Tag: news

“We fumbled the rollout on this health-care law,” could be President Obama’s understatement of the century. In the month-or-so since Obamacare was unleashed 106,185 people enrolled (based on a loose re-definition by the White House). However, in that same period, the WSJ reports a stunning 4.02 million people received policy cancellations. So, in a month, a total of 3,918,205 fewer people are now ‘enrolled’ in a heathcare plan than before Obamacare. So far, California, Florida, and Washington are suffering the most under Obamacare…

 

And here’s the states where the coverage cancellations are the greatest…

 

and the additions and cancellations broken down by state…

 

Source: WSJ

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/wH3giPCG0tw/story01.htm Tyler Durden

The Republicans' "Keep Your Health Plan Act of 2013" bill has passed the House (as somewhat expected). However, what is more critical – as we noted previously – is that a large number of Democrats broke ranks and voted for the bill.

• *HOUSE VOTES 261-157 FOR REPUBLICAN BILL ON KEEPING HEALTH PLANS
• *THIRTY-NINE DEMOCRATS JOIN REPUBLICANS ON HEALTH-POLICY BILL

39 House Democrats voted in favor, shunning Obama's proclamation that he would veto the bill (which he described as "threatening the health care security of hard working, middle class families,") anyway if it came to his desk. It is unlikely to pass the Senate.

 

 

 

Why this is a big deal? Here's what Obama said about the bill:

With health care costs rising at such low rates, "this bill would be a major step back," reads the White House statement on the law. H.R. 3350 rolls back the progress made by allowing insurers to continue to sell new plans that deploy practices such as not offering coverage for people with pre-existing conditions, charging women more than men, and continuing yearly caps on the amount of care that enrollees receive. The Administration supports policies that allow people to keep the health plans that they have. But, policies that reverse the progress made to extend quality, affordable coverage to millions of uninsured, hardworking, middle class families are not the solution. Rather than refighting old political battles to sabotage the health care law, the Congress should work with the Administration to improve the law and move forward. The final line reads, "If the President were presented with H.R. 3350, he would veto it."

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/jk43maOTcIE/story01.htm Tyler Durden

The Republicans' "Keep Your Health Plan Act of 2013" bill has passed the House (as somewhat expected). However, what is more critical – as we noted previously – is that a large number of Democrats broke ranks and voted for the bill.

• *HOUSE VOTES 261-157 FOR REPUBLICAN BILL ON KEEPING HEALTH PLANS
• *THIRTY-NINE DEMOCRATS JOIN REPUBLICANS ON HEALTH-POLICY BILL

39 House Democrats voted in favor, shunning Obama's proclamation that he would veto the bill (which he described as "threatening the health care security of hard working, middle class families,") anyway if it came to his desk. It is unlikely to pass the Senate.

 

 

 

Why this is a big deal? Here's what Obama said about the bill:

With health care costs rising at such low rates, "this bill would be a major step back," reads the White House statement on the law. H.R. 3350 rolls back the progress made by allowing insurers to continue to sell new plans that deploy practices such as not offering coverage for people with pre-existing conditions, charging women more than men, and continuing yearly caps on the amount of care that enrollees receive. The Administration supports policies that allow people to keep the health plans that they have. But, policies that reverse the progress made to extend quality, affordable coverage to millions of uninsured, hardworking, middle class families are not the solution. Rather than refighting old political battles to sabotage the health care law, the Congress should work with the Administration to improve the law and move forward. The final line reads, "If the President were presented with H.R. 3350, he would veto it."

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/jk43maOTcIE/story01.htm Tyler Durden

The Chicago Mercantile Exchange admits that in July it was hacked:

• *CME HAD CYBER INTRUSION IN JULY, SOME CUSTOMER INFO COMPROMISED
• *CME: SOME CUSTOMER INFO ON CME CLEARPORT PLATFORM COMPROMISED
• *CME GROUP NO EVIDENCE TRADES ON CME GLOBEX ADVERSELY IMPACTED

Algos # 0001 through #9999 now have their Vacuum Tube Security Number leaked

 

Via CME,

In a communication to certain customers today, CME Group confirmed it was the victim of a cyber intrusion in July, making it one of the many organizations subject to this type of crime in recent months.

 

To date, there is no evidence that trades on CME Globex were adversely impacted, or that the provision of clearing services by CME Clearing or CME Clearing Europe, or trading in CME markets, were disrupted.

 

CME Group takes these events very seriously and places a high priority on protecting its customers’ information and ensuring the integrity of its markets.  Though CME Group maintains sophisticated systems, teams and processes to prevent such incidents, and promptly took significant actions to address the incident, CME Group has learned that certain customer information relating to the CME ClearPort platform was compromised.  To protect participants, CME Group forced a change to customer credentials impacted by the incident, and is corresponding directly with the impacted customers.

 

The incident is the subject of an ongoing federal criminal investigation and CME Group is cooperating with law enforcement in its investigation into this matter.

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/9eHrskcCU3U/story01.htm Tyler Durden

Starting from a simple loan (remember them), credit markets have evolved many innovations to cater to an increasing need for leverage (intrinsic firm leverage – levered loans to high-yield bond market; and extrinsic instrument leverage – securitizations and derivatives) for issuers, traders, and investors. However, as the following maze of the history of debt, NY Times shows these have led to many costly crises (and will do in the future…)

 

 

Source: NY Times

via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/kqMkBBujRkk/story01.htm Tyler Durden