Dwyane Wade & LeBron James Partying 'til 5:30 AM After NBA Title

The Miami Heat finished off the San Antonio Spurs and then proceeded to finish off a few bottles of champagne ... celebrating their NBA title last night in grand fashion.

LeBron James, Dwyane Wade and company hit up Story nightclub in Miami where we're told they partied until 5:30 AM. Drake (right) and D-Wade's GF Gabrielle Union (below, bottom left) were among the celebs who helped the Heat celebrate their second NBA title in a row.

You gotta see the video ... especially when 68-year-old NBA legend (and Heat Prez) Pat Riley joins the crew.

Had the Spurs won it all, you have to wonder ... would 37-year-old Tim Duncan, 35-year-old Manu Ginobili, and 31-year-old Tony Parker have even hit the clubs at all?

Read more: http://www.tmz.com/2013/06/21/lebron-james-dwyane-wade-miami-heat-nba-championship-photos/#ixzz2Wrs9jS00
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Justin Bieber's Posse TERRORIZING CALABASAS ... Caught On Tape!!!

Justin Bieber's housemates -- Lil Za & Lil Twist -- are law-breaking, aggressive punks ... who dangerously rocketed through the streets of Calabasas and cussed out their neighbor ... and TMZ has the footage.

The latest incident went down Thursday inside Bieber's exclusive gated community -- The Oaks -- where one of Bieber's neighbors witnessed Za and Twist tearing up the streets in JB's cars ... a black Range Rover and the infamous white Ferrari.

You'll see a lady with a camera driving 25mph -- the speed limit -- as the two cars are stopped in front of her ... one in the oncoming traffic lane.

As the woman passes Bieber's cars ... Za and Twist turn on the jets and screech past her at speeds way in excess of the limit.

It all comes to a head at one of the gates in the community, where Za gets out of his car, aggressively confronts the woman -- and proclaims he's a resident of The Oaks with this glib gem ... "I live with Justin Bieber and you know I do."

He then tells the woman, "F**k you. Get the f**k out of here."

Read more: http://www.tmz.com/2013/06/21/justin-bieber-posse-lil-za-lil-twist-calabasas-speeding/#ixzz2WrqFURKi
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Bernanke bond announcement was poorly timed: Fed's Bullard

St. Louis Federal Reserve Bank President James Bullard worried that the Fed's decision earlier this week to announce a plan to reduce bond buying was poorly timed, the regional Fed bank said in a statement on Friday explaining his dissent. "President Bullard ... felt that the committee's decision to authorize the chairman to lay out a more elaborate plan for reducing the pace of asset purchases was inappropriately timed," the St. Louis Fed's statement said.
Bullard was one of two dissents cast on Wednesday by members of the U.S. central bank's policy-setting Federal Open Market Committee. The other dissent, by Kansas City Fed President Esther George, was in the opposite direction, as she worried that ongoing bond buying could stoke financial instability.
Global financial markets have sunk sharply since Fed Chairman Ben Bernanke laid out the plan to begin cutting the pace of asset purchases later this year, provided the U.S. economy continues to improve as the central bank expects.
The Fed is currently buying bonds at an $85 billion monthly pace to put downward pressure on longer term borrowing costs. These steps, together with official Fed overnight interest rates that have been held near zero since late 2008, are designed to boost U.S. growth and hiring.
The St. Louis Fed noted that the 19 Fed officials who took part in the policy discussion on Wednesday also released economic projections in which they marked down forecasts for U.S. growth and inflation in 2013, while "simultaneously announcing that less accommodative policy may be in store."
"President Bullard felt that a more prudent approach would be to wait for more tangible signs that the economy was strengthening and that inflation was on a path to return toward target before making such an announcement," St. Louis said.
It also repeated that Bullard thought the Fed should have more strongly signaled a willingness to defend its 2 percent inflation target, in light of recent low inflation readings, which was the explanation for his dissent offered in a statement issued by the Fed on Wednesday.
Furthermore, St. Louis said that Bullard viewed the decision to lay out a rough timeline for scaling back bond buying, which Bernanke explained would likely come to a halt around mid-2014, was a step away from a "state-contingent" monetary policy that was dictated by economic conditions, rather than calendar dates.

Kim and Kanye BABY NAME REVEALED

What do Kim Kardashian's new baby and the Space Needle have in common?

They're both NORTH WEST ... TMZ has learned.

Seriously, that's the kid's name ... according to the birth certificate from Cedars-Sinai hospital.

There were rumors floating around a few months ago that Kim and Kanye West might give the baby a directional name ... but who thought they would actually go through with it?

And when you look at the options -- West West is redundant ... South West is an airline ... and East West leads to nowhere.

So, by default ... North West it is!

Congratulations little girl.

Read more: http://www.tmz.com/2013/06/20/kim-kardashian-baby-name-north-west-kanye/#ixzz2WrUklAGy
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