Super-PAC debuts pro-Fiorina documentary – By Jonathan Swan – 09/22/15 08:46 PM EDT

Carly Fiorina’s super-PAC is now in the movie business.

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The outside spending group CARLY for America – which is not legally allowed to coordinate with Fiorina’s presidential campaign but can spend millions on her behalf – hosted Fiorina’s family, roughly 100 supporters and more than a dozen journalists at the Arlington Cinema & Drafthouse for the debut screening of “Citizen Carly,” a documentary that doubles as an hour-long campaign commercial.

The hagiographic film begins and is salted throughout with testimonials from friends and former colleagues of Fiorina’s. Fiorina, they say, is “indefatigable,” “enormously compassionate,” always “standing up for the little people.” Hers is a “classic American story.” As the testimonies are told, large words circle in the background: “strength,” “leader,” “compassion.”

But the film is also intimate, sometimes surprisingly so. Sitting on a chair beside her husband Frank, Carly’s voice breaks as she recalls the 2009 death of their daughter due to drug addiction. “Her poor little body. She was always a little girl. I think it just gave out,” Fiorina said. She said her “personal relationship with Jesus Christ” saved her.

The section of the film that deals with Fiorina’s cancer diagnosis shows a photograph of her, bald-headed and incapacitated, on a hospital bed. Another scene tells the story of Fiorina sobbing in a restroom on her 40th birthday when she realizes she won’t have a biological child of her own.

Much of the documentary is dedicated to answering questions about Fiorina’s business career, particularly her controversial six years as CEO of Hewlett-Packard. Former board members sympathetic to Fiorina, including vocal media supporter Tom Perkins, said it was the board and not her that was to blame for HP’s troubles during that period.


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Don’t get comfortable! – Henry Blodget Sept 12 2015

stock market crash 1929

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After some gut-wrenching volatility in August, global markets have settled down in the past couple of weeks.

They have also rebounded nicely off the August lows.

As markets have calmed, the debate about whether we’re in the early stages of a full-on crash has quieted.

But don’t get too comfortable.

This is still an open question.

At times like these, it’s helpful to get a historical perspective.

And what you find when you do that is that no one who is concerned about a crash should take comfort in the market’s recent stabilization.


Because market crashes take time.

The market’s recovery from the August lows might, in fact, be a “buying opportunity” that is the beginning of another surge to record highs.

But it also might be one of those bear-market rallies that have punctuated nearly every major market collapse in history.

The charts below, from portfolio manager John Hussman of the Hussman Funds,* illustrate this phenomenon.

The charts show how the last three major market crashes were preceded by initial drops of 10% to 15% followed by sharp rebounds like the one we’re experiencing right now. These rallies seemed comforting and encouraging at the time. But then, just as many traders had decided it was safe to get back in the water, the real crash began.

First, 1987. In 1987, stocks peaked in August and then sold off sharply. Then they began a rally that, by early October, had recovered almost all of the losses. The top chart shows this rally, which was presumably quite comforting to traders at the time. The bottom chart shows what happened next.

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Security News This Week: Oh Good, the Weaponized Police Drones Are Here – YAEL GRAUER. 29.15. 08.2 AM

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We’re still feeling the ripple effect from the Ashley Madison hack this week. Not only is its parent company, Avid Life Media, offering a $500K CDN reward for info on the hackers, and not only are the lawsuits rolling in, but on Friday CEO Noel Bidermen stepped down. The world’s biggest online drug marketplace Agora is on hiatus following suspicious activity that its moderators think was intended to deanonymize the site.  The UN’s newly appointed privacy chief described the UK’s digital surveillance as worse than 1984. Meanwhile, a U.S. appellate court ruled that the Federal Trade Commission can regulate and fine companies for getting hacked, so long as they engaged in unfair or deceptive business practices, such as publishing a privacy policy and failing to make good on it.

But there’s more. Each week we round up the news stories that we didn’t break or cover in depth at WIRED, but which deserve your attention nonetheless. As always, click on the headlines to read the full story in each link posted, and stay safe out there!

Militarized Drones Are Now Legal In North Dakota

Police in North Dakota can now legally fly militarized drones armed with tasers, tear gas, rubber bullets, pepper spray, or sound cannons, thanks to the passage of House Bill 1328. The bill was originally meant to require police officers to obtain a search warrant in order to use the drones for criminal evidence, and would have banned the use of all weapons on drones (not just the lethal ones), but then a lobbyist made some changes. A compliance committee is supposed to track and review police use of drones and keep it in check, but the group has no legal authority—and its members aren’t exactly unbiased. “Of the committee’s 18 members, six are from UND, which has a vested interest in promoting drone use. Three are members of local government, including the city planner and an assistant state’s attorney. And the rest are either current or former members of law enforcement and emergency services,” the Daily Beast’s Justin Glawe writes.

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Wall Street rattles Washington – By Peter Schroeder – 08/24/15 04:52 PM EDT

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The stock market closed a wild Monday with the Dow Jones industrial average down over 500 points, setting off fresh fears about the health of the global economy.

The Wall Street drama quickly spread to the 2016 campaign trail and Washington, as flashbacks to the 2008 financial crisis drew responses from the political world.

Renewed concern about the strength of China’s economy kicked off a brutal opening, as the Dow opened down more than 1,000 points in the first minutes of trading. While the index largely erased those gains later in the day, it still ended Monday down 588 points, adding to large losses suffered the two days prior.

The turbulent day on Wall Street grabbed the attention of several presidential candidates, who cast blame far and wide. Meanwhile, the White House sought to draw a distinction between the headlines flying out of financial markets, and the underlying U.S. economy.

White House press secretary Josh Earnest emphasized Monday the “ongoing strength and resilience of the U.S. economy” amid the sell-off. The administration pointed to the steadily falling unemployment rate and solid economic data as signs that the U.S. economy was durable enough to survive “increased volatility overseas.”

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Dozens Nabbed in Takedown of Cybercrime Forum Darkode – KIM ZETTER. 07.15.15. 4:48 PM

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More than 70 people have been arrested around the world in the takedown of one of the most active underground cybercrime web forums, according to authorities.

Darkode, which had been in operation since 2007, was an online marketplace catering to cybercriminals buying and selling hacking tools, zero-day exploits, ransomware, stolen credit card numbers and other banking data, as well as spamming and botnet services, before authorities seized it this week.

Darkode represented one of the gravest threats to the integrity of data on computers in the United States and around the world. US Attorney David Hickton

“Of the roughly 800 criminal Internet forums worldwide, Darkode represented one of the gravest threats to the integrity of data on computers in the United States and around the world and was the most sophisticated English-speaking forum for criminal computer hackers in the world,” US Attorney David Hickton said in a statement. “Through this operation, we have dismantled a cyber hornets’ nest of criminal hackers which was believed by many, including the hackers themselves, to be impenetrable.”

The crackdown, dubbed Operation Shrouded Horizon by the FBI, was initiated two years ago by that agency’s Pittsburgh, Pennsylvania, office but eventually included Europol and law enforcement agencies in more than 20 countries.

So far at least 12 people have been arrested in the US, and another 28 are known to have been arrested on Tuesday in Denmark, Germany, India, Israel, Romania, Sweden, and the UK.

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Trump rides momentum to Arizona – By Mark Hensch – 07/11/15 06:00 AM EDT

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After weeks of criticism — and rising poll numbers — in the wake of controversial remarks on immigration, Donald Trump brings his spotlight to Arizona, a longtime hotbed of border security debate.

The Republican presidential candidate is joining forces at a rally Saturday afternoon with Maricopa County Sheriff Joe Arpaio, an immigration hardliner who has said illegal aliens in his jurisdiction can expect a “free ride to jail.”

The event shows Trump has no intent of softening his rhetoric, which is unnerving Republicans even as the outspoken billionaire has gone sky-high in the polls.

The GOP establishment is worried that Trump will hurt it, but the business mogul is also sounding a note that some grassroots Republicans want to hear.

“Trump’s touched more than a nerve. He’s connected to a zeitgeist,” Steve Deace, a conservative radio host, told The Hill of Trump’s resonance with right-wing voters.

“[His immigration stance] is not always eloquently worded, but it is the spirit of what most of the GOP base actually thinks,” he added.

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Inside the GOP’s budget drama – By Bernie Becker and Vicki Needham – 03/20/15 06:00 AM EDT

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House Majority Whip Steve Scalise (R-La.) had wanted to avoid any embarrassing snafus when the new GOP budget hit the floor.

Instead, he found trouble a week early.

Scalise and GOP leaders found themselves on their heels late Wednesday evening, after Budget Chairman Tom Price’s (R-Ga.) first budget markup screeched to a sudden and unexpected halt.

Lawmakers filed out of the hearing room, going behind closed doors to talk over provision that would allow more defense spending to add to the deficit.

Scalise and his chief deputy, Rep. Patrick McHenry (R-N.C.), had canvassed Budget Committee Republicans and thought the provision would help win over defense hawks, securing enough votes for the budget to clear both the panel and the full House next week

Price, meanwhile, had been insisting that there wasn’t enough GOP support to pass the amendment eventually offered by Rep. Todd Rokita (R-Ind.).

As it turned out, the amendment failed despite the intervention of House Majority Leader Kevin McCarthy (R-Calif.), who wasn’t able to sway a handful of skeptical deficit hawks.

The late-night drama raised more questions about the vote-counting skills of Scalise — who this time had trouble not with the 218 votes needed to get a bill through the House, but the 19 needed to ensure the budget passed through committee.