Asta trebuie sa fie inceputul revenirii.De-aia mi-ar fi placut sa fie impotriva lui Nadal…
Nadal era obosit rau de tot, asa ca daca asa a fost sa fie, sa fie Murray!
Joaca de nu se poate Andy, jos palaria!
O sa avem meci frumos, in 5 seturi.
Roger o sa castige! 🙂
Mi-as mai fi dorit sa reziste Nadal inca un set… Era doar „fair” fata de mononucleoza lui Federer…
Mi se pare insa ca a inceput sa treaca peste asta (Federer)… Cu Djokovici a inceput sa joace ca inainte de boala… 🙂
Exista o lege nescrisa in care o parte (chiar infinit de mica) din castigurile tale dupa nume (reclame, endorsements etc) le dai celor care nu sunt asa de norocosi. De obicei iti alegi o caritate si donezi, ceva care sa te lege si sufleteste. Ei bine, dom Chang al nostru nu numai ca n-a donat un cent toata viata lui dar a si comentat ca „banii lui sunt banii lui si c-a muncit din greu pentru ei” Chestie de bun simt, zic io…
Putin blames US for Georgia role
Russian Prime Minister Vladimir Putin
Mr Putin said US citizens were in the area during the conflict
Russian Prime Minister Vladimir Putin has accused the US of provoking the conflict in Georgia, possibly for domestic election purposes.
Mr Putin told CNN US citizens were „in the area” during the conflict over South Ossetia and were „taking direct orders from their leaders”.
He said his defence officials had told him the provocation was to benefit one of the US presidential candidates.
The White House dismissed the allegations as „not rational”.
Georgia tried to retake the Russian-backed separatist region of South Ossetia this month by force after a series of clashes.
Russian forces subsequently launched a counter-attack and the conflict ended with the ejection of Georgian troops from both South Ossetia and another rebel region, Abkhazia, and an EU-brokered ceasefire.
Mr Putin said in the interview: „The fact is that US citizens were indeed in the area in conflict during the hostilities.
„It should be admitted that they would do so only following direct orders from their leaders.”
Those claims first and foremost are patently false, but it also sounds like his defence officials who said they believed this to be true are giving him really bad advice
White House spokeswoman
Meeting Russia’s ‘Number One’
Testing for a new ‘Cold War’
Miliband warns over Russia crisis
Mr Putin added: „The American side in effect armed and trained the Georgian army.
„Why… seek a difficult compromise solution in the peacekeeping process? It is easier to arm one of the sides and provoke it into killing another side. And the job is done.
„The suspicion arises that someone in the United States especially created this conflict with the aim of making the situation more tense and creating a competitive advantage for one of the candidates fighting for the post of US president.”
White House spokeswoman Dana Perino rejected the allegation.
„To suggest that the United States orchestrated this on behalf of a political candidate – it sounds not rational,” she said.
„Those claims first and foremost are patently false, but it also sounds like his defence officials who said they believed this to be true are giving him really bad advice.”
SOUTH OSSETIA & ABKHAZIA
Population: About 70,000 (before recent conflict)
President: Eduard Kokoity
Population: About 250,000 (2003)
President: Sergei Bagapsh
Profile: South Ossetia
Q&A: Conflict in Georgia
Diplomatic wrangling over Russia’s actions in Georgia continued on Thursday with the Georgian parliament urging its government to cut diplomatic ties with Moscow.
Earlier, French Foreign Minister Bernard Kouchner suggested some EU countries were considering sanctions against Russia.
Mr Kouchner insisted France had made no proposals for sanctions itself but, as current president of the EU, would aim to get consensus among all 27 countries of the bloc if sanctions were envisaged.
France has called an emergency EU summit on Monday to reassess relations with Russia.
Russian Foreign Minister Sergei Lavrov described talk of sanctions as the working of „a sick imagination”.
Such talk was an emotional response that demonstrated Western confusion over the situation, he said.
The US has said it is now considering scrapping a US-Russia civilian nuclear co-operation pact in response to the conflict.
The White House has also announced that up to $5.75m (£3.1m) will be freed to help Georgia meet „unexpected and urgent refugee and migration needs”.
Late on Thursday, the UN held an open meeting to discuss the situation in Georgia but it descended into an angry exchange.
Russian ambassador to the UN, Vitaly Churkin, launched a scathing attack on some council members.
Vitaly Churkin. File pic
Russia’s Vitaly Churkin launched an angry attack in the UN
He questioned their criticism of the use of force, asking the US representative: „Did you find any weapons of mass destruction in Iraq?”
He compared council members’ defence of the territorial integrity of states with what he said was a failure to do so for Serbia over Kosovo.
US deputy ambassador Alejandro Wolff said such „specious comparisons cannot detract from the facts before us”.
He said Russia had invaded Georgia and was „dismembering” Georgia.
Irakli Alasania, Georgia’s ambassador to the UN, said Russia’s actions were „all pre-planned”.
He called for swift humanitarian aid and a UN presence in upper Abkhazia.
Requests for representatives of South Ossetia and Abkhazia to participate in the formal council meeting were rejected.
Earlier on Thursday, Russia failed to get strong backing from its Asian allies over the Georgia conflict.
The Shanghai Co-operation Organisation (SCO), comprising Russia, China and Central Asian nations, met in Dushanbe, Tajikistan, and spoke of its deep concern.
The group did not follow Russia in recognising the independence of South Ossetia and Abkhazia.
Russian President Dmitry Medvedev insisted he had the backing of the nations over Moscow’s actions.
CARACAS, Venezuela – Russia’s plan to deploy ships and warplanes to the Caribbean for joint military exercises with Venezuela is allowing President Hugo Chavez to capitalize on tensions between Moscow and the U.S. and showcase a growing military alliance.
Russia announced on Monday that it will send a naval squadron and long-range patrol planes for the exercises later this year — a move that appeared retaliatory after the U.S. sent warships to deliver aid to Georgia following its conflict with Russia.
The deployment is expected to be the largest Russian naval maneuvers in the Caribbean — and perhaps the Western Hemisphere — since the Cold War.
Chavez considers the U.S. a defense threat, and his welcoming of the Russian navy contrasted with his sharp criticism of the recent reactivation of the U.S. Navy’s Fourth Fleet for the Caribbean and Latin America. He ridiculed possible U.S. concerns about the Russian deployment on Sunday, saying: „Go ahead and squeal, Yankees.”
„This is vintage Chavez. He rarely misses an opportunity to needle and provoke Washington,” said Michael Shifter, an analyst at the Washington-based think tank Inter-American Dialogue. „He is taking advantage of the growing chill in U.S.-Russia relations, especially over the situation in Georgia, to poke his finger in (President) Bush’s eye. There is nothing he relishes more.”
Chavez says the U.S. Fourth Fleet — which was dissolved after World War II — poses a threat to the region. U.S. officials say the fleet will help maintain security while performing humanitarian missions and counter-drug operations.
Anna Gilmour, an analyst at Jane’s Intelligence Review, said she believes the exercises will be primarily for the benefit of Venezuela, which has been drawing closer to Russia and buying weapons from Kalashnikov assault rifles to Sukhoi fighter jets. She said the maneuvers also appear to be a response to the relaunch of the U.S. Fourth Fleet.
„By allowing Russian vessels to dock at Venezuelan ports, Chavez is sending the message that the U.S. is not the only major power active in the Caribbean,” Gilmour said.
The U.S. government, however, appeared unconcerned.
U.S. State Department spokesman Sean McCormack poked fun at Russia’s navy, saying if Russia really intends to send ships to the Caribbean, „then they found a few ships that can make it that far.”
Russian Foreign Ministry spokesman Andrei Nesterenko insisted that Russia’s decision to send a naval squadron and planes to Venezuela was made before Russia’s war with Georgia and is unrelated to the conflict.
But last week, Prime Minister Vladimir Putin warned that Russia would mount an unspecified response to recent U.S. aid shipments to Georgia using Navy vessels on the Black Sea.
Shifter said it’s clear Russia in „unhappy about the U.S.’s increasing presence in the Black Sea” and „as part of its resurgent nationalism, Russia wants to flex its muscles and remind Washington that it too has important alliances in the U.S. backyard.”
U.S. seizes Fannie and Freddie
Treasury chief Paulson unveils historic government takeover of twin mortgage buyers. Top executives are out.
By David Ellis, CNNMoney.com staff writer
Last Updated: September 7, 2008: 8:28 PM EDT
NEW YORK (CNNMoney.com) – Federal officials on Sunday unveiled an extraordinary takeover of Fannie Mae and Freddie Mac, putting the government in charge of the twin mortgage giants and the $5 trillion in home loans they back.
The move, which extends as much as $200 billion in Treasury support to the two companies, marks Washington’s most dramatic attempt yet to shore up the nation’s housing market, which is suffering from record foreclosures and falling prices.
The sweeping plan, announced by Treasury Secretary Henry Paulson and James Lockhart, director of the Federal Housing Finance Agency, places the two companies into a „conservatorship” to be overseen by the Federal Housing Finance Agency. Under conservatorship, the government would temporarily run Fannie and Freddie until they are on stronger footing.
„A failure [of Fannie and Freddie] would affect the ability of Americans to get home loans, auto loans and other consumer credit and business finance,” Paulson said at a press conference in Washington. „And a failure would be harmful to economic growth and job creation.”
Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500), which were created by the U.S. government, have been badly hurt in the last year by the sharp decline in home prices as well as rising mortgage delinquencies and foreclosures. All told, the two firms have racked up about $12 billion in losses since last summer.
On Sunday, officials stressed that both Fannie and Freddie will be open for business on Monday morning, although the firms will have undergone a dramatic facelift by then.
Freddie CEO Richard Syron and Fannie CEO Daniel Mudd will no longer run the agencies, while the FHFA will assume control of the boards. Regulators took care not to foist blame on the two executives, adding that they would stick around to help with the transition.
Syron and Mudd will be replaced by two finance veterans charged with restoring the mortgage titans to health. Herb Allison, the former chairman and CEO of pension provider TIAA-CREF, will head Fannie Mae. Allison formerly served as president of Merrill Lynch.
David Moffett, who served as vice chairman and chief financial officer of U.S. Bancorp until early 2007 and then joined the Carlyle Group private-equity firm as a senior adviser, will take over Freddie Mac.
At the same time, dividends on both common and preferred shares will be eliminated in an effort to conserve about $2 billion annually. All of the firms’ lobbying and political activities will be halted immediately and charitable activities reviewed.
In addition, the Treasury Department announced a series of moves targeted at providing relief to both housing and financial markets.
Paulson said Treasury would boost housing by purchasing mortgage-backed securities from Freddie and Fannie, as well as offering to lend money to the companies and the 12 Federal Home Loan Banks. The home loan banks advance funds to more than 8,000 member banks. (Read what Paulson said.)
The Treasury, with fellow regulator FHFA, will also buy preferred stock in Fannie and Freddie to provide security to the companies’ debt holders and bolster housing finance.
The government, in agreeing to backstop the firms, said it would receive $1 billion in each company’s senior preferred stock. The government will also receive a quarterly dividend payment and the right to own 79.9% of each company.
How we got here
Sunday’s announcement brings an end to months of speculation about the fate of the two firms. Shares of Fannie and Freddie, which have fallen more than 80% as of the end of Friday’s session, were hammered this summer among concerns they would need to raise additional funds to cover future losses or need to be taken over by its federal regulator. Investors feared that either step would reduce or wipe out the value of current shareholders’ stakes.
In mid-July, the Treasury Department and Federal Reserve announced steps in to make funds available to the firms if necessary and Congress approved the sweeping proposals later that month.
Shortly thereafter, regulators stepped up their review of Fannie and Freddie. Paulson announced in August that he had tapped Wall Street firm Morgan Stanley (MS, Fortune 500) to help him examine the firms.
Sources familiar with the matter told Fortune that Morgan Stanley had determined that both Freddie and Fannie faced „meaningful” capital issues before deciding last week that government intervention was necessary. Morgan Stanley has called a firm-wide meeting on Monday morning to explain the deal.
Officials ruled out a capital infusion – a less drastic option than convervatorship – after considering questions such as whether the government would have to keep putting money in and how best Treasury officials could protect taxpayers, according to one of the sources.
In the end, the route taken amounts to „a timeout, not a liquidation,” says the source. „Conservatorship leaves all options open for the next administration.”
Following an exhaustive review, FHFA’s Lockhart said Sunday that the two companies could not continue to operate without taking „significant action.”
Fannie and Freddie have become virtually the only source of funding for banks and other home lenders looking to make home loans. Their ability to do so is crucial to the recovery of the battered home market and the broader U.S. economy.
The two firms buy loans, attach a guarantee, then sell securities backed by the loans’ income stream. All told, they own or back $5.4 trillion worth of home debt – half the mortgage debt in the country.
Reaction to the news
The Treasury-FHFA plan, which was widely anticipated after financial markets closed on Friday, drew praise from regulators, lawmakers and some market experts.
President Bush called the move „critical” to the housing market recovery. „Americans should be confident that the actions taken today will strengthen our ability to weather the housing correction and are critical to returning the economy to stronger sustained growth in the future,” he said.
Federal Reserve Chairman Ben Bernanke, who along with Paulson has led efforts to help get the U.S. housing market and the broader economy back on track, endorsed the move by Lockhart and Paulson.
„These necessary steps will help to strengthen the U.S. housing market and promote stability in our financial markets,” Bernanke said in a statement.
Sen. Charles Schumer, D-N.Y., a member of the Senate Banking Committee, said that Paulson had „threaded the needle just right” with the plan, noting that it will likely be met with praise from other lawmakers.
At first blush, Wall Street seemed encouraged by the news, although the true test will come when financial markets around the globe open Monday. Pimco’s Bill Gross, a widely followed bond fund manager, said that the Freddie-Fannie plan was the right move.
„This is a significant step and almost exactly what we had hoped for,” Gross told CNNMoney.com Sunday.
In addition to confirming the government’s sovereign credit rating, Standard & Poor’s affirmed its sterling AAA rating on both Fannie Freddie on the news, adding that its outlook for the two firms is stable.
The cost of the government intervention remains unclear however. Experts argue that it will depend in large part on the structure of the rescue, the direction of home prices and mortgage default rates.
Still it seems almost certain it will run into the billions and will most likely eclipse such other high-profile government bailouts including than the Federal Reserve’s $29 billion backing of Bear Stearns assets when it was taken over by J.P. Morgan Chase.
Paulson said that the cost to taxpayers would largely depend on the future financial performance of Fannie and Freddie.
Another unintended yet unavoidable consequence may be the impact to the nation’s banks.
Some of the nation’s largest financial institutions including JPMorgan Chase (JPM, Fortune 500) and Sovereign Bancorp (SOV, Fortune 500) own a big chunk of the estimated $36 billion in preferred shares of Fannie and Freddie, according to research published last month by Keefe, Bruyette & Woods, an investment bank that specializes in financial firms. Those stakes are at risk of being wiped out as a result of Sunday’s announcement.
Top banking regulators, including the Federal Reserve as well as the Federal Deposit Insurance Corp., said in a joint statement Sunday that a limited number of smaller institutions have significant preferred share holdings in Fannie and Freddie. They added they are prepared to work with these institutions to come up with a plan should they need to raise capital.
Still, the rescue of Fannie and Freddie could go a long way toward its intended aim – bringing stability to the housing market while making it easier for consumers to obtain affordable mortgages.