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..There's a little Samuel Pepys in all of us..

Monday, July 18, 2011

A former News of the World journalist who made phone-hacking allegations against the paper has been found dead..
In other developments in the phone-hacking story yesterday..
Metropolitan Police Assistant Commissioner John Yatesnhas resigned following growing pressure that 'The Independent Police Complaints Commission'.. received referrals from the Metropolitan Police Authority about the conduct of four current or former senior Met officers..
Labour leader Ed Miliband is on this like white on rice.. again attackeding David Cameron for hiring former News of the World editor Andy Coulson at Number 10.. This has become something on an ongoing joke.. It begs the question, perhaps tonue in cheek but perhaps then again, not.. that is there no one as Pure as Caesars Wife..?
Among all of those who deliver our morning dose of the news.. are there none to be found who could't change unsullied..?
The point is, that there is not, and to expect scandals from those who invent them, is something akin to getting bread from your baker..
Yours is the choice from whom to buy..

Former News International chief executive Rebekah Brooks confirmed she would appear before a committee of MPs tomorrow, alongside Rupert and James Murdoch, despite her arrest and questioning by police on Sunday..
News Corporation established an independent body headed by senior barrister Lord Grabiner QC to lead its internal inquiry into the News of the World phone-hacking scandal..
And in the meanwhile.. back at the wallet..Shares in News Corporation dropped by 7.6% to a two-year low in trading in Australia, and suffered a 4.3% fall in New York..
The Serious Fraud Office said it would give "full consideration" to a request by Labour MP Tom Watson to investigate out-of-court settlements made to hacking victims
Press Association reporter Laura Elston's lawyer said she would would face no further action. She had been arrested last month by police investigating allegations of phone hacking by journalists..
Mr Yates checked the credentials of Neil Wallis before the Met employed the former News of the World deputy editor..
Mr Wallis was arrested and released on bail on Thursday on suspicion Sean Hoare had told an American newspaper the practice was far more extensive than the paper acknowledged when police first investigated hacking claims.. "The death is currently being treated as unexplained, but not thought to be suspicious.. Police investigations into this incident are ongoing.."
He also said the then NoW editor Andy Coulson had asked him to hack phones.. something Mr Coulson has denied..

As Harry Habersagen used to say, "It's hard times in Lankhmar..
The euro and stock markets fell.. borrowing costs of indebted countries rose.. as worries over debt crises in the eurozone and US mounted..
A financial health check on 90 European banks, published last Friday, failed to ease nervous markets.. a mere band aides effort at the best of times..
The Euro touched a record low against the Swiss franc, and bond yields in Spain and Italy hit new highs..
Financial shares fell sharply, with Royal Bank of Scotland and Societe Generale down about 5%. on the day..
And recall, those who have been faithfuls readers for the past few years.. we have been touting gold as one of the most profitable commodities.. the price of gold topped $1,600 an ounce for the first time as investors put money into the haven commodity.. The spot gold price hit $1,600.40, before pulling back slightly to $1,598.76..
And despite bumper crops of wheat and soya throughout the American Midwest dropped it's annual reports net worth down by nearly a third..
Considering the droughts, floods.. massive relocation's.. a bounce back is bound to be seen soon, as foreign, especially Asian markets wait for a bottom-out..
Watch for this trend to continue for the foreseeable future.. Those economies with realistic balances in stock.. will be the one's who manage to balance their paper with their commodity needs..
In a further sign of scepticism in the financial markets that governments will be able to bring an end to the debt crisis, yields on Italian and Spanish bonds rose..
The rate on ten-year Italian bonds exceeded 6%, the most since the euro's debut in 1999..The Spanish equivalent rose almost 0.2 percentage points to 6.37%..
And to top the icing on the cake.. Confidence in Spain's economy was dented by news that its banks have 117.6bn Euros in outstanding loans that are at risk of not being recovered..
Here come those 'financial black holes'..

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