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Tuesday May 23, 2006 Edition
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Top Stories for Tuesday May 23, 2006

Americans May Have To Add “Derivatives” To Their Vocabulary
By Ed Barna
    Do you remember the savings and loan crisis, where the failure of banks that had engaged in dubious financial practices brought a Congressional bailout so the infection could be stopped from threatening the whole economic system?
    Do you remember the concern in 1998 about the failure of a “hedge fund” that has made the wrong speculations, and because of its size threatened to set off a chain of negative consequences?
    Don’t be surprised if those historical examples get mentioned again in press reports, to help give some perspective on the effects of speculation in derivatives--especially if they threaten to bring down this country’s whole debt-built house of economic cards. (If the word “derivatives” draws a blank, go to paragraph 11.)  [ more ]

Steven Oxholm Will Speak at the Vergennes Memorial Day Parade

    Vergennes Memorial Day officials looked to one of their own this year to deliver the Memorial day address. United States Navy Commander Steven M. Oxholm will be the speaker at the Memorial Day Services at the Vergennes city Park immediately following the annual Memorial Day Parade.
    Commander Oxholm graduated from Vergennes Union High School in 1981. He attended St. louis University graduating with a Bachelor of science degree in Aeronautics in 1985, earned a Master’s Degree in Aeronautical Science from Embry Riddle Aeronautical University in 1999 and completed Joint Professional Military Education Phase one through the Air Force air command and Staff College in 2000.
  [ more ]

Breaking The Bank
By Mike Cameron
Demolition of the old National Bank of Middlebury “Drive-up” on Seymour St. was over in a matter of hours. A new facility will take its place. Meanwhile a temporary modular unit will service customers until the new building is complete.  [ more ]

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