Suit to recover lost money
The National Credit Union Administration filed a lawsuit in a Kansas federal court to recover $1.1 billion from UBS Securities, alleging that the Switzerland-based company violated state and federal laws in the sale of mortgage-backed securities to the U.S. Central Federal Credit Union and the Western Corporate Federal Credit Union. Both credit unions failed as a result of the investments they made through UBS Securities. The suit alleges that UBS made numerous misrepresentations and omissions of material fact in the offering documents related to the securities.
A National Cancer Institute study indicates that high density breast mammograms, a marker of increased risk of developing breast cancer, does not seem to increase the risk of death among breast cancer patients. In the study of over 9,000 women with a confirmed diagnosis of breast cancer, high mammographic density was not associated with the risk of death from breast cancer or death from all causes combined.
Robot speed record
Cheetah, a robot being developed by the Defense Advanced Research Projects Agency, set a new land speed record of 18 miles an hour, breaking its own previously held record and surpassing the speed record of Usain Bolt, the world’s fastest human runner. Bolt’s record 27.78 mph for a 20-meter split during a 100-meter sprint was broken by Cheetah’s 28.3 mph performance.
Bank industry lobbyists turn to “social welfare”
The American Bankers Association, the Washington-based lobbying and trade association for 5,000 banks nationwide, is expected to ask the IRS to approve a tax-exempt “social welfare” organization whose real purpose will be to raise and spend unlimited funds to influence the outcome of federal elections. The ABA supports congressional candidates who are likely to support repeal of the Dodd-Frank Wall Street Reform Act, Public Citizen noted in a letter that asks the IRS to reject the application.
North Dakota marijuana vote
A medical marijuana initiative was rejected by the South Dakota Secretary of State because the petitions contained thousands of residents whose signatures could not be verified. Eight members of the North Dakota University football team are facing charges of petition fraud, the National Organization for the Reform of Marijuana Laws said. Meanwhile, medical marijuana initiatives await voters in Arkansas, Colorado, Massachusetts, Montana, Oregon, and Washington.
Secret ballot upheld for unions
A federal judge upheld the constitutionality of the Save Our Secret Ballot Amendment that was approved by voters in Arizona, South Dakota, South Carolina and Utah in the 2010 elections, the Goldwater Institute said. The amendment protects workers’ right to secret ballots in union-organizing elections. The initiatives were challenged by the National Labor Relations Board.
Men with high risk for heart disease had lower blood pressure after drinking non-alcoholic red wine every day for four weeks, the American Heart Association said. Researchers studied 67 men with diabetes and/or three or more cardiovascular risk factors who ate a common diet with 10 ounces of red wine, non-alcoholic red wine or three ounces of gin.
Demystifying food ingredients
Have you ever wondered about mysterious-sounding food ingredients such as anti-caking agents, emulsifiers, food colors and leavening agents, just to name but a few? The International Food Information Council website features a document which consumers can use to learn what goes into some of the foods they eat. The Council said long names of some food ingredients listed on food labels are often unfamiliar to consumers, leading to many questions, but that is because the U.S. Food and Drug Administration requires them to be listed using their formal, scientific names; for example, sodium bicarbonate instead of “baking soda.”