10-20-2019  7:38 am   •   PDX Weather    •   SEA weather  
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NORTHWEST NEWS

Washington State to Vote on Affirmative Action Referendum

More than two decades after voters banned affirmative action, the question of whether one's minority status should be considered in state employment, contracting, colleges admissions is back on the ballot

Merkley Introduces Legislation that Protects Access to Health Care for Those Who Cannot Afford Bail

Under current law, individuals in custody who have not been convicted of a crime are denied Medicare, Medicaid, and veterans’ benefits

New County Hire Aims to Build Trust, Transparency Between Community and Public Safety Officials

Leneice Rice will serve as a liaison focused on documenting and reporting feedback from a community whose faith in law enforcement has been tested

Hank Willis Thomas Exhibit Opens at Portland Art Museum

One of the most important conceptual artists of our time, his works examine the representation of race and the politics of visual culture

NEWS BRIEFS

GFO Offers African Americans Help in Solving Family Mysteries

The Genealogical Forum of Oregon is holding an African American Special Interest Group Saturday, Oct. 19 ...

Third Annual NAMC-WA Gala Features Leader on Minority Business Development

The topic of the Washington Chapter of the National Association of Minority Contractors' event was 'Community and Collaboration' ...

Building Bridges Event Aims to Strengthen Trust Between Communities

The 4th Annual Building Bridges of Understanding in Our Communities: Confronting Hate will be held in Tigard on...

The Black Man Project Kicks Off National Tour in Seattle

The first in a series of interactive conversations focused on Black men and vulnerability takes place in Seattle on October 25 ...

Protesters Rally in Ashland to Demand 'Impeach Trump Now'

Activists are rallying in Ashland Sunday Oct, 13 to demand impeachment proceedings ...

Seattle's first Opportunity Zone development breaks ground

SEATTLE (AP) — The Opportunity Zones program was marketed as a way to help poor communities by offering major capital-gains tax breaks for investors to park their cash in 8,000 designated low-income census tracts.Instead, critics have labelled it a "tax scam," ''the latest example of urban...

Prosecutors: Trade war opens doors For Mexican drug cartels

PORTLAND, Ore. (AP) — Federal law enforcement officials in Oregon say they've uncovered an elaborate scheme to convert Mexican drug profits from sales in the United States back into pesos using Chinese citizens who seek to circumvent their country's banking laws.The Mexican drug cartels are...

Vaughn scores twice, Vandy upsets No. 22 Missouri 21-14

NASHVILLE, Tenn. (AP) — Derek Mason wants it known he's the best coach for the Vanderbilt Commodores.Riley Neal came off the bench and threw a 21-yard touchdown to Cam Johnson with 8:57 left, and Vanderbilt upset No. 22 Missouri 21-14 on Saturday with a stifling defensive...

No. 22 Missouri heads to Vandy, 1st road trip since opener

NASHVILLE, Tenn. (AP) — Missouri coach Barry Odom knows only too well the dangers of going on the road and how a few mistakes can prove very costly.While some of his players my not remember that stunning loss at Wyoming to open this season, Odom hasn't forgotten."We're going to treat it just...

OPINION

Atatiana Jefferson, Killed by Police Officer in Her Own Home

Atatiana Jefferson, a biology graduate who worked in the pharmaceutical industry and was contemplating becoming a doctor, lived a life of purpose that mattered ...

“Hell No!” That Is My Message to Those Who Would Divide Us 

Upon release from the South African jail, Nelson Mandela told UAW Local 600 members “It is you who have made the United States of America a superpower, a leader of the world" ...

Rep. Janelle Bynum Issues Response to the Latest Statement from Clackamas Town Center

State legislator questions official response after daughter questioned for ‘loitering’ in parking lot ...

Why Would HUD Gut Its Own Disparate Impact Rule?

"You can’t expand housing rights by limiting civil protections. The ’D’ in HUD doesn’t stand for ‘Discrimination’" ...

AFRICAN AMERICANS IN THE NEWS

New Emmett Till marker dedicated to replace vandalized sign

GLENDORA, Miss. (AP) — A new bulletproof memorial to Emmett Till was dedicated Saturday in Mississippi after previous historical markers were repeatedly vandalized.The brutal slaying of the 14-year-old black teenager helped spur the civil rights movement more than 60 years ago.The...

Parents sue Virginia school district over racist 2017 video

HENRICO, Va. (AP) — The parents of a Virginia student who say their son was assaulted and bullied by his middle school football teammates in an incident captured on video two years ago are suing the school system.The video, which showed football players simulating sex acts on black students...

Team abandons FA Cup qualifier after racial abuse

LONDON (AP) — An FA Cup qualifier between Haringey Borough and Yeovil was abandoned Saturday when the home team walked off the field after one of its players was racially abused.Haringey, a London-based non-league club, walked off in the 64th minute after claims its Cameroonian goalkeeper...

ENTERTAINMENT

Adam Lambert: Happy to see more LGBTQ artists find success

NEW YORK (AP) — Adam Lambert, who rose on the music scene as the runner-up on "America Idol" in 2009, says he's happy to see more mainstream LGBTQ artists find major success."I think it's less taboo to be queer in the music industry now because there's so many cases you can point to like,...

Jane Fonda returns to civil disobedience for climate change

WASHINGTON (AP) — Inspired by the climate activism of a Swedish teenager, Jane Fonda says she's returning to civil disobedience nearly a half-century after she was last arrested at a protest.Fonda, known for her opposition to the Vietnam War, was one of 17 climate protesters arrested Friday...

Naomi Wolf and publisher part ways amid delay of new book

NEW YORK (AP) — Naomi Wolf and her U.S. publisher have split up amid a dispute over her latest book, "Outrages."Wolf and Houghton Mifflin Harcourt announced separately Friday that they had "mutually and amicably agreed to part company" and that Houghton would not be releasing "Outrages."...

U.S. & WORLD NEWS

Where you die can affect your chance of being an organ donor

WASHINGTON (AP) — If Roland Henry had died in a different part of the country, his organs might have been...

Impeachment inquiry puts spotlight on Perry, who shunned it

WASHINGTON (AP) — Long after more flamboyant colleagues flamed out of President Donald Trump's favor amid...

Analysis: Confronted by impeachment, Trump adds to the chaos

WASHINGTON (AP) — The impeachment investigation into President Donald Trump has thrust Washington into a...

Italian experts defuse WWII bomb in northern city

MILAN (AP) — Italian authorities have evacuated 4,000 people from the center of the northern city of...

Bolivians pick between Evo Morales and change in tight vote

LA PAZ, Bolivia (AP) — South America's longest-serving leader was seeking an unprecedented fourth term in...

15 dead after Russian dam collapse floods dormitories

MOSCOW (AP) — At least 15 people are dead after a dam at a small Siberian gold mine collapsed and water...

McMenamins
Mark Thompson CNN Money

LONDON (CNNMoney) -- Italy is grappling with a scandal at one of the world's oldest banks that could affect the outcome of elections next month and dent Mario Draghi's record as Europe's top central banker.

Monte dei Paschi di Siena, founded in 1427, last week revealed it faced losses of up to €720 million on three derivatives trades, carried out in 2006-2009, details of which were kept hidden from regulators.

Italy's third-biggest bank was forced to ask for €3.9 billion in state aid last year when it failed to meet tougher European capital standards, as losses on Italian government bonds weakened its balance sheet. If it is unable to repay the special bond, it may face nationalization.

The bank's shares have lost 16% since posting a 2013 high on Jan. 7.

The revelations have sparked a round of recriminations about who knew what, and when, about the derivative trades, drawing outgoing Prime Minister Mario Monti and European Central Bank President Draghi into the firing line.

Draghi, who has been praised for his deft handling of Europe's credit crisis last year, was head of the Bank of Italy at the time the trades were carried out. He is due to take charge of EU banking regulation under plans for a single supervisory authority.

Giulio Tremonti, a former economy minister in Silvio Berlusconi's government, has described Draghi's failure to prevent the trades during his time at the Bank of Italy as shocking. The ECB has declined to comment, while the Bank of Italy has accused the previous leadership at Monte dei Paschi of withholding critical information, subsequently made available by the new management.

Monte dei Paschi appointed Alessandro Profumo, a former CEO at Italy's biggest bank Unicredit, as chairman last April, and Fabrizio Viola as new chief executive last February.

Other observers believe Draghi did what he could.

"There are some official documents from the Bank of Italy that point to the fact that the bank was engaged in very risky activities, and that some of the risks were not balanced and some were not properly accounted for on their books," Nicola Borri, assistant economic professor at LUISS Guido Carli University in Rome told CNN.

"However, some of the revelations of (the) last few days point to the fact that the Bank of Italy might not have known some details of these derivatives," Borri added.

Italian finance minister Vittorio Grilli told Parliament Tuesday that Bank of Italy oversight in 2010 had prevented Monte dei Paschi from carrying out similar trades, and dismissed suggestions that the scandal raised questions about the stability of the country's banking system.

Monti has come under fire from political rival Silvio Berlusconi and his allies for agreeing to provide assistance to the bank. Monti steered Italy through the depths of the sovereign debt crisis last year at the head of a technocrat government, and is seeking re-election when Italians go to the polls next month.

But he, in turn, has criticized the center-left Democratic Party, currently leading in opinion polls, for its close links to the bank. Democratic Party politicians control Monte dei Paschi's biggest shareholder.

Italy faces a tough 2013. It has already been in recession for five consecutive quarters. The economy is believed to have shrunk by 2.4% in 2012, and is expected to contract again this year.

Investors are hoping that the election delivers a government that continues with the fiscal consolidation and reform agenda introduced by Monti last year. The Democratic Party, led by Pier Luigi Bersani, supported many of Monti's reforms and could build a coalition with the former European Commissioner.

But support for Bersani may slip as a consequence of the banking scandal, complicating his search for a workable majority in both houses of Parliament, particularly if his party loses a number of tight regional races to Berlusconi.

"The Democratic Party needs to win in most regions to get a majority in the Senate, while the majority in lower chamber seems assured. So the impact might be important," Borri said.

 

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