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Federal contract fraud crackdown / to make contractors report abuzes
Thursday February 14, 2008
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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The Financial Tsunami, Part IV by F. William ENGDAHL
By : Internationalnews - Friday February 8, 2008
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 (...)
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A trillion-dollar smile
By : Mogambo Guru - Wednesday February 6, 2008
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 (...)
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Fragile Dollar Hegemony: Iran’s Oil Bourse could Topple the Dollar
By : Mike Whitney - Tuesday February 5, 2008
1 comment
Fragile 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 (...)
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Something Had to Give
By : Michael T. Klare - Sunday February 3, 2008
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 (...)
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Europe’s Enron moment has arrived
By : TRADING SCANDAL - Wednesday January 30, 2008
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 (...)
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The Financial Tsunami: The Financial Foundations of the American Century
By : InternationalNews - Tuesday January 29, 2008
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 (...)
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Doubts over French bank’s version of multi-billion euro scam
By : Paris - Saturday January 26, 2008
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 (...)
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YOU SHOULD BE WARY OF THIS MARKET REBOUND
By : JOHN CRUDELE - Friday January 25, 2008
1 comment
YOU 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. (...)
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Australian Markets Lose $300 Billion In 21 Days
By : Australia - Wednesday January 23, 2008
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 (...)
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Top Economist Warns Of "Serious Breakdown" In World Financial System
By : Einer Für Alle, Alle Für Einen - Wednesday January 23, 2008
1 comment
Top Economist Warns Of "Serious Breakdown" In World Financial System Father of Reaganomics warns that massive interest rate cut could undermine dollar’s status as world reserve currency Paul Joseph Watson Prison Planet, Tuesday, January 22, 2008 Father of Reaganomics and former editor of the Wall Street Journal Paul Craig Roberts today warned that the Fed’s shock 75 basis points interest rate cut would only succeed in putting average families through the ringer and could (...)
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so it begins
By : Daveparts - Monday January 21, 2008
So It Begins By David Glenn Cox The run on the bank that George Bailey faced on his wedding day in, “It’s a wonderful Life” made him ask, “How did this start?” “I don’t know? How do these things ever start George.” But for us in 2008 the answer is simple yet complicated. It starts by outsourcing jobs and moving manufacturing over seas, naively believing your global competitors will be satisfied with just a piece of your business. That the (...)
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what would it look like if civilization had a nervous breakdown?
By : Dave Eriqat - Saturday January 19, 2008
Nervous breakdown Non-clinical definition: general term for various emotional disorders causing severe life disturbance. Symptoms: inability to cope. Causes: Extreme stress, emotional trauma, grieving, severe anxiety. I recently read a fascinating article that referred to a discipline known as ponerology. [1] It captivated me because I had never before considered the hypothesis it raised: that our systems of government and commercial enterprise across the globe have been irreparably (...)
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bony sends lawyer to $23bln trial
By : Anatoly Medetsky - Tuesday January 15, 2008
BoNY Sends Lawyer to $23Bln Trial By Anatoly Medetsky Staff Writer A legal representative for Bank of New York Mellon will appear for the first time in court to defend the bank against allegations as a $22.5 billion money-laundering case resumes Monday. The Federal Customs Service filed the lawsuit with the Moscow Arbitration Court in May — against the backdrop of chilling relations with the United States — but has taken a long time to present the bank with proper (...)
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Biggest Swiss Bank UBS May Be Split Up, Face More Writedowns
By : Einer Für Alle, Alle Für Einen - Monday January 14, 2008
Biggest Swiss Bank UBS May Be Split Up, Face More Writedowns By Carey Sargent Jan. 13 (Bloomberg) — UBS AG, Europe’s biggest bank by assets, may split its investment banking and money management operations into two separately traded companies, SonntagsZeitung reported, without saying where it got the information. The bank, based in Zurich, may also take another $5 billion to $8 billion in writedowns following the collapse of the U.S. subprime mortgage market, the newspaper (...)
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Cleveland sues 21 banks over subprime mess
By : Henry J. Gomez and Thomas Ott - Saturday January 12, 2008
Cleveland sues 21 banks over subprime mess Posted by Henry J. Gomez and Thomas Ott January 11, 2008 05:01AM Cleveland Mayor Frank Jackson took aim at Wall Street on Thursday with a lawsuit against 21 major investment banks that he said have enabled the subprime lending and foreclosure crisis here. The one-of-a-kind suit, filed in Cuyahoga County Common Pleas Court, accuses venerable institutions such as Deutsche Bank, Goldman Sachs, Merrill Lynch and Wells Fargo of creating a public (...)
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Wall Street Imploding over Credit Concerns
By : Rick Gagliano - Saturday January 12, 2008
Wall Street was in retreat mode from the opening to closing bells on Friday as investors sold stocks amid an ongoing credit and banking crisis. Today’s headliners were American Express (AXP) and Merrill Lynch (MER), both of which were seen suffering the consequences of an eroding US economy. American Express was down more than 10% as the company warned that it would miss first quarter analyst estimates due to having to bolster reserves for delinquent credit card users. Stocks of (...)
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Giant Write-Down Is Seen for Merrill
By : Einer Für Alle, Alle Für Einen - Friday January 11, 2008
Giant Write-Down Is Seen for Merrill January 11, 2008 By JULIA WERDIGIER and JENNY ANDERSON Merrill Lynch is expected to suffer $15 billion in losses stemming from soured mortgage investments, almost double its original estimate, prompting the firm to raise additional capital from an outside investor. Merrill, the nation’s largest brokerage firm, is expected to disclose the huge write-down when it reports earnings next week, according to people who have been briefed on its plans. (...)
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Big four may lose $1bn loan to US firm
By : Australia - Friday January 11, 2008
Big four may lose $1bn loan to US firm Scott Murdoch | January 11, 2008 THE four major banks stand to lose most of the nearly $1 billion they invested in a troubled US mortgage group after agreeing to lend the money without any form of protection. The Commonwealth Bank and National Australia Bank pumped $300 million each into Countrywide Financial and were joined by ANZ with $150 million and Westpac with $120 million. Banking sources confirmed to The Australian yesterday that the (...)
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Japanese Stocks Tumble on Goldman U.S., Domestic Recession Call
By : Tokyo - Thursday January 10, 2008
Japanese Stocks Tumble on Goldman U.S., Domestic Recession Call By Patrick Rial and Satoshi Kawano Jan. 10 (Bloomberg) — Japanese stocks fell after Goldman Sachs Group Inc. said the domestic economy and that of the U.S., the world’s two largest, may be headed for recession, sparking concern company earnings will falter. Mitsubishi UFJ Financial Group Inc. led banks lower after the Wall Street Journal said Citigroup Inc. and Merrill Lynch & Co. are seeking additional (...)
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DAZIBAO
I, European citizen, won’t let refugees be rejected in my name
Thursday 10 March
©Olivier Jobard/Myop I, European citizen, won’t let refugees be rejected in my name THE RIGHT TO ASYLUM IS A RIGHT In the phrase « right to asylum », every word matters. Under the law, every person who is persecuted because of his or her political opinions or because of his or her identity, every person that is endangered by violence, war or misery has a RIGHT to seek asylum in another country The aim of this petition is to collect (...)
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Neo-Nazis and far-right protesters in Ukraine 3 live-stream
Friday 24 January
2 comments
The far-right in Ukraine are acting as the vanguard of a protest movement that is being reported as pro-democracy. The situation on the ground is not as simple as pro-EU and trade versus pro-Putin and Russian hegemony in the region. When US Senator John McCain dined with Ukraine’s opposition leaders in December, he shared a table and later a stage with the leader of the extreme far-right Svoboda party Oleh Tyahnybok. This is Oleh Tyahnybok, he has claimed a "Moscow-Jewish mafia" (...)
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Hugo Chavez is dead (video live)
Wednesday 6 March
by : Collective BELLACIAO
1 comment
President Hugo Chavez companeros venezueliano died after a long battle with cancer.
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International initiative to stop the war in Syria Yes to democracy, no to foreign intervention!
Thursday 13 December
Your support here: http://www.peaceinsyria.org/support.php We, the undersigned, who are part of an international civil society increasingly worried about the awful bloodshed of the Syrian people, are supporting a political initiative based on the results of a fact-finding mission which some of our colleagues undertook to Beirut and Damascus in September 2012. This initiative consists in calling for a delegation of highranking personalities and public figures to go to Syria in order to (...)
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THE KU KLUX KLAN ONCE AGAIN CONTROLS INDIANA
Monday 12 November
by : David R. Hoffman, Legal Editor of Pravda.Ru
7 comments
At first glance, the results of America’s 2012 election appear to be a triumph for social, racial, and economic justice and progress in the United States: California voters passed a proposition requiring the rich to shoulder their fair share of the tax burden; Two states, Colorado and Washington, legalized the recreational use of marijuana, while Massachusetts approved the use of marijuana for medical purposes; Washington and two other states, Maine and Maryland, legalized same-sex (...)
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I’VE DECIDED TO "WASTE" MY VOTE
Sunday 28 October
by : David R. Hoffman, Legal Editor of Pravda.Ru
In a 2004 episode of Comedy Central’s animated series South Park, an election was held to determine whether the new mascot for the town’s elementary school would be a “giant douche” or a “turd sandwich.” Confronted with these two equally unpalatable choices, one child, Stan Marsh, refused to vote at all, which resulted in his ostracization and subsequent banishment from the town. Although this satirical vulgarity was intended as a commentary on the two (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART IV
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART II PART III If there is one major inconsistency in life, it is that young people who know little more than family, friends and school are suddenly, at the age of eighteen, supposed to decide what they want to do for the rest of their lives. Unfortunately, because of their limited life experiences, the illusions they have about certain occupations do not always comport to the realities. I discovered this the first time I went to college. About a year into my studies, I (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART III
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART II PART IV Disillusioned with the machinations of so-called “traditional” colleges, I became an adjunct instructor at several “for-profit” colleges. Thanks largely to the power and pervasiveness of the Internet, “for-profit” colleges (hereinafter for-profits) have become a growing phenomenon in America. They have also been the subject of much political debate and the focus of a Frontline special entitled College Inc. Unlike traditional (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART II
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART I PART III PART IV Several years ago, a young lady came into the college where I was teaching to inquire about a full-time instructor’s position in the sociology department. She was advised that only adjunct positions were available. Her response was, “No thanks. Once an adjunct, always an adjunct.” Her words still echo in my mind. Even as colleges and universities raise their tuition costs, they are relying more and more on adjunct instructors. Adjuncts are (...)
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HIGHER EDUCATION IN AMERICA: DREAM OR NIGHTMARE? PART I
Friday 28 September
by : David R. Hoffman, Legal Editor of Pravda.Ru
PART II PART III PART IV When The Bill of Rights was added to the United States Constitution over two hundred years ago, Americans were blessed with many rights considered to be “fundamental.” One conspicuously missing, however, was the right to an education. This was not surprising given the tenor of the times. America was primarily an agrarian culture, and education, especially higher education, was viewed as a privilege reserved for the children of the rich and (...)
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ONE SOLITARY LIFE, PART TWO
Monday 30 July
by : David R. Hoffman, Legal Editor of Pravda.Ru
3 comments
If there is one universal question that haunts all human beings at some point in their lives, it is, “Why do we die?” Death, after all, is the great illogic. It ultimately claims all, the rich and the poor, the mighty and the small, the good and the evil. Death also has the capability to make most human pursuits—such as the quest for wealth, fame and power—vacuous and fleeting. Given this reality, I have often wondered why so many people are still willing to (...)
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HOW MUCH CORRUPTION CAN DEMOCRACY ENDURE?
Thursday 28 June
by : David R. Hoffman, Legal Editor of Pravda.Ru
6 comments
How much corruption can a “democracy” endure before it ceases to be a democracy? If five venal, mendacious, duplicitous, amoral, biased and (dare I say it) satanic Supreme Court “justices”—John Roberts, Samuel Alito, Antonin Scalia, Clarence Thomas and Anthony Kennedy—have their way, America will soon find out. In several previous articles for Pravda.Ru, I have consistently warned how the Supreme Court’s 2010 Citizens United decision is one of the (...)
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DEMOCRACY IN THE HANDS OF IDIOTS, PART TWO
Tuesday 12 June
by : David R. Hoffman, Legal Editor of Pravda.Ru
1 comment
Imagine, if you will, that the United States government passes a law banning advertisers from sponsoring commercials on Rush Limbaugh’s radio show or Rupert Murdoch’s Fox (Faux) “News” Network. On one hand, there would be two decided advantages to this ban: The National IQ would undoubtedly increase several percentage points, and manipulative pseudo-journalists would no longer be able to appeal to the basest instincts in human nature for ratings and profit while (...)
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DEMOCRACY IN THE HANDS OF IDIOTS
Thursday 7 June
by : David R. Hoffman, Pravda.Ru Legal Editor
4 comments
LIVE, from the State that brought you Senator Joseph McCarthy, Wisconsin voters now proudly present, fresh from his recall election victory, Governor Scott Walker! At first glance, it is almost unfathomable that anyone with a modicum of intelligence would have voted to retain Scott Walker as Wisconsin’s governor. This, after all, is a man who openly declared he is trying to destroy the rights of workers through a “divide and conquer” strategy; who received 61% of the (...)
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PEOPLE WITHOUT SOULS
Tuesday 13 March
by : David R. Hoffman, Legal Editor of Pravda.Ru
2 comments
A question I’ve frequently been asked since I began writing for Pravda.Ru in 2003 is, “Why did you become disillusioned with the practice of law?” This question is understandable, particularly since, in most people’s minds, being an attorney is synonymous with wealth and political power. I’ve always been reluctant to answer this question for fear it will discourage conscientious and ethical people from pursuing careers in the legal profession—a (...)
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