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herb the verb's picture

What the Heck is an "Offshore Captive"?


Hint: it has nothing to do with extraordinary rendition and you can find out here:

"That is because the captive insurance scam was systemic. “This was not an isolated case … AIG did that a lot,” a former insurance regulator said, speaking under condition of anonymity. “AIG helped companies set up offshore captive reinsurance companies. AIG would then overcharge on insurance and pay reinsurance premiums to the captives, giving the captive owners tax-free offshore income.”"

What Krugman said

The Shrill One provides more horrifying charts, and remarks:

Knowledge is the only thing standing between us and Great Depression 2.0. It’s only to the extent that we understand these things a bit better than our grandfathers — and that we act on that knowledge — that we have any real reason to think this time will be better.

With one caveat: Read more about What Krugman said

VT legislature: Gays fully human

Personal urban mobility and accessibility

GM's electric-powered Puma. Could be pretty cool, and although one does sense the executives reaching deep into the labs for anything tagged "innovative," that might not be such a bad thing:

Puma stands for personal urban mobility and accessibility.

The prototype, which will be debuted in New York, is aimed at urban driving. GM aims to start making them by 2012.

The vehicle, named Puma, can go as far as 35 miles on a single charge. It will use lithium-ion batteries.

Now the banksters are fucking the renters over -- even when they're paid!


Laura Hecox was baffled when an officer from the San Diego County sheriff’s department came to her home in February and said she was being evicted. She hadn’t missed a rent payment on her four-bedroom house since moving there a year-and-a-half earlier.

“They told me to leave, to get a few things together,” said Hecox, 37, who lives with and supports her four kids and mother. “I got booted out just like that.”

twandx's picture

A shakeup of the shibboleths?

N.E. Hills are alive with the debate on whether marriage must be restricted to one husband and one wife - lesbian and gays need not apply. In Vermont, both Houses have passed bills that allow same-gender marriage but the Governor has promised a veto.

Vermont does have Civil Unions, which at the time of passage, appeared to be a big step forward but now as more states are making marriage legal, the push is on to join in or be left behind. Read more about A shakeup of the shibboleths?

Damon's picture

Not-So-High Times in Oakland County

Michigan voters made it clear on November 4, 2008 that they wanted to allow the use of marijuana for patients with debilitating medical conditions. Quite a few local law enforcement authorities in the state haven't quite gotten the picture:

MADISON HEIGHTS -- Bob Redden thought he was doing the right thing when he went to a medical clinic in Southfield to get paperwork to qualify himself for medical marijuana.

Sarah's picture

Don't eat the pistachios, either -- nationwide recall follows salmonella find

Via the AP, a California producer is cooperating with the FDA.

Federal regulators say consumers should avoid eating pistachios or foods made with the nuts until they can determine that they don't contain any nuts that Setton has recalled. The FDA on Monday also advised wholesalers, retailers, and operators of restaurants and food service establishments against selling or serving any pistachios or pistachio products until they can figure out whether they came from Setton.

Saint Warren serves with both hands

Buffet, whose fraudulent ratings agency, Moody's, helped make The Big Shitpile as Big as it became, is not just a bailout booster -- He's a beneficiary! McClatchy:

Billionaire investor Warren Buffett has been lauded for his plainspoken denunciation of the greed and foolishness behind the economic crisis. He's pushed the massive federal bailout of imploding banks as the essential response to an "economic Pearl Harbor."

A Sacramento Bee examination of regulatory records has found that his extensive holdings in financial firms have made Buffett ... one of the top beneficiaries of the banking bailout.


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