America’s Dirty Little Secret – We are Bankrupt!

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David Walker, the Comptroller General of the United States proclaims that our current standard of living is unsustainable unless drastic action is taken. He warns that funding shortfalls for the Medicare program is five times worse than Social Security, and it will take $8 TRILLION to pay for what is promised today to beneficiaries, of which we have ZERO!

This unrealistic “promise” is fiscally irresponsible and is mortgaging the futures of our children and grandchildren.

Watch as the federal government’s dirty little secret is revealed!

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The the United States Top Accountant, the person who monitors and US Budget and Spending. And he is the one raising the alarm bells!

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Even CNN, seems to be reporting part of the truth for a change – American has got nada – no mo money – bankrupt – in debt! Why does it take so much effort to wake up Americans from their slumber? Zombies would have an easier time understanding the facts.

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Learn who REALLY controls the U.S.Dollar and how these people are destroying America by design. The Federal Reserve Bank is neither Federal nor a Reserve nor a real Bank. Owned by a corrupt group of International Bankers, it is a privately owned monopoly, largely responsible for creating America’s National Debt. It is also a parasitic and unnecessary entity that literally creates American currency out of nothing and then collects interest on the backs of taxpayers for doing so.

Ever wondered why we keep trying to guess “Fed Speak”? Why are politicians elected to represent the people guessing and begging a private banker if he will or will not raise interest rates?

Read the full story, on Wikipedia;

Some believe the Federal Reserve System is shrouded in what its critics call excessive secrecy. Meetings of some components of the Fed are held behind closed doors, and the transcripts are released with a lag of five years.[69] Even expert policy analysts are unsure about the logic behind Fed decisions.[70] Critics argue that such opacity leads to greater market volatility, because the markets must guess, often with only limited information, about how the Fed is likely to change policy in the future. The jargon-laden fence-sitting opaque style of Fed communication, especially under the previous Fed Chairman Alan Greenspan, has often been called “Fed speak.”[70]

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Turncoat Lieberman to be McCain’s Vice President

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By Tom Curry, National affairs writer, MSNBC

WASHINGTON – In the spring of 2004 Democratic presidential nominee Sen. John Kerry made overtures to Sen. John McCain, the Arizona Republican, to be his running mate.

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A Kerry-McCain ticket had a compelling logic: it would have given Kerry a chance to outflank President Bush, to win some Republican voters, and to carry McCain’s state of Arizona and its ten electoral votes.

Will McCain, now a leading contender for the 2008 GOP nomination, borrow Kerry’s idea and offer the vice presidency to Sen. Joe Lieberman, Connecticut’s self-styled “independent Democrat”?

Turncoat Lieberman to be McCain's Vice President Certified Kosher

The McCain-Lieberman duo showed a warm camaraderie Friday during their joint appearance at the American Enterprise Institute, an event where they both called for a substantial increase in the number of U.S. troops in Iraq in order to impose order, stop ethnic cleansing, and give the Maliki government a chance to succeed.

Praise for McCain’s ‘gutsy position’
Lieberman lavished praise on his Arizona ally. Alluding to his own re-election victory in Connecticut over anti-war candidate Ned Lamont, Lieberman said, “I just finished an election campaign. If rumors are correct, he may be starting one. And he’s not taking the easy way out here.”

McCain, he said, “is doing what he sincerely believes is best for the national security and safety of our country… John’s taking a gutsy position.”

There’s an affinity of personnel, as well as of ideology, between the Arizona Republican and the Connecticut Democrat: McCain’s spokesman in 2004, Marshall Wittmann, now works as Lieberman’s spokesman.

The McCain-Lieberman duo has worked closely in the past on several issues:

  • In 2003, they co-sponsored the Climate Stewardship Act to limit emissions of global warming gases by electric utilities, industrial firms, and refineries.
  • They were leading members of the “Gang of 14,” the bipartisan group of senators who devised a way to avert a fight over judicial filibusters that would have shut down the Senate in 2005.
  • They have been two of the prime movers in Senate efforts to restrict donations to political campaigns.
  • The duo led the push for military intervention by the United State in Kosovo in 1998.
  • “Joe Lieberman and John McCain’s moral leadership in Congress helped make it possible for Wesley Clark to stop ethnic cleansing in Kosovo,” said Jano Cabrera in January of 2004, when he was Lieberman’s’ campaign spokesman.

     

    Turncoat Lieberman to be McCain's Vice President Certified Kosher

    So what would Cabrera think now of a McCain-Lieberman ticket in 2008?

    Would voters back a hawkish ticket?
    “With the caveat that it’s far too early for this type of speculation, birds of a feather do flock together,” Cabrera said. “And in a nation as politically polarized as ours, a bi-partisan maverick ticket could be incredibly formidable. But before we all start counting our independent chickens, there would also be a significant downside: a pro-war, pro-surge ticket. Barring a radical turn of events in Iraq, I can’t imagine ‘Vote Hawk’ serving as an effective rallying cry in ‘08.”

    He added wryly, “Before the imaginary general election comes the real primary. Since Sen. Lieberman hasn’t declared he’s running, talk of him picking McCain as his running mate is premature.”

    One prominent Democrat, Maryland Democratic Party chairman Terry Lierman, had a joking response to the notion of a McCain-Lieberman ticket: “Does McCain need Lieberman to attract Republican votes?”

    In a serious vein, he said, “The American people will be looking for a ticket that brings positive change…A damaged senator — as much as I like him — and an Iraq War hawk — as popular as he might be otherwise — might not be the change we’re looking for.”

    Dante Scala, who teaches political science at Saint Anselm College in New Hampshire, said a McCain-Lieberman pairing “would most likely not pan out for three reasons.”

    The first, he said is that Lieberman is a Democrat and “it would anger a good part of the Republican Party faithful” if McCain passed over a qualified Republican in order to pick Lieberman as his running mate.

     

    The age liability

    The second problem as Scala sees it, is Lieberman’s age (he’ll be 65 next month) which combined with McCain’s age (70) would create an Older Guys ticket.

    “Then they’ve got a problem if there’s a clear generational choice” if the Democrats were to nominate a relative youngster such as Sen. Barack Obama, the 45-year old junior senator from Illinois.

    Third, Scala said, “I don’t know if this ticket would attract many committed Democrats to vote for McCain.”

    But if McCain were to roll the dice, Lieberman would give him a better chance to win Connecticut, with its seven electoral votes.

    And Lieberman’s appeal to Jewish voters could make a difference in states with significant Jewish populations such as Florida.

    Brandeis University historian Jonathan Sarna, who has studied voting history of Jewish voters, said, “The 2006 election in Connecticut demonstrated that Lieberman still commands a significant Jewish following, but not as strong a following as he enjoyed in 2000. Lieberman’s support of the Iraq war, his views on religion in public life, and his endorsement of Republican efforts to prevent the removal of Terri Schiavo’s feeding tube distanced him from some Jewish voters.”

    TV network exit polls Lieberman got 65 percent of self-identified Jewish voters in Connecticut last November.

     

    “My guess is that the Connecticut results anticipate how a McCain-Lieberman ticket would be viewed by the Jewish community,” Sarna said. “At least at third of Jewish voters would find the ticket insufficiently liberal and would vote against it. Whether the ticket could command two-thirds of the Jewish vote depends on who the other candidates are.”

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    Jerome Kerviel, French Trader Had an Accomplice

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    Collaboration at Société Générale? 2nd person taken into custody

    By Nicola Clark, Katrin Bennhold and James Kanter

    Friday, February 8, 2008

    PARIS: A French investigation into Jérôme Kerviel, the former trader who Société Générale says cost it nearly €5 billion, or more than $7 billion, last month, took on wider dimensions Friday as French financial police interrogated a second person in relation to the case, calling into question the bank’s assertion Kerviel had acted alone in setting up billions of euros worth of fictitious trades.The news came as a Paris court bowed to prosecutors’ arguments that Kerviel should be taken into custody, partly to prevent him from having contact with significant witnesses in the case.Legal experts said that the revelation that Kerviel – who courtroom observers said appeared shocked by the decision to detain him – might not have been the lone operator the bank has made him out to be suggested that oversight of Société Générale’s trading room may have been recklessly lax. That may put added pressure on Daniel Bouton, the bank’s chief executive, and other top managers to explain more fully the circumstances that led up to the losses.”

    It really suggests a higher-level failure of risk management than we thought two weeks ago” when the bank initially disclosed its trading losses, said Christopher Mesnooh, an international business lawyer based in Paris.”It’s one thing to overlook one person, but if it’s two people then it begins to stagger the imagination,” he said. “It looks as if there was probably a greater deal of collaboration than has so far been disclosed, as well as oversight failure.”

    According to two people with knowledge of the investigation, Société Générale has provided prosecutors with new evidence related to Kerviel’s fictitious trades, including a series of electronic message exchanges between Kerviel, 31, and Moussa Bakir, a 32-year-old broker at Newedge, Société Générale’s futures brokerage unit formerly called Fimat, that were sent using the bank’s internal computer system.

    According to these people, who requested anonymity because they were not allowed to discuss the case, one such message, sent by Bakir to Kerviel on Nov. 30, read: “You have done nothing illegal in terms of the law.”

    Both added that this message was only a “small part” of the communications linking the two men and that there was more “interesting” correspondence that had yet to be disclosed.

    The message was sent four days after Eurex, the Frankfurt-based derivatives exchange, had sent a query to Société Générale’s compliance department on Nov. 26 demanding clarification of several suspicious trades of stock index futures that Kerviel had made.

    This was the second letter from Eurex in less than three weeks questioning Kerviel’s investment strategy and, in particular, asking about his habit of entering trades through a broker at Fimat, rather than from Société Générale directly.

    In a letter Nov. 7 letter to Société Générale, Eurex even inquired whether Kerviel had entered the transactions automatically or manually.

    “Please explain the background for this procedure,” two Eurex officials wrote.

    Investigators are also examining Kerviel’s mobile phone bills, which Jean Veil, a lawyer for Société Générale, earlier this week described as unusually high, suggesting, he said, that there “could have been” others involved.

    Veil emphasized the bank had found no evidence to suggest that Kerviel had accomplices.

    “That said,” Veil said, “I am asking myself how he could have built up a €1,000 monthly cellphone bill given that he worked all day long in an office with telephones.”

    A spokeswoman for the Paris prosecutor’s office, Isabelle Montagne, confirmed that the police had taken a male employee of Newedge into custody around midday on Thursday and that he was expected to be held for questioning until around midday on Saturday.

    She added that the police had also raided Newedge’s offices on the Champs-Elysées in central Paris on Thursday, taking documents and computer files.

    A spokeswoman for the Société Générale, Joelle Rosello, declined to comment, saying the bank was “cooperating closely with the investigation.”

    Société Générale last month merged Fimat into Newedge, a joint-venture with the futures brokerage unit of Calyon, the investment banking arm of Crédit Agricole, another French bank. Spokespeople for Newedge referred all inquiries about the matter to Société Générale.

    Stéphane Bonifassi, a business crime expert at the law firm Lebray & Associes in Paris, said the emergence of Bakir as a possible accomplice could have played favorably for the prosecution at the hearing Friday.

    “The prosecution played it very subtly by having this other guy in the background,” Bonifassi said. “That there is this other guy may have strengthened the need to place Kerviel in pre-trial detention to avoid them talking together or coordinating their stories,” a risk often used to justify a request for pre-trial detention, he said.

    Frédérik-Karel Canoy, a lawyer acting for small shareholders who was present as the ruling was read, said that when informed of the decision, Kerviel appeared as if “the sky had fallen on his head.”

    “When he heard the words ‘placed in detention’ you could see his body crumple slightly as if it suddenly hit him that he really was going to prison,” Canoy said. Another lawyer who was present said that Kerviel was escorted away from the hearing room by three gendarmes but that he was not handcuffed. Kerviel’s lawyer, Elisabeth Meyer, wept, Canoy said.

    Looking ashen-faced as she addressed a crush of cameras after the verdict, Meyer spoke in short, clipped sentences and vowed to appeal the decision.

    “I cannot explain this decision,” Meyer said. “He’s met more than his match,” she said of Kerviel.

    Ulrike Weiss, a spokeswoman for the Paris prosecution described the court’s decision as being “in line with our arguments.”

    The Paris prosecutor, Jean-Claude Marin, last month requested that Kerviel be detained to protect him from media and professional pressure and because of concern about his mental health – and the possibility of suicide – before a trial.

    Veil, the Société Générale lawyer, said the decision also reflected the concerns of prosecutors and the bank’s defense team that letting Kerviel go might risk interference with important witnesses or evidence in the case.

    Kerviel, who was held by the police for two days of questioning last month was released under judicial supervision on Jan. 28. But that decision, by investigating judges in the case, was appealed by the prosecutor, Marin, which prompted Friday’s hearing.

    Weiss, the prosecution spokeswoman, said that Kerviel could be detained for a period of between four and 12 months.

    Kerviel was taken to La Santé prison, close to the center of Paris, where high-profile suspects like business leaders and politicians are often held while under investigation, according to Christophe Reille, his lawyer’s spokesman.

    Kerviel is being investigated on allegations of forgery, breach of trust and illegal computer use, but he has not been formally charged with a crime.

    In France, before formal charges can be brought, a judge must complete an investigation. If convicted, Kerviel could face a maximum sentence of three years in prison and a fine of €370,000.

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    Bonifassi said that any chances of an appeal by Kerviel against an detention would be unlikely to succeed.

    “I’d give an appeal extremely thin chances,” Bonifassi said.

    He also said that the decision Friday represented a preliminary judgement on Kerviel’s guilt.

    “Although judges will not admit it because pre-trial detention should not be based on feelings about someone’s guilt, the decision does show a feeling among the judges that he is guilty of something,” Bonifassi said.