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Verizon IPhone Debut Greeted With Short Lines

The Verizon iPhone went on sale Thursday, but demand appeared to be tepid, with small or no lines at Verizon and Apple stores. (Feb. 10)

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Living in the least natural setting—the city—may be the best way to save nature, a Harvard economist writes in the Boston Globe . Urban dwellers drive less and have smaller homes to heat than their suburban counterparts, writes Edward Glaeser. By his reckoning, an average suburban Boston household emits…

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Mubarak Transfers Power to Vice President

Egyptian President Hosni Mubarak announced he has handed his powers over to his vice president but he refused to step down outright or leave the country, (Feb. 10)

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CBO: Obamacare Will Cost 800,000 Jobs

This is the smoking gun that needs to be replayed and replayed between now and 2012. Broadcasting platform : YouTube Source : Wolf Howling Discovery Date : 10/02/2011 23:51 Number of articles : 5

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Raw Video: Egypt Reacts to Mubarak Speech

Crowds of Egyptians erupted in chants after President Hosni Mubarak said he is transferring powers to his vice president, Omar Suleiman, but will not leave the country. (Feb. 10)

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‘X-Men: First Class’ Trailer

[1] 20th Century Fox has released the first movie trailer for Matthew Vaughn’s X-Men: First Class on Facebook. Based on a story by original X-Men director Bryan Singer, the new film is a Casino Royale-style prequel/reboot of the comic book movie series. The story “charts the epic beginning of the X-Men saga, and reveals a secret history of famous global events.” Hit the jump to watch it now. Please… Broadcasting platform : YouTube Source : /Film Discovery Date : 10/02/2011 23:45 Number of articles : 5

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Too juicy: Audience Member AT CPAC Yells To Cheney ‘You’re A War Criminal’

As a Blender on Facebook said, ” whoops… they can’t even screen CPAC-goers for non-Kool-aid-drinkers anymore .” CBS : The annual convention has attracted about 11,000 conservatives to the nation’s capital, many of them young supporters of libertarian icon Ron Paul. They were ready this afternoon to show their opposition to the Bush administration when former Defense Secretary Donald Rumsfeld was… Broadcasting platform : YouTube Source : Pam’s House Blend Discovery Date : 10/02/2011 23:41 Number of articles : 5

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Egypt’s hope turns to fury as Mubarak clings to power

President hands some powers to vice-president Suleiman but will remain in control until September elections President Hosni Mubarak dashed the hopes of hundreds of thousands of Egyptians celebrating what they expected would be his resignation speech by defiantly telling them he would not bow to domestic or foreign pressure to quit. Mubarak said he would hand some powers to his vice-president, Omar Suleiman, but would remain in overall control until September to oversee what he called an orderly transition to an elected government. He repeated a pledge not to seek re-election. He also said that there would be no going back on a commitment of long-term political reform after the two weeks of growing protests to demand his resignation. However, he ominously referred to the army playing a role in ensuring an orderly transfer of power. The president’s defiant tone angered the crowds packed in to Cairo’s Tahrir Square, the centre of protests against Mubarak’s 30-year rule, and may have set the stage for an ugly confrontation at the mass demonstrations called for across Egypt. Many of the protesters waved their shoes, a traditional sign of contempt, and chanted: “He must leave”, and shouted “Mubarak you are finished”. Egypt’s opposition leaders immediately said they would escalate the protests which in recent days have spread to include strikes that have shut down the public transport system, some hospitals and factories. Mubarak said he would transfer some powers to Suleiman to prove that the demands of protesters for political change will be met but did not specify which ones. But he rejected foreign pressure, notably from the US, to immediately take major steps toward democratic rule. “I have spent most of my life in defence of our homeland,” said Mubarak. “I have never succumbed to any international pressure. I have my dignity intact.” In the hours before Mubarak’s speech, thousands of pro-democracy activists poured in to Tahrir Square for an impromptu victory party in expectation that the president was about to quit after 30 years in power. The prime minister, Ahmed Shafiq, and other senior politicians said they expected him to announce he would step down as the political crisis continued to deepen. The mood of optimism was reinforced when General Hassan al-Roueini, the military commander for Cairo, told the crowd: “All your demands will be met today”. Hossam Badrawi, the new secretary general of the ruling National Democratic party, was quoted in the state press as saying he had requested Mubarak to transfer his powers to Suleiman, who had appeared to be effectively running the country in recent days. But behind the scenes, a political struggle appeared to be under way over the terms of Mubarak’s departure. The military’s role was not immediately clear but the Muslim Brotherhood, a leading political force although banned, said it appeared the army had taken over behind the scenes. “It looks like a military coup,” one of the group’s leaders, Essam al-Erian, told Reuters. “I feel worry and anxiety. The problem is not with the president, it is with the regime.” The huge crowds served as a warning that the popular pressure for change is not likely to ease. Besides Mubarak’s resignation, opposition activists have been demanding an immediate lifting of the country’s 30-year-old state of emergency, which has been used to lock up the government’s opponents without trial. They have also pressing for parliament, elected in a tainted ballot last year, to be dissolved. Some opposition leaders have said that they would accept an interim administration, controlled by civilians with a military presence, for up to a year to make constitutional changes to permit free elections and also to allow for the creation of new political parties and to give them a chance to become rooted. Despite his defiance, Mubarak’s position is increasingly threatened by the spreading strikes and protests. The regime had expected the protests to lose steam this week but the largest crowd to date descended on Tahrir Square on Tuesday as ordinary Egyptians sensed the government’s weakness after it made a series of political concessions even if they fell short of the opposition’s demands. Doctors and thousands of other medical workers joined transport workers, Suez canal employees and thousands of other workers across the country in walking out. On Wednesday, Egypt’s foreign minister, Ahmed Aboul Gheit, rejected Washington’s demand for a demonstration that major change is underway – specifically the lifting of the oppressive 30-year state of emergency, a particular grievance of pro-democracy campaigners – by saying that Washington should not “impose” its will. The White House responded by warning that Cairo has not done enough to satisfy what the Obama administration has previously characterised as the legitimate demands of the protesters. “I think it is clear that what the government has thus far put forward has yet to meet a minimum threshold for the people of Egypt,” said Robert Gibbs, the White House spokesman. Earlier this week, the US vice president, Joe Biden, phoned Suleiman, the former intelligence chief who is now overseeing dealings with the opposition and the promised political transition, to urge him to immediately lift the state of emergency. Egypt Hosni Mubarak Middle East Chris McGreal guardian.co.uk

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In 2005, the Billionaires for Bush stumped for the new bankruptcy bill. See how well that worked? And isn’t funny that the NY Fed had to take all this time to figure out what so many of us already knew? WASHINGTON — Economists at the New York Federal Reserve have concluded that a controversial 2005 law backed by banks and credit card companies pushed more than 200,000 people into foreclosure and exacerbated the subprime mortgage crisis. Consumer advocates fought hard against the law, which made it much more difficult for individuals to alleviate credit card debt in bankruptcy. This inability of homeowners to eliminate other debts, the New York Fed economists conclude, in turn made borrowers unable to pay off their mortgages, spurring foreclosures . Despite opposition from public interest groups, the 2005 law easily cleared both chambers of Congress and was signed into law by President George W. Bush. In a paper released Tuesday, New York Fed researchers Donald P. Morgan, Benjamin Iverson and Matthew Botsch determined that the law sparked about 116,000 additional subprime mortgage foreclosures a year after going into effect. What’s more, they note, these foreclosures pushed home prices down, which may have lead to additional foreclosures. When the value of a home drops below what a borrower owes on the mortgage, it becomes nearly impossible to get out of the loan by selling the house or refinancing, making foreclosure more likely if they become unable to afford the monthly payment. “By making it harder for borrowers to avoid paying credit card debt, [the 2005 bankruptcy law] made it more difficult for them to pay their mortgages, so foreclosure rates rose,” the economists wrote. Although borrowers have been unable to alleviate mortgage debt in bankruptcy since 1993, they remain able to discharge credit card debts by filing for bankruptcy. But the 2005 law made it much more difficult for consumers to file for bankruptcy at all — and then limited their ability to reduce credit card debt burdens once they did.

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Snow Coats Southern Roads, Temps Take Dive

A swath of the southern United States endures snow and a blast of bitter air, plunging temperatures well below the freezing mark. (Feb. 10)

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