From those that were there… (5)

A very fascinating story!

Pacific Paratrooper

American helmet, grenade rifle & flag taken by a Japanese photographer, April 1942

William Burton Clark – US Army, Staff Sergeant/ New Mexico National Guard/200th Coast Artillery

William Burton Clark

Mr. Clark was at Clark Airfield when the Japanese attacked 8 December 1941 manning his 3-inch antiaircraft gun and spent 33 months as a POW.  In his Veterans History Project audio, he gave a 92 minute interview.  He spoke of the attack of Pearl, as seen from the Philippines, appeared to be a conspiracy.  In his talk of the trek to San Fernando, “I went down on that march and 2 angels picked me up.  At the camp, a grave detail of 250 men worked every morning.”

Ralph Levenburg – from Clinton, Iowa – US Army Air Corps/17th Pursuit Squadron –

Ralph Levenberg

“When the surrender came on April 9, everyone accepted that as a relief – until it soaked…

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De Blasio slams Cuomo’s MTA plan as threat to ‘fiscal health’

Penney Vanderbilt and KC Jones: All About Railroads

NY Post

Gov. Cuomo’s plan to use a portion of a new city property tax aimed at helping the cash-strapped MTA pay for mass transit improvements would cost city taxpayers a whopping $290.2 billion over 35 years, the de Blasio administration warned Sunday.

“This proposal is only good for Andrew Cuomo,” said Jaclyn Rothenberg, a spokesperson for Mayor de Blasio. “He continues to usurp his power and find ways to beg, borrow and steal from New York City residents and subway riders.”

Under Cuomo’s “value capture” plan, the MTA would declare a “transportation-improvement district” within a mile of large subway or rail-service improvement projects and collect up to three quarters of the area’s subsequent increase in property-tax payments — all without the City Council’s approval.

City officials say the plan under consideration as part of state budge discussions could harm the city’s ability to adequately fund public safety, education and…

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WSJ: Shadow looms over GE Capital

Penney Vanderbilt and KC Jones: All About Railroads

Seeking Alpha

After a difficult year marred by a slumping share price and promises to jettison major units, General Electric (NYSE:GE) investors face another uncertainty: risks left over from the industrial giant’s once-massive lending business, WSJ reports.

“It is not fully known what residual risks GE retained when it dismantled GE Capital.” said Martin Sankey, a senior research analyst at Neuberger Berman. “The question becomes, does GE Capital have any value at all.”

In addition to legacy insurance policies, it has exposure to subprime U.S. mortgages and unusual financial products, including $3.1B in floating-rate Polish residential mortgages that are mostly denominated in Swiss francs.

Update: GE shares are now trading below $13, their lowest level since July 2009.

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