New York State
Having missed the entire shale boom, and with heavily-indebted shale companies now scrambling to boost liquidity or else face bankruptcy if crude prices remain at current levels, moments ago - in the latest example of blatant populist pandering - New York Governor Andrew Cuomo said Wednesday his administration would prohibit hydraulic fracturing statewide, citing health concerns and calling the economic benefits to drilling there limited. “I cannot support high-volume hydraulic fracturing in the great state of New York,” acting health commissioner Howard Zucker said, adding that he wouldn’t allow his own children to live near a fracking site. He said the “cumulative concerns” about fracking “give me reason to pause.”
As of 1220ET, 505 flights have been cancelled in the US today (and 1,731 additional flights are subject to delays) as airlines both pre-emptively and reactively prepare for the worst case nor'easter due to hit the East Coast any hour now. Chicago O'Hare is subject to the most flight delays, followed by New York's JFK. Newark, Laguardia, and Philadeplhia airports are seeing the most cancellations currently. "In most cases, the worst time to travel in the mid-Atlantic and New England due to the storm will be on Wednesday and Wednesday night."
One really just can't make this up. Perhaps the Fed inspector general, when he is done "fixing" the corruption at the NY Fed will be so kind to take a look at the Goldman takeover of the US judicial system next.
Despite the constant confirmation that New York "is prepared, and has been prepared for months" for an Ebola outbreak (that is extremely difficult to catch apparently), it appears Governor Cuomo and NJ's Christie are more concerned than they are letting on. Having earlier admitted that the CDC's screening guidelines are "insufficient" for New York regions' population density, Reuters reports that Cuomo and Christie are considering "enhanced screening" where "all healthcare workers will be mandatorily quarantined." Cue "state of emergency" proclamation and civil liberties 'interrupted'...
NYC Doctor Confirmed Positive For Ebola; Contact With Girlfriend (Quarantine) & 3 Others; "Unlikely" Contagious On SubwaySubmitted by Tyler Durden on 10/23/2014 22:52 -0500
*PATIENT IN NYC TESTS POSITIVE FOR EBOLA, NEW YORK TIMES SAYS, EBOLA PATIENT GIRLFRIEND QUARANTINED: CNN
*TREASURIES ADVANCE, S&P 500, NASDAQ 100 FUTURES EXTEND DECLINES ON EBOLA REPORT
Cuomo: "There is no reason for New Yorkers to be alarmed..." *HAVE IDENTIFIED 4 PEOPLE IN CONTACT WITH EBOLA PATIENT, PATIENT WENT ON 3-MILE JOG, BOWLING, SUBWAY
Dr Craig Spencer, 33, who returned to the U.S. ten days ago from Guinea, was admitted to Bellevue Hospital in midtown Manhattan on Thursday and is being cared for in isolation. The doctor flew to Africa on September 18 to treat patients in Guinea with non-profit organization, Medecins San Frontieres (MSF). On October 16, he checked in at a hotel in Brussels, Belgium, presumably on his return journey from Guinea to the U.S.
Statement On Suspect Ebola Case From Dr. Howard Zucker, Acting Commissioner, New York State Department of Health
"Despite the robust investment returns since 2004, annual growth in unfunded pension liabilities has outstripped these returns," Moody's warns in its latest report on the state of public pension systems. As Bloomberg reports, the 25 biggest systems by assets averaged a 7.45% return from 2004 to 2013, but liabilities tripled over the same period leaving them facing a $2 trillion shortfall as investment returns can’t keep up with ballooning obligations. The top 25 funds account for 40% of the entire US public pension system with Illinois, Kentucky, Connecticut, and Louisiana at the top of the 'most underfunded' list.
What will $1 million buy in New York City? A diamond-encrusted Cartier men’s watch. A small fleet of 2014 Bentley Continentals. Or maybe your very own parking spot in SoHo... "Parking is in serious demand and has proven an excellent investment with no sign of a decline."
- Ferguson at Turning Point After Night of Relative Calm (BBG)
- Gaza war rages on, Hamas says Israel tried to kill its military chief (Reuters)
- Surge in Putin Patriotism Masks Pain of Sanctions (BBG)
- Bank of England splits over rate hike for first time in 3 years (Reuters)
- Putin Meeting Leaves Kiev With Tough Choices (WSJ)
- European Gas Reverses Biggest Drop Since 2009 on Ukraine (BBG)
- "Isolation" Mongolia Seeks Economic Lifeline With Pivot to China, Russia (BBG)
- Uber Picks David Plouffe to Wage Regulatory Fight (NYT)
- China Levies Record Antitrust Fine on Japanese Firms (BBG)
Absolute Bubble Insanity: For Nearly Half A Billion Dollars, Here Is The World's Most Expensive PenthouseSubmitted by Tyler Durden on 08/19/2014 12:02 -0500
Forget Hong Kong, London and New York: when it comes to the pinnacle in absolute real estate insanity - perhaps in all of history - look no further than James Bond's favorite gambling mecca, Monaco. It is in this tiny Riviera principality where we find the Tour Odeon, a double-skyscraper being built by Groupe Marzocco SAM near Monaco’s Mediterranean seafront, which will contain a 3,300 square-meter (35,500 square-foot) penthouse with a water slide connecting a dance floor to a circular open-air swimming pool. The description is nice, but it is the bottom line that is mindblowing: Bloomberg reports that the apartment may sell for more than 300 million euros ($400 million) when it goes on the market next year, French magazine Challenges reported. That would make it the world’s most expensive penthouse, according to broker Knight Frank LLP.
- Yellen Dashboard Warning Light Glows as Millions Work Part Time (BBG)
- More US drones boosting global GDP: Unidentified war planes, explosions heard in Libyan capital (Reuters)
- London Home Asking Prices Plunge Most in More Than Six Years (BBG)
- Carney - Rate Hike before Pay Recovers (Times)
- No Fed fireworks, but plenty of clues, expected at Jackson Hole (Reuters)
- Kurdish, Iraqi forces in control of Mosul dam (Reuters)
- China Pushes Cleanup of Banks (WSJ)
- Russia Widens Ruble Trading Band in Move Away From Managed Rate (BBG)
- Dollar General Makes $9.7 Billion Family Dollar Counterbid (BBG)
- Autopsy finds unarmed teen killed by police was shot six times (NYT)
- Bull Market Waning as Barclays Sees 1% Gain for S&P 500 (BBG)
- Credit Suisse Caught Up in Espírito Santo Mess (WSJ)
- Obama says Missouri shooting death tragic, reflection needed (Reuters)
- U.S. Weighs Iraq Rescue Mission to Save Yazidis (WSJ)
- Maliki says Abadi's appointment as Iraqi PM 'has no value' (Reuters)
- Iran Joins U.S. in Backing Replacement for Iraq’s Maliki (BBG)
- Kurds Push Attack in North Iraq as Maliki Clings to Power (BBG)
- Obama Donors Embrace Corporate Inversions He Criticizes (BBG)
- Syrian Forces Advance on Aleppo, Rebels Fear Another Siege (WSJ)
- Israel, Palestinians pursue Gaza deal with ceasefire clock ticking (Reuters)
- Ebola Drug’s Success Bolsters Approach for Other Diseases (BBG)
- With Natural Gas Byproduct, Iran Sidesteps Sanctions (NYT)
- Kazakhs to Hoard Food as Putin Sanctions Rattle Alliance (BBG)
Let's take a look at the amount of settlements/fines from various banks and financial institutions around the world since the crisis.
If NYS Superintendent of Financial Services Lawsky's proposed BitLicense was applied to the Internet in 1994, Goldman Sachs & JP Morgan would be controlling your ability to read this post right now and Google, Facebook and Twitter would not exist