The US Coast Guard is investigating reports that oil has started washing ashore on the Gulf Coast from a leaking offshore well.

Up to 5,000 barrels of oil a day are thought to be spilling into the water after last week's explosion on a BP-operated rig, which then sank.

President Barack Obama has pledged "every single available resource" to help.

The US navy has been deployed to help avert a looming environmental disaster.

The US Coast Guard said it had sent investigators to confirm whether crude oil had begun to wash up on parts of the Louisiana shoreline.

'Mind-boggling'

By LOUISE STORY and MICHAEL J. de la MERCED

AS NEWS spread that cigarette prices were on their way up, a tobacconist in St Marys saw a few more faces than usual.

''We really got busy'' in the afternoon, said the manager of the tobacconist Free Choice, Harshad Vekaria. ''People started knowing then.''

From midnight last night, the government increased tobacco taxes by 25 per cent, adding about $2.16 to a pack of 30 cigarettes.

Over four years the government expects this will generate an extra $5 billion, which it has pledged to invest in hospitals.

The head of the International Monetary Fund has warned that the crisis in Greece could spread throughout Europe.

Dominique Strauss-Kahn said that every day lost in resolving Greece's problems risks spreading the impact "far away".

World financial markets, recovering slightly on Wednesday, have been badly hit by fears of contagion from Greece.

http://news.bbc.co.uk/2/hi/business/8648029.stm

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The U.S. and Israel have been acting in tandem to extend and deepen the occupation.  In 2005, recognizing that it was pointless to subsidize a few thousand Israeli settlers in Gaza, who were appropriating substantial resources and protected by a large part of the Israeli army, the government of Ariel Sharon decided to move them to the much more valuable West Bank and Golan Heights.

from Crikey .....

Rudd's and Wong's response to the 'great moral challenge': CPRS into the deep freeze

Canberra correspondent Bernard Keane writes:

from Crikey .....

As a reminder of the unchastened status quo, Blankfein remains the gift that keeps on giving.

Chomsky, because he steps outside of every group and eschews all ideologies, has been crucial to American discourse for decades, from his work on the Vietnam War to his criticisms of the Obama administration. He stubbornly maintains his position as an iconoclast, one who distrusts power in any form.

Despite no involvement in terrorism, prisoners are subjected to horrific torture, abuse, and humiliating treatment as "unlawful enemy combatants" - now called "unprivileged enemy belligerents," defined as anyone (with or without evidence) suspected of "engag(ing) in (or materially supporting) hostilities against the United States or its coalition partners."

...

But for Goldman and other banks, a road map to the right ratings wasn’t enough. Analysts from the agencies were hired to help construct the deals.

In 2005, for instance, Goldman hired Shin Yukawa, a ratings expert at Fitch, who later worked with the bank’s mortgage unit to devise the Abacus investments.

Mr. Yukawa was prominent in the field. In February 2005, as Goldman was putting together some of the first of what would be 25 Abacus investments, he was on a panel moderated by Jonathan M. Egol, a Goldman worker, at a conference in Phoenix.