NYMHM: Silicon Valley wealth gap, "dodgy collateral, " air car, Chavez questioned

[nymhm at lists.artsandmedia.net]

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  NEWS YOU MIGHT HAVE MISSED * February 20, 2008 * Vol. 7, No. 8

  Important but overlooked news from around the world.
  NYMHM is a free service of Newsdesk.org.

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QUOTED:

    "For the moment, we see a tougher position ... motivated by
    the political space which President Hugo Chavez has tried to
    open for them."

    -- Colombia's peace commissioner Luis Carlos Restrepo, on
    the Venezuelan leader's hostage negotiations with leftist
    rebels in Colombia (see "Chavez," below).


CONTENTS:

    *Top Stories*
      "Dodgy collateral" fuels new bank borrowing
      Wealth gap widens in Silicon Valley
      Wikileaks shutdown thwarted

    *Transportation*
      Much puffery about air-powered car

    *Chavez*
      Friend of hostages, or friend of hostage-takers?


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  TOP STORIES
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  > "Dodgy Collateral" Fuels New Bank Borrowing

    U.S. banks have borrowed almost $50 billion in the last month
    from the Federal Reserve, using an expanded Federal Reserve
    program that some critics fear will deepen instability long-term.

    The Financial Times of London reports that the Reserve's Term
    Auction Facility has enabled the government to reduce "financial
    stress" by "channelling liquidity into the banking system."

    It achieves this by allowing banks to "borrow at relatively
    attractive rates against a wider range of their assets than
    previously permitted ... "

    GET THE WHOLE STORY:

    http://www.newsdesk.org/archives/004557.html


  > Wealth Gap Widens in Silicon Valley

    The information economy may be firing on all cylinders, but in
    Silicon Valley more than 60,000 "midwage" jobs -- defined as
    those paying between $30,000 to $80,000 annually -- disappeared
    between 2002 and 2006.

    During that same period, however, Silicon Valley employers added
    more than 66,000 jobs paying less than $30,000.

    The Silicon Valley Index, published annually by a public-private
    consortium, details the changes, many of which ...

    GET THE WHOLE STORY:

    http://www.newsdesk.org/archives/004559.html


  > Wikileaks Shutdown Thwarted

    Infoworld technology guru Robert Cringley said the attempted
    shutdown of the Wikileaks Web site by a U.S. judge at the
    request of a Swiss bank was a futile effort that only fueled
    greater interest in ...

    GET THE WHOLE STORY:

    http://www.newsdesk.org/archives/004560.html


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  TRANSPORTATION
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  > Much Puffery About Air-Powered Car

    An automobile that runs on compressed air got a boost this
    week with an investment from India's Tata Motors.

    MDI Industries, of Carros, France, designed the cars based
    on technology invented by Guy Negre, a former Formula
    One engineer.

    The project has been in development for 14 years, but no
    carmaker has yet put the car into production.

    Now, according to some reports, Tata is planning to manufacture
    and sell air cars in ...

    GET THE WHOLE STORY:

    http://www.newsdesk.org/archives/004561.html


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  CHAVEZ
........................................................................

  > Friend of Hostages, or Friend of Hostage-Takers?

    Venezuela's firebrand President Hugo Chavez has been deeply
    involved in recent months in trying to resolve the long-running
    standoff over hundreds of hostages held by Colombian rebels.

    He was credited last month for gaining the release of two
    hostages, and he spoke last week with French President Nicolas
    Sarkozy about working to attain the release of more.

    But new criticisms against Chavez say he is doing more harm
    than good -- and a former hostage agrees ...

    GET THE WHOLE STORY:

    http://www.newsdesk.org/archives/004562.html


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Editor: Josh Wilson, Will Crain
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