Cake or Death: 10 arrested for roles in Dahab bombings

Al Gore says global warming is YOUR fault!
"He betrayed this country! He played on our fears!"
You don't say...

September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

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Tuesday, April 25, 2006

10 arrested for roles in Dahab bombings

Finally some good news after so much carnage...

DAHAB, Egypt (AP) — Police arrested 10 people Tuesday and divers retrieved body parts from the sea after three bombs ripped apart a Sinai beach resort at the height of Egypt's tourist season, killing 24 people and injuring more than 80, many of them foreigners.

It was the third terrorist attack on a Sinai resort in less than two years to coincide with a national holiday. It also seemed to open a rift between hard-line al-Qaeda sympathizers and other radical Muslim groups, such as Hamas, which immediately condemned the bombings.

Security police said they had detained for questioning 10 people — three of whom had arrived in Dahab on Sunday and tried to leave the resort 15 minutes after the blasts in a car with fake license plates. The police said they did not yet know if the explosions — timed for maximum destruction in a promenade of bars, restaurants and shops in the early evening — were caused by suicide attackers or bombs on timers.

The blasts were so powerful that police divers worked Tuesday to retrieve body parts from the shallow waters of the sea. At one spot near the beach, two black sandals lay in a pool of blood on a wooden footbridge.

The Hamas codemnation of the bombings is interesting... Counterterrorism blog has more links to the theory al Qaeda is behind the bombings.

Why is Hamas against bombings? They've rationalized bombings as self defense and created a terrorist security branch... Are they trying to talk a good game and pretend the right hand doesn't know what the left hand is doing to improve their standings in the international community? Maybe get some of that aid back so they can pay their bills? Or are they just trying to keep their power in the face of possible open revolt by the Fatah members of the government?

Link to me! Posted by jwookie : 2:30 PM

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