Loughner found incompetent

Jared Lee Loughner, arrested for a deadly shooting rampage in Tucson Ariz. on Jan. 8, has been ruled incompetent to endure trial. Loughner, after an angry episode, was pulled out of the trial Wednesday by U.S. Marshals.

Tucson shooting hurt 13 individuals and killed another six

Gabrielle Giffords is a U.S. Representative who was having a community meeting outside a supermarket where the shooting spree occurred on Jan 8. Loughner allegedly opened fire, leaving six people dead, including a 9-year-old girl and U.S. District Judge John Roll. Thirteen other people were hurt, including Rep. Giffords (D), who continues to recuperate from her head injuries. Loughner has pleaded not guilty to all of the 49 federal charges he received from the Jan. 8 shootings.

How he acted in pretrial

The 22 year old defendant said “Thank you for the freak show. She died in front of me,” while in the pretrial hearing, although it was unclear. Who he was referring to is unclear. Nobody knows.

Loughner was asked by U.S. District Judge Larry Burns is he wanted to behave in the court room or watch the court from another room on a TV screen to which Loughner said, “I want to watch the TV screen.”

Those who survived the attack there

There were two survivors, maybe more, of the attack that heard the outburst in the court room. Pam Simon was Gifford’s aide who was shot in the right wrist and chest. A bullet hit the back of Army Col. Bill Badger’s head, and he also attended. Loughner was subdued by people after the attack including Badger.

Defendant considered not competent

Judge Burns was asked in March to choose whether or not Loughner would be able to stand trial, which caused the hearing. After Loughner was looked at by a Jail Bureau psychologist and a court-appointed expert, Burns made his decision. Both decided that Loughner was incompetent. ”The defendant was not able to comprehend the charges,” according to Burns.

Four months at federal facility

Until Loughner is considered competent or about four months, Loughner will be in a federal facility. Another hearing will be scheduled later. It will occur September 21. He will be able to stay even longer after the four months are up. This is assuming he is considered incompetent still. It doesn’t matter how long he stays there. His stay could be extended several, many times.

How the defense will use this

It is unclear whether Loughner’s lawyers plan to argue an insanity defense. They have described him as a “gravely mentally ill man” and say that the problem will make a difference to the trial in court filings though.

Citations

Huffington Post

huffingtonpost.com/2011/05/25/jared-loughner-tucson-shooting_n_866723.html

Bloomberg

bloomberg.com/news/2011-05-25/giffords-shooting-suspect-loughner-taken-out-of-courtroom-after-outburst.html

CNN

cnn.com/2011/CRIME/05/25/arizona.loughner.competency/?hpt=T1

How the NBA mock draft 2011 will go

Basketball authorities like ESPN’s Bill Simmons and Chad Ford do not see big things coming out of the 2011 NBA Draft, but some solid picks will be accessible. Here are the top 10 NBA mock draft picks for 2011, in case your team needs help.

Cleveland Cavaliers can be drafting Kyrie Irving, PG (Duke)

Even though Kyrie Irving isn’t amazing, he has great potential. He should be a top-15 point guard eventually. Considering the Cavs still need the kind of leadership Baron Davis’ scraggly beard and oversized ego could not provide, Irving could serve them well.

Minnesota Timberwolves considering Enes Kanter, C (Turkey) as a pick

The Wolves needs to work on building itself up again even though Kevin Love had a fantastic season. If the team is going to keep Love interested, they’ll need a big male to make them respectable. Many look at the 6-foot-11, 272-pound Kanter as a high-energy rebounder and defender that may scare opposing guards while others think it is a gamble.

Chances of Utah Jazz choosing Derrick Williams, SF (Arizona)

Even though Williams was a power forward as a Wildcat, he will most likely be a small forward in the NBA. Utah may simply give up on the rest of the 2011 NBA Draft crop and ask for a popular man. This would be BYU’s Jimmer Fredette.

Cleveland Cavaliers could pick Jonas Valanciunas, Center (Lithuania)

Anderson Varejao may need a large male such as Valanciunas to help him out.

Toronto Raptors: Kemba Walker, PG (Connecticut) chances

Toronto badly needs a new direction at the point guard position, and Kemba Walker brings the speed, athleticism and moxie the rudderless Raptors’ roster needs.

Washington Wizards have the choice of Kawhi Leonard, SF (San Diego State)

A relentless rebounder and explosive athlete, Leonard is the kind of wing player the Wizards need to run with John Wall.

Sacramento Kings: Brandon Knight, Point Guard, Kentucky

Speed, defense and a good outside shot from the point in Knight would allow the Kings to use Beno Udrih as the super backup or 2nd ball-handler the offense needs to really get moving.

Detroit Pistons: Jordan Hamilton, SF (Texas) possibility

The Pistons will soon be losing Tayshaun Prince. That means they need a small forward soon. Hamilton can both shoot and rebound the ball.

Charlotte Bobcats: Fredette, Shooting Guard (Brigham Young University)

In order to make sure there is at least one consistent scorer, Charlotte will hope to get Fredette. Otherwise, Bismack Biyombo from the Congo should amp up the frontcourt athleticism while aggressively challenging shots.

Milwaukee Bucks wants Tristan Thompson, Power Forward (Texas) probably

Thompson is 6-foot-8 and 225 pounds. He is a fairly athletic man too. After the failed Yi Jianlian pick from 2007, the Bucks can be worried about going international. If they can get over it, they may just pick Biyombo.

Information from

Bleacher Report

bit.ly/kuOQ8z

Fox Sports

msn.foxsports.com/nba/story/2011-NBA-draft-lottery-winner-051711

The Sporting News

bit.ly/kYTnGq

2011 NBA Draft Lottery highlight: The final three

youtube.com/watch?v=GqWuPdf8u2o

Senate does not want 401(k) funds used as personal installment loan

The Senate is trying to keep people from using their 401(k) money as a source of personal loans. The new bill that is being put forth would limit how many times an individual can draw from retirement accounts before retirement.

Reason for retirement account

Business Week states that a permanent cap on the number of times an individual can take money out of an IRA fund such as a 401(k) might become reality with a bill the Senate is looking at. The reason why Senators Herb Kohl (D-WI) and Mike Enzi (R-WY) are hoping to create this limit is so that individuals don’t ruin their futures for an immediate need taken out of their 401(k) accounts. Senator Kohl is especially passionate about the bill. He said a retirement account isn’t “a piggy bank” and should not be treated as such. The “SEAL 401(k) Savings Act” is the bill. That is what it was named.

About 28 percent of people borrow from account

Aon Corp did a study and found that by the end of 2010, about 28 percent of people with a retirement account for instance a 401(k) borrowed, on average $7,860, from the account. About 58 percent of people who took personal installment loans out of their retirement funds had at least two large loans also. Defaulting was common among 70 percent of borrowers too. This was only if they borrowed from their retirement. Fidelity Investments, according to USA Today, found that about 22.5 percent of 401(k) those with accounts with Fidelity had a loan balance outstanding at the end of 2010. Between one fifth and one third of individuals had to use their 401(k) accounts or other retirement accounts for an emergency at some point.

Problem with retirement

The prospect of being able to retire one day, and to do so with confidence, is becoming more daunting for several individuals. Since parts of checks have been taken out for Social Security, Medicare and Medicaid, individuals just expect these programs to be there. These programs might not work as well as expected though. Social Security is on track to becoming insolvent, and the Social Security Administration would have to raise $6.5 trillion to become totally solvent again, according to CNN. In the next 25 years, the Social Security Trust Fund will most likely be depleted, and it cannot be fixed with the current Social Security payroll taxes.

Information from

Business Week

businessweek.com/news/2011-05-18/senate-bill-would-limit-use-of-401-k-s-as-rainy-day-funds.html

USA Today

usatoday.com/money/perfi/retirement/2011-05-11-401k-retiement-accounts-up_n.htm

CNN

money.cnn.com/2011/05/18/pf/expert/expert-social-security.moneymag/?section=money_latest

Powers of CFPB may be cut before it launches

The Consumer Financial Protection Bureau is going to launch in July. There are three bills in Congress that would have an effect on the CFPB. None of these bills have become law yet. All three, however, have been approved for House debate.

CFPB status

The Dodd-Frank Act started the Consumer Financial Protection Bureau to “promote fairness and transparency for mortgages, credit cards and other consumer financial products and services.” The bureau is set to open for the first time in July of 2011. There still is not Consumer Financial Protection Bureau director that has been added, despite the deadline. Without a director, the Consumer Financial Protection Bureau will continue to run. It will be under the direction of the Security of Treasury.

Bills to weaken Consumer Financial Protection Bureau introduced

It might not be long before the Consumer Financial Protection Bureau is weakened. Three bills in the U.S. House of Representatives have been introduced that might do this. Instead of a Consumer Financial Protection Bureau director, there would be a five-member commission with HR 1121. This is called the Responsible Consumer Financial Protection Regulations Act of 2011. HR 1315, called the Customer Financial Protection Safety and Soundness Act, would give the Financial Stability Oversight Council of the Department of Treasury the right to overturn any rules made by the CFPB. The agency wouldn’t be able to start without a director if the Bureau of Customer Financial Protection Transfer Clarification Act were to pass, or HR 1667. These three bills have been approved by the Financial Services Committee and will be debated in the House.

What the Consumer Financial Protection Bureau will do

Though the duties and responsibilities of the Consumer Financial Protection Bureau may change, there are several things the Bureau will likely remain responsible for. The Consumer Financial Protection Bureau will be in charge of customer protection. They’ll monitor financial products with this in mind. There are already a lot of federal financial laws. The Consumer Financial Protection Bureau would be in charge of enforcing this. Finally, the Bureau will have a ton of information available. Consumers will be able to access the information.

Information from

Treasury.gov

treasury.gov/initiatives/Pages/FSOC-index.aspx

WalletPop

walletpop.com/2011/05/12/5-things-the-consumer-financial-protection-bureau-will-do-for-yo/

House.gov

house.gov/

Mississippi river crests as worst is finished for Memphis

For the past few several weeks, the Mississippi river has been flooding and battering the American south. The most detrimental of it is over for Memphis, Tenn., as the river has crested near the Music City and floodwaters will only recede from here on. Though Memphis is past the worst of it, several other areas are still in danger of flooding.

Homeless people

Some of Tennessee’s amazing landmarks are just fine, although finished 1,000 people are considered homeless now. BBC states that Music City’s Beale Street district was not hurt by floodwaters at all. The Mississippi has not harmed Graceland, the estate that was the home of Elvis Presley in his later life until his death in 1977. One of the officials of the Shelby County Emergency Management Agency, the county Memphis is located in, was quoted as saying people would be willing to “charge hell with a water pistol” to keep Graceland safe. CBS reports that there have been over 1,300 homes evacuated in fears that the Memphis area could have more flash floods. It will take time for the water to recede back to normal.

Swollen Mississippi crests

After the snowfall near record on the East Coast of the United States, the Mississippi river has gotten very high. There was a 48 feet flood near Memphis though. That is just 10 inches lower than the 1937 record was. Though the worst of the danger is coming to an end in Memphis, there is considerable danger left for the rest of the cities and states along the path of the Mississippi river. Precautions are being taken to make sure that other areas are saved although floodwaters in the Mississippi river system and Mississippi river delta are showing lots of problems already. Pressure on the New Orleans’ levees should be relieved by the Bonnet Carre Spillway, reports MSNBC. The Army Corps of Engineers just opened it up. Floodwaters are already coursing through the delta, but measures are being taken to further prepare the area for the huge volume of water that is heading in that direction.

Not as bad as 1927 floods

The Christian Science Monitor reports that even though the flood levels are bad, they are not as bad as the floods in 1927 killing hundreds and costing millions. Due to the 1927 floods, there were finished 2,000 miles of levees made by the U.S. Army Corps of Engineers. The caveat is that every time a spillway has to be opened to keep flooding from becoming too harmful, other areas are flooded as water is diverted from the bulging Mississippi. As the water gets closer to the Gulf of Mexico and spillways have to open, finished 900,000 acres of farmland in Arkansas is anticipated to flood.

Information from

BBC

bbc.co.uk/news/world-us-canada-13337548

MSNBC

msnbc.msn.com/id/42973616/ns/us_news-environment/

CBS

cbsnews.com/stories/2011/05/09/travel/main20061138.shtml

Christian Science Monitor

csmonitor.com/USA/2011/0509/Mississippi-River-nears-crest-in-Memphis-but-concern-shifts-south