US banks may lose billions of dollars

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JNN 16 Nov 2010 : A US federal watchdog has warned that American banks could face billions of dollars in losses over widespread problems in foreclosure paperwork.

In its latest report released on Tuesday, the Congressional Oversight Panel drew out a range of possible outcomes for the foreclosure paperwork discrepancies that emerged in September.

The 125-page report said that the most optimistic scenario would prove concerns were “overblown” and banks would be able to resume work as soon as possible.

However, it warned that the scandal could become disastrous for the banks, leaving them vulnerable to a wave of legal challenges if the banks are unable to prove that they own the mortgage loans they claim to own.

The validity of some 33 million mortgage loans are questioned and could result in billions of dollars in unexpected losses.

The panel, which oversees the US government’s Wall Street bailout, also indicated that bank losses could lead to “even greater disruptions” in the already troubled housing market.

US banks are accused of signing hundreds of foreclosure documents without proper review each day. The illegal practice has been labeled as “robo-signing.”

The fiasco has reignited public anger with banks which received billions of dollars in taxpayer aid during the financial crisis which officially began in 2007.

Giant banks such as Bank of America, JPMorgan, Chase, and GMAC have already suspended tens of thousands of foreclosures across the country, resulting in substantial losses for the companies.

‎'Iran wants closer ties with Pakistan'‎

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JNN 16 Nov 2010 – Iranian President Mahmoud Ahmadinejad says Iran places no limit on the expansion of ties with Pakistan, expressing full support for its eastern neighbor.

“Iran has no limits on the expansion of ties with Pakistan and the relations between the two countries must be expanded in the economic, scientific, energy, business and medical sectors,” President Ahmadinejad told Pakistan’s Minister of Welfare, Population and Women’s Rights Firdous Ashiq Awan on Tuesday.

President Ahmadinejad also promised Iran’s full support for Pakistan.

The Pakistani official, for her part, welcomed Iran’s support for the county in the aftermath of the recent floods and said Islamabad was determined to consolidate bilateral relations with Tehran.

She said that Iran set an example for all Muslim countries including Pakistan.

The minister also voiced her country’s support for Iran’s right to peaceful nuclear technology.

‎’Iran wants closer ties with Pakistan’‎

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JNN 16 Nov 2010 – Iranian President Mahmoud Ahmadinejad says Iran places no limit on the expansion of ties with Pakistan, expressing full support for its eastern neighbor.

“Iran has no limits on the expansion of ties with Pakistan and the relations between the two countries must be expanded in the economic, scientific, energy, business and medical sectors,” President Ahmadinejad told Pakistan’s Minister of Welfare, Population and Women’s Rights Firdous Ashiq Awan on Tuesday.

President Ahmadinejad also promised Iran’s full support for Pakistan.

The Pakistani official, for her part, welcomed Iran’s support for the county in the aftermath of the recent floods and said Islamabad was determined to consolidate bilateral relations with Tehran.

She said that Iran set an example for all Muslim countries including Pakistan.

The minister also voiced her country’s support for Iran’s right to peaceful nuclear technology.

Iran defends nuclear rights in Bucharest

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JNN 16 Nov 2010 Iranian Deputy Foreign Minister Ali Ahani says Iran will defend its right to use peaceful nuclear technology against politically-motivated allegations by the West.

“As a responsible member of the international community Iran will transparently defend its inalienable right to use peaceful nuclear technology,” Ahani said in a meeting with Hungarian Foreign Minister Janos Martonyi in Budapest.

Ahani criticized the US-engineered UN Security Council sanctions against Iran and the European Union’s extra-regional measures which are pressuring Iranian expatriates and students by restricting financial transactions or by refusing to refuel Iranian passenger planes.

The Hungarian foreign minister, for his part, praised Iran’s rich civilization and expressed his country’s desire to expand bilateral relations with the Islamic Republic.

“Hungary totally confirms Iran’s complete right to peaceful nuclear know-how, and at the same time more transparency through negotiations and dialogue,” IRNA quoted Martonyi as saying on Tuesday.

Hungary believes that negotiation is the only solution to end the disputes, the Hungarian top diplomat continued.

The United States and its allies accuse Iran of pursuing a covert military nuclear program — an allegation refuted by the Islamic Republic.

Tehran says as a signatory to the Nuclear Non-Proliferation Treaty it is entitled to use peaceful nuclear technology as all its nuclear activities have been under the full supervision of the International Atomic Energy Agency.

Dutch anti-Islam party hit by scandal

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JNN A member of the anti-Islamic Dutch Freedom Party with a past conviction for sexual offences is posing problems for party leader Geert Wilders.

Parliament member Eric Lucassen has been embroiled in a controversy after it was revealed on Thursday that he had been found guilty of sexual misconduct in 2002.

The former army instructor served one week in military detention in the same year for having sex with a female army recruit while he was a sergeant, TV station RTL4 reported last week.

The lawmaker has also been accused of threatening and intimidating his neighbors between 2006 and 2009.

Wilders had earlier stated that he felt ‘unfairly treated’ by Lucassen, but stopped short of expelling him from the party.

The MP’s ouster from the Freedom Party group in the Lower House would have created a crisis for the one-seat majority supporting the current right-wing government.

Theoretically, that could lead to the fall of the cabinet barely a month after the new government came into office.

The recent crisis has raised serious questions over the screening of political candidates before elections.

Wilders, however, argues that his party lacks the means to hire expensive bureaus to screen candidates.

“It’s not the first time things like these have happened,” Wilders went on to say.

The party leader was hinting at a 2009 incident in which another Freedom Party MP, Hero Brinkman, assaulted a barman in the parliament’s press cafe.

Also in 2002, Dion Graus, Freedom Party MP and animal rights campaigner, was accused of physically abusing his pregnant wife.

Wilders made headlines worldwide in March 2008 after making the anti-Islam film, Fitna. The movie prompted angry protests across the world.

UN Secretary General Ban Ki-moon described Wilders’ movie as “offensively anti-Islamic”. The European Parliament also banned the screening of the film, saying it provoked hatred.

Iran foreign minister to visit Pakistan with His Interior Minsiter who will see the flood relief efforts Done by Irani Govt.

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JNN : Iranian Foreign Minister Manouchehr Mottaki is set to travel to Pakistan next week to attend a summit aimed at fighting illegal drug trafficking.

Deputy Foreign Minister Mehdi Mohammdifard said Iran’s Interior Minister Mostafa Mohammad-Najjar would accompany the foreign minister on his trip.

The interior minister will be visiting the headquarters of Iranian relief mission in the flood-stricken regions of Pakistan.

Iran was among the first countries to dispatch relief supplies to Pakistan and has announced its readiness to help reconstruct the country’s flood-ravaged regions.

More than 150 Iranian rescue workers have helped Pakistan’s flood victims and nearly 100,000 flood-stricken Pakistanis have been sheltered in 14,000 tents.

Iran’s last relief convoy to Pakistan consisted of 2,700 tons of goods carried by 150 trucks.

Nearly 14 million Pakistanis are still in need of urgent humanitarian aid months after devastating floods hit the country, killing over 1,700.

More than seven million people are without shelter in Pakistan as water-borne diseases and nutrition are still a grave concern for the victims of the country’s July-August flooding.

Israeli official, Dubai police chief meet

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JNN : The head of the Israeli police investigations and Dubai police chief Dahi Khalfan have reportedly met after the latter accused Israel of killing a top Hamas commander

Major General Yoav Segalovich met the Dubai police chief in the annual Interpol General Assembly in Qatar last week, Israeli website Ynetnews reported on Monday.

“They were introduced, they shook hands and greeted one another,” an unnamed Israeli police source told Ynetnews.

The source added that there was no apparent tension between the two sides.

In September, Khalfan said he had received death threats from Israel’s spy agency Mossad for uncovering details of the assassination of Hamas commander Mahmoud al-Mabhouh in a Dubai hotel in January.

Khalfan said he had received an email, which read, “Protect your back if you are going to keep your tongue loose.”

The Dubai police chief had also referred to a cautionary phone call “from a retired Mossad agent with Western-Israeli nationality” to one of his relatives, saying, “He asked my relative to advise me to keep silent.”

AI slams EU over terror suspects abuse

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JNN : Amnesty International has criticized the European Union for failing to blame EU governments for the “abuses” committed against CIA’s terrorism suspects.

The call comes as the organization released a report titled “Open Secret: Mounting Evidence of Europe’s Complicity In Rendition And Secret Detention,” ahead of EU-US talks in Portugal on November 20.

The report gathered information and evidence of the involvement of European countries in covert CIA programs such as kidnapping, illegal detention, secret flights and torture under the pretext of fighting terrorism.

It also uncovered the deep role of officials from Germany, Italy, Lithuania, Macedonia, Poland, Romania, Sweden, and Britain in the torture of terror suspects.

“The EU has utterly failed to hold member states accountable for the abuses they’ve committed,” said the director of Amnesty International’s European institutions office, Nicholas Berger.

“These abuses occurred on European soil. We simply can’t allow Europe to join the US in becoming an ‘accountability-free’ zone. The tide is slowly turning with some countries starting investigations, but much more needs to be done.”

Reactions from the European government, however, were quite poor, the report said.

“As more information trickles out, it will be harder and harder for the United States government to continue to stonewall when it comes to accountability,” Amnesty researcher Julia Hall told reporters on Monday.

“So the processes that are happening in Europe, we do have hopes that they will have some kind of an impact across the Atlantic in the United States,” she added.

Target Killing Continues in Karachi , Another Momin Target Killed

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JNN Karachi  : Today Around Midnight the Blood Thirsty  Wolves in the city again striked  in the North Karachi Sector 11 A , and Shot Dead Syed Shadab Hussain Rizvi s/o Late Raza Rizvi ( Well Renowned Sahib e Biyaz ) , And Sahib e Bayaz of Dasta e Nasiraan e Hussain .

It is being told by our corrospondent that at the time of Incident , the suspected  White Colour Alto , with four suspects , in it was roaming in the streets of the Area of North Karachi 11 A,who were armed & dangerous , and it was not intercepted by any law enforcement agency , who were present in the area at the late hours . As soon as Shadab Hussain Rizvi came out of his house around Midnight , A Young man came out of the White Alto and fired Multiple bullets ,fatal  injuring Shadab Hussain , who was then shifted to the Hospital ,where he was Pronounced Dead on Arrival.

His Namaz e Janaza was Performed at Babul ilm Imam Bargah, North Nazimabad, and funeral was taken to his last resting Place at Mohamadi Shah Graveyard, North Karachi , where he was burried , in the presence of Hundred of Mourners , who came to give there last respect to the Shaheed . Shaheed Shadab was the Only child of his Father Late Razi Rizvi, and has left a widow and two very young children, One Son of 2 1/2 years and a daughter an year old .

It is a very alarming situation at the time , when Eid ul Azha is just a few days away , and then Muharram the first Month of the Islamic Year , which starts with the Mourning of Events of Karbala, and the Momineen & Mominat are gathering in large crowds in all parts of the country . While when the Momineen are target Killed , and the Government have failed to give protection to the Shia Community against the Target Killings and Bombing in events like Ashura , and Arabaeen in Karachi, and Youm e Ali , 21st Ramzan in Lahore , and Al Quds Rally in Quetta , then the Momineen should take Precautionary measures , and should organize them selves in a manner to protect themsleves and all the other Momineen and Mominat , from these attack on the shia community.