US budget negotiations setback drives stocks down






PARIS (AP) — A failed attempt find a compromise in U.S. budget negotiations sent global stock markets plummeting Friday, as investors feared the world’s largest economy could teeter into recession if no deal is found.


Without an agreement, the U.S. economy will fall off the so-called “fiscal cliff” on Jan. 1 when Bush-era tax cuts expire and spending cuts kick in automatically. The measures were designed to have a negative effect on the U.S. economy, in the hopes that the feared outcome would push lawmakers and President Barack Obama to find a deal.






“We’ve seen Europe’s politicians repeatedly flirt lemming-like with cliff-diving in 2012, and now it’s the turn of U.S. ‘leaders,’” said Kit Juckes, an analyst with Societe Generale. “The nagging fear is always there that someone, on one side of the Atlantic or the other, will forget to let rational thought take over at the last second.”


Amid the uncertainty, European shares fell. France’s CAC dropped 0.15 percent to 3,661, while the DAX in Germany dropped 0.6 percent at 7,626. The FTSE index of leading British shares retreated 0.6 percent to 5,929.


The euro also fell sharply, dropping 0.3 percent to $ 1.3182.


In Asia, Japan’s Nikkei 225 index closed 1 percent lower at 9,940.06. Hong Kong’s Hang Seng lost 0.7 percent to 22,506.29. South Korea’s Kospi shed 1 percent at 1,980.42. Australia’s S&P/ASX 200 fell 0.2 percent to 4,623.60. Mainland Chinese stocks were mixed.


U.S. stock futures tumbled after rank-and-file Republican lawmakers failed to support an alternative tax plan by House Speaker John Boehner late Thursday in Washington. That plan would have allowed tax rates to rise on households earning $ 1 million and up. Obama wants the level to be $ 400,000.


In early trading in New York, the Dow Jones industrial average dropped 1 percent to 13,183, while the broader Standard & Poor’s index fell 1.1 percent at 1,427.


“The fiscal cliff is a real threat not just for U.S. growth next year but for the outlook for global growth,” said Jane Foley, currency analyst with Rabobank.


When growth slows, energy demand does, too, and oil prices fell in anticipation.


Benchmark crude for February delivery fell $ 1.92 to $ 88.19 per barrel in electronic trading on the New York Mercantile Exchange.


___


Pamela Sampson in Bangkok and Fu Ting in Shanghai contributed to this report.


Economy News Headlines – Yahoo! News





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Yuletide Payday Loan Application Service for Fast Extra Cash this Christmas






MONTGOMERY, Alabama, December 21, 2012 /PRNewswire/ –


PaydayLoan-Lenders.com announces the launch of a new expedited Yuletide loan application service to maximize time and money for the holiday, in the shortest time possible from a computer.






Payday loans are indispensable to many consumers at this time of year, as Christmas preparations are in full swing. As the days count down, the need for last minute gift purchases, holiday treats and festive food is reaching fever pitch across the United States.


Online delivery is not an option for those who need gifts delivered on time for the 25th, so sufficient time needs to be set aside for shopping in brick-and-mortar stores, where prices can be higher in the run-up to Christmas Day. The NPD Group Inc. calculated that, between December 20th and December 26th 2011, 70% of all consumers shopped at brick-and-mortar stores. By applying for a payday loan online and potentially receiving instant approval and payout within 1 – 24 hours, there is more than ample time to spend hitting the stores and shopping up a storm.


The time taken to complete the PaydayLoan-Lenders application form is on average 2 minutes, which is substantially faster than other available payday loan application and comparison methods. The added benefit of completing the free online form is that it acts both as an application and comparison service, detailing each payday loan lender that instantly approves a loan and allowing the consumer the opportunity to make an informed decision on which to accept. Given the swiftness of the procedure, consumers will be relieved by the refreshing lack of bureaucracy involved. No credit scoring is utilized in the process of assessing eligibility for cash loans.


PaydayLoan-Lenders.com released the following statement announcing the launch of the service:


“PaydayLoan-Lenders.com is excited to announce our Yuletide loan service is up and running and ready to connect individuals with some of the fastest short term borrowing options available online, without needing to spend hours searching or waiting. Our aim is to provide access to quick extra money for those essential Christmas expenses until next payday and we invite consumers to apply for free.”


To apply, go to: http://paydayloan-lenders.com/payday-loans-lenders/


Contact:
Sam MILO
+1-786-319-9951
[email protected]


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Douglas wins AP female athlete of the year honors


When Gabby Douglas allowed herself to dream of being the Olympic champion, she imagined having a nice little dinner with family and friends to celebrate. Maybe she'd make an appearance here and there.


"I didn't think it was going to be crazy," Douglas said, laughing. "I love it. But I realized my perspective was going to have to change."


Just a bit.


The teenager has become a worldwide star since winning the Olympic all-around title in London, the first African-American gymnast to claim gymnastics' biggest prize. And now she has earned another honor. Douglas was selected The Associated Press' female athlete of the year, edging out swimmer Missy Franklin in a vote by U.S. editors and news directors that was announced Friday.


"I didn't realize how much of an impact I made," said Douglas, who turns 17 on Dec. 31. "My mom and everyone said, 'You really won't know the full impact until you're 30 or 40 years old.' But it's starting to sink in."


In a year filled with standout performances by female athletes, those of the pint-sized gymnast shined brightest. Douglas received 48 of 157 votes, seven more than Franklin, who won four gold medals and a bronze in London. Serena Williams, who won Wimbledon and the U.S. Open two years after her career was nearly derailed by a series of health problems, was third (24).


Britney Griner, who led Baylor to a 40-0 record and the NCAA title, and skier Lindsey Vonn each got 18 votes. Sprinter Allyson Felix, who won three gold medals in London, and Carli Lloyd, who scored both U.S. goals in the Americans' 2-1 victory over Japan in the gold-medal game, also received votes.


"One of the few years the women's (Athlete of the Year) choices are more compelling than the men's," said Julie Jag, sports editor of the Santa Cruz Sentinel.


Douglas is the fourth gymnast to win one of the AP's annual awards, which began in 1931, and first since Mary Lou Retton in 1984. She also finished 15th in voting for the AP sports story of the year.


Douglas wasn't even in the conversation for the Olympic title at the beginning of the year. That all changed in March when she upstaged reigning world champion and teammate Jordyn Wieber at the American Cup in New York, showing off a new vault, an ungraded uneven bars routine and a dazzling personality that would be a hit on Broadway and Madison Avenue.


She finished a close second to Wieber at the U.S. championships, then beat her two weeks later at the Olympic trials. With each competition, her confidence grew. So did that smile.


By the time the Americans got to London, Douglas had emerged as the most consistent gymnast on what was arguably the best team the U.S. has ever had.


She posted the team's highest score on all but one event in qualifying. She was the only gymnast to compete in all four events during team finals, when the Americans beat the Russians in a rout for their second Olympic title, and first since 1996. Two nights later, Douglas claimed the grandest prize of all, joining Retton, Carly Patterson and Nastia Liukin as what Bela Karolyi likes to call the "Queen of Gymnastics."


But while plenty of other athletes won gold medals in London, none captivated the public quite like Gabby.


Fans ask for hugs in addition to photographs and autographs, and people have left restaurants and cars upon spotting her. She made Barbara Walters' list of "10 Most Fascinating People," and Forbes recently named her one of its "30 Under 30." She has deals with Nike, Kellogg Co. and AT&T, and agent Sheryl Shade said Douglas has drawn interest from companies that don't traditionally partner with Olympians or athletes.


"She touched so many people of all generations, all diversities," Shade said. "It's her smile, it's her youth, it's her excitement for life. ... She transcends sport."


Douglas' story is both heartwarming and inspiring, its message applicable those young or old, male or female, active or couch potato. She was just 14 when she convinced her mother to let her leave their Virginia Beach, Va., home and move to West Des Moines, Iowa, to train with Liang Chow, Shawn Johnson's coach. Though her host parents, Travis and Missy Parton, treated Douglas as if she was their fifth daughter, Douglas was so homesick she considered quitting gymnastics.


She's also been open about her family's financial struggles, hoping she can be a role model for lower income children.


"I want people to think, 'Gabby can do it, I can do it,'" Douglas said. "Set that bar. If you're going through struggles or injuries, don't let it stop you from what you want to accomplish."


The grace she showed under pressure — both on and off the floor — added to her appeal. When some fans criticized the way she wore her hair during the Olympics, Douglas simply laughed it off.


"They can say whatever they want. We all have a voice," she said. "I'm not going to focus on it. I'm not really going to focus on the negative."


Besides, she's having far too much fun.


Her autobiography, "Grace, Gold and Glory," is No. 4 on the New York Times' young adult list. She, Wieber and Fierce Five teammates Aly Raisman and McKayla Maroney recently wrapped up a 40-city gymnastics tour. She met President Barack Obama last month with the rest of the Fierce Five, and left the White House with a souvenir.


"We got a sugar cookie that they were making for the holidays," Douglas said. "I took a picture of it."


Though her busy schedule hasn't left time to train, Douglas insists she still intends to compete through the Rio de Janeiro Olympics in 2016.


No Olympic champion has gone on to compete at the next Summer Games, but Douglas is still a relative newcomer to the elite scene — she'd done all of four international events before the Olympics — and Chow has said she hasn't come close to reaching her full potential. She keeps up with Chow through email and text messages, and plans to return to Iowa after her schedule clears up in the spring.


Of course, plenty of other athletes have said similar things and never made it back to the gym. But Douglas is determined, and she gets giddy just talking about getting a new floor routine.


"I think there's even higher bars to set," she said.


Because while being an Olympic champion may have changed her life, it hasn't changed her.


"I may be meeting cool celebrities and I'm getting amazing opportunities," she said. "But I'm still the same Gabby."


___


AP Projects Editor Brooke Lansdale contributed to this report.


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Is Newtown tipping point for change?









By Piers Morgan, CNN


December 20, 2012 -- Updated 1627 GMT (0027 HKT)









STORY HIGHLIGHTS


  • Piers Morgan: Past gun-related tragedies haven't led to any action

  • He says that must change, and he hosted a debate on the issue

  • Morgan: Laws must be changed to limit weapons, ammunition and enforce background checks

  • Rights of Americans who use guns for hunting and sport must be respected, he says




(CNN) -- On Wednesday night, I hosted a town hall-style debate on guns in America, talking to lawmakers, mass shooting survivors, lawyers, gun lobbyists -- anyone, basically, who has a strong opinion about what I consider to be the single biggest issue facing America today.


Since I joined CNN two years ago, there have been a series of gun-related tragedies, including the attack on U.S. Rep. Gabrielle Giffords and the Aurora, Colorado, movie theater massacre.


Each sparked a short-term debate about guns. Yet each debate fizzled out with zero action being taken to try and curb the use of deadly weapons on the streets of America.



Piers Morgan

Piers Morgan



Now, following the grotesque slaughter of 20 innocent young children at Sandy Hook Elementary School in Newtown, Connecticut, I sense that the mood has changed.


We have reached a crucial moment in this debate, and I intend to use my platform to continue this conversation on Wednesday night and going forward. The media have previously been quick to move on to other stories after these tragic acts of gun violence. That must change.


Opinion: Don't let this moment pass without acting on gun control






I've made my own views clear on my show -- the senseless killing has to stop. High-powered assault rifles of the type used at Aurora and Newtown belong in the military and police, not in civilian hands. High-capacity magazines, too, should be banned. And background checks on anyone buying guns in America should be comprehensive and stringently enforced.


As President Barack Obama said, doing nothing is no longer an option.


But, at the same time, law-abiding Americans who want to protect themselves under the Second Amendment right to bear arms must be respected. As should the rights of Americans to use guns for hunting and sport.


This is a vital debate for the country. Some 12,000 people are murdered in the United States with guns every year, compared with just 35 in Britain, where there are strong gun laws.


Analysis: Guns and the law


Sandy Hook should, and must, be a tipping point for real action to bring this number down.


Follow @CNNOpinion on Twitter.


Join us at Facebook/CNNOpinion.


The opinions expressed in this commentary are solely those of Piers Morgan.



Watch Piers Morgan Tonight weeknights 9 p.m. ET. For the latest from Piers Morgan click here.









Part of complete coverage on







December 20, 2012 -- Updated 1441 GMT (2241 HKT)



Howard Kurtz says reporters should stay on the story and the issues it raises.







December 20, 2012 -- Updated 1313 GMT (2113 HKT)



Douglas Rushkoff says our first instinct is to protest Instagram's new terms of service, but we should realize that Facebook paid a billion dollars for the site and needs to earn money in return.







December 19, 2012 -- Updated 2057 GMT (0457 HKT)



LZ Granderson says allowing concealed weapons in places like schools and churches would just result in more tragedy, not less.







December 19, 2012 -- Updated 2054 GMT (0454 HKT)



William Bennett says having armed and trained people could help protect schools and other vulnerable places from gun violence








Get the latest opinion and analysis from CNN's columnists and contributors.







December 19, 2012 -- Updated 1544 GMT (2344 HKT)



Rebecca Buckwalter-Poza says the vice president, who shepherded the 1994 Violent Crime Control and Law Enforcement Act through the Senate, is the right man to lead new gun control efforts.







December 19, 2012 -- Updated 1711 GMT (0111 HKT)



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December 19, 2012 -- Updated 1406 GMT (2206 HKT)



Van Jones says artists have gotten together to expose the fiscal cliff as a crisis manufactured to justify cuts in essential programs.







December 19, 2012 -- Updated 1933 GMT (0333 HKT)



James Garbarino says troubled, lonely boys view the world as hostile, and think their culture condones the use of violence to solve problems







December 19, 2012 -- Updated 1438 GMT (2238 HKT)



Lori Haas says our elected leaders have abandoned all sense of right and wrong despite epidemic deaths from guns.







December 18, 2012 -- Updated 1635 GMT (0035 HKT)



Edward Mulvey says we cannot tell which one of the thousands and thousands of young men who are quiet or withdrawn will be a killer.







December 18, 2012 -- Updated 1757 GMT (0157 HKT)



Deepak Chopra says if we stay glued to the media and relive Newtown over and over in our minds, we work against the healing process.







December 19, 2012 -- Updated 1423 GMT (2223 HKT)



Peter Bergen says gun violence claims proportionately more civilian lives in some U.S. cities than the civilian toll of the Afghan war.

















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Thousands mourn U.S.-Mexican singer Jenni Rivera






LOS ANGELES (Reuters) – Thousands of mourners on Wednesday packed a Los Angeles theater to pay their final respects to Mexican-American singer Jenni Rivera more than a week after her death in a plane crash.


Rivera, 43, best known for her work in the Mexican folk Nortena and Banda genres, died after the small jet she was traveling in crashed in northern Mexico on December 9.






Rivera’s family, dressed in white, led the memorial service eulogizing the singer. A bank of white roses was displayed in front of Rivera’s bright red coffin and a brass band performed musical interludes.


More than 6,000 people crowded into the theater about 30 miles north of her childhood home in Long Beach, California. Tickets for the service at the Gibson Amphitheatre sold out within minutes, organizers said.


The daughter of Mexican immigrants, Rivera was called the “Diva de la Banda.” She sold about 15 million albums and earned a slew of Latin Grammy nominations during her 17-year career.


“Jenni made it OK for women to be who they are,” her manager Pete Salgado said at the service. “Jenni also made it OK to be from nothing, with the hopes of being something.”


Rivera had five children, the first at age 15, and was married three times. Her third husband was baseball pitcher Esteban Loaiza. Rivera’s private life influenced her songs, which often referenced living through hardship.


“She’s a fighter and she knows it’s in all of us,” Rivera’s son Michael said between video tributes.


In recent years, Rivera branched out into television, appearing on a reality television show and serving as a judge on the Mexican version of the singing competition “The Voice.” Television broadcaster ABC was reported to be developing a comedy pilot for the singer.


Rivera’s plane crashed in mountains south of Monterrey killing all seven on board.


The singer was to perform in the city of Toluca, 40 miles southwest of Mexico City, in central Mexico after a concert in Monterrey. It is not clear what caused the crash.


(Reporting by Eric Kelsey; Editing by Stacey Joyce)


Celebrity News Headlines – Yahoo! News





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Wall Street flat amid stalemate in fiscal talks

NEW YORK (Reuters) - Stocks were little changed on Thursday as investors fretted that a deal on the U.S. budget wouldn't come as soon as they had hoped after President Barack Obama threatened to veto a controversial Republican plan.


NYSE Euronext was the star of the day, surging more than 30 percent as the S&P 500's top percentage gainer, after IntercontinentalExchange Inc said it would buy the operator of the New York Stock Exchange for $8.2 billion.


NYSE was up 31.9 percent at $31.72, while ICE shares gave up earlier gains to fall 2 percent to $125.77.


The market barely reacted to a round of strong data, including an upward revision of gross domestic product growth and stronger-than-expected home sales, suggesting talks to avert the "fiscal cliff," steep tax hikes and spending cuts due in 2013, remain the primary focus for markets.


Republicans in the U.S. House of Representatives pushed ahead with their own fiscal plan in a move that muddles negotiations with the White House. Obama has vowed to veto the plan.


While investors have hoped for an agreement to come soon between policy makers, this seems unlikely as wrangling continues over the details.


"At least in the posturing it looks as if there are ultimatums put on the table, which tends to box either side in," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.


Still, the absence of a significant sell-off shows "the market still believes that there will be an announcement of some sort. But as the clock is ticking, the most you're going to get is a stop-gap measure," said Krosby.


The Dow Jones industrial average <.dji> slipped 13.70 points, or 0.10 percent, to 13,238.27. The Standard & Poor's 500 Index <.spx> edged up 0.15 points, or 0.01 percent, at 1,435.96. The Nasdaq Composite Index <.ixic> eased 6.17 points, or 0.20 percent, to 3,038.20.


Stocks rallied earlier in the week on signs of progress in the negotiations, led by banking and energy shares, which tend to outperform in times of economic expansion. On signs of complications, however, many have turned to hedging their bets through options and exchange-traded funds.


The U.S. economy grew 3.1 percent in the third quarter, faster than previously estimated, while the number of Americans filing new claims for jobless benefits rose more than expected in the latest week.


"It is great to see this kind of growth, but investors know it could all disappear if there's no deal on the cliff," said Todd Schoenberger, managing partner at LandColt Capital in New York. "Macro data may be on the back burner for a while."


Existing home sales jumped 5.9 percent in November, more than expected, and by the fastest monthly place in three years. Housing shares <.hgx> gained 0.5 percent.


Herbalife fell 4.2 percent to $35.78 in the wake of news that hedge fund manager Bill Ackman was betting against the company as part of his big end-of-the-year short.


(Additional reporting by Ryan Vlastelica; Editing by Bernadette Baum)



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Wall Street ticks lower on “fiscal cliff” stalemate






NEW YORK (Reuters) – Stocks edged slightly lower on Thursday as investors fretted that a deal on the U.S. budget wouldn’t come as soon as they had hoped after President Barack Obama threatened to veto a controversial Republican plan.


The market barely reacted to a round of strong data, including on gross domestic product growth and housing, suggesting talks to avert the “fiscal cliff,” steep tax hikes and spending cuts due to take effect in 2013, remain the primary focus for markets.






Republican Speaker of the House John Boehner said Wednesday his chamber would pass a proposal that spares many wealthy Americans from tax hikes needed to balance the budget. Obama has threatened to veto the plan if it passes, while some Republicans oppose any deal featuring tax increases.


“The closer we get to the end of the year without a deal, the more optimism is going to evaporate,” said Todd Schoenberger, managing partner at LandColt Capital in New York. “Volatility is going to be extreme until there’s a deal, and the probability of being caught on the downside is much greater than being on the upside.”


While investors have hoped for an agreement soon between policy makers over the fiscal cliff, this seems unlikely as wrangling continues over the details.


The Dow Jones industrial average <.dji> was down 18.74 points, or 0.14 percent, at 13,233.23. The Standard & Poor’s 500 Index <.spx> was down 0.84 points, or 0.06 percent, at 1,434.97. The Nasdaq Composite Index <.ixic> was down 4.18 points, or 0.14 percent, at 3,040.18.</.ixic></.spx></.dji>


NYSE Euronext was the S&P 500′s top percentage gainer, surging 35 percent to $ 32.56 after IntercontinentalExchange Inc said it would buy the operator of the New York Stock Exchange for $ 8.2 billion. ICE shares rose 1.3 percent to $ 130.06.


Stocks rallied earlier in the week on signs of progress in the negotiations, led by banking and energy shares, which tend to outperform in times of economic expansion. On signs of complications, however, many have turned to hedging their bets through options and exchange-traded funds.


The U.S. economy grew 3.1 percent in the third quarter, faster than previously estimated, while the number of Americans filing new claims for jobless benefits rose more than expected in the latest week.


“It is great to see this kind of growth, but investors know it could all disappear if there’s no deal on the cliff,” Schoenberger said. “Macro data may be on the back burner for a while.”


Existing home sales jumped 5.9 percent in November, more than expected, and by the fastest monthly place in three years. And the Federal Reserve Bank of Philadelphia’s December index of business conditions in the U.S. Mid-Atlantic region rose to 8.1 from -10.7 in November. Analysts were looking for a read of -3.


Google Inc agreed to sell set-top TV box maker Motorola Home to Arris Group Inc for $ 2.35 billion in cash and stock. Arris rose 6.6 percent to $ 15.51 while Google was little changed.


(Editing by Bernadette Baum)


Business News Headlines – Yahoo! News





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Walter Investment Management Corp. Responds To FHA’s Actions In Its Reverse Mortgage Program






TAMPA, Fla., Dec. 20, 2012 /PRNewswire/ — Walter Investment Management Corp. (NYSE MKT: WAC) (“Walter Investment” or the “Company”) today responded to the FHA’s announced moratorium on its Full-draw HECM Reverse Mortgage product.


Mark J. O’Brien, Chairman and CEO of Walter Investment said, “We had anticipated this week’s announced moratorium on the Full-draw HECM Reverse Mortgage product and have already begun moving customers towards other FHA HECM products. We applaud Commissioner Galante and the FHA for taking actions to reduce risk to both the FHA and borrowers and believe these actions will, in fact, help improve and sustain what is a very important mortgage product. We believe the reverse mortgage sector remains a very attractive growth opportunity for Walter Investment.”






The Company indicated that while approximately 90% of 2012 originations at its Reverse Mortgage Solutions subsidiary were in the Full-draw HECM Reverse Mortgage product, it expects to be able to redirect most of the expected demand for that product into other reverse mortgage products after the Full-draw product is discontinued. While the Company expects the transition of borrowers to the HECM Variable Rate Standard and HECM Fixed Rate and Variable Saver products will likely result in a reduction to the average size of the initial draws for these borrowers, it anticipates that the impact to Reverse Mortgage Solutions’ overall origination volume will not be significant, as demand for the reverse mortgage product is largely needs-based and less driven by the product’s interest features.


The Company also strongly supports other changes being considered by FHA for the program, including establishing formal guidelines for conducting financial assessments of borrowers and the creation of set-asides for the payment of taxes and insurance, which the Company believes will enhance the long-term attractiveness and viability of the reverse mortgage product.  


About Walter Investment Management Corp.


Walter Investment Management Corp. is an asset manager, mortgage servicer and originator focused on finding solutions for consumers and credit owners. Based in Tampa, Fla., the Company has over 2,600 employees and services a diverse loan portfolio. For more information about Walter Investment Management Corp., please visit the Company’s website at www.walterinvestment.com.


Disclaimer and Cautionary Note Regarding Forward-Looking Statements


This press release contains forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Walter Investment’s plans, beliefs, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on Walter Investment’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Walter Investment’s results to differ materially from current expectations include, but are not limited to: the Company’s ability to shift potential customers to other HECM reverse mortgage products, continued support of the reverse mortgage sector from GSEs, other changes, of which we are not aware, that FHA and the other GSEs may make to the reverse mortgage product; and other factors relating to our business in general as detailed in Walter Investment’s 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by Walter Investment that the projections will prove to be correct. This press release speaks only as of this date. Walter Investment disclaims any duty to update the information herein.


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Michael Phelps voted AP male athlete of year


Now that he's away from the pool, Michael Phelps can reflect — really reflect — on what he accomplished.


Pretty amazing stuff.


"It's kind of nuts to think about everything I've gone through," Phelps said. "I've finally had time to myself, to sit back and say, '... that really happened?' It's kind of shocking at times."


Not that his career needed a capper, but Phelps added one more honor to his staggering list of accomplishments Thursday — The Associated Press male athlete of the year.


Phelps edged out LeBron James to win the award for the second time, not only a fitting payoff for another brilliant Olympics (four gold medals and two silvers in swimming at the London Games) but recognition for one of the greatest careers in any sport.


Phelps finished with 40 votes in balloting by U.S. editors and broadcasters, while James was next with 37. Track star Usain Bolt, who won three gold medals in London, was third with 23.


Carl Lewis is the only other Olympic-related star to be named AP male athlete of the year more than once, taking the award for his track and field exploits in 1983 and '84. The only men honored more than twice are golf's Tiger Woods and cyclist Lance Armstrong (four times each), and basketball's Michael Jordan (three times).


"Obviously, it's a big accomplishment," Phelps said. "There's so many amazing male athletes all over the world and all over our country. To be able to win this is something that just sort of tops off my career."


Phelps retired at age 27 as soon as he finished his final race in London, having won more gold medals (18) and overall medals (22) than any other Olympian.


No one else is even close.


"That's what I wanted to do," Phelps said. "Now that it's over, it's something I can look back on and say, 'That was a pretty amazing ride.'"


The current ride isn't so bad either.


Set for life financially, he has turned his fierce competitive drive to golf, working on his links game with renowned coach Hank Haney as part of a television series on the Golf Channel. In fact, after being informed of winning the AP award, Phelps called in from the famed El Dorado Golf & Beach Club in Los Cabos, Mexico, where he was heading out with Haney to play a few more holes before nightfall.


"I can't really complain," Phelps quipped over the phone.


Certainly, he has no complaints about his swimming career, which helped turn a sport that most Americans only paid attention to every four years into more of a mainstream pursuit.


More kids took up swimming. More advertisers jumped on board. More viewers tuned in to watch.


While swimming is unlikely to ever match the appeal of football or baseball, it has carved out a nice little niche for itself amid all the other athletic options in the United States — largely due to Phelps' amazing accomplishments and aw-shucks appeal.


Just the fact that he won over James shows just how much pull Phelps still has. James had an amazing year by any measure: The league MVP won his first NBA title with the Miami Heat, picking up finals MVP honors along the way, and then starred on the gold medal-winning U.S. basketball team in London.


Phelps already had won the AP award in 2008 after his eight gold medals in Beijing, which broke Mark Spitz's record. Phelps got it again with a performance that didn't quite match up to the Great Haul of China, but was amazing in its own right.


After the embarrassment of being photographed taking a hit from a marijuana pipe and questioning whether he still had the desire to go on, Phelps returned with a vengeance as the London Games approached. Never mind that he was already the winningest Olympian ever. Never mind that he could've eclipsed the record for overall medals just by swimming on the relays.


He wanted to be one of those rare athletes who went out on top.


"That's just who he is," said Bob Bowman, his longtime coach. "He just couldn't live with himself if knew he didn't go out there and give it good shot and really know he's competitive. He doesn't know anything else but to give that kind of effort and have those kind of expectations."


Phelps got off to a rocky start in London, finishing fourth in the 400-meter individual medley, blown out of the water by his friend and rival, Ryan Lochte. It was only the second time that Phelps had not at least finished in the top three of an Olympic race, the first coming way back in 2000 when he was fifth in his only event of the Sydney Games as a 15-year-old.


To everyone looking in, Lochte seemed poised to become the new Phelps — while the real Phelps appeared all washed up.


But he wasn't going out like that.


No way.


Phelps rebounded to become the biggest star at the pool, edging Lochte in the 200 IM, contributing to a pair of relay victories, and winning his final individual race, the 100 butterfly. There were two silvers, as well, leaving Phelps with a staggering resume that will be awfully difficult for anyone to eclipse.


His 18 golds are twice as many as anyone else in Olympic history. His 22 medals are four clear of Larisa Latynina, a Soviet-era gymnast, and seven more than the next athlete on the list. Heck, if Phelps was a nation, he'd be 58th in the medal standings, just one behind India (population: 1.2 billion).


"When I'm flying all over the place, I write a lot in my journal," Phelps said. "I kind of relive all the memories, all the moments I had throughout my career. That's pretty special. I've never done that before. It's amazing when you see it all on paper."


Four months into retirement, Phelps has no desire to get back in the pool. Oh, he'll swim every now and then for relaxation, using the water to unwind rather than putting in one of his famously grueling practices. Golf is his passion at the moment, but he's also found time to cheer on his hometown NFL team, the Baltimore Ravens, and start looking around for a racehorse that he and Bowman can buy together.


Phelps hasn't turned his back on swimming, either. He's got his name attached to a line of schools that he wants to take worldwide. He's also devoting more time to his foundation, which is dedicated to teaching kids to swim and funding programs that will grow the sport even more.


He's already done so much.


"His contribution to the way the world thinks about swimming is so powerful," Bowman said. "I don't think any other athlete has transformed his sport the way he's transformed swimming."


Phelps still receives regular texts from old friends and teammates, asking when he's going to give up on this retirement thing and come back the pool as a competitor.


He scoffs at the notion, sounding more sure of himself now than he did in London.


And if there's anything we've learned: Don't doubt Michael Phelps when he sets his mind on something.


"Sure, I could come back in another four years. But why?" he asked, not waiting for an answer. "I've done everything I wanted to do. There's no point in coming back."


___


Follow Paul Newberry on Twitter at www.twitter.com/pnewberry1963


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Arming teachers would halt massacres




William Bennett argues that schools would be safer with at least one armed person there who is well-trained in firearms use.




STORY HIGHLIGHTS


  • William Bennett: Arming, training one person in a school could help prevent shootings

  • He says armed people have stopped instances of mass killing

  • Killers may target places where they know they can't be shot down, Bennett says

  • Bennett: Guns help prevent crime and improve public safety




Editor's note: William J. Bennett, a CNN contributor, is the author of "The Book of Man: Readings on the Path to Manhood." He was U.S. secretary of education from 1985 to 1988 and director of the Office of National Drug Control Policy under President George H.W. Bush.


(CNN) -- On NBC's "Meet the Press" this past Sunday, I was asked how we can make our schools safer and prevent another massacre like Sandy Hook from happening again. I suggested that if one person in the school had been armed and trained to handle a firearm, it might have prevented or minimized the massacre.


"And I'm not so sure -- and I'm sure I'll get mail for this -- I'm not so sure I wouldn't want one person in a school armed, ready for this kind of thing," I said. "The principal lunged at this guy. The school psychologist lunged at the guy. Has to be someone who's trained. Has to be someone who's responsible."



William Bennett

William Bennett



Well, I sure did get mail. Many people agreed with me and sent me examples of their son or daughter's school that had armed security guards, police officers or school employees on the premises. Many others vehemently disagreed with me, and one dissenter even wrote that the blood of the Connecticut victims was ultimately on the hands of pro-gun rights advocates.


To that person I would ask: Suppose the principal at Sandy Hook Elementary who was killed lunging at the gunman was instead holding a firearm and was well trained to use it. Would the result have been different? Or suppose you had been in that school when the killer entered, would you have preferred to be armed?


Evidence and common sense suggest yes.



In 2007, a gunman entered New Life Church in Colorado Springs and shot and killed two girls. Jeanne Assam, a former police officer stationed as a volunteer security guard at the church, drew her firearm, shot and wounded the gunman before he could kill anyone else. The gunman then killed himself.


In 1997, high school student Luke Woodham stabbed his mother to death and then drove to Pearl High School in Pearl, Mississippi, and shot and killed two people. He then got back in his car to drive to Pearl Junior High to continue his killings, but Joel Myrick, the assistant principal, ran to his truck and grabbed his pistol, aimed it at Woodham and made him surrender.


These are but a few of many examples that the best deterrent of crime when it is occurring is effective self-defense. And the best self-defense against a gunman has proved to be a firearm.


LZ Granderson: Teachers with guns is a crazy idea










And yet, there is a near impenetrable belief among anti-gun activists that guns are the cause of violence and crime. Like Frodo's ring in "The Lord of The Rings," they believe that guns are agencies of corruption and corrupt the souls of whoever touches them. Therefore, more guns must lead to more crime.


But the evidence simply doesn't support that. Take the controversial concealed-carry permit issue, for example.


In a recent article for The Atlantic magazine, Jeffrey Goldberg, by no means an avowed gun-rights advocate, declared, "There is no proof to support the idea that concealed-carry permit holders create more violence in society than would otherwise occur; they may, in fact, reduce it."


Goldberg cites evidence from Adam Winkler, a law professor at UCLA, that concealed-carry permit holders actually commit crimes at a lower rate than the general population.


The General Accountability Office recently found that the number of concealed weapon permits in America has surged to approximately 8 million.


According to anti-gun advocates, such an increase in guns would cause a cause a corresponding increase in gun-related violence or crime. In fact, the opposite is true. The FBI reported this year that violent crime rates in the U.S. are reaching historic lows.


This comes in spite of the fact that the federal assault weapons ban expired in 2004. Supporters of the ban (not including anti-gun groups who thought it didn't go far enough in the first place) claimed that gun crime would skyrocket when the ban was lifted. That wasn't true at all.


In fact, after the expiration of the ban, The New York Times, whose editorial pages are now awash with calls for more gun restrictions, wrote in early 2005, "Despite dire predictions that America's streets would be awash in military-style guns, the expiration of the decade-long assault weapons ban in September has not set off a sustained surge in the weapons' sales, gun makers and sellers say. It also has not caused any noticeable increase in gun crime in the past seven months, according to several city police departments."


But let's take the issue one step further and examine places where all guns, regardless of make or type, are outlawed: gun-free zones. Are gun-free zones truly safe from guns?


John Lott, economist and gun-rights advocate, has extensively studied mass shootings and reports that, with just one exception, the attack on U.S. Rep. Gabrielle Giffords in Tucson, Arizona, in 2011, every public shooting since 1950 in the U.S. in which more than three people have been killed has taken place where citizens are not allowed to carry guns. The massacres at Sandy Hook Elementary, Columbine, Virginia Tech and the Century 16 movie theater in Aurora, Colorado, all took place in gun-free zones.


Do you own a gun that fell under the now-expired federal weapons ban?


These murderers, while deranged and deeply disturbed, are not dumb. They shoot up schools, universities, malls and public places where their victims cannot shoot back. Perhaps "gun-free zones" would be better named "defenseless victim zones."


To illustrate the absurdity of gun-free zones, Goldberg dug up the advice that gun-free universities offer to its students should a gunman open fire on campus. West Virginia University tells students to "act with physical aggression and throw items at the active shooter." These items could include "student desks, keys, shoes, belts, books, cell phones, iPods, book bags, laptops, pens, pencils, etc." Such "higher education" would be laughable if it weren't true and funded by taxpayer dollars.


Eliminating or restricting firearms for public self-defense doesn't make our citizens safer; it makes them targets. If we're going to have a national debate about guns, it should be acknowledged that guns, in the hands of qualified and trained individuals subject to background checks, prevent crime and improve public safety.


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The opinions expressed in this commentary are solely those of William J. Bennett.






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