Monday, April 19, 2010
September 2007: Financial terrorism strikes
Terrorism is the systematic use of terror especially as a means of coercion. At present, there is no internationally agreed definition of terrorism. Coercion is the practice of forcing another party to behave in an involuntary manner.
Now we know the truth. The financial meltdown wasn't a mistake
Meltdown of Twins was act of terrorism, meltdown of World financial system was .... just a meltdown.
A court-appointed examiner found that collapsed investment bank Lehman knowingly manipulated its balance sheet to make it look stronger than it was – accounts originally audited by the British firm Ernst and Young and given the legal green light by the British firm Linklaters. In Switzerland UBS has been defending itself from the US's Inland Revenue Service for allegedly running 17,000 offshore accounts to evade tax. Be sure there are more revelations to come – except in saintly Britain.
September 2007 Funding problems at Northern Rock triggers the first run on a British bank. It is nationalized in February 2008.
April 2008 Bear Stern faces bankruptcy after a run on the company wipes out cash reserves in less than two days. Backed by the Federal Reserve, JPMorgan buys up shares at far below market value.
September 2008 Lehman Brothers files for bankruptcy protection, becoming the first major bank to collapse since the start of the credit crisis.
December 2008 Bernard Madoff arrested for operating the largest Ponzi scheme in history.
January 2009 The Bank of England launches £200bn quantitative easing.
March 2010 Former chairman of Anglo Irish bank Sean Fitzpatrick is arrested in Dublin after failing to disclose details of loans worth millions from the bank.
April 2010 Northern Rock former directors, David Baker and Richard Barclay, are fined £504,000 and £140,000 for deliberately misleading analysts prior to nationalization.
April 2010 The US Securities and Exchange Commission accuses Goldman Sachs of "defrauding investors by misstating and omitting key facts".
Now we know the truth. The financial meltdown wasn't a mistake
Meltdown of Twins was act of terrorism, meltdown of World financial system was .... just a meltdown.
A court-appointed examiner found that collapsed investment bank Lehman knowingly manipulated its balance sheet to make it look stronger than it was – accounts originally audited by the British firm Ernst and Young and given the legal green light by the British firm Linklaters. In Switzerland UBS has been defending itself from the US's Inland Revenue Service for allegedly running 17,000 offshore accounts to evade tax. Be sure there are more revelations to come – except in saintly Britain.
September 2007 Funding problems at Northern Rock triggers the first run on a British bank. It is nationalized in February 2008.
April 2008 Bear Stern faces bankruptcy after a run on the company wipes out cash reserves in less than two days. Backed by the Federal Reserve, JPMorgan buys up shares at far below market value.
September 2008 Lehman Brothers files for bankruptcy protection, becoming the first major bank to collapse since the start of the credit crisis.
December 2008 Bernard Madoff arrested for operating the largest Ponzi scheme in history.
January 2009 The Bank of England launches £200bn quantitative easing.
March 2010 Former chairman of Anglo Irish bank Sean Fitzpatrick is arrested in Dublin after failing to disclose details of loans worth millions from the bank.
April 2010 Northern Rock former directors, David Baker and Richard Barclay, are fined £504,000 and £140,000 for deliberately misleading analysts prior to nationalization.
April 2010 The US Securities and Exchange Commission accuses Goldman Sachs of "defrauding investors by misstating and omitting key facts".
THIS LINK posted by Joseph Bell : 11:03 AM
