Inventing a crisis

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New bill, old dodge

As would be expected, banking giant Goldman Sachs Group revealed in a regulatory filing that it had sneaked some payments in under the wire in December.louis vuitton bags for saleThe ink had not yet dried on the new tax bill that dramatically averted the dreaded fiscal crisis -- the default budget that was predicted to throw the U.S. economy back into a recession -- and already banks were squirming. In a Securities and Exchange Commission filing, The Wall Street Journal reported, Goldman Sachs had distributed 508,104 shares valued at $64.louis vuitton purse for sale8 million in December, a month earlier than normal, given the anticipation thick in the air that Congress would raise taxes on wealthy wage earners. The bank dutifully withheld 48 percent of the awards, which went to the firm's top executives, to cover taxes, but pointedly assigned the compensation to the prior year, allowing them to be taxed before Congress raised the rates on those earning $400,000 a year or more.The moral of the story is that certainly the country's most successful bankers should be savvy enough to dodge a simple tax law when they need to. This is what company shareholders and spouses and children of executives expect.louis vuitton wallet for sale Any bank that missed the deadline, frankly, is not keeping up. This thing was all over the newspapers, after all.In the same news cycle, The Washington Post reported that a new study found that federal agencies have recently been taking better care to ensure that settlements paid by misbehaving corporations not be used as tax deductions.How's that again? It turns out that the millions and sometimes billions of dollars corporations pay to settle charges of illegal behavior can be written off as a business expense.louis vuitton online store Of course, corporations often enough need not admit any guilt related to the charges. After all, these are out-of-court settlements and court is the only place were guilt can be assigned. Take, for example, the case of Wells Fargo settling charges that it steered Latinos and African-Americans towards high-interest sub-prime loans, charging them exorbitant fees along the way. The bank agreed to pay $175 million to have the charges dropped, allowing everyone to skip a drawn out trial.new louis vuitton bags Handily, the Post reported, the portion of the $175 million that is used to compensate victims can be written off as a business expense. Among the losers here are taxpayers subsidizing penalties imposed on corporations for wink-wink, nudge-nudge, illegal behavior.But the U.S.gucci messenger bag Public Interest Research Group, a think-tank, found that federal agencies were paying more attention to penalties subsidized by taxpayers. Since 2003, the Securities and Exchange Commission has a blanket rule that forbids any of its punitive settlements to be used as tax write-offs. The Justice Department in two recent cases -- a $500 million settlement with UBS on Libor manipulation and a $4 billion settlement with BP over the Gulf of Mexico oil spill -- stipulated that the penalties not be handed off to taxpayers.The question of the day, of course, is what happened to all those loopholes Republicans promised they would close as part of the new tax code? Was closing loopholes a pledge or a bargaining chip -- a promise or just a threat?In international markets, the Nikkei 225 index in Japan was closed, while the Shanghai composite index in China rose 1.louis vuitton monogram61 percent. The Hang Seng index in Hong Kong gained 0.37 percent, while the Sensex in India added 0.26 percent.handbags and walletsThe S&P/ASX 200 in Australia climbed 0.74 percent.In midday trading in Europe, the FTSE 100 index in Britain gained 0.1 percent, while the DAX 30 in Germany slipped 0.louis vuitton speedy32 percent. The CAC 40 in France dropped 0.53 percent, while the Stoxx Europe 600 rose 0.29 percent.handbags and wallets
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Job creation up next

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Price of dreaming

To Wall Street, the financial crisis that erupted in 2008 was a serious business interruption that affected jobs and bonuses.louis vuitton monogram vernisThe crisis also caused the collapse of Bear Stearns, Lehman Brothers, Merrill Lynch, Wachovia and a few others. Some of these, of course, were swallowed up by larger banks, which salvaged some of the financial jobs that would have been lost otherwise.To the public, the question is not just about accountants, but also about accountability. The housing market was not sustainable because -- so the theory goes -- banks had relaxed their lending standards to the point that they were selling riskier and riskier mortgages, which drove the price of houses higher, artificially, through increased demand, only to find the pricing support collapse when borrowers could not keep up with millions of loans.louis vuitton handbagWorse, banks appreciate profits up front as much as the next business, so mortgages were bundled together and sold to other banks, to those willing to wait for 15 or 30 years for the profits to come in as the loans are paid month to month.Worse yet, banks also appreciate insurance on the risks they take, which partly explains the invention of the derivatives market, financial products that represent insurance for those holding onto risky assets. At the same time, derivatives are just another form of poker chips, another chance at buy-and-sell and speculation. Derivatives have value that rises and falls, a circumstance other high rollers cannot resist.chanel handbagsThe biggest financial firms, of course, set the bar on loan standards according to their needs. The Federal Home Loan Mortgage Corp., known as Freddie Mac, and the Federal National Mortgage Association, known as Fannie Mae, are considered "government-sponsored" enterprises in that they are private firms that try to represent the government's mission of helping citizens buy a home, a standard component of the American dream.With only what is written above to go by, two things become equally self-evident.lv handbag One: This kind of setup has an enormous capacity to expand in value and to explode. Two: Finding a culprit in this mess is easy but assigning blame is difficult.With the best of intentions, Fannie Mae represents the American dream. With explosive potential, lenders recognize they can also support the dream and profit along the way.chanel handbags So Wall Street makes a few innocent enough side bets on the whole thing. Even if you point to the few companies that purposefully wrote fraudulent loans and exploited the system, the U.S. economy also rests on trade with other countries and relies on making products that others want.louis vuitton purse The country has to make a profit on the world stage and it is hard-pressed to do so when the jobs have been exported and the most volatile expense, oil, represents a profit drain year after year.On Monday, Bank of America and Fannie Mae announced they had settled their differences over loans that were badly written from January 2000 through the end of 2008. The bank agreed to buy back $6.75 billion worth of troubled mortgage loans and $3.louis vuitton monogram vernis55 billion to cover fees and other obligations.Fannie Mae gave permission for BofA to sell the service rights to about 940,000 mortgage loans to other lenders. The value of those loans, BofA said, was $306 billion in "aggregate unpaid principal."In total, the bank said, the agreements "cover loans with an aggregate original principal balance of approximately $1.louis vuitton handbag4 trillion." That's the value of the properties without any interest piled on. That's the street value, in other words, for that portion of the street, the street on which a house might sit. In international markets the Nikkei 225 index in Japan dropped 0.lv handbag83 percent and the Hang Seng index in Hong Kong was flat, off 0.01 percent.The Sensex in India lost 0.47 percent and the S&P/ASX 200 in Australia gave up 0.louis vuitton speedy14 percent.In midday trading in Europe, the FTSE 100 index in Britain fell 0.29 percent while the DAX 30 in Germany shed 0.67 percent.handbags and wallets The CAC 40 in France lost 0.75 percent and the Stoxx Europe 600 slid 0.33 percent.
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Banking made simple

When is a bank a bank and when is a bank not a bank?The question is not philosophical.new louis vuitton bags Cutting to the quick, the new banking service described in The New York Times Business Section Wednesday begs for an answer. What is a service that has no bank branches, does not offer traditional paper check books to its customers, promises never to charge a fee for services (yet does already) and passes on its depositor responsibilities to CBW Bank and Bancorp, which the Times points out are federally insured brick and mortar banks?The question that is much more fun is how is this sort of bank going to scare the big boys? The service called Simple, which does make money on card swipes -- that's called a fee in various neighborhoods -- was born of frustration with traditional banks, their customer-bullying rules and their stingy information feeds. Profoundly -- not too strong a word here -- it crawled out of the same petrie dish that gave the United States the torturous Dodd-Frank financial overhaul bill that attempts to corral every possible malfeasance in a 2,000-year-old industry.So in one corner you have more than 600 pages of legal duct tape and in the other corner you have a bit of true-blue competition, the type that can steal customers from under Chase's nose just by being a touch more transparent.louis vuitton paris A race toward transparency would have saved a lot of late nights in Washington in recent years.Simple has a showroom-less quality to it. Like Amazon.com, it is a digital endeavor and doesn't work if a customer is beyond the reach of the telecommunications grid.buy louis vuitton bags It promises detailed analysis of a customer's financial habits, including the ability to tell them how much they spent on shoes last year. "Banks make money by keeping customers confused. There's no incentives to make the experience better," Simple co-founder Josh Reich told the Times.Oh, that does hurt.louis vuitton handbag Big banks are so tradition-hobbled and profit-focused that thinking outside the box from a customer's point of view is often changing the color of a deposit slip. From a business point of view, creative thinking means bundling securities together in not very transparent ways and then making side bets -- called derivatives -- on that. This leaves the customers high and dry and -- in 15 million cases or so -- unemployed, given the economic downturn and all of that.So here's an online start-up with 20,000 customers, a track record of $200 million in transactions in 2012 and $13 million in venture capital.gucci messenger bag Board members at some banks earn bonuses that are larger than that. Still, those board members might be looking over their shoulders wondering how to compete with honest competition or maybe how to squash said competition using a few of their own paper checks to do so. In international markets, the Nikkei 225 index in Japan rose 0.67 percent while the Shanghai composite index in China was flat, dropping 0.gucci messenger bag03 percent. The Hang Seng index in Hong Kong climbed 0.46 percent while the Sensex in India shed 0.38 percent.louis vuitton wallet for saleThe S&P/ASX 200 in Australia rose 0.38 percent.In midday trading in Europe, the FTSE 100 index in Britain gained 0.72 percent while the DAX 30 in Germany climbed 0.louis vuitton paris23 percent. The CAC 40 in France added 0.16 percent while the Stoxx Europe 600 rose 0.5 percent.louis vuitton online store
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New mortgage rules

The government consumer protection agency Sen.new louis vuitton bags Elizabeth Warren, D-Mass., is credited with dreaming up is about to redefine the mortgage game.Talk about a buzz kill. A new set of rules, some of which have been in the works for years, "will add some certainty to the mortgage industry about what the rules of the road are going forward," said Guy Cecala, president and Chief Executive Officer of the trade publication Inside Mortgage Finance, the Chicago Tribune reported.chanel bags onlineAs it does that, "It basically says we want everybody to make plain-as-vanilla mortgages," Cecala said.The new rules the Consumer Financial Protection Bureau is set to announce Thursday forbid balloon payments, loans that go longer than 30 years and lending to borrowers with total debts more than 43 percent of their gross income. It also bans loans in which the principle rises and interest-only mortgages.With a few simple rules, the agency is taking away some of the gimmicks and some of the gray areas that allowed the supposed protectors of the financial system to turn into predators.buy louis vuitton bags Of course, policing a system in which lenders make money and borrowers end up owning a house will be viewed from the point of view of winners and losers, which can displace the simple idea that a failed mortgage ends up with both lenders and borrowers on the short end of the stick. Conversely, a successful loan makes everybody look good.That seems to be the strategy here. But critics will argue that it is too safe, which means too restrictive.louis vuitton purse If the only loans that go through are the ones all but guaranteed to succeed, that can only mean fewer mortgages will be written.After the financial crisis and the ensuing economic downturn, it will be easier to agree that fewer mortgages could be a good thing. Some borrowers, however, will feel they are up for taking a bigger risk and some lenders will feel they are entitled to squeeze borrowers into a loan and hope for the best. Likely, this is a memory test.new louis vuitton bags The economic penalty of messing with mortgages is hard to forget in 2013. But consumers wait only a few months after a dangerous spike in gasoline prices to begin buying large cars again. Prosperous times do not lend themselves very well to careful rule-making. These rules are sound, but human nature being what it is, they are not solid.louis vuitton monogram In international markets Thursday, the Nikkei 225 index in Japan gained 0.7 percent, while the Shanghai composite index in China rose 0.37 percent. The Hang Seng index in Hong Kong added 0.louis vuitton epi59 percent, while the Sensex in India dropped 0.02 percent.The S&P/ASX 200 in Australia rose 0.32 percent.louis vuitton bags for saleIn midday trading in Europe, the FTSE 100 index in Britain was up 0.16 percent, while the DAX 30 in Germany gained 0.55 percent. The CAC 40 in France was flat, falling less than 0.louis vuitton handbags01 percent, while the Stoxx Europe 600 rose 0.01 percent.
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Another foreclosure mess

In the mid 1980s in a one-horse town in upstate New York, the government, with good reasoning, decided to build an addition to the Interstate highway system.louis vuitton monogram vernisIt was all going according to plan. Bids were put out, contracts signs and dump trucks arrived on the scene along with the rest of the mammoth paraphernalia that goes with highway construction. Then one day on a dirt road next to a brand new exit ramp a dump truck lost control if its brakes. They simply didn't work.gucci messenger bag Down went the truck, which careened across the two-lane road that the new interstate was replacing and slammed into the only two stores in the whole village -- a post office and a small convenience store.In one felled swoop, one truck had virtually wiped out a village. Nobody was hurt, but many people were furious. They looked high and low for some infraction, some regulation or law that this truck driver or the company might have broken.louis vuitton monogram But it turned out there was none. The truck was legal. It was a fluke malfunction and a fluke accident. Officials were so mad, however, they had to do something, so they charged the truck driver with procession of a knife.louis vuitton purseThis comes to mind when contemplating the dance of anger involved in prosecuting the major U.S. banks with running foreclosure mills in 2009 and 2010 that, as it turned out, were guilty of cheating homeowners of due process by simply rushing through the mountains of foreclosures that came about largely due to the banks' own reckless lending.Stuck with hundreds of thousands of foreclosures to process, banks undoubtedly cut a few important corners along the way.chanel handbagsWhen the banks were busted for shoddy, race-to-the-finish-line processing in so-called foreclosure mills, it was as easy a case as prosecutors ever were given. Attorneys general from all 50 states joined in the fun and in the first round they exacted a $26 billion settlement from five major banks, a fairly hefty payoff for their troubles.What the country was looking for, however, was one small, lousy incident in which a bank maliciously cheated a homeowner out of due process and threw a family out in the street -- a poster child for financial industry greed.Instead, they found mostly incompetence, not outright malicious corporate behavior.louis vuitton online storeMonths later, the story is turning out to be the poster child for irony, not greed. Along with the $26 billion settlement, regulators ordered banks to do a case-by-case review of their mortgages, to do it right and to find, if possible, the elusive poster child for corporate callousness.Instead, The New York Times reported Friday, the government reinvented the wheel. This week, regulators settled for a quick, $8.handbags new5 billion with 10 banks because government efforts to review loans was such a mess, they seemed to be imitating the malfeasance the government was looking to uncover.Similar to the foreclosure debacle, subcontractors were hired to do the case-by-case reviews. After that, the process looks similar to the banks' efforts except that banks rushed to save money and reviewers appear to have put on the brakes to make as much as they could. In one case, the Times reported, work was slow to arrive, so reviewers sat around doing nothing for a month, but collecting a paycheck.louis vuitton purse for sale Reviews were expected to take eight hours per loan at $250 per hour were taking 20 hours to complete. As such, the government spent $1 billion looking for a needle in a haystack. It is certainly not hard to find stories of hardship and despair. One woman was evicted in 2008, but did not know the bank had reversed its decision and now, for the second time on the same house, she is facing a foreclosure process.louis vuitton speedy Well-paid subcontractors are now being accused of botching the review of loans undertaken because banks had apparently botched their own foreclosures.As the Times pointed out, former Federal Deposit Insurance Corp. Chairwoman Sheila Bair offered an explanation that sounds eerily familiar; it is exactly what the banks said in 2010."This thing is a big mess which was dumped into the lap of the current Office of the Comptroller of the Currency leadership.replica louis vuitton wallet They are trying to make the best out of a very bad situation," said Bair, who opposed doing the reviews in the first place.In international markets Friday, the Nikkei 225 index in Japan rose 1.4 percent while the Shanghai composite index in China fell 1.78 percent.louis vuitton speedy The Hang Seng index in Hong Kong dropped 0.39 percent while the Sensex in India was flat, rising less than 0.01 percent.The S&P/ASX 200 in Australia slid 0.gucci messenger bag29 percent.In midday trading in Europe, the FTSE 100 index in Britain gained 0.09 percent while the DAX 30 in Germany slipped 0.15 percent.louis vuitton speedy The CAC 40 in France fell 0.36 percent while the Stoxx Europe 600 fell 0.35 percent.
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Ark. man shot dead after getting lost in Chicago

CHICAGO Police say an Arkansas man was shot dead in Chicago by a man he stopped to ask for directions.louis vuitton handbag The shooting occurred early Thursday. The Cook County medical examiner identified the victim as 55-year-old Robert Franklin of Blytheville, Ark. Police spokesman Officer Jose Estrada says the man Franklin asked for directions climbed in the backseat and robbed Franklin and a friend at gunpoint. Estrada says the suspect left the car and shot Franklin four times in the back.louis vuitton shop online Franklin's friend drove him to a hospital around 4 a.m. Franklin was pronounced dead minutes later. Estrada says nobody's in custody.buy louis vuitton bags Detectives are trying to determine where the shooting occurred. Violent crime is down in Chicago compared with last year, when homicides surged past 500 for the first time since 2008. ? 2013 The Associated Press. All Rights Reserved.chanel handbags This material may not be published, broadcast, rewritten, or redistributed.
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Vandals paint graffiti at Sixth Floor Museum in Dallas

DALLAS There has been an act of vandalism at one of the most historic places in North Texas, CBS station KTVT reports.replica louis vuitton wallet Graffiti found at the Sixth Floor Museum has officials discussing security for next month's commemoration of the 50th anniversary of the assassination of President John F. Kennedy. Someone tagged several benches outside the museum, located in an early 20th-century warehouse formerly known as the Texas School Book Depository. On Nov.louis vuitton wallet for sale 22, 1963, assassin Lee Harvey Oswald shot the president from a window on the sixth floor. The vandalism at the museum comes just as officials were ready to show off a recently completed renovation that coincides with the important anniversary. A new covered walkway is one of several changes that visitors will notice at the Sixth Floor Museum in downtown Dallas. Someone added the graffiti on the wooden benches on Tuesday.louis vuitton epi "It's clearly very disrespectful and the museum is really nice," visitor Sarah Kamrad said. "I just spent about an hour and a half here." The museum's director, Nicola Longwood, said: "It's real sad to see our new furniture marred." According to Longwood, vandals defaced the new facade that's part of a recent museum makeover.louis vuitton belt It's a makeover that includes a redesigned lobby with more security measures along with fewer entrances and exits. "We're just moving forward as we do every day, trying to give our guests a good experience," Longwood said. Crime is a concern as the 50th anniversary of the Kennedy assassination approaches. Extra security is planned around Dealey Plaza.new louis vuitton bags Meanwhile, museum officials believe their new renovations will be sufficient for the large crowds that are expected. Museum officials won't say whether security cameras captured the vandalism act. The benches can be repaired, but it will cost about $500. ? 2013 CBS Interactive Inc.louis vuitton wallet for sale All Rights Reserved.
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MLK papers go for more than $130k at N.Y.C. auction

Updated 8:12 PM ET NEW YORK Some civil rights movement history went up for sale Thursday, as papers from the Rev.louis vuitton monogram Martin Luther King Jr., including speech outlines and letters, brought in more than $130,000 at auction. They were sold by 88-year-old Maude Ballou, who worked as King's secretary from 1955 to 1960, through the New York office of Texas-based Heritage Auctions. Still work to do on Martin Luther King's dream, civil rights leaders say Martin Luther King's dream illustrated by long-standing friendship Guardian of history: MLK's "I have a dream speech" lives on A series of handwritten notes outlining one of King's speeches, his farewell address when he left the Dexter Avenue Baptist Church in Montgomery, Ala.gucci messenger bag, was the top lot. It sold for $31,250. Two letters King wrote to Ballou from India sold for $18,750 and $17,500. More than 100 items were up for auction.louis vuitton monogram The prices include a 25 percent commission. 10 Photos MLK Jr.'s secretary to auction artifacts One item originally marked for sale was pulled from the auction just before it started. The page was believed to have been from King's "I Have a Dream" speech at the March on Washington, but Sandra Palomino, director of historical manuscripts for Heritage Auctions, said there was some question of whether it was actually part of another speech, so it was pulled.louis vuitton epi The page was sent to Ballou on Jan. 31, 1968, weeks before King was assassinated, by Lillie Hunter, bookkeeper for the Southern Christian Leadership Conference. Play Video MLK's "I have a dream speech" lives on King's estate sued the secretary's son, Howard Ballou, in federal court in Jackson, Miss., in 2011 in a bid to take possession of the items.chanel handbags U.S. District Judge Tom Lee dismissed the lawsuit in March, saying there was nothing to contradict Maude Ballou's testimony that King gave her the material and that the statute of limitations had passed. The 5th U.louis vuitton handbagsS. Circuit Court of Appeals in New Orleans upheld the decision based on the statute of limitations. King's estate, operated as a private company by his children, is known to fight for control of the King brand. Harry Belafonte sued the estate this week in Manhattan federal court over the fate of three documents he tried to sell at auction.chanel bags online Ballou, of Ridgeland, Miss., told The Associated Press last month that selling her collection was bittersweet. She said a portion of the proceeds would be used to establish an education fund at Alabama State University. ? 2013 The Associated Press.louis vuitton paris All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
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LAX airport blasts suspect pleads not guilty

LOS ANGELES A baggage handler accused of setting off dry ice bottle blasts at Los Angeles International Airport pleaded not guilty Thursday to two charges of possessing a destructive device in a public place.louis vuitton shop online Dicarlo Bennett, 28, an employee of an airport service company, could face up to six years in prison if convicted. Bennett said little beyond acknowledging his name during a brief hearing before Superior Court Judge Keith Schwartz. LAX dry ice bottle bomb investigation leads to arrest of airport contractor Dicarlo Bennett Police said he set off the blasts Sunday for his own amusement in areas of the airport accessible only to employees. He was ordered held on $1 million bail.louis vuitton epi Another hearing to review his bail was set for Oct. 23. Investigators believe the bombs were set "out of a desire to construct and experience a device exploding," said Los Angeles police Lt. John Karle.buy louis vuitton bags He called it foolish and negligent behavior. Police primarily relied on interviews with witnesses and physical evidence but also reviewed surveillance video before arresting Bennett. Play Video Arrest made in connection with LAX dry ice bombs Airport officials changed their policy on how dry ice is discarded after an abandoned container of dry ice from a plane was used to fashion and explode the bombs. The airport will now require employees to return dry ice - often used to keep food fresh - to a warehouse and not leave it out on the tarmac, said Los Angeles Airport Police Chief Patrick Gannon.gucci messenger bag Airport officials plan to meet with law enforcement authorities in the coming days to examine other potential security enhancements at one of the nation's busiest airports. Cameras cover some of these restricted-access areas, but Downing said there isn't as much camera coverage as in public-access areas. The union representing police at LAX said the incident highlights the need for the installation of more security cameras at the airport. ? 2013 The Associated Press.chanel bags online All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Arizona Air National Guard swept up in fraud scam

PHOENIXNearly two dozen current and former members of the Arizona Air National Guard responsible for remotely operating drones to support troops in Iraq and Afghanistan have been indicted on charges including theft and money laundering in a $1.louis vuitton handbag4 million scam to defraud the federal government, authorities announced Monday. The eight officers and 13 enlisted men and women, including the colonel and former commander of the 214 Reconnaissance Group, falsified their records and used fake home addresses in order to receive money meant for those traveling outside of their home regions for duty assignments, Arizona Attorney General Tom Horne said. Between November 2007 and September 2010, authorities said some of the defendants took home salaries that were up to five times the amount they should have been receiving. Some of the suspects defrauded the government of more than $100,000 each, Horne said.louis vuitton handbags "In this case, all of these people lived in Tucson and put down fraudulent homes of record in other states" to qualify for the extra pay, Horne added. The indictment announced Monday comes after an 18-month investigation by state and federal agencies. Only eight of those charged remain members of the National Guard, said Brig. Gen.louis vuitton handbags Michael T. McGuire, adjutant general of the Arizona National Guard. "I assure you we take these allegations very seriously," McGuire said. "The Arizona Air National Guard remains ready and capable.louis vuitton wallet for sale" He declined to discuss specifics of the case, citing the ongoing investigation. The suspects haven't been arrested, but instead were sent summons to appear in court for arraignment Friday in Tucson. The indictment will be unsealed then. The suspects worked out of Davis-Monthan Air Force Base in Tucson and were part of an elite military unit tasked with flying drones over Iraq and Afghanistan aimed at providing vital information to troops on the ground.louis vuitton monogram vernis The charges include conspiracy, conducting an illegal enterprise, fraud, theft and money laundering. Authorities said, if convicted, some of the defendants could be sentenced to up to 12.5 years in prison with the commander facing more serious charges for using his position of power to help facilitate the scam. ? 2013 The Associated Press.buy louis vuitton bags All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Justice Department brings new charges in Blackwater shootings

WASHINGTON The Justice Department Thursday brought fresh charges against four former Blackwater Worldwide security contractors, resurrecting an internationally charged case over a deadly 2007 shooting on the streets of Baghdad.louis vuitton paris A new grand jury charges the men in a shooting that inflamed anti-American sentiment in Iraq and heightened diplomatic sensitivities amid an ongoing war. The men were hired to guard U.S. diplomats.louis vuitton belt The guards are accused of opening fire in busy Nisoor Square on Sept. 16, 2007. Seventeen Iraqi civilians died, including women and children. Prosecutors say the heavily armed Blackwater convoy used machine guns and grenades in an unprovoked attack.louis vuitton handbag Defense lawyers argue their clients are innocent men who were ambushed by Iraqi insurgents. At the time, CBS News found the Iraqi witness accounts of the shootings were consistent. They said a four-vehicle Blackwater convoy drove into a traffic circle but was blocked by barriers protecting a maintenance crew, reported CBS News correspondent Elizabeth Palmer. The Blackwater guards threw water bottles, warning the cars to stop, but as one car continued to inch forward, Blackwater started shooting, instantly killing the driver.gucci messenger bag The indictment revives a case that has lingered for years in Washington's federal court. The guards were charged with manslaughter and weapons violations in 2008, but a federal judge the following year dismissed the case, ruling the Justice Department withheld evidence from a grand jury and violated the guards' constitutional rights. The dismissal outraged many Iraqis, who said it showed Americans consider themselves above the law. Vice President Joe Biden, speaking in Baghdad in 2010, expressed his "personal regret" for the shootings.gucci messenger bag A federal appeals court reinstated the case in 2011, saying now-retired Judge Ricardo Urbina had wrongly interpreted the law. Prosecutors again presented evidence before a grand jury, and U.S. District Judge Royce Lamberth gave the Justice Department until Monday to decide what to do with the case.louis vuitton speedy The defendants include Dustin Heard, a retired U.S. Marine from Knoxville, Tenn.; Evan Liberty, a retired U.louis vuitton speedyS. Marine from Rochester, N.H.; Nick Slatten, a former U.louis vuitton bags for saleS. Army sergeant from Sparta, Tenn., and Paul Slough, a U.S.louis vuitton paris Army veteran from Keller, Texas. Slatten is charged with 14 counts of voluntary manslaughter and 16 counts of attempt to commit manslaughter; Liberty and Heard are charged with 13 counts of voluntary manslaughter and 16 counts of attempt to commit manslaughter; and Slough is charged with 13 counts of voluntary manslaughter and 18 counts of attempt to commit manslaughter. All four were also charged with one count of using and discharging a firearm during and in relation to a crime of violence. They were charged under the Military Extraterritorial Jurisdiction Act, a statute that allows the government to prosecute certain government employees and contractors for crimes committed overseas.louis vuitton epi Defense lawyers have argued that statute does not apply in this case since the guards were working as State Department contractors, not for the military. Prosecutors last month agreed to dismiss their case against a fifth guard, Donald Ball, a retired Marine from West Valley City, Utah. A sixth guard, Jeremy Ridgeway of California, pleaded guilty and is awaiting sentencing. The Justice Department had earlier dropped Slatten from the case, but after the appeals court decision reinstated the prosecution, the government said he remained a defendant.lv handbag The company formerly known as Blackwater Worldwide is under new ownership and is now headquartered in Virginia. It had changed its name to Xe Services, but the company was sold to a group of investors who then changed the name to Academi. Blackwater founder Erik Prince is no longer affiliated with the company. In moving forward with the case, the government will seek to overcome some of the legal problems that have dogged the prosecution.louis vuitton handbag The case ran into trouble because the State Department promised the guards that their statements explaining what happened would not be used for criminal prosecution. The five guards told investigators that they fired their weapons, a crucial admission. Because of a limited immunity deal, prosecutors had to build their case without those statements, a high legal hurdle. In dismissing the case, Urbina said prosecutors had read the statements, reviewed them in the investigation and used them to question witnesses and get search warrants.louis vuitton speedy Court documents also reveal conflicting evidence, with some witnesses saying the Blackwater convoy was under fire and others saying it was not. ? 2013 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.handbags and wallets The Associated Press contributed to this report.
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Cops: Knife-wielding man forces way onto Ark. school bus

JACKSONVILLE, Ark.handbags new Authorities say a man armed with a knife forced his way onto a school bus as it picked up children in central Arkansas, then drove it several miles during a police pursuit. Nicholas John Miller / Jacksonville Police Dept. Police say 11 children and the driver were aboard when 22-year-old Nicholas John Miller got onto the bus Thursday morning in Jacksonville, a Little Rock suburb. Jacksonville police spokeswoman April Kiser says Miller was armed with a knife and pulled over only after seeing police spike strips on the road.chanel bags online Kiser says no one was injured. She says it's unclear why Miller boarded the bus. Kiser told CBS Little Rock affiliate KTHV-TV that Miller first tried to allegedly obtain a car from a resident in the neighborhood but was unsuccessful. (Scroll down to watch a report from KTHV-TV) A spokeswoman with the Pulaski County Special School District told KTHV-TV the suspect boarded the bus at a regularly scheduled bus stop.handbags and wallets Miller was arrested on charges of vehicle piracy, kidnapping and aggravated assault. He hadn't been booked in the county jail by Thursday afternoon, and it wasn't immediately clear if he had an attorney. ? 2013 CBS Interactive Inc. All Rights Reserved.louis vuitton handbag This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.
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