Keyword: cre

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  • Leaving EU would be 'a jump into a void' for the UK

    01/16/2016 11:42:57 PM PST · by Berlin_Freeper · 11 replies ^ | January 17, 2016 | bbc
    A vote for Britain to leave the EU would be a "jump into a void", according to the head of a new pro-European Conservative campaign group. Former minister Nick Herbert has launched Conservatives for Reform in Europe (CRE) to argue the case for the UK to stay under renegotiated terms. Meanwhile, the education secretary is also warning young people could be "cut off from the world" if the UK leaves. David Cameron has said ministers can campaign on either side of the debate. The PM's push to renegotiate Britain's terms of membership of the EU is expected to come to...
  • More On The Endoscope-Related CRE Outbreaks

    03/10/2015 10:36:35 AM PDT · by Oldpuppymax · 3 replies
    Coach is Right ^ | 3/10/15 | Michael D. Shaw
    on this topic generated plenty of interest (despite the small number of posted comments), so we continue our coverage… Yet another prestigious hospital joins the ranks of those reporting Carbapenem resistant enterobacteriaceae (CRE) infections, linked to endoscopic retrograde cholangiopancreatography (ERCP) endoscopes. On March 4th, Cedars-Sinai Medical Center in Los Angeles discovered that four patients were infected with CRE, and 67 others may have been exposed. Lisa McGiffert, director of the Safe Patient Project at Consumers Union, and a longtime activist regarding hospital-acquired infections, said that “It’s highly likely many hospitals around the country have had outbreaks, and they haven’t been...
  • Deadly "Superbug" Poses Threat to 179 UCLA Hospital Patients

    02/19/2015 4:20:40 AM PST · by Colofornian · 3 replies ^ | Feb. 19, 2015 | William Avila
    NBC4’s Dr. Bruce Hensel answers questions about enterobacteriaceae bacteria, which may have contributed to the deaths of two patients at Ronald Reagan-UCLA Medical Center. Medical equipment tainted with a deadly "superbug" may have contributed to the deaths of two patients at Ronald Reagan-UCLA Medical Center, and dozens of other patients may have been infected with the drug-resistant bacteria as well, officials said Wednesday. UCLA Health System officials said 179 patients had been notified about the exposure, which took place between October 2014 and January 2015. The patients were treated for digestive ailments ranging from gallstones to cancers. Doctors used a...
  • U.S. Q3 Earnings Warning Ratio 2nd Worst Since 2001 (Declining Real Incomes And Participation)

    09/30/2013 4:01:09 PM PDT · by whitedog57 · 11 replies
    Confounded Interest ^ | 09/30/2013 | Anthony B. Sanders
    Ugh. Companies issuing negative outlooks for the 3rd quarter outnumber positive outlooks by 5.2-to-1. NEW YORK – U.S. companies are warning about third-quarter earnings at a rate lower than last quarter but still at the second highest level since 2001, leaving estimates well below what they were just three months ago. Companies issuing negative outlooks for the quarter outnumber positive ones by 5.2-to-1, the most negative since the 6.3-to-1 ratio in the second quarter. The second-quarter ratio is the worst since the first quarter of 2001. The third quarter would be the second worst since 2001, according to Thomson Reuters...
  • CDC: 'Nightmare bacteria' spreading

    03/06/2013 5:55:51 PM PST · by oxcart · 67 replies
    CNN ^ | 03/06/13 | William Hudson,
    Hospitals need to take action against the spread of a deadly, antibiotic-resistant strain of bacteria, says the Centers for Disease Control and Prevention. The bacteria kill up to half of patients who are infected. The bacteria, called carbapenem-resistant Enterobacteriaceae or CRE, have increased over the past decade and grown resistant to even the most powerful antibiotics, according to the CDC. In the first half of 2012, 200 health care facilities treated patients infected with CRE. "CRE are nightmare bacteria," CDC director Dr. Tom Frieden said in a statement. "Our strongest antibiotics don't work and patients are left with potentially untreatable...
  • Rare Superbug Spreads in US

    02/27/2013 4:58:19 PM PST · by Doogle · 37 replies
    FOX NEWS ^ | 02/27/13 | FOX
    The Centers for Disease Control and Prevention is alerting clinicians of an emerging untreatable multidrug-resistant organism in the United States. There are many forms of Carbapenem-resistant Enterobacteriaceae (CRE), but of the 37 forms reported in the U.S., 15 have been reported in less than a year. The CDC said the increase in CRE means health care providers need to “act aggressively to prevent the emergence and spread of these unusual CRE organisms.” Enterobacteriaceae lives in water, soil and the human gut. These “surperbugs” have developed high levels of resistance to antibiotics – even carbapanems. Individuals who usually develop CRE infections...
  • Reports of rare superbug jump in US, CDC says

    02/27/2013 7:56:45 AM PST · by chessplayer · 13 replies
    A sharp jump in the number of rare but potentially deadly types of a superbug resistant to nearly all last-resort antibiotics has prompted government health officials to renew warnings for U.S. hospitals, nursing homes and other health care settings. The move comes just as researchers in Israel are reporting that people colonized with dangerous CRE -- Carbapenem-resistant enterobacteriaceae -- can take more than a year before they test negative for the bacteria, making it more difficult to control -- and raising the risk of wider spread. Reports of unusual forms of CRE have nearly doubled in the U.S., the Centers...
  • New Bacteria Raises Concern

    12/03/2012 1:31:48 AM PST · by neverdem · 167 replies
    KDLT ^ | November 29, 2012 | Laura Monteverdi
    A deadly bacteria known as Carbapenem-Resistant Enterobacteriaceae, or CRE, is raising concerns in the medical community. Jennifer Hsu in an Infectious Disease Physician at Sanford Health and has been closely studying this 'super bug' which is best known for it's ability to defy even the strongest of drugs. “What has happened over time with increasing exposure to antibiotics the bacteria have developed ways to evade those antibiotics and they become resist to a certain class of antibiotics,” said Hsu. In the United States, the bacteria have been found primarily in healthcare facilities and hospitals and are known to prey on...
  • Spanish and Italian commercial real estate markets meltdown

    08/14/2012 6:07:38 AM PDT · by TigerLikesRooster · 7 replies
    American Thinker ^ | 08/13/12 | Rick Moran
    August 13, 2012 Spanish and Italian commercial real estate markets meltdown Rick Moran My jaw dropped when I read this Financial Times report on the commercial real estate markets in Spain and Italy: The Spanish and Italian commercial property markets have all but collapsed with the number of transactions in both countries falling more than 90 per cent in the three months to July as investors worry about the future of the eurozone. Only three property transactions were registered in Spain during the second quarter, down from 58 deals in the previous quarter. In Italy the slide was even more...
  • Accessing Capital for Commercial Real Estate Is Difficult in the New Normal

    05/05/2011 8:10:24 AM PDT · by TigerLikesRooster · 2 replies
    RE Journal ^ | 05/04/11 | Richard Gatto
    Accessing Capital for Commercial Real Estate Is Difficult in the New Normal May 04, 2011 | Staff Writer By Richard Gatto Executive Vice President – The Alter Group With the nation’s banks sitting on between $1.2 and $1.3 billion worth of capital, they are nevertheless reluctant to lend on commercial real estate because of the elevated level of risk and current valuations of properties already on their books. Many banks own portfolios of commercial real estate whose valuations have declined significantly and do not want to increase their exposure. Currently, banks are under pressure to de-leverage and raise their book...
  • Commercial Real Estate Clouded by Delinquencies

    05/05/2011 8:07:28 AM PDT · by TigerLikesRooster · 10 replies
    CNBC ^ | 05/04/11 | Diana Olick
    Commercial Real Estate Clouded by Delinquencies Published: Wednesday, 4 May 2011 | 1:28 PM ET By: Diana Olick CNBC Real Estate Reporter Barely a few minutes after reading an article in the Wall Street Journal about banks finally opening the "spigot for commercial real-estate," the folks over at Trepp issued their monthly report on the delinquency rate for commercial mortgage backed securities (CMBS); let's just say it isn't good. After two months of very minimal rate increases, the number jumped in April, 23 basis points, to 9.65 percent, "the highest reading in the history of the CMBS market," according to...
  • Commercial Real Estate Breathes Life Into a Moribund Market(JPM securitizing CRE)

    03/03/2011 7:39:07 AM PST · by TigerLikesRooster · 5 replies
    NYT ^ | 02/28/11 | SUSANNE CRAIG
    February 28, 2011, 3:37 pm Commercial Real Estate Breathes Life Into a Moribund Market By SUSANNE CRAIG A crucial part of the securitization market — the Wall Street credit machine that helped set off the financial crisis — is kicking back into gear. In the last few weeks, a number of big banks have successfully bundled and sold new securities backed by commercial real estate loans. Morgan Stanley and Bank of America completed a $1.55 billion deal last month that included office and retail properties. So far this year, financial firms have sold about $5 billion of commercial mortgage-backed securities,...
  • Commercial real estate brought down failed banks in February

    03/02/2011 7:41:29 AM PST · by FromLori · 21 replies · 1+ views
    Housing Wire ^ | 3/1/2011 | JON PRIOR
    Of the nonperforming loans on the balance sheets of the 12 banks that failed in February, 72% were for commercial real estate, according to analytics firm Trepp. There have been 23 bank failures in 2011, but Federal Deposit Insurance Corp. Chairman Sheila Bair said closings this year will not surpass the 157 shuttered in 2010. That was an 18-year high, which Bair said will prove to be the peak coming out of the financial crisis. Analysts at Trepp estimate that there should still be more than 100 failed institutions by the end of 2011, however. Most of the February failures...
  • Moody's finds commercial real estate eluding recovery

    02/23/2011 12:27:52 PM PST · by FromLori · 3 replies
    Housing Wire ^ | 2/22/2011 | CHRISTINE RICCIARDI
    After three consecutive months of increases, commercial real estate prices fell 0.9% in December, according to Moody's Investors Service. This up and down activity is leading analysts to say any recovery in the space is hard to pin down. According to the latest commercial property price index from the rating agency, prices at the end of December slumped 42.1% below their peak hit in October 2007. Prices throughout last year also fell 2.1% compared a year earlier.
  • Maturing Commercial Mortgage Loans A Big Headache For Business Owners

    02/06/2011 9:20:01 PM PST · by FromLori · 16 replies
    Thousands of commercial mortgage loans worth north of $200 billion will have to be re-financed or paid in full in the coming months, giving business and commercial property owners and the banks that hold these loans some major anxiety. Listen closely. The faint ticking in the background of the jubilant, media-fueled celebration of America's statistical economic recovery is yet another mortgage time bomb set to explode in our faces and ruin the party. Much has been written and said about the continued problems in residential real estate arena, but the destructive force of defaulting commercial mortgage loans and evaporating equity...
  • CRE "extend and pretend" reaching breaking point

    02/01/2011 6:12:18 PM PST · by FromLori
    Housing Wire ^ | 1/31/2011 | JACOB GAFFNEY
    For 2011, 10 of the 11 banks that have closed so far showed bad commercial real estate loans taking the lion's share of the distressed loan book. In six of those cases, losses on bad construction loans made up more than half of the bank's nonperfoming loans. According to Trepp Analytics, CRE loans comprised $600 million, or 82% of the $732 million in nonperforming loans. For the past two years, lenders followed a trend of refinancing the terms of the loan, in a strategy called "extend and pretend."
  • Commercial property loans pose new threat

    12/31/2010 7:08:26 AM PST · by FromLori · 18 replies
    Financial Times ^ | 12/30/2010 | Gillian Tett
    What will happen to the financial system if US interest rates keep rising? That is a question many investors are pondering, given the recent sharp upward swing in US Treasury yields. There is plenty to fret about: higher rates could hurt US homeowners, for example, as well as delivering more pain for struggling municipalities. However, there is another sector that investors should watch: commercial real estate. During the past three years, the CRE sector has not generally grabbed much attention, because events there have not been as dramatic as in subprime (in 2007-08) or sovereign debt markets (in 2010) But...
  • U.S. government mulls luring foreign property owners(tax break 4 foreign CRE buyers)

    04/17/2010 7:42:07 AM PDT · by TigerLikesRooster · 8 replies · 355+ views
    Reuters ^ | 04/16/10 | Ilaina Jonas
    U.S. government mulls luring foreign property owners Ilaina Jonas - Analysis NEW YORK Fri Apr 16, 2010 4:36pm EDT NEW YORK (Reuters) - Tax breaks may not be enough of a sweetener to bring foreign buyers back into the flailing U.S. commercial real estate market, where falling rents, rising vacancies, a scarcity of debt financing and lack of property for sale have acted as deterrents. Congress is considering a move to lower or eliminate U.S. taxes currently imposed on foreign investors of U.S. commercial real estate, where the number of sales has fallen off a cliff over the past two...
  • Silverstein could default on midtown tower(defaulting CRE loan held by CA Teacher's Pension)

    03/10/2010 8:19:04 PM PST · by TigerLikesRooster · 6 replies · 353+ views
    Crain's New York Business ^ | 03/10/10 | Theresa Agovino
    Silverstein could default on midtown tower By Theresa Agovino Published: March 10, 2010 - 5:37 pm Developer Larry Silverstein, who has been feuding with the Port Authority of New York & New Jersey over building towers at Ground Zero, faces imminent default on one of his existing office buildings: 575 Lexington Ave. The $325 million balance of the loan on the building, which Mr. Silverstein holds along with the California State Teachers Retirement System, was transferred to a special servicer on Wednesday, according to Fitch Rating. Special servicers try to salvage troubled loans for lenders. The partners bought the building...
  • Barney Frank Asks Top Four Banks To Write Down Second-Lien Mortgages, Claims Have No Economic Value

    03/09/2010 7:37:41 AM PST · by TigerLikesRooster · 26 replies · 212+ views
    Zero Hedge ^ | 03/08/10
    Barney Frank Asks Top Four Banks To Write Down Second-Lien Mortgages, Claims Have No Economic Value Tyler Durden's picture Submitted by Tyler Durden on 03/08/2010 14:04 -0500 Full Barney Frank letter: Mr. Brian Moynihan Bank of America Mr. Vikram Pandit Citigroup Mr. James Dimon JP Morgan Chase Mr. John Stumpf Wells Fargo Dear Messrs. Moynihan, Pandit, Dimon and Stumpf: The mortgage foreclosure crisis that began over two years ago, and which continues to be a prime contributor to our nation's current economic downturn, burdens millions of hard-working American families. Congress and the Obama Administration have worked hard to address foreclosures...
  • Elizabeth Warren Introduces COP's February Report (almost 3,000 more banks will collapse)

    02/20/2010 12:49:36 PM PST · by FromLori · 10 replies · 864+ views
    You Tube ^ | 2/19/10
    In this report she talks about CRE loans coming due and how this will affect everyone.
  • Commercial Real Estate Losses Could Hit $300 Billion: TARP Panel(could topple 3000 banks)

    02/14/2010 3:51:58 AM PST · by TigerLikesRooster · 26 replies · 754+ views
    DSNews ^ | 02/12/10 | Carrie Bay
    Commercial Real Estate Losses Could Hit $300 Billion: TARP Panel 02/12/2010 By: Carrie Bay Losses from defaults on commercial real estate loans maturing in the next few years could go as high as $300 billion, threatening to topple nearly 3,000 community banks nationwide, a federal watchdog group has concluded. Market analysis by the Congressional Oversight Panel (COP), charged with keeping tabs on the government’s Troubled Asset Relief Program (TARP), shows that $1.4 trillion in loans made over the last decade for retail properties, office space, industrial facilities, hotels, and apartments will reach the end of their terms and require refinancing...
  • S&P: Real Estate Losses Put U.S. Banks at Risk of Downgrades (needs more bailout?)

    01/30/2010 6:29:16 AM PST · by TigerLikesRooster · 10 replies · 325+ views
    Money News ^ | 01/29/10
    Moneynews S&P: Real Estate Losses Put U.S. Banks at Risk of Downgrades Fri, 29 Jan 2010 02:40 PM Commercial real-estate losses could erode capital at U.S. banks, and ongoing government support may be necessary, especially if the economy worsens, Standard & Poor's says. "We also believe that the combination of elevated credit costs, higher capital requirements, and weak earnings could result in additional bank downgrades in 2010," the rating agency said in a report. Banks' earnings are an important source for replenishing capital worn away by credit losses. However, the mortgage and investment banking revenues that supported earnings during the...
  • It only gets worse this year for commercial real estate

    01/26/2010 7:16:54 PM PST · by FromLori · 2 replies · 396+ views
    McClatchy ^ | 1/25/10 | Kevin Hall
    Commercial real estate is expected to remain a drag on the U.S. economy through 2010 and beyond. "You do see stress in the market. We've seen delinquency rates increasing; we've seen by a whole variety of measures increased stress in the commercial real estate market," said Jamie Woodwell, the vice president of commercial real estate research for the Mortgage Bankers Association. Commercial real estate encompasses everything from shopping malls and storefronts to industrial parks and hotels. Delinquencies on bonds backed by pools of commercial real estate loans continue climbing to record levels. At the end of 2009, 4.9 percent of...
  • Tishman defaults on huge Stuy-Town loan(2nd largest CRE default in history)

    01/09/2010 2:43:22 AM PST · by TigerLikesRooster · 29 replies · 991+ views
    Crain's New York Business ^ | 01/08/10 | Theresa Agovino
    Tishman defaults on huge Stuy-Town loan By Theresa Agovino Published: January 8, 2010 - 1:11 pm Friday's announcement by the Tishman Speyer partnership that it was defaulting on the on the mortgage that paved the way for the $5.4 billion acquisition of Stuyvesant Town and Peter Cooper Village was long expected. But sorting out the future of the sprawling Manhattan residential development has only just begun. Tishman Speyer and BlackRock, the lead partners in the venture that owns the complex with roughly 11,000 apartments, said they would not make the full service payment due. However, they said that the failure...
  • Tough times for commercial real estate

    01/04/2010 9:06:24 AM PST · by FromLori · 11 replies · 625+ views
    Herald Tribune ^ | 1/4/10 | By KEVIN L. McQUAID
    o borrow a biblical expression, it may be easier these days to pass a camel through the eye of a needle than it is to get a commercial real estate loan. Despite federal bail-out money intended to stimulate lending, loans for investment in office buildings, shopping centers, industrial sites and raw land are increasingly rare, the result of falling values and other factors. Commercial property owners and mortgage brokers say the lack of capital also stems, in part, from new federal regulations intended to staunch foreclosures and halt the aggressive lending practices of the early 2000s. "It's ironic that the...
  • The Commercial Real Estate Default Wave is Here: Commercial Mortgage Defaults Now at 16 Year High.

    12/17/2009 3:01:41 PM PST · by FromLori · 34 replies · 1,231+ views
    My Budget 360 ^ | 12/17/09
    What has been lost in the housing talk recovery is the grim statistics that commercial real estate has fallen 37 percent in value in the last year. This wouldn’t be such a big problem aside from the tiny detail that some $3 trillion in commercial real estate loans are still outstanding. The commercial real estate debacle is already happening with defaults reaching 16 year highs. This is already occurring before many of the commercial real estate loans reach their refinance dates. In some instances banks are simply ignoring non-payment and giving borrowers a few more months or even years. Why?...
  • CMBS Delinquencies Soar, Led by Hotel Defaults: Trepp

    12/05/2009 5:14:25 AM PST · by TigerLikesRooster · 2 replies · 415+ views
    Default Servicing News ^ | 12/04/09 | CARRIE BAY
    CMBS Delinquencies Soar, Led by Hotel Defaults: Trepp 12/04/2009BY: CARRIE BAY The secondary market for commercial real estate is just beginning to show new life, with the first successful sale of a commercial mortgage-backed securities (CMBS) package in over a year and several new issues in the wings spurred by the strong investor interest on that initial offering. But the positives of renewed activity are tempered by more bad news on the performance of those commercial bond deals made before the freeze. According to a new report from commercial research provider Trepp, delinquent loans in commercial mortgage securities jumped 85...
  • What Dubai Means for U.S. Commercial Real Estate (Delay & Pray Can't Continue For Long)

    12/02/2009 1:48:16 AM PST · by TigerLikesRooster · 2 replies · 478+ views
    Wealth Daily ^ | 12/01/09 | Ian Cooper
    What Dubai Means for U.S. Commercial Real Estate "Delay and Pray" Can't Continue For Long... By Ian Cooper Tuesday, December 1st, 2009 /snip It's only a startling reminder of how fragile U.S. commercial real estate is, especially with certain U.S. properties sitting in Dubai World's portfolio. These include MGM Mirage and the $8.5 billion CityCenter project; the Mandarin Oriental and W hotels in New York; a 50% stake in the Fontainebleau Miami beach resort; and Barneys New York Inc. All Dubai has to do is unload some of its properties... and commercial real estate prices will plunge. It's already seen...
  • Default Rate for Bank-Held Commercial Mortgages Increases: Real Estate Econometrics

    12/02/2009 1:32:40 AM PST · by TigerLikesRooster · 4 replies · 370+ views
    Default Servicing News ^ | 12/01/09 | BRITTANY DUNN
    Default Rate for Bank-Held Commercial Mortgages Increases: Real Estate Econometrics 12/01/2009 BY: BRITTANY DUNN n the most recent report by New York-based Real Estate Econometrics (reeconometrics), the property research firm updated its projections, predicting the default rate for bank-held commercial mortgages will rise to 4.0 percent by the end of 2009 and will peak in 2011. Due to higher concentrations in commercial real estate, the largest losses are expected to occur at regional and community banks with $100 million to $1 billion in assets. Up from 2.88 percent during the second quarter, the national default rate for commercial real estate...
  • Realtors to push for more credit to commercial property (BOHICA; more bailouts)

    11/17/2009 1:44:17 AM PST · by TigerLikesRooster · 4 replies · 349+ views
    Market Watch ^ | 11/16/09 | Amy Hoak
    Realtors to push for more credit to commercial property Industry group's agenda shifts from home-buyer tax credits to lending issues By Amy Hoak, MarketWatch SAN DIEGO (MarketWatch) -- After successfully lobbying for an extended and expanded home-buyer tax credit, the National Association of Realtors will focus its policy agenda in the months ahead on relief from a credit crunch in commercial real estate, among other issues. "The commercial area is something that is going to be in the news more and more, as loans are rolled over and need to be refinanced," NAR senior vice president and chief lobbyist Jerry...
  • Commercial Real Estate Near Disaster: Fund Manager

    11/11/2009 4:51:39 PM PST · by FromLori · 7 replies · 731+ views
    CNBC ^ | 11/11/09
    Commercial real estate is somewhere between an orderly massacre and a disaster, William Mack, founder and chairman of Area Property Partners, a real estate investment fund, told CNBC. “Commercial real estate has over the last several months or few years taken a tremendous setback both in rents and in cap rates,” explained Mack. “I would say depending on the type of product, the value of real estate is down anywhere from 25 to 75 percent.” Formerly known as Apollo Real Estate Advisors, Area Property is an an international real estate fund manager with more than $50 billion invested in real...
  • 3 signs of the next real estate collapse

    10/22/2009 10:27:23 AM PDT · by TigerLikesRooster · 5 replies · 814+ views
    CNN Money(Fortune) ^ | 10/22/09 | Katie Benner
    3 signs of the next real estate collapse The latest bubble is about to burst, but this time it's in the commercial market. Here's how to see it coming. By Katie Benner, writer-reporter October 22, 2009: 10:16 AM ET NEW YORK (Fortune) -- When the FDIC closed Chicago's Corus Bank last month, it may have signaled the beginning of the next shock to the banking system: commercial real estate defaults. Corus, whose balance sheet was larded with bad construction loans, is just one of many banks that have a slew of this debt on their books. Refinancing the $2 trillion...
  • In the Eye of the Commercial Real-Estate Hurricane

    10/11/2009 3:21:34 AM PDT · by TigerLikesRooster · 11 replies · 968+ views
    WSJ ^ | 10/07/09 | Michael Corkery
    In the Eye of the Commercial Real-Estate Hurricane The Federal Reserve is worried that banks are slow to recognize commercial real-estate losses and is warning that the financial system may be headed for a new wave of painful write downs. Wait a minute. The last time Deal Journal checked with some analysts about the big banks’ real estate exposure they said the situation was improving. Here is Barclays’ takeaway from its banking conference last month. “Following commentary from our financial services conference, we believe commercial real estate prices may have bottomed for the time being, resulting in no meaningful markdown”...
  • The Tsunami Is Curling Over: CRE ($7 trillion at stake)

    09/01/2009 9:49:33 PM PDT · by TigerLikesRooster · 29 replies · 1,508+ views
    Market Ticker ^ | 09/01/09 | Karl Denninger
    The Tsunami Is Curling Over: CRE As Kirk said to Khan after being threatened with the loss of his life and vessel, with Khan demanding the "code" to the "Genesis device": "Here it comes." Of course what was "coming" wasn't the code, it was incoming fire. I have warned for more than two years that despite all the claims that "The government has this under control" that they do not - they were doing what so many people in government do - either lying outright or displaying tremendous hubris, believing that by waving their hands in the air and shouting...
  • Legal Watch Dog Group CREW Alleges Cheney Leaked Classified Information, Breaking Federal Law

    01/28/2004 10:16:08 AM PST · by Tumbleweed_Connection · 17 replies · 784+ views
    BUSINESS WIRE ^ | 1/28/04
    Jan. 28, 2004--Earlier today, Citizens for Responsibility and Ethics in Washington, a non-profit legal watchdog group, sent a letter to President Bush asking that he call upon the White House Counsel to investigate Vice President Cheney's confirmation of leaked classified information in an interview with the Rocky Mountain News on January 9, 2004. Federal law prohibits leaking classified information. Confirming information that has already been leaked is also prohibited. In his Jan. 9th interview, Mr. Cheney referred his interviewer to a story that appeared in The Weekly Standard's November 24, 2003 issue. The story, written by Stephen F. Hayes, discussed...