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Welch calls on SEC to recoup taxpayer funds from alleged Goldman Sachs fraud

first_imgUS Representative Peter Welch on Monday called on the Securities and Exchange Commission to expand its investigation into allegedly fraudulent securities sold by Goldman Sachs to determine whether the federal government can recoup bank rescue funds.In a letter to SEC Chairwoman Mary Schapiro, Welch joined Reps. Peter DeFazio (D-Ore.) and Elijah Cummings (D-Md.) in asking the SEC to determine whether taxpayer support received by the American International Group (AIG) was transferred to Goldman to cover fraudulent activities.On Friday the SEC filed a civil suit against Goldman alleging the firm misled investors by failing to disclose that one of 25 collateralized debt obligations (CDOs) sold by the firm was designed to fail. Seven similar CDOs were guaranteed by credit default swaps from AIG. Of the $180 billion AIG received in taxpayer assistance, $12.9 billion was transferred to Goldman to settle the bad credit default swaps.In the letter to the SEC, Welch and his colleagues seek to determine whether the investments covered by AIG – and, by extension, taxpayers – were also fraudulent.“The cynicism of Goldman Sachs using taxpayer funds to cover its own fraudulent activities would be breathtaking,” Welch said. “The SEC must turn over every stone to determine the extent of the fraud and recoup taxpayer money.”The letter is copied below:The Honorable Mary SchapiroChairwomanU.S. Securities and Exchange Commission100 F St. NEWashington, DC 20549Dear Chairwoman Schapiro:Thank you for your continued efforts to restore the role of the Securities and Exchange Commission (SEC), “to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.” The SEC announcement of civil securities fraud charges against Goldman Sachs and Fabrice Tourre is welcome news to both investors and the taxpayers who bailed out Wall Street.   The failure of the Bush administration to enforce these laws ultimately undermined the financial markets and contributed to the economic turmoil of the last three years.As you know, the SEC complaint makes disturbing allegations of fraud against Goldman Sachs. The SEC has alleged that Goldman Sachs enticed investors into long positions in a synthetic collateralized debt obligation (CDO), while unbeknownst to investors the CDO was specifically designed by hedge fund manager John Paulson to generate losses for short positions taken by Paulson and Goldman Sach’s proprietary accounts.  We are grateful that the SEC is seeking a court order for Goldman Sachs “to disgorge all illegal profits that they obtained as a result of their fraudulent misconduct.”  The U.S. taxpayer deserves nothing more.The complaint is based on a single CDO known as ABACUS 2007-AC1. However, the ABACUS 2007-AC1 offering was part of a series of 25 such CDOs, all arranged by Goldman Sachs. It is not beyond the realm of comprehension that the 24 remaining ABACUS transactions included similar materially misleading statements to investors in order to protect Goldman’s internal proprietary bets, or other coveted counterparties like Mr. Paulson.Seven of the ABACUS CDOs were guaranteed by credit default swaps from the American International Group (AIG).  These seven AIG-insured CDOs contributed to billions of dollars in losses at AIG according to the New York Times.Should any of these transactions be found to include fraudulent conduct, any resulting contractual payments from AIG-issued credit default swaps could be viewed as ill-gotten gains. In light of the U.S. Treasury and Federal Reserve Bank of New York’s extensive and unprecedented support of the insurance giant and the $12.9 billion in taxpayer dollars that AIG transferred to Goldman Sachs to settle the bad credit default swaps, it is imperative that the SEC pursue the recovery from Goldman Sachs of any fraudulently obtained AIG payments.Accordingly, we request that SEC, with all due haste, pursue investigations into the remaining 24 ABACUS transactions for securities fraud, evaluate the extent of any receipt, by Goldman Sachs, of fraudulently-generated AIG-issued credit default swap payments, and vigorously pursue the recovery of such payments on behalf of the U.S. taxpayer. Finally, should this or any subsequent investigation uncover criminal misconduct, we implore you to refer those matters to the Department of Justice for the appropriate prosecution.Again, we appreciate the enforcement efforts of the SEC, and look forward to monitoring the progression of this landmark case.Sincerely,          Peter DeFazio                    Elijah Cummings                 Peter WelchMember of Congress           Member of Congress           Member of Congress Source: Welch’s office. 4.19.2010# # #last_img read more

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Australian solar facility gets Tesla battery retrofit

first_img FacebookTwitterLinkedInEmailPrint分享Clean Technica:A 25 MW/50 MWh Tesla grid-scale battery was commissioned this week at the 60 MW Gannawarra solar power plant north of Melbourne in the Australian state of Victoria.This makes the Gannawarra facility the largest in the country to be retrofitted with a storage battery. Last month, installation of a 30 MW/30 MWh battery at the Ballarat power station in Victoria was completed. That battery is expected to begin operations before next summer.The battery is owned by Australia’s renewables developer Edify Energy and Germany’s Wirsol and operated by EnergyAustralia under a long-term power purchase agreement, according to PV Magazine. Both batteries were paid for by a $50 million grant from the Australian Renewable Energy Agency and the government of Victoria, with each contributing $25 million.Although it was completed ahead of schedule, Edify Energy and Wirsol say that they had to overcome some unique regulatory and technical challenges to deliver the first battery storage system retrofitted to an existing solar farm. While the Australian government dithers and diddles about moving away from coal and toward renewables, the Australian states are filling the policy void and creating new commercial models for renewable energy and storage facilities in Australia.Asking people to change their behavior for a good social purpose seldom gets very far. Asking people to change their behavior to save money works a whole lot better. That’s what’s happening in Victoria today as well as in South Australia, Queensland, New South Wales, the Northern Territories, and Western Australia. The toothless, muddle-headed national government has made itself irrelevant to energy policy in Australia, proving once again that money is more important than ideology every time.More: 50 MWh Tesla battery commissioned at Australian solar power plant Australian solar facility gets Tesla battery retrofitlast_img read more

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Trail Mix – Andrew Alli

first_imgI first learned of Andrew Alli’s music late last summer.Andrew and his musical compadre, Josh Small, were a part of a contingent of musicians from Virginia who traveled to the United Kingdom to perform at the Long Road Music Festival. I was blown away at first listen and began scheming as to when and how I could see him live.Last month, I was lucky enough to host Andrew and Josh for a listening room show here in Wise.It was an incredible evening of music.The energy in the music that this duo is able to create with just a harmonica and acoustic guitar is palpable. Alli’s blues harp combines effortlessly with Small’s jazz-inflected guitar playing. The crowd gathered here was wowed for sure.Andrew Alli and Josh Small recently released a self-titled EP featuring six tracks that prove the spirit of the blues lives and breathes still.I recently caught up with Andrew to chat about the blues, playing the harmonica, and his day job in trail maintenance at James River Park in Richmond, Virginia.BRO – What got you into playing the blues?AA – Well, I technically found the harmonica before I got into the blues. Ten years ago, when I was in college, I was inspired by a guy who was playing harp on the street. That day I went to the store and bought a cheap harp and instantly fell in love with it. Shortly after that, I discovered all of the legendary blues harp players and the rest is history.BRO – Who is on your Mt. Rushmore of harp players?AA – That’s easy. Big Walter Horton, Little Walter, Sonny Boy Williamson II, and George Harmonica Smith.BRO – Best part about playing music with Josh Small?AA – Josh and I have been playing together so long that we anticipate where the other is going. He’s also just a real down to Earth and easy going friend with great musical taste.BRO – We are featuring “My Stomp” on this month’s Trail Mix. What’s the story behind the song?AA – I wrote this song a while ago when I was a bit younger and playing out with other bands. I would often be questioned about my place in the blues community being so young. I feel that the blues is nothing but a feeling and experience. “My Stomp” tells a bit of my story and relationship with what we call the blues.BRO – Plan a great day in James River Park for me.AA – I would start the morning with a nice mountain bike ride on the North Bank and Buttermilk Loop Trail. After that, it’s down the river for a canoe trip to Williams Island to pick freshly ripened paw paws. Finally, we would hit the Texas Beach rocks for some swimming and a beverage and watch the sunset.You can catch Andrew Alli and Josh Small live at Hardywood Craft Brewery in Richmond later this month and in early February.For more information on Andrew Alli, when you can catch him live with Josh Small, and how you can get a copy of the new EP, check out his website.And be sure to take a listen to “My Stomp,” along with brand new tracks from Pierce Pettis, Melody Guy, and Amelia White on this month’s Trail Mix.last_img read more

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Business development from a distance

first_img 23SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Julie R Ferguson Founded by Julie R Ferguson in 2009, JRF Consulting concentrates on growth and member engagement. Julie is very passionate about helping credit unions create and execute focused and results oriented … Web: www.jrfconsultingservices.com Details We business development professionals thrive on interacting, helping people face to face, being in our communities and at our SEGs. But now, during these unprecedented times, we are being challenged to rethink our approach to business as usual. Fortunately, we are problem solvers. As servant leaders within our communities, now, is when we, as credit unions, are needed most. It’s time for action. Here are a few ways we can change it up to continue delivering the service and solutions members need.Be the turnkey solution for Human Resources at your SEGs. They are in unchartered territory and their time and priorities for now, will constantly be shifting. Our communication needs to be easy for them to share.Provide relevant content that can be easily distributed through the SEGs communication channel (Intranet, email etc.) to all their employees. Lead with education that addresses employees’ most pressing concerns and how you can help. A few ideas to consider include:Skip-a-pay on loansInformation on the safest way for employees to access moneyWaive feesSpecial low rate loans to help those in needFinancial wellness workshops via webinar such as Coronavirus and Your Money, What You Need to Know or Top Financial Moves to Make During a Pandemic etc.If you don’t have videoconferencing capabilities – sign up for Zoom or a similar service. Pronto. This is a way your business development team can interact with members if working from home. Videoconferencing allows your team to provide the personal face to face time members need now for answers and reassurance. Send your SEGs information they can share about videoconference options. Members are filled with anxiety and financial stress, be there for them, including, if necessary, during evening hours. According to Prudential Financial, 54% of Americans report not being financially prepared to manage a contagious disease outbreak that furloughs them for several weeks. How can we ease that for them?Help your community. Collaborate and support small businesses in your community. Be creative. We are all in this together. Call local stores and brainstorm partnership opportunities that can be mutually beneficial. Maybe they would be willing to offer your members a discount, or your credit union could buy and distribute gift cards from them in bulk that members can use to purchase items online. To help your favorite eatery, maybe your credit union can sponsor DoorDash or UberEats delivery charges that could be waived for members. Families relying on meals from schools will be struggling. Donate or coordinate with food banks to help families in need when schools are closed. Talk to schools about either fundraising or donating much needed laptops or tablets for remote learning. These are high value activities business development can spearhead. Think outside of the box in finding solutions that will help the people in your communities get through this. Share ideas on your website members need right now like: 5 free ways to entertain your family while at home, How to supplement your income, Scams to avoid, etc.We are all servant leaders in our credit union movement. At times like this we must be creative and find new ways to engage. It’s not enough to rely only on our normal channel of email communication directly to our members. Our reach needs to be bigger, broader, and encompass more people within our communities. Let’s show everyone how we live the credit union difference, especially in these challenging times.last_img read more

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Jakarta’s poor at risk as city drags feet on COVID-19 social assistance

first_imgBut with an additional 2.6 million recipients added to the tally, Anies said the administration would require approximately 10 days to complete their credentials – another massive undertaking.“Not all of them have a Jakarta identity card. Some are not even registered as beneficiaries of the social assistance program,” he said, adding that the administration would use data it had been collecting through the One Jakarta program, which employs the Family Welfare Movement (PKK) to collect household data.Meanwhile, the Social Affairs Ministry’s director general for social empowerment, Pepen Nazarudin, said the ministry was still waiting on the details of the beneficiaries.“The Jakarta administration is to inform us about the data before we will review it. We’ll convey the data to the President as soon as possible,” Pepen told The Jakarta Post.The disbursement mechanism remains unclear but Pepen insisted it would abide by the physical distancing rules mandated by the government, hopeful of avoiding the rush and the long lines that often come with the distribution of staple food packages.Flora Aninditya, a researcher at the University of Indonesia Economics and Business School’s Demographics Institute, emphasized that while speeding up the collection of data was important, the safety of the officers should be of utmost importance during an outbreak.“There should be a protocol to ensure the safety of data collectors who go out into the field, while operational incentives like covered transportation costs or phone credits should also be provided,” she told the Post on Friday.Read also: Indonesia’s strategy to combat COVID-19: What we know so farSeparately, Foundation of the Indonesian Legal Aid Institute (YLBHI) chairwoman Asfinawati deplored the Jakarta government’s “late” decision to set up a social safety net one month after the first COVID-19 infection was confirmed in the capital.She claimed that many people had lost income and could potentially fall deeper into poverty due to the government’s failure to identify risks and prepare mitigation strategies before measures to curb the spread of the virus were put in place.“The risks should have been identified well in advance,” she said.Jakarta RT/RW Forum chairman Muhammad Irsyad said he was worried that low-income groups would no longer heed the government’s call to stay indoors as uncertainty over their basic needs are thrown into doubt.“Though I’ve seen residents obey the call [for physical distancing] for the past two weeks, they will eventually want to go out to find ways [to make money],” he said. “But residents may feel more at ease if they know it [social assistance] is available.”The severity of the COVID-19 outbreak in the capital has triggered an outpouring of solidarity from individuals, community organizations, companies and government agencies that have gathered donations for the poor and provided protective gear for medical workers on the frontline.Meanwhile, communities in Jakarta’s slums have reportedly begun producing their own antiseptic liquid for local use.“These are truly very good initiatives to have as a nation, but they could also be seen as a corrective measure to make up for the failure of the state,” Asfinawati said.Wahyudi Djafar, deputy director of the Institute for Policy Research and Advocacy (ELSAM), said that collective efforts to handle the outbreak should always be led by the government.“The government should have been able to produce a map for people to track, for instance, where there is a shortage of protective equipment, so donations and other resources can be equally distributed,” he said.Jakarta, currently the country’s epicenter of the COVID-19 outbreak, had reported 958 confirmed cases and 96 deaths as of Friday afternoon.Topics : Fast forward to Thursday, at a teleconference meeting with Vice President Ma’ruf Amin, Anies announced that the number of beneficiaries had jumped to 3.7 million people due to a greater share of the population, comprising poor and vulnerable groups, dropping deeper into poverty.“They [people in the vulnerable bracket] still earn a living, but once the economy contracts, they will have lost all of their income,” he said, pointing to street vendors and ojek (motorcycle taxi) drivers as prime examples of this group.Read also: 70 million informal workers most vulnerable during pandemicThe governor has revealed that beneficiaries would be receiving Rp 1 million (US$60.45) in subsidies per household per month for April and May. The Social Affairs Ministry, which is set to allocate Rp. 4.57 trillion to the social assistance program, would be footing a larger chunk of each subsidy of Rp 880,000, while the remainder will be taken out of the city’s budget. The Jakarta administration’s sluggish delivery of crucial social assistance funds in response to the COVID-19 outbreak is putting the city’s underprivileged citizens at a higher risk of slipping into destitution the longer the crisis stretches on.On March 20, five days after the city started closing down schools and tourist destinations to curb the spread of the disease, Jakarta Governor Anies Baswedan said that the administration would be disbursing social assistance to 1.1 million registered beneficiaries.At the time, Jakarta officials were still formulating the amount and method of disbursement.last_img read more

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With one year to go, experts warn of high-risk Tokyo Olympics amid pandemic

first_imgTopics : Although Tokyo on Thursday confirmed 224 new infections, a record high for a single day, Japan has largely avoided the disastrous effects seen in other countries.That has scientists and medical experts concerned about how things might look next summer, a year after the Tokyo Games were postponed.In interviews with a dozen infectious diseases experts, a common theme emerged: the Olympics would increase the risk of an outbreak.”Infection will flare up if we push ahead with the Olympics and hold them. There is no doubt about it,” said Daiichi Morii, a doctor at Osaka University Hospital’s infection control team. “The virus is barely under control as we are putting a halt on the inflow of people from overseas,” Morii added. “With events like the Olympics, the virus will come in for sure and the number of infections will shoot up inevitably.”Japan’s success in containing the virus is part of the reason. A recent government survey showed only 0.1% of Tokyo residents have coronavirus antibodies. That is much lower than 14% in the state of New York in April, and 7% in Stockholm.”Very few are infected in Japan and pretty much everyone is susceptible,” said Katsunori Yanagihara, professor in Nagasaki University’s school of tropical medicine and global health.Antibodies help fight off infections, and scientists say having antibodies for the coronavirus might provide protection against re-infection.There are more than 100 potential vaccines in development, but experts say none will likely be available in enough quantity in time for the Olympics, which involves about 200 countries.”Even if a vaccine has been developed by then, it’s near impossible for it to go around the world,” said Atsuo Hamada, a professor at Tokyo Medical University Hospital.A Tokyo voter survey by the Asahi Shimbun daily late last month showed that 59 percent of those polled believe the Olympics should be cancelled or postponed again, underscoring the public’s nagging worries about the pandemic.In a bid to address such concerns, Yoshiro Mori, head of the Tokyo Olympic organising committee, on Monday told the capital’s governor, Yuriko Koike, that he planned to set up a task force with the central and metropolitan governments by September.In the meeting, they discussed infection screening for foreign visitors and limiting crowd sizes, public broadcaster NHK reported.Japan has had only about 20,000 cases and 980 deaths. Researchers have cited various factors for those low numbers, from the nation’s robust healthcare system to infrequent hugging and handshaking. But they say there is no clear single reason for the country’s success.Norio Sugaya, a member of the World Health Organization’s influenza panel, said people in Japan should not feel secure just because of the relatively small scale of infections and deaths there so far.”Talks about how Japan has ridden out the first wave successfully. Talks about ‘Japan miracle’. Those make me very worried,” Sugaya said. “It’s terrifying if there are people out there who believe Japan is invincible.”center_img With just over a year to go until the Tokyo Olympics, medical experts say the event could pose a grave health risk to the Japanese public, predicting that few people will have coronavirus antibodies and that vaccines will not be widely available.Olympic organizers and the Japanese and Tokyo metropolitan governments are scrambling for steps to prevent the pandemic from derailing the event. But they say concrete plans are unlikely to shape up before the end of this year.The global death toll from COVID-19, the respiratory illness caused by the new coronavirus, reached half a million late last month, and cases topped 10 million.last_img read more

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Finance

first_imgDenmark: The European Commission has granted a DKr1·6bn loan to Øresundskonsortiet and A/S Øresund.France: The Ministry of Transport is to invest Fr350m in intermodal freight development during 1997, with SNCF receiving Fr300m to improve services and Fr50m to upgrade terminals. State funding of Fr96m has been provided for a new terminal at Hourcade, on the southern outskirts of Bordeaux, which is scheduled to open in 2001. India: Konkan Railway Corp is planning to raise $150m through a syndicated term loan on the international market; much of this will be used to repay earlier higher-cost loans.Japan: On April 11 JR Central made advance application for stock listing on the Nagoya, Tokyo, Osaka and Kyoto exchanges; Nikko Securities has been appointed to supervise the proposed public stock offering in October in place of Nomura Securities.Latvia: LDZ has announced a US$350m five-year investment plan; infrastructure upgrading will account for 75% of the total expenditure.Lithuania: LG has secured a further Ecu40m loan from the European Investment Bank, which will be used to fund modernisation of signalling and telecommunications on the 125 km Kaisiadorys – Radviliskis line, and to buy five locos.last_img read more

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Anna Werner

first_imgAnna Werner, 93 years old, of St. Leon, IN passed away peacefully January 14, surrounded by family. The legacy for this family began when Al was visiting his uncle at Margaret Mary Hospital and his nurse, Anna, caught Al’s eye. Home on leave from the Army, Al had lunch in the hospital cafeteria with a few of his friends, including Anna, whom he did not know at that point. Taken by her charm, Al began writing to Anna when he was redeployed to Europe. Married on July 21, 1954, Anna & Al celebrated their 65th wedding anniversary last year. An orphan with no known siblings and adopted around 5 or 6 years old, Anna wanted a large family. Having seven children in eight years, she was blessed to raise a big family. A doting mother, Anna would get up at 4:00 in the morning to make the kids a hot breakfast every day and fried chicken for them to take to school. Not quite understanding how good they had it at the time, the children now joke that they wanted cold cereal because that’s what all their friends had for breakfast. Anna was always helping her children with their 4-H projects, often staying up late to finish them. She once rescued three black & white Hampshire pigs during the freezing cold that were born on their farm. She brought them in from the cold and put them in the oven to warm them up, accidently singeing the edges of their ears. As any good mother would do, she bottle fed them and raised them as her pets. Anna loved to explore her artistic talents. She painted scenery with acrylic oil paint and made ceramics. She enjoyed playing the piano and organ at St. Joseph’s Catholic Church in St. Leon and played for many weddings. She also like to play the accordion. Another talent was her green thumb and she could easily turn weeds into a beautiful garden. Anna enjoyed riding her bike and did so until her late 80’s when her doctor advised her that it might not be a good idea as he feared her falling. Although she stopped riding, it wasn’t because she thought she would break any bones if she ever fell. Her kids believe she had the strongest bones because of her love for milk. Her bones were strong, her nails grew quickly and she had beautiful skin. Another of her loves was pancakes which she could eat for days.Anna will be greatly missed by her husband, Al, and their children Anthony (Ty) of St. Leon, Art (Lynne) of St. Leon, Rick (Brenda) of Sunman, Anita (Charley) of Michigan, Jerry of Lawrenceburg, and daughter-in-law Darlene of St. Leon; 20 grandchildren and 26 great grandchildren. She is preceded in death by sons Andy and Alvin Werner. Anna was a member of the American Legion Auxiliary Unit 464 and was a past auxiliary president of the 9th district.Visitation for Anna will be Friday, January 17 from 4:00-7:00 pm at the Parish Life Center in St. Leon, beginning with Rosary at 4:00. Mass of Christian burial will be at All Saints Parish, St. Joseph Campus on Saturday, January 18 at 11:00 am. Memorials can be made to Family Wishes. Please visit www.andres-wuestefeldfh.com to offer condolences and sign the guestbook.last_img read more

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Sterling praise for Peters

first_img “Maybe on the outside people had the impression I’ve always been really confident,” Sterling said. “But after a good start (to last season) I started looking for easy options rather than taking a chance myself, beating a man, taking a shot on myself. “I’d stopped being natural, (and doing) all the things that I’d done which got me into the first team in the first place. “You could look at the City goal as an example. I’m not trying to sound cheeky or over confident but three or four months ago I would have squared rather than take the responsibility all for myself. “My goal was always to play for Liverpool when I first came here and maybe for a while I thought that goal was achieved because I was one of the lucky ones to do it. “But you realise that is not enough. There always has to be the next challenge, to achieve things and win things – making your mark. “From December time I realised I had to start stamping my personality, running with the ball, running into the box, making goals, scoring goals. Not playing with that barrier, not to be worried about making mistakes.” “The way he (Peters) works is brilliant,” Sterling told the latest edition of the official Liverpool FC magazine. “At first I thought it wasn’t for me. On the outside you might think it’s complicated, but all the messages are very straightforward. “He understands the players and the emotional side of the game. What he says really helps you. “We use a motto ‘focus on the ball, focus on the team’. I had a meeting with him before the Manchester City game (on April 13, which Liverpool won 3-2 with Sterling scoring the opening goal). “I thought it was going to last 20-25 minutes. So I walked in, sat down and he just said: ‘focus on the ball, focus on the team’. “‘Is that it?’ I asked him. But it was really important.” Sterling has scored 10 goals in all competitions this season and the one he netted against City was particularly memorable, with the composure he showed to take his time before rifling past England colleague Joe Hart. The teenager says a “barrier” has been lifted in terms of him worrying about making mistakes. Press Association Liverpool winger Raheem Sterling has revealed advice from sports psychiatrist Dr Steve Peters has helped boost his performance this season. Sterling has been one of several key men in the Reds’ impressive campaign, delivering displays worthy of the sort of hype that surrounded him when he made his breakthrough into the first team in 2012. And the 19-year-old says meeting at Melwood with Peters – who he will be able to speak to this summer in the England camp at the World Cup if he makes Roy Hodgson’s squad as expected – has played an important part in that. last_img read more

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Porterfield: ICC must develop game

first_imgIreland captain William Porterfield has once more attacked the International Cricket Council’s decision to cut the number of teams at the next World Cup. It has prompted much indignation, especially in the wake of Ireland’s spirited displays in recent weeks, having beaten Test-playing sides West Indies and Zimbabwe as they fell just short of reaching the knockout phases. Porterfield himself expressed his dismay at the decision last month and speaking after his team’s defeat to Pakistan – which ensured Ireland missed out on a quarter-final spot on net run-rate alone after finishing level on points with the Windies in Pool B – he again called on the ICC to help develop the game. Speaking at his post-match press conference, he said: “Why don’t 10 teams just play cricket and every other country in the world not bother? “You’ve got a Champions Trophy every two years and that’s the top eight sides so you’re just making a World Cup every other year for the top eight to 10 sides, I don’t think it’s right. “I’m sure they’re (the ICC) hoping everything blows over in the next few weeks and they don’t hear much from us, then it’s just easy to brush it under the carpet, but I think something has to be done if they want to grow the game. “We have to be playing in these competitions and we’ve shown what we can do in them. We’re unlucky we’ve missed out on the quarter-finals on net run-rate.” In between the current and previous World Cups, Ireland had played just nine matches against Full Member nations. Porterfield added: “We’ve shown what we can do when we get to these competitions with the minimal fixtures that we’ve had, so I think when we do get more fixtures then we’re only going to keep improving and it’s the same with any other country. This year’s edition features 14 teams, but under the ICC’s plans that will be reduced to 10 for the next tournament to be held in England in 2019. Eight places will be decided according to the world rankings and it is likely the associate nations, including the Irish, will have to battle it out for two qualifying spots. “You’ve got to keep growing the game.” Ireland have the chance to earn Test status in two years’ time, and Porterfield hopes they can play more shorter-format matches against the top nations to continue their development. He said: “We need more fixtures, we’ve shown how we can grow in one-day internationals. “Any time we’ve been on a tour or a World Cup for eight to 12 weeks we’ve shown what we can do, but when we go back now as a national side we’ve got six weeks until our next game (against England). “It’s a big gap in a calendar, especially at the start of a season back home, so those are the gaps we need filling before we look to start building for Test status. “It’s something we all want and there is that pathway there for Test cricket but we need to improve the volume of fixtures before we get to that stage.” Press Associationlast_img read more

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