French
Farmers Snarl Roads Into Paris in Hollande Tax Protest - (www.bloomberg.com) French
farmers snarled traffic into Paris as they drove tractors onto highways to
protest against taxes and new regulations. A total of seven roadblocks were up
in the Paris region, according to the website of DiRiF, which runs the area’s
road network, and which advised commuters to take public rail transport.
Television news channels showed long lines of blocked traffic under rainy skies
and near-freezing temperatures. “I don’t think this is the right way to express
one’s views,” Agriculture Minister Stephane Le Foll said in an interview in Le
Figaro newspaper. “We are always open to dialogue.” The action is the latest in
tax revolts in France,
which in recent weeks has seen horse-riding clubs, truckers and small retail
outlets protesting against increased levies by President Francois Hollande’s
government. Hollande, who’s seeking to narrow the government’s budget gap, has
become the least popular French leader since 1958.
[Reuters]
U.S. rejects Fairholme's proposal to recapitalize Fannie, Freddie - (www.reuters.com) The
United States rejected Fairholme Capital Management's recapitalization proposal
of Fannie Mae and Freddie Mac,
saying the only way to revamp the home loan market is through proper housing finance reform,
according to Gene Sperling, a senior adviser to the president. Last week, Bruce
Berkowitz's Fairholme said it wants to buy the mortgage-backed securities
insurance businesses of Fannie and Freddie by bringing in $52 billion in new
capital, in a bid to resolve the uncertain future of the mortgage financiers by
freeing them from U.S. government control. The recapitalization plan sought to
raise about $34.6 billion in exchange for preferred stock, and at least $17.3
billion from preferred stockholders in a rights offering.
California rejects Obamacare fix for canceled
plans - (www.cnbc.com) The
board of California's health insurance exchange, Covered California, on
Thursday decided not to allow insurance plans that do not meet Obamacare
standards to continue operating in that state. The move effectively rejects the
fix President Barack Obama proposed to salve the deeply troubled rollout of the
Affordable Care Act. That state already faces an age-old health insurance
challenge: The old folks are outrunning the kids in the race to sign up for
California's insurance. If the trend continues, it might lead to higher
premiums down the line. People between the ages of 45 and 64 have enrolled in
California's health exchange at a much higher rate than their overall portion
of the state's total population, while younger adults' enrollment levels
essentially track their overall population size, data released on Thursday
revealed.
Baltimore's $3 billion water infrastructure
crisis - (www.cnbc.com) Like a lot of aging American cities, Baltimore is scrambling to plug the leaks in its water
system and its budget at the same time. On a recent cloudless October morning,
over the din of a gas-powered paver saw, a city public works crew, clad in
lime-green vests and yellow hard hats, finishes burying a section of pipe to
supply fresh drinking water to a block of row houses. Nearby lies a section of
old pipe, choked with rust and dirt like the clogged artery of a heart attack
victim—likely installed just about the time Franklin D. Roosevelt took office and
embarked on a New Deal of federal infrastructure spending. As city officials
across the country are painfully aware, those days of federal largess are long
done. The recent surge of nearly a trillion dollars in federal stimulus
spending has mostly dried up. But leaky water pipes, crumbling storm drains and
outdated wastewater treatments are putting major pressure on local government
budgets.
Man
Dead in Dania Beach Home Fire – (www.nbcmiami.com) A
man was killed in a house fire in Dania Beach on Wednesday. Friends identified
the man as Tad Vaughn, and authorities said they believe he killed himself. "I
was standing in front of his house before the fire department got here,"
neighbor Gloria Lawson said. "I had no idea there was such danger,
imminent danger." Outside the front and back doors, numerous propane tanks
were found. If Broward Sheriff Fire Rescue didn't respond as fast as it did,
there could have been multiple explosions, authorities said. "It would be
a very catastrophic event," said neighbor and firefighter Bob Carpenter.
"There would be shrapnel. There would be flying metal from the container
failing itself. The fire ball would be substantial." Authorities spent the
day at the home on northwest 7th Street collecting evidence from inside and
outside. Firearms and cases after cases of ammunition were brought out hours
later. That ammunition also could've fired off in the blaze.
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