FRIDAY, AUGUST 6, 2010

Multi-Millionaires and Billionaires Do End Run Around on FDIC Limitations on Insurance Coverage, with the Blessing of the FDIC

FDIC insurance on a per bank basis is capped at $250,000 per account. The idea behind this cap is that large investors, multi-millionaires and billionaires, will have some exposure to loss of their funds if the bank they put their money in goes under. This is viewed as a check on bank excess risk, since a bank would not be able to attract large sums of money if multi-millionaires and billionaires feared the risk being taken at a given bank and did not put their funds with such a bank.

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FRIDAY, AUGUST 6, 2010

Multi-Millionaires and Billionaires Do End Run Around on FDIC Limitations on Insurance Coverage, with the Blessing of the FDIC

FDIC insurance on a per bank basis is capped at $250,000 per account. The idea behind this cap is that large investors, multi-millionaires and billionaires, will have some exposure to loss of their funds if the bank they put their money in goes under. This is viewed as a check on bank excess risk, since a bank would not be able to attract large sums of money if multi-millionaires and billionaires feared the risk being taken at a given bank and did not put their funds with such a bank.

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• • By Damian Paletta

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Bradley Manning: An American Hero - by Stephen Lendman

Manning, of course, is the courageous Army intelligence analyst turned whistleblower, who admitted leaking:

-- "260,000 classified United States diplomatic cables and video of a (US) airstrike in Afghanistan that killed 97 civilians last year," and

-- an "explosive (39 minute) video of an American helicopter attack in Baghdad that left 12 people dead, including two employees of the Reuters news agency" - "collateral murder" he felt obligated to expose.

It got him in trouble. On June 7, the military in Iraq arrested him, saying:

"The Department of Defense takes the management of classified information very seriously because it affects our national security, the lives of our soldiers, and our operations abroad."

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New Transitional Federal Law Provides Health Insurance to Patients with Pre-existing Conditions

Interview with Jennifer Jaff, executive director, Advocacy for Patients with Chronic Illness, conducted by Melinda Tuhus

As part of health care reform law passed last March, federal regulations were issued on July 30 for a new temporary insurance plan in all states for adults with pre-existing medical conditions and no health insurance. Thirty states are inaugurating their own plans, while in the other 20 states' plans will be administered directly by the federal government. Advocates say the new program is a major improvement over the status quo, where such insurance coverage was astronomically expensive and thus out of reach for most of those in need.

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The policy paradigm of the administration was one it inherited from previous administrations.  This was a pro-market, neoliberal approach the key prongs of which were accelerated trade and financial liberalization, deregulation, and privatization.  In addition, Arroyo continued her predecessors’ policy of fully servicing the foreign debt, dealt with the ever-widening budget deficit by imposing a 12 per cent value-added tax that hit mainly the middle class and the poor, and left it to the market to address poverty and income inequality.

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Actually, it is a company Nike Shox Classic that provides the earth footwear first introduced their negative heel shoes in to the market back in 1970s. But there's lots of years of absence of this product. Then they returned with re-produced quality and nice healthy shoes for the public. The shoes are popular as to their great health benefits.

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This weeks guests include University of South Florida's Marine Biology and Science Doctorial candidates Nekesha Williams, Camille Daniels and Sennai Habtes, Caribbean students who are making a difference in marine life. Also, an update on the status of Haiti, and a celebration of the 48th year of Independence of Jamaica.

http://uhurunews.com/radio/?tzoffminutes=240