2015 Event China's central bank takes action to reassure investors that it is attempting to address the nation's economic downturn, reducing interest rates and the amount of reserve funds required to be held by banks 2015 Event Debt rating company Moody's downgrades Greece to a Caa3 rating after the country misses its $1.6 billion payment to the IMF; Greek citizens will vote July 5th on whether to accept austerity conditions in exchange for bailout funds 2015 Event Greece misses its $1.8 billion debt payment to the IMF after a bailout extension request was denied; Greek leaders had rejected making reforms in exchange for the funds, but Prime Minister Alexis Tsipras is now willing to negotiate 2015 Event Hosni Mubarak, former president of Egypt, may be freed after the nation's high court overturned the sole remaining verdict against him for embezzling public funds; Mubarak has been serving his three-year prison term in a hospital due to poor health 2014 Event Japan passes a $29 million fiscal stimulus package to improve the economy; the funds will be allocated to supporting small businesses, stimulating local economic activity, and strengthening areas damaged by destructive natural forces 2014 Event The U.N. World Food Program stops assistance to over 1.7 million Syrian refugees in the nations adjoining Syria; the program has provided over $800 million in aid but lacks funds to continue this support 2014 Event Texas Governor Rick Perry has been convicted of felony for threatening to block state funds from the office of District Attorney Rosemary Lehmberg unless she resigned; the threat stemmed from Lehmberg's arrest for drunk driving 2014 Event By court order, student athletes can now profit from commercial use of their names and images; NCAA had previously retained all revenues from such deals, but students will now have profits placed in trust funds to be received upon leaving school 2014 Event After nearly 40 years on the throne, King Juan Carlos of Spain is abdicating and installing his son Felipe; unfavorable opinion, health issues and investigation of daughter Cristina in a public funds theft scandal have taken their toll on the king 2014 Event New Italian Prime Minister Matteo Renzi announces plans to cut government spending and use the funds to decrease taxes on individuals and regional businesses; Italy's unemployment rate increased 0.2 percent in January to 12.9 percent 2014 Event The U.S. Congress will as for $4.5 billion for additional missile defense spending over the next five years; the funds would partially pay for new radar in Alaska, indicating safety concerns regarding missiles from Iran and North Korea 2013 Event A controversial bill passes in Brazil's Chamber of Deputies; the bill regulates the distribution of royalties generated from oil exploration, with 75% of funds directed to education only 25% of the funds going to health 2012 Event The trial over illegal use of campaign funds by U.S. Presidential candidate John Edwards begins in North Carolina 2012 Event Lehman Brothers exits its bankruptcy protection, making it free to sell remaining assets and distribute its funds to creditors 2011 Event John Corzine, former Governor of New Jersey, is issued a subpoena over the collapse of MF Global and disappearance of customer funds 1996 Death Nicu Ceausescu, son of Romanian President, Nicolae Ceasescu, drinker, gambler, playboy, imprisoned for misusing government funds, dies at 45 in Vienna, Austria 1995 Death Bernard Cornfeld, Romanian/US financier (Fund of Funds), dies at 67 1989 Event Supreme Court rules states do not have to provide funds for abortions 1989 Event President Reagan pardons George Steinbrenner for illegal funds for Nixon 1973 Event Columbia Records fires president Clive Davis for misappropriating $100,000 in funds, Davis will start Arista records 1967 Event U.S. Senate censures Thomas J Dodd (D-Ct) for misusing campaign funds 1957 Event Due to lack of funds, Saturday mail delivery in U.S. is temp halted 1951 Birthday Nicu Ceausescu, born in Romania, son of Romanian President, Nicolae Ceasescu, drinker, gambler, playboy, imprisoned for misusing government funds 1938 Event Congress approves Vinson Naval Act, which funds a two-ocean navy 1928 Birthday David Somerset, born in England, David Robert Somerset, 11th Duke of Beaufort, British peer, criticized for accepting public funds on riverbed land granted to his dukedom 400 years ago 1927 Birthday Bernard "Bernie" Cornfeld, Romanian/U.S. financier, Fund of Funds 1913 Birthday Leo van der Kar, masseur/businessman/founder, Sports funds
