ISRAELI-CHINESE MEGALITHIC "INFINITY GROUP"

Chinese say to ISRAEL, "Liquify Me!!"


Founded in 1993 and backed by prominent partners and investors such as the China Development Bank and Clal Industries, Infinity Group has a solid reputation as a leading platform for fund management with an impressive track record for sharing the added value of know-how and technology cooperation which has resulted in notable exits from companies such as Galileo, Saifun, Shopping.com, ShellCase, Scitex Vision, Digital China and Oberon Media, among others. Infinity Group has also made successful investments in tens of leading Chinese companies including WLCSP, I-China Security, United Water, Ya’an technology, Anxin Security, THT, China Medicine, Jiupai Pharmaceutical, Xinbai Pharmaceutical, Harbin 1st Tool and Ningbo Eston Technology. Infinity is considered the world’s leading cross-border, Chinese focused management group with over 1.5 billion USD under management through 23 funds in China. Infinity focuses on creating mutually beneficial relationships that combine ingenuity in a wide variety of industries with the Chinese business acumen and its fast growing market. Infinity manages and invests in advanced Chinese-Israeli-North American companies seeking to enhance their existing business activities in China. Infinity looks for Chinese operational enterprises that display well established entrepreneurial, sales and production skills, and which are seeking cutting-edge technology and knowhow. The management team is located in China, Israel and the U.S. free hit counter

update 2018 for THE ADRIAN REPORT on Fannie Mae & Goldman Sachs & Their Circles of Friends, 1999 to 2009, the Deadly Decade!


THE FEDERAL RESERVE IS OUT TO MONETIZE YOUR SOUL INTO NON-NEGOTIABLE TOILET PAPER



Recently the editors of this report added a few updates from 2017



click to read GOD OF WAR & MERCHANTS OF DEATH.....here
KABBALA

MASHIACH


see the Mashiach video here!....

IndyMac Bank was founded as Countrywide

Mortgage Investment by David S. Loeb and Angelo Mozilo in 1985 as a means of 'collateralizing' Countrywide Financial loans too suspiciously large to be sold to Freddie Mac and Fannie Mae. In 1997, Countrywide spun off IndyMac as an independent company run by Mike Perry who remained its CEO until the collapse of the bank in July 2008. "Mac" derives from "Mortgage Corporation", usually associated with GSEs -- Government sponsored entities -- such as "Freddie Mac" (Federal Home Loan Mortgage Corporation). Indymac is not a government agency it is private corporation with no relationship to the government. Fannie Mae and Freddie Mac are not government bodies either. A major cause of IndyMac’s failure was associated with its business strategy of originating and securitizing highly risky and reckless Alt-A loans on a large scale to Spanish speaking Mexicans. IndyMac’s rapacious growth strategy incorporated the use of Alt-A and other nontraditional loan products, insufficient underwriting, credit concentrations in residential real estate in the California and Florida markets, and heavy reliance on costly funds borrowed from the Federal Home Loan Bank (FHLB). IndyMac often made huge loans without verification of the borrower’s income or assets or job history, and to borrowers with dirt poor credit histories, even to those with bankruptcy histories.

Both Democrats & Republicans brought these Liar's Loans disasters upon "us" in the U.S., and both parties have been keeping it and its brushfire ramifications going on & on, for example Uncle Sam's & Aunt Jinsa's never ending wars and weapons deals, almost immortal in their perpetuity, and despite that the democrats were the initial "enablers" of the give-away half million dollar home mortgage liars' loans to millions and millions of minorities & illegals lacking a credit history and/or a job, and taking into account GW Sr and his son Junior's triggering and gifting to the copycat democrats so many endless wars, both parties are equally responsible for our national dirtbag mess, and both parties must be weaned from the poisoned milk teats ever exposed in their brothel of unscrupulous lobbies, lobbies whose venality and greed stand out as conspicuously as herpes blisters

Democratic and Republican officials in successive administrations have for many years repeatedly denied that the trillions of dollars of debt Fannie and Freddie issued is guaranteed. Some people and blogs and reports seem to indicate FANNIE MAE is only a Democrat created financial disaster and scandal. No way Ray. Despite that democrats Sen. Chuck Schumer and Sen. Barney Frank have their fingerprints all over the scene of the Fannie Mae & Freddie Mac felonies against the US people, both Republicans Newt Gingrich and Robert Zoellick took up key positions with Fannie Mae during its heyday. Let’s not forget the COUNTRYWIDE role in this with their “Fast & Easy” pre-2008 federal home loans, paid out by commercial CountryWide but in the end, after “feces funds” hit the fan, the federal government, i.e. the U.S. taxpayers, had to pick up the tab of the non-payments on the loans, in the trillions, with the now infamous federal bailouts. Not one record has been released documenting this long running scam, via the FOIA rules and procedures which were written to protect democracy and the citizens of the nation. Does that surprise anyone?

China has never disclosed the size of its holdings of Fannie and Freddie securities, but according to the U.S Treasury’s report on foreign holdings of U.S. securities, China held $454 billion of long-term U.S. agency debt as of June 30, 2009.  China has been using Belgian holdings, an offshore center used extensively by China to mask its selling off and dumping of U.S. Treasury bills, bonds, and notes, which in theory were created to back up and protect the dollar.

Now in 2017, Japan is holding more of the T-Bills than China, and suddenly they are printing money without any backing just like the U.S. Federal Reserve! China's huge holdings of U.S. debt fell to $1.12 trillion at the end of October 2016, their lowest level in more than six years, according to U.S. Treasury Department data. Japan holds $1.13 trillion of U.S. colossal debt. This bubble is gonna burst real soon and it won’t be pretty. How would the U.S. afford its global military empire after the bursting? They won’t be able. Unless they precipitate World War 3, which would in all likelihood involve nuclear bombs exchanges. Now might be a good time to enlist the peacekeeping skills of soft power diplomat Benjamin the Bomb Netanyahu? Wrong!

short interview with the director John Titus of the film ALL THE PLENARY’S MEN (very stimulating and easy to grasp)

https://www.youtube.com/watch?v=0JoRlZV6fdU

EDITOR’S NOTE June 2017

Observers suggest that foreign investors have the U.S. over a barrel because they own at a minimum 43 percent of Treasuries outstanding.

U.S. private investors have stepped in when China and Japan are unloading U.S. T-bills and Treasuries which shows that pension funds are not always putting the money of their employees into U.S. “agency funds” they are also at times purchasing Treasuries when foreign central banks are dumping them. China had been selling off U.S. mortgage bonds at a rapid clip and China is no longer the largest owner of securities, often mixed in complicated financial packages with Fannie Mae and Freddie Mac, as of January 2017. China has been vastly shedding U.S. Treasury bonds since the Crash of 2008 in which US taxpayers bailed out the fiscally foolish commercial home mortgage players Fannie and Freddie, as if they were real federal agencies. Previously buying and selling dollar-denominated securities like U.S. Treasury or mortgage bonds had been a preferred method for foreign governments to weaken or strengthen their currencies. Buying mortgage bonds marked China’s first major foray into the U.S. real estate market in the early 2000s. More recently, Chinese institutions have been investing heavily in commercial real estate properties, particularly in New York. Washington's relationship with Fannie and Freddie is a bit complicated. The government actually doesn't own any of the common shares that trade on Wall Street.

The Treasury Department has warrants that give it the right to a 79.9% ownership stake in Fannie Mae & Freddie Mac. But the government has not exercised those warrants.

So who owns the shares of Fannie and Freddie that trade on Wall Street? Mutual fund giant Fidelity has big stakes in the stocks of both companies.

Bill Ackman's Pershing Square is the largest investor in Fannie and also has a stake in Freddie. Fairholme Funds, managed by Bruce Berkowitz, owns preferred stakes in both.

Fannie's capital reserves were $600 million at the end of 2016 but are expected to be nil in 2018. U.S. Treasury debt is at a minimum estimated to be $60 trillion dollars.

On September 22, 2004, the OFHEO released “Special Examination of Fannie Mae”. Between 1994 and 2004, according to the report, Fannie Mae improperly reported $10.6 billion in earnings. Franklin Raines resigned as Fannie CEO in a cloud of malfeasance. In the 109th Congress of 2005, there were 55 Republican Senators which means that five Democrats would have to support the GSE regulatory bill being designed to hog tie Fannie & Freddie. Chris Dodd (D-CT), ranking Democrat on the Senate Committee for Banking, Housing and Urban Affairs recommended opposition to the regulatory bill restraining Fannie & Freddie. For years, EZ huge home loans had been paid out to illegal Mexican immigrants and other near broke high risk recipients, home loans on an average of $600,000 at super low interest and no money down. Every one of Mr. Dodd’s Democrats had opposed the reform bill in committee, and not one Democrat from the larger Senate offered support to bring this arresting legislation to the floor. Barack Obama (D-IL) joined the Senate in January 2005 and was among the people supporting the “filibuster” against checks and balances on Fannie and Freddie.

Despite all this grandstanding of Republicans in the Fannie and Freddie debacle, as if they are fiscally responsible and had no role also in this fiasco on a global scale ( https://tjhancock.wordpress.com/housing-bubble-financial-crisis-detailed-comprehensive-assessment/ ), lobbyists have long been making it certain that both Republican and Democrat allied businesses and bankers and investors benefited from this raw deal for the US taxpayers, so any grand theater of reform of the Republicans is just that, stage acting.

This is a good example and a perfect trope for how almost all of Washington Congressional activity is a play by play distraction of the American public’s attention span, while the lobbies spend all their tax money for their clients and their sinfully obese profits at the expense of the national Treasury. Mixing up United States T-bills and Treasury bonds and Treasury notes with bad debt and “agency” trillion dollar losses, has put China in the driver’s seat as the leader of the world, for at least a decade in a half already. If there had not been collusion between the two Congressional parties, regarding Fannie and Freddie (and Sallie Mae), the Pentagon would be broke also, without all the loans made to the US Treasury from China and other foreign nations, via buying up Treasuries and agency debt hand over fist right up to the cusp of the Crash of 2008, and still afterwards!

It will be interesting to watch how Congress finds money under Trump when the Republicans put on a show that they are trying to uncouple Fannie and Freddie from taxpayer bailouts another time. Additionally, it will be interesting to see if U.S. gold is ever audited and accounted for, it seems to have gravitated to other shores and U.S. taxpayers and investors and government have been left holding paper receipts, like gold colored IOUs in a $10 board game.

Owing to its control of the mortgage markets, the U.S. government mandated that Fannie Mae and Freddie Mac have no capital at all by December 31, 2017. To make this happen, the Treasury Department has taken all of the two companies’ earnings every quarter, resulting in both companies being now insolvent.

Neither of the two big debt agencies have any common equity. Likewise, the junior preferreds in both Fannie and Freddie have no value because the government has eliminated all prospects of their receiving dividends. The adjusted equity in Fannie and Freddie are negatives, as a percent of assets. This means the future of USA is negative also. Meanwhile, the Federal Reserve Bank Agency, also not a federal body but a private commercial network agency, just keeps printing billions and billions of fresh U.S. dollars, for the benefit, of …. Who?? ***

SALLIE MAE-NAVIENT aka SLM Corp--
TRILLIONS DOLLARS SWINDLE BUBBLE Just Waiting to Burst same as the Home Loan Mortgage Fannie Mae Swindles that created CRASH OF 2008!

On September 17, 2010, it was announced that Sallie Mae will acquire federally insured loans from Citigroup-owned Student Loan Corporation worth $28 billion. On Feb 25, 2014, Sallie Mae (aka SLM Corp) announced the new name for the student loan side which will be called "Navient". Navient now manages nearly $300 billion in student loans for more than 12 million customers, the company was formed in 2014 by the split of Sallie Mae into two distinct entities, Sallie Mae Bank and Navient. It seems around this time Sallie Mae sold off all her student loan assets and then bought them back again under their new business name change to Navient, and thereby avoided many lawsuits and prosecutions and it is the same ole same ole Sallie Mae swindle and rake off that it was, but now with a face lift and name change to NAVIENT. Already by In August 2015, the Consumer Financial Protection Bureau sent Navient a letter telling its executives that the agency's enforcement staff had found enough evidence to indicate the company violated consumer protection laws. On May 28, 2015, the United States Department of Justice announced that nearly 78,000 military service members would begin receiving $60 million in compensation for being charged excess interest on their student loans by Navient.

National student loan debt has climbed to $1.4 trillion as of 2017

In June 2016, stockholders filed a class action lawsuit against Navient. The plaintiffs included Chicago police officers and retired city employees in Providence, Rhode Island. Up to 2017, already "tens of thousands" of complaints were filed against Navient. In 2017, 6,708 federal complaints were filed about the company, in addition to 4,185 private complaints – more than any other student loan lender in the history of the world.

The Crony Capitalism of Sallie Mae, July 2013

https://reason.org/wp-content/uploads/files/sallie_mae_cronyism.pdf

How SALLIE MAE (aka SLM Corp) College Loans Got So Evil, a video

https://www.youtube.com/watch?v=pVKEsiNMPNc

July 2018 -- Navient, the Delaware-based student loan management corporation formerly known as Sallie Mae, is being sued by California’s Attorney General Xavier Becerra. In a suit filed Thursday, Becerra accused Navient, the nation’s largest student loan servicer, of cheating thousands of borrowers and forcing them to repay more than they owed. Becerra’s suit alleges that borrowers were steered toward repayment plans that exceeded their income levels, and that in some cases, Navient misrepresented how much borrowers owed. When forced to pay more than they owed, many borrowers then defaulted on their student loans. “By taking Navient to court, we’re sending a very strong message that these practices will not be tolerated,” he said before the filing, according to the San Francisco Chronicle.

National student loan debt has climbed to $1.4 trillion as of 2017

In February 2007, New York Attorney General’s office launched an investigation into deceptive lending practices by student loan providers, including The College Board, EduCap, Nelnet, Citibank, and Sallie Mae.. On October 10, 2007, documents surfaced showing that Sallie Mae was attempting to use the Freedom of Information Act to force colleges to turn over students' personal information to unfriendly predatory hands. The university involved was SUNY, State University of New York, which declined the request and was forced to defend its position in court. In December 2007, a class action lawsuit was brought against Sallie Mae in a Connecticut federal court alleging that SALLIE MAE discriminated against African American student loan applicants by charging them much higher interest rates and fees. The lawsuit also alleged that Sallie Mae failed to properly disclose profit gouging terms in student loans to unsuspecting students. Finally, under the terms of a settlement, Sallie Mae agreed to make a $500,000 donation to the United Negro College Fund and the attorneys for the plaintiffs received a whopping and handsome $1.8 million in attorneys' fees for being the erudite middlemen. (Wikipedia)

***

CHRIS HEDGES writes in "Truth Dig", Jan. 1, 2017

"The Trump transition team is busy anointing its coterie of kleptocrats. The appointment of Betsy DeVos (from a family with a net worth in excess of $5 billion) to become secretary of education means she will oversee the more than $70 billion spent annually on the Department of Education. DeVos—the sister of Eric Prince, who founded the notorious private security firm Blackwater Worldwide—has no direct experience as an educator. She promoted a series of for-profit charter schools in Michigan that make money but have had dismal academic results. She sees vouchers as an effective tool to funnel government money into schools run by the Christian right. Her goal is to indoctrinate, not educate. She calls education reform a way to “advance God’s kingdom.” Trump has already proposed using $20 billion of the department’s budget for vouchers. The American system of public education, already crippled by funding cuts, will be destroyed if Trump and DeVos succeed. The Veterans Administration spends $152.7 billion a year on veterans’ benefits that include general health care and treatment in VA hospitals. Last week Trump publicly weighed allowing veterans to use the for-profit health care system. Cleveland Clinic CEO Toby Cosgrove (annual salary $2.3 million) is one of the front-runners to head the VA. “We think we have to have kind of a public-private option, because some vets love the VA,” he added. “Definitely an option on the table to have a system where potentially vets can choose either/or or all private.” Rep. Tom Price, a Georgia Republican (net worth $13 million), has been selected by Trump to be secretary of health and human services. He plans to abolish Obamacare. He said he expects the House to push for Medicare privatization “within the first six to eight months” of the Trump administration.

Steve Mnuchin (net worth $40 million), a former partner at Goldman Sachs and the president-elect’s choice to lead the Department of the Treasury, told Fox Business that “getting Fannie and Freddie out of government ownership” is one of the Trump administration’s top 10 priorities. This is also the stated goal of Trump’s choice for budget director, Rep. Mick Mulvaney (net worth $3 million), a Republican from South Carolina. The privatization of the government-backed mortgages would see financial institutions authorized to issue mortgage-backed securities that carry a government guarantee. If the mortgages failed under the privatization scheme, the taxpayer would foot the bill. If the mortgages succeeded, the banks would get the profit. The privatization plan amounts to the institutionalization of the 2008 government bailout for big banks. It could cost the taxpayer billions.

The biggest pot of gold is the $2.79 trillion contained in or owed to the Social Security fund. The kleptocrats will work hard under Trump to divert this money into the hands of hucksters and crooks on Wall Street. Tom Leppert (net worth $12 million), the former mayor of Dallas, whom Trump is expected to name to head the Social Security Administration, not surprisingly advocates the privatization of Social Security and Medicare. The infusion of this kind of liquidity into an overheated stock market would probably bring on a crash that would evaporate perhaps as much as 40 percent of the Social Security fund, rendering it insolvent.

Israel Infinity Venture

Infinity is a leading Israeli-Chinese equity fund managing many BILLIONS since 1993. The Fund leverages its strong network and experience in both Israel and China to bring added value to Israeli and Chinese companies. The Fund's core strategy is to invest in late-stage Israeli technology related companies with parallel investments in Hakka Chinese operational businesses that license Israeli technologies, adjust them to the needs of the Chinese market and market them in China. The Fund's partners include leading financial institutions in Israel, China, Europe and the US.

In partnership with the IDB Group and CSVC/SIP, Infinity received the first license ever awarded by the Chinese government to foreign investors to operate an on-shore fund (00001 registration number). The Fund has since been able to assist Israeli technology companies expand operations in the Chinese market by utilizing strategic relationships in China with governmental agencies, large corporations and private firms.

Historically, the Fund's performance has ranked in the top-tier of all global firms with successful exits in companies such as Galileo, ESC Medical, Saifun, Shopping.com, Scitex Vision, Sightline, Identify Software, AGT International, Beidahuang Group, Beijing Capital Group Co., Ltd, BOE Technology Group Co., Ltd., China Aerospace Science and Industry Corporation, CASIC, COFCO, Ichilov hospital (Tel Aviv Sourasky Medical Center- TASMC), Zhejiang University’s Insigma Technology Company Ltd, is a leader in the China-based IT services and outsourcing industry, LR Group - Agriculture Partner, Miya - Water Partners, Sanpower Group, Sheba Medical Center - Medical Partner, Sichuan Development Holding, Wahaha, WEGO, ZONGSHEN Industrial Group.

... this website is just one rather old man's small effort to make a layman's composite and historical "string" of many of the news events of the decade, which forced the Western World democracies to collapse and fold themselves like rolly pollies into the mere semblance of their former selves, whimpering in the corner, trembling at each new ...

Neocon assault on your freedom, your health, your economic survival, your happiness and freedom of artistic expression ...

 ... are all of us headed to the same fate as the Palestinians and Gazans??....this website endeavors to instill a 'remembrance of things past', in the links and excerpts below, which may give some of us yet, a prayer of a chance to survive what has befallen many of us already, before there is only One World Order, and not a good one.

Count each and every democratic freedom you still have and cherish it as a gift, for you may soon have to fight for each one of them, without the protection of our Constitution.


Over $44 TRILLION USD "VAPORIZED" [late 2008]


Update on the $12 trillion owed by U.S. Treasury to China, an Empress who does not want to lie in bed anymore alongside either Freddie nor Fannie, with only U.S. funny money dissolving treasury bonds in her hands, as a token of their many costumed liaison!

https://www.nytimes.com/2016/11/15/business/dealbook/fannie-and-freddies-status-continues-to-provoke-criticisms.html?_r=0


NEWS FLASH UPDATE, June 2015!


Harald Schumann On The Trail! This interview was recorded one year ago in June 2014, before Yanis Varoufakis became Finance Minister of Greece. Excerpts of the interview have been used within the film "The Trail Of The Troika" ... brilliant analysis and explanation by Varoufakis which ties in the Hank Paulson conducted U.S. crash of 2008 to the coming Greek Crash of 2015! Many of the same players!!!

Who is Yanis Varoufakis?

 

He has long described himself as a 'Libertarian '. He was born with a large silver serving spoon in his mouth and in a royal 24 carat gilded bed. His family has owned and run one of the biggest and wealthiest shipping and steel industries in Greece. He has lived outside of Greece almost as much as he has inside. He had been teaching game theory, the mathematical study of decision-making and of conflict and strategy in social situations, and classical economics for many years in Australia as an Australian citizen. His PhD dissertation was in economics using game theory analysis of industrial strikes in UK/USA and models of wage inflation. Varoufakis is a darling of the free market enthusiasts at The Adam Smith Institute, and also publicly admired by Bloomberg media as "brilliant". Why would a man like this give up a seemingly conservative successful past lifestyle, i.e. everything, to win a Syriza revolt on behalf of normal Greek people he has not even lived with for long? The American actor James Dean rode a motorcycle also in a black leather jacket, but was quite short sighted and needed very strong eyeglasses to read the handwriting on the wall. By stepping up to the plate for all Greek people and imbued with their most unrestrained trust, with bases loaded and two men out, and then trotting with tail between his legs away from the Troika with LESS than the Greek workers had before his historic sell-out meeting, it seems the day has come for Yanis Varoufakis to trade in his motorcycle for a pink, fluffy, flamingo befeathered seat, deluxe lady's silver-rimmed moped, and continue with his blogging online. Would anyone disagree?

 

***********************


TENT CITIES, aka "NeoCon-villes" ... just two pictured above ...



....there are more and more tent cities, aka NEOCON-TOWNS, one of them especially prominent in Sacramento, the State Capital of California

 

MAY 2015: There will be legions of tent cities in U.S. sooner than you think! Even the FHFAO Government Agency stated in no uncertain terms just before April 2015, that Fannie Mae and Freddie Mac will EXPLODE again, this time worse than late 2008, and the Fed Reserve will not be able to simply print xerox copy U.S. Treasury dollars again, not to cover $500 trillion (that's trillion, with a "t") worth of shakey U.S. dollar based abra cadabra financial instruments worldwide.

Federal Housing Finance Agency Office of Inspector General

FHGA OIG March 18 2015 major White Paper REPORT to Americans, titled,

"The Continued Profitability of Fannie Mae and Freddie Mac Is Not Assured"

http://fhfaoig.gov/Content/Files/WPR-2015-001.pdf

In this March 2015 report, Fannie Mae and Freddie Mac are referred to collectively as, "the Enterprises"

CONCLUSION

 " Imprudent business practices and unfavorable market conditions led to the Enterprises’ financial collapse and conservatorship in 2008. After years of huge losses, the Enterprises have reported net income since 2012. Non-recurring events have been a significant driver of earnings in 2013 and 2014 and are unlikely to drive future earnings. While OIG cannot predict whether additional Treasury investments to either Enterprise is a reasonable possibility in the near future, we recognize that significant uncertainties concerning the level of guarantee fees the Enterprises will be able to charge, when combined with the winding down of their investment portfolios and loss of interest income, and possible losses on the derivatives portfolios, mean that the Enterprises’ future profitability is far from assured. The reduction and eventual elimination of the Enterprises’ capital reserves increases the likelihood of additional Treasury investment. Changes in market conditions and the uncertainty of the current mortgage securities market can further affect future profitability, as shown by recent Dodd-Frank Act stress tests. For all of these reasons, stakeholders should not presume continued profitability of the Enterprises."




2008 Financial Crash Senate Hearing: Lloyd Blankfein of Goldman Sachs vs. Senator Carl Levin


2008 Financial Crash: Sen. Carl Levin questioning Daniel Sparks - Former Goldman Sachs Mortgages Department Head, asking him "How much of that shitty deal did you sell to your clients?" during Goldman Sachs Hearing on Fraud and Contempt of clients


During the Financial Services Subcommittee on Oversight and Investigations hearing of May 5 2009, Ms. Coleman was unable to answer several questions regarding trillions of dollars of increases to the balance sheet of the Federal Reserve. Elizabeth A. Coleman, Inspector General for the entire Federal Reserve System of USA, has NO IDEA what happened to $9 TRILLION in the national reserve bank, nor its relation to Lehman Brothers!


William Black, professor of law and professor of economics and former Fed regulator at the highest levels, nearly lets some tears of indignation fall from his eyes, in Congressional testimony, explaining how the highest SEC regulators and the most senior executives of finance in the Senate, knew what happened with the improprieties of the Federal Reserve, leading up to the Crash of 2008. Prof. Black is an expert on "bond vigilantes" and the American trend of "U.S. financial regulators race to the bottom", and he warns that "bad ethics drive good ethics out of the marketplace". He is very depressed that our own FDIC has only $130 on deposit for every $10,800 of risk that it insures.


3-1/2 hours C-Span on Goldman Sachs FRAUD hearings regarding 2008 GLOBAL FINANCIAL COLLAPSE

Three INCREDIBLE links below, not to miss!
SYSTEMIC RISK: FANNIE MAE, FREDDIE MAC and the role of OFHEO, February 2003 FULL Global Report online from OFHEO fed agency... click here

BILL MOYERS JOURNAL | William K. Black interview | PBS April 2, 2009

Perhaps the best TED video, ever in the history of TED, "William Black: How to rob a bank (from the inside, that is) and get away with applause and billions, rather than (from the outside} for just $50k, and get life in prison!"

OLDER NEWS NEVER TO FORGET.....



* Fannie and Freddie dealing with dozens of federal counts against them for fraud. S.E.C. Fraud Case Casts Dark Cloud Over Fortress, By Peter Lattman, December 16, 2011

** S.E.C. Accuses Former Chiefs of Freddie and Fannie of Deception, By AZAM AHMED and BEN PROTESS, DECEMBER 16, 2011



Confidential Federal Audits Accuse Five Biggest Mortgage Firms Of Defrauding Taxpayers

By Shahien Nasiripour

May 17, 2011 "Huffington Post"

Bastille Day Update on the lame Finance Reform Congress papered over, so that nobody is responsible for the $24 trillion sucked up by Fannie Mae and Freddie Mac, July 14, 2010: from TIME magazine: "Barney Frank also had little patience for the Republicans' argument that the bill should deal with the Fannie Mae and Freddie Mac mess. Whenever anyone tried to bring up the subject of the broken government mortgage-financing giants, Frank cut them off and quickly moved on. "The remedy here is ... as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance," Frank conceded on Thursday before adding that this bill was not the appropriate place to attempt such a massive overhaul."

Will Goldman Sachs Prove Greed is God? By Matt Taibbi, April 26, 2010 "The Guardian" CLICK HERE
$24 TRILLION soon to be sucked up by debt.....on top of all the wars being waged in the Iraq-Afghanistan-Iran region....those WAR debts PRECEDE this new $24 Trillion....
...how will the U.S. economy and dollar even possibly survive??



from Dec. 13, 2009 THE NEW YORK TIMES

The Federal Reserve program that has driven rates to such lows, which involves buying $1.25 trillion in mortgage-backed securities, is scheduled to expire in March, and Fed leaders have said that it would not be renewed.


The most recent Federal Reserve survey of lenders found that they were continuing to tighten terms for business and household loans. Banks say they are under pressure from regulators to raise their cash reserves, which means fewer loans. They also argue that a troubled economy breeds extreme caution.

“More than ever before, lenders are very conscious of making good quality loans,” said Michael Fratantoni, the vice president for research at the Mortgage Bankers Association. “They are looking at the value of the collateral and the credit quality of the borrower.”


“.....in those days, a refinance was like a free weekend in Vegas,” said Mr. Cecala of Inside Mortgage Finance. “Now it’s between an Army physical and a root canal — and that’s if you’re successful.”

The current lending freeze owes much to...Mr. Belvedere’s lender, IndyMac, which failed in 2008 from too many bad loans.

"The system was abused, so they threw it out the window," Mr. Cecala said. “Now lenders are paranoid about every loan unless it is guaranteed to be the safest deal on earth.”

An Obama administration program to encourage the refinancing of loans owned or guaranteed by Fannie Mae and Freddie Mac, the government-controlled mortgage giants, is off to a slow start.




AUGUST 3, 2009 -- In a July 2009 report on government efforts to fix the financial system, Neil Barofsky, the special inspector general for the TARP, says total government support has the potential to reach $23.7 trillion. "The lack of transparency as to what use TARP funds were put by recipients in other TARP programs, in SIGTARP's view, has damaged the credibility of TARP and therefore may have threatened its viability. Treasury should not repeat that apparent error with PPIP."

However, the department, Barofsky says, plans to disclose "no more than the bare minimum required by statute."

With nearly $24 trillion potentially flying out of federal coffers, the watchdog wants the government to do a lot more than just "the bare minimum."

In a separate report released Monday, Barofsky said he obtained responses from banks on what they did with TARP funds, something that the Treasury Department has refused to do. Many of the banks, he said, used some funds to make investments, buy other banks and pay off debts.

"This administration promised an 'unprecedented level' of accountability and oversight, but as this report reveals, they are falling far short of that promise," Issa said in a statement. "In fact, the Treasury Department is actively obstructing transparency. The American people deserve to know how their tax dollars are being spent -- especially considering they are the ones who are footing the bill."

The committee plans to invite Treasury Secretary Timothy Geithner to testify and explain why several SIGTARP recommendations have not been enacted. Chairman Edolphus Towns also says he may subpoena information about Treasury's TARP portfolio which has not been made public. .......CLICK TO READ MORE OF ABC NEWS coverage......

THE ADRIAN REPORT ON THE INTERNALLY
DESTROYED U.S. DOLLAR BY INSIDERS FROM WITHIN

July 18, 2009 TRUTHDIG: Why didn't the federal government just lend the money to the states? Why was all the money thrown at Wall Street instead of needy homeowners or struggling school systems? Because the federal government works for Goldman and not for us. Indeed, when it comes to the banking bailout, Goldman Sachs is the government. GOLDMAN SACHS BREAD LINES, soon to be called GEITHNERTOWNS??





CLICK HERE FOR TENT CITIES USA, aka Geithnertowns, FannieTowns and FreddieTowns....


"I LOVE MACRON

& JEB BUSH!" June 2016 in Bari, Italy: At the meeting, only one official with a vote dissented from the Fed Reserve rate increase: the Minneapolis Fed president, Neel Kashkari. Moreover, 12 of 16 Fed officials think that at least one more rate increase this year would be justified, based on newly released projections the central bank released. Remember Neel Kashkari was in charge of Treasury's unsuccessful efforts to create a market in the U.S. for covered bonds, whose value would continue to be guaranteed by the issuing bank, after the bank had sold them. He also worked closely with Paulson on Treasury's takeover of the private enterprises Fannie Mae and Freddie Mac on September 6, 2008, and the federal bailout of American International Group on September 16, 2008. Kashkari initially proposed the TARP $1 trillion fund, but Paulson vetoed that number as too large. Kashkari came up with the lesser figure of $700 billion by taking 5% of the $14 trillion in then-outstanding mortgages in the United States. In December 2009 Kashkari was named a managing director at the investment firm Pimco. Kashkari ran unsuccessfully for governor of California in 2014. Kashkari is the fourth sitting regional Fed Reserve chief to have Goldman Sachs prominently on his resume.



MARCH 3RD, 2009: from the NYT---"One reason that Fannie and Freddie will never return to their earlier forms is simple mathematics: to become independent, Fannie Mae and Freddie Mac must repay the taxpayer dollars invested in the companies, plus interest. Even if the firms achieve profitability, it could take them as long as 100 years -- or longer -- to pay back the government. And almost no one expects the companies to return to profitability anytime soon. Last week, Fannie Mae announced that it lost $58.7 billion in 2008, more than all its net profits since 1992. Freddie Mac is also expected to reveal record losses in coming days." Over the last 17 months, the Dow has fallen 52.3 percent, a larger percentage decline than in any bear market since the Great Depression, but nowhere near the 89 percent collapse that took less than three years to complete after the 1929 high.

CHINA WILL SOON DECAPITATE THE STAGGERING U.S. DOLLAR--Brad Setser, of the Council on Foreign Relations, a New York-based think-tank, tracks China's foreign assets .... the real figure USA owes China et al countries holding our reserves, may be nearer $43 trillion .... From that total, Mr. Setser calculates that the Chinese government is by far the largest creditor of the US. Last year, when its economy was under extreme stress, China lent the US more than $400 billion, equivalent to more than 10 percent of Chinese gross domestic product. "Day after day, China is the single biggest buyer of Treasury bonds in the market," he wrote in a recent report. "Never before has the US relied so heavily on another country's government for financing."

THE ADRIAN REPORT

... please click here for William Black on Bill Moyer's PBS interview re: Little Timmy and his cronies in Goldman Sachs and LIARS LOANS.....

Now the Obama Administration dances with AIPAC and the Fed Reserve/Goldman Sachs.....those global "bedbugs" move from Administration to Administration!




...the $12.6 trillion U.S. mortgage meltdown...
CHINA will "pull the plug" on the U.S. Treasury soon... read WHY here in THE ADRIAN REPORT


READ BELOW FOR DISSECTION OF ARM and ALT-A LOANS that ruined or "fannie'd" our Treasury!.....
CHRONOLOGY OF THE DAMAGE DONE UNDER GW'S ADMINISTRATION.......

AS REPORTED OVER ONE YEAR AGO BY MR. EAVIS: "The vast majority of Fannie Mae's mortgages are loans to borrowers with good credit, but over the past five years the government sponsored enterprise became exposed to mortgages that were made to people with poor credit - subprime mortgages - and to mortgages that were made with incomplete documentation of borrowers' income, called Alt-A mortgages in industry parlance.

One way that Fannie increased its exposure to subprime and Alt-A mortgages was to buy bonds backed with these types of loans. While these subprime and Alt-A mortgage-backed bonds are only a small proportion of Fannie's overall mortgage holdings, their combined value of $76 billion is almost double Fannie's $40 billion of capital, which is the net worth of a company and the last cushion against losses.

Losses are climbing on these loans as borrowers default, which has caused the market value of bonds backed with such loans to fall sharply. Investors are bidding down the value of mortgage bonds in anticipation that defaults will prevent many of the bondholders from being paid back in full. Another round of writedowns

Many banks have already taken large writedowns in the third quarter after marking down the value of the subprime and Alt-A-backed bonds they held - and banks are again expected to post large losses in the fourth quarter after more markdowns.

Because it's impossible to know exactly which Alt-A and subprime bonds Fannie owns, it is difficult to precisely predict losses on them. But if Fannie's bonds are similar to bonds for which price data exists, the company's market losses on these bonds this quarter could exceed $5 billion, which would be 12% of Fannie Mae's capital.

Fannie Mae's rival Freddie Mac last week issued $6 billion of new stock to bolster its capital position. Fannie Mae, (Charts) by contrast, issued only $500 million of fresh stock earlier this month. But if it does have to take substantial losses from writedowns on Alt-A and subprime-mortgage-backed bonds, it may have to come back to market and issue several billion dollars more of stock.

When asked to comment, Fannie Mae spokesman Brian Faith referred to comments made by company officials about the subprime and Alt-A bonds on a Nov. 9 conference call.

On that call, Fannie Mae CFO Stephen Swad said that the bonds had fallen in the fourth quarter, but they were trading, on average, in the "high 90s." Bond prices are often expressed in terms of cents on the dollar, with any price under 100 cents on the dollar representing a discount to the par value of the bond. Therefore, a bond trading in the high 90s has not fallen very far. As a result, Fannie Mae was saying on the call that it hadn't written down the market value of the subprime and Alt-A bonds by much.




Goldman Sachs manufactures the $6 Trillion Dollar Man, Neel Kashkari! click here to arm yourself....



TED and TEDx -- you thought they were altruistic and not part of the huge global matrix?

GOLDMAN SACHS and AIPAC Israeli Lobby BUY us a new president, Barak Obama!

Oct. 20th, 2008 -- A McCain top strategist and moneybags man is under investigation along with 27 other Republicans for FIXING the Fannie Mae Meltdown!

Clusters of Republican senators bought out by fannie and freddie & McCain Lobbyists........nearly five years ago.

The concerns of the 26 Republican senators who signed Hagel's bill became a reality when the government seized control of Freddie Mac and Fannie Mae amid their near financial collapse. Federal prosecutors are investigating accounting, disclosure and corporate governance issues at both companies, which own or guarantee more than $5 trillion in mortgages, roughly equivalent to half of the national debt.

Since 2004, dozens of Republicans in the Senate have hog-tied the Congress so that lobbyists can screw over the entire US nation, even worse than a Abramoff neutron bomb....

Eight of the most heavily targeted REPUBLICAN senators who are mixed up in it: Sens. Rick Santorum of Pennsylvania, Mike Crapo of Idaho, Jim Bunning of Kentucky, Larry Craig of Idaho, John Ensign of Nevada, Lindsey Graham of South Carolina, George Voinovich of Ohio and David Vitter of Louisiana. Santorum, Crapo and Bunning were on the Senate Banking, Housing and Urban Affairs Committee and had voted in favor of sending the bill to the full Senate.

CONRAD BURNS, Montana [R] ended up losing his re-election bid, and ended up being caught in a Washington influence peddling scandal centering on disgraced pro-Zionist lobbyist Jack Abramoff.

FREE FALL FRIDAY----OCTOBER 10TH, 2008 -- OCT. 10TH--Russian pullout day from Georgia: ... and, The Dow's seven-day decline of 20.9 percent is the largest since the seven-day plunge ending Oct. 26, 1987, when the Dow lost 23.8 percent. That sell-off included Black Monday, the Oct. 19, 1987 market crash that saw the Dow fall nearly 23 percent in a single day.

In global currencies this Free Fall Friday, the dollar fell to 98.71 yen Friday afternoon Asia from 98.82 yen late Thursday. The euro stood its ground steadily at US$1.3548 from US$1.3560.

PAULSON'S $700 BILLION BOONDOGGLE, by Mike Whitney ... click here for full text

How did Treasury Secretary Paulson figure out that recapitalizing the banking system would cost $700 billion? Or did he just estimate the amount of money that could be loaded on the back of the Treasury's flatbed truck when it sputters off to shower his buddies at G-Sax with freshly minted greenbacks? The point is, that Paulson's calculations were not assisted by any economists at all, and they cannot be trusted. It is a purely arbitrary, "back of the envelope" type figuring. According to Bloomberg: Swiss investor Marc Faber, known for a long track record of good calls, believes the damage may come to $5 trillion:

"Marc Faber, managing director of Marc Faber Ltd. in Hong Kong, said the U.S. government's rescue package for the financial system may require as much as $5 trillion, seven times the amount Treasury Secretary Henry Paulson has requested....

``The $700 billion is really nothing,'' Faber said in a television interview. ``The treasury is just giving out this figure when the end figure may be $5 trillion.''(Bloomberg News)

...the $12.6 trillion U.S. mortgage meltdown... CHINA will "pull the plug" on the U.S. Treasury soon... read WHY here in THE ADRIAN REPORT!
http://www.newsdissector.com/blog/2008/07/13/special-report-are-we-facing-a-9-11-for-our-economy/

The United States current record-breaking rates of mortgage foreclosure will directly affect 2 million children this year and next, according to a recent report from First Focus, a bipartisan child advocacy organization.

Our homeless education liaisons are noticing increase in the number of students who are homeless, not just in high-poverty families but also those who have typically been middle class and facing this for the first time, says Patricia Popp, state coordinator for homeless education in Virginia.

As it turns out, one of McCain closest advisors, Former Senator and subprime lobbyist Phil Gramm who criticized Anericans for whining and showing signs of mental depression played a direct role in planting the seeds of the subprime situation that started the ball free-falling downhill and gathering more than mere moss.
Appearing on Democracy Now with Amy Goodman, journalist David Corn explained that it involved a sly backroom legislative maneuver mounted by Phil Gramm, who was Republican chairman of the Senate Banking Committee in the 90s.

It was the week that the Supreme Court was giving the election to George W. Bush. As often happens in Washington, Congress had yet to pass most of the appropriation measures that are needed to before that Congress coming to a close, and so they were lumping together, you know, six, seven different appropriation bills into one mega bill, working all hours of the day

And in the midst of all that chaos, Senator Phil Gramm slipped into this must-pass spending bill a 268-page bill, the Commodity Futures Modernization Acta portion of the bill deregulated these financial instruments called swapsThe problem is that these swaps, thanks to Phil Gramms bill, are totally, totally unregulated, and the swap market is something like now about four times the size of Wall Street, in terms of securities that are regulated. And it really turned a lot of the economy into a secret casino, all this action going back and forth, people betting on bets.

And how this related to the subprime crisis is, about this same time, you know, securities firms started bundling all these bad or risky mortgages and securitizing them, and then they would sell these securities or buy them and then buy swaps or sell swaps to cover the possible loss. So it really enabled a lot of firms to go hog wild on the subprime stuff .

The subprime stuff has now led to a massive rise in foreclosures and a fall in profits as investment banks are forced to write off billions in bad investments.

That in turn destroyed credit markets and confidence in Wall Street. Even after interest rates were cut seven times by the Fed, little improvement was registered except the rise in joblessness and inflation.

And that, in turn is what is behind, at least in part, the current fall of mortgage giants Fannie Mae and Freddie Mac. Add in the Bush policies of lowering the value of the dollar, and you got higher oil prices. Add in speculators and short sellers and a total lack of effective regulation, and you get the possibility of a system collapse!"






JULY 12, 2008 GOODBYE FANNIE! SO LONG!

GOOD BYE US DOLLAR, TOO!

Fannie and Freddie shares have both dropped more than 80 percent in New York trading over the past year on concern they don't have enough capital to weather the worst housing slump since the Great Depression. William Poole, the former St. Louis Federal Reserve president, said this week that Freddie is ``insolvent,'' meaning it owes more than its assets are worth.

Fannie, Freddie

Fannie shares opened the day down as much as 49 percent and Freddie dropped as much as 51 percent. A government takeover of one or both companies is among options that could be considered by White House officials, said Joshua Rosner, an analyst with Graham Fisher & Co. Inc., who met with the administration yesterday.

Officials may push for the firms, which own or guarantee about half of the over $12 trillion of U.S. mortgages, to be placed in a conservatorship if their problems get worse, he said.

Israel Infinity Venture



Infinity is a leading Israeli-Chinese equity fund managing many BILLIONS since 1993. The Fund leverages its strong network and experience in both Israel and China to bring added value to Israeli and Chinese companies. The Fund's core strategy is to invest in late-stage Israeli technology related companies with parallel investments in Hakka Chinese operational businesses that license Israeli technologies, adjust them to the needs of the Chinese market and market them in China. The Fund's partners include leading financial institutions in Israel, China, Europe and the US.

In partnership with the IDB Group and CSVC/SIP, Infinity received the first license ever awarded by the Chinese government to foreign investors to operate an on-shore fund (00001 registration number). The Fund has since been able to assist Israeli technology companies expand operations in the Chinese market by utilizing strategic relationships in China with governmental agencies, large corporations and private firms.

Historically, the Fund's performance has ranked in the top-tier of all global firms with successful exits in companies such as Galileo, ESC Medical, Saifun, Shopping.com, Scitex Vision, Sightline, Identify Software, AGT International, Beidahuang Group, Beijing Capital Group Co., Ltd, BOE Technology Group Co., Ltd., China Aerospace Science and Industry Corporation, CASIC, COFCO, Ichilov hospital (Tel Aviv Sourasky Medical Center- TASMC), Zhejiang University’s Insigma Technology Company Ltd, is a leader in the China-based IT services and outsourcing industry, LR Group - Agriculture Partner, Miya - Water Partners, Sanpower Group, Sheba Medical Center - Medical Partner, Sichuan Development Holding, Wahaha, WEGO, ZONGSHEN Industrial Group.

From its creation in 1938 to 1968, Fannie Mae was part of the government. It bought loans from banks and held them on its balance sheet. Homeownership expanded by about 20 percentage points and we had no national housing crashes that wiped out homeowners and the country’s banking system. Fannie and Freddie’s problems developed much later, after they became publicly traded companies. These “neither fish nor fowl” hybrids had both government charters with implicit government guarantees and had shareholders to please. In their drive for shareholder value, the companies took more risk. And then they LOBBIED to lower their capital requirements to take even MORE RISK.



April 21, 2008 THE ADRIAN REPORT on Fannie Mae and the Countdown to the Financial U.S. Meltdown
late 2007 quote: "Raines's ouster may remove an obstacle to efforts in Congress to create a stronger regulator for FANNIE MAE and Freddie Mac. The two companies together have more than $1.7 trillion of debt, exceeding either France or the U.K."
REVIEW & OUTLOOK
WALL STREET JOURNAL

Too Political to Fail
April 21, 2008; Page A16

Standard & Poor's issued a report last week concluding that Fannie Mae and Freddie Mac are the biggest financial threat to the U.S. government's AAA credit rating. And on Friday, we found out once again why this is so: The two "government-sponsored" mortgage giants aren't held to the same standards of accountability as everyone else in American business.
A group of former Fannie executives settled with federal regulators Friday, ending a two-year legal battle over the inflated pay and bonuses they received as a result of fraudulent accounting at the firm. The upshot is that former CEO Franklin Raines will forfeit some underwater stock options, make a donation to charity and pay $2 million to the government, although that last sum will be covered by Fannie's officers-and-directors insurance. The lawyer for former CFO Timothy Howard called it a "capitulation" by the government, and it's hard to disagree.
To be clear, Mr. Raines and the rest have never been charged with any crime, and we aren't suggesting they should be. Our point is that we rather doubt the government would show similar restraint if Fannie were not a Washington favorite, and in fact it has thrown the book at executives at other scandal-tarred companies. We fear this settlement � which Ofheo, the regulator, generously values at $31 million for the three executives involved is one more sign that Fannie Mae exists in a separate, politically protected universe.
When Fannie went two years without filing financial reports, the New York Stock Exchange passed the "Fannie rule" to avoid having to delist the stock. And now the three top executives during the height of Fannie's accounting fraud have walked away with only a token acknowledgement of "managerial" responsibility for a scandal. Recall that their huge bonuses depended on reported profits that were later determined to be fanciful. Recall, too, that Mr. Raines, other Fannie executives and their Wall Street retinue derided those of us  who wrote critically about their derivatives accounting before it all blew up.
Friday's paltry settlement shows once again that Fannie and Freddie are dangerous because, as creatures of Congress, they can never be seen to have failed. So their accounting fraud is explained as merely a mistake, and their former executives keep the bulk of their riches. "Government-sponsored" capitalism means never having to say you're sorry.
See all of today's WALL STREET JOURNAL editorials and op-eds, plus video commentary, on Opinion Journal.
 


New HUD director, Steven C. Preston, former $6 billion post-Katrina [with FEMA aid money] Small Business Loan director -- to take the Helm!


Steven C. Preston left Lehman Brothers in 2006 to become SBA administrator, taking over an agency struggling through criticism of its own, particularly regarding its seemingly laggard efforts to help small businesses damaged by Hurricane Katrina.
The administration official said Preston was credited with turning that program around, resolving tens of thousands of small-business requests in a matter of months and disbursing about $6 billion to business owners.
 
Bush to Name SBA's Preston as HUD Chief

 

By Howard Schneider and Michael Abramowitz

Washington Post Staff Writers
Friday, April 18, 2008; 10:11 AM

President Bush intends today to nominate Steven C. Preston, the head of the Small Business Administration, to take over the Department of Housing and Urban Development [HUD], according to a senior administration official.
href="http://www.washingtonpost.com/wp-dyn/content/story/2008/04/18/ST2008041801158.html
Bush to Name SBA's Preston as HUD Chief
  • Transcript: Small Business
    • Preston would take over from Alphonso Jackson, a longtime Bush ally who resigned following allegations of favoritism in his dealings with a Philadelphia developer and criticism of his response to the crisis in the housing industry.
    HUD has taken on an increasing profile amid rising mortgage default rates and collapsing home values.
    Bush chose Preston, a former investment banker with Lehman Brothers, because of his background in finance, the official said, referring to him as "a problem solver who knows how to tackle complex challenges."
    The U.S. housing industry is in the midst of a sharp downturn, with prices dropping throughout the country and a record number of homeowners falling behind on their mortgage payments.
    The problem stemmed in part from years of loose lending practices in which mortgage brokers and finance companies freely provided loans to less creditworthy borrowers -- often on terms that began with a low interest rate, only to escalate beyond the borrowers' ability to pay.
    Defaults on those loans have contributed to broad problems in global financial markets, and prompted efforts in the United States to overhaul the way the mortgage industry is regulated.
    Preston left Lehman in 2006 to become SBA administrator, taking over an agency struggling through criticism of its own, particularly regarding its seemingly laggard efforts to help small businesses damaged by Hurricane Katrina.
    The administration official said Preston was credited with turning that program around, resolving tens of thousands of small-business requests in a matter of months and disbursing about $6 billion to business owners.
     


    Drake lost much of its money last year [2007] from bad bets on U.S. Treasuries, as well as Japanese bonds and stocks in developed markets, according to a year-end report sent to investors. It had borrowed about $12 for every $1 of net assets as of Dec. 31. CLICK HERE FOR NIGHTMARE RECESSION/MELTDOWN NEWS.....

    The Adrian Report on BLACK MONDAY, January 21, 2008, Martin Luther King Jr. Day ... Wall Street sleeps....
    Executive Director of the Pacific Society, predicts that, given time, "Chinese interests and American interests will clash."

    Foreign central banks are major buyers of US Treasuries, with the Peoples Bank of China (PBoC) the second largest purchaser, just after the Bank of Japan.

    China's central bank has also led the swelling demand for US mortgage-backed securities. Chinese purchases of Freddie Mac, Fannie Mae, and other pre-packaged debt securities have contributed to bullish momentum in housing prices and helped maintain low mortgage rates. In short, China has played a key role in keeping interest rates low by financing huge US budget deficits, while its participation in the mortgage market has enhanced the pool of capital available for American homebuyers.


    THE LONG FALL FROM GOLDMAN SACHS in LOWER MANHATTAN tooooooo-----> TIANANMEN SQUARE, CHINA, the true and mighty COLOSSUS! click here....

    culled from the notes of Andrew Meyer, CUNY professor, NYC
     
    ARM mortgage loans --  Analysts fear that a wave of defaults could create a vicious cycle of foreclosures and fire-sale liquidations that would bleed U.S. real estate markets of massive equity.

    While this situation is well reported, little has been said about its link to Chinese fiscal policy and U.S.-China trade relations. A disasterous Chinese-U.S. trade imbalance is married to the growing crisis of sub-prime mortgages meltdowns. China's foreign currency reserves have grown to 1.2 trillion dollars U.S. The reasons for this mounting pile of cash are well-understood: China has kept the value of the Renminbi (RMB) relative to the dollar artificially low so as to keep prices in China low and spur employment and economic growth.

    What relation may be drawn between Chinese fiscal policy and the sub-prime mortgage market? $350 billion of China's foreign currency reserve is held in U.S. T-bills. A further $230 billion of this cash, however, is held in bonds issued by U.S.-backed agencies such as Freddie Mac and Fannie Mae. These latter instruments are bonds that consolidate the debt of homeowners toward the purchase of their houses, much of which was generated by the issuance of risky sub-prime mortgages.

    When one parses out the motives for Chinese fiscal policy, the link between it and the sub-prime mortgage crisis becomes clear. The PRC can only keep the value of the RMB against the US dollar artificially low by parking the profits from its massive trade surplus in U.S.-denominated assets. This has created a constant fund of cheap cash available to lenders in US housing markets. Bankers do not need to stringently calculate the risks associated with sub-prime loans because they know that they can always sell off that debt to an eager Chinese treasury in the form of a US-backed T-bill bond. The chronic need of the Chinese fisc to hypercirculate RMB has thus created a number of economic aberrations, including a Shanghai Stock-market bubble at home and a US real-estate market bubble abroad.

    What the long term effects of this situation will be is anyone's guess, but most economists would agree that when there is a bubble it is bound to burst. The effects will not be good, the only open question is their ultimate severity. One lesson from the situation is clear: US complacency about the domestic political situation in China is self-defeating. US leaders express frequent frustration over Chinese fiscal policy and the distorting effect it has on CHINA-US trade, but this ignores the deeper structural motives that perpetuate the anomaly.
     
     Chinese leaders continue to prime the economic pump that is causing securities and real estate bubbles for fear of the political consequences of any degree of economic slowdown. They hope that they will not be held to account for failing to deliver fundamental political reform as long as the Chinese economy continues to enjoy robust growth. How long this inherently unstable situation can be sustained is an open question. The political consequences of acute economic collapse are likely to be far more grave than the instability that might be engendered by proactive and preemptive reform, but this contingency does not seem to have registered upon China's nor America's Wall Street nor Goldman Sachs leadership.   An acute collapse is certain to occur. 


    Angry and combative U.S. PROGRAMMERS GUILD blogsite, all of the many thousands of jobless American PhDs and MS educated in programming blame the H1-B visa for the death of U.S. jobs at home! Read it here.....

    2007/2008 GW Administration history of Fannie Mae shareholder suit adds Goldman Sachs NEW YORK, Sept 1 2006 (Reuters) - A lawsuit against former Fannie Mae (FNM.N: Quote, Profile, Research) executives claiming fraud has been amended to include Wall Street banks Goldman Sachs Group Inc. (GS.N: Quote, Profile, Research) and Lehman Brothers Holdings Inc. (LEH.N: Quote, Profile, Research), according to a complaint prepared by shareholder attorneys.

    The complaint claimed the banks, as well as mortgage insurer Radian Group Inc. (RDN.N: Quote, Profile, Research), abetted Fannie Mae officers in mismanagement and manipulation of earnings that will result in an estimated $11 billion restatement.

    Randall Baron, a partner with lead counsel Lerach Coughlin Stoia Geller Rudman & Robbins LLP, provided a copy of the amended suit that he said was filed with the United States District Court for the District of Columbia.

    Spokeswomen from Fannie Mae and Lehman Brothers declined to comment. Telephone calls to Goldman Sachs and Radian were not immediately returned.

    click here for ....Close to TRILLION DOLLAR accounting and US Treasury tied GROSS MISMANAGEMENT of tax dollars by FANNIE MAE "forgiven," by our toothless fed regulatory agency OFHEO, for misdeeds as boldly evident as the Super Stellar Big Bang BOOM going on without abatement in CHINA, with our T-bills too, to the stinging and burning eyes and ears of unemployed and part time and uninsured Homelanders, unraveling here in the States and abroad in U.S. vassal nations, quietly and desperately seeking money and jobs and poorly competing with never before seen mulitudes of illegal immigrants who will never protest.

    Things are getting very SMALL at both the Smithsonian and Fannie Mae....despite this, the OFHEO report on Fannie Mae abuses has been "billed" to be a 'certain' BLISTERING ATTACK against the improprieties of that great and wealthy global reaching lady named FANNIE!

    OFHEO reported in 2003 that "nothing could ever go wrong!
    http://www.ofheo.gov/Media/Archive/docs/reports/sysrisk.pdf


    THE ADRIAN REPORT ON FANNIE MAE

    SMITHSONIAN's Lawrence M. Small pulled deep into doo-doo voodoo Fannie Mae AND outrageous Showtime scandal! ... click here


    U.S. middle class in bloody tatters....Borrowing over $40 BILLION a year just for basic survival from Goldman Sachs & Friends loan sharks ... click here


    James B. Lockhart, Skull & Bones roommate of GW at Yale, former #1 man at Pension Benefits Guarantee Corp [PBGC], currently still #2 man at Social Security Administration, appointed by GW as new head of OFHEO, to "investigate" for the final audit/probe his [ho ho ho] so-called "BLISTERING REPORT" by the OFHEO, of the unknown BILLIONS OF DOLLARS swindle by Fannie Mae! ... click here ... even OFHEO's spokesperson said earlier this quarter, "we will not see much change in Fannie Mae even after this report, it will take years to begin implementing the reforms".... click...DOES ANYONE SMELL A NetRisk?!

    "Fannie Mae, Your Name is MUDD!"






    WINEP and AIPAC -- the twin demons of the defiant Israeli Lobby in the U.S. Congress and throughout our national Infrastructure--from the LONDON REVIEW OF BOOKS




    click to read GOD OF WAR & MERCHANTS OF DEATH.....here
    KABBALA

    MASHIACH


    see the Mashiach video here!....



    Don't be shy, CLIQUE me now!


    The vast majority of Fannie Mae's mortgages are loans to borrowers with good credit, but over the past five years the government sponsored enterprise became exposed to mortgages that were made to people with poor credit - subprime mortgages - and to mortgages that were made with incomplete documentation of borrowers' income, called Alt-A mortgages in industry parlance.

    One way that Fannie increased its exposure to subprime and Alt-A mortgages was to buy bonds backed with these types of loans. While these subprime and Alt-A mortgage-backed bonds are only a small proportion of Fannie's overall mortgage holdings, their combined value of $76 billion is almost double Fannie's $40 billion of capital, which is the net worth of a company and the last cushion against losses.

    please click here for a partial guest list of the secretive BILDERBERG society meeting held in Turkey at an unspecified location in May of 2004....

    HOW TO PUT THE WRECKING BALL TO YOUR HOME AND LIFE....

    As kla...@clark.net I reported some years ago at the beginning of the housing bubble that the _Post_ was doing coverage of a couple of scam operators who were in the extremely profitable business of helping illegal aliens misrepresent their incomes on fraudulent applications to Fannie Mae and thus securing mortgages which the scammers helped the applicants apply to overpriced homes. I predicted at the time that the inflated prices of these fraudulently acquired homes would force upwards the asking prices of nearby homes, and that's exactly what happened. I also predicted at the time that if this wasn't addressed, a housing bubble would result. What I did not predict was that human nature and greed would go right past the ability of the regulators, and that the entire industry would pile on, all of them screaming "if it makes a buck, it's _good_" and I further didn't predict that suddenly the average bottom-feeding Realtor would find themselves launched into not just mere respectability, but to actual wealth sufficient as to influence the political fortunes of candidates and parties.

    What Mr Minnery doesn't quite seem to grasp is that the ascendancy of the Realtor, feeding on and fed by fraudulent applications for sketchy mortgages buying overpriced properties, is over.

    It doesn't matter how he spins it. It's done. There's no more money.

    Immigration, Housing Ills Seen as Linked

    By Nick Miroff

    Washington Post Staff Writer Friday, October 5, 2007; Page A01

    Prince William County's home prices and its Hispanic population rose in tandem during the first half of this decade, a result of a home-building frenzy that became a powerful magnet for immigrant laborers. They arrived by the thousands, sending housing values even higher.

    Many did not come legally. But in the blur of swinging hammers and flying dollar signs, that detail was often overlooked. Illegal immigrants had little trouble finding jobs and not much trouble getting fraudulently Fannie Mae backed mortgages.

    [ It should be noted that this exact problem with utterly unqualified people getting mortgages has brought this nation, and many others, to the brink of economic disaster of a magnitude not seen in nearly 80 years. --thardman]

    In a nutshell: [excerpts]

    Fuel to the Fire: Investor Behavior
    Just as the homeowners are to blame for their purchases gone wrong, much of the blame also must be placed on those who invested in CDOs. Investors were the ones willing to purchase these CDOs at ridiculously low premiums over Treasury bonds. These enticingly low rates are what ultimately led to such huge demand for subprime loans.

    Much of the blame here lies with investors because it is up to individuals to perform due diligence on their investments and make appropriate expectations. Investors failed in this by taking the 'AAA' CDO ratings at face value.

     

    GINNIE MAE, FANNIE MAE



    March 20, 2006---In a Monday conference call with analysts, Fannie Mae Chief Executive Officer Daniel Mudd reviewed the company's finances, and stressed the "substantial progress" the company has made in cleaning up its scandal ridden books. Although it has not finished reviewing its accounting policies and practices, the Fannie Mae company has completed identifying the accounting issues it intends to examine, Mudd said.

    "The Mudd mantra here is: change, progress and more to do," said Mr. Mudd, a former Chief Executive Officer of GE Capital, Japan, and one time officer in the U.S. Marines, in addition to having completed a tour for the Department of Defense, before going to Germany and participating in conversations leading up to the installation in Germany of Angela Merkel as new Chancellor, the favorite "girl" for the Council on Foreign relations [CFR], a former anti-communist East German who is quickly implementing OUTSOURCING as her mantra imposed upon all of Germany. Mudd is a proud and privileged member of the Council on Foreign Relations, himself.


    Have you ever wanted a SMS chip implanted into your brain?

    The new fraud and accounting errors of Fannie Mae were disclosed in more detail in a Securities and Exchange Commission document filed Monday. The company grossly failed to take into account hefty fees and obligations related to its mortgage-backed securities, the document said. It miserably and incorrectly classified many loans and did not properly estimate the value of foreclosed properties. It also inappropriately recorded debt related to loans the company had reason to believe would not be repaid.

    Fannie Mae did not provide estimates of how much each error would affect the size of the restatement, and Congress has done next to nothing, neither has the U.S. Justice Dept.

    Fannie Mae remains, however, under investigation by the powerless Office of Federal Housing Enterprise Oversight, and is fighting several shareholder lawsuits.

    Just last week, the Senate, on a 52-48 vote, sent to President Bush a bill raising the ceiling on the national debt to nearly $9 trillion and preventing the FIRST EVER DEFAULT ON U.S. TREASURY NOTES IN THE HISTORY OF OUR NATION! This translates to a debt for the faulty T-bills and the Fannie Mae miscalculations and the war in Iraq to a debt that represents $30,000 for every man, woman and child [legally here] in the United States.

    SALLIE MAE STUDENT UPRISINGS PREDICTED FOR 2016






    Who really controls PBS and NPR?

    TEDx makes lots and lots of dough! You thought it was a cute humanitarian NGO? Think twice!





    Did HAARP shoot down COLUMBIA?


    The largest mortgage originator in the United States is Countrywide Financial, which is an almost exclusive Fannie Mae partner, although they have sold small amounts to GSE competitors. Their "loan production" during 2003 was $434.9 billion, of which most was sold to Fannie Mae.

    Read it in the London ELECTRONIC WHIP online!

    Who Will Put a Stake through the heart of the God of War?




    U.S. HOMELANDERS Beware! When we are beholden to so few -- we have very little SECURITY! There IS NO Homeland Security, only in GW's ramblings....

    Please scroll down for the dope on CHEVRON MITIGATION BANK taking over the area all around New Orleans! ... ahem, "to save our wetlands"

    Merger Mania of the late 1980s, read about it in ELECTRONIC WHIP, LONDON



    Merger Mania of the late 1980s, read about it in ELECTRONIC WHIP, LONDON, part 2





    The CENTURY FOUNDATION declares: "Any bond represents a promise by the borrower to pay the lender. In the past, some private borrowers and even nations have defaulted on their debts. Enron, Pan Am, Polaroid, and Bethlehem Steel went bankrupt. Debt issued by Argentina and Ecuador can be purchased for far less than its face value because many investors doubt that it will be repaid. And bonds issued by the Confederate States of America are suitable for framing, but for little else; they will never be repaid. The United States, too, could default on its debt. The country could lose a war or a plague could decimate the population. Or our government could simply announce "We will no longer honor our promises to the Central Bank of China or the Federal Reserve Bank or the Social Security trust funds or anybody unlucky enough to have trusted us at our word."

    please click on photo for history of the lost tribe ... The HAAKA Jews since time immemorial have been a stronghold for ancient Aramaic and Hebrew tribes from 900 BC till Christ and up to today! ... the Silk Road is maybe 4000+ years old!

    HOW OUR T-BONDS "IMMIGRATED" TO CHINA

    http://www.atimes.com/atimes/Global_Economy/FA23Dj01.html

    Veteran New York money manager Arnold Schmeidler warns, "We are in a period unlike anything since the 1930s when the world is confronting deflationary forces." "American auto companies are selling their production at zero interest rates, because there is excess capacity." But China is building auto plants to make hundreds of thousands of vehicles....their trend is towards 40 cents an hour wages to make clunker cars for the US in which neither consumer nor manufacturer has much pride.

    In fact, as dangerous as it sounds, China currently is lending the US all the money to buy Chinese production.





    Viva la France!

    HOORAY FOR BLACK TUESDAY!! Long live the STRIKING FRENCH NATION!! Screw cheap and outsourced labor!!


    For example, as the "boom" of President George W Bush takes off, puzzled American commentators are asking where are all the extra JOBS that the apparently positive indicators should be creating. In fact, they are being created abroad - MOSTLY IN CHINA.

    Peter D. Schiff, chief global strategist of Euro Pacific Capital, isn't so sanguine. Indeed, Schiff can fairly be called an alarmist on America's borrowing and spending ways. In a note to clients Thursday, he wrote that China's revaluation rang "the mother of all bells."

    With the change in its currency regime, "the pressure on China to prop up the dollar will be greatly diminished," he said.

    True, a weaker dollar would hurt Chinese exports to the United States, but over the long haul, a rising yuan would give ordinary Chinese the purchasing power to "enjoy the fruits of their own productivity," he said.

    The flip side is a lowered American standard of living, Schiff predicted. A weaker dollar would mean higher prices for import-loving U.S. consumers, higher interest rates and a COLLAPSE OF HOUSING PRICES, he said.


    newsflash: AUG. 2005--Rushing to beat an October deadline when the biggest overhaul of the bankruptcy law in a quarter century goes into effect, rising numbers of Americans have filed for protection in the four months since the law was changed, seeking to have their debts erased.

    Recent GW induced CREDIT CARD PANIC and Dismantling of the Family Bankruptcy laws [only against the lone citizen and his/her family, not against mega-business bankrupticies] could affect U.S. cities like in France!





    click here to read about Dubya's monstrously cold disenfranchisement of the struggling middle and lower classes of USA through his bill stripping away rights to claim bankruptcy against old credit card debts ... this has kept our unemployment rate down from 25% to 11%! GW is the loser with his signing of the "Bankruptcy Abuse Prevention and Consumer Protection Act"....another special treatment for the very rich, the pretty rich, and the BANKS BANKS BANKS and BANKSTERS!


    KENNETH TOMLINSON, bedmate of GW & Newt Gingrich, defending his email records from investigators digging up his purchase of expensive Arabic race horses on the PBS and VOA dollar!

    .... you must scroll down a bit to find out how CHINA consumed our Treasury with T-bond giveaways!.....

    Jan 5, 2006 -- CHINA-USA --- USA BEING DEVOURED BY CHINA --

    America's trade deficit in goods and services reached another record, hitting $68.9 billion in October. The news, much worse than expected, was blamed partly on a surge of Chinese electronic and toy imports (the deficit in goods with the country was a record $20.5 billion) and capped a year of growing political rancour with Beijing over trade.

    http://www.atimes.com/atimes/Global_Economy/FA23Dj01.html

    China recycles trade surplus into US Treasury bonds

    American companies may have forgotten what Henry Ford propounded when he first built his Model T: If you do not pay high enough wages to your workers, they can't afford to buy your product. One simple basis for that Bush boom is that China is recycling its US$100 billion-plus trade surplus with the US back into dollars, and especially into US Treasury bonds. Almost half of the US Treasury bonds are now owned in Asia. So China is financing Bush's bold economic experiment: running two or more wars simultaneously with a huge budget and trade deficit, and equally huge tax handouts for the richest Americans.

    One has to question the long-term economic rationale for China of putting its long-term assets into very low-interest bonds in a currency that has already dropped recently by a third - and is going to drop even more. It certainly makes strategic sense: if push came to shove over, for example, the Taiwan Strait, all Beijing has to do is to mention the possibility of a sell order going down the wires. It would devastate the US economy more than any nuclear strike the Chinese could manage at the moment.

    But far from wanting to devastate the dollar, China is more concerned to maintain its currency's parity with the dollar, even as it devalues massively against the Euro or the Yen. Indeed, without those Sino-dollars flowing back, the dollar would have tanked even more.

    There is a big multiplier effect here. China only accounts for 3 percent of the world's GDP, but for from three to five times as much of the world's growth. And its economy is disproportionately trade-oriented. So its double act with the US - both the seller of consumer goods on a huge scale and the financer for US' purchase makes it even more important.

    Dangerously, the global economy is faced by an addictive combination of China - a developing country with many problems of social instability - and the US - which the recent IMF report hints is a rapidly undeveloping country - whose fiscal irresponsibility is compounded by a political immaturity that tends to ignore geopolitical and economic reality.

    If the US economy sinks and Americans stop buying Chinese goods, then it will compound the US slump as China first stops buying US bonds that have inflated the American bubble and then moves on to selling them. On the other hand, if the Chinese economy falters and it stops recycling dollars into the US economy, then the boom stops anyway. Indeed, it seems that China increasingly will need more of that cash to pay for energy imports anyway.

    Even though economics is a dismal science, the best economists realize, that it is still better science than politicians drumming up votes, and investment bankers drumming up fun money, seem to understand. The West is in the red, and if it crashes, the East may join it.

    ===================================================================

    Fannie Mae is a "government sponsored enterprise", aka a 'GSE'.

    Are Mitigation Banks for Wetlands a GSE also??? [they are carpet bagging through the Katrina afflicted Gulf Coast states--wherever the Army Corp of Engineers turns up so do the mitigation banks].

    Considering the WHOPPER federal funding handouts [Mitigation Bank and Fannie Mae welfare for Big Business] to both sneaky anti-eco 'pro-wetland' Mitigation Banks, and the sly & shifty Fannie, they sure seem to be among the most emblematic of the 'Guaranteed Shit Entities' [GSEs]!!

    About HMDA [Home Mortgage Disclosure Act], Regulation C, The Federal Reserve, and Fannie Mae! click pls...



    "CARRYING TRADE," which means foreigners can borrow at cheap rates in the United States and pump the proceeds into China.

    Here is how it works! FANNIE MAE, did you know that only one US 'bank' is fatter and richer than Fannie Mae, our collosally powerful dispenser of money [home mortgage loans]. Only Citibank is its superior? Fannie Mae doles out trillions in home loans which are tied into U.S. tax dollars & the US Treasury. This includes muy MUCHO bad home loans to illegal immigrants -- just check out Bank of America records or hang out in a Latino neighborhood bank branch and listen in if you can speak Spanish. When this TRILLIONS goes SPLIFF!, where is the cash to back it up? It has all disappeared without a trace same as our pension funds!

    Our US Treasury will be under much pressure to owe up somehow at the time of the meltdown which will come at the same time that the Chinese Dragon starts to fly to Mars and soars the skies above our heads -- making a laughing stock of our National Reconnaissance Organization [NRO] spy satellites -- and leaving us behind financially, culturally, astronautically, and materialistically, like an overextended 7-11 store chock full of shrunken heads!

    CHINA -- The Chinese have been long buying up the vast bulk of our T-bonds. Our CEOs and our Federal Reserve and our Congress have BEEN ALL FOR IT! The Japanese yen and the British pound are not pegged to our dollar like the Chinese yuan, so don't get your panties in a twist fretting over the Japanese and British small island nations holding some of our T-bonds.

    The Chinese have been raking in money from this CARRYING TRADE deal and are making a killing off of the interest we must pay them. In a parallel universe, the Communist Chinese [suddenly in the last decade at least] are brilliant venture capitalists and have their own mirror image T-bond structure in their bloated Treasury, looking a lot unlike our thin Lizzy! They got all of Europe and most of the world buying up their own T-bonds like hot dogs on Coney Island. Funny thing is, almost not even one Chinese elite will touch their own Chinese T-bonds. They don't buy them! They know why! It's time for you readers to get hip too! [Why has the Chinese domestic T-bond become the target for harsh analysis? The national Chinese debt is known as the "bond laced with the gold," in China's financial markets. However, the "bond laced with the gold" has long since passed its prime. On Sept. 13,2005, China's one-year state bonds were sold at 98.87 yuan, with a yield of only 1.1585]

    Thus, funny money in our Treasury is backing up the growth of illegal immigrant housing in the US and also the most powerful boom in China not seen since the building of the Great Pyramids in ancient Egypt! We are the sad losers, wasting away our very short and desperately needed time to defeat an illusory monster in the sand dunes and Gulfs of ancient Babylon, and doing next to nothing for our Gulf Coast wounded here at home!

    Why are we helping undocumented aliens in the USA to buy homes and cars and SUVs and giving away our assets to the booming Chinese economy, who today as a middle class live better than our middle class in the USA, especially better than the dissed and neglected displaced denizens of New Orleans. We have produced a surplus of native born PhDs in science and engineering right here at home, for over a decade or two, and yet our lawyers and Senators have been doling out H1-B visas to alien scientists and engineers!

    Our exports are laughable compared to Germany ... thus, do we have any real money left in our Treasury that has not been spent on contractors such as Halliburton and Wackenhut and KBG and Caryle Group and USIS, just to mention a few of the insiders, with no bid contracts awash over in Afghanistan and Iraq for these parasites. I don't think so. Prove me wrong, make my day. When even our own unions do NOTHING to help African Americans nor blue collar workers nor our rapidly shrinking and vanishing middle class to stay afloat and to train to keep abreast of new technologies, when these impotent and supplicating and feather lined union managers can only reach out like beggars to help ONLY illegal immigrants to organize and strike against Big Business abuses, and not organize and assist us legals, we are in need of some new founding fathers and a new and bolder drum and fife corps! Lace up your boots and pump up the volume! Make some music and make yourself heard!







    GW FEMA-VILLES MORE PREVALENT THAN HOOVERVILLES    >=========================

    What is a MITIGATION BANK and what does it have to do with military engineers and wetland swap deals and New Orleans Reconstruction?

    CHEVRON SAVING OUR WETLANDS? THINK TWICE ....

    PALACIO WETLANDS BANK .... click here for helpful details....


    Sept. 1, 2005 -- Paul Krugman, NY Times, on ARM home mortgage loans and the imminent explosion of the toy bubble economy, owned by the Chinese holding our T-bonds:



    "These days Mr. Greenspan expresses concern about the financial risks created by "the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages [ARMs]." But last year he encouraged families to take on those very risks, touting the advantages of adjustable-rate mortgages [ARMs] and declaring that "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage."

    If Mr. Greenspan had said two years ago what he's saying now, people might have borrowed less and bought more wisely. But he didn't, and now it's too late. There are signs that the housing market either has peaked already or soon will. And it will be up to Mr. Greenspan's successor to manage the bubble's aftermath.

    How bad will that aftermath be? The U.S. economy is currently suffering from twin imbalances. On one side, domestic spending is swollen by the housing bubble, which has led both to a huge surge in construction and to high consumer spending, as people extract equity from their homes. On the other side, we have a huge trade deficit, which we cover by selling bonds to foreigners. As I like to say, these days Americans make a living by selling each other houses, paid for with money borrowed from China.

    One way or another, the economy will eventually eliminate both imbalances. But if the process doesn't go smoothly - if, in particular, the housing bubble bursts before the trade deficit shrinks - we're going to have an economic slowdown, and possibly a recession. In fact, a growing number of economists are using the "R" word for 2006.

    And here's where Mr. Greenspan is still saying foolish things. In his closing remarks he suggested that "an end to the housing boom could induce a significant rise in the personal saving rate, a decline in imports and a corresponding improvement in the current account deficit." Translation, I think: the end of the housing bubble will automatically cure the trade deficit, too.

    Sorry, but no. A housing slowdown will lead to the loss of many jobs in construction and service industries but won't have much direct effect on the trade deficit. So those jobs won't be replaced by new jobs elsewhere until and unless something else, like a plunge in the value of the dollar, makes U.S. goods more competitive on world markets, leading to higher exports and lower imports.

    So there's a rough ride ahead for the U.S. economy. And it's partly Mr. Greenspan's fault."

    Is Walmart really at the cutting edge of illegal immigrant labor or are they falling behind many of the other "union" shops?! ... click here



    ...click here for legal citizens aka African Americans reaction to the new GW inspired NO BANKRUPTCY law for the impoverished --that just swept through both sides of the House, with Democrat & Republican Neo-Cons cheering as they hold hands with their blushing fatcat lobbyists!

    Israel slapped on the back for using illegal cluster bombs purchased from USA and used on civilians in Lebanon!....click here


    click here for Dirt Bag Contractors in Iraq

    New York Democrat Bans Contractors from hiring Illegal Immigrants .... companies that hire illegals will do six months in jail and pay hefty fines .... Steve Levy cares about our jobs and welfare and making our unions strong with LEGAL RESIDENTS, not illegals, like the SEIU and AFL-CIO prefer....click here for riveting details!

    CHEVRON is SAVING our Wetlands for us and getting paid well to do it! ... click here to believe!

    Please ... if you are interested or share concern in saving our wetlands, please consult the classic textbook on it, "WETLANDS: Third Edition", by William J. Mitsch & James G. Gosselin, 2000, John Wiley & Son.

    What comes across clear to me after having looked the book over, is that MITIGATION BANKING should be called REPLACEMENT BANKING, in that the wetlands are being replaced much faster than the damages to them are being mitigated.....

    Rachel's Precaution Reporter---click here -- [PP] "Precautionary Principle," far better than the PETER PRINCIPLE! Stand behind a clean and integrated MOTHER EARTH! Read over Rachel's List and see who is violating the PP litmus test concerning our vulnerable environment.....click here!

    Speaking of Rachels, the plucky Jewish anarchist, MURRAY BOOKCHIN, passed away recently... he had DEEP THROAT FBI deputy director W. MARK FELT convicted for violating his civil and U.S. Constitutional rights in his hayday, in addition to writing OUR SYNTHETIC ENVIRONMENT [1962], against pesticides and the dangers of industrial and commercial chemical proliferation, at the same time as RACHEL CARSON's "Silent Spring" came onto the scene...click here for more...


    Both ducks and civil rights are LIMITED, far from "unlimited", as THE TERRENE INSTITUTE would have you believe.
    "The Office of Homeland Security has been accused of wasting billions on no-bid contracts leading to enormous fraud and abuse", by Gary D. Bass and Dana Chasin: Bass & Chasin Shed sunlight on no-bid federal contracts, in The DC Examiner, Aug 4, 2006 -- Gary D. Bass and Dana Chasin are executive director and senior adviser on budget and tax issues, respectively, at OMB Watch

    ICF Kaiser International Consulting

    won hands down in an easy government bid [for them] to a cushy nearly $5 billion dollar bonanza through HUD today, to "rebuild" the homes     for the lower and poorer middle classes in the Katrina strike zone---those Homelanders are gonna be proud of ICF when they are back in their homeland homes [wink wink wink]! Read about it here......click! And don't cofuse ICF with ICC, it easy to do and that is a future story!!



    Some very very happy homelander Gulf Coast dolphins today at the ICF-HUD press conference on hearing that all will soon be well thanks to the homebuilding skills of ICF military software consultants!




    NEWS FLASH--Chief Justice John Roberts in the Treasury Department's ornate Cash Room with President Bush, Federal Reserve Chairman Ben Bernanke and other cash crazed dignitaries swore in FULLY LOADED former Goldman Sachs CEO, HENRY M. PAULSON JR., who has over $700 million in his own piggy bank alone, just for himself, as our new Secretary of the Treasury ... click here too read of monetary obesity!
    click here for the latest news coverage of the media wars surrounding the alleged SWIFT spy software that the U.S. TREASURY uses like a weapon against all other nations [in cahoots with the NSA] against our own citizens and against our affectionate allies, minus ISRAEL, and using millions and millions of illegal immigrants against our faithful and trusting citizens, and this is a PROMIS, not a speculation [that software can KILL!]




    click here for .... Wetlands Victory over Mitigation Banks and overturning of private duck hunting club's possession of the best wetlands in Huntington, Calif., going back to 1899!


    pls. note: THE ADRIAN REPORT is NOT
    The Colbert Report!

    Cocky in plans, or COCHLEAR implants? ... click and see!

     How NEURO PROSTHETIC IMPLANTS make "Synthetic Telepathy" work like a microscopic charm, NASA & the Univ. of Michigan!... "regarding the nano brain implants, the electrodes would pick up and receive microwave or RF signals from neurons and the ASICs would amplify and otherwise preprocess the outgoing or incoming signals for monitoring or remote viewing and remote listening by external RF equipment."

    The advances in neuroprosthetic devices, or microelectromechanical systems [MEMs], have shrunk these devices to such a microscopic size that they are able to be brain implanted now with no damage to or displacement of volume of brain tissue! -- our gratitude to INNOVATIVE TECHNOLOGY ASSETS MANAGEMENT, both in Pasadena, CA, and the West Virginia division! [do you also confuse the above with Innovative Management and Technology Serives [IMTS], and Unconventional Concepts, Inc.(UCI(R)?? It is so easy to do, it is as if they are all joined at the hip, phonetically!


    click here for Aug. 2006 story on nano brain implants in the

    BRAINGATE program

    and how you can change your satellite TV channels by telepathy!

    click here for a fascinating update on what you never even remotely knew was going on in synthetic telepathy and neural nano-architecture over in the fine state of WEST VIRGINIA!

    Goldman Sachs CEO, HENRY M. PAULSON JR., our new U.S. TREASURER, called "Hank" by his buddy trillionaires, also a former Chairman of The Nature Conservancy, a big investor in Army Corps of Engineers Mitigation Banks [wetland commercial development], and in DUCKS UNLIMITED, he also serves on the Advisory Board of the Tsinghua University and the Perregrine Fund! Wanna see our money go lickety split down to China faster than you can say GOLD or SACKS of Gold? This is a lot of BUCKS, I mean DUCKS UNLIMITED! Watch Hank pull off some pranks! [his own personal fortune is worth approximately $700 million, plus options for lots more!] --THE ECONOMIST

    What do you know about NATO in USA?





    What do you know about COCHLEAR IMPLANTS?



    What do you know about Ft. Campbell DARPA remote viewing & Anomalous Cognition?



    Read here how our troops giving their lives and families up in Babylon/IRAQ and are being swindled in junk loans and our Congress is just "dancing and prancing and spank'n da money!"

    UPDATE

    THE LINCOLN GROUP weapons bonanza, .... what you should know about how USA switched long ago from the likes of Ford Automobiles to the likes of FORD aerospace weapons and rockets, long ago, across the board in industrial and technological USA,with the support of countless military and civil contractors and consultancy firms

    UPDATE

    Read how the Beltway of Washington, DC, especially Fairfax weapons experts -- are spending our NO CHILD LEFT BEHIND funds on death rays, and are taking over SILICON VALLEY now that they own the Gulf Coast too!

    See also [somewhat related articles] BELOW:

    B.TRAVEN
    B.Traven, by Bryan Adrian
    STRIKE!
    Strike Now Against the Outsourcers & Merger Monster McKinsey Group!
    ELECTRONIC WHIP 1996
    The London Arabic pioneer E-magazine, THE ELECTRONIC WHIP....
    WHO WILL PUT A STAKE THROUGH THE GOD OF WAR?
    WHO WILL PUT A STAKE THROUGH THE GOD OF WAR? by Bryan Adrian



    This is it! Click here to read the latest update since Sept. 11th, 2001, on HR-1474, THE AMERICAN WETLANDS RESTORATION ACT and Mitigation "in-lieu" Banking!

    CHEVRON is SAVING our Wetlands for us and getting paid well to do it! ... read here to believe!


    WASHINGTON POST reports on neo-reactionary GW stacked Supreme Court trashing a nearly 35 year old Water Act that formerly protected WETLANDS from parking lot developers and condo building maniacs... click here or DUCK!

    DUCKS UNLIMITED ... pls CLICK here now to see how they fit into a major banking empire


    Here are some highly recommended sites:

    The REAL HISTORY of TED and TED-x conferences and videos .... click here to open your eyes and stop sleeping.....

    < ***

     

    "ANONYMOUS" recommended websites:

    DUCKS UNLIMITED

    https://www.angelfire.com/electronic2/haarpmicrowaves/Ducks_Unlimited_2006.pdf

    Reimportation of Drugs, PhRMA & Tea Party

    http://beaties_of_bulgaria.tripod.com/sandy.html

    http://beaties_of_bulgaria.tripod.com/NGO-OBSERVER/The_NGO_OBSERVER.html

    https://www.angelfire.com/electronic2/haarpmicrowaves/Varoufakis-NEVER-AGAIN.html

    http://rebbe_rocky.tripod.com/Jon_Stewart_NED.htm

    http://ikeya_zhang.tripod.com/NED-license-to-kill.html

    https://www.angelfire.com/planet/blacklisting_central/Temp_Slaves.htm

    How Illegal Immigration & Fannie Mae Set Us Up for the CRASH of 2008

    https://www.angelfire.com/planet/blacklisting_central/Adrian-2005-Report-Immigration.html

    Trump’s Chabad/Hasidic Stetson Hat Backers

    http://rebbe_rocky.tripod.com/CHABAD_gangsta_ties_TRUMP.html

    Rachel Maddow Rockets for Israel family

    http://rebbe_rocky.tripod.com/Rachel-Maddow-background.html

    Synthetic Telepathy & Elon Musk

    http://carpathian_bronze.tripod.com/synthetic-telepathy.html

    GROUND ZERO BOGUS
    https://www.angelfire.com/zine/cetaceandragon/Ground-Zero-Conspiracy.html

    SCAN of AISLING
    http://boudiccaarran.tripod.com/aisling_bryan_adrian.html

    click here for the "real dope" on who funds NPR