New York cashes $4.6B in penalties
5:04 pm
Fri July 11, 2014

NY nets more in bank fees

Benjamin Lawsky, superintendent of New York Department of Financial Services, speaks to business leaders on Long Island. Lawsky has so far collected $4.6 billion in bank fines.
Credit Charles Lane

The amount of money New York State is receiving in penalties levied against banks is increasing. In the last three months state coffers have added more than $4.6 billion in bank fines.

The bulk of the money comes from a record settlement against BNP Paribas, a French bank that admitted to violating US sanctions against Iran, Sudan, and Cuba. It was first reported that New York would receive $2.2 billion, but that number ticks up by another billion because New York City will be giving a portion of its penalty to the state.

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Bethel dispensary faces challenge
12:59 pm
Fri July 11, 2014

For some, medical marijuana is OK, just not in their back yard

Medical marijuana at a dispensary in California
Credit (AP Photo/Reed Saxon, File)

It will be a year and a half before marijuana becomes available in New York, after Governor Andrew Cuomo signed a law last weekend allowing a limited use of the drug for certain diseases. In Connecticut, a new industry is taking shape as the state’s medical marijuana program nears its launch. Six dispensaries have been licensed to open around Connecticut.   In Fairfield County, one of these dispensaries has run into some unusually strong resistance.

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Overcoming a "sissy" image
6:37 pm
Thu July 10, 2014

Badminton woos Americans on Long Island

The Danish Flemming Quach returning a volley at the US badminton championship held at Suffolk County Community College
Credit Charles Lane

The tall and lithe Michelle Li from Toronto dings a goose feathered shuttlecock to and fro in a lazy, backyard barbeque sort of way. The rubber-nosed projectile flies over the net as she takes a dainty step here, a swing of the ponytail there, and then she jumps a foot and half in the air, and…

WHOP

Li hasn't clocked her "smash" but she guesses it's around 200 MPH. This with a racket weighing less than a quarter pound which, perhaps, mischaracterizes the sport in general as non-contact, non-competitive, non-American.

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Replica of historic ship may visit Sailfest
6:25 pm
Thu July 10, 2014

Amistad reconsidering skipping trip to New London after Malloy threatens to drop funding

The "Freedom Schooner Amistad" in New Haven
Credit Craig LeMoult

Connecticut Governor Dannel Malloy is threatening to reconsider supporting additional state funding for the replica Amistad slave ship. That’s because the group managing the schooner said it’s planning to skip this weekend's Sailfest in New London.

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WSHU Media Sponsorships
1:59 pm
Thu July 10, 2014

Pequot Library

Pequot Library

Pequot Library Book Sale July 25-29

Pequot Library brings literature, music, art, science and the humanities to our community. For over 125 years, Pequot Library has been a pillar of Fairfield County, providing professional, encouraging library services and diverse programming to our local and regional community.

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Vintage Radio
1:53 pm
Thu July 10, 2014

A Radio for the Great Depression, Part II

1931 Philco Model 70 in a cathedral cabinet
Credit P. Litwinovich collection

Last month we looked at radio at the start of the Great Depression and how RCA’s President David Sarnoff made the decision to license the heterodyne circuit to any manufacturer willing to pay royalties to use it. The heterodyne circuit, combined with the new developments in vacuum tube technology, allowed manufacturers to build affordable radios that performed far better than most of the high end sets from just a few years prior.

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WSHU Media Sponsorships
10:40 am
Thu July 10, 2014

Bridgehampton Chamber Music Festival

Bridgehampton Chamber Music Festival

This summer, the Bridgehampton Chamber Music Festival marks its 31st  season in the beautiful seaside setting of Long Island’s East End. The Island’s longest-running classical music festival this year features 12 concerts from July 30 to August 24, featuring the signature mix of renowned and up-and-coming artists and classic and new music that has made it one of the most noteworthy summer music festivals in the country.

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Grants continue early childhood programs
6:00 pm
Wed July 9, 2014

Stamford and Bridgeport Head Start programs win millions in federal funding

Organizations running early childhood education programs for low-income kids in Stamford and Bridgeport have won millions of dollars in federal grants to continue their programs.

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The psychology of falling for a Ponzi scheme
5:15 pm
Wed July 9, 2014

How to fall for a Ponzi in three steps

The Panoramic View Resort in Montauk, NY. Scammers told victims they were investing in a safe mutual fund but instead used the money in the troubled resort.
Credit Photo courtesy of Ed Kim

Six years after Bernard Madoff became a household name people still fall for Ponzi schemes. That's probably because schemers have a tried and true method backed up by psychology. 

Last year there was a big $96 million Ponzi scheme on Long Island. It had all the trapping of a Hollywood con: offshore shell companies, luxury cars, and there was even a famous beachfront resort near the Hamptons.

But for the victim there was nothing glamorous about it

"I thought it was some run of the mill fund," Jan says in a sweet Texan twang that makes friends of almost any ears.

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Aquisition will preserve Catholic hospital
6:45 pm
Tue July 8, 2014

St. Mary's Hospital in Waterbury agrees to be acquired by Texas-based Tenet Healthcare Corporation

One of the two hospitals in Waterbury, Connecticut, announced on Tuesday that it has agreed to be acquired by Texas-based Tenet Healthcare Corporation. Officials say St. Mary’s Hospital's Catholic heritage and religious directives will be honored under the terms of the agreement.

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