2Cents: Extraordinary session did happen…..:

The Iraqi Council of Representatives, after the resumption of the extraordinary session headed by Salim al-Jubouri, Speaker of the House of Representatives on Friday, the first reading of the proposed amendment to the Fourth Law of the elections of the House of Representatives No. 45 of 2013.

The media department of the House of Representatives in a statement, said Jubouri said at the outset of the meeting, The Council in a special session to continue to correct the democratic process, which took on the shoulders and work throughout the legislative years to achieve, “noting that” the Council is accelerating its steps in order to achieve the constitutional framework controlled within the treatment in favor of the process and establish the historical contexts and precedents She saw her elimination yesterday, ” and praised” the role of the judiciary and full response to all political forces and their compliance with Ray judiciary , which is the sanctuary of sole separation and the rule of constitutional issues in the hope of a counting comprehensive in all centers and electoral stations in Iraq. ”

The Speaker of the House of Representatives stressed that “the nominal goal of the Council is to protect the political process that has shed rivers of Iraqi blood honorable to preserve and make it clear to all the elections in which to discredit and thwart all corrupt attempts to pollute this legitimacy,” explaining that “the Council is continuing to complete the task in a clear constitutional manner In a manner that can not be confused to fix the fixed rights and restore the rights vested within the disciplined procedures will cut all the charges against the electoral process and contribute to the detection of the manipulators of the will of the people and accountability by law and pursue them, whatever their addresses and positions of political or political.

Jubouri noted that “today’s meeting aims to extend the life of the legislative authority and without the consequences of any financial burden of the state and parallel with the age of the executive authority to prevent the legislative vacuum and maintain the balance of the course of the State under the role of the judiciary to supervise the counting process as stipulated The law of the third amendment to the law of elections of the Council of Representatives and approved by the Federal Court, “noting that” all this was not within the objectives of the parties and individuals or lists, but the sovereign interest of the Council on the legitimacy and legitimacy of state institutions, which will be based on the will of the people and to maintain the path Democratic Iraq “.

For his part, MP Niazi, said the decision of the House of Representatives to submit a request signed by 60 deputies to the Presidency of the Council includes the proposed law to continue the work of the House of Representatives until the completion of the process of counting and sorting by hand.

The statement said that the Council completed the first reading of the proposed law of the Fourth Amendment to the Law of the elections of the House of Representatives No. 45 of 2013 and submitted by the Legal Committee in view of the issuance of the Supreme Court decision No. (99, 104 and 106 / Federal / Media / 2018) on 21/6/2018, The deputies to take the necessary to implement some paragraphs, which calls for the work of the House of Representatives and for the purpose of follow-up implementation of the resolution and ensure the integrity of the process of counting and sorting.

It was then decided to resume the session on Sunday 24/6/2018.



Samson:  US banks succeed in overcoming stress test

22nd June, 2018

Federal Reserve Bank said that US banks will be able to lend to households and businesses during the next global recession

The US Federal Reserve said in a statement on Thursday that the results of the “stress test” showed that large and regional US banks had enough capital to cope with the crisis scenarios used in the test

An endurance test is an annual procedure conducted by the Federal Reserve using economic scenarios designed to determine whether the Bank has sufficient capital to bear the risk impact

The 35 banks tested are about 80 percent of all banks operating in the United States

The more severe default scenario used in the test, which assumes a 10% inflation rate, will cause a total loss of $ 578 billion for the nine quarters of the benchmark

The Fed explained that the ratio of high-quality capital to risk-weighted assets would fall from 12.3 percent in the fourth quarter of 2017 to 7.9 percent in the “default stress” scenario
The statement pointed out that despite the difficult scenario and other factors that affected the test this year, the levels of capital in banks after this recession is higher than in the major banks in the years before the last recession in 2008

The Federal Reserve conducts this test every year to ensure that banks and financial companies have sufficient capital to survive in times of crisis   LINK


Greg Hunter – Weekly News Wrap-Up 6.22.18    https://youtu.be/gqN0xxawThg