Late last Wednesday, the New York Fed said in a court filing that in July it had released Bank of America from all legal claims arising from losses in some mortgage-backed securities the Fed received when the government bailed out the American International Group in 2008. One surprise in the filing, which was part of a case brought by A.I.G., was that the New York Fed let Bank of America off the hook even as A.I.G. was seeking to recover $7 billion in losses on those very mortgage securities.
It gets better.
What did the New York Fed get from Bank of America in this settlement? Some $43 million, it seems, from a small dispute the New York Fed had with the bank on two of the mortgage securities. At the same time, and for no compensation, it released Bank of America from all other legal claims.
The backbone of President Obama’s health care law is taking shape, with 26 states choosing to let the federal government run the online insurance markets mandated by his signature reforms instead of keeping the job in-house or partnering with the feds.
The Department of Health and Human Services had encouraged states to run their own markets, or “exchanges,” that help the uninsured find coverage. Only 17 states and the District took on the task while seven states decided to split the duties, according to a breakdown by the Kaiser Family Foundation.
Tens of thousands of Americans who cannot get health insurance because of preexisting medical problems will be blocked from a program designed to help them because funding is running low.
Obama administration officials said Friday that the state-based “high-risk pools” set up under the 2010 health-care law will be closed to new applicants as soon as Saturday and no later than March 2, depending on the state.
U.S. scientists led by Prof Genhong Cheng of the University of California Los Angeles have identified a natural protein with broad virus-fighting properties that could be used against deadly pathogenic viruses such as HIV, Ebola, Rift Valley Fever, Nipah and others.
Would you be surprised to hear that the human race is slowly becoming dumber, and dumber? Despite our advancements over the last tens or even hundreds of years, some ‘experts’ believe that humans are losing cognitive capabilities and becoming more emotionally unstable. One Stanford University researcher and geneticist, Dr. Gerald Crabtree, believes that our intellectual decline as a race has much to do with adverse genetic mutations. But there is more to it than that.
The union’s anti-testing push is part of a broader campaign by teachers unions nationwide. Teachers at one Seattle high school recently went on strike, refusing to administer a test that they feared would be used to hold them accountable