Source: http://news.feedzilla.com/en_us/stories/politics/top-stories/193457464?client_source=feed&format=rss
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Tuesday, January 31, 2012
Thursday, January 26, 2012
Joe Paterno buried after thousands pay vigil (Reuters)
STATE COLLEGE, Pennsylvania (Reuters) ? Former Penn State football coach Joe Paterno was buried in a private ceremony on Wednesday after tens of thousands of mourners paid vigil in frigid weather as his hearse was carried from a closed funeral.
Paterno, 85, who died of lung cancer on Sunday, was head coach at Penn State for 46 years, and won more games than any other major-college football coach and two national championships.
But he was fired in November after a former assistant coach, Jerry Sandusky, was charged with serial sex abuse. University trustees dismissed Paterno because he failed to tell police what he had been told about the alleged abuse.
Tens of thousands of people lined the street outside the campus Pasquerilla Spiritual Center in State College, Pennsylvania, in response to a campaign on Facebook to "Guide Joe Paterno Home," forming a gantlet covering much of the mile and a half to Penn State's football stadium.
"It shows how much of an icon he was and how many hearts he touched directly and indirectly," said Christina Flanaghan, 21, a third-year student at Penn State.
Nine pallbearers including son Jay Paterno carried the casket out of the spiritual center to a hearse that drove through town to a final resting place, which was kept secret.
"Thank you to all the people who turned out for my father's procession. Very moving," Jay Paterno wrote on Twitter.
Among those attending the funeral was former quarterback Mike McQueary, who as a graduate assistant in 2002 told Paterno he walked in on Sandusky molesting a boy in the showers.
Paterno told university officials but not police.
Sandusky, 67, who maintains his innocence, faces 52 criminal counts accusing him of molesting 10 boys over 15 years, using his position as head of The Second Mile, a charity dedicated to helping troubled children, to find his victims. The court has placed him under house arrest.
Also attending the funeral was former Penn State and Pittsburgh Steelers running back Franco Harris, a pro football Hall of Famer who was perhaps the biggest star to play for Paterno.
Some 27,000 mourners passed by Paterno's closed casket for a viewing on Tuesday and 10,000 others on Wednesday, said Bob Smith, director of the Pasquerilla Spiritual Center.
Among the final mourners was actor Billy Baldwin, who did not attend Penn State but attended many wrestling matches there in the 1980s. During that time, he said, he got to know Paterno, and had dinner at the Paterno home.
"I can't use words to describe the enormous, immense level of respect I have for the guy," Baldwin said.
(Reporting by Dave Warner; Writing by Daniel Trotta; Editing by Cynthia Johnston and Peter Cooney)
Source: http://us.rd.yahoo.com/dailynews/rss/us/*http%3A//news.yahoo.com/s/nm/20120126/us_nm/us_usa_paterno
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Wednesday, January 25, 2012
Orman, Finance Experts Hawk Cards And Calendars. But To Help ...
5:00 pm, January 25th | by Hillary Reinsberg
By most measures, Orman?s card, officially called The Approved Card From Suze Orman, is no different from other prepaid debit cards, which aren?t much more than glorified gift cards that happen to carry irritating fees. Various iterations are sponsored by a bevy of not particularly trustworthy celebrities, like Lil? Wayne, a 29-year-old rapper who is addicted to cough syrup. The one thing that separates Orman?s card is that unlike other debit cards, it reports to TransUnion, one of the country?s three credit agencies.
And Suze Orman thinks you?ve gotta have it. Problem is: almost no one else agrees. Partly because of the fees, and partly because prepaid debit cards are typically shunned by financial experts.
?Given the fact that she has endorsed avoiding fees throughout her career as a financial guru, it?s ironic that the exception she would make would be her own financial product,? wrote Fox Business??Gerri Willis in an email to The Jane Dough. Willis, the host of the Willis Report on FOX Business Network, has devoted some reporting on recent episodes to a kind of takedown of Orman?s card. ?Worse, with Suze in the financial product business, you have to wonder about just how independent her financial advice can be. When is she giving you her best advice and when is she pushing her product? We don?t know,? she added.
Across the board, the opinions are pretty much the same: Orman?s card isn?t criminal or even sleazy per se, but it goes against the kind of financial advice she makes a living off dispensing.??It?s not a bad card.?The problem is it?s not a great card either. It?s just a very typical prepaid card. And quite honestly, I think Suze could do a whole lot better for her fans,? Gerri Detweiler, a personal finance expert at?Credit.com, told MSNBC.
Her most outspoken fans agree they deserve better. But Suze doesn?t agree. ?Suze?s card has already damaged her brand. Just look at the online commentary from fans ?? they are perplexed by this and many are angry,? Willis added. ?Suze hasn?t helped herself by calling some of them idiots.?
Hearing that Orman called her fans idiots isn?t exactly a surprise. Orman?s known for her on-air badgering, though it is usually best described as a kind of loving aggression. She wants to help, but she?ll slap you on the behind to tell you that. Where Orman is the platinum blonde voice barking in your face about how stupid you were at 9 p.m., Chatzky is the kind, gentle and friendly brunette 9 a.m. version. On her regular Today show appearances, Chatzky doles out tips on how to cut back on your spending and how to ?pay down? your debt. It is less intrusive, less in-your-face.
But it is not free.
Just this week, Chatzky announced a line of personal finance tools to be retailed at Office Depot. While they won?t break the bank, I?m not sure they?ll help your savings account much either. A Chatzy-branded kid?s chore calendar for $13.99 seems a little superfluous, but there are also items like an expense planner and a tax checklist portfolio.
Chatzky?s products don?t have critics up in arms. ?What Jean is selling is a way of tracking your bills and expenditures in calendar form, plus her tips for financial management,? Willis told us. ?I don?t see this as fundamentally different from her books, but only an extension of her long-form advice. Were Jean to offer a financial product, the Jean Debit Card or the Jean mutual fund, I?d feel differently.?
Chatzky hasn?t created a mutual fund, but last year she did introduce two products:?the JeanChatzky Score Builder and another service called?Pay It Down!, both Internet tools to analyze and build your credit. They both cost money ? $19 a month and $30 a year, respectively. According to a?The New York Times report at the time, users were able to see a 40 point bump by using the products. That?s nice ? but it?s unlikely to tip the scales on securing that loan.
The general consensus seems to be this: financial tools don?t have to be free, but they?d better be honest.
As Caryn Effron, the founder of GoGirl Finance, a website that advocates financial literacy for women put it: ?If an expert is advocating financial literacy through a commercial partnership, I?m in favor of it as long as it?s also a win for the consumer.?
As far as we can tell, your local Office Max does accept the Orman card.
Source: http://www.thejanedough.com/suze-orman-debit-card/
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EU ministers push bondholders in Greek deal
Greek Finance Minister Evangelos Venizelos, left, speaks with Luxembourg's Prime Minister and head of the eurogroup Jean-Claude Juncker during a meeting of EU finance ministers in Brussels on Monday, Jan. 23, 2012. European finance ministers will try on Monday to give new momentum to talks on a Greek debt relief deal that is crucial to avoid a default, but a European diplomat warned that a final agreement may have to wait until a leaders' summit next week. (AP Photo/Virginia Mayo)
Greek Finance Minister Evangelos Venizelos, left, speaks with Luxembourg's Prime Minister and head of the eurogroup Jean-Claude Juncker during a meeting of EU finance ministers in Brussels on Monday, Jan. 23, 2012. European finance ministers will try on Monday to give new momentum to talks on a Greek debt relief deal that is crucial to avoid a default, but a European diplomat warned that a final agreement may have to wait until a leaders' summit next week. (AP Photo/Virginia Mayo)
Belgium's Finance Minister Steven Vanackere, right, speaks with Luxembourg's Prime Minister Jean-Claude Juncker during a meeting of EU finance ministers in Brussels on Monday, Jan. 23, 2012. European finance ministers will try on Monday to give new momentum to talks on a Greek debt relief deal that is crucial to avoid a default, but a European diplomat warned that a final agreement may have to wait until a leaders' summit next week. (AP Photo/Virginia Mayo)
Irish Finance Minister Michael Noonan, right, speaks with Luxembourg's Finance Minister Luc Frieden during a meeting of EU finance ministers in Brussels on Monday, Jan. 23, 2012. European finance ministers will try on Monday to give new momentum to talks on a Greek debt relief deal that is crucial to avoid a default, but a European diplomat warned that a final agreement may have to wait until a leaders' summit next week. (AP Photo/Virginia Mayo)
French Finance Minister Francois Baroin, right, speaks with European Central Bank President Mario Draghi during a meeting of EU finance ministers in Brussels on Monday, Jan. 23, 2012. European finance ministers will try on Monday to give new momentum to talks on a Greek debt relief deal that is crucial to avoid a default, but a European diplomat warned that a final agreement may have to wait until a leaders' summit next week. (AP Photo/Virginia Mayo)
Greek Finance Minister Evangelos Venizelos, right, speaks with Italian Prime Minister Mario Monti during a meeting of EU finance ministers in Brussels on Monday, Jan. 23, 2012. European finance ministers will try on Monday to give new momentum to talks on a Greek debt relief deal that is crucial to avoid a default, but a European diplomat warned that a final agreement may have to wait until a leaders' summit next week. (AP Photo/Virginia Mayo)
BRUSSELS (AP) ? European finance ministers piled the pressure on Greece's private creditors Monday to reach an agreement with Athens to cut the country's massive debt load, with the Dutch representative warning bondholders that they may be forced to take losses.
Time is running out for Greece to reduce its debt by some euro100 billion ($129 billion) and avoid missing a vital bond repayment deadline. Talks between the country and representatives of banks and other investment firms to secure a deal hit an impasse over the weekend.
The deal would involve private creditors swapping their old Greek bonds for ones with a 50 percent lower face value. The new, lower priced bonds, would also have much longer maturities ? pushing repayments decades into the future ? and will pay a much lower interest rate than Greece would currently have to pay on the market.
It's clear that Greece needs some form of deal soon ? it faces a euro14.5 billion ($19 billion) bond repayment on March 20, which it will be unable to afford if the bond swap doesn't go through.
The Greek government and representatives for the private creditors said they are moving closer to a final deal. But any agreement also has to be signed off by the other 16 countries that also use the euro as their currency and the International Monetary Fund, who have made the deal a key condition of the country winning any further bailout loans.
Greece has been surviving on a first euro110 billion ($142 billion) batch of rescue loans since May 2010, which were conditioned on deep spending cuts and sweeping public sector reforms.
At the center of the debate is the interest rate that Greece will have to pay on the new, lower-valued bonds. The interest rate is key not only to determining the overall losses for the bondholders but also to whether the deal will work.
If the interest rate is too high, a second, euro130 billion ($168 billion) bailout for Greece may not be enough to put the country back on its feet. The other eurozone states and the IMF would have to provide more loans, but they are unwilling to do so.
But if they are too low, the losses for bondholders will become so high that it will be difficult to get them to agree voluntarily to a deal.
Dutch Finance Minister Jan Kees de Jager indicated that the eurozone may be moving away from its previous insistence that investors will not be forced to take losses.
"We've never pushed for a default, but we've never said it (a restructuring) must be voluntary," de Jager said as he arrived for a meeting with his eurozone counterparts in Brussels. "Our goal is a sustainable debt. It has our preference if it's voluntary, but it's not a precondition for us."
Greece needs to secure a deal quickly if it wants to avoid a disorderly default on March 20.
"Given that any debt swap deal will involve a lot of lawyers, it is estimated that around 5 weeks are needed between agreement and the bond maturing to prevent default," said Louise Cooper, markets analyst at BGC Partners. "This does not leave much wriggle room, although such pressure must focus the minds of all at the negotiating table."
A forced restructuring would likely trigger payouts on so-called credit default swaps ? a contract traded between banks and other investment firms that want to insure against potential defaults. Because the market in CDS is obscure ? with no clear data on who would owe whom how much ? the eurozone fears that a payout could lead to turmoil on financial markets similar to what happened after the collapse of U.S. investment bank Lehman Brothers in 2008.
Although officials, including the French and Greek finance ministers, insisted that a deal was in the making, few expected a final agreement ahead of a key summit of EU leaders next Monday. De Jager suggested that negotiations may even drag on beyond that.
Greece's economic problems kicked off Europe's debt crisis more than two years ago and the continent's inability to resolve its troubles have raised concerns about other highly indebted countries. But positive bond auctions in Spain, Italy and France last week have eased some concerns about the region's bigger economies and have lifted stock markets and the value of the euro.
Ministers will also seek to put the finishing touches on their permanent bailout fund ? the euro500 billion European Stability Mechanism ? which is scheduled to come into force this year. They will also discuss a new intergovernmental treaty designed to keep eurozone countries from overspending.
___
Greg Keller in Paris and Nicolas Paphitis in Athens contributed to this story.
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Tuesday, January 24, 2012
Gaming Everything ? Blog Archive ? Gust unveils new game
January 23rd, 2012 Posted in News, Vita
Posted By: Valay
Gust has been hinting at a new title on its website and in Dengeki PlayStation. Today, the title has been revealed in the Japanese gaming magazine following several days of teasing.
The developer behind the Atelier and Ar tonelico series is currently working on a project known as ?Sarge Concerto?. This will be the company?s first title for Vita.
Thus far, we?ve been able to determine that Sarge Concerto will incorporate significant online functionality. Some Japanese forum goers are wondering if all of the gameplay will be online only.
It also seems that Sarge Concerto won?t be an RPG unlike the company?s previous games.
Rumor has it that certain womanly features will be ?highlighted? in the experience. I?m sure you folks know what I?m referring to!
According to Dengeki PlayStation, Gust?s new project will arrive in Japan on April 26.
Source: http://gamingeverything.com/14304/gust-unveils-new-game/
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Video: Mobster?s ex-flame tells her side of the story
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Source: http://www.msnbc.msn.com/id/21134540/vp/46081750#46081750
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