In 2009, Silverton Bank, in Georgia, failed. The FDIC spent $385 million taking over the bank, it was the biggest bank failure in Georgia’s history.
Now the FDIC is suing the former board of directors, for gross incompetence.
The FDIC alleges that Silverton executives engaged in “extravagant spending on unnecessary items”, with “a complete disregard of […] Continue Reading…
“This has literally flabbergasted the American maritime industry. The idea was to create American jobs and help the economy. But all the profit from the sale of the oil has gone to traders and oil companies and all the profit from movement of the oil has gone to foreign shippers and […] Continue Reading…
Florida based GEO Group, got slammed by hundreds of Goodyear, Arizona residents, after GEO attempted to convince local authorities to let them build a new prison.
The Arizona Department of Corrections wants a new 5,000 bed prison. They’ve picked 5 possible locations. The prison will be run by a contractor, for 20 years.
So far several […] Continue Reading…
“The decision to give control of an immigration center in Scotland to a company with so many allegations against them in relation to human rights shows a staggering lack of judgment. The Scottish people will be horrified by this decision.”-Anas Sarwar, Glasgow Central MP
The GEO Group, a corporation that manages […] Continue Reading…
Google has agreed to pay $500 million in fines, for running illegal Canadian pharmacy adds.
The U.S. Department of Justice, said it is illegal to mail prescription drugs from outside the country. Many of the Canadian online pharmacies did not require a prescription either.
Google officials admit they knew what they were doing could get them […] Continue Reading…
“Samsung welcomes the Düsseldorf District Court’s decision to suspend the pan-European preliminary injunction against the Samsung Galaxy Tab 10.1.”- Rachel Jones, Samsung
Early in August Apple filed a complaint with the EU, over the Samsung Galaxy Tab. Apple claims the Samsung tablet is too similar to the iPad 2. At first the EU […] Continue Reading…
Human skin has been bio-engineered to include spider silk. Scientists in the Netherlands then fired a bullet at it. Turns out it’s bullet proof!
Don’t get too excited, it was only a .22 caliber bullet. But it shows promise, after all spider’s silk is the strongest thing in nature.
https://youtu.be/iX3LtVuGp4c
The experiment is known as 2.6g 329m/s […] Continue Reading…
“If the U.S. or the EU are proudly focusing on internet freedom, while security and other ICT products made in the West are used to repress the same citizens we are trying to protect, this is clearly neither credible nor effective.”-Marietje Schaake, EU Member of Parliament from Netherlands
In Bahrain, where the […] Continue Reading…
Recently, the President of Germany criticized German Chancellor Angela Merkel for going along with the European Central Bank in bailing out Greece, and other countries in economic trouble.
“That is asking for trouble in the long run and can only be tolerated in the interim.” and “I consider the sizeable purchase of individual states’ bonds […] Continue Reading…
The Germany auto industry has seen skyrocketing sales this year, mainly in China and India. But a Center Automotive Research at the University of Duisburg-Essen, Germany, study predicts dire sales in the near future.
CAR boss Ferdinand Dudenhöffer, says the growing debt problems of Europe, United States, and even Japan, will eventually drag down the […] Continue Reading…