Feds Probe Sept. 11 Insurance Fund
Monday, December 3, 2007; 7:46 PM
review.
Captain O'Goebbels and Loofa Boy!
BAGHDAD - A series of attacks on Iraqi police and volunteer patrols killed at least seven people in Baghdad and neighboring provinces on Saturday, including Diyala, where clashes erupted in villages ringing the provincial capital, officials said.
The U.S. military also announced the death of an American soldier shot Friday in northern Ninevah province.
Early Saturday in eastern Baghdad, a pair of synchronized roadside bombs targeted a passing police patrol, killing two civilians. The second bomb detonated about two minutes after the first, hitting bystanders who had gathered at the site, a police officer said, speaking on condition of anonymity because he was not authorized to release details of the attack.
In the northern Baghdad neighborhood of Azamiyah, a member of a U.S.-backed volunteer patrol was killed by an explosives-rigged bag he received from a stranger who claimed to have found it in the street, according to Iraqi army Col. Riadh al-Samaraie. The explosion wounded a second security volunteer, al-Samaraie said.
Sunnis have been turning against al-Qaida in significant numbers and signing up for the volunteer security forces — partly in disgust at the militant group's brutal tactics, and partly to seek American protection against what they see as government-backed Shiite militias. American officials say the volunteers now number about 72,000 nationwide, and as their numbers grow, they are increasingly targeted.
HOOVER SAYS ECONOMY OKAY.
The nationwide housing slump and collapsed mortgage markets have taken yet another toll on Washington Mutual — specifically, on its employees and shareholders.
The Seattle-based thrift, one of the nation's largest home lenders, said Monday it will:
• Cut 3,150 jobs, mostly in its struggling home loans business;
• Shutter nearly two-thirds of its home-loan stores;
• Close its 5-year-old mortgage-backed securities brokerage;
• Slash its quarterly dividend to 15 cents per share, from 56 cents.
The company also said it would sell $2.5 billion worth of convertible preferred stock. That, along with the dividend cut and the other closures and reductions, should give WaMu $3.7 billion more in capital to work with as it tries to ride out the nation's worst financial crisis since the savings-and-loan debacle of the late 1980s and early 1990s.
Employee reaction
Rumors and tension filled WaMu's home loan offices on Monday afternoon, with employees anxiously waiting to hear whether their jobs were safe. Workers said they did not see the cuts coming, despite a downturn in the mortgage market and WaMu's loan woes.
"We had no clue this was coming," said one Seattle-area loan consultant who has worked at WaMu for five years. "The market's slow, but that just means you call old clients and things like that."
He said he expects to stay in lending, even if his job at WaMu is cut, and he tries not to worry about it too much. "You can't be too concerned or you'll give yourself a heart attack," he said.
SEOUL, South Korea (Dec. 7) - A crane-carrying vessel collided with an oil tanker off of South Korea's west coast on Friday, causing more than 66,000 barrels of crude oil to spill in what was believed to be South Korea's largest offshore oil leak, officials said.
Officials at the Maritime and Fisheries Ministry, citing Coast Guard reports, initially said about 110,000 barrels had leaked from the Hong Kong-registered tanker. But the Coast Guard later said additional information indicated the amount was significantly lower - about 66,043 barrels.
By SETH BORENSTEIN, AP Science WriterWed Dec 5, 6:47 PM ET
For the first time, more than 200 of the world's leading climate scientists, losing their patience, urged government leaders to take radical action to slow global warming because "there is no time to lose."
A petition from at least 215 climate scientists calls for the world to cut in half greenhouse gas emissions by 2050. It is directed at a conference of diplomats meeting in Bali, Indonesia, to negotiate the next global warming treaty. The petition, obtained by The Associated Press, is to be announced at a press conference there Wednesday night.
The appeal from scientists follows a petition last week from more than 150 global business leaders also demanding the 50 percent cut in greenhouse gases. That is the estimate that scientists calculate would hold future global warming to a little more than a 3-degree Fahrenheit increase and is in line with what the European Union has adopted.
In the past, many of these scientists have avoided calls for action, leaving that to environmental advocacy groups. That dispassionate stance was taken during the release this year of four separate reports by the Nobel Prize-winning Intergovernmental Panel on Climate Change.
But no more.
"It's a grave crisis, and we need to do something real fast," said petition signer Jeff Severinghaus, a geosciences professor at the Scripps Institution of Oceanography in La Jolla, Calif. "I think the stakes are way way too high to be playing around."
The unprecedented petition includes scientists from more than 25 countries and shows that "the climate science community is essentially fed up," said signer Andrew Weaver of the University of Victoria in Canada. It includes many co-authors of the intergovernmental climate change panel reports, directors of major American and European climate science research institutions, a Nobel winner for atmospheric chemistry and a winner of a MacArthur "genius" award.
"A lot of us scientists think the problem needs a lot more serious attention than it's getting and the remedies have to be a lot more radical," said Richard Seager, a scientist at Columbia University's Lamont-Doherty Earth Observatory.
The organizers of the petition — two Australians, two Germans and an American — would not comment about their efforts before their 11 p.m. EST press conference. But several scientists who signed on talked of losing patience.
"Action needs to be taken and needs to be taken now," said Marika Holland, a scientist at the National Center for Atmospheric Research who signed on. "The longer we wait, the worse it's going to become."
Negotiators in Bali are working on the initial groundwork for a treaty that would take effect after 2012, the expiration date of the Kyoto Protocol, a climate treat the United States didn't sign. However, no on expects concrete results at the closed-door sessions.
NASA scientist Gavin Schmidt, who signed the petition, said "the time for half-measures and the time for voluntary agreements and the time for arguing about 1 percent here and 1 percent there — those things are no longer relevant."
Schmidt noted while scientists have been dismissed by some as unrealistic, the call for a 50 percent emissions cut by business leaders "helps give credence to the idea that it's achievable."
Policy analysts, who weren't part of either petition, split on how meaningful the two petitions are.
What's happening is people are agreeing "that the cost of inaction is on the high side and the cost of action is affordable," said Joseph Romm, a policy analyst at the liberal think-tank Center for American Progress, energy business consultant and trained physicist.
But Jerry Taylor, a senior fellow at the libertarian Cato Institute said "scientists are in no position to intelligently guide public policy on climate change." Scientists can lay out scenarios, but it is up to economists to weigh the costs and benefits and many of them say the costs of cutting emissions are higher than the benefits, he said.
Granger Morgan, a professor of engineering and public policy at Carnegie Mellon University, said he sees "a growing realization among a wide variety of players that we've got to stop talking about this and start some action." But, he added, "I'm not going to hold my breath that we're going to get anything."