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MTA's planned cuts include everything from station agents to entire train lines
BY PETE DONOHUE
DAILY NEWS STAFF WRITER
Tuesday, November 18th 2008, 4:00 AM
The MTA's doomsday budget will wipe out the W line, zap the Z line and ax more than 1,500 NYC Transit jobs, the Daily News has learned.
The list of bus and subway cuts the Metropolitan Transportation Authority will unveil at its monthly board meeting Thursday is extensive and potentially bruising, sources said.
A Texas grand jury has charged US Vice-President Dick Cheney for "organised criminal activity" related to alleged abuse of private prison inmates.
The indictment says Mr Cheney - who has invested $85m (£56m) in a company that holds shares in for-profit prisons - conspired to block an investigation.
The indictment has not been seen by a judge, who could dismiss it.
“MAYBE WE SHOULD HAVE HANDCUFFED ALL THE B******S?”
An Indian navy warship has destroyed a suspected Somali pirate vessel after it came under attack in the Gulf of Aden.
INS Tabar sank the pirate "mother ship" after it failed to stop for investigation and opened fire instead, an Indian navy statement said.
When Michael McNicholas, legal counsel at HSH Nordbank AG in London, needed help suing UBS AG to recover $275 million in subprime mortgage losses, he didn't bother turning to the big London law firms for help.
``It's well known that the Magic Circle law firms will not take on work that conflicts with their priority clients,'' said McNicholas, referring to London lawyers and the banks they represent. ``It was a given that they would not act in a case like this, so we didn't even consider talking to them.''
Instead he interviewed several litigation boutique firms and picked Quinn Emanuel Urquhart Oliver & Hedges in Los Angeles, which has developed a practice suing banks because the biggest U.S. and U.K. firms won't.
Wachovia Corp. has paid investment bank Goldman Sachs Group Inc. $77 million in fees since October 2006 for various advisory services and is set to pay another $25 million for advice involving the Charlotte bank's sale to Wells Fargo & Co., according to a filing Tuesday.
The $77 million covers work such as Goldman's assistance with Wachovia stock offerings as well as “financial advisory services since December 2007,” according to the filing. Wachovia, struggling with mounting mortgage losses, said in June that it hired Goldman to analyze its loan portfolio but hasn't provided a timeframe for the work.
Representatives for Wachovia and Goldman Sachs declined comment.
Within days, however, Mr. Guthrie’s bank, a branch of Wells Fargo,
became concerned and told Wachovia that the checks had not been
authorized. At Wells Fargo’s request, Wachovia returned the funds. But
it failed to investigate whether Wachovia’s accounts were being used
by criminals, according to prosecutors who studied the transactions. In all, Wachovia accepted $142 million of unsigned checks from
companies that made unauthorized withdrawals from thousands of
accounts, federal prosecutors say. Wachovia collected millions of
dollars in fees from those companies, even as it failed to act on
warnings, according to records.
Originally posted by shermanium
reply to post by LookingAround
best. video. ever.
thanks for posting it!
[edit on 18-11-2008 by shermanium]
Originally posted by titorite
Ok so I am trying to think like a wise investor.
If I have R right he is saying that investments in chinease public works would be a profitable trade (despite the ethical nature of it) and more then that, the Chinease markets will fair the best through out the world wide depression due to our debts to them?
That and now would be a good time to invest in medical stocks?