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Sunday, February 20, 2005

Beijing (??; pinyin: B?ij?ng) —Chinese President Hu Jintao is stepping up a government campaign to eradicate illegal gambling in China, detaining over 4,000 gamblers in an effort to clean up the public image of the Communist party.

Cadres and officials within the party have been caught using illicit funds, sometimes embezzled from local, state-run organizations, to gamble at casinos set up in border-towns within North Korea, in Macau, and in other popular gambling resorts outside of the direct control of the mainland government.

To assuage any fears that this latest campaign extends to ordinary working-class citizens, Deputy Public Security Minister Bu Jingfu has announced that ordinary citizens need not worry about being prosecuted for “friendly” games of mahjong. He did not specifically address whether mainland citizens should reconsider visiting the numerous mahjong gaming parlors which dot urban centers throughout the country.

“The whip that is used to beat wolves should not be used to beat sheep,” stated Bu Jingfu.

China allows a “social welfare” lottery, for which citizens can purchase tickets that help to fund social programs. However, this legal form of gambling is mostly favored by lower-income players who don’t have the opportunity to travel to the lavish gaming casinos frequented by the wealthier class of businessmen and party officials who can travel across the border on easily obtained one or two-day visas.

Despite relatively harsh penalties for those who are caught participating in illegal gambling operations, a number of provinces are well-known for hosting high-stakes gamblers in illegal, underground operations that are run on the mainland under the noses of local authorities. To combat these operations on a national level, the Public Security Ministry has sent 13 “inspection teams” to these provinces in an attempt to crack down on these operations.

One historian believes that China’s government, which in its various forms has tried to stop avid gamblers for thousands of years, will have no better luck with its current campaign, than it has in the past.

“It is really hard to get rid of gambling,” said Guo Shuanglin, a professor of history at People’s University in Beijing.

Guo explained, “There were strict laws against gambling in almost every dynasty in China. Take the Song Dynasty, for example, when gamblers were sentenced to death. In the Ming Dynasty, gamblers’ hands were chopped off. Even in the period of the Republic of China, they had a very strict anti-gambling law.”

As far away as Las Vegas, casino operators are seeing a shift in demographics for their most elite players, called “whales”, who are known to bet upwards of US$50,000 a hand. Since the 1980s, Las Vegas has seen a shift from Japanese businessmen to Chinese players, who now make up over 50% of the high-end clientele at some Las Vegas casinos.

Shen Mingming, a Beijing University expert on Chinese gambling, is skeptical that China’s government can sustain a long-term campaign against gambling.

“It means long hours for the police, and it cannot be sustained,” he said. “When the campaign is over, these organizations just quietly come back to life. Can you keep doing these campaigns every few months?”

However, this time China’s government has set up a special telephone number, to encourage citizens to turn in government officials who are embezzling government funds for illicit gambling runs.

China has recently conducted a series of high-profile arrests of corrupt officials who are caught gambling with public funds, two of whom used tens of millions of dollars to fund their gambling lifestyle.

The government has also made one special arrest to show that even high-level officials are not immune to prosecution due to their party position. Cai Haowen, who had been groomed by former Chinese President Jiang Zemin, was arrested this month on an overnight train in Jilin (??; pinyin: Jílín) province, while fleeing authorities for embezzling hundreds of thousands of dollars and losing it all while gambling.

Finally, China is starting to crack down on the easy visa programs which have permitted so much traffic to gambling emporiums outside of mainland government control. The new visa program requires that records be kept of the identity of the visa holder. This new visa requirement has started to have a noticeable effect on some border-town casinos, leaving a number of properties with idle employees and few Chinese customers.

Thursday, January 12, 2017

Esteban Ruiz Santiago, 26, appeared in federal court in Fort Lauderdale, Broward County, Florida this Monday. Santiago stands accused of a shooting at Fort Lauderdale-Hollywood International Airport on Friday at 12:55 p.m. local time (1755 UTC) at the lower level baggage claim area in Terminal 2 of the airport. The incident killed five people and injured six, with roughly another 40 people injured in the crowd while hastily evacuating from the scene.

Police drove Santiago from the Broward County main jail to the court building in the morning. At the hearing, Santiago attended handcuffed and also cuffed at the ankles, guarded by at least eight police officers. The Magistrate, Judge Alicia Valle, questioned Santiago on his finances. The prosecutor also sought a detention order for public safety and flight risk. The hearing took about 20 minutes. The Judge ordered Santiago a public defender, and set a detention hearing for January 17, and the arraignment hearing for January 23. After the hearing, the police returned Santiago to the Broward County main jail.

At the hearing, Santiago had admitted to earning US$2,100 a month as a security guard in Alaska, while only having about US$10 of savings in a bank, and no other property. The Judge also informed Santiago of the penalties that may be imposed on him in the case he was convicted.

On Friday, authorities said, Santiago arrived from Anchorage, Alaska with only one baggage item — a suitcase with an unloaded Glock 9 mm semi-automatic handgun. Upon arriving at the airport, he picked up the suitcase at the baggage claim carousel and loaded it in a nearby bathroom. Then he walked out and started shooting people, at random according to a witness. People started to run and hide, and Santiago continued to shoot. Then Santiago stopped shooting, witnesses claiming he ran out of ammunition. The police arrested him. He did not resist the arrest.

According to officials, Santiago received a mental health evaluation in November, after he traveled to an FBI office and walked in alleging his head was controlled by the government and he heard voices urging him to watch ISIS propaganda. At the time of that incident he left his infant son and a gun in a car, and the infant was given to mother’s care. His gun was seized at the time of that incident, but Santiago was given it back on December 8.

Santiago traveled from Anchorage, Alaska to Minneapolis to Fort Lauderdale Airport on a Delta Airlines flight. Investigations were ongoing to determine the motivation for the incident. No evidence was found of Santiago communicating with any other individual in relation to the incident; he seemed to be acting alone. In an interview, Santiago admitted to having planned the shooting in advance when purchasing the airline ticket. According to CNN, Esteban Santiago previously belonged to the Alaska Army National Guard, including a ten-month stint in Iraq where he was given a combat action badge. According to Santiago’s family, his mental health issues started after his ten-month tour in Iraq, after which he began to tell them about auditory hallucinations.

All flights to and from Fort Lauderdale Airport were suspended by the Federal Aviation Administration (FAA) until Saturday morning, and roads in and out of the airport closed.

Santiago was born in New Jersey. He spent his childhood in Puerto Rico, an unincorporated US territory in the northeastern Caribbean Sea.

At the time of the incident, it was legal in the US to transport guns in a hard-sided and locked container by air. In Florida, it was also legal to carry a gun in an airport terminal without removing the gun from its case.

Saturday, September 10, 2005

On Friday, all six major American television networks; ABC, CBS, FOX, NBC, WB, and UPN, along with most PBS stations, united in a rare show of solidarity to air a one hour charity concert called Shelter from the Storm: A Concert for the Gulf Coast.

The concert aired live at 8pm in the Eastern time zone and 7pm in the Central time zone and on tape-delay in the Mountain and Pacific time zones. It was also shown on the Internet and many cable networks such as USA, Bravo and G4.

The show was produced by Joel Gallen, the same man behind the September 11th tribute concert America: A Tribute to Heroes. The show was not censored for political statements but was for obscenities. Gallen did not expect any political statements. Last week, rapper Kayne West made a remark on an NBC charity show A Concert for Hurricane Relief, in which West claimed that “George Bush doesn’t care about black people.”, which caused controversy.

The concert began with Randy Newman singing “Louisana 1927.” Throughout the concert there were notable acts, such U2 performing “One” with Mary. J Blige. Another moment was Garth Brooks, Trisha Yearwood and the house band from The Late Show with David Letterman doing a cover of John Fogerty’s “Who’ll Stop The Rain”.

Donations were being solicited for the American Red Cross and the Salvation Army.

Telecom company AT&T provided toll-free calling and 10 call centers for the event and MCI provided volunteers from their call centers.

BET also held a charity concert called S.O.S (Saving OurSelves), a half-hour before cutting to the main one.

MTV, MTV Overdrive, VH1 and CMT will air a charity show Saturday called ReAct Now: Music & Relief.

A compilation of brief news reports for Monday, May 7, 2007.

A 30 meter section of a gas pipeline in Luka (near Kiev) in Ukraine has been destroyed by an explosion. Although supplies to Europe via this pipeline have stopped, Ukrainian Energy Minister Georgi E. Boyko said that supplies to Europe would not be affected.

“There are no changes in volumes of gas being transported,” Yuri Korolchuk said. “Volumes due to pass through the damaged section are being redirected through the Soyuz pipeline.”

Normal flows are reported in the Czech Republic, Hungary, Poland and Romania.

Sources

• “Blast damages pipeline in Ukraine” — Russia Today, May 8, 2007
• Natalya Zinets, Reuters. “Blast hits Ukraine gas pipeline” — The Scotsman, May 7, 2007

Copper prices are rising. Between record copper imports from China, and a mining strike in Peru, the prices have climbed to over $8100 (United States dollars) a tonne, for a gain of $575 dollars over the last week. However the upward trend is not new, it has been climbing for quite some time. In April 2003, the price of copper was under $2000 a tonne.

The metal market has been tending up due to growth in the Chinese industrial production. This trickles down to the local level, where the buying price at scrap yards is ever climbing, making scrap metal collection a more profitable endeavour for individual people using pick up trucks or other such vehicles to collect and cash in the scrap metal at metal buying yards. It can be collected via agreements with businesses, from the garbage, or, sometimes, by theft.

Copper prices fell today on the NYMEX commodity exchange from US$3.7545 per pound to US$3.7125 based on the July futures contract.

Sources

• “Copper up but crude oil down” — Financial Express, May 6, 2007
• Millie Munshi. “Metals Bubble Poised to Burst on Increasing Supplies” — Bloomberg L.P., May 7, 2007
• “Commodity Futures” — Bloomberg L.P., accessed May 7, 2007

One man was killed and another injured by an exploding backpack in the parking lot of the Luxor Hotel in Las Vegas, Nevada. The explosion happened at 4 a.m. PDT when the victim tried to remove a the object left on top of his car.

Agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) are on the scene. Aerial images did not show any apparent damage.

“We believe the victim was the intended target of this,” Bill Cassell said, spokesperson for the Las Vegas Metropolitan Police Department. “This is being treated as a homicide in which the weapon used to cause death is a non-traditional weapon.”

Both of the victims worked at the Luxor.

Sources

• Associated Press. “1 dead, 1 hurt in Las Vegas parking lot blast” — MSNBC, May 7, 2007
• “Explosion kills man in Vegas outside Luxor hotel” — Reuters, May 7, 2007

Sunday, August 21, 2005

A robotic system at Stanford Medical Center was used to perform a laparoscopic gastric bypass surgery successfully with a theoretically similar rate of complications to that seen in standard operations. However, as there were only 10 people in the experimental group (and another 10 in the control group), this is not a statistically significant sample.

If this surgical procedure is as successful in large-scale studies, it may lead the way for the use of robotic surgery in even more delicate procedures, such as heart surgery. Note that this is not a fully automated system, as a human doctor controls the operation via remote control. Laparoscopic gastric bypass surgery is a treatment for obesity.

There were concerns that doctors, in the future, might only be trained in the remote control procedure. Ronald G. Latimer, M.D., of Santa Barbara, CA, warned “The fact that surgeons may have to open the patient or might actually need to revert to standard laparoscopic techniques demands that this basic training be a requirement before a robot is purchased. Robots do malfunction, so a backup system is imperative. We should not be seduced to buy this instrument to train surgeons if they are not able to do the primary operations themselves.”

There are precedents for just such a problem occurring. A previous “new technology”, the electrocardiogram (ECG), has lead to a lack of basic education on the older technology, the stethoscope. As a result, many heart conditions now go undiagnosed, especially in children and others who rarely undergo an ECG procedure.

Monday, October 13, 2008

Markets worldwide have surged in value following efforts by governments to ease the effect of the ongoing financial crisis, which has recently caused a massive decline in the value of stock markets.

On Sunday, the fifteen countries from the Eurogroup – that is, those countries which use the euro as official currency – had agreed on a joint plan to face the crisis, which would consist in supporting financial institutions and by guaranteeing interbank loans.

The Eurogroup meeting was the last of many which took place during the weekend. The G7 nations had met in Washington at the same time that the International Monetary Fund and the World Bank held their Autumn meetings.

The Dow Jones Industrial Average index is one of the indexes that have done particularly well today, and it closed up 11.08%, well over 9,000 points. General Motors was the best performer in this index, with its value rising by 31.49%. The Nasdaq rose by 11.81%.

The FTSE 100 has today gone up in value by 8,26%, to take the index back over the four thousand mark. TUI Travel was the best performing company in this index. It went up by 41.25 points (21.48%), to take it to a new share price of 233.25. Some shares in the FTSE, however, have continued to fall dramatically. HBOS today dropped in value by 31.48%.

The Brazilian Bovespa index today went up by 14,66%, while the Hang Seng and Singapore Straits Times went up by 10.24% and 6.57% respectively.

Stocks exchanges in Tokyo, Buenos Aires and Toronto were closed due to national holidays.

Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.