"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Friday, July 30, 2010

ASARCO gave EPA monies "from the large Bankruptcy settlement" according to EPA OIG report

page 4
"as the Agency refraining from drawing down from the Superfund Trust Fund at the Bureau of Public Debt for 4 months because the Agency received collections from the large ASARCO Bankruptcy Settlement for Superfund that occurred in the FY 2010 first quarter."

page 5
...'The Agency reported to OMB that the $309 million increase in Collected Spending Authority from Offsetting Collections is primarily due to the ASARCO Bankruptcy Settlement for the Superfund program that occurred in the FY 2010 first quarter.
..."The Agency reported to OMB that the $262 million increase in Change in Unfilled Customer Orders – Advances Received is primarily due to the ASARCO Bankruptcy Settlement for the Superfund program that occurred in the FY 2010 first quarter."

page 10
"The Agency reported to OMB that the $294 million increase in Cashout Advances, Superfund, is primarily due to the ASARCO Bankruptcy Settlement for the Superfund program that occurred in the FY 2010 first quarter."
www.epa.gov/oig/reports/2010/20100719-10-2-0166.pdf

ASARCO former principle-bondholder Citigroup now ordered to pay SEC over 70 million in fines$

"Citigroup to Pay $1 for Every $500 in Subprime Exposure It Hid
by Marian Wang
ProPublica, Yesterday, 4:08 p.m.
Citigroup has agreed to pay the SEC $75 million to settle charges that the bank hid exposure to more than $40 billion [1] in subprime CDOs. (That works out to roughly $1 fine for every $500 worth of hidden exposure.) Read the full SEC complaint".
http://www.propublica.org/blog/item/citigroup-to-pay-for-75-million-for-hiding-exposure-to-subprime-cdos

[do search on "Citigroup" in blog search engine]
[also see
epgtlo.blogspot.com/2009/07/citigroup-comment-on-pemex.html ]

Thursday, July 29, 2010

Grupo Mexico proposed merger of railroad units

"We are expecting the notification ... of this ruling will be by the end of August," Octavio Ornelas, a director of the company's transportation arm, said on a conference call for investors....'If Cofeco appeals that ruling, then we will spend another six to nine months in order to have a positive ruling so we will have that consolidation ready by the end of the first quarter of next year,' he said....Ferromex and Ferrosur are clustered under Grupo Mexico's transportation division, Infraestructura y Transportes Mexico, or ITM...."

http://www.miningweekly.com/article/grupo-mexico-says-rail-merger-depends-on-regulators-2010-07-29