Seeing red. Photo: Drew Angerer/Getty Images The stock market fell out of bed Monday morning. Then, it rolled across the floor, down a staircase, out the front door, and, by noon on Tuesday, had tumbled through an open manhole, plummeted into a sewer — regained consciousness long enough to climb a couple inches toward the light — only to slip off the ladder, and plunge back down through liquid waste toward the bowels of the Earth. Or, in more technical terms: As of early Tuesday afternoon, the Dow Jones Industrial Average was down 450 points (after falling 400 points on Monday), while the S&P 500 had declined by 1.4 percent (after sinking by 1.7 percent Monday), turning both indexes negative on the year. Meanwhile, the Nasdaq hit a seven-month low, leaving the the tech-centric index more than 10 percent below its most recent peak, and thus, firmly in “correction territory.” And you, dear reader, were wondering who or what had provoked the market … [Read more...] about U.S. Stocks Just Erased All Their 2018 Gains. Here’s Why.
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University of Miami professor Bruce Bagley was arrested on Monday, charged with laundering three million dollars. Professor Bagley allegedly cleaned and helped to distribute approximately three million dollars between November 2017 and April 2019. The newly-laundered money was collected through bribery, as well as a public works project in Venezuela. Prosecutors also claim Bagley pocketed about 10% of the money, around $300,000. He has been charged with two counts of money laundering, and one count of conspiracy.U.S. Attorney for the Southern District of New York Geoffrey Berman said Bagley “opened bank accounts for the express purpose of laundering money for corrupt foreign nationals.” Further, that “the funds Bagley was allegedly laundering were the proceeds of bribery and corruption, stolen from the citizens of Venezuela.” The 73-year-old international relations professor has been one of the top experts in Latin American organized crime, with a … [Read more...] about Money Laundering Expert Arrested for Laundering Money
For the most part, crisis pregnancy centers stay away from offering or even recommending any kind of “artificial” birth control. Photo: Adam Hart-Davis/Getty Images/Science Photo Librarary Like nature, federal funding streams abhor a vacuum. So when the Trump administration pushed Planned Parenthood out of women’s family-planning programs by stipulating that recipients could not refer patients to (or have an organization connection with) abortion providers, a pot of about $60 million a year suddenly became available to anyone who could supply the stipulated services without running afoul of the new regs. For the most part, the anti-abortion movement’s favorite alternative to Planned Parenthood clinics, its huge (an estimated 2,750 of them) network of so-called “crisis pregnancy centers” don’t really pretend to offer “family planning” or women’s health services. They mostly exist to talk or coerce pregnant women into … [Read more...] about Can Anti-Abortion ‘Crisis Pregnancy Centers’ Snag Federal Family-Planning Funds?
A Mission District property that was at the center of a fight over neighborhood gentrification will become the site of 100 percent affordable housing now that the city has agreed to buy the parcel for about $18.5 million. The Mayor’s Office of Housing and Community Development is in contract to buy 1515 South Van Ness Ave., a former electrical contracting warehouse that had been on track to be replaced by market-rate apartments. Instead, the property will now accommodate about 150 housing units affordable to low-income families. Mayor London Breed said the deal would help “families who are at risk of displacement.” “For too long we have not built enough housing, especially affordable housing, and we are working to change that with investments like this one,” said Breed. She said the Mission neighborhood would continue to be a priority for her administration. The city was to announce the deal Tuesday. Along with the so-called “Beast on Bryant” … [Read more...] about SF buys South Van Ness site, turning it from market-rate to affordable housing
CLAIM: President Donald Trump had to “confess” to “illegally diverting charitable contributions that were supposed to go to veterans.” VERDICT: False. The money did go to veterans. South Bend, Indiana, Mayor Pete Buttigieg claimed at Wednesday night’s Democrat debate that President Donald Trump ought to have left office after having to “confess, in writing, in court, to illegally diverting charitable contributions that were supposed to go to veterans.”Buttigieg misstated the finding of the court. The issue was that the money, which Trump raised in January 2016 at an event for veterans (in lieu of attending the Iowa caucuses debate), was distributed by the Trump campaign rather than the Trump Foundation. As National Public Radio reported, “Justice Saliann Scarpulla says the funds did eventually reach charity organizations supporting veterans.” New York Attorney General Letitia James wanted the court to impose a higher penalty, … [Read more...] about Fact Check: No, Trump Did Not Divert Money ‘Supposed to Go to Veterans’