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Source: http://www.artstorm.biz/469-operating-a-web-site-with-joomla.html

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Holdout investors seek deposit from Argentina by December 10

(Reuters) - Investors suing over Argentina's 2002 debt default have asked a U.S. court to order the country to post a security deposit of at least $250 million by December 10, while an appeal of a lower court's order is pending.

In an emergency motion filed late on Friday, the "holdout" creditors urged the 2nd U.S. Circuit Court of Appeals to modify its ruling from Wednesday that halted an order for Argentina to deposit $1.33 billion into an escrow account by December 15 on the investors' behalf.

The decision eased fears that Argentina could default in the coming weeks, but the holdouts say it is too lenient and gives the government more time to plot a way around court rulings. Officials at the Argentine Economy Ministry declined to comment.

The holdouts are seeking to be repaid in full on their defaulted Argentine bonds after spurning debt exchanges in 2005 and 2010 that about 93 percent of other bondholders accepted. Argentina calls the litigating funds "vultures" and has vowed never to pay them.

The latest battle centers on a ruling that found Argentina violated a bond provision requiring it treat all creditors equally when it paid the exchange bondholders without paying the holdouts. Two U.S. courts have said they should all be paid simultaneously.

On November 21, U.S. District Judge Thomas Griesa ordered Argentina to deposit the $1.33 billion for holdouts including NML Capital Ltd and the Aurelius Capital Management funds by December 15, the same day about $3 billion comes due on growth-linked GDP warrants, issued during Argentina's debt swaps.

This raised fears of another default because if Argentina had refused to pay the holdouts, as expected, U.S. courts could have disrupted payments to the holders of restructured bonds.

Argentina appealed the orders and won an emergency stay, or halt, from the 2nd Circuit Court.

NML and Aurelius argue, however, that Argentina should have to post a security deposit of $1.45 billion, or at least $250 million, by December 10 to ensure the country complies with the court orders if it loses the appeal.

"If Argentina refuses to post even that minimal security even as it prepares to pay more than $3 billion to exchange bondholders, that will amply demonstrate its intention not to comply with this court's mandates and that the stay should be lifted," lawyers for the holdout investors wrote.

The funds cited statements by Argentine officials saying they would not pay the holdouts but would keep servicing the restructured bonds as evidence they plan to evade the rulings by creating an alternative payment scheme for exchange bondholders.

The country will not have to pay anything on its restructured debt again until March 2013, when interest comes due on its Par bonds.

"The emergency giving rise to this motion is that if Argentina is not required to post security as a condition for maintaining the stay when its December 2012 payments on the exchange bonds come due, Argentina will have at least an additional three months to continue developing its scheme to attempt to evade the injunction," the holdouts' lawyers wrote.

They said if the 2nd Circuit does not agree that Argentina must make a security deposit, then it should consider expediting the case so that it can be resolved before December 31, when the country must pay $500 million to service restructured bonds.

(Reporting by Andrew Longstreth in New York and Hilary Burke in Buenos Aires; Additional reporting by Nate Raymond in New York; Editing by Eric Beech)

Source: http://news.yahoo.com/holdout-investors-seek-deposit-argentina-december-10-203455342--sector.html

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Egyptians fear decades of Muslim Brotherhood rule, warn Morsi is ...

As protesters clashes, President Mohammed Morsi of Egypt announced a referendum on a proposed constitution. NBC's Jim Maceda reports.

By Richard Engel, NBC News Chief Foreign Correspondent

News Analysis

TAHRIR SQUARE, CAIRO -- This was the place where the revolution began: the roundish square where Egyptians celebrated Mubarak's fall.

This is where they are shouting on bullhorns again, outraged because they say the Muslim Brotherhood has stolen the revolution and is railroading though a constitution that could lock in Muslim Brotherhood rule for 50 years, bringing more Islamic law. They cry -- not against Islam -- but that an extremist interpretation is being forced down their throats by a president who critics say is acting every part the tyrant. ?

This is also a warning, they claim, of what may happen across the Middle East. The era of the Muslim?Brotherhood appears to have arrived. President Obama has hailed the Brotherhood's President Mohammed Morsi as a pragmatist who helped end the Gaza crisis. Egyptians here think the Brotherhood has conned Washington, just like it conned them.

Christians, liberals left out as Islamists back Egypt's draft constitution

"President?Obama is supporting a terrorist," a man told me amid chants of "Leave! Leave!" in Tahrir Square and "Down, down with the rule of the Muslim Brotherhood's spiritual leader." Before, it was "Down, down with Mubarak."

---

Morsi's decree divides Egypt
Egypt was torn in half just over a week ago when Morsi made himself more powerful than Mubarak ever was, and the kings before him. Morsi declared himself above judicial oversight, his decisions final and unassailable. He made himself, according to critics, a new pharaoh on the Nile. Imagine if, after five months in office, an American president announced that he could pass any law he pleased regardless of Congress or the U.S. Supreme Court. Imagine if he said his decisions were final and inspired by God.

After issuing a decree making himself more powerful than the courts, Egyptian president Mohamed Morsi has sparked a wave of anger – some of which is directed toward the United States. NBC's Richard Engel reports.

Morsi last night apologized for the power grab and said he didn't want the extra authorities, but that they were necessary for the good of the people and to safeguard the revolution. Dictators always say stuff like that. Burn down the village to save it.

At first Egyptians were shocked that Morsi would make such an obvious and, according to Egyptian judges, blatantly illegal move. It's clear now, as some analysts have long feared, that the brotherhood is making sure it doesn't lose power again by taking control of Egypt's constitution. The Brotherhood wants to write the rules of the game. Now they've done that too.

PhotoBlog: Dueling demonstrations in Cairo

Protected by the president's new-found supreme and unquestionable powers, Morsi ordered his Islamist allies to finish writing the constitution and get it on his desk by the end of this week. They did it, even though many independent legal experts, Christians and opposition politicians boycotted the drafting process. The Brotherhood called the new constitution "a jewel." Many Egyptians say it leaves too much room for the implementation of Shariah law. ?

The constitution also empowers the people and government with a duty to uphold moral values, a vague clause that could pave the way for vigilante morality police. The constitution barely mentions protecting women's rights. According to women who were originally involved in the drafting process, and who subsequently left because they felt they were being ignored, clauses specifically demanding that women be protected from violence and sex trafficking were dropped because Islamists feared it would conflict with their desire to allow child brides.

ANALYSIS: Crisis tests Egyptians' constitution

The constitution has long been the Muslim Brotherhood's lodestar and, in the past, they have been willing the kill for it. In 1954, not long after a group of 'free officers' carried out a coup against the British-backed monarchy, a Brotherhood assassin tried to kill President Gamal Abdel Nasser. Nasser, a leading free officer, favored a mostly secular, pro-military constitution. The Brotherhood, an Islamist group that supports the return of Arab and Islamic unity and the revival of ancient Muslim glory and Shariah laws, couldn't accept the new rules.

The Brotherhood's assassination attempt failed. The gunman's eight bullets, fired while Nasser was giving a speech in Alexandria, all missed. The Brotherhood was banned. The group went underground, at times tolerated but more often repressed by Nasser's successors: presidents Mubarak and Anwar el-Sadat. When the revolts started against Mubarak, the Brotherhood saw that fate had given them another chance.

Muslim Brotherhood's calculated rise to power
Looking back now, it all seems so obvious, yet many Egyptians refused to see it coming. In fact, many of the secular revolutionaries backed the Brotherhood, arguing they were better allies than the hated military. The Brotherhood played its cards well.

The Brotherhood was late to join the anti-Mubarak revolts in 2011. When students and liberals initially occupied Tahrir Square, it looked like it might be a passing thing. The Brotherhood either didn't appreciate its significance, or wanted to wait to see who was winning.

I remember watching the Brothers march into the square. They arrived in a large group of perhaps five hundred. Nearly all were men. Many had beards. Most were dressed in poorly cut dark suits. They occupied a corner of Tahrir near a Kentucky Fried Chicken. They came with microphones and wood to build a platform. The other protesters in the square seemed happy to have the support of the new arrivals.

Egypt's Morsi, top judges compromise to defuse soaring tensions over decree

The protests continued to grow. Labor unions went on strike. The military enacted a coup against Mubarak. President Obama withdrew his support for Washington's long-time Arab friend. And Mubarak the president was no more.

The Brotherhood first said it wouldn't seek the new presidency at all. It promised to exist solely as an influential member of civil society. Back then, many Egyptians feared the Brotherhood. It was a semi-secret group. It had a small office in a Cairo apartment building with a sign on the door the size of an index card. Mubarak-era officials had often described the Brotherhood as a group of terrorists. One security official I know called the Brotherhood the most dangerous group in the world. But in the heady 1960s-like days after Mubarak's resignation, the Brotherhood's bad reputation only seemed to give the group more credibility. They'd been oppressed by the man. It was a new day. Everyone, it appeared, deserved a new beginning.

The Brotherhood went to work. It organized its considerable finances. It built a big new headquarters with far bigger signs on the doors. It sent its representatives around the world, especially to Washington, on a charm offensive. We've been oppressed, they claimed. We were slandered by a tyrant. We're not what you've heard. We can unite the Sunni world against Iran. We can help bring Israeli-Palestinian peace. There were many promises of a great future.

Even then, the Brotherhood's focus on the constitution was clear. The Brotherhood insisted the constitution be drafted only after a new president was elected. The military was overseeing a transition back then. The Brotherhood argued that the military couldn't be trusted to oversee the creation of such an important document. Many Egyptians agreed -- a decision some sorely regret today.

NBC's Ayman Mohyeldin discusses the current unrest in Egypt

Morsi won the election by a narrow margin and then five months into his term, made himself a dictator and ordered his Islamist friends to quickly finish the constitution. Morsi has said he'll drop his extraordinary powers as soon as the constitution is approved in a referendum in December. Islamists are convinced they'll be able to use their grassroots network of activists to win the referendum like they won the elections. Western diplomats tend to agree.

Yet the United States has remained mostly silent on all this, urging both sides to stay calm and work it out. Washington's policy seems to be that what's going on is simply democracy in progress as Egyptians learn to use their new rights.

But in Tahrir Square people seem convinced the Brotherhood isn't testing its fledgling wings. They say Morsi knows exactly what he's doing, Washington be warned.?

More world stories from NBC News:

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Source: http://worldnews.nbcnews.com/_news/2012/12/01/15578733-egyptians-fear-decades-of-muslim-brotherhood-rule-warn-morsi-is-no-friend-to-us

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Wall Street ends flat as "fiscal cliff" focus lingers

NEW YORK (Reuters) - The S&P 500 wrapped up its fifth positive month in the last six on Friday, although it ended the day flat as politicians remain at odds about how to avoid the so-called fiscal cliff.

Trading has been choppy in the last two weeks as investors react to statements from policymakers on the state of discussions on how to avert a series of tax hikes and spending cuts that could pull the economy back into recession.

The S&P 500 was up 0.29 percent in November even as it suffered a slide of more than 6 percent from the month's high to its low.

"Given the 'on again, off again' fiscal cliff (negotiations), it's rather surprising how resilient this market has been," said David Rolfe, chief investment officer at St. Louis-based Wedgewood Partners.

"Between now and the end of the year, there's going to be an information vacuum outside the fiscal cliff, and I believe that resiliency will be tested."

In contrast to the apparent calm in equities, the CBOE Volatility Index <.vix>, a gauge of market anxiety, jumped 5.4 percent, its largest daily gain in two weeks.

The VIX also rose for the week, but posted a whopping 14.7 percent decline for November.

On Friday, President Barack Obama accused a "handful of Republicans" in the U.S. House of Representatives of holding up legislation to extend tax cuts for middle-class Americans in order to try to preserve them for the wealthy.

Speaking shortly after the president, House Speaker John Boehner, an Ohio Republican, said: "There is a stalemate; let's not kid ourselves."

Despite the divisive language, many market participants are betting that a deal will be struck - if only at the eleventh hour.

Corporations continue to react to what is expected to be a harsher tax regime next year. Whole Foods Market was the latest to announce a special cash dividend - of $2.00 per share in this case - ahead of expected higher tax rates in 2013.

The Dow Jones industrial average <.dji> rose 3.76 points, or 0.03 percent, to 13,025.58 at the close. The S&P 500 <.spx> gained a mere 0.23 of a point, or 0.02 percent, to finish at 1,416.18. But the Nasdaq Composite Index <.ixic> dipped 1.79 points, or 0.06 percent, to end at 3,010.24.

For the month of November, the S&P 500 rose 0.29 percent, its smallest monthly variation since March 2011. The Dow fell 0.5 percent and the Nasdaq gained 1.1 percent.

For the week, though, all three major U.S. stock indexes advanced, with the Dow up 0.1 percent, the S&P 500 up 0.5 percent and the Nasdaq up 1.5 percent.

VeriSign shares dropped 13.2 percent to $34.15 after the company said the U.S. Department of Commerce approved its agreement with ICANN to run the .com internet registry, but VeriSign won't be able to raise prices as it did before.

Yum Brands slid 9.9 percent to $67.08 a day after the parent of the KFC, Taco Bell and Pizza Hut chains said it expects a drop in fourth-quarter sales at established restaurants in China.

After a close relationship for several years, Facebook and Zynga revised terms of a partnership agreement, according to regulatory filings on Thursday. Under the new pact, Zynga, creator of the "Farmville" game, will have limited ability to promote its site on Facebook.

Zynga's stock fell 6.1 percent to $2.46. Facebook's stock gained 2.5 percent to $28.

Apple Inc's latest iPhone received final clearance from Chinese regulators, paving the way for a December debut in a highly competitive market where the lack of a new model had severely eroded its share of product sales. Apple's stock fell 0.7 percent to $585.28.

The markets' reaction to data on Friday was muted.

U.S. consumer spending fell in October for the first time in five months and income growth stalled, leading some economists to cut already weak estimates of fourth-quarter economic growth.

Slightly more than 7 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, more than the daily average so far this year of about 6.48 billion shares and the largest in two weeks.

On the NYSE, roughly six issues rose for every five that fell, while on Nasdaq, the ratio was nearly 1 to 1.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)

Source: http://news.yahoo.com/stock-index-futures-signal-flat-start-095723946--finance.html

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Lisa Robin Kelly Arrested?AGAIN!

Lisa Robin Kelly, the actress who played Forman’s bimbo sister on That 70s Show, was arrested for an alleged domestic disturbance. This isn’t the first time she wound in cuffs — and neither time it was for her bad acting.either. Shocker. Just check out her mug shot. Something has gone terribly wrong since the show. I mean, it wasn’t that long ago, was it? Anyway, she apparently got into such a heated argument with her husband that police ended up being called. At press time, both Kelly and her boyfriend were released on bond while this thing is sorted out. 42-year-old Kelly is so far being accused of attacking her 61-year-old husband. Both are being charged with misdemeanor assault. As for the first time around, she was arrested for DUI and was put on probation until sometime last year after serving a single day in jail. She is incredibly lucky that none of this happened while she was still on probation. Her mugshots are just not too flattering at all. They make her look she is on meth, but in fact, authorities say that drugs and alcohol were not factor. Right now she is out on bond and obviously waiting [...]

Source: http://feedproxy.google.com/~r/RightCelebrity/~3/qlQuFX-c2K0/

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Faxless Payday Loans: Hassle Free Finance

Faxless payday loans are actually payday loans that mainly benefit the salaried people who face financial demand just after ten to fifteen days of a calendar month. The salaried people have, actually, a kind of limited and fixed monthly income. Unwarranted financial necessity is a regular experience in their life. It is not always easy to secure the finance. Faxless payday loans are really a boon for these people.

Faxless payday loans are offered to the loan-seekers against their paychecks of the immediate next month, but the borrowers get the loan amount in the unsecured variant. This is to mean that they are not to submit a guarantee. There are more advantages. The lenders do not verify credit report of the borrowers. This is why people with unhealthy credit record can apply for faxless payday loans. The best of the relief comes in the form that they are not to fax huge documents in papers to their respective lenders in support of personal information. They are, in this way, saved from great botheration.

Faxless payday loans are really hassle free. The applicants obtain the finance at the shortest possible time. They can apply online. Online application is good, because their privacy is maintained and loan application is processed fast. The lender sends the finance to the bank account of the borrower electronically immediately after he approves the application.

The loan-seekers must submit the checking account to the lenders. They must be 18 and of course citizens of United Kingdom to qualify for the faxless payday loans. It is an imperative that they must work in an authorized organization and that they earn around 1000 in a month.

Faxless payday loans are short loans and also short term loans. An amount between 100 and 1000 are available to the loan-seekers. They are to pay back the borrowed amount within two to four weeks. They are to pay the interest towards the loan amount at higher rates.

The loan-seekers applying for the faxless payday loans should bear in mind that they must honor the loan agreement and pay back the loan amount in time. If they fail to do so, they will be burdened with extra charges and fines. It is also good if they do not run for getting any other kind of finance till they clear the reimbursement towards the faxless payday loans.

Source: http://www.articlesnatch.com/Article/Faxless-Payday-Loans--Hassle-Free-Finance/4297231

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Syria drops off the Internet

Featured

18 hrs.

Helen A.S. Popkin

Celebrity gossip site TMZ found itself on the other side of the rumor mill Tuesday morning, after a story claimed it?applied for a surveill... Read more

28 min.

Helen A.S. Popkin

As of ?12:26 p.m. in Damascus, Syria is no longer on the Internet, reports?Renesys, an International research firm.?

"In the global routing table, all 84 of Syria's IP address blocks have become unreachable, effectively removing the country from the Internet,"?chief technology officer?James Cowie wrote on the?Renesys blog.?

Akamai Technologies, a Web content?distributor,?confirmed the outage, and the Associated Press reports that Syrian activists reached via?satellite?confirmed the unprecedented blackout." Mobile and land?line telephone connections are reportedly intermittent.??

Internet access in Syria has been?occasionally?distributed?during the 20-month citizen insurgency against the country's existing government, led by President Bashar Assad. This, however, is this is the first complete shutdown.?

Cutting off this means of both local and International communication is now standard operation for governments facing civil unrest, as seen in?Libya, Iran and Egypt.?

Egypt's startling?disappearance?from the Internet in January 2011, when Renesys?"observed the virtually simultaneous withdrawal of all routes to Egyptian networks in the Internet's global routing table."?

The Egyptian government cut off virtually all access to the Internet by switching off routers at individual ISPs, a process GigaOm's Stacey Higginbotham?explains, is "made easier by the fact that their were few ISPs to contact." ?

As?Higginbotham points out, "it's unclear how Syria disconnected its citizens.?Some news reports say insurgents are communicating still via satellite phones, but the lost of IP addresses means no IP services can find their way to end users within the country. When a packet destined for a Syrian IP address is sent, it simply can?t find out where it?s supposed to go."

Helen A.S. Popkin goes blah blah blah about privacy and then asks her to join her on Twitter and/or Facebook. Also, Google+.?Because that's how she rolls.

Source: http://www.nbcnews.com/technology/technolog/syria-drops-internet-1C7319908

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