Martha Raddatz, Hot Off Debate Performance, Promoted at ABC News






NEW YORK (TheWrap.com) – Martha Raddatz, widely praised for her moderation of the vice presidential debate in October, has been given an expanded role as ABC News’ chief global affairs correspondent. Jonathan Karl, meanwhile, will become the network’s new chief White House correspondent, filling the void left by Jake Tapper‘s exit to CNN.


Raddatz will replace Tapper as the primary substitute for George Stephanopoulos on “This Week” and will contribute regularly to the Sunday morning show’s roundtable. Karl will also serve as a substitute and regularly appear on the roundtable.






Tapper departed ABC in part because he has long been interested in hosting “This Week” full-time, but Stephanopoulos has no plans to give up the hosting job, a person familiar with the situation told TheWrap.


ABC News President Ben Sherwood announced the new assignments for Raddatz and Karl on Thursday, soon after CNN announced Tapper’s hiring.


Karl has investigated wasteful federal spending, covered elections, and served as the network’s senior national security correspondent.


Raddatz has reported from the Pentagon, the State Department, the White House, and from conflict zones worldwide, including Afghanistan and Iraq.


But she has been perhaps most celebrated for keeping the vice presidential debate between Joe Biden and Paul Ryan on course after the moderator of the first presidential debate, Jim Lehrer, was accused of letting the candidates run amok.


TV News Headlines – Yahoo! News





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Call for tougher banking reforms







Government plans to ring-fence the banks – trying to protect retail banking from the riskier investment side – “fall well short of what is required”, a report has warned.






The Parliamentary Commission on Banking Standards wants the government to “electrify” the fence so banks cannot make holes in it.


The government’s bank reforms will go before Parliament early next year.


The Treasury said it was committed to reforming the banking sector.


Vickers recommendations


The Parliamentary Commission on Banking Standards, known as the Banking Commission for short, was asked by Chancellor George Osborne to study the draft version of the government’s Financial Services (Banking Reform) Bill.


This follows last year’s recommendation by the Independent Commission on Banking, which was led by Sir John Vickers.


Sir John concluded that ring-fencing was the best way to protect “core” retail banking activities from any future investment banking losses, such as were seen during the global financial crisis.


The government’s proposed bill also spells out rules to protect depositors and prevent the use of taxpayer money for bailouts, thereby curtailing banks’ perception they are “too big to fail”.


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The bill hinges on three main aspects:


  • ring-fencing or protecting retail banking

  • ensuring that bank losses fall on bank creditors and not depositors or taxpayers

  • making banks better able to absorb losses

Ring-fencing would ensure that retail services of a struggling lender can be carried on independently and smoothly even if authorities let the rest of the group fail.


For example, in the case of a failing banking group, regulators could sell off its core activities – thereby maintaining continuity for depositors – while allowing the rest of the organisation to go through a bankruptcy process.


Secondly, the proposed bill wants to rank retail deposits (but not pension liabilities) ahead of the claims of other bank creditors in the event of a bank insolvency.


Thirdly, banks are to hold a sufficient capital buffer – as outlined by global regulators – which means that if banks do fail, losses can be absorbed by shareholders and other creditors rather than the taxpayer.


“Electrification”


Under the draft legislation, the Treasury would have the authority to decide which banks ring-fencing should apply to, as well as specific activities to be undertaken, within ring-fenced banks.


The Prudential Regulation Authority, which will become the UK’s regulator for deposit-taking institutions in April under the Bank of England, would have the power to ensure the ring-fenced bank to carry on with its business.


But there has been much debate over whether to enforce a full separation between retail and investment activities – that is, a break-up. The recommendation by Sir John stopped short of such action.


Andrew Tyrie, chairman of the Banking Commission, said that the “electrification” of the ring fence should include the regulator being able to force the full separation of a bank’s retail and investment divisions, if the lender was found to be trying to break the fence.


“The proposals as they stand [in the Bill], fall well short of what is required,” he said.


“Over time, the ring-fence will be tested and challenged by the banks. Politicians too could succumb to lobbying from banks and others, adding to pressure to put holes in the ring-fence.”


Continue reading the main story
  • The Parliamentary Commission on Banking Standards was appointed in July following the Libor scandal and other episodes that damaged the reputation of banks in the UK

  • It includes MPs and peers and is chaired by Andrew Tyrie, who also heads the House of Commons’ Treasury Committee

  • Members include the next Archbishop of Canterbury, Justin Welby

  • It heard evidence from major figures in the banking sector

  • Evidence included a warning from RBS boss Stephen Hester that ring-fencing banks’ retail and investment arms could increase the risk of institutions needing to be rescued

  • But Barclays chief executive Antony Jenkins told the commission that his bank was “embracing” the ring-fencing proposal

  • The commission has also heard from Paul Volcker, a former chairman of the US Federal Reserve, about his US proposals to ensure bank safety


He added: “For the ring-fence to succeed, banks need to be discouraged from gaming the rules. All history tells us they will do this unless incentivised not to.”


“That is why we recommend electrification. The legislation needs to set out a reserve power for separation – the regulator needs to know he can use it.”


Anthony Browne, the chief executive of the British Bankers’ Association (BBA), welcomed the report, but warned that uncertainty over banks’ prospects could have a negative impact on their ability to lend.


“The risk here is creating uncertainty. If it’s perpetually hanging over the banking sector that individual banks or the whole sector could be broken up at some point, then it’s going to be difficult to return to having an investable banking sector that can be customer-focused and globally competitive and do what it should be doing, which is lending to homeowners and businesses,” he said.


Ed Balls, Labour’s shadow chancellor said: “As Ed Miliband and I said at the Labour conference this year, if the letter and spirit of the Vickers proposals are not delivered and we do not see cultural change in our banks, full separation will be necessary.


“The Commission is clearly right to say the jury is still out and to demand a reserve power for full separation of the banks.”


‘Consensus commitment’



The Commission’s report comes a month after Mr Osborne urged its members not to send the government’s proposed reform “back to square one” by “unpicking” the consensus on how it should be carried out.


A Treasury spokesman said on Thursday evening: “The government is committed to reforming the financial sector and putting in place a regulatory structure that learns the lessons of the past and protects taxpayers in the future.”


“It has been committed to building consensus and has consulted widely on these reforms over the last two and half years. The Banking Reform Bill is the next step in that.


“The government is grateful to the Parliamentary Commission on Banking Standards for its scrutiny of the draft bill and notes that it, ‘welcomes the government’s action to bring forward legislation to implement a ring-fence’.”


The spokesman added that the government would study the report and respond in detail when the Financial Services (Banking Reform) Bill is formally introduced to Parliament early next year.


BBC News – Business





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State Department security chief leaves post over Benghazi






WASHINGTON (Reuters) – The U.S. State Department said on Wednesday its security chief had resigned from his post and three other officials had been relieved of their duties following a scathing official inquiry into the September 11 attack on the U.S. mission in Benghazi.


Eric Boswell has resigned effective immediately as assistant secretary of state for diplomatic security, State Department spokeswoman Victoria Nuland said in a terse statement. A second official, speaking on condition of anonymity, said Boswell had not left the department entirely and remained a career official.






Nuland said that Boswell, and the three other officials, had all been put on administrative leave “pending further action.”


An official panel that investigated the incident concluded that the Benghazi mission was completely unprepared to deal with the attack, which killed U.S. Ambassador Christopher Stevens and three other Americans.


The unclassified version of the report, which was released on Tuesday, cited “leadership and management” deficiencies, poor coordination among officials and “real confusion” in Washington and in the field over who had the authority to make decisions on policy and security concerns.


“The ARB identified the performance of four officials, three in the Bureau of the Diplomatic Security and one in the Bureau of (Near Eastern) Affairs,” Nuland said in her statement, referring to the panel known as an Accountability Review Board.


Secretary of State Hillary Clinton accepted Boswell’s decision to resign effective immediately, the spokeswoman said.


Earlier, a U.S. official who spoke on condition of anonymity said Boswell, one of his deputies, Charlene Lamb, and a third unnamed official has been asked to resign. The Associated Press first reported that three officials had resigned.


PANEL STOPS SHORT OF BLAMING CLINTON


The Benghazi incident appeared likely to tarnish Clinton’s four-year tenure as secretary of state but the report did not fault her specifically and the officials who led the review stopped short of blaming her.


“We did conclude that certain State Department bureau-level senior officials in critical positions of authority and responsibility in Washington demonstrated a lack of leadership and management ability appropriate for senior ranks,” retired Admiral Michael Mullen, one of the leaders of the inquiry, told reporters on Wednesday.


The panel’s chair, retired Ambassador Thomas Pickering, said it had determined that responsibility for security shortcomings in Benghazi belonged at levels lower than Clinton’s office.


“We fixed (responsibility) at the assistant secretary level, which is, in our view, the appropriate place to look for where the decision-making in fact takes place, where – if you like – the rubber hits the road,” Pickering said after closed-door meetings with congressional committees.


The panel’s report and the comments by its two lead authors suggested that Clinton, who accepted responsibility for the incident in a television interview about a month after the Benghazi attack, would not be held personally culpable.


Pickering and Mullen spoke to the media after briefing members of the House of Representatives Foreign Affairs Committee and Senate Foreign Relations Committee behind closed doors on classified elements of their report.


Clinton had been expected to appear at an open hearing on Benghazi on Thursday, but is recuperating after suffering a concussion, dehydration and a stomach bug last week. She will instead be represented by her two top deputies.


Clinton, who intends to step down in January, said in a letter accompanying the review that she would adopt all of its recommendations, which include stepping up security staffing and requesting more money to fortify U.S. facilities.


The National Defense Authorization Act for 2013, which is expected to go to Congress for final approval this week, includes a measure directing the Pentagon to increase the Marine Corps presence at diplomatic facilities by up to 1,000 Marines.


Some Capitol Hill Republicans who had criticized the Obama administration’s handling of the Benghazi attacks said they were impressed by the report.


“It was very thorough,” said Senator Johnny Isakson. Senator John Barrasso said: “It was very, very critical of major failures at the State Department at very high levels.” Both spoke after the closed-door briefing.


Others, however, took a harsher line and called for Clinton to testify as soon as she is able.


“The report makes clear the massive failure of the State Department at all levels, including senior leadership, to take action to protect our government employees abroad,” Representative Mike Rogers, the Republican chairman of the House Intelligence Committee, said in a statement.


Senator Bob Corker, who will be the top Republican on the Senate Foreign Relations Committee when the new Congress is seated early next year, said Clinton should testify about Benghazi before her replacement is confirmed by the Senate.


Republicans have focused much of their firepower on U.S. Ambassador to the United Nations Susan Rice, who appeared on TV talk shows after the attack and suggested it was the result of a spontaneous protest rather than a premeditated attack.


The report concluded that there was no such protest.


Rice, widely seen as President Barack Obama’s top pick to succeed Clinton, withdrew her name from consideration last week.


(Additional reporting by Tabassum Zakaria and Susan Cornwell; Editing by Christopher Wilson)


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Nexus 4 ad touts Photo Sphere as the go-to app for avoiding holiday family photo headaches [video]









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NJ Health Department Apologizes After Privacy Breach In Email To Medical Marijuana Patients









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Why “Les Misérables” Looks Like a Holiday Box-Office Smash






LOS ANGELES (TheWrap.com) – Moviegoers are storming online ticketing sites in advance of the Christmas release of “Les Misérables,” and the big-screen adaptation of the Broadway musical has all the makings of a holiday smash.


With a cast that includes Anne Hathaway and Hugh Jackman, expectations are enormous, but based on advance tracking, so is the box-office potential.






The film, made for a reported $ 61 million, is poised to gross as much as $ 26 million over its opening weekend, according to BoxOffice.com.


The site predicts that the movie should pick up multiple Oscar nominations and that awards attention combined with a rabid fan base of musical theater lovers will have it beguiling moviegoers well into the new year.


Ultimately, it estimates that “Les Misérables” will rack up as much as $ 136 million at the domestic box office.


It’s well on its way. Early ticket sales at Fandango indicate that “Les Misérables” has the potential to be this holiday’s breakout smash, despite stiff competition from the likes of Tom Cruise’s “Jack Reacher” and Quentin Tarantino’s “Django Unchained,” both of which open over the next seven days.


Fandango also reports that the film has smashed records to become the company’s top advance-ticket seller among all Christmas Day releases, surpassing its previous record-holder, 2009′s “Sherlock Holmes”


It is also the largest advance-ticket seller among movie musicals in its history, supplanting 2006′s “Dreamgirls.” By mid-day Wednesday, “Les Misérables” was outpacing all other films, even current releases like “The Hobbit: An Unexpected Journey,” and was responsible for 40 percent of ticket sales at Fandango.


“There’s such a history and good will surrounding the stage musical and this is a film version people have been anticipating for such a long time, that it has turned into the movie event of the holiday season,” Dave Karger, Fandango’s chief correspondent, told TheWrap.


“We’re bullish on it,” added Phil Contrino, editor of BoxOffice.com. “Based on all the early reviews, this sounds like a crowd-pleaser. When a musical hits, it becomes a beast at the box office.”


He noted that “Mamma Mia!,” which arrived with less awards pedigree and was derived from a more dimly known stage show, grossed $ 609.8 million globally, because audiences loved the music.


Movietickets.com did not release any pre-sales information for holiday releases. However, recent surveys it performed of more than 4,000 customers indicate that there is a great deal of enthusiasm for the musical.


Of the major holiday releases, 52 percent of those polled said they were most excited to see “Les Misérables.” That was followed by 24 percent for “Django Unchained,” 16.5 percent for “Jack Reacher” and 7.5 percent for “The Guilt Trip.”


To be sure, not all of the “Les Misérables” reviews have been kind. In TheWrap, Alonso Duralde faulted the wobbly vocal talents of the leads and the director’s penchant for close-ups of his emoting stars.


“Director Tom Hooper (‘The King’s Speech’) piles one terrible decision upon another, with the result being a movie so overbearingly maudlin and distorted that it’s one of 2012′s most excruciating film experiences,” Duralde wrote.


Yet, audiences at screenings have been nearly rapturous in their response. Fandango’s Karger notes that at a recent screening for members of the Academy of Motion Picture Arts and Sciences that he attended, the crowd broke into applause at four different points during the film and gave Jackman and Hooper lusty ovations.


Given that “Les Misérables” tackles such topics as revolution, poverty and prostitution it seems like dark fare for the season, but Karger argues that the film provides enough uplift to appeal to moviegoers looking to get into the yuletide spirit.


“There are scenes of such intense suffering and despair in the movie, but at the end you are left with a profound feeling of love and that gives it a holiday feel,” Karger said. “It’s a slog through the mud to get there, but when the movie’s over you leave the theater with a wonderful sense of hope.”


If Karger is right then Universal, which is distributing “Les Misérables,” will be feeling very festive when Christmas rolls around next week.


Movies News Headlines – Yahoo! News





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UK retail sales flat in November







UK retail sales failed to grow in November, adding to fears that consumers are reining in spending ahead of Christmas.






Sales volumes were flat in November compared with October, the Office for National Statistics (ONS) said.


They had been expected to bounce back after October’s shock 0.8% fall.


The one bright spot was in household goods stores, where sales rose by 3.8% on the month, including consumer electrical items.


However this failed to offset a 0.1% drop in both food sales and sales of clothes and shoes.


Year-on-year, sales volumes rose by 0.9%.


‘Last-minute rush’


By value, sales fell 0.1% on the month but increased 1.5% on the year.


Consumer spending accounts for about two-thirds of gross domestic product (GDP) in the UK.


The ONS figures increase the chance that the UK economy will contract in the last three months of 2012, something the Bank of England has already said is likely.


This year has seen a number of casualties on the High Street, the latest being electrical retailer Comet, whose last stores closed this week.


British Retail Consortium director-general Helen Dickinson, said that the coming weekend would be crucial for retailers.


“With Christmas falling on a Tuesday this year, this weekend will be the critical one – I’m expecting a last-minute rush but overall in sales terms it will be neither a bumper Christmas nor a disaster.”


BBC News – Business





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Canada serial killer inquiry finds “systemic bias” by police






(Reuters) – Police made critical errors in pursuing Canadian serial killer Robert Pickton partly because of “systemic bias” against his victims, sex trade workers from a rough Vancouver neighborhood, according to the final report from a public inquiry released on Monday.


Commissioner Wally Oppal was asked by the British Columbia government to investigate, in effect, why Pickton was not caught sooner. Women disappeared from the Downtown Eastside neighborhood for more than a decade before the pig farmer’s 2002 arrest.






“The investigations of missing and murdered women were characterized by blatant police failures, and by public indifference,” Oppal said at a press conference in Vancouver that was frequently interrupted by protesters.


Pickton was convicted of six murders, but prosecutors believe he killed many more – 20 other charges were stayed after he received the maximum possible sentence.


Oppal outlined a string of police errors, from failing to take proper reports when women went missing and communicate adequately with families, to ineffective coordination across jurisdictions. He called his more than 1,200-page report, which is based on eight months of hearings, “Forsaken”.


“After reviewing the evidence of the investigations, I have come to the conclusion that there was systemic bias by the police,” he said.


Oppal recommended that the provincial government establish a compensation fund for the children of the victims and consider creating a regional police force for Vancouver, instead of the patchwork of jurisdictions currently in place.


After Oppal’s announcement, B.C. Minister of Justice Shirley Bond wiped away tears as she spoke to victims’ families.


“I want you to know that, however inadequate these words sound, we are sorry for your loss,” she said. “We will work hard to prevent these circumstances from being repeated in our province.”


She announced the appointment of a former lieutenant governor, Steven Point, to serve as the report’s “champion”, guiding implementation. Bond said the government would immediately give new funding to WISH, a drop-in center for women who work in the Downtown Eastside’s sex trade.


POLICE RESPOND


The Vancouver Police Department said in a short statement that it is committed to learning from its mistakes and will study the report.


“We know that nothing can ever truly heal the wounds of grief and loss but if we can, we want to assure the families that the Vancouver Police Department deeply regrets anything we did that may have delayed the eventual solving of these murders,” it said.


Deputy Commissioner Craig Callens, who commands the Royal Canadian Mounted Police in British Columbia, said in a statement that his force will review the report.


Oppal said many individual police officers were diligent, and he commended several by name. But he said that as a system, the authorities failed because of bias against Pickton’s victims, many of whom were poor and addicted to drugs.


“Would the reaction of the police and the public have been any different if the missing women had come from Vancouver’s (more affluent) west side? The answer is obvious,” he said.


Aboriginal women were overrepresented among the victims, and Oppal repeatedly referred to the broader “marginalization” of aboriginal people in Canada.


“There has to be community responsibility for what has taken place,” he said, highlighting poverty and the conditions on the Downtown Eastside. “The social reality is that racism and gender bias are prevalent within Canadian society, and we must do something to eradicate those.”


Victims’ families and activists were on hand for Oppal’s press conference, and he stopped speaking several times as audience members shouted criticism, chanted and played drums.


The provincial government did not offer funding to a number of community organizations that said they needed support to participate in the lengthy and complex inquiry. In protest, other groups boycotted the process.


In November, several organizations, including the B.C. Civil Liberties Association, released their own report, criticizing the inquiry for, among other things, excluding too many aboriginal women, sex trade workers and drug users.


Bond, the justice minister, said she did not regret the decision not to fund those groups, but said she saw them participating in the future. “I think going forward this is room for us to include other voices.” (Reporting by Allison Martell; Editing by Eric Beech)


Canada News Headlines – Yahoo! News





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What If Nothing or Nobody is to Blame for Lanza? Guns, Video Games, Autism or Authorities






What if there is nobody or nothing to blame for Adam Lanza‘s heinous acts? Other than Lanza, of course.


What if school security and the school psychiatrist kept an eye on Lanza since his freshman year? The Wall Street Journal has a compelling narrative about the red flags addressed.






What if he had a form of autism that has little or no link to violent behavior? Lanza may have had Asperger’s syndrome but, even so, that is not a cause.


What if it’s too simple to lay the massacre at the feet of the gun lobby? Reader Larry Kelly tweets that shaming Aspies “makes about as much sense at stigmatizing the NRA. Pick an enemy … any enemy. Let outrage and fear rule.”


What if Lanza wasn’t provoked by video games? David Axelrod, a close friend an adviser of President Obama, tweeted last night: “In NFL post-game: an ad for shoot ‘em up video game. All for curbing weapons of war. But shouldn’t we also quit marketing murder as a game.”


When I asked whether he was laying groundwork for a White House initiative, Axelrod said no: “Just one man’s observation.” A senior administration official, speaking on condition of anonytmmity, said today that Axelrod was not a stalking horse for Obama on this issue.


What if Lanza’s mother did everything she could, short of keeping her guns out her adult son’s reach? What if he wasn’t bullied?


What if there is nobody or nothing to blame? Would that make this inexplicable horror unbearable?


What if we didn’t rush to judgement? What if we didn’t waste our thoughts, prayers and actions on assigning blame for the sake of mere recrimination? What if we calmly and ruthlessly learned whatever lessons we can from the massacre — and prevented the next one?


A parting thought: What if it wasn’t one thing, but everything, that set off Lanza?


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At least 18 Somalis die when boat capsizes off Puntland






BOSASO, Somalia (Reuters) – At least 18 Somalis drowned when their boat sank and their bodies washed ashore near the port city of Bosaso in Somalia‘s northern breakaway region of Puntland, a government official said on Tuesday.


The Puntland official said authorities believed a boat carrying illegal Somali migrants had capsized, and that it was likely that the death toll could rise.






African migrants often use unseaworthy boats to try to reach Yemen, seen as a gateway to wealthier parts of the Middle East and the West. Hundreds of the migrants have perished at sea.


“Today we found 18 dead bodies of Somalis on a beach 17 km away from Bosaso,” Seinab Ugas Yasin, the assistant health minister in the semi-autonomous region told Reuters.


“The dead bodies include those of 10 women, seven men and that of a baby. We also found 5 people alive,” she said.


Yasin gave no further details, but said authorities were looking for more dead people. Residents said the ill-fated boat had been carrying about 80 people from Bosaso.


At least 27 people were believed to have died in April after two boats that had set out from Somalia sank off the coast of Yemen.


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