Tag Archives: Alabama

Nobel Prize Winner Peter Diamond “Unqualified” for Federal Reserve

8 Jun

Citing opposition from Senate Republicans, MIT professor and Nobel Prize winning economist Peter Diamond has asked the White House to withdraw his nomination to the Federal Reserve’s board of governors.

In an article written for The New York Times, Diamond explained the situation, “Last October, I won the Nobel Prize in Economics for my work on unemployment and the labor market. But I am unqualified to serve on the board of the Federal Reserve — at least according to the Republican senators who have blocked my nomination. How can this be?”

Leading the charge against his nomination was Alabama Republican senator Richard Shelby, who claims that Diamond lacks experience making monetary policy.

“Although Dr. Diamond is a skilled and accomplished theoretical economist, it is clear to many of us that he does not possess the appropriate background, experience, or policy preferences to serve on the Board of Governor,” Shelby has said.

Though Diamond’s nomination cleared the Senate Banking Committee three times, full confirmation by the Senate was unlikely because there was not enough Republican support to reach the 60 votes necessary for confirmation.

Diamond’s full article is well worth the read.

Videos and Pictures of Alabama Tornadoes

28 Apr

At least 250 people have died in 6 southern states as a string of vicious tornadoes leveled property and left a swath of destruction in their path. Alabama was the hardest hit of the states with at least 162 confirmed fatalities. Governor Robert Bentley said, “We had a major catastrophic event.”  Tornadoes also caused fatalities in Mississippi, Tennessee, Georgia, Virginia and Kentucky. Each of the states affected has declared a state of emergency.

The tornadoes moved in rapidly and devastated urban areas like Tuscaloosa, Alabama. Residents had little time to flee or prepare for the storms. The National Weather Service said it received reports of 137 tornadoes from the storm. An estimated 1 million people are without power and several hundred people were injured in the storm. A nuclear power plant was shut down in the aftermath of the storm.

Residents produced some absolutely incredible and terrifying videos of the disaster. In this clip, an obviously terrified videographer records as the tornado tears up trees in a nearby parking lot.

Entire neighborhoods were destroyed by the tornadoes.

Here’s video from storm chasers of four different tornadoes that touched down during the storms.

You can see how terrified the newscasters are as they report the storm live. The weatherman is clearly in shock and trying to keep it together.

This photo just captures the sheer size of one of the storms.

In this footage (posted by the AP), you get a real sense of just how wide these storms were.

Look at the sheer size of the storm as it approaches. Also, note that it is right downtown, in a highly populated area.

This video was shot from inside a car during the storms. You can see just how large the storm is and watch as it jumps across the highway.

I have no idea why anyone would be outside when they can see this so close to them.

This photo is perhaps most shocking of them all. The tornado is just tearing about an urban area.

Will update as new images/ videos become available.