Apr 30

From the newsletter below:

“I love vaccines,” Gates stated at a TED conference in February, 2010, while lecturing on ways to reduce global populations to stem environmental pollution.

Now connect that to this:

bill-gates-vaccine-depopulation-genocide-vaccination
Bill Gates administers an oral polio vaccine (LIFE VIRUS!) in New Delhi in 2000. As he turns his full focus to the Bill & Melinda Gates Foundation, he plans to visit China, India and Africa in the coming year.

Now see what happened:

Polio surge in Nigeria caused by mutated vaccine virus (AP):

The vaccine used in the United States and other Western nations is given in shots, which use a killed virus that cannot cause polio.

So when WHO officials discovered a polio outbreak in Nigeria was sparked by the polio vaccine itself, they assumed it would be easier to stop than a natural “wild” virus.

They were wrong.

See also this video:

Dr. Rima E. Laibow: The Globalist Depopulation Agenda:

In 2002 one of Dr. Rima E. Laibow’s patients, a head of state, told her:

“It’s almost time for the great culling to begin.”

Around 6 billion people on planet earth are regarded as ‘useless eaters’ by the elite.


Via E-mail Newsletter From:  Tetrahedron, LLC

len-horowitz
Dr Len Horowitz


Health Science Communication for People Around the World

NEWS  RELEASE
Date Mailed: April 29, 2010

A medical investigation into suspicious outbreaks and propaganda used to sell drugs and vaccines has exposed investment bankers at JP Morgan-Chase (JPMC) and Goldman Sachs (GS) for plotting to shock/stress, frighten, poison, and kill billions of people most profitably-pharmaceutically-according to the Editor-in-Chief of Medical Veritas journal.

While researching a powerful Partnership for New York City (PFNYC),  Wall Street’s wealthiest industrialists, Harvard-trained public health expert, Dr. Leonard Horowitz, and investigative journalist, Sherri Kane, discovered shocking evidence of a conspiracy to commit global genocide by generating diseases and death to advance profitable pharmaceutical depopulation.

Population planners at the highest levels of government and industry conspired to spread diseases, vaccines, drugs, and death most profitably, according to research published in the latest issue of Medical Veritas.

In a related Special Report posted on YouTube, (see below) Dr. Horowitz urged humanitarian organizations and activist groups worldwide to issue investigations, alerts, civil complaints, and criminal charges to stop the pharmaceutical depopulation plot because it risks genetic inheritance, new pandemics, and the possible extinction of the human race.

“Corruption in the drug industry is rampant and transparent,” Dr. Horowitz explains,  “Investment bankers at JPMC and GS, who acquired controlling interests in the largest drug firms during mergers and acquisitions, have placed ‘depopulation’ near the top of their list of geopolitical priorites. Their depopulation agents are now in top positions of government, finance, and industry.

The depopulation plan is supported by the world’s wealthiest people, including Bill Gates, who admittedly funds vaccinations to reduce global populations by 10-15%. Leading population planners and economic developers advance identical plans to cull the world’s population to 1 billion. Continue reading »

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Apr 30

See also:

- Mike Krieger: Goodbye Disneyland! – The Neo-Feudalistic, Gulag Casino Economy Has Already Begun


Presenting the latest terrific analysis by Michael Krieger, formerly a macro analyst at Bernstein, and currently running his own fund, KAM LP, who joins Willem Buiter and everyone else left with a gram of prudence, in realizing that this is nothing more than the “last dance.”

“History is a set of lies agreed upon.”
– Napoleon Bonaparte

Most people prefer to believe their leaders are just and fair even in the face of evidence to the contrary, because most people do not want to admit they do not have the courage to do anything about it.  Most propaganda is not designed to fool the critical thinker, but only to give moral cowards an excuse not to think at all”
-  Michael Rivero

Every man gotta right to decide his own destiny, And in this judgment there is no partiality. So arm in arms, with arms, we’ll fight this little struggle, ‘Cause that’s the only way we can overcome our little trouble. -  Bob Marley, Zimbabwe

A Thousand Words On Conventional Wisdom

Conventional wisdom.  Many market analysts define conventional wisdom in relation to what direction the market is going to head in the future, but I think this is an utter mischaracterization of the concept.  For example, someone that is bullish on the market right now is likely to see conventional wisdom on stocks and the economy as overly bearish after ten years of no returns for U.S. equities.  In contrast, someone that expects a market collapse will say that everyone is a cheerleader and that the “conventional wisdom” after such a huge rally is for stocks to continue to go up.  This is not how I would describe conventional wisdom and all is does is drag the debate into the intellectual gutter.  Rather, to me conventional wisdom is more the “zeitgeist” of the financial and economic community at any given time.  Zeitgeist is defined by the Merriam-Webster dictionary as:  the general intellectual, moral, and cultural climate of an era.  In this sense an “era” will generally mean a lengthy period of time, several decades or perhaps even more extended periods.  That said, what is interesting is that every cycle in the global economy seems to bring forward distinct “mini-zeitgeists” that the experts create to justify market movements or give credence to economic dogma.

When I define conventional wisdom in this manner what I have found is that I almost always disagree with conventional wisdom.  Two very interesting recent periods were fall 2007-July 2008 and then mid-2008-early 2009 period.  In the first period, it was clear to me that decoupling was impossible because the U.S. was too large and it was clearly on the verge of collapse and, more importantly, that China and the U.S. were joined at the hip in a Keynesian economic Frankenstein that would not be easily severed.  Despite what I thought was pretty obvious at the time, conventional wisdom was that the BRICS had decoupled and all would be well.  Rather than seeing the commodity surge as the flight out of the dollar due to the distinct money policies of the U.S. Fed and everyone else, the rally was seen as evidence of decoupling.  This is mainly because conventional wisdom tends to view rising assets as a signal of prosperity.  I believe this was and is generally due to a misunderstanding of economics (we are all taught mostly rubbish in schools) and a shocking ignorance of the global financial system, how it really works and who/what is pulling the levers.

Continue reading »

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Apr 30

Spain’s economy was thrown into chaos on Thursday when its credit rating was cut, sharpening fears that Britain may suffer a similar fate.

The turmoil came just a day after Greece’s rating was cut, increasing concerns of a Europe-wide financial crisis.

The euro fell sharply and the interest rates European governments pay to borrow money jumped after Standard and Poor’s, a credit ratings agency, downgraded Spain.

Last night the government in Madrid appealed for calm, promising an “austerity programme” to cut spending.

But economists fear that events in Spain show that financial “contagion” is spreading from Greece, as investors are scared off investing in any European country with significant government deficits.

Britain’s government deficit this year will be bigger than that of either Greece or Spain, and some City analysts believe the UK’s AAA credit rating could be cut, driving up interest rates and raising the prospect of Britain being bailed out by the International Monetary Fund.

Yesterday David Cameron, the Conservative leader, suggested Britain could follow Greece into crisis. “Greece stands as a warning to what happens if you don’t pay back your debt,” he said. Continue reading »

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Apr 30

(BBC NEWS) — They have been called the ‘ghost estates’ of the Irish Republic – about 300,000 homes built in the frenzy of the property boom that no-one wants to live in now.

Soon, many brand new houses could be demolished. Continue reading »

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Apr 30

Think that things like that cannot happen in your country?

Think again:

- Dr. Len Horowitz: Profitable Depopulation Plot Links JPMorgan and Goldman Sachs to Vaccination Contaminations and Big Pharma Corruption

- Dr. Rima E. Laibow: The Globalist Depopulation Agenda:

“The H1N1 (swine flu) vaccine, with squalene, desigened to create permanent irreversible infertility, which is why pregnant women and children all over the world were supposed to get it first.”

- China: Forced sterilisations of 10,000 parents who have violated one-child rule, government detains relatives of those who resist

More on Uzbekistan:

- Former UK ambassador: CIA sent people to Uzbekistan for extreme torture, to be ‘raped with broken bottles,’ ‘boiled alive’ and ‘having their children tortured in front of them’


woman-baby

WHEN her baby died soon after delivery, Gulbahor Zavidova, 28, a poor farmer’s wife, longed to be pregnant again. After months of trying she and her husband visited a doctor who told her she could never have another child because she had been sterilised. The procedure had been performed immediately after she gave birth, by doctors who did not ask her consent. On learning she could not bear children, her husband left her. “Not a day passes without me crying,” she said. “I was outraged when I found out what they had done. How could they do such a horrible thing without asking me?” According to human rights groups, tens of thousands of young women like Zavidova have been sterilised without their consent in the authoritarian former Soviet state of Uzbekistan.

Uzbek sources say the measure was ordered by Islam Karimov, the president, who has ruled with an iron fist for 20 years. The policy is aimed at keeping down the country’s poor population – with 28m people, it is Central Asia’s most densely populated state.

Activists say mass sterilisation began in 2003, but was eased after two years following an outcry. It is said to have restarted in February this year, when the health ministry ordered doctors to recommend sterilisation as an “effective contraceptive”. Critics claim every doctor was told to persuade “at least two women” a month to have the procedure. Doctors who failed faced reprisals and fines.

“We estimate that since February, about 5,000 women have been sterilised without consent,” said a local human rights campaigner who fears detention if she is named.

In many cases, doctors opt for delivery by caesarean section and then perform a sterilisation without telling the woman. Widespread rumours of the practice have resulted in women opting for home births to avoid the risk. Continue reading »

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Apr 30

“The U.S. government has since defended the strikes as legitimate self-defense.”

“Preventive war was an invention of Hitler. Frankly, I would not even listen to anyone seriously that came and talked about such a thing.”

– Dwight D. Eisenhower


cia-drone-pilots-could-be-tried-for-war-crimes

The pilots waging America’s undeclared drone war in Pakistan could be liable to criminal prosecution for “war crimes,” a prominent law professor told a Congressional panel Wednesday.

Harold Koh, the State Department’s top legal adviser, outlined the administration’s legal case for the robotic attacks last month. Now, some legal experts are taking turns to punch holes in Koh’s argument.

It’s part of an ongoing legal debate about the CIA and U.S. military’s lethal drone operations, which have escalated in recent months – and which have received some technological upgrades. Critics of the program, including the American Civil Liberties Union, have argued that the campaign amounts to a program of targeted killing that may violate the laws of war.

In a hearing Wednesday before the House Committee on Oversight and Government Reform’s national security and foreign affairs panel, several professors of national security law seemed open to that argument. But there are still plenty of caveats, and the risks to U.S. drone operators are at this point theoretical: Unless a judge in, say, Pakistan, wanted to issue a warrant, it doesn’t seem likely. But that’s just one of the possible legal hazards of robotic warfare.

Loyola Law School professor David Glazier, a former Navy surface warfare officer, said the pilots operating the drones from afar could – in theory – be hauled into court in the countries where the attacks occur. That’s because the CIA’s drone pilots aren’t combatants in a legal sense. “It is my opinion, as well as that of most other law-of-war scholars I know, that those who participate in hostilities without the combatant’s privilege do not violate the law of war by doing so, they simply gain no immunity from domestic laws,” he said.

“Under this view CIA drone pilots are liable to prosecution under the law of any jurisdiction where attacks occur for any injuries, deaths or property damage they cause,” Glazier continued. “But under the legal theories adopted by our government in prosecuting Guantánamo detainees, these CIA officers as well as any higher-level government officials who have authorized or directed their attacks are committing war crimes.”

Continue reading »

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Apr 29

And now the video with the 4 gunshots makes perfect sense.


The Polish plane that crashed in Smolensk, western Russia, on April 10th had only four people on board, audio recordings of the pilot’s communuications with the control tower suggest.

According to the recordings, the Polish pilot said that there were four people on the plane, indicating that the plane was empty apart from the four crew members.

This recording contradicts official statements that there were either 96 people or 132 people on the plane, including many top Polish civilian and military leaders.

The Polish pilot of the crashed plane IGA 703 communicates the information that there are four people on board as part of a routine exchange with the control tower as he approaches Smolensk airfield to land:

The Polish pilot says in Russian in the final sentence of the communication:

PILOT: “tolko posadka…  a u nas CZIETYRJE czielovieka.”

“only landing… and here (on board) we are FOUR people.”

The audio recording could provide corroboration to a video clip that has emerged in which four gunshots can be heard being fired among the wreckage of the plane in the immediate aftermath of the crash.

Watch the video here: Polish President killed over opposing landmark Gazprom deal?

It has been speculated that four gun shots were fired to kill the survivors of the crash.

The cockpit of the crashed plane appears to be in relatively good shape, and some of the crew could have been expected to have survived. Continue reading »

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Apr 29

In 2002 one of Dr. Rima E. Laibow’s patients, a head of state, told her:

“It’s almost time for the great culling to begin.”

Dr. Rima E. Laibow’s husband is Albert “Bert” Newton Stubblebine III a retired Major General in the United States Army. He was the commanding general of the United States Army Intelligence and Security Command from 1981 to 1984, when he retired from the Army.


Added: 2. April 2010

“The WHO Is A Private Corporation Just Like The Federal Reserve And Receives More Than Two Thirds of Its Funding From The Pharmaceutical Industry.”

As a side note: I would have preferred that she would have said that men and women should be educated to make a difference in their community.

In case you don’t believe what she says about the swine flu vaccine, see this: Continue reading »

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Apr 29

The videos below have the German translation and Major General Albert N. Stubblebine’s preface cut out.

Albert N. Stubblebine is a retired Major General in the United States Army. He was the commanding general of the United States Army Intelligence and Security Command from 1981 to 1984, when he retired from the Army.

Watch the entire presentation (in German or) with German translation here:

(The preface from Major General Albert N. Stubblebine starts at around 4:30 into the video.)

- Codex Alimentarius Dr. Laibow auf der AZK (1/11) (YouTube)

here:

- AZK – Dr. Rima E. Laibow – Codex Alimentarius (1:44:47) (Daily Motion)

or here:

- AZK – Major. General. Albert N. Stubblebine Vorwort – Dr. Rima E. Laibow – Codex Alimentarius (Google Video – This video has some loss of vision in it.)


1 of 4:

Added: 4. August 2009

2 of 4:

Added: 4. August 2009

3 of 4:

Added: 4. August 2009

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Added: 4. August 2009

Related information:

- Dr. Rima E. Laibow on the Contamination of the Food Supply & Deadly Antibiotics

- Codex Alimentarius: Population Control Under the Guise of Consumer Protection

- One Nation Under Siege – Full Theatrical Release

- Nutricide – Criminalizing Natural Health, Vitamins, and Herbs

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Apr 29


Added: 5. Februar 2010

Rima E. Laibow, M.D. is the Medical Director of the Natural Solutions Foundation. She is a graduate of Albert Einstein College of Medicine (1970) who believes passionately in the right every American to choose a personal health path that is free of government or corporate interference.

She has practiced drug-free, natural medicine for 35 years by seeking the underlying cause of every illness and ailment. Over During this time, she has enjoyed remarkable success with a wide assortment of cataclysmic problems and health promotion efforts.

Like other healers who trust the innate ability to heal, she believes in using nutrients and other natural options to find, define and treat the problems which underlie degenerative, chronic diseases. The key is supporting the immune and other crucial body systems. Dr. Laibow has seen results from these techniques so often in her patients and in her personal life, that she believes the medicine of the future is the medicine of cooperation with nature.

Dr. Laibow is the President of the NeuroTherapy Certification Board which she helped establish in order to strengthen and develop the field of NeuroBioFeedback and bring it into wide-spread use as a powerful, non-toxic tool for modern medicine.
Because of Dr. Laibows awareness of the wide variety of powerful natural, non-toxic options available to treat the underlying causes of disease, she is focused on maintaining these choices for all Americans.

Based on her understanding of the impact of poor nutrition and chemical/pesticide toxicity on the declining health of America, Dr. Laibow is determined to help Americans maintain their right to choose health promotion rather than illness care in their efforts to protect themselves from disease and toxic harm.

Related information:

- Codex Alimentarius: Population Control Under the Guise of Consumer Protection

- One Nation Under Siege – Full Theatrical Release

- Nutricide – Criminalizing Natural Health, Vitamins, and Herbs

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Apr 29

The CIA will spend millions of dollars over the next five years to improve intelligence gathering, upgrade technologies and enable analysts to work more closely with spies in the field.

cia_lobby_seal-lg

The plan renews the agency’s year-old goal to increase the number of analysts and overseas operatives fluent in other languages.

The lack of bilingual agents has been a problem that has plagued military and civilian intelligence officers throughout much of the last decade of war in Afghanistan and Iraq.

CIA Director Leon Panetta said the changes will help the agency battle emerging national security dangers better, including terrorism, weapons of mass destruction and cyberthreats. US intelligence agencies have come under fire in recent months for perceived lapses that let a suicide bomber infiltrate a CIA base in Afghanistan and an alleged would-be bomber to board a US-bound flight on Christmas. Continue reading »

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Apr 29

This is one of the most poignant tragedies of the modern world

bushmen-01
Bushmen from the Khomani San community strike poses in the Southern Kalahari desert, South Africa Photo: GETTY

Ever since 1996, I have been following one of the most poignant tragedies of the modern world – the ruthless drive by the Botswanan government to expel the last remaining Bushmen, the original inhabitants of Africa, from their ancestral homeland in the Central Kalahari Game Reserve.

Although, in 2006, the country’s high court upheld the Bushmen’s right to remain in the reserve under Botswana’s constitution, the authorities have continued to persecute them, not least by denying them access to the borehole that provided them with water,

Now, in a further cynical twist to this inhuman policy, the authorities have permitted a supposedly eco-conscious company to open a tourist lodge in the reserve, complete with a swimming pool full of what the firm describes as “the most precious commodity in the desert”. Guests can even enjoy a “Bushman Walk”.

Not the least shocking feature of this official campaign of racial persecution is that it has been supported by our own Government (which first set up the reserve as a haven for the Bushmen in 1961), and also by the EU, which has poured aid worth millions of euros into Botswana’s tourist economy.

The UN’s rapporteur for indigenous peoples recently condemned the cutting off of the Bushmen’s water supply, and in June their plea for their water supply to be restored (which is supported by the admirable charity Survival International) will be heard in the courts. Meanwhile, weary Kalahari ecotourists can continue to cool off in the very water the Bushmen are denied. Continue reading »

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Apr 28

Don’t miss:

European Central Bank President Jean-Claude Trichet at the Council on Foreign Relations in New York, on April 26, 2010:

- Greek Junk Contagion Presses EU to Broaden Bailout – ECB President Jean-Claude Trichet at CFR (April 26, 2010)


Translation via Helen Skopis of the recent interview with Max Keiser in Proto Thema newspaper in Athens.

Article in Proto Thema online – April 23, 2010 By Vassili Daliani

“The IMF is a Financial Mafia”

At a time when Greece is being dragged through the mud by the international press, Max Keiser, one of the most radical and outspoken financial analysts, stands by our side and talks openly about a “financial mafia” and “financial terrorists” that drove this country to its destruction.

As a former Wall Street broker for almost 25 years, he knows how the financial system operates. Max Keiser had foreseen the financial collapse of Iceland, he asks for the arrest of Goldman Sachs bankers and encourages Greeks to hold a referendum on whether the country should turn to the International Monetary Fund.

He is a presenter of financial shows on major worldwide TV networks, including the BBC, the English Al Jazeera and Russia Today. Max Keiser told “THEMA” that the government’s measures are unsubstantial maintaining that the IMF will impose the real measures. He believes that Greece is a country that will be sacrificed by the international markets and urges the Greek people to fight this prospective.

PT: Is the International Monetary Fund Greece’s only solution, or are there other alternatives?

MK: The only solution for Greece is to arrest the Goldman Sachs bankers immediately and all those involved in the fabrication of Greek economic data in 2000, when you became a member of the eurozone. The next step is to nationalize all banks like Sweden did in 1993. The International Monetary Fund is that last thing you need. You will lose your sovereignty. It exercises terrorism. You will be raped in such a way, that it will be the worst pain you have ever felt.

PT: There are those who believe that the IMF is not the “bad wolf” but the only solution for Greece

MK: If someone burns down your house in order to sell you charcoal, would you consider this logical? That is exactly what Goldman Sachs did to the Greek economy. They burned you down like arsonists and then they tell you not to worry they’ll give you charcoal. It’s outrageous. The IMF has said that it can provide Greece with help. The Wall Street investment hedge funds are attacking Greece’s bond market so that the Greek economy collapses. And they’re doing this for a simple reason; to force the Greek people to ask for help from the IMF. The IMF will say, we came because you asked for our help. Wall Street bankers work very closely with the IMF. It’s a financial mafia and the hedge funds are the assassins. Research conducted on Goldman Sachs in the USA and in Europe show how big a mafia it is. They are involved in illegal activity throughout the world.

PT: Where is the European Union? How would you explain the stance of France and Germany?

MK: Germany is on the side of the Wall Street bankers. Germany doesn’t care about Greece or the euro. The euro replaced a cheap capital in order to uphold competitiveness in its export market. As long as Greece is a problem, the euro falls, which is something that is in Germany’s interest.

The European Union and the euro are competing with the dollar. Unfortunately, the crisis will destroy the euro. The financial terrorists on Wall Street intend to destroy Portugal, and other countries, after Greece. The destruction of the euro will allow the dollar to be the only international currency, the only fiscal reserve. If a country wants to buy petroleum, it must purchase dollars first. If a country wants to buy copper, it must purchase dollars first. Because these and many other commodities are only sold in dollars. This means that the U.S. is making a continuous profit. The whole world is obliged to buy dollars. The euro threatened the empire of the dollar. It was naturally not appreciated by Wall Street bankers. They are using the crisis to destroy the euro. The Greek people must stand up to the bankers, just like the Icelandic people did.

Continue reading »

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Apr 28

At the end of the following article famous investor Marc Faber had to say this:

“The best would be to kick out Greece and the countries that abuse the system,” Faber said in an interview. “They didn’t have the fiscal discipline that was essentially imposed by EU.”

It seems that there are more important things for ECB President Jean-Claude Trichet to do right now than to speak at the Council on Foreign Relations in New York, unless you know that those elitists at Bilderberg, CFR and the Trilateral Commission, that rule the governments, the central banks, the corporations and the media have created this entire financial crisis.

The elite is looting the people in the US, Europe and everywhere else.

The elite is bankrupting the people until they beg for world government and the New World Order.

What could Greece do?

- The Solution For Greece (Max Keiser, Matt Taibbi and Catherine Austin Fitts)

Message to the people of Greece: Avoid the IMF like hell, because the IMF is hell.

The people in Greece seem to have a much better understanding of what is happening to them than the people in the US and the UK.


Greek Junk Contagion Presses EU to Broaden Bailout (Update2)

jean-claude-trichet-at-cfr
Jean-Claude Trichet, president of the European Central Bank, speaks at the Council on Foreign Relations in New York, on April 26, 2010. (Bloomberg)

April 28 (Bloomberg) — Europe’s worsening debt crisis is intensifying pressure on policy makers to widen a bailout package beyond Greece after a cut in the nation’s rating to junk drove up borrowing costs from Italy to Portugal and Ireland.

As German Chancellor Angela Merkel delays approval of a 45 billion-euro ($59 billion) Greek rescue, the crisis is spreading. Portugal’s benchmark stock index yesterday fell the most since the aftermath of Lehman Brothers Holdings Inc.’s collapse, while the extra yield that investors demand to hold Italian and Irish debt over bunds remained near yesterday’s 10-month high. Continue reading »

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Apr 28

‘Spain is worse than Greece.’

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Prof. Nouriel Roubini

- Roubini on Greece (Reuters):

Meanwhile, Tony Barber has already come to the conclusion that as far as Greece is concerned, “the political conditions for extra financial help from Germany just do not exist”.

Nouriel, of course, takes that kind of thinking to its logical conclusion, and kicked off the panel by announcing that it was just in time: “in a few days,” he said, “there might not be a eurozone for us to discuss.” There’s no way that Greece can implement the 10% spending cut it needs to do in order to stop its debt spiralling out of control at current interest rates — and even if it did, the economic effects would be disastrous.

Nouriel’s base case, then, is Argentina 2001: after all, Greece has a much higher debt-to-GDP ratio, much higher deficit-to-GDP ratio, and much higher current-account deficit than Argentina had back then. And if that’s the base case, there’s no way that Greek debt should be trading anywhere near its current levels.

Of course, this being Nouriel, it goes downhill from there: if Greece is worse than Argentina, he says, then Spain is worse than Greece. Its housing bubble and bust has left the banking sector much weaker than Greece’s; its unemployment situation, especially with the under-30 crowd, is much worse than Greece’s; and the cost of any Spain bailout would be so much more enormous than the cost of a Greek bailout as to be almost unthinkable. The only thing that Spain has going for it is that it isn’t quite at the edge of the abyss yet; if it gets its political act together and implements tough fiscal and structural reforms now, it can save itself. But clearly no one saw that happening, given Spain’s political history over the past 20 years.

Apr 27, 2010 22:14 EDT

See also:

- Greece: Bondholders May Lose $265 Billion as S&P Sees 70% Loss (Bloomberg)

- Standard & Poor’s Downgrades Greece’s Credit Rating to Junk (Bloomberg)

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Apr 28

neil-barofsky
Neil Barofsky, special inspector general for the Troubled Asset Relief Program (TARP), testifies at a House Oversight and Government Reform Committee hearing on preventing home foreclosures in Washington, D.C. (Bloomberg)

- Barofsky Says Criminal Charges Possible in Alleged AIG Coverup (Boomberg):

Janet Tavakoli, founder of Chicago-based Tavakoli Structured Finance Inc., says Barofsky hasn’t been aggressive enough. She says SIGTARP should be running criminal probes of the bankers who underwrote and managed the collateralized debt obligations that were at the center of the financial meltdown.

CDOs are bundles of mortgage-backed bonds and other debt sold to investors.

Tavakoli says the CDO managers sometimes replaced relatively high-quality securities with new ones that were more likely to default.

‘Phony Labels’

“It is securities fraud if you take securities and package them and knowingly pass them off with phony labels,” she says.

TARP Police

Barofsky says investigations related to the underwriting and sale of CDOs are ongoing.

Barofsky says the question of whether the New York Fed engaged in a coverup will result in some sort of action.

“We’re either going to have criminal or civil charges against individuals or we’re going to have a report,” Barofsky says. “This is too important for us not to share our findings.”

He won’t say whether the investigation is targeting Geithner personally.


WHOA: TARP Watchdog Says Criminal Charges May Be On the Table For New York Fed Over AIG Coverup

timothy-geithner-080808

Neil Barofsky, The Special Inspector General for TARP oversight, better known as SIGTARP, says criminal or civil charges are still on the table in the AIG coverup, according to a long profile at Bloomberg.

In the eye-opening piece, Barofsky talks about how he got a crappy basement office in the Treasury building and likens its foul smell to relations between the Treasury department and himself.

Since Barofsky’s job is to watchover TARP funds and how they’re used. it should come as no surprise that when $700 billion is on the line, funds are bound to be misappropriated.

So what’s the essence of Barofsky’s beef? A few things:

  • “Barofsky’s most recent broadside came on April 20, when a SIGTARP report labeled a housing-loan modification program funded with $50 billion of TARP money as ineffectual.”
  • He has also criticized Tim Geithner in reports for his handling of the AIG bailout back when he was Chair of the NY Fed.
  • Mortgage deals involving CDOs similar to the ABACUS deal.
  • How both Obama and Bush handled the financial crisis.

Continue reading »

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Apr 28

See also: Peter Schiff on Obama’s Financial Regulation Bill and Goldman Sachs


lloyd-blankfein

A financial regulatory reform bill has at least one supporter outside of Congressional Democrats, Lloyd Blankfein, the head of investment bank Goldman Sachs.

“I’m generally supportive,” Blankfein told the Senate Permanent Subcommittee on Investigations.

Wall Street will benefit from the bill because it will make the market safer, Blankfein said.

“The biggest beneficiary of reform is Wall Street itself,” he said. “The biggest risk is risk financial institutions have with each other.” Continue reading »

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Apr 28


Date: 26th Apr 10

See also:

- Peter Schiff: Obama’s Financial Reform Does Nothing To Address The Underlying Problems

- Gerald Celente: Obama’s Financial Reform Is Just A Show

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Apr 28
peter-harvey Peter Harvey denies a charge of attempted murder in July 2009

A science teacher beat a pupil around the head with a dumbbell while shouting “die, die, die”, a court heard.

Peter Harvey, 50, hit the 14-year-old boy with a 3kg weight at All Saints’ Roman Catholic School, Mansfield, a jury heard.

He denies attempted murder and causing grievous bodily harm (GBH) with intent, but has admitted a charge of GBH.

Nottingham Crown Court was told students were filmed calling Mr Harvey a “psycho” moments before the attack.

Another pupil was filming as Mr Harvey tried to restore discipline.

The injured schoolboy, whom Mr Harvey confronted for misbehaving in class, suffered a fractured skull and bleeding on the brain.

At the time the blows were being struck Mr Harvey was only heard to say one thing… ‘die, die, die’
Stuart Rafferty QC

Stuart Rafferty QC, prosecuting, said Mr Harvey was sent home from the school in December 2008 after telling an education adviser he might harm somebody.

He returned to the classroom in April 2009.

Mr Harvey was “happy” and “positive” on the morning of the attack, the court heard. Continue reading »

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Apr 27

- Standard & Poor’s Downgrades Greece’s Credit Rating to Junk (Bloomberg)


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April 28 (Bloomberg) — Holders of Greek bonds may lose as much as 200 billion euros ($265 billion) should the government default, according to Standard & Poor’s.

The ratings firm cut Greece three steps yesterday to BB+, or below investment grade, and said bondholders may recover only 30 percent and 50 percent for their investments if the nation fails to make debt payments. Europe’s most-indebted country relative to the size of its economy has about 296 billion euros of bonds outstanding, data compiled by Bloomberg show.

The downgrade to junk status led investors to dump Greece’s bonds, driving yields on two-year notes to as high as 19 percent from 4.6 percent a month ago as concern deepened the nation may delay or reduce debt payments. Prime Minister George Papandreou is grappling with a budget deficit of almost 14 percent of gross domestic product.

“It’s now not just market sentiment, but a top rating agency sees Greek paper as junk,” said Padhraic Garvey, head of investment-grade strategy at ING Groep NV in Amsterdam.

Before yesterday, Greece’s bonds had lost about 17 percent this year, according to Bloomberg/EFFAS indexes. The 4.3 percent security due March 2012 fell 6.54, or 65.4 euros per 1,000-euro face amount, to 78.32. Continue reading »

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