“Stress tests results published by the ECB in May point to the resilience of the Greek banks in the baseline scenario but significant capital depletions in the adverse scenario,” International Monetary Fund says in Art. IV report on the state of the Greek economy.IMF “staff estimates that if the three banks with lower CET1 were asked to maintain capital ratios under adverse conditions in line with a capital requirement of 7.5–8.0 percent, the related capital shortfall could be in the range of €1.3–1.9 billion”Greek “banks also face significant challenges regarding asset-liability management, as highlighted by systematic ongoing breaches of liquidity requirements”
Tuesday, July 31, 2018
Royal Navy Rescued Manchester Suicide Bomber From War-Torn Libya in 2014
The Manchester Arena suicide bomber who killed 22 people at a concert last year was rescued by the British Royal Navy during the Second Libyan Civil War, three years prior to his deadly attack.
The HMS Enterprise picked up then-19-year-old Salman Abedi and his younger brother, Hashem Abedi, from the Libyan coast in August 2014 when intense fighting escalated in Tripoli, according to the Daily Mail. They were taken to Malta with about 100 other British citizens before catching a flight home to Manchester.
The elder Abedi killed 22 people and injured 139 others at U.S. pop singer Ariana Grande’s concert at Manchester Arena in May 2017 when he detonated a suicide vest in the foyer area of the arena. Seven children died in the attack, with the youngest victim being just eight years old.
"For this man to have committed such an atrocity on UK soil after we rescued him from Libya was an act of utter betrayal," a Whitehall source told the Mail.
MI5 agents were tracking Abedi’s movements in Libya, but they removed him from their watch list one month before his rescue because of "mistaken identity." The Abedi brothers were said to have been on holiday when fighting broke out. They were among 110 British evacuees on a list given to the Royal Navy after the British Foreign Office advised British citizens in Libya to "leave immediately by commercial means" as the nation dissolved into chaos.
British security officials said they did not believe Abedi had become radicalized at the time of his rescue from Tripoli. Violence had intensified around the capital as militia groups battled for control.
"He was a British citizen so it was our job to safeguard him," one source told the Mail. "Salman was one of many people in that mix and we absolutely had to evacuate him."
Hashem Abedi is currently being held in a Tripoli prison by a militia group. He was arrested in Libya following his brother’s attack in Manchester. The British government has attempted to extradite him back to the U.K. to stand trial, but that request has been repeatedly denied.
Bloomberg-Backed Soda Tax Group Cited for Lobbying Violations
Bloomberg-Backed Soda Tax Group Cited for Lobbying Violations
Dark money group made 'material misstatements' on disclosure
A group backed by liberal billionaire Michael Bloomberg to promote Philadelphia's soda tax has been cited for lobbying violations.
Philadelphians for a Fair Future, a nonprofit organization that received roughly $1.5 million from the former New York City mayor who tried to ban Big Gulps, was cited for making "material misstatements" and failing to disclose its lobbyists.
The Philadelphia Board of Ethics announcedlast week the group reached a settlement to pay $8,000 for the violations.
"This agreement resolves violations of the City's Lobbying Law by Philadelphians for a Fair Future for making material misstatements and omissions in a registration and expense report submitted to the Board," the city government said. "The agreement also resolves violations by several lobbyists and lobbying firms for failing to register with the Board."
Philadelphians for a Fair Future was credited as the "dark money" force behind the soda tax by Philadelphia Magazine after the tax passed in 2016.
The group is an ally of Philadelphia mayor Jim Kenney, who pushed the 1.5-cent per-ounce tax on sugary drinks that has made soda more expensive than beer. A Tax Foundation study released last year found the tax had fallen short of revenue projections, cost jobs, and forced some Philadelphians to drive outside the city to buy groceries.
Philadelphians for a Fair Future spent $2.2 million on lobbying for the soda tax before its passage. Several consulting groups and individuals who were paid by the group to lobby for the tax were not disclosed, in violation of the city's lobbying law. Specifically, the group paid Peak Strategic Solutions, Bellevue Strategies, Bellevue Communications Group, and Andrew Dalzell.
Last week, Kenney said it was the "army of unpaid lobbyists" that made the soda tax a reality, after the tax was upheld by the Pennsylvania Supreme Court.
The group also did not disclose its work with Rodney Muhammad, who is the president of the Philadelphia chapter of the NAACP and was a big backer of the soda tax. Muhammad was also not registered as a lobbyist.
Kenney raised eyebrows when he hired Muhammad as a consultant, paying him $25,000 following his support of the soda tax, but under the name "Rodney Carpenter."
Philadelphians for a Fair Future said it is "committed to transparency" in response to the ethics violations.
"We have been in discussions with the Board of Ethics for nearly a year concerning the issues addressed in the settlement," the group said in a statement. "From its inception in 2016, PFF has been committed to transparency in its operations, which is why we consistently disclosed the identity of all our donors as well as the amounts donated to this effort."
"At no time was PFF or its consultants engaged in any effort to hide or obscure its objectives or its strategies for achieving them," the group added. "In our discussions with the city's Ethics Board, we were informed that PFF and its consultants failed to register as lobbyists for our work in 2016. This omission was inadvertent, and we have corrected it."
Though the tax survived a court challenge in the state, it remains controversial. Bloomberg's efforts to push soda taxes have failed elsewhere, including $1.5 million for a measure in Santa Fe, N.M., that was soundly rejected by voters, and $5 million to advocate for a soda tax in Chicago, which lasted just four months.
Cook County repealed the tax, which had added a $1.28 tax for a gallon of zero-calorie iced tea.
Labels:
Democrats,
Dissecting leftism,
Nannies,
Nanny State
Arrogance, entitled, no class, yes you have a Democrat congressional candidate
Congressional candidate compares Melania Trump to prostitute
By Chris Perez
A congressional candidate from Oregon has caused an uproar on social media after comparing first lady Melania Trump to a prostitute.
“Did you know the First Lady works by the hour?” tweeted independent House candidate Mark Roberts on Monday, using the hashtags “#thinkdirty” and “#hoebag.”
Twitter users were quick to blast the politician for his crude comment, with some calling on him to pull out of the 2nd Congressional District race for Republican incumbent Greg Walden’s seat.
“Very unprofessional on your part,” tweeted one person. “Grow up and stick to the issues, so the voters in your district can decide on your stand regarding the issues.”
Another added, “Wow no class Mark. You’re definitely using liberal tactics and it makes me wonder if you really are a conservative at all.”
Roberts sparked the social media storm on Monday afternoon after replying to a tweet from Charlie Kirk, president of the right-wing youth organization Turning Point USA. Kirk had compared Melania’s staff numbers to those of former first lady Michelle Obama.
“Did you know: There are thirty-nine fewer staffers dedicated to The First Lady of the United States (FLOTUS) than under Obama,” Kirk tweeted, referencing data reported in January.
“There are only five staffers dedicated to Melania Trump vs. forty-four staffers who served Michelle Obama,” he said.
Political experts told The Oregonian on Tuesday that Roberts’ reply completely railroaded his chances of unseating Walden in a race that was already said to be a longshot.
“If he wins, I’ll sell my house and donate to charity,” joked Jim Moore, political science professor at Pacific University.
Roberts is apparently known for making crude and outlandish remarks on Twitter, most of which have been aimed at politicians.
“#NikkiHaley very hot,” he once tweeted, in reference to a TV appearance she made last year.
“Important stuff,” Roberts added.
Describing Illinois Democratic Sen. Kamala Harris, the independent candidate tweeted: “Hot, tough & smart!”
Commenting on a video featuring President Trump, he said: “It looks like he’s morphing into a woman, get that man a haircut and non fat chocolate cake!”
In response to the social media backlash he’s been receiving, Roberts refused to apologize and instead cited the Constitution.
“It’s that whole 1st amendment thing,” he tweeted on Tuesday, along with an official explanation from Twitter as to why his tweet about Melania hasn’t been taken down.
“We have investigated the reported content and could not identify any violations,” a spokesperson said. “Accordingly, we have not taken any action at this time.”
Labels:
Democrats,
Dissecting leftism
A medical school put a scientist found guilty of misconduct in charge of an NIH grant
A medical school put a scientist found guilty of misconduct in charge of an NIH grant
After a scientist was found guilty of misconduct at one university, a new institution asked to take over his grant and put him in charge of it.
But the new institution — the Morehouse School of Medicine, in Atlanta, Georgia — denies they ever employed him.
As we reported in May for The Scientist, Santosh Katiyar left his positions at the University of Alabama, Birmingham (UAB), and Birmingham VA Medical Center last year after a four-year investigation concluded he had committed scientific misconduct. Over the course of his career, Katiyar had obtained millions in funding from the U.S. National Institutes of Health — and according to an official NIH record, he continued his research at another institution.
As one of our eagle-eyed commenters noticed, according to NIH’s Research Portfolio Online Reporting Tools (REPORTer) database, Katiyar was — for several months — the Project Leader of a nearly $300,000 grant from the National Cancer Institute, affiliated with Morehouse School of Medicine. The NIH says Morehouse asked to transfer the grant from UAB in December 2017, and listed Katiyar as the principal investigator. Although Katiyar’s affiliation is listed as Morehouse School of Medicine on the grant, a spokesperson for Morehouse says he was never employed there.
The last we heard from a spokesperson for Morehouse, she told us:
[Katiyar] is not employed with Morehouse School of Medicine and has no affiliation.
When we followed up, she confirmed Katiyar had never been employed by the Morehouse School of Medicine.
But then we obtained some more details from the NIH:
The grant in question had been transferred from Alabama at Birmingham to Morehouse School of Medicine. NIH received a Type 7 Change of Institution application from Morehouse School of Medicine in December, 2017 listing Dr. Santosh Katiyar as the principal investigator, with his affiliation listed as Morehouse. NIH issued a notice of award in December 2017 documenting Dr. Katiyar from Morehouse School of Medicine as the principal investigator. Subsequently, NIH became aware of concerns about the integrity of Dr. Katiyar’s data. NIH contacted Morehouse and Morehouse requested early termination of the grant on March 19, 2018. So, the information in RePORTER reflects the information we had at the time of award. The Notice of Award was revised on 6/19/2018 to reflect a revised budget/project end date of March 19, 2018.
We’ve emailed and called the Morehouse spokesperson for a response to NIH’s statement, but haven’t heard back.
The research community has long struggled with the question of how to handle scientists who commit misconduct then apply for new positions (you can read more in our article at Undark).
The Alabama investigation into Katiyar’s work recommended that 20 papers be retracted. He has lost six papers so far.
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Labels:
Government waste,
Medicare,
science
FEMA personnel chief harassed women, hired some as possible sexual partners for male employees, agency’s leader says
The personnel chief of the Federal Emergency Management Agency — who resigned just weeks ago — is under investigation after being accused of creating an atmosphere of widespread sexual harassment over years in which women were hired as possible sexual partners for male employees, the agency’s leader said Monday.
The alleged harassment and other misconduct, revealed through a preliminary seven-month internal investigation, was a “systemic problem going on for years,” said FEMA Administrator William “Brock” Long. Some of the behavior could rise to the level of criminal activity, he said.
Some of the claims about the agency’s former personnel chief are detailed in a written executive summary of the investigation provided to The Washington Post. FEMA officials gave other details and confirmed that the individual under investigation, whose name was redacted from the report, is Corey Coleman, who led the personnel department from 2011 until his resignation in June.
Coleman could not immediately be reached for comment, and no one answered the door at his Northeast Washington home when a Washington Post reporter visited Monday. Coleman resigned June 18, before a scheduled interview with investigators, and FEMA officials said they have not been able to question him since.
Online records show Coleman was a senior executive who was paid an annual salary of $177,150.
In an interview, Long described a “toxic” environment in the human resources department under Coleman at FEMA headquarters. Starting in 2015, investigators said, Coleman hired many men who were friends and college fraternity brothers and women he met at bars and on online dating sites. He then promoted some of them to roles throughout the agency without going through proper federal hiring channels.
Coleman then transferred some of the women in and out of departments, some to regional offices, so his friends could try to have sexual relationships with them, according to employees’ statements during interviews with investigators.
“What we uncovered was a systemic problem going back years,” Long said. He said he has referred several of the cases to the Department of Homeland Security’s inspector general, who oversees FEMA, to investigate possible criminal sexual assault.
“The biggest problem I may solve here may be the eradication of this cancer,” Long said. “How many complaints were not heard? I’ve got to make sure we have a safe working environment for our employees.”
Long said the problems extend beyond Coleman. The investigation is “not going to stop with him,” he said.
Long said he received a direct complaint last year from an employee who said Coleman sexually harassed her. Long forwarded it to the general counsel’s office, which started the internal investigation. Coleman was placed on administrative leave in April.
Long is a Trump appointee who has served in his role for 13 months. FEMA officials said the DHS inspector general’s office had received complaints about Coleman in 2015 and referred them back to the agency to investigate. It’s unclear what became of those complaints under the previous administration, the officials said. The inspector general’s office did not respond to a request for comment.
Many of the men and women Coleman hired were unqualified yet are still at the agency, officials said. Long said his staff interviewed 73 current and former employees and took sworn statements from 98 people.
Long said many valued employees in the human resources department left because of Coleman’s “unacceptable leadership style, good people who wouldn’t put up with it.”
The preliminary investigation, completed Friday, found that an official described as the former chief component human capital officer had sexual encounters with two subordinates, one in 2015 and the other in 2017 continuing into this year. FEMA officials confirmed this person was Coleman.
Both women accompanied him on work trips, but one had few official duties on the trips. When the first woman ended the relationship, Coleman pressured her for dates — then denied her a promotion and tried to fire her, she told FEMA investigators. She said she kept her job by telling him she might be willing to go on dates with him again, according to the preliminary report.
When the second woman said she wanted to leave FEMA, Coleman created a new position for her for which she admitted to investigators she was unqualified. He also allowed her to sometimes work from his house, the report said.
Long sent an all-employee email Monday describing the investigation and steps he is taking to address sexual harassment, including mandatory training by an outside company, new counseling services, a new office to investigate allegations of sexual misconduct and a team of independent contractors to look into pending claims that may have been “inadequately addressed.”
He said he went public about the case “to be open and transparent and tell this story rather than people telling it for us.” As sexual harassment has gained prominence in the #MeToo era, federal agencies in the Trump administration have stepped up training for employees and pledged zero-tolerance policies for perpetrators.
A study this past spring by the Merit Systems Protection Board found that sexual misconduct, while less prevalent now than in the 1990s, still is commonplace in federal offices. One in 5 women at large agencies said they had experienced some form of inappropriate behavior from a co-worker or supervisor. Nearly 9 percent of male employees reported similar problems. And just 8 percent of employees who said they were harassed believed that corrective action was taken against the perpetrators, the study found.
Long said he briefed members of Congress on the FEMA investigation Monday.
Rep. Elijah E. Cummings (D-Md.), the top Democrat on the House Committee on Oversight and Government Reform, commended FEMA and called on his committee to hold hearings on the investigation.
“One of FEMA’s top human resources officials — whose job it was to secure a safe and stable work environment — abused his subordinates by demanding sexual favors and then punishing or rewarding employees based on whether they complied with or rejected his demand,” Cummings said in a statement.
Coleman was hired at FEMA in 2011 as deputy personnel chief from the U.S. Secret Service, where he was chief human resources officer for the information technology department.
He was quickly promoted to the top job, overseeing hiring and all personnel policies for the 20,000-person agency and its 10 regional offices.
But Long said the working conditions and morale in his department were “so bad” that Coleman was sidelined to other offices at FEMA on three separate details for months at a time.
“And each time, he was allowed back to his job,” Long said.
Staff writers Arelis R. Hernández and Deanna Paul contributed to this report.
Labels:
bureaucracy,
government workers,
Rape Culture
The brightest bureaucratic minds in Europe designed the EU
As Greeks attempt to recover from the devastating and deadly wildfires, The IMF has decided to pile on the pain with a new report that raises questions about Greece's debt sustainability, warning that the nation's cash buffer is set to drop by half by end of 2022.
IMF Mission Chief for Greece Peter Dohlman told reporters on conference call this morning that Greece’s cash buffer will rise to EU24b as a result of debt relief measures agreed by euro-area finance ministers in June, but that amount is set to drop by half to EU12b by end of 2022.
Translating The IMF's newspeak, it is explaining that without more generous debt relief measures, Greece “could struggle to maintain market access over the long run”, the fund said in its last economic assessment of the country before the end of its bailout on August 20.
The fund’s calculations find Greece’s debt costs will “begin an uninterrupted rise” after 2038 — costing around 20 per cent of the country’s GDP every year.
It is at this point that “additional relief would be needed to secure debt sustainability”, said the report.
While the world assumed that Greece was 'fixed', it apparently is not (surprise!!) and EURUSD is dropping on the news...
Additionally, the fund suggests that Greek banks raise capital:
Are Greeks about to be Cyprus'd all over again?
And this news hits right as ECB begins to 'normalize'? Get back to work Mr Draghi...
Labels:
economics,
Euro Socialists
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