CBS NEWS JEFFERSONVILLE, Ind. — Tornadoes have left widespread damage in southern Indiana and a sheriff's official says at least one town of about 1,900 people is "completely gone." National Weather Service coordinator Bill Whitlock there's "extreme damage" in the area of Henryville, a town of about 3,000 people just north of the Kentucky border. Destruction can be seen for miles and a school district spokeswoman says heavy damage has been reported at Henryville High school. Clark County Sheriff's Department Maj. Chuck Adams says the nearby town of Marysville is "completely gone." Indiana Department of Homeland Security spokesman John Erickson says there are injuries but no immediate reports of fatalities. Officials say they've had difficulty confirming reports due to downed power and telephone lines. … [Read more...]
MSNBC Live Coverage of Tornado Outbreak
http://www.msnbc.msn.com/id/32545640Visit msnbc.com for breaking news, world news, and news about the economy … [Read more...]
Inside Banking: DC Banks earnings, FHFA reconsideration, and Shareholders first
Donny Wise: DC Consumer Banking: Examiner.com - The health of the banking industry is at the forefront in the consideration of a sustainable economic recovery. In addition, the health of the industry can be measured through performance, market indicators including foreclosures and housing, and corporate responsibility of banks to implement business models and strategies to foster a safe and prepared industry. The local indicator in DC banking is the recent report in the Washington Business Journals stating that earnings were up for the 40 local banks in the fourth quarter of 2011. The market indicator is the recent urgent request by lawmakers for the FHFA to follow reconsideration mortgage loans to assist homeowners underwater in a mortgage loan. Third, the reckless behavior of the banks are still alive in the current economic uncertainty as banks were allowed to pay $33 billion in dividends to shareholders, and this move was allowed by the Federal … [Read more...]
Banking and Consumer: The spread of prosperity
The post-World War II era was a very different America from the America of the 1930′s. In the 1930’s, The Great Depression was a period of economic decline, rampant unemployment, and despair that defined America. In 1945, The Great Depression was replaced with the United States becoming economic superpower because of World War 2. In 1945, soldiers were coming home in the millions to a technologically advanced society because of the war. These soldiers started families, and these new families needed houses for a permanent place of residence. In addition, the new conveniences of the automobile, home appliances, and televisions were a part of the new post 1945 world. Both homes and new conveniences were affordable but required financing to make affordable payment options to the masses of people. As the country changed from the Depression to the post 1945 era, the banks were required to change due to a new regulatory environment and the creation of the Federal Deposit Insurance … [Read more...]
First Friday: News of the odd and weird
Happy First Friday! It is Friday, and life cannot always be filled with news of a stuffy world. The other side of the news is the weird, stupid, and even oddity in news. The following items are some stupid news items from across the web. A little fun can never hurt on a First Friday.....Enjoy! ODD STORY ONE OF THREE: 'Creepy' dad pawned gold teeth he took from cremated remains: police Father of eight says he sifted through ashes, took teeth to provide for his family, authorities say Comments (13) By Michael Sheridan / NEW YORK DAILY NEWS Wednesday, February 29, 2012, 7:25 AM Police Handout Adrian David Kline, 43, is accused of providing false information regarding gold teeth he took from cremated remains at several funeral homes, police say. A "creepy" Colorado father accused of pawning gold teeth he took from cremated remains at several funeral homes claims he did it to provide for his eight children, police said. Police said Adrian David Kline also … [Read more...]
A remedy for long-term unemployed after Fed official warning
Donny Wise: National Unemployment: Examiner.com-Federal Reserve Chairman Ben Bernanke did nothing less than to sound the alarm bells on the impact of chronic long-term unemployment to the country’s growth potential and pool of available skilled workers. The impact is negative as the chronic long-term unemployment has taken away growth potential away from the US economy, and the loss of skills will continue among the long-term unemployed if the unemployment crisis continues with the potential loss of skill set to be permanent. In addition, jobless claims did drop last week, but the outlook for the job market remains uncertain as a hazy economic picture emerges under pressure of higher gas prices and Europe’s debt crisis. With the recovery in the job market far from certain, should community job programs to assist the long-term unemployed with skill sets and job search services to ensure a chance of this group a return back into the mainstream workforce? In the new economic … [Read more...]
Bank of America’s “stay the course” banking model
Donny Wise: DC Consumer and Banking: Examiner.com-Bank of America has made one truth evident this week in lieu of recent news about dealings with Fannie Mae and New Bank Fees being considered by the bank. The one truth at Bank of America is the stubborn resistance for the bank to pursue fundamental change, and the stay the course motto is alive and well albeit the same policy has brought the bank to the edge of the abyss. The foreclosure fiasco with Countrywide has brought enormous losses to the bank, and future losses and litigation costs threaten to undermine the future of the bank In addition, the public relations nightmare has haunted Bank of America as the public has made the bank public enemy number one in the bank blame game for excessive fees and foreclosure crisis. In lieu of these issues, the survival of the bank would constitute change in practice or behavior, but the news show a bank determined to “stay the course” to meet some internal goal with … [Read more...]
