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April 15, 2011     Post-Gazette
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April 15, 2011

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Page 4 POST-GAZETTE, APRIL 15,2011 I FinanciallySpeaking with Ben Doherty RADIATION LEVELS IN JAPAN RISING ALONG WITH CRUDE OIL A rising euro pushed dol- lar-based crude up $2.49 to $112.79/barrel. Rising con- cerns for Saudi Arabia and other Mideast disruptions. Gold hit a new high up $14.4/oz on the dollar's fall and U.S. government shut- down fears. In Japan more than 900,000 homes still had no electricity and increased radiation levels. Workers continued pumping nitrogen into the reactors to prevent build up nitrogen from ex- ploding. As hours ticked down to a midnight shut- down, several GOP Senators called for cutting a deal with the 2012 budget. There was acceptance for a cut from $38 billion from 2010 spend- ing .levels and the 2013 bud- get. There was general ac- ceptance of a short-term on military only funding bill a possibility if no 2011 deal was reached. A Planned Par- enthood funding was pos- sible if no deal was realized. NATO admitted an attack on a convoy saying it didn't know that Gadhafi had tanks as they painted their ve- hicles pink and didn't help fight near Braga raising pressure on NATO to do more died in Mideast clashes. Bloodshed marked the day of prayer across the Arab world. Hospitals say 42 died in Syria as protests seeking to oust Yemen President Abdullah Saieh were report- edly killed by gunfire as crowds demanded the end of his 22-year rule. The UN found over 100 corpses in a sign of violence adding to the 800 bodies the Red Cross dis- covered last week as Presi- dent-elect Alassens Quat- tarla viewed the compound and they raised pressure on NATO to do more. Israel strikes Hamas in retaliation for using air strikes by fir- ing six rockets into southern Israel. It targeted terror squads arld killed 14 mili- tants and civilians. Hamas fired at least six rockets into southern Israel. The power- ful House Oversight Com- mittee is expanding its in- vestigation of possible ethics violations by the Financial Crisis. Inquiring Commis- sion (FCIC) including im- proper backdoor communi- cations between the panel and trial lawyers suing ma- jor banks over subprime in- vestments by one major law firm using the documents employs one of the Commis- sion. The firm Robbins, Geller Rodman could be guilty of conflicts of interest and could make billions of dollars in fees and settle- ments. The FDIC first report issued in January after a 15 month probe bhimed the cri- sis on greedy bankers and predatory lenders while dis- missing the role of housing policy in the mess. Geller co- lead counsel for three lead mutual funds suing Goldman Sachs to recover losses against Goldman and have six class action suits against Goldman Sachs. A Robbins, Geller partner was calling the shots as lead investiga- tor all along as a congres- sional investigator said. The FCIC may have conflicts of interest among the pension funds. This may prevent a thorough and even handled investigation between the FDIC and the pension funds and labor unions, which may impede the Commission's ability to conduct an even handled investigation. Gold- man Sachs denied any con- flicts and defended the integ- rity of the investigation. They insisted that they abided by the rules. They did not respond to requests for comment on this story. Com- missioner Georgian failed to recuse himself from the FDIC's investigation of Gold- man Sachs. They never responded to phone calls and emails seeking comment. At a private hangout they dis- cussed updated participants on what the Commission has learned as it reaches its conclusions and action above lessons for fiduciaries. There were 200 in the audience including pension fund activists suing banks probed by the FCIC. The meeting was held at a beach front resort with one of the best golf courses in California. They say that Goldman Sachs failed to disclose their position in the Canyon Value Realization Fund. No media were invited. Just state pension funds actively suing banks probed by the FCIC. It's time to call your financial advisor or call me at 617-261-7777. We Aren't the United States of Massachusetts Twenty-four hours after our own U.S. Senator John F. Kerry was seemingly gloat-ing over a $247 million contract for General Electric to build 68 jet fighters, the Department of Defense put a separate contract on hold putting 400 Lynn, Massa- chusetts workers in limbo. On March 24 the Defense Department put a stop-work order out for the F-136 Joint Strike Fighter engines, call- ing it "a waste of taxpayer money that can be used to fund higher departmental priorities and should be ended now." Capitol Hill went ahead by Sal Giarratani with Kerry's backing to fund the F-136 engines despite the fact that Defense Secre- tary Robert Gates was opposed to it and considered it a waste of money. Many Democrats in Congress seemed upset with the decision saying it reportedly undermined congressional authority when it came to federal spending. Lynn Mayor Judith Flan- agan Kennedy who found out the F-136 contract was can- celed when the Boston Her- ald called her for a reaction to the story said she was dis- appointed. Said Mayor Ken- nedy, "I am very distressed. f NOBILE INSURANCE ALBANO F. PONTE, CEP Financial and Estate Planning Email afponte @ Phone 617-320-0022 MICHAEL F. NOBILE, CPCU ARLINGTON 148A Massachusetts Avenue Arlington, MA 02474 (781) 646-1200 Fax (781) Co46-1148 MEDFORD 39 Salem Street Medford, MA 02155 (781) 395-42OO Fax (781) 391-8493 BOSTON 30 Prince Street Boston, MA 02113 (617) 523-6766 Fax (617) 523-0078 J That's an extremely disap- pointing blow to GE, the workers and the city of Lynn. this will have a significant impact on the work force if the stop-order stays." AGE spokesperson stated, "DOD's action was grossly prema- ture" but did acknowledge that the Defense Depart- ment has every right to halt production. Kerry and the rest of the Democrats in Washington such as US Rep. John Tierney sound like cry- babies talking about Con- gress getting undermined when it comes to appropri- ating funds for the F-136 engines. Just because Con- gress authorizes spending for the contract doesn't mean DOD has to build anything. Defense contracts need to be about the nation's na- tional security rather than jobs in a certain North Shore congressional district. In the '70s, Boston lost a number of military sites including the Charlestown Navy Yard, the South Boston Naval Annex and the Boston Army Base. All of these closings hurt the local economies of Boston and neighborhoods like Charlestown and South Boston but the needs of the country were prioritized back then and still are today. I What's the Big Deal About His Birth Certificate? There are many folks out there who are labeled as "birthers" because they think President Obama wasn't born in Hawaii but in some other country and thus is ineli- gible to serve as U.S. Presi- dent. I am not one of those people. I think he was born inside the United States. However, our president goes to an inordinate length to keep from actually showing us his birth certificate. Why? Birthers think he's hiding his true country of origin but I think they're off the mark. It is clear that he grew up for part of his younger life outside this country and no one disputes that. However, it does appear he is hiding something, doesn't it? Even Donald Trump, on a recent trip to "The View" one morning, made mention of all the secrecy surrounding the birth certificate issue and the lack of any photos of a young Obama except for the high school class photo when he was still named "Barry Obama." Both Whoopie Gold- berg and Barbara "WuWu" Waiters lashed out at him for even bringing this up. Whoopie even said "B.S." out loud. Trump may be on to something that even I have been thinking. If Presi- dent Obama is American- born with a certificate prov- ing it, then what else could he be hiding? As the story goes his father came to this country shortly after the election of President Kennedy from Kenya, met and married Obama's mother. Then, at some point, abandoned both his wife and young son. That's the story always told. We also learned at some point, Obama renamed him- self after his father. He changed the name he was given at birth "Barry Obama" and became Barrack Hus- sein Obama Jr. Why he did this is his business. However, why he glorifies the father that abandoned him makes little sense and why his father would alleg- edly run off even less sense. Could Trump be alluding to what might be the reason for the president hiding his birth certificate? what is the president hiding?, what is on that birth certificate that needs to be kept secret? Forget what those birthers are saying. They're barking up the wrong tree. It seems clear that there could only be one thing on that piece of government paper from back in 1962 that might be worth hiding. Figure this out your- self. It seems easy to under- stand the secrecy Trump was alluding to, doesn't it? Even if Trump is right in his alluding, it really doesn't amount to a hill of beans except obviously to President Obama himself, which probably explains why he seems incapable of leading or instilling con- fidence in the American people or showing us his birth certificate. The Agency for all your Insurance Coverages Richard Settipane AUTO HOMEOWNERS TENANTS COMMERCIAL Experience makes the difference SPECIALIST in RESTAURANT and BUSINESS POLICIES CALL TODAY FOR YOUR QUOTE 617-523-3456 - Fax 617-723-9212 1 Longfellow - Place Suite 2322 - Boston, MA 02114 Conveniently located with Free Parking Boston Harborside Home Joseph A. Langone 580 Commercial St. - Boston, MA 02109 617-536-4110 Augustave M. Sabia, Jr. Trevor Slauenwhite Frederick J. Wobrock Dino C. Manca Courtney A. Fitzgibbons A Service Family Affiliate of AFFS/Service Corporation International 206 Winter St., Fall River, MA 02720 Telephone 508-676-2454 J