LBN – Special Report – Tuesday


Vice President Joe Biden delivered a pointed criticism of Israeli Prime Minister Benjamin Netanyahu before a Jewish-American group Monday, describing the White House’s feelings mostly as “overwhelming frustration.” “I firmly believe that the actions that Israel’s government has taken over the past several years—the steady and systematic expansion of settlements, the legalization of outposts, land seizures—they’re moving us, and more importantly, they’re moving Israel in the wrong direction,” Biden told a J-Street meeting in Washington, D.C. However, he also noted that the U.S. remains committed to Israel’s security. The comments come as talks between the two countries have been halted over a military-aid package, as Israel is demanding more money than the U.S. is willing to contribute.

*28+ Killed in Taliban Suicide Attack

At least 28 people were killed and more than 327 others wounded in an explosion in central Kabul during morning rush hour early Tuesday, Afghan officials say. The attack reportedly happened on a compound for a government security agency—similar to the U.S. Secret Service—in a residential neighborhood. A suicide car bomb at the compound’s gates was detonated, followed by a group of militants entering the facility and engaging in a battle with security forces, the AP reports. A Taliban spokesman told the AP the militant group was responsible.


*Report: Lewandowski Demoted by Trump

Corey Lewandowski, Donald Trump’s campaign manager and notorious arm-grabber, has been demoted to a body man and a scheduler, according to a CBS News report. Paul Manafort, who was hired last week, will now run the GOP presidential frontrunner’s campaign in his stead. The number of staffers that report directly to Lewandowski, known for a history of yelling at employees and making demeaning comments to women, has been reduced considerably. The campaign’s national field director, Stuart Jolly, also resigned Monday.

*LBN-BUSINESS INSIDER:   ***At first glance, the maker of Cheerios and Cocoa Puffs might not fit the image of a cutting-edge venture capital investor. But with the food business moving to healthier offerings and online distribution, General Mills has created a venture capital unit that recently led a $3 million investment in Rhythm Superfoods, a specialty start-up that makes kale chips and broccoli crisps. General Mills, based in Minneapolis, is part of an increasing number of old-economy companies, including the convenience chain 7-Eleven and the Campbell Soup Company, that have joined a crowd of technology companies to create venture capital funds. Through them, they scout for new products or services and promising potential business partners.   ***Goldman Sachs had its worst quarter in more than four years as volatile markets hit nearly all of the firm’s business lines. In results announced on Tuesday morning, Goldman said that its revenue in the first three months of the year declined 40 percent from the same period a year earlier. Its profit was down even more sharply.

*WHO READS LBN? Comedian Adam Christing

*LBN-INVESTIGATES: The Great Depression

1. Herbert Hoover (1874-1964), a Republican, was president when the Great Depression began. He infamously declared in March 1930 that the U.S. had “passed the worst” and argued that the economy would sort itself out. The worst, however, had just begun and would last until the outbreak of WWII (1939).

2. People who lost their homes often lived in what were called “Hoovervilles,” or shanty towns, that were named after President Herbert Hoover. There was also “Hoover Stew” (food dished out in soup kitchens), “Hoover Blankets” (newspapers that served as blankets), “Hoover Hogs” (jack rabbits used as food), and “Hoover Wagons” (broken cars that were pulled by mules).

3. Chicago gangster Al Capone (1899-1947), in one of his sporadic attempts at public relations, opened a soup kitchen during the Great Depression. For millions, soup kitchens provided the only food they would see all day.

4. The Wall Street Crash of 1929 was one of the main causes of the Great Depression. “Black Thursday,” “Black Monday,” and “Black Tuesday” are all correct terms to describe the Crash because the initial crash occurred over several days, with Tuesday being the most devastating.

5. On “Black Tuesday,” October 29, 1929, the market lost $14 billion, making the loss for that week an astounding $30 billion. This was ten times more than the annual federal budget and far more than the U.S. had spent in WWI.e Thirty billion dollars would be equivalent to $377,587,032,770.41 today.

6. After the initial crash, there was a wave of suicides in the New York’s financial district. It is said that the clerks of one hotel even started asking new guests if they needed a room for sleeping or jumping.

7. The Dow Jones market peaked at 381 on September 3, 1929, and bottomed out at 42 in 1932, which is an amazing 89% decline. It did not reach 381 again until 23 years later in 1955 (that doesn’t include inflation losses).

8. Causes of the Great Depression are widely debated but typically include a weak banking system, overproduction, bursting credit bubble, the fact that farmers and industrial workers had not shared in the prosperity of the 1920s, and a government-held laissez faire policy.

9. One American sheep farmer found that he would not make money off of his sheep during the depression. Rather than watch his 3,000 sheep starve to death, he cut their throats and threw them in a canyon.

10. Dorothea Lange’s (1895-1965) famous photographs of migrant workers in California during the 1930s remain a moving pictorial record of the Great Depression.

*LBN-MY REVIEW: “I learn a lot of about the world and what is going on in it from LBN.”—–Lucy S., an LBN reader from Brasília, Brazil.

*LBN-NOTICED:   ***Paul McCartney enjoying some rare solitude while on a Sunday stroll through the hills of Coldwater Canyon in Beverly Hills.   ***Bradley Cooper and Irina Shaykseeing Broadway musical “American Psycho”.   ***Jared Letoand his 30 Seconds to Mars bandmates stopping by the Amazon Lounge at The Korakia during Coachella.   ***Joe Jonas and his band DNCE keeping hydrated in the Coachella desert heat with Essentia alkaline water.   ***Katie Holmes had a busy weekend celebrating daughter Suri’s birthday and working on the Tribeca fest film she directed, “All We Had.” Spies say Holmes threw Suri a 10th-birthday bash Saturday at Dave & Buster’s in NYC with treats from Georgetown Cupcake a night after the hard-working mom did a Q&A following her film’s premiere.

*LBN-R.I.P.:    ***The actress Doris Roberts, who played Ray Romano’s meddling mother in the television comedy “Everybody Loves Raymond,” has died, a family spokeswoman said. She was 90. The spokeswoman, Janet Daily, said that Ms. Roberts had died overnight Sunday in Los Angeles.   ***Bill Campbell, one of the most influential background players in Silicon Valley, who was known as “coach” there for his work advising technology industry stars like Steve Jobs at Apple and Larry Page at Google, died on Monday at his home in Palo Alto, Calif. He was 75. His family said the cause was cancer.

*LBN-COMMENTARY by Paul D’Angelo (Comedian): When I lived in Hollywood, I met a girl that was just like that Malibu Barbie doll. It wasn’t so much her looks, but she had plastic tits, her head was hollow, and there was absolutely no chance that I could ever get inside her.

*LBN-COMMENTARY by David Brooks: In 2009 the Nigerian writer Chimamanda Ngozi Adichie gave a fabulous TED talk called “The Danger of a Single Story.” It was about what happens when complex human beings and situations are reduced to a single narrative: when Africans, for example, are treated solely as pitiable poor, starving victims with flies on their faces. Her point was that each individual life contains a heterogeneous compilation of stories. If you reduce people to one, you’re taking away their humanity. American politics has always been prone to single storyism — candidates reducing complex issues to simple fables. This year the problem is acute because Donald Trump and Bernie Sanders are the giants of Single Storyism. They reduce pretty much all issues to the same single story: the alien invader story. Every problem can be solved by finding some corrupt or oppressive group to blame. If America is beset by wage stagnation it’s not because of intricate structural problems. It’s because of the criminal Mexicans sneaking across the border or it’s because of this evil entity called “the banks.”


*LBN-OVERHEARD:   ***The $21,000 monthly alimony checks David Hasselhoff continues to send ex-wife Pamela Bach is making it increasingly difficult for the actor to plan his retirement — which is why he’s decided to do something about it. The “Baywatch” star has filed legal documents asking a judge to cut off the payments. According to People, Hasselhoff, 63, has shelled out $2.3 million to Bach, 52, since their divorce in 2006. “I am 63 years of age, and am at an age when I should be preparing for retirement and not having to continue working in order to pay [Bach’s] support,” he said in the papers.

LBN E-Lert Edited By Marcelle Luna

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