Infinite Unknown

A worker checks a plate glass on the production line at the Saint-Gobain Chantereine glass factory in Thourotte, France, on Oct. 17, 2007. Photographer: Fabrice Dimier/Bloomberg News

Nov. 12 (Bloomberg) — Cie. de Saint-Gobain SA, Asahi Glass Co., and a Nippon Sheet Glass Co. unit were fined a record 1.38 billion euros ($1.7 billion) by the European Union over claims the companies fixed the price of car windows.

Saint-Gobain, Europe’s largest building-materials supplier, was fined 896 million euros, the highest against a single company, the European Commission said in a statement today. Asahi Glass was fined 113.5 million euros, Nippon’s Pilkington unit 370 million euros. A fourth company, Belgium’s Soliver, got a 4.4 million-euro penalty.

The penalties were increased because the companies are repeat offenders, the commission said. Saint-Gobain, Pilkington and two competitors were fined a total of 487 million euros for participating in a separate cartel to set the prices of glass used in the construction industry. Saint-Gobain shares fell 5.2 percent.

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Tags: corporations, Economy, EU, law, Stock Market

(NaturalNews) Tyson Foods, the world’s largest meat processor and the second largest chicken producer in the United States, has admitted that it injects its chickens with antibiotics before they hatch, but labels them as raised without antibiotics anyway. In response, the U.S. Department of Agriculture’s (USDA) told Tyson to stop using the antibiotic-free label. The company has sued over its right to keep using it.

The controversy over Tyson’s antibiotic-free label began in summer 2007, when the company began a massive advertising campaign to tout its chicken as “raised without antibiotics.” Already, Tyson has spent tens of millions of dollars this year to date in continuing this campaign.

Poultry farmers regularly treat chickens and other birds with antibiotics to prevent the development of intestinal infections that might reduce the weight (and profitability) of the birds. Yet scientists have become increasingly concerned that the routine use of antibiotics in animal agriculture may accelerate the development of antibiotic-resistant bacteria that could lead to a pandemic or other health crisis.

After Tyson began labeling its chicken antibiotic-free, the USDA warned the company that such labels were not truthful, because Tyson regularly treats its birds’ feed with bacteria-killing ionophores. Tyson argued that ionophores are antimicrobials rather than antibiotics, but the USDA reiterated its policy that “ionophores are antibiotics.”

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Tags: animals, antibiotics, corporations, crime, Food, fraud, Health, U.S., USDA

New Obama Chief of Staff, Others on Board, Missed “Red Flags” of Alleged Fraud Scheme

President-elect Barack Obama’s newly appointed chief of staff, Rahm Emanuel, served on the board of directors of the federal mortgage firm Freddie Mac at a time when scandal was brewing at the troubled agency and the board failed to spot “red flags,” according to government reports reviewed by ABCNews.com.

President-elect Barack Obama’s newly appointed chief of staff, Rahm Emanuel, served on the board of directors of the federal mortgage firm Freddie Mac at a time when scandal was brewing at the troubled agency and the board failed to spot “red flags,” according to government reports reviewed by ABCNews.com.

According to a complaint later filed by the Securities and Exchange Commission, Freddie Mac, known formally as the Federal Home Loan Mortgage Corporation, misreported profits by billions of dollars in order to deceive investors between the years 2000 and 2002.

Emanuel was not named in the SEC complaint (click here to read) but the entire board was later accused by the Office of Federal Housing Enterprise Oversight (OFHEO) (click here to read) of having “failed in its duty to follow up on matters brought to its attention.”

In a statement to ABCNews.com, a spokesperson said Emanuel served on the board for “13 months-a relatively short period of time.”

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Tags: Banks, Barack Obama, Congress, corporations, Economy, Freddie Mac, Politics, Rahm Emanuel, U.S.

From the Scorched Earth Files:

Andrew Lahde, manager of a small California hedge fund, Lahde Capital, burst into the spotlight last year after his one-year-old fund returned 866 percent betting against the subprime collapse.

Last month, he did the unthinkable — he shut things down, claiming dealing with his bank counterparties had become too risky. Today, Lahde passed along his “goodbye” letter, a rollicking missive on everything from greed to economic philosophy. Enjoy.

Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.

Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, “What I have learned about the hedge fund business is that I hate it.” I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.

There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.

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Tags: corporations, Economy, Funny, Government, hedge funds, Hemp, Linux, Microsoft, Politics, Society, Stock Market, Wall Street

Related: Zeitgeist, The Movie, Final Edition

Added: Oct 3, 2008

Source: Google Video

Tags: bankruptcy, Banks, Barack Obama, Church, CIA, Congress, corporations, crime, debt, Documentary, Dollar, Economy, election, Fascism, Fed, Federal Reserve, Government, Iraq, Jiddu Krishnamurti, John McCain, John Perkins, Military, New World Order, Nuclear weapons, Oil, Politics, Religion, Ron Paul, Saddam Hussein, Society, U.S., War

Salam Adhoob, former investigator for Iraq’s Commission on Public Integrity, at the Democratic Policy Committee hearing on waste and fraud in Iraq. (By Susan Walsh — Associated Press)

A former Iraqi official estimated yesterday that more than $13 billion meant for reconstruction projects in Iraq was wasted or stolen through elaborate fraud schemes.

Salam Adhoob, a former chief investigator for Iraq’s Commission on Public Integrity, told the Senate Democratic Policy Committee, an arm of the Democratic caucus, that an Iraqi auditing bureau “could not properly account for” the money.

While many of the projects audited “were not needed — and many were never built,” he said, “this very real fact remains: Billions of American dollars that paid for these projects are now gone.”

He said a report that went to Iraqi Prime Minister Nouri al-Maliki and other top Iraqi officials was never published because “nobody cares” about investigating such cases. Many investigators, he said, feared for their safety because 32 of his co-workers have been murdered.

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Tags: Al-Qaeda, Al-Qaida, Congress, contractor, corporations, corruption, FBI, fraud, Government, Iraq, Politics, taxpayers, U.S.

BEIJING (AFP) - China’s tainted milk scandal spiralled into uncharted territory Monday with the government announcing that up to 53,000 children had been sickened and its top product-quality inspector sacked.

In a dramatic update of previous figures, the health ministry said a total of 52,857 children were taken to hospital after drinking milk thought to have been contaminated by the industrial chemical melamine.

Most had “basically recovered” after developing kidney stones, the main symptom of drinking the tainted milk, but 12,892 of them remained in hospital, a health ministry official told AFP.

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Tags: babies, chemicals, children, China, contamination, corporations, Economy, Food, Government, Health, kidney failure, milk, Politics, toxic, toxicity, U.N., WHO

Paulson, Bernanke, and Congress are conspiring to make the US taxpayer the fall guy for financial stupidity by banks and brokers. Congress is now willing to ram through legislation at the last moment, even though Senate Majority Leader Reid Says “No One Knows What to Do”.

Please consider Paulson, Bernanke Push New Proposal to Cleanse Balance Sheets (at taxpayer expense).

U.S. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke proposed moving troubled assets from the balance sheets of American financial companies into a new institution.

Congressional leaders who met with Paulson and Bernanke late yesterday in Washington said they aim to pass legislation soon. The initiative, which may also insure money-market funds, is aimed at removing the devalued mortgage-linked assets at the root of the worst credit crisis since the Great Depression.

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Tags: Banks, Ben Bernanke, Congress, corporations, Credit Crisis, credit crunch, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Government, Great Depression, Henry Paulson, Lehman Brothers, mortgage crisis, Mortgages, Politics, Ron Paul, taxpayers, Treasury, U.S., Wall Street

“There are 5 giant multinational corporations who control all 14.000 radio stations in America, all 5.000 TV Stations, 80% of our newspapers, all of our billboards and most of the large internet content providers.”

Source: YouTube

Tags: Bush administration, Corporate Media, corporations, Economy, George Bush, Government, media, Politics, Robert F. Kennedy Jr., U.S.

A child receives an ultrasonic inspection for kidney stones at a children’s hospital in Chengdu, in southwest China’s Sichuan province Friday, Sept. 19, 2008.

BEIJING (AP) - China’s tainted milk crisis widened Friday after tests found the industrial chemical melamine in liquid milk produced by three of the country’s leading dairy companies, the quality watchdog said.

Singapore suspended the sale and import of all Chinese milk and dairy products because several tested items were contaminated.

Tainted baby formula has been blamed for killing four infants and sickening 6,200 in China since the scandal broke last week. Some 1,300 babies, mostly newborns, are currently in hospitals and 158 of them are suffering from acute kidney failure. Thousands of parents across the country were bringing their children to hospitals for health checks.

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Tags: babies, chemicals, children, China, contamination, corporations, Economy, Food, Government, Health, kidney failure, milk, Politics, Singapore, toxic, toxicity