Obama, Soros create 'Palestine'

JERUSALEM – Inpartnershipwith agovernmentfund initiated by Barack Obama,philanthropist and billionaire activist George Soros is investing in a private equity company that just launched in the Palestinian territories.


The company, Siraj Fund Management Company, says it was created "for the sole purpose of managing investment funds in Palestine."


The new company's website repeatedly refers to what it calls the "country" of "Palestine." There is, however, no such country as Palestine. Siraj is apparently referring to territories controlled by the Palestinian Authority.

"Siraj has plans to launch future funds focused on the Palestinian market thereby contributing to the sustainable developmentof the country," states the website.


This marks the latest involvement of Soros in Middle Eastern affairs.
WND reportedlast week Soros has been funding groups pushing for democracy in Egypt and is associated with an opposition leader there who has been fueling protests toppling the regime of President Hosni Mubarak, a key U.S. ally in the region.


WND also reportedan international "crisis management" group led by Soros long has petitioned for the Egyptiangovernmentto normalize ties with the Muslim Brotherhood, the main opposition in Egypt.


This week, Siraj Fund Management Company, the first private equity fund in the Palestinian territories, officially launched in the West Bank city of Ramallah.


Soros' Economic Development Fund investedin the new group alongside the U.S.government-owned Overseas Private Investment Corporation, or OPIC.
OPIC is an independent agency of the USgovernmentthat mobilizes private sector investment in new and emerging markets overseas.

Read more:Obama, Soros create 'Palestine'http://www.wnd.com/?pageId=262077#ixzz1Df4j2XvA

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US Home Foreclosures Rise in January, More Seen

U.S. home foreclosures jumped 12 percent last month, but the sharp divide between states  suggests the industry remains backlogged by investigations into the foreclosure process.

According to a report from real estate data firm RealtyTrac, lenders foreclosed on 78,133 properties in January, up 12 percent from the month before, but down 11 percent from January a year ago.

Bank seizures at states with non-judicial foreclosure processes jumped 23 percent, while states with a judicial process saw a decrease of 7 percent.

"It suggests the system is still frozen up. We should have seen a much larger increase in both overall activity and bank repossession," said Rick Sharga, senior vice president at RealtyTrac.

"The numbers will inevitably go up, it's just a question of will it be sooner or will it be later."

The number of foreclosure filings, which includes default notices, scheduled auctions and bank repossessions, rose 1 percent to 261,333 in January. Compared to January last year, filings are down 17 percent.

The report also showed 1 in every 497 houses received a foreclosure filing during the month. Five states -- California, Florida, Michigan, Arizona and Illinois -- continued to account for more than half of all foreclosure filings.

California alone accounted for more than one quarter.

Nevada, Arizona and California also had the highest foreclosure rates. Nevada had the country's highest foreclosure rate for the forty-ninth month in a row. One in every 93 Nevada homes received a foreclosure filing in January, more than five times the national average, RealtyTrac said.

CNBC

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