Australia's Federal Court has ruled that credit ratings agency Standard & Poor's (S&P) misled investors before the global financial crisis.
S&P gave its safest credit rating, AAA, to complex and risky securities, which later lost most of their value.
In what is regarded as a landmark ruling, the court ordered S&P and the bank which arranged the product, ABN Amro, to pay damages to investors.
S&P said it planned to appeal against the decision.
Standard & Poor's misled investors - Australian court
Alex Baer: A Weary Nation
On one side, a hope-and-change machine started up, despite signs of sputtering, stuttering, and stalling out from time to time. But, it always responded well to CPR, then would get right back on track, going down the center of the road.
On the other side, a blockade machine was built. It swerved hard right all the time, otherwise working flawlessly, halting all forward progress with random exclamations of "NO!" and "One term only or else!" and "Over our dead body!"
That was four years ago. Feels more like forty.
Hurricane Sandy’s Unmistakable Message
While politicians play for votes and ignore the evidence of a rapidly changing climate, Mother Nature has made the consequences heartbreakingly clear.
Four days after 24-year old Jake Vogelman was killed by a hurricane-toppled tree, NYPD detectives came to his house with his personal effects: a black leather wallet still wet from the rain and a watch that was still working
Hearing in NC sifts evidence against Army general accused of sex-related crimes, other charges
U.S. Army prosecutors offered the first details of a rare criminal case against a general, alleging in a military hearing Monday that he committed sex-related crimes involving four female officers and a civilian.
A hearing on evidence in the case against Brig. Gen. Jeffrey Sinclair opened Monday at Fort Bragg, home to the 82nd Airborne Division. Officials said the Article 32 hearing, similar to a grand jury proceeding in civilian court, was expected to last at least two days.
Israel 'planned Iran attack in 2010'
Israel's prime minister and defence minister ordered the country's military to prepare for a strike against Iran's nuclear installations two years ago, according to a television documentary.
But the order was not carried out after it met with strong opposition from two key security figures, the military chief of staff and head of the Mossad, claimed Uvda (Fact), broadcast yesterday.
Alex Baer: Please Seek Help if Still Undecided
There's really nothing for it, not at this stage. Propaganda, marketing, and psychological operations have done all they can.
Voters who remain undecided should seek professional assistance as soon as possible to prevent injury from overwrought hand-wringing, or other long-term damage. The rest of us will struggle on and try to do what we think best.
* * * * *
Many will see today as the last full-spectrum day of candidate drum-beating, tambourine-shaking, and stump-smoldering speechifying. There may be a regretful tear at this realization and news.
Removing the green cloak from natural gas
For decades, natural gas (methane) has been touted as a greener energy alternative to coal, when, according to a new Cornell University study, in considering its whole lifecycle, natural gas appears to be worse for climate change than the coal industry and is more toxic to the environment and human health.
The driver of gas' green halo is true: methane burns cleaner than coal, thus contributing less to global warming during combustion. However, the hydraulic fracturing process — the only way industry knows to get the gas that's left — releases significant amounts of methane, unburned, directly into the atmosphere. When methane isn't burned, it's 20 times more potent a greenhouse gas than carbon dioxide. Combine that with the 1,000 truck trips, on average, 2 million to 8 million gallons of water, and 10,000 to 40,000 gallons of chemicals used per well.
Alex Baer: One More Peek, if We Dare Look
Everything you ever wanted to know about the world's most expensive election but were afraid to ask: Here's the tale of the single-most psychotic leadership-selection method, and in the world's most heavily-armed nation -- a country totally unafraid to randomly flex its military and financial might, whimsically, this way or that -- and it can be found right here:
http://www.bbc.co.uk/news/magazine-20163081
It provides a crisp, clear 3-minute view of the infernal inferno of an election process we bright Americans have created for ourselves and then rapidly, placidly accepted -- if we dare look, and if we dare see.
Israelis kill unarmed, mentally unfit Palestinian near Gaza border: medics
Israeli soldiers have shot and killed a Palestinian man who approached a fence near the border with Israel, medics said on Monday.
An Israeli military spokeswoman confirmed the shooting took place after darkness fell on Sunday, saying troops opened warning shots when a man walking west of the border in a riverbed failed to heed orders to leave the buffer area Israel maintains to try and prevent cross-border attacks.
Page 387 of 1139