Still mad over the selection of Tougaloo College as the home of the Civil Rights Museum, the Jackson Free Press pens an article that can't even be classified as journalism:
"Rumors are circulating that Tougaloo College may have to abandon site development of the Mississippi Civil Rights Museum near the college's campus because of funding issues.
"I know I have heard from a source with city government that Tougaloo is supposed to be having some issues securing enough money to continue with the development," Ward 2 Councilman Chokwe Lumumba told the Jackson Free Press. "I wish the college well in its endeavor to make the museum a reality, but I have heard from a source that the money to fund it isn't turning out very easy to acquire with the economy like it is." article?
No sources, just a report of "rumors". THIS is ethical journalism?
Tuesday, August 11, 2009
Is this journalism?
Harvey: It's called accountability
Seems our new Mayor ran into a couple of members of the City Council who are intent on keeping an eye on the city payroll and he didn't like it:
"Mayor Harvey Johnson Jr. faced off against City Council members on Monday by refusing to provide a weekly accounting of city payroll
For years, council members - who approve payroll - have gotten a weekly list of employees and their salaries before their vote. Johnson said he no longer would provide that list because assembling it is "onerous." Johnson bristled under questions from Ward 1 Councilman Jeff Weill, who routinely asks detailed questions about the weekly payroll and claims dockets that add up into the millions of dollars. Johnson said Weill was meddling in executive department affairs. "You are getting into management of the day-to-day operations," he said.
"There are prerogatives that the mayor has and prerogatives that the council has. ... Those have been out of sync."...
Johnson said it may be possible to present the council with a quarterly list of city employees."
Article
Sorry Harvey, but the City Council has every right to inspect what you are asking them to approve, although a monthly payroll would probably be an acceptable compromise. In case you haven't noticed, city finances are a wreck and tax revenues will probably decline for the next twelve months or more. It is the responsibility of the Council to hold the executive branch accountable for how money is spent and how many employees are on the payroll. It's OUR money and we aren't going to listen to any politicians who just say "trust us".
Schiff: healthcare bill is fascism
Worth listening to. Just remember, he NAILED this economic crisis three years ago when everyone literally laughed at him.
Monday, August 10, 2009
OK Ladies, Let's Have Our Own Vote!
Forget gangsters and mobsters. Movies are meant to make you smile, laugh, cry and/or miss your first love.
Vote on your favorites in the poll on right. (Stiletto, you can sleep at night now).
Thinking of modifying your mortgage? Read the fine print
Martin Feldstein, once President Reagan's Chairman of his Council of Economic Advisors, pens some ideas in the Wall Street Journal about how the government can remedy the housing crisis. Some of the proposals are good ones, as he focuses on the principal, as opposed to Obama's approach, which focuses more on the interest rate. However, there is one little part that would sabotage the whole deal and is something used currently in some modifications:
"defaults happen because in the United States, unlike almost every other country, mortgages are effectively no-recourse loans. If a homeowner defaults, the creditor can take the house but is unable to take other assets or income to make good on the remaining unpaid mortgage balance. In some states creditors have the legal right to pursue other assets or income. But personal bankruptcy rules limiting what they can take give them little incentive to do so. No-recourse mortgages increase foreclosures, resulting in more properties being thrown on the market, and lead to an excess decline in house prices....
Any homeowner with a loan-to-value ratio over 120% could apply for a reduction in his mortgage balance. The government and the creditor would then share equally in the cost of writing the loan balance down to 120% of the value of the home. But the homeowner who opts for this write-down would be obliged to convert the remaining mortgage to a loan with full recourse that could not be discharged in bankruptcy. Federal legislation would be needed to modify state mortgage and bankruptcy rules to allow homeowners to obtain the new type of mortgage..." Column
The banks get bailouts. The Fed bails out Fannie and Freddie. Everyone gets a bailout except for the drowning homeowner who must pay several pounds of flesh to Shylock while Shylock is living high on the hog because the same homeowner's taxes bailed him out. It is also prudent to check the fine print in any proposed modification, as some servicers are already requiring homeowners agree to these clauses before they obtain any relief. This suggestion is a bad idea for homeowners as they will be at the complete mercy of the banks regardless of their personal circumstances. Get sick and can't make the house note? Tough luck, the bank is coming for your paycheck. Lose your job and lost the house? Don't worry, they'll just garnish your unemployment benefits.
As for the Obamabots, someone should ask them why Obama and the Democrats haven't changed the bankruptcy laws while they dump hundreds of billions into the banks who put us in the mess while the little guy continues to get screwed. Now if they did change the bankruptcy laws, THAT would be some real change.
Waller & Hosemann lead primary poll.
Very interesting. I put up a 'lil ole poll about Republican candidates for Governor in 2011 and the results were very interesting, to say the least. Mississippi Supreme Court Justice Bill Waller edged out Secretary of State Delbert Hosemann by two votes. Even more curious was Hoseman and Waller both doubled the amount of votes for the acknowledged front-runner for the job, Lieutenant Governor Phil Bryant. Just as interesting was the fact Chip Pickering, previously touted as a leading candidate for the job, only received 13 votes, only 3%.
Phil Bryant | 60 (17%) |
Delbert Hosemann | 112 (33%) |
David Landrum | 4 (1%) |
Amy Tuck | 19 (5%) |
Chip Pickering | 13 (3%) |
Greg Harper | 12 (3%) |
Billy Hewes | 4 (1%) |
Bill Waller | 114 (33%) |
Update on your favorite case
I reported Friday the Irby file was not in the Circuit Clerk's office but instead was in the possession of Judge Tomie Green. I spoke to her administrator this morning and was told the file was not under seal but that Judge Green was reviewing it. It will, of course, be interesting to see how long the "review" is.
Click Here to Read More..
Newest poll: Favorite gangster movie.
Vote for your favorite. Sorry, no Godfather III, it doesn't deserve to be listed in any such poll.
Click Here to Read More..
This is the guy who runs your economy
Don't forget Geithner is his protege.
Sunday, August 9, 2009
Congrats to Y'all Politics
Alan "Maddawg" Lange gets some street cred as Sid Salter pimps his website in the Clarion-Ledger today. Last year the newspaper published a similar interview with NMC of FOLO fame. Nice to see some of us are finally getting noticed by the media.
Click Here to Read More..
Mortgage industry catastrophe looming?
Two disasters took place in the mortgage industry this week. Mortgage lender Taylor, Bean, & Whitaker ceased operations and Colonial Bank became the subject of a criminal investigation. TBW was the twelfth largest lender overall and the third largest in FHA originations. HUD suspended TBW Monday from selling or servicing FHA-insured mortgages. The Wall Street Journal reported HUD terminated its relationship with TBW because "Taylor Bean failed to submit a required annual financial report and to disclose to the FHA “certain irregular transactions that raised concerns of fraud.” Thousands of borrowers found themselves stranded at the closing table as loans that had closed but not funded became worthless paper. Purchases were delayed as desperate borrowes were forced to obtain financing from other lenders. These homebuyers will probably pay more money as they will have to pay for another appraisal, a different set of fees, and a different interest rate.
While the mortgage industry can survive the closure of TBW, it will have a more difficult time surviving the closure of Colonial Bank, which is currently under a criminal investigation by the federal government. The Montgomery, Alabama-based bank is the largest issuer of credit lines to mortgage lenders nationwide.
Many mortgage companies and lenders use credit lines (also called warehouse lines) to fund mortgages. After closing, the loan "sits" on their line of credit until it is sold to a servicer such as Citi or Well Fargo. Credit lines are the lifeblood of the mortgage industry as most mortgage lending would come to a screeching halt if they disappeared. Unfortunately for the mortgage industry, The New York Times reports the feds are investigating this very part of Colonial's operations:
"In a regulatory filing, the company said the Alabama State Banking Department might appoint the Federal Deposit Insurance Corporation as receiver or conservator for its banking unit after Aug. 12.
Earlier this week, the agency that investigates misuse of federal bailout money raided Colonial’s mortgage warehouse lending division in Orlando, Fla. The Securities and Exchange Commission also issued subpoenas to the company seeking disclosures related to its participation in the Troubled Asset Relief Program and its accounting for loan-loss reserves."
Article
A seizure by FDIC would make Colonial the sixth-largest bank failure in American history. There are many lenders sitting on pins and needles right now. If the warehouse lending division ceased operations, these same lenders (many of which are small banks and local mortgage companies) will probably be forced out of business as Realty Mortgage was a few months ago when Bank of America cancelled its credit line. Some will say that is just an opportunity for competitors to grab market share. Such uninformed thinking ignores the fact that the resulting demand will completely overwhelm the markets capacity for underwriting, funding, and servicing mortgages. The surviving lenders don't care about market share when it takes 60 days to get a file underwritten and everyone is screaming at them for being so slow. Market share doesn't mean much when the lender's systems shut down because the demand to lock loans was twice its capacity, causing everything to crash.
What probably needs to happen is either the Fed, Fannie, or Freddie needs to prepare to start issuing lines of credit to qualified lenders. Unfortunately, this means the Fed would be regulating non-depository institutions, which is very controversial. Keep your eyes on Colonial Bank for the next few weeks as its going to determine the fate of the mortgage industry.
Saturday, August 8, 2009
If Frank Melton was white............
Warning: This video is really creepy.
Food Fight!!!
Over at Jim Craig and Matt Eichelberger's blog, Yours truly and you know who get into it.
Click Here to Read More..
Mish: "Unemployment likely to continue rising"
The government said yesterday unemployment was at 9.4%, giving them a reason to celebrate. Never mind that each month this year the figure has been revised each month and is always in a negative direction. Financial blogger "Mish" Shedlock had a few things to say about this report:
" The official unemployment rate is 9.4% and rising. However, if you start counting all the people that want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out, etc., you get a closer picture of what the unemployment rate is. That number is in the last row labeled U-6. (Mish analyzes many tables in his column. Well worth reading.)
It reflects how unemployment feels to the average Joe on the street. U-6 is 16.3%. Both U-6 and U-3 (the so called "official" unemployment number) are poised to rise further although most likely at a slower pace than earlier this year.
Looking ahead, there is no driver for jobs and states in forced cutback mode are making matters far worse.
Unemployment is likely to continue rising until sometime in 2010."
Rest of Mish's analysis
Over at The Market Ticker, Karl Denninger points out the labor participate rate fell by .2%, Add it back in and the unemployment figure is 9.6%, not the ballyhooed 9.4% figure.
Friday, August 7, 2009
We are the priests..........
Some you know who......... and something for you Libertarians....
Here is copy of Irby gag order, file not in Circuit Clerk's office
Copy of Judge Green's order
I linked a copy of Judge Green's gag order in the Irby case. It states:
"This Court reminds and Orders (Court's emphasis) all officers of the Court to strictly comply with Rule 9.01, Pretrial Publicity, of the Mississippi Uniform Rules of Circuit Court and County Court Practice or be subject to sanctions by the court..."
I also included in the link a copy of the notice for the "Omnibus Hearing" set for February 15, 2010. It should be noted that the Irby file is NOT in the Hinds County Circuit Clerk's office. In its place was a red file containing the above order and notices. It is unknown if Judge Green sealed the file or is only reviewing it and will return it to the public domain. If Judge Green sealed it, such judicial conduct should not be allowed to stand as the public has a VERY STRONG interest in what takes place in this case. The public has a right to read the indictment and any appropriate motions or other documents. Such conduct gives an appearance that actually harms Mrs. Irby's cause and thus harms her defense. Judge Green should return the file to the Circuit Clerk.
Additional commentary by NMC: NMC's Column
Note: Calls to Judge Green's adminstrator were placed today. There was no answer.
Shylock comes for his pound of flesh
Jefferson County is bankrupt. It laid off two-thirds of its employees this week and its government is close to being non-existent. The crisis was caused by the county's decision to refinance its water and sewer bonds with financial derivatives known as interest-rate swaps, something Jackson is considering right now (see posts on this subject in lower sidebar). The Wall Street Journal reported Jefferson County's woes are of no concern to Wall Street as it wants not just the blood but the turnip also:
NEW YORK (Dow Jones)--The Bank of New York Mellon Corp. (BK) Monday filed suit against Alabama's financially-strapped Jefferson County, seeking to expedite payments for holders of the county's $3.2 billion in outstanding debt.
The bank, which is the trustee for the owners of Jefferson County's auction-rate and variable-rate debt issued by the sewer system, argues the county failed to pay $331.7 million in principal payments on warrants due for redemption since June 2008.
In a complaint filed this week with the Circuit Court of Jefferson County, BNY Mellon asked to appoint a receiver, or custodian, for the county's sewer system. It also seeks a court order that would require the county to raise sewer fees and levy other charges to pay bondholders.
BNY Mellon also says in the suit that the county has failed "to operate the system in a manner that will generate net revenues sufficient to service the county's warrant obligations," and that the work on the county's sewer system has been "fraught with fraud and abuse."
The most densely populated county in Alabama, Jefferson's finances have been in dire straights after it placed interest rate bets using derivative instruments that backfired. The derivatives were meant to help the county lower its financing costs.
Since last summer, the county has been struggling to meet payments and keep up with services. In an effort to raise funds, the county tried to impose an occupational tax that was ruled invalid by a circuit court judge earlier this year.
As a result, this week Jefferson County furloughed roughly one-third of its 3,000 employees.
The 36-page lawsuit points out that 21 former county officials and three former county commissioners have been indicted or convicted of crimes related to work on the system.
The Bank of New York Mellon lawsuit follows a similar lawsuit last fall in the U.S. District Court for the Northern District of Alabama, involving the bank as well as municipal bond insurance companies Financial Guaranty Insurance Company, Syncora Guarantee Inc. and XL Capital Assurance. The court said in June it lacked jurisdiction to grant the request.
Standard & Poor's Ratings Service Monday warned it could lower its junk bond rating on the county's sewer system revenue bonds to default status if the county misses principal or interest payments on outstanding auction-rate bonds. S&P in April 2008 lowered its rating to default status on certain of the county's variable-rate debt because it missed a principal payment.
Moody's Investors Service has a junk rating on all of Jefferson County's outstanding sewer revenue debt."
Harvey: Hope you are paying attention.
Thursday, August 6, 2009
I report, you decide.
She is saying something about um, something. Guess I'll have to watch it a few more times figure out what it is.
NMC: "A real disaster"
NMC's criticism of Judge Green's order
NMC makes it quite clear he does not like Judge Green's order requiring the attorneys in the Irby case to file all motions with her first as she will decide what appears in the public file with the Circuit Clerk:
"This inverts the normal rule– a lawyer files a motion and it’s public record unless the Court is asked to seal it. What is going on here?
Are we about to see cases in which the presumption is that proceedings are under seal unless the court rules otherwise? With a supine press verging on bankruptcy, this is terrible, terrible news.
There’s Karen Irby news in Kingfish’s post. But this ruling from Judge Green is a real disasster for public scrutiny of government."
Legal Expert or Media Hound?
The issue of whether any judicial corruption took place in the Robbie Bell prosecution is settled now that Professor Matt Steffey has spoken to us from Mount Sinai. The Robbie Bell prosecution was a reunion of sorts for the Ed Peters gang: Tom Royals (Ed Peters' former partner and defense attorney, George Bell, III's lawyer), Cynthia Speetjeens (defense attorney for Robbie Bell and Bobby DeLaughter and prosecutor under Peters), Tommy Mayfield (George Bell, III's lawyer and prosecutor under Peters), Bobby DeLaughter and Ed Peters. Then there was the matter of Peters' friend Frank Melton putting pressure on JPD to make the case "go away" as sources have told JJ.
Judge DeLaughter heard Ms. Bell's arraignment and was scheduled to preside over her trial when he was removed from the bench. After reading Eaton, Kirk, other cases such as Shelton, it doesn't take a genius to figure out what was going on here after reading through the police reports on the Heather Spencer murder posted last week. There is a reason one gets Ed Peters for a lawyer and gets the case assigned to his boy. However, Rat Stiffey states: "I think there is no reason at all to believe that Judge DeLaughter in any way conspired with Ed Peters.. or anybody else in disposing of the charges against Ms. Bell."
Really Professor Steffey? Let's look at the facts. Steffey didn't practice law in Hinds County, much less try criminal cases, but instead practiced for a short while in Florida very early in his career. He has been a professor for over twenty years. Regular lawyers know his type: such professors in the Never-never-land that is the law school classroom, while they are slugging it out in the trenches with clients, prosecutors, and judges, getting their hands dirty while the pretty-boy REMF's go on t.v. and appear as experts. The real lawyers know who is in whose pocket or which lawyers are connected, while the "expert" talks about theory. Steffey was not even an authority on criminal law. The only reason he became a criminal law professor was that in the late 90's a professor left, so MCSOL assigned him to teach criminal law classes. Prior to this charge, he taught Constitutional Law, Admiralty, and other non-criminal law courses. The media began interviewing him as an "expert" because he was the local criminal law professor and they needed someone who can go on camera on short notice.
If he was a real lawyer and practiced criminal law while Ed Peters was District Attorney, he would know some of the garbage that went on under Peters' tenure in the Hinds County District Attorney's office. How prosecutors saw their cases reassigned to other prosecutors who then dropped the charges if his little pets just happened to be the lawyers representing the defendant. How Peters would indict people "on a dare" to quote the Shelton case. How Peters was indicted several times while the Mississippi Bar looked the other way. Steffey merely shows his ignorance to the local legal community which laughed very hard when it heard this "expert opinion".
Wednesday, August 5, 2009
Green Orders Irby to Submit to Interview, Imposes Gag Order, Announces February "Omnibus Hearing"
It was a dark day outside in Jackson as storm clouds gathered today inside Judge Tomie Green's courtroom. Dark was the weather, dark was the demeanor of the attorneys, dark were the suits. Two sides sparring in opposing motions, one seeking the testimony of a material witness and the other using every trick possible to frustrate the prosecution.
Judge Green orders Stuart Irby to be available for September interview & imposes gag order
Will write more later but here are the highlights from the Irby hearing I attended today:
1. Hinds County Circuit Judge Tomie Green ordered Stuart M. Irby, Sr. be made available on September 16, 2009 for a 30 minute interview.
2. Judge Green gave his attorney, Ms. Lisa Binder, until August 31 to file any medical statements on Mr. Irby's condition or any limitations he requires during the interview.
3. Judge Green dealt with the standing issue. She told Ms. Binder she could be "present, but not particiapte.".
4. Judge Green is enforcing rule 9.01 and said she will "strictly enforce that rule".
5. Judge Green required both parties to file all motions with her first for her approval. She also stated her approval must be required before any motions can appear in the open file available to the public in the circuit clerk's office.
6. Judge Green ordered an omnibus hearing be held on Feburary 15, 2010 to consider and adjudicate all motions.
Will write longer post later.
Irby Wars: Episode ?: The State Strikes Back
Update: Copy of State's Response
The State filed a "Motion to Strike Lisa Binder's Esquire Response dated July 24, 2009 Due to Lack of Standing" yesterday in Hinds County Circuit Court (Motion will be made available later on JJ).
The State claims Ms. Binder's response should be stricken "as she lacks standing in this matter to assert a response." The State then makes the following points:
1. "On July 20, 2009, the State filed its Motion to Preserve the Testimony of Stuart Irby and its Motion to Allow Filing of Document Under Seal. The Motions were filed simultaneously and on the same date. The former motion was filed seeking the specific relief requested within, the latter was filed to protect the privacy interests of Mr. Irby."
2. Ms. Binder accused the State in her response of violating Mr. Irby's right to privacy as she claimed the State "apparently disseminated Mr. Irby's medical records without any authority or agreement from Mr. Irby or order of this Court." The motion responds in a strong manner: "These assertions by Ms. Binder are reckless, slanderous, and have absolutely no basis in fact" and that a "cursory inquiry by Ms Binder would have revealed" that his medical records were provided only to Joe Holloman (Mrs. Irby's lawyer), Ms. Binder, and the Court.
3. The State further seeks to rebut Ms. Binder's claim it "disseminated" Mr. Irby's medical records to the public: "The District Attorney's Office upon the filing of its original motion in the Circuit Clerk's office did not include Mr. Irby's medical records (I can verify that claim as they were not in the public file.) The omission of the medical records was an additional, precautionary measure to prevent any unauthorized "third person" (who?...me?) from obtaining access to Mr. Irby's medical records before the Court had an opportunity to review the State's motion to file this exhibit under seal. Ms. Binder's allegations are false, reckless, and disparaging on the reputation on the Hinds County District Attorney's office."
4. The State then argues "Lastly and most importantly, Mr. Irby is a material witness to not one, but two homicides. Mr. Irby was present in the car that collided with a vehicle from which all accounts was in the proper lane at the time of the fatal collision. Simply put, the District Attorney's Office has the right and a duty to speak with Mr. Irby about the specific events and circumstances surrounding the collision which led to the untimely deaths of Daniel Pogue and Lisa Dedousis. The information sought is known only to the defendant, and her husband Mr. Irby. The State concedes that while no witness can be compelled to speak with the District Attorney's Office, the District Attorney should be ablet o communicate from Mr. IRby directly- and not through a lawyer, as to whether he is willing to participate in this criminal investigation. Mr. Irby's civil liberties are not at stake as he is not the subject of a criminal investigation. Ms. Binder's presence to date has hindered the State's ability to effectively investigate this criminal matter should not be tolerated."
This is getting interesting.
Tuesday, August 4, 2009
Schiff on the market rally
Don't think anyone is laughing at him now. You might disagree with him but take him seriously.
Jefferson County faces Doomsday
It's finally happened: Jefferson County, Alabama faces Doomsday. Its finances have finally imploded, as the county will probably enter into bankruptcy:
"BIRMINGHAM, Alabama (Reuters) - Alabama's debt-ridden Jefferson County laid off about two-thirds of its 3,600 employees on Monday because of plummeting revenues, a move that will sharply curtail services in areas ranging from roads to courthouses.
The cuts are just the latest blow to Jefferson, whose population of 660,000 includes Birmingham, the state's largest city and its economic powerhouse. They come after the county racked up around $4 billion in debt by using exotic financial instruments to fund a revamp of its sewer system.
The work-force cuts will hit the roads and transportation, revenue and security departments, and reductions will also affect the courthouse and information technology department as well as laborers paid on an hourly basis, according to a senior county official...." Article
This angers me a little, as the media in Jackson has been negligent in its duty to report local city business of this nature to the public. Unless one reads this blog, watched a couple of minor stories on WLBT that didn't get into the details, or read the Northside Sun, one would have no idea Jackson is considering refinancing some of its bonds with these same "exotic financial instruments." Several reporters have told me it's over their heads, people don't care, or it's just too much to cover. The Clarion-Ledger is not interested in this story and the one publication that should cover it, the Mississippi Business Journal, is too busy writing puff pieces to make their advertisers happy, as it should be called the Business Edition of VIP Magazine or something similar. But hey, they support Jackson as they moved downtown, so in the eyes of Downtown Jackson Partners, which should be concerned about this matter, they are ok people.
Well, the article above is WHY they should cover this story. The time to report it is not after the budget has blown up and the people have no one left in city government but before it happens. No one in the media has grilled Rick Hill and asked him some tough questions. He has yet to explain what happens if the interest rates move the wrong way. He was once asked if what happened to Jefferson County could happen to Jackson. He said it couldn't but his answer makes one wonder if he even understood what took place in Alabama. Mr. Hill has not been forthcoming with details and still has not explained why the fees are much higher than the fees paid for the original underwriting of the bonds. All he has said is it can't happen here and to trust him. Sorry Mr. Hill, I've seen too many of these weapons of financial destruction cripple too many budgets around the country to accept that from a bureaucrat whose answers make me wonder if he even understands how these things work.
Don't take my word for as gospel on this subject. I have collected all my posts on this subject and placed them in a sidebar on the lower right-hand side of this blog page. If anyone in the media wants to cover this and doesn't understand the subject matter, contact me. I'll be more than happy to explain it to you, as on this subject I care more about the reporter just getting the story out there than giving me credit. I have posted all available public documents on these refinances (they were obtained through public records requests). Additional public records requests have been submitted for information on the revised proposal. Unless you want what is taking place in Jefferson County to happen here as well, it's time to quit whining how this is over your heads and start learning how this stuff works.
Monday, August 3, 2009
Housecleaning
Added Jim Craig and Matt Eichelberger's blog, Ipse Blogit, to the feeds in the center column. That gives me a couple of conservative local blogs and a couple of more liberal ones to balance it out along with the other feeds. The idea is to give you a good diversity of news and opinion if you skim through the feeds. Also updated the Heather Spencer sidebar and added two new ones for the municipal bond refinance and the Karen Irby case as quite a few posts have been written these subjects and I want to make it easier for the readers to access them.
Click Here to Read More..
Market Ticker gives you the rest of the story
Karl Denninger of the Market Ticker was on CNBC last week to discuss the GDP numbers. True to form, Kneale talked over him the whole time and wouldn't let him get a word in edgewise into the conversation. Here is his actual discussion later on the GDP report. Unlike CNBC, he actually delves into the numbers and translates them into plain English for you.
In his post yesterday, he points out FDIC is essentially broke. Post: "Is the FDIC broke and covering it up?" He will be on Kim Wade's radio show Wednesday. His weekly radio show is today at 3:30 on his website.
Sunday, August 2, 2009
Irby Attorney Replies to Prosecutor's Motion. The Drama Heats Up.
Lisa Binder, Stuart M. Irby's attorney, filed a response last week to the State's motion to compel testimony. Patrick Beasley, the Hinds County prosecutor, claimed in his motion Mr. Irby was a material witness, Ms. Binder said he had extensive medical injuries and could not talk to them, and the State states a need to obtain his testimony in case his condition deteriorated. Copy of Response to Motion
Ms. Binder's used very strong language and made some serious accusations in her filing:
"Mr. Irby is still in the process of recovery from traumatic brain injuries suffered in the collision. (Notice she doesn't use the word "accident".)..... The State apparently obtained Mr. Irby's medical records through post-indictment measures. Not only did the State obtain such records through post-indictment it apparently disseminated (emphasis added by Binder, hereafter emphasis added by me) without any authority or agreement from Mr. Irby or order of this court. The District Attorney's office did not deliver a copy of those medical records to counsel for Mr. Irby until after it filed the Motion, which was months after the State's receipt of them. By filing the Motion and Counsel's letter without seal, the State interjected confidential information regarding Mr. Irby's medical condition into these public proceedings, which ultimately, as could be reasonably anticipated, ended up published to the world. This conduct of the District Attorney's office is in contradiction to Mr. Irby's rights, the Mississippi Constitution, and HIPAA regulations...."
The District Attorney's office is clearly under pressure in this matter but it has crossed the line into overzealousness at the least. It has obtained and disseminated medical records post-indictment in a matter contrary to Mr. Irby's right to privacy, Federal Law, and HIPAA regulations.......
Wherefore, premises considered, counsel for Stuart Irby prays for a dismissal of the State's motion, and further prays for guidance of this Court with reference to the issues raised herein, including the State's use of post-indictment measures to procure medical records and the dissemination of medical records and/or information regarding Mr. Irby's medical condition without the order of this court."
After reading both motions one wonders if Ms. Binder is a drama queen or a brilliant attorney playing a hidden card. I suspect drama queen in this case because her answer overlooks one very important and highly relevant fact: the State filed Mr. Irby's medical records under seal! His records were never "disseminated" to the public, to quote Ms. Binder. The State refers to them as "Exhibit A" in its motion. However, there is NO "Exhibit A" in the motion filed in the Circuit Clerk's office. The reason for this is it was filed under seal with the court and is thus NOT available to the public. It appears the State made every effort to respect Mr. Irby's medical privacy and did not "disseminate" his medical records to the public.
This is a frivolous objection and Judge Green should treat it as such. Considering Mr. Irby is the victim in this case and the State is actually his lawyer, it has certain rights in regards to his medical records. Ms. Binder knows this all too well as for years she was known as one of the better attorneys in Jackson. If I was Mr. Irby, I would seriously debate whether I should pay Ms. Binder her fee for writing this motion as it's obvious she didn't do her basic research and is making false allegations in her answer that breach her duty to the court.
Note: It should also be observed that Ms. Binder, who now lives in Nashville, was one of the better divorce attorneys in Jackson as well as being a tough litigator.
No comment.
Check out the website for the American Consulate in Jerusalem. There is something not mentioned on it. Care to guess what it is?
Click Here to Read More..
Saturday, August 1, 2009
Saturday night open thread
Watching Exodus (starring Paul Newman) tonight and trying out an Argentinian Cab. Open thread.
Click Here to Read More..
Panasia voted Best Asian Restaurant in JJ poll
Panasia was voted the Best Asian Restaurant in the poll last week but it was close although I still can't believe Kroger sushi bar took second place. Disclosure: I voted for Little Tokyo.
Bonsai | 9 (4%) |
Ichibans | 13 (5%) |
Little Tokyo | 23 (10%) |
Nagoya | 22 (10%) |
China Bell | 6 (2%) |
Panasia | 33 (15%) |
Kyoto | 9 (4%) |
OEC | 0 (0%) |
Kroger Sushi bar (hehe) | 30 (13%) |
Sakurabana | 14 (6%) |
China Buffet | 3 (1%) |
Golden Dragon | 27 (12%) |
Sun Koon | 2 (0%) |
Ding How | 6 (2%) |
Saigon's | 5 (2%) |
Thai Kitchen | 11 (5%) |
Haru | 7 (3%) |
"The Arabic world is an intellectual outlier"
Ilan Berman writes in the American Spectator writes about how uneducated the Arab world is and how the population is prey for radical Muslims who have come to dominate education in Pakistan and other areas:
"Between the eighth and tenth centuries, Islamic thinkers pioneered significant new knowledge in mathematics and astronomy. The same period saw the translation and dissemination of classic books of literature and Greek philosophy throughout the Muslim world, and new inventions that aided technological and scientific discovery. Subsequent years, however, saw a systematic closing of the Muslim mind, as the “gates” of ijtihad -open, scholarly interpretation of Quranic texts—were “closed” and clerical authority replaced intellectual inquiry.
The cumulative effects of this change have been profound. Today the Muslim world suffers from a crisis of education—one that has systematically stripped that part of the world of the ability to compete in the “geography of ideas.” Exactly how deep this deficit runs is painfully clear. In its 2008 report on educational reform in the Middle East and North Africa, the World Bank notes that the countries of the region as a whole score far below countries like Chile and Estonia in every area of “knowledge”— from the skills and education level of their populations to the presence of an infrastructure that reinforces and rewards learning. Adult illiteracy in Arab states, meanwhile, stands at some 50 percent, nearly double that of the rest of the Third World.
Intellectual curiosity, meanwhile, is sorely lacking. As a whole, Arab countries translate “about 330 books annually, one-fifth of the number that Greece translates,” the UN Development Programme’s 2002 Arab Human Development Report pointed out. “The cumulative total of translated books since the Caliph Maa’moun’s time (the ninth century) is about 100,000, almost the average that Spain translates in one year.” The Arabic world, in other words, is an intellectual outlier, an area of the planet that has failed to keep pace with others in the arena of thought, ideas, and innovation..." Article
Two sides of the Pickering coin
It's interesting how different sides see the Pickering, um, affair currently being played out in the courts and media. Former star reporter now turned liberal curmudgeon Bill Minor fires away at Chip Pickering this week while taking a break from attending Al-anon meetings:
"The 45-year-old Pickering filed for divorce from Leisha in June, 2008, but the final decree has been sealed in what smacks of a cover up by the Madison County Chancery court......
Since Ms. Creekmore-Byrd resides in a posh Northeast Jackson neighborhood, Leisha’s lawsuit was filed in Hinds County. Significantly, Chip had moved in May out of his family’s Flora residence to a house just down the block from his alleged mistress. Creekmore had shed her former husband, a Dr. Byrd, in 2007.....
More will unfold on the extramarital career of Pickering, the family values lawmaking advocate, but betrayal of his former constituency already seems obvious." Column
Meanwhile the more conservative Madison County Journal defends Pickering while ignoring the role the judge played in this whole, um, affair:
"But, so far, there is no evidence whatsoever to suggest that Chip Pickering had an affair that led to the breakup of his marriage or that Gov. Haley R. Barbour offered him Trent Lott's U.S. Senate seat.....
The lawsuit reads like a Jerry Springer episode and the allegations have saddened the hearts of so many Madison countians who developed personal relationships with the Pickerings as they served this district and called Madison County home....
Chip Pickering the honorable? Yes, until there is credible evidence otherwise - and then and only then should he be subjected to a public stoning by any who are worthy to cast stones." Editorial
Friday, July 31, 2009
You ain't got no ice cream.
It's been a pretty heavy week on this website. Here is a little break.
Kidnap victim sues Robbie Bell
The kidnap victim in the Heather Spencer murder case filed a lawsuit in Hinds County Circuit Court last week against Robbie Bell, the mother of George Bell, III. Copy of lawsuit. She is suing Ms. Bell on the following counts: Negligence and Gross Negligence, Negligent infliction of emotional distress, Premises Liability, and Punitive Damages.
The plaintiff seeks "compensatory damages to make her whole. These damages include an amount to be awarded within the discretion of the jury at a trial of this case, to cover any and all injuries or damages the Plaintiff has suffered, including, but not limited to, any and all medical expenses including future medical expenses associated with the incident described herein, pain and suffering, court costs and attorneys' fees. Additionally, Plaintiff seeks an award of punitive damages in an appropriate amount to punish the Defendant and deter others from committing acts which are grossly negligent and in wanton and reckless disregard for the safety of individuals such as the Plaintiff, and should be assessed with punitive damages in an amount to punish defendants and deter similar conduct by others in the future. Plaintiff seeks any and all additional damages appropriate under the law and deemed by the Court to be just and proper. Plaintiff also seeks both pre-judgment and post-judgment interest."
The lawsuit claims Ms. Bell bore responsibility for the gruesome events of September 10 and 11, 2007. It lays the blame at Ms. Bell's feet, arguing she helped him avoid prosecution for the June 2007 beating of Ms. Spencer as she was instrumental in getting him admitted to a drug rehab facility out of state (and away from JPD jurisdiction by inference). It accuses Ms. Bell of pressuring Ms. Spencer to drop the charges she had filed against her son even though she knew of his "propensity for violence."
One question that has never been asked is why didn't the District Attorney's office prosecute Ms. Bell for helping George avoid prosecution for the June assault. She undoubtedly knew where he was. It is doubtful he found the facility all by himself and given his money troubles at the time, its also doubtful he paid for it. Ms. Bell knew there was an outstanding warrant for his arrest and no judge had dismissed the charges against her son.
The lawsuit also claims Ms. Bell breached her duty to the victim as she "took no action to call the authorities or to otherwise report her son's actions." The crux of the whole case will come down to two issues: what actions did Ms. Bell take to help her son avoid prosecution for the June beating of Ms. Spencer, and why she didn't call the police when given ample opportunity to do so on the morning of September 11, 2007. Indeed, Ms. Bell called James Bell she and George were leaving because they feared he would call the police (not to mention she refused to leave with him and the victim when given the opportunity to do so).
One of the main reasons this case has generated so much controversy is that no trial was ever held and thus the public was denied its right to know what happened. Hopefully this case will go to trial and finally the public will learn the truth about what took place when George Bell, III went on his rampage on that awful night.
WLBT last night on Jim Hood & Robbie Bell
Dayumn. WLBT News Director Dennis Smith brought it last night.
Thursday, July 30, 2009
Crime stats
Here are the Jackson, Ms crime stats for the week of July 13-19.
Click Here to Read More..
Court, JPD returns gun used in kidnapping to Robbie Bell
Update: Called Chancery Clerk's office. No power of attorney for George Bell, III or Robbie Bell is on file.
One sickening feature of the Heather Spencer murder is found near the end of the police report for the murder of Heather Spencer posted earlier this week on this website. JPD returned the gun George Bell, III used to kidnap Heather's roommate to his mother, Robbie Bell. Ms. Bell showed up at JPD with a cute little court order decreed on April 9, 2008 "the personal property taken into evidence from the home of Robbie Bell, the holder of the durable power of attorney of George Bell, III, shall be released and returned to Robbie Bell." Copy of court order and police report on return of firearms. Ms. Bell wasted no time in getting the guns back as JPD released them to her on the same day.
The fact that Ms. Bell was able to get the gun used to kidnap and threaten others returned to her is an outrage. If a gun is used in the commission of a felony, it should be forfeited unless the owner charges the person using the gun with theft. There is no way JPD should be able to legally return the .38 special used to kidnap Heather's roommate to Ms. Bell and is yet one more example of how justice continues to be abused in this case.
Wednesday, July 29, 2009
Hood claims Heather Spencer was strangled to death. Was she?
There is a serious question that needs to be asked in the Heather Spencer case: Why is Jim Hood claiming she was beaten and strangled to death? The Mississippi Attorney General stated in his press release announcing the guilty plea of George Bell, III "He went into rehab and, within 48 hours of getting out, he had raped her, beat her with a flashlight and strangled her until she no longer breathed. Heather gave her life trying to change the unchangeable.”
The only problem with that statement is the word "strangled" is never mentioned in the case until the day George Bell, III pleaded guilty to capital murder and kidnapping. Its not mentioned in the coroner's report, media coverage before that day, the police reports, nowhere. Yesterday's post stated:
Hinds County Coroner Sharon Grisham-Stewart reported the time of death as 3:00 AM (page 1). A cold chill runs through the body when reading the evidence list: shorts, panties, red stain swabs, a .38 special revolver, post-mortem prints, and a skull fragment. Dr. Hayne reported Ms. Spencer suffered "severe lacerations to the brain, stress fractures, forced anal penetration, and severe tearing of the rectum. The official cause of death was ruled a Homicide with the underlying cause being Cranium Subreial Trauma/Blunt force trauma to the head." Coroner's Report
JJ questioned Hood's statement last year in a post reporting on Bell's sentencing:
"I just saw something that caught my eye on the WAPT website:
"Bell admitted to kidnapping, sexually assaulting and then beating and strangling his girlfriend, Heather Spencer, to death. " http://www.wapt.com/news/15211732/detail.html
This very interesting for several reasons. This is the first time a possible strangling was mentioned. All other media coverage has omitted that word as it has been consistently reported Mr. Bell beat the late Heather Spencer to death and sexually assaulted her. It is strange suddenly today, Mr. Bell said under oath that he strangled Ms. Spencer.
If Ms. Spencer's death was caused by strangling, that would mean she probably died during Monday evening, not Tuesday morning. This is VERY important since Mr. Bell's mother, Robbie Bell, was indicted for being an accessory after the fact as the media reported it was possible Ms. Spencer died Tuesday morning, not Monday evening. Such a scenario would provide Ms. Bell with a possible defense as she would probably not at home when the attack occurred.
There is just one problem with this defense and it is the fact the autopsy established a time of death. Either she died earlier of strangulation, which would shut off the oxygen to the brain or she died of the beating. This is important as it has been alleged Ms. Spencer did not die for several hours. The coroner's report will state the cause of death and if the allegations are true, consequently, there remains a strong possibility a conspiracy between Mr. Bell and his mother exists and his statement he strangled Heather (the family was outraged when they heard this, one of the relatives started shouting it was a lie in the courtroom) is his attempt to get Robbie Bell off the hook."
Thus the question remains: Why did Jim Hood repeat a claim that was only made by the defense and not supported by any available evidence as fact?
Police report
Tuesday, July 28, 2009
Ed Peters Represented Robbie Bell
One previously unknown and highly relevant fact about the Heather Spencer case is that Ed Peters represented Robbie Bell when the investigation into the murder began. Detective Derrick Jordan states in his report:
"On 9-25-2007, I, Detective Derrick Jordan along with Sgt Eric Smith, Sgt. A. Cooper and Detective Sparkman meet with Attorney James, Kelly and Attorney Edward Peters in reference to this case. Mr. Kelly and Mr. Peters represent Ms. Robbie Bell. The purpose of this meeting was to obtain a statement from Robbie Bell in reference to the murder of Mary Heather Spencer..." Copy of statement
Ed Peters represented Robbie Bell. That fact alone should give everyone reason for concern. She was later represented by Bobby DeLaughter's current lawyer, Cynthia Speetjeens. Judge DeLaughter heard her arraignment when she was indicted for accessory after the fact and was scheduled to preside over her trial when he was suspended from the bench. The other two lawyers of the Ed Peters gang, Tom Royals and Tommy Mayfield, represented George Bell, III on his murder and kidnapping charges. The only thing missing from this reunion is Dale Danks serving up some drinks and Coppertone.
Keep in mind Ms. Bell came home at approximately 8:00 PM to a home awash in blood and a victim who lay dying, as pieces of her skull littered the floor. She was there all night long, making no attempt to call for the police or medical help for Ms. Spencer (who didn't die until 3:00 AM).
Ms. Bell made no attempt to contact the authorities even when she was alone for an hour. Ms. Bell faced serious charges when George was arrested based upon her conduct. The entry of Peters and the rest of his gang into this affair only makes Jim Hood's decision to drop the indictment against Ms. Bell even more suspicious, given his ties to Dickie Scruggs. The question that remains is whether hiding the role Robbie Bell played in the death of Heather Spencer was another example of Ed Peter's talent for helping his friends escape justice.
Heather Spencer murder: the truth begins to come out
**Exclusive: Must credit Jackson Jambalaya**
Update: WLBT covers story and credits JJ, WLBT video
Warning: This post and accompanying materials contain information of a violent and graphic nature.
Jackson Jambalaya recently obtained a copy of the police report submitted by JPD on the murder of Heather Spencer. It describes how George Bell, III went on a violent rampage of rape, murder, and kidnapping fueled by cocaine on September 10, 2007. A conspiracy of events and legal actions worked together to keep the public from learning the truth about what happened at Robbie Bell's home on Trawick Drive. What emerges from the report is a horrifying story overwhelming the senses.
Click Here to Read More..
Time for a little game.
Here is the Clarion-Ledger's latest story about the Irby case. How many errors can you spot in Mr. Gates' reporting?
Click Here to Read More..
Monday, July 27, 2009
Zero Hedge: It's not over
Zero Hedge published a pretty good article on its website arguing the recession is not over. In "The End of the End of the Recession", ZH posits "It is our hope that this piece will provide some badly-needed perspective on "the recession is over" debate, a topic that has become as one-sided as it is wrong-headed." The format of the article is similar to a power point presentation with many graphics. It's worth reading and more informative than what you see on CNBC.
Article
Sunday, July 26, 2009
Saturday, July 25, 2009
Why the Clarion-Ledger doesn't report the race of suspects
Click on photo to enlarge
The Clarion-Ledger has recently caught some heat from people who wondered why it would not publish the race of the suspect(s) involved in the recent spat of home invasions in Belhaven and Eastover. Unfortunately for residents of those and other crime-afflicted areas in Jackson, the newspaper doesn't think its public safety obligations include providing all information on suspects to the public so they may be apprehended. Ronnie Agnew, the Executive Editor of the Clarion-Ledger, adamantly defended the policy a few years ago (after the CL omitted the race of a rapist in Ridgeland who was on the loose) in a column that has since been forgotten. Since we never forget anything at Jackson Jambalaya, we thought it our duty to remind you of the CL's policy. Some choice quotes:
"The suspect, in this case is a black man, but readers of the Clarion-Ledger didn't know it because we chose not to tell them. It was not an oversight.....
But it is our policy not to run vague descriptions of suspects no matter what their race....
Its my contention that such information serves no value in helping the public assist police in identifying the suspect..."
Any questions?
Feds selling record $236 billion in Treasuries next week
It never ends. $236 billion in short-term Treasuries go on the market next week to finance Obama's deficit spending. The Wall Street Journal reports "The Treasury said it plans to sell $205 billion in government debt next week, including $109 billion in nominal coupon notes, a $6 billion reopening of 20-year Treasury Inflation-Protected Securities and $90 billion in three-month, six-month and 52-week Treasury bills." Marketwatch (owned by Dow Jones) reported this sum did not included the auction for four=week T-bills, which was $31 billion this week.
Ouch.
