Wyclef Jean
Since Grammy-winning musician Wyclef Jean declared his intent to run for president of Haiti, it has stirred debate especially within the Haitian-American community and among the stars.
Jean, who has been aggressively helping his home country through his[…]
Over 500 Broward teachers will be back in the classroom for the fall term, since the federal $26 billion stimulus package got the green light from the House of Representatives on Tuesday, Aug. 10.
Broward expects to get about $54[…]
If you run a red light in Fort Lauderdale these days, you are likely to be caught on camera.
The cameras to crack down on red-light runners are up at nine busy intersections according to Fort Lauderdale officials. The intersections[…]
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| Another bank bailout by the Feds |
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In a joint statement issued by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp, federal officials said the assistance to Citigroup is allowing the U.S. Government to take actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy. The statement continued, “We will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks. The following principles guide our efforts: Citigroup's the latest financial institution to be deemed too big to fail, which it probably true as such a failure would not only have a serious impact on the national economy but, since Citigroup banks internationally, on the global economy as well. As part of the latest bailout plan the U.S. Treasury and the FDIC will guarantee against the "possibility of unusually large losses" on up to $306 billion of risky loans and securities backed by commercial and residential mortgages. Under the loss-sharing arrangement, Citigroup Inc. will assume the first $29 billion in losses on the risky pool of assets. Beyond that amount, the government would absorb 90 percent of the remaining losses, and Citigroup 10 percent. Money from the $700 billion bailout and funds from the FDIC would cover the government's portion of potential losses. The Federal Reserve would finance the remaining assets with a loan to Citigroup. In exchange for the guarantees, the government will get $7 billion in preferred shares of Citigroup. Add this article to your favorite Social Bookmarking websites         
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North Miami Beach commissioners have been making decisions behind closed doors.
City manager - Miami Beach Florida - United States - Florida - Business and[…]
We're pretty sure this is not the right way to handle getting your car repossessed.
Repossession - Loan - Automobile - Arts - Law
Marleine Bastien couldn't get the sympathy vote, but the cops got the suspects.
United States - Politics - Florida - Democratic Party - Police
A South Florida family claims their delusional relative sold his house for $10.
House - United States - Tony Blair - Morality - Homosexuality