Federal contract fraud crackdown has loophole Plan to make contractors report abuse exempts Iraq, other overseas work
President Bush in his own words A look at the quotable foreign policy speeches that define George W. Bush’s presidency. Produced by Kevin Flynn and Lisa Desai. MSNBC.com
updated 9:14 p.m. ET Feb. 12, 2008 WASHINGTON - A Bush administration plan to crack down on contract fraud has a multibillion-dollar loophole: The proposal to force companies to report abuse of (…)
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Federal contract fraud crackdown / to make contractors report abuzes
14 February 2008 par (Open-Publishing)
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The Financial Tsunami, Part IV by F. William ENGDAHL
8 February 2008 par (Open-Publishing)
GlobalResearch.ca
Financial Crisis: Asset Securitization— The Last Tango
Endgame: Unregulated Private Money Creation
What had emerged going into the new millennium after the 1999 repeal of Glass-Steagall was an awesome transformation of American credit markets into what was soon to become the world’s greatest unregulated private money creation machine.
The New Finance was built on an incestuous, interlocking, if informal, cartel of players, all reading from the script written by Alan (…) -
A trillion-dollar smile
6 February 2008 par (Open-Publishing)
A trillion-dollar smile
By The Mogambo Guru
Feb 5, 2008
No sooner had I sat down than Jim Willie of the Hat Trick Letter said, "The total of all US$-based mortgage bonds is $10.4 trillion." Well, immediately, I am lost and confused, as I thought that this was a free, "get acquainted" luncheon, and anyway, I cannot conceive of such a large number as a trillion, so let’s move on to another topic, such as "Where is the food and is there an open bar?"
But optimistically thinking that (…) -
Fragile Dollar Hegemony: Iran’s Oil Bourse could Topple the Dollar
5 February 2008 par (Open-Publishing)
1 commentFragile Dollar Hegemony: Iran’s Oil Bourse could Topple the Dollar
By Mike Whitney
Global Research, February 4, 2008
Two weeks ago George Bush was sent on a mission to the Middle East to deliver a horse’s head. We all remember the disturbing scene in Francis Ford Coppola’s “The Godfather” where Lucca Brassi goes to Hollywood to convince a recalcitrant movie producer to use Don Corleone’s nephew in his next film. The “Big shot” producer is finally persuaded to hire the young actor after (…) -
Something Had to Give
3 February 2008 par (Open-Publishing)
How Oil Burst the American Bubble By Michael T. Klare
The economic bubble that lifted the stock market to dizzying heights was sustained as much by cheap oil as by cheap (often fraudulent) mortgages. Likewise, the collapse of the bubble was caused as much by costly (often imported) oil as by record defaults on those improvident mortgages. Oil, in fact, has played a critical, if little commented upon, role in America’s current economic enfeeblement — and it will continue to drain the (…) -
Europe’s Enron moment has arrived
30 January 2008 par (Open-Publishing)
SOCIÉTÉ GÉNÉRALE’S TRADING SCANDAL by DOUG SAUNDERS
LONDON — As Nicolas Sarkozy and Gordon Brown met for dinner in London last night, there was a distinct sense that both leaders were having an Enron moment: The sudden realization that the country’s most-respected industries are going to need more government oversight.
Both the French President and the British Prime Minister, who met to discuss the rattling economy and banking crises in an emergency summit with other European leaders, (…) -
The Financial Tsunami: The Financial Foundations of the American Century
29 January 2008 par (Open-Publishing)
Global Research January 16, 2008
F. William Engdahl
The ongoing and deepening global financial crisis, nominally triggered in July 2007 by an event involving a small German bank holding securitized assets backed by USA sub-prime real estate mortgages, can best be understood as an essential part of an historical process dating back to the end of the Second World War—the rise and decline of the American Century.
The American Century, proudly proclaimed by Time-Life founder and (…) -
Doubts over French bank’s version of multi-billion euro scam
26 January 2008 par (Open-Publishing)
Doubts over French bank’s version of multi-billion euro scam
Paris, January 26, 2008
Analysts have expressed doubts over Societe Generale’s declaration that a single rogue trader was responsible for the fraud that cost it 4.9 billion euros ($7.1 billion).
"If you know the control procedures very well, then it is possible to elude them for a few days, maybe a few weeks. But it’s hard to believe that he did this for a year," economist Elie Cohen told France-Info radio Friday.
If the (…) -
YOU SHOULD BE WARY OF THIS MARKET REBOUND
25 January 2008 par (Open-Publishing)
1 commentYOU SHOULD BE WARY OF THIS MARKET REBOUND
By JOHN CRUDELE
January 24, 2008 —
IT’S a miracle - two days in a row.
The stock market was going to hell again yesterday when suddenly - out of a cloud of dust and a hearty Hi-Ho Silver - someone came to the rescue.
You are going to read elsewhere that investors, at precisely 12:44 p.m. yesterday, got the urge to buy enormous amounts of equities because of some mass and simultaneous belief that stocks had gone down enough.
And (…) -
Australian Markets Lose $300 Billion In 21 Days
23 January 2008 par (Open-Publishing)
Australian Markets Lose $300 Billion In 21 Days
$110 Billion Worth Of Investors Savings Wiped Out In One Morning
Last Friday Reserve Bank Said ’No Need To Panic’, So How About Now?
If anyone tries to tell you, "No-one saw this coming," tell them they’re full of shit. The real players on the Australian stock market saw this horror story coming and pulled out, or shifted, their money months ago. Those who could afford to do so, anyway. Others with millions to play with laid bets that the (…)