JPMorgan Chase Sells Off All Short-Term U.S. Government Debt

NEW YORK (AP) — Investment banking giant JPMorgan Chase said Thursday it has sold all of its exposure to short-term U.S. government debt out of its money market funds, following a similar move by other money market mutual fund managers.

The announcement comes a day after Fidelity Investments, the nation’s largest manager of money market mutual funds, said it no longer holds any U.S. government debt that comes due around the time the nation could hit its borrowing limit.

In a statement Thursday, JPMorgan said its money market funds no longer held any U.S. Treasurys that mature or have payments scheduled between Oct. 16 and Nov. 6. The New York bank said it has also increased its liquidity position in the funds. JPMorgan holds about $257 billion in its money market funds, according to its website.

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HUFFPOST HILL – Government Still Pointlessly Closed

Republicans dropped their anti-Obamacare efforts in exchange for the totally reasonable, commonsense request that we decimate the social safety net in time for Thanksgiving. Harry Reid won’t negotiate the debt ceiling until the government is reopened, meaning he is either playing hardball are dying to visit Mount Vernon. And a new report finds the current administration’s crackdown on whistleblowers rivals that of the Nixon administration. When reached for a comment, an administration official began to softly weep and mutter something about the safety of his family before hanging up. This is HUFFPOST HILL for Thursday, October 10th, 2013:

OBAMA REJECTS GOP SHORT-TERM DEBT PROPOSAL – Times: “President Obama on Thursday rejected a proposal from politically besieged House Republican leaders to extend the nation’s borrowing authority for six weeks because it would not also reopen the government. Yet both parties saw it as the first break in Republicans’ brinkmanship and a step toward a fiscal truce. Twenty Republicans, led by Speaker John A. Boehner, went to the White House at Mr. Obama’s invitation after a day of fine-tuning their offer to increase the Treasury Department’s authority to borrow money to pay existing obligations through Nov. 22. In exchange, they sought the president’s commitment to negotiate a deal for long-term deficit reduction and a tax overhaul…Still, the House Republican offer represented a significant breakthrough. Representative Paul D. Ryan of Wisconsin, the chairman of the House Budget Committee, said Republicans were now willing to go to formal negotiations with Senate Democrats over a long-term, comprehensive budget framework, a move Republicans have resisted since April. And while House Republicans are divided over even a short-term increase in the debt ceiling, Representative Tim Griffin, Republican of Arkansas, said the proposal would pass with Republican and Democratic votes.” [NYT]

RT @AP: BREAKING: Majority Leader Cantor: White House meeting useful, ‘we expect further conversations tonight’

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Government Shutdown A Bigger Downer As It Goes On

WASHINGTON — House Speaker John Boehner (R-Ohio) announced Thursday that Republicans would seek a deal to raise the country’s borrowing limit for six weeks. While potentially a breakthrough for stalled budget negotiations, the proposal wouldn’t reopen the government, raising fears the shutdown could drag on for weeks.

The longer the shutdown persists, the worse it’ll get. Hundreds of thousands of furloughed workers will miss paydays and some government safety net programs will unravel.

Candace Holmes worries her phone will get shut off soon. Holmes, 65, is a furloughed employee at the Environmental Protection Agency. Since the furlough, she’s filed for unemployment and started shopping at the dollar store for her food.

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Harvey Milk To Be Honored With U.S. Postage Stamp

The Harvey Milk Foundation confirmed Oct. 10 that the U.S. Postal Service would honor gay rights icon Harvey Milk with a stamp in honor of his memory and legacy.

Milk, the first openly gay man to hold political office in California, will break new ground once again as the first openly LGBT political official to be featured on a postage stamp.

Stuart Milk, Harvey’s nephew, broke the news on Twitter:

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5 Verizon innovations we really hope don’t get misused

Verizon Executive Vice President and Chief Technology Officer Tony Melone speaking at the Innovation Center.

(Credit: Lynn La/CNET)

Earlier this week, Verizon hosted a media event at its Innovation Center in San Francisco to highlight some of its recent business ventures and tech projects. There were glass-paneled tables, a huge interactive mural, and a handful of promo videos explaining how the Center partners up with other companies, big and small, to solve problems in health care, environmental, and consumer industries using technology. Oh, and there was hummus. It was nice.

There were also dozens of demos that went over several of Verizon’s key projects. Some devices are very close to coming to market, whereas others, like the Golden-i headset below, is already available to consumers.

And while many of the devices’ original intentions are useful and admirable, it was also all too easy to see how technology that’s meant to “answer life’s toughest problems” could be used for less-compelling purposes. Check out the list below for some of the… [Read more]

Related Links:
Verizon: Google Nexus 7 LTE support is coming. Really
Verizon CEO: Unlimited data plans just aren’t sustainable
Taking touch beyond the screen with futuristic human interface concepts at CEATEC 2013
Motorola’s impressive new smartphones
HTC at a loss: Where does it go from here?

    



John Hickenlooper Hammers ‘Knuckleheads’ In Congress Over Shutdown

Colorado Gov. John Hickenlooper (D) hammered the “knuckleheads” in Congress over the federal government shutdown on Thursday, citing the devastating effects it is having on the state’s flood victims who are still trying to get their lives back together.

“We just had the worst floods we’ve had in the history of the state, so we’ve had issues like 20 million gallons of raw sewage got dumped into our river systems,” Hickenlooper said to ABC News’ Rick Klein. “And so we’ve had flood water — we have E. coli at high, dangerously high levels in many, many places,” said Hickenlooper. “In many ways you couldn’t have a worse time to have a shutdown. I mean it really is a tragic failing on many, many levels.”

After Colorado’s historic flooding which resulted in the deaths of nine people and over $2 billion in damages, much attention was focused on spills from the state’s oil and gas operations — one of the most densely drilled regions of the U.S. — which were inundated by floodwaters last month. But a recent report from the state health department found no evidence of oil pollutants in some of Colorado’s rivers and streams. Instead, they found a tremendous amount of E. coli.

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Owner Of Wheelchair-Bound Cat Fined For Not Using Leash

Pets in wheelchairs apparently need to be leashed, the same as their able-bodied counterparts. One Florida woman learned as much when she was ticketed for walking her disabled kitty without a tether.

Yvonne Steel, the owner of wheelchair-bound cat Pooh Bear, was fined $230 after animal services officers in Melbourne (part of Brevard County) spotted her pets roaming free.

In addition to fines, she was also slapped with tickets for failing to keep her Chihuahua on a leash and for a rabies shot violation.

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Rick Reilly’s Father-In-Law Says He Was Misquoted In ESPN Column Defending Redskins Name

In his recent column defending the name of the Washington Redskins, ESPN columnist Rick Reilly highlighted the opinion of his father-in-law. As portrayed by Reilly, his wife’s father, Bob Burns, was a bundle holder in the Blackfeet Tribe who didn’t find the nickname of Dan Snyder’s football team offensive. Rather, he found, according to Reilly, the entire controversy swirling around the moniker to be “silly.” Less than a month later, Burns set the record straight, claiming that he’d been misquoted and making it clear that he would like to see the team’s “damaging and racist” name changed.

“Let me be clear: The racial slur “redskins” is not okay with me,” Burns, who is a Blackfeet elder, wrote in a response published by Indian Country Today Media Network on Oct. 10. “It’s never going to be okay with me. It’s inappropriate, damaging and racist.”

Such a stance is at odds with the way that the 11-time National Sportswriter of the Year portrayed Burns in his ESPN.com column dated Sept. 18.

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Obama Rejects Republican Proposal For Short-Term Debt Limit Plan: Report

President Barack Obama has rejected a Republican proposal for a short-term debt limit hike, the New York Times reports.

On Thursday, Republican House leaders offered Obama and the Senate a six-week hike of the debt limit, but no deal to reopen the shuttered federal government. Senate Majority Leader Harry Reid (D-Nev.) said earlier Thursday the deal was “not going to happen.”

This is developing… Check back for more…

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Starbucks Employee Chad Bosquez’ Kindness Helps Hartmann Family Dog’s Miracle Recovery

Chad Bosquez wears a Pokemon belt to work.

The 24-year-old Starbucks supervisor keeps the fun and eccentric belt on while he makes drinks, oversees employees, and operates the drive-through at a Seattle store. Sometimes, he forgets he’s wearing it — until a customer points it out.

Nic Hartmann complimented the Pokeball-festooned belt while he and his wife, Jessie, were waiting in their car for their order one afternoon in September.

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