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POPSAlleged Underwear Bomber: 'it was a mix-up in the laundry' Abdulmutallab comes from a prosperous Nigerian banking family, who live on $12 a day, four times the national average. Family members are used to having maids and other servants do the laundry in exchange for roots and berries. 'My underwear goes out, my underwear comes back', Abdulmutallab said. 'My cousin, his nephew, and his other brother and other nephew were all staying at the house. One of them was probably going to blow up a public urinal or a pay phone or something, and I got the explosive underwear by accident.' While investigations continue, Abdulmutallab is complaining about his nick-names. 'Some are calling me 'the Underbomber', 'Suicide Fart', or 'Lightning Pants', he said. 'Some even call me 'Fizzle Dick'. These prison names are awful. But at least the inmates keep away from me in the showers. I even dropped my bar of soap several times without incident.'
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POPSSmall Business Owners Lose in Credit Crunch But despite the taxpayer bailouts that have allowed the banks to stay afloat despite plunging the country into a banking crisis they are generally not lending, even though they are doing well again. For the most part, they still holding on to their capital.
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POPSHospital Cleaners More Valuable Than Bankers
Interesting article. More below: "The study, "A Bit Rich" from the New Economics Foundation looked at six different types of British employees in aggregate, and found that: For a salary of between ?50,000 and ?12 million, top advertising executives destroy ?11 of value for every pound in value they generate. # or every ?1 hospital cleaners are paid, over ?10 in social value is generated. # For a salary of between ?75,000 and ?200,000 tax accountants destroy ?47 of value for every pound in value they generate. # For every ?1 of spent on waste recycling workers' wages, ?12 of value will be generated. Contrary to what we might expect, given the vociferous defence of the importance of wholesale banking to the UK economy, the City of London contributes only around 3 per cent of value added every year. Claims have been made about the trickle down effects of wealthy City bankers' spending in the economy but there is little real evidence to back this up"
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POPSThe Bunch of "Fat-Cats"- A Big Fat F, "Me"- A Good Solid B+ "They're still puzzled why is it that people are mad at the banks. Well, let's see," he said. "You guys are drawing down $10, $20 million bonuses after America went through the worst economic year that it's gone through in -- in decades, and you guys caused the problem. And we've got 10% unemployment." Relations between the banking industry and the White House were frosty from the start and have deteriorated in recent weeks, with large banks lobbying against portions of legislation that would toughen financial-market regulations and administration officials angered by some banks' continued payment of high bonuses and their reluctance to lend. Mr. Obama is scheduled on Monday morning to meet with bankers to exchange ideas on ways to increase lending; to review the financial-industry regulatory bill moving through Congress; and to discuss bankers' compensation, the White House and industry representatives said.
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