerNewscenter_img Facebook Twitter WhatsApp RELATED ARTICLESMORE FROM AUTHOR Google+ News, Sport and Obituaries on Monday May 24th Twitter Loganair’s new Derry – Liverpool air service takes off from CODA Important message for people attending LUH’s INR clinic Pinterestlast_img read more

first_img OF FOUNDERS AND RUSSIANSGavel Gamut By Jim RedwineHarvard law professor Michael Klarman was the keynote speaker at the June 2019 Indiana Graduate Judges Conference. As an attendee, I received a signed copy of Klarman’s book, The Framers’Coup, The Making of the United States Constitution. Gentle Reader, to give you some perspective on the exhilarating experience of a law professor’s book, the tome’s Note and Index sections run from page 633 to 865. Of course, the substance of the book contains 632 pages of which several pages thank the law students who did the grunt work. Regardless, I do recommend the book to you as an interesting and often surprising exposition of how our Constitution survived the throes of birth. As Klarman says of our pantheon of founding heroes:“In the book, I try to tell the story of the Constitution’s origins in a way that demystifies it. The men who wrote the Constitution were extremely impressive, but they were not demigods; they had interests, prejudices, and moral blind spots. They could not foresee the future, and they made mistakes.”This is Klarman’s raison d’etre for writing the book. His admonition is that the men and they were all white, Anglo Saxon, Christian men, who struggled for six months in Philadelphia in 1789 to create the United States were just men, not gods. Some of them owned slaves, some did not. Some were from populous states, others were not. But they were all mere mortals with virtues and defects.The underlying message of the book is that if those men could find a way to overcome their political and philosophical divisions, we and future Americans should also be able to. For example, in our current culture wars where President Trump alleges Ukraine helped Secretary Clinton in the 2016 election and Clinton alleges Russia helped Trump and more recently both Trump and Clinton and many others are flinging arrows in all directions alleging our leaders are “foreign assets” we should just chill. If James Madison and the Federalists and Thomas Jefferson and the anti-Federalists could reach compromises, we should be able to also.The salient issues and the thorniest were how could our Founders apportion representation among populous and less populous states, how was slavery to be addressed (or not) and could common citizens be trusted to govern themselves.According to Klarman, as our Framers struggled to hold the Constitutional Convention together with the Federalists and the anti-Federalists, “Questioned their opponents’ motives and attacked their characters, appealed to the material interests of voters, employed dirty tricks and made backroom deals when necessary.” Sound familiar?Okay, you probably are choosing to go sort your socks rather than to hear any more from Professor Klarman or from me. But a word of caution, Gentle Reader, if I have had to experience the joys of all the almost 900 pages of Constitutional history, you may have the same opportunity in next week’s column. We might even delve into the vicissitudes of whether the United States Supreme Court is truly independent or are its decisions as politically based as those of the other two Branches?For more Gavel Gamut articles go to www.jamesmredwine.comOr “Like” us on Facebook at JPegRanchBooks&KnittingFacebookTwitterCopy LinkEmailSharelast_img read more

first_img FacebookTwitterLinkedInEmailPrint分享Live Mint:NTPC Ltd will help Mali develop a 500 MW solar power park, a statement by the state-owned power generator said Wednesday. India’s largest power generation utility has been awarded the project management consultancy contract by the West African nation, making it the second country after Togo to do so.This comes in the backdrop of Indian state-owned firms including Solar Energy Corporation of India’s plan to land overseas business under the aegis of International Solar Alliance (ISA), as China continues to co-opt countries into its ambitious One Belt One Road initiative.According to information reviewed by Mint, of the 500 MW solar park capacity, 450 MW will be connected to Mali’s national power grid.With an installed capacity of 62 GW, NTPC is targeting similar contracts to help set up 10 giga watt (GW) capacity in ISA member countries, NTPC said in the statement. NTPC accounts for nearly a fifth of India’s installed power generation capacity of 370 GW.ISA is the first treaty-based international government organization headquartered in India and is increasingly being viewed as a foreign policy tool. Its strategy is to leverage the demand from the member countries to reduce costs by aggregating the demand from member nations and then call for tenders. It has aggregated demand for solar pumps, rooftops, mini-grids, parks and home systems that require around $5 billion of financing requirement.“Solar parks are being showcased as a best practice from India which had started solar parks as a novel concept and has commissioned a number of projects, thus bringing down cost of solar energy substantially, bringing in investment, creating employment and benefitting the environment in the process,” the statement said.[Utpal Bhaskar]More: NTPC to help Mali develop 500 MW solar park India’s NTPC tapped to help Mali develop 500MW solar parklast_img read more

first_imgThe Catawba River was recently named the most endangered river in the country. It stretches from the mountains of North Carolina to the Wateree Watershed in South Carolina and then to the Atlantic Ocean. From source to sea, it flows over 400 miles. Along the way, it meets several challenges: coal ash ponds, dams, agricultural draws, nutrient and sewage spills and recreation and drinking water needs for a growing population.One man is working to protect the river. His name is Rick Gaskins, a Harvard educated environmental lawyer and the executive director of the Catawba Riverkeeper Foundation.Just how bad is the Catawba currently?In 2008, American Rivers, an organization that works to protect America’s waterways, rated the Catawba as America’s Most Endangered River (download the PDF report here). Plus, just this year, American Rivers rated the Catawba as the fifth worst river in the United States due to coal ash pollution. In 2010 and 2012, The Southern Environmental Law Center, a nonprofit that uses the law to fight for protection of the Southeastern environment, listed the Catawba River as one of the top ten endangered places in the Southeast.  In 2011, the Union of Concerned Scientists, an organization that uses science to push for policy change, found, due to power plants, that the Catawba was the fourth most stressed river in the United States.Which sections of the Catawba are in the worst shape? That is hard to answer. If the standard is whether the Catawba is fishable, for example, then one hundred percent of the basin fails to meet the unrestricted fishability standard. There are fish advisories throughout the Catawba basin for excessive levels of mercury in some types of fish. Burning coal is the primary source for most mercury found in the water. High levels of mercury affect the neurological development of children and can cause learning disabilities and other lifelong disabilities. High levels of mercury are especially toxic to children and pregnant women.Is the river getting better or worse? There is some improvement. For example, Charlotte has worked hard to restore the natural state of the tributaries to the Catawba, even instituting buffer areas. Also, some sewage plants are doing better treating sewage. However, the overall trend is not good.Do you ever use litigation to help protect the Catawba?At times we use litigation to solve issues, but that is our last resort. Our first step is to talk to the source of the problem.  If the source does not correct the issue, then we contact the appropriate regulatory body, hoping for an enforcement action.We’re currently involved in litigation against the North Carolina Department of Transportation to stop a proposed toll road that would potentially damage water over discharges from coal ash lakes into Mountain Island Lake, part of the Catawba River. This discharge is a direct threat to Charlotte’s drinking water.How about lobbying legislators? We aren’t large enough to have paid lobbyists, but we encourage members to use grassroots lobbying. We get information to our volunteers so they can talk to their legislators. When there is a bill that directly affects the waterway, then the foundation might rent a van and take volunteers to their legislators in Raleigh.Is it true that the Catawba could run out of water?Current projections are that the region’s demand for water will exceed our quantity of water by the year 2048. Industry and agriculture must use less water. Forty-eight percent of the water consumed from the Catawba is used for cooling power plants. This can and should be reduced. Also, a big chunk of the water is consumed by towns outside the basin. In short, these towns want water from the Catawba River, but they don’t return water to the Catawba. This must be regulated.What are the biggest threats to the Catawba? Coal-burning power plants and their coal ash waste storage. On any scale, coal ash ponds surrounding the Catawba are given the highest hazard potential. Other major water quality problems are by-products of poor development practices that result in large amounts of polluted storm water, poor treatment of sewage, and excessive water usage. Sewage spills and inadequate treatment of sewage are also a major problem. Sewage systems fail with regularity. State regulators are underfunded; one inspector might be responsible for thousands of sites. And even when current regulations are enforced, they are not enough to maintain a high level of water quality.How do dams affect the river and its natural environment?  There are 14 dams along the length of the Catawba.  These are primarily used to generate electricity and to create a source of cooling water for thermoelectric power plants. Power plants use the water for cooling, then they dump hot water into the Catawba after using it.There are sections of the Catawba that rest between two power plants, one upstream and one downstream. During peak power usage this particular section will have little to no water flow. In fact, it might have backward flow if the power plant upstream is larger than the plant downstream.last_img read more

first_imgThe three-day program ends on Saturday, Sept. 22 at 11 a.m., with the opening of the exhibition “Architects of Defense: Profiles of the authors of the 16th and 17th century Šibenik fortifications”, organized and performed by the Department for Cultural and Historical Heritage of the Fortress of Culture. The exhibition will be set in the museum room of the Fortress of St. Mihovil, and will present 11 military experts in the Venetian service during the early modern century who contributed to the construction of the Šibenik fortification system. On the same day, an educational program for children through a workshop will be held at the Barone Fortress, starting at 10 am  “Forgotten weapon” where small and cheerful participants will meet, see, touch and try out the typical weapons used in Šibenik fortresses through different historical epochs.  Immediately after follows “Portrait of old Šibenik” , a workshop that will show the award-winning documentary Barone with the theme of everyday life in Šibenik in the 17th century and turbulent events in the city during the Candian War, after which the youngest participate in a knowledge quiz.The workshops are suitable for ages 6 to 12, and the number of participants is limited. You can apply by email at [email protected] the last day of the program, visitors will have free entrance to the Šibenik fortresses. As part of the celebration of the European Fortress Day, which is being held this year at the Šibenik fortresses of St. Michael and the Baron, representatives of the organizers of the Public Institution Fortress of Culture Šibenik presented the publication “Šibenik: Fortress City” and thus announced the beginning of a rich three-day program conducted under the auspices of the Ministry of Culture of the Republic of Croatia, and held from September 20-22, 2018.Fortress of Culture has joined the initiative to mark the European Fortress Day, launched by the European Network of Fortified Cities and Defense Fortifications EFFORTS, within which the Institution is a member. Launched on the occasion of the European Year of Cultural Heritage, the initiative in its first edition aims to present fortifications across Europe as a place to promote the diversity of cultural heritage to the general public.The publication “Šibenik: City of Fortress”, published by the Fortress of Culture Šibenik, was explained in more detail by Josip Pavić, expert associate of the Department of Cultural and Historical Heritage, emphasizing that it is a guide for the general public. early modern age.”In the last few years, for obvious reasons, fortresses have been in focus again, and as a result, a lot of archaeological, historical and conservation research has been carried out, not only in Šibenik but also in its surroundings. This short edition summarizes what we currently know, but does not represent the final point because we will, of course, continue our research intensively. ” said Josip Pavic.The central part of the program, International Conference “Audience Development and Cultural Management: New Concepts for New Models”, will be held on Friday, September 21 at the Fortress of St. Mihovila. The importance of the topic of audience development, cultural management and contemporary trends was emphasized by the director of the Fortress of Culture, Gorana Barišić Bačelić, with an emphasis on the Club of Friends of Šibenik Fortress as an example of good practice.”We are extremely pleased to have joined the initiative to mark the European Fortress Day, which includes an International Conference with a significant number of registered participants. Audience development, as one of the most current topics of management in culture,  one of our long-term goals by which we want to continue to develop professional and public dialogue on the development of cultural audiences by organizing similar public gatherings, programs and projects. This is just one step in everything we plan in the coming years.”Pointed out Gorana Barišić BačelićExperts in the field of cultural management, museology and communication, including EFFORTS board member Andrea Bonifacio, will present contemporary trends in audience development and best practices for incorporating monumental heritage into the daily lives of local communities. After the presentation, participants and exhibitors will have the opportunity to participate in an interactive panel discussion.Program of the International Conference “Audience Development and Cultural Management: New Concepts for New Models”last_img read more

first_imgIt marks a clarification of the position of the FSB, which, in late 2013, would not be drawn on whether pension funds would be classified as systemically important.Its 2014 consultation on non-bank institutions also did not directly address the status of the pensions industry.The consultation, which will run through the end of May, asked respondents to explain why pension funds should be excluded or, alternatively, if the risks associated with the failure of a pension fund should warrant their inclusion as systemically important entities.Mark Carney, chairman of the FSB and governor of the Bank of England, said the second consultation was an important step towards identifying those NBNI bodies deemed too big to fail.“It will also enhance authorities’ understanding of the risks to global financial stability posed by the activities of entities in financial markets, including the distress or disorderly failure of non-banks and non-insurers,” he said.However, pension funds could still be affected by new layers of regulation through their involvement with larger asset managers, with the consultation suggesting there could be an absolute threshold of $100bn (€92bn) in assets to trigger a manager’s inclusion.“In addition to ‘size’, the FSB and IOSCO also considered the possibility of setting additional materiality thresholds based on ‘global activities (cross-jurisdictional activities)’,” the consultation said.“However, since data regarding the international activities of NBNI financial entities are often not disclosed or reported to the relevant authorities, the FSB decided not to set additional materiality thresholds based on ‘global activity’.”An absolute threshold based on assets under management could also impact a number of pension funds through their ownership of large asset managers, such as ABP’s ownership of APG and several large Dutch schemes’ stakes in MN.Cecile Sourbes explores whether a pension fund can be too big to fail,WebsitesWe are not responsible for the content of external sitesLink to FSB consultation on NBNI entities of systemic risk to financial system Pension funds are not to be classed as systemically important financial institutions but could still be subject to increased regulatory burdens proposed for ‘too big to fail’ asset managers.A consultation by the Financial Stability Board (FSB) and the International Organization of Securities Commissions (IOSCO) on which non-bank, non-insurer global institutions should be classed as systemically important financial institutions (NBNI G-SIFIs) suggested that pension funds could be excluded.It said pension funds posed a low risk to “global financial stability and the wider economy due to their long-term investment perspective”.The FSB’s paper also suggested pension funds were likely to be captured by additional regulation due to their relationship with asset managers but sought advice on whether the reasons for excluding the industry as a whole were sound.last_img read more

first_imgFalling forward · The football team wrapped up a drama-free spring offseason with their Spring Game at the Coliseum. USC will open their regular season play against defending national champion Alabama on Sept. 3. – Joseph Chen | Daily TrojanIt’s been a quiet spring for USC football. Tame, relaxed, uneventful, I’d almost go so far as to say, boring.With spring semester classes wrapping up, and with summer just around the corner, it’s finally time to really start thinking about football. The fact that USC football hasn’t been dominating the headlines the past couple of months might be a sign that hype going into next season isn’t quite at the level where it usually is. And to some degree, maybe this is indicative of the fact that this won’t be the best year of USC football in recent memory.The relative lack of attention on the program so far is honestly a good sign if you ask me. Finally, the program is moving away from the expectation and pressure that for the last decade has only ended in underachievement and disappointment. This year, we’ll actually just get to see a group of guys playing football, and the rest will take care of itself.When looking back on last season, it’s important to remember that beyond all the off-the-field, program leadership issues, the 2015 season was a small step forward, not backward for the program. Despite six losses during the campaign, the Trojans nonetheless officially won the Pac-12 South for the first time ever.For the record, I still count the 2011 season — when the Trojans embarrassed UCLA with a 50-0 thrashing in the regular season finale, and the Trojans finished atop the Pac-12 South standings in the inaugural year of the Pac-12 conference championship game, but UCLA nonetheless got the invitation as the Pac-12 South representative due to USC’s postseason ineligibility — as the first time USC actually won the South division.But for the following three seasons, USC fell short of a relatively doable expectation. UCLA represented the South the next season, then Arizona took the South crown in 2013 and 2014. It was an obvious sign that there was now competition not just on the North half of the conference with Stanford and Oregon, but also in our own backyard with UCLA and the Arizona schools.So for USC to finally get back on that pedestal — a small, six-team pedestal, but still an important and competitive one — was an important step forward for the program, and something we Trojan fans should keep in perspective when thinking about the upcoming year.Of course, there was plenty of drama surrounding the program last year. This year’s team won’t exactly be building off the same foundation that got to that Pac-12 South championship last year. As has been discussed plenty of times throughout this academic year, this will be Clay Helton’s first full season after his promotion from the interim head coach to the long-term program head.The challenge of keeping a group of players motivated over the course of an entire season is certainly a different challenge than bringing a group of guys together in the middle of the season after some off-the-field drama. In fact, it might have even been easier for Helton to have gotten the team to rally around him through all the turmoil of the coaching uncertainties, especially if some of the players felt like they were playing to win him the job.Now his task is to keep everyone not just committed, but also focused over an entire season. The hardest part for Helton might not be motivating everyone to get up to play Alabama. Anyone with a pulse will be pumped up going into that game. I’m already pumped up about the chance to bring down the defending national champions, and that game isn’t for another four-and-a-half months.The true challenge is keeping everyone focused for the grueling conference slate, and making sure that the Trojans bring their A-game every game, not just for the big ones.And so far, it seems like the Trojans are on the right track. Of course, it’s still way too early to make any real projections. We still don’t know for sure who will be the quarterback, what the rest of the competition will look like or how any of the new recruits will fare in their first year of college ball.But the fact that we’ve already made it one semester without any real drama is a great sign. No players jumping into pools to rescue drowning family members, no overhyped recruiting class on signing day, no profanity-laced alumni dinner speech that made the headlines on both ESPN and Total Frat Move.Granted, highly rated prospects aren’t a bad thing, and maybe the Trojans do need to get back on top in the recruiting game. But for now, the pressure is low, and the expectations are manageable.Does this team have an upset against the Crimson Tide inside of it? Probably not, but looking at the overall season, that game is not that important. What matters is that the Trojans can stay focused, keep their eye on the prize all of the conference slate, try to make it back to the Pac-12 Championship and go from there. There will be plenty of hype to go around if and when Helton can get back there in his first season.Luke Holthouse is junior majoring in policy, planning and development and print and digital journalism. His column, “Holthouse Party,” ran on every other Wednesday.last_img read more

first_imgA local World War II veteran from Tequesta was honored for his service on Friday.Robert “Bobby” Hallock, 97, accompanied by his family, was given a Quilt of Valor during a ceremony held at the Tequesta Terrace Assisted Living facility, where he currently resides.He said having his family by his side was “the best thing that has ever happened to me in a long while,” and that he plans to pass the Quilt of Valor on to his grandchildren.The high honor was presented by The Palm Beach Patriotic Quilters, a chapter of the Quilts of Valor Foundation.The Quilts of Valor Foundation is a non-profit charity organization dedicated to all service members and veterans.The Foundation’s mission is to cover service members and veterans touched by war with “comforting and healing” Quilts of Valor.Hallock who served overseas in the U.S. Army Air Corps as a gunner and radio operator said it was the first time he was recognized for his service.Watch the ceremony below.The local chapter who regularly handcrafts and presents heirloom-quality quilts to local veterans as thanks for their service are recipients of the 2019 Tequesta Terrace’s Good Neighbor Award which comes with a $1,000 check.The award acknowledges the significant work of local organizations that give back to the greater community.The Palm Beach Patriotic Quilters were chosen for the award as a result of the group’s dedication to carrying forth the mission of the Quilts of Valor Foundation.To request a quilt visit the Quilts of Valor website.last_img read more