“Detroit has, historically, been one of the more violent cities in the U.S.,” says Megan Wolfram, an analyst at iJet Intelligent Risk Systems, a Maryland-based risk-assessment firm. “They have a number of local crime syndicates there–a number of small gangs who tend to compete over territory.”
Detroit was followed closely on the list by the greater Memphis, Tenn., and Miami, Fla., metropolitan areas. Those three were the only large cities in America with more than 950 violent crimes committed per 100,000 people.
via America’s Most Dangerous Cities – Forbes.com.
Indian Maoists hijack train
Maoists have taken over a train carrying about 300 passengers, on the eve of the second round of voting in Indian national elections.
At least 200 Maoists launched their raid on the train on Wednesday in Jharkhand province and forced the driver to take it to Latehar station, police said.
The group later fled into the jungle, after which police released passengers on the Mugalsaria to Barkakana train at Daltangunj railway station, Jharkhand.
via Al Jazeera English – CENTRAL/S. ASIA – Indian Maoists hijack train .
Booksellers told The Daily Telegraph that while it is regarded in most countries as a ‘Nazi Bible’, in India it is considered a management guide in the mould of Spencer Johnson’s “Who Moved My Cheese”.
Sales of the book over the last six months topped 10,000 in New Delhi alone, according to leading stores, who said it appeared to be becoming more popular with every year.
via Indian business students snap up copies of Mein Kampf – Telegraph.
Regulators Disclose Criteria for Bank ‘Stress Tests’
By ERIC DASH
Federal regulators released the criteria they used to assess the financial health of the nation’s 19 biggest banks on Friday, but provided little new information for investors to distinguish the industry’s weak players from the strong.
In a 21-page report, the Federal Reserve regulators broadly laid out the tools they used to project bank losses if the economy worsens, and officials established an unspecified baseline to measure how much additional capital the banks should add as a buffer against higher losses. But they provided no concrete metrics to assess the depths of the troubles facing the industry or specific banks.
Still, the Federal Reserve report suggested that regulators are focusing on the amount of capital that they want banks to hold in common stock, which makes it easier for them to absorb future losses as the recession wears on. That could force at least a handful of the 19 banks to raise significant amounts of new capital and could lead to greater government ownership stakes in the banks.
“Losses associated with the deepening recession and financial market turmoil have substantially reduced the capital of some banks,” the Federal Reserve report on the stress test said. “Lower overall levels of capital — especially common equity — along with the uncertain economic environment have eroded public confidence in the amount and quality of capital held by some firms, which is impairing the ability of the banking system to perform its critical role of credit intermediation. “
Despite the limited details, Wall Street analysts and traders are already using whatever glimmers of information that have seeped out to conduct their own “stress tests.” Investors are making bets on which bank stocks may rise or fall even before the official exam results are announced. The stress test criteria were released as federal regulators started briefing top executives from the 19 large banks about how their companies fared on the examination. In closed-door meetings at the regional Federal Reserve Bank offices, the regulators plan to review their preliminary findings and inform bankers if they need additional capital. The banks will have until Tuesday to dispute any of the results before they are made public on May 4.
via Regulators Disclose Criteria for Bank ‘Stress Tests’ – NYTimes.com.
WASHINGTON, April 21 (Reuters) – Doha Bank’s DOBK.QA New York branch has agreed to pay $5 million to settle charges by U.S. regulators that it did not adequately monitor suspicious activities related to fund transfers and other draft services, the Office of the Comptroller of the Currency said on Tuesday.
The OCC and the Financial Crimes Enforcement Network said the Doha Bank branch did not have adequate controls in place to manage the risk of money laundering and other suspicious activity.
“It is critically important that institutions have effective systems in place to identify and report suspicious transactions in a timely manner, especially with regard to higher-risk products and services,” Comptroller John Dugan said.
via Doha Bank branch to pay $5 mln to settle US charges | Industries | Financial Services & Real Estate | Reuters .
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