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Iran cracks down on student protests
Iranian security forces cracked down hard on students who came out in support of the opposition today as the regime sought to limit media coverage of another day of protests in Tehran and beyond.

Video footage that managed to evade official censorship showed crowds chanting “death to dictatorship” and making V for victory signs on the campus of Tehran University.

State media confirmed there had been trouble but blamed “rioters who were not students” clashing with police who surrounded the site. Reports mentioned police using teargas, batons and stun guns to beat back demonstrators.

Mowjcamp, a reformist website, said security forces had fired into the air to disperse crowds in Enqelab Square, in the centre of the capital. Clashes were reported in Vali Asr Square. Protesters taunted basij militiamen with bank-notes, suggesting their loyalty had been bought.

Russia’s Carbon Credit Bank Seen as Barrier to Warming Curb
Does Russia hold hostage the future of a carbon cap-and-trade system that many experts see as a critical tool for curbing global warming gases? Improbable as it may seem, the answer appears to be yes.

That is because Russia, as a result of the collapse of much of its heavy industry in the 1990s, owns one of the world’s largest stocks of credits to offset carbon emissions.

The unearned windfall, a legacy of the Kyoto Protocol that was the world’s first attempt to come to grips with the threat of climate change, is worth several billion dollars. If abruptly sold abroad, those credits could send the price of carbon on the world’s fragile emissions markets plunging toward zero.

Without a predictable and reasonably high price for carbon emissions, most economists say, there is little prospect of setting in motion the many investments needed to shift from a carbon-intensive industrial economy to a more sustainable energy base in developed and developing countries alike.

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2nd UPDATE: Venezuela Pres Says Top Ally Resigns On Bank Scandal
One of President Hugo Chavez’s top collaborators will resign from his post following the arrest of his brother as part of a brewing banking scandal.

Jesse Chacon, who currently serves as Science and Technology Minister, offered his resignation after his brother, Arne Chacon, turned himself in to the Venezuelan secret police on Saturday as part of a widening probe by prosecutors into the financial system.

Chavez moved Sunday to distance himself from the scandal and said that he had spoken directly with the government’s top prosecutor, Luisa Ortega, and requested that she move quickly to punish the people responsible with the failed banks.

Chavez also said that he told the Venezuelan secret police to swiftly imprison Arne Chacon, the president of Banco Real and Baninvest, which were seized by the government Friday.

Jesse Chacon will resign from his post because of the scandal, Chavez said during his weekly televised program.

“I’m very sorry that he is the brother of a minister, but we’re showing that no one here is untouchable,” he said.

Chavez said that he called the Venezuela secret police and told them that Arne Chacon “is the first one that I want to have arrested.”

Three executives from Banco Real CA, which was seized by the government Friday, are now behind bars, including Chacon, who headed the bank.

“How is it that Arne Chacon, who was born without anything, is now the president of a bank?,” Chavez said. “Our radars are failing,” he said.

Palin draws hundreds at Iowa book signing
Hundreds of fans of former vice presidential candidate Sarah Palin gathered at a bookstore in Sioux City, Iowa, waiting early Sunday morning for Palin to arrive and begin autographing copies of her book, “Going Rogue.”

A few camped in the parking lot overnight for the chance to be at the front of the line when the former Alaska governor entered at about 1:30 p.m., about an hour and a half later than scheduled.

Jennie Klatt of Spencer, Iowa, was among those who braved single-digit temperatures and the fierce winds that campers say tore through the area overnight.

“Sarah Palin is so courageous. She’s put her political career on the line so many times to take a principled stand,” said Klatt, who said that she wants Palin to run for president in 2012.

Michael Thompson of Council Bluffs, said he would like to see Palin start campaigning in Iowa. Thompson, who attended the State Tea Party Convention in Des Moines last month, stood in line Sunday to get an autograph – and to hand Palin a couple of letters.

I counted 27 pairs of Ugg boots in my walk from my car at the farthest point on campus to my office. Why? I wonder, I really do. It looks like it’s going to rain, so the best thing to wear would be big suede boots, right? I have to say how much I hate these shoes. They make a grating sound when the wearer drags her feet, to me something kin to fingernails on a chalkboard (actually worse than the fingernails scenario). They smell when wet — I know this from classes full of Ugg boots worn in wet and slowly drying off. They smell like wet animal and feet. I know they must be very soft to wear, but are they durable? Why does everyone love them so much? Why is it important to wear what everyone else is wearing?

Maybe I’ve gotten too old to think about it much. Lately what to wear the next day is usually influenced by whether I will have to iron anything. I wear jeans as often as I think I can get away with doing, and that’s probably 3 times more often than I should. I like bright colors, and I realize that sometimes I wear clashing things, but I try not to. I don’t shop much, outside of either Internet sales or the occasional thrift store visit and I finally got a new pair of Dansko clogs after wearing my first pair for nearly 10 years, which wore down the soles and even the staples holding the leather to the sole were coming out. I’m just not all that fashionable — I like pretty colors and comfort. I only dress up when I really have to. I’m dangerous in heels — I think I carry them off better after a couple of drinks.

Bank failure tally reaches 130
The nation’s tally of 2009 bank casualties hit 130 Friday when regulators shuttered a large Ohio bank, an Illinois bank, a Virginia bank and three small Georgia banks.

The largest bank to fail was AmTrust Bank in Cleveland.

Regulators also closed Benchmark Bank in Aurora, Ill., and Greater Atlantic Bank in Reston, Va.

The Buckhead Community Bank in Atlanta, Ga., First Security National Bank in Norcross, Ga., The Tattnall Bank in Reidsville, Ga., were also closed.

Customers of all the six failed banks are protected, however. The Federal Deposit Insurance Corp., which has insured bank deposits since the Great Depression, currently covers customer accounts up to $250,000.

AmTrust Bank. The Office of Thrift Supervision closed AmTrust Bank because it “was in an unsafe and unsound condition because of substantial loan losses, deteriorating asset quality, and insufficient capital.”

A Jobs Sigh of Relief
The November jobs report was greeted yesterday with smiles and sighs of relief, which speaks volumes about how rotten the job market has been for a long time. Only 11,000 lost jobs! Praise heaven.

The report is hopeful if not yet happy news, in that it shows employment finally catching up with the economic recovery that has been building since the summer. Economic expansions always lead to some job creation, especially when the downturn and layoffs have been as steep as what the U.S. has endured in the last year.

The surprise so far has been how long it has taken the job market to come around—surprising especially to a White House that predicted a jobless rate peak of 8% if the $787 billion spending stimulus passed. President Obama called yesterday’s report the best since 2007, which is true but is also like saying that this is the most tasteful season so far of “Keeping Up with the Kardashians.”

The report’s details suggest that job growth will finally arrive in future months. The average work week climbed to 33.2 hours from 33.0, which means more workers are being hired back to full-time status. The jobless rate—which is determined by the household survey, rather than the business establishment survey—fell to 10%, from 10.2%. And the household survey, which measures more small businesses and home entrepreneurs, showed a gain of 227,000 jobs. In the early stages of the 2003 recovery, this measure proved to be a better indicator of future job-market strength than did the lagging establishment report.

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