Failure of BankUnited shows troubles still persist
Failure of BankUnited shows troubles persist
Damian Paletta and Joe Bel Bruno | May 22, 2009
FEDERAL regulators seized today Florida’s BankUnited FSB, the biggest bank failure in the US this year and one the Federal Deposit Insurance Corporation estimated will cost its weakened insurance fund $US4.9 billion ($6.3 billion).
BankUnited, whose holding company is BankUnited Financial Corporation, is the second-costliest bank failure of the financial crisis, trumped only by IndyMac, which failed in July at an estimated cost to the FDIC of about $US11 billion. BankUnited’s failure underscores how hard it is for weak banks to survive after years of bad bets on real estate.
The FDIC sold the company’s banking operations to a private-equity team headed by John Kanas, the former head of North Fork Bank. The bank’s 85 branches will reopen during normal business hours under the same name. BankUnited had $US12.8 billion of assets and $US8.6 billion in deposits, and regulators said it was critically undercapitalised.
Nuns arrive at eco-convent and leave behind high-carbon habit
Nuns arrive at eco-convent and leave behind high-carbon habit
Move sees convent swap fuel-hungry abbey for new home with solar panels, grass-covered roof and reedbed sewage system
- guardian.co.uk, Thursday 21 May 2009 16.48 BST
- Article history
A nun arrives at her new nunnery near Helmsley, North York Moors. Photograph: John Giles/PA
It is not often that the Benedictine nuns of the Conventus of Our Lady of Consolation leave their monastery. It is even rarer for them to move monasteries entirely.
But today, the nuns left their Worcestershire home of 171 years to take possession of their new residence in the North York Moors national park – a new building that they insisted must remain as environmentally-friendly as possible as they lead their quiet life of prayer.
Govt blocking witnesses from carbon trade inquiry: Joyce
Govt blocking witnesses from carbon trade inquiry: Joyce
Bias claim: Nationals Senator Barnaby Joyce (AAP: Alan Porritt, file photo)
Nationals Senator Barnaby Joyce has accused the Federal Government of trying to shut down criticism of its proposed emissions trading scheme.
He says the Government has blocked several of the Opposition’s unfavourable witnesses from appearing before today’s Senate inquiry into the scheme.
Senator Joyce says the Government is trying to make sure the inquiry favours its Carbon Pollution Reduction Scheme.
SLOUCHING TOWARD GOLGOTHA
SLOUCHING TOWARD GOLGOTHA
By Peter Montague
Most of my friends want to deny it, but the evidence is compelling: the U.S. and Europe are aggressively advancing the only real plan they’ve ever had for “solving” the global warming problem. Their plan — their only published plan — is to capture carbon dioxide (CO2) gas, compress it into a liquid, and pump it a mile below ground, hoping it will stay there forever. It will be the largest hazardous waste disposal program ever undertaken. Sometimes the plan is called CCS (short for “carbon capture and sequestration”) but mostly it’s known by its gimmicky PR name “clean coal.”
On paper, the plan seems simple enough: Bury trillions of tons of hazardous CO2 in the ground. They tell us it will work even though its never been tested. But what if they’re wrong? What if it leaks? If that happens, they’ve got no Plan B. Sorry, kids, we used up your world.
The U.S. and Europe have painted the whole planet into a corner: by denying or ignoring global warming science for more than 20 years and refusing to take precautionary action, political “leaders” have allowed the problem to grow so large that it now threatens the future of civilization.
Industries are Grappling With New Bill on Climate
Industries are Grappling With New Bill on Climate
By JOSEPH B. WHITE
WASHINGTON — The “American Clean Energy and Security Act” is one of the most ambitious efforts to re-engineer American social and economic behavior in decades, presenting risks and opportunities for a wide array of businesses from Silicon Valley to the coal fields of the Appalachians.
The legislation, better known as the Waxman-Markey bill, isn’t yet law and has big hurdles to clear. A critical vote looms this week in the House Energy and Commerce Committee. But even with its chances of passage uncertain, the measure has become the basis for debate in Washington over how the U.S. should respond to pressure to slash its carbon emissions.
Taiwan’s solar stadium 100% powered by the sun
Taiwan’s solar stadium 100% powered by the sun
Taiwan recently finished construction on a solar-powered stadium that will officially open later this year to welcome the 2009 World Games. From Inhabitat, part of the Guardian Environment Network
- guardian.co.uk, Wednesday 20 May 2009 13.11 BST
- Article history
Toyo Ito’s design has a 14,155 sq metre solar roof that is able to provide enough energy to power the stadium’s 3,300 lights and two jumbo vision screens. Photograph: Inhabitat.com
Taiwan recently finished construction on an incredible solar-powered stadium that will generate 100% of its electricity from photovoltaic technology! Designed by Toyo Ito, the dragon-shaped 50,000 seat arena is clad in 8,844 solar panels that illuminate the track and field with 3,300 lux. The project will officially open later this year to welcome the 2009 World Games.