Fraud* According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain *As defined in Wikipedia
Sometimes things need to be said in a certain way in order to make an impact. Max Keiser does that very well. Here he is on Hank Paulson and other topics:
Does the Indefinite Detention Bill Foretell Future?
The recent passage of the National Defense Authorization Act (Senate Bill 1867), otherwise known as the “Indefinite Detention Bill,” should scare the heck out of anyone who loves the U.S. Constitution and the Bill of Rights. This bill effectively hands over control to the military to arrest, torture and even kill terrorists on American soil. It also allows the military to hold suspected terrorists indefinitely without a trial or due process. This applies to both non-citizens and citizens of the United States! With this bill, you are not innocent until proven guilty. You are guilty until proven innocent, and you may never get a trial to defend yourself. There is surprisingly little written in the mainstream media about this Senate bill that passed 93 to 7 at the end of November.
My question is who decides who is a terrorist, and who checks to make sure the charges are valid? If this bill gets through the House of Representatives, and is signed by the President, the military will answer to no one. The only hope of short circuiting this bill is for the House to put a stop to it. I think arch conservatives and arch liberals should unite and radically change this legislation to follow the Constitution instead of gutting it. You think that can’t happen? Senators Rand Paul and Al Franken are on the same page on this issue, and that represents both extremes of the political spectrum. Every American, no matter the party, should be terrified by this legislation whether you are Democrat, Republican or Independent.
Why The UK Trail Of The MF Global Collapse May Have "Apocalyptic" Consequences For The Eurozone, Canadian Banks, Jefferies And Everyone Else
Reuters' Christopher Elias has written the logical follow up analysis to our post, in which he explains in layman's terms not only how but why the lock up has occurred and will get far more acute, but also why the MF Global bankruptcy, much more than merely a one-off instance of "repo-to-maturity" of sovereign bonds gone horribly wrong is a symptom of two things: i) the lax London-based unregulated and unsupervised system which has allowed such unprecedented, leveraged monsters as AIG, Lehman and now as it turns out MF Global, to flourish until they end up imploding and threatening the world's entire financial system, and ii) an implicit construct embedded within the shadow banking model which permitted the heaping of leverage upon leverage upon leverage, probably more so than any structured finance product in the past (up to and including synthetic CDO cubeds), and certainly on par with the AIG cataclysm which saw $2.7 trillion of CDS notional sold with virtually zero margin. Simply said: when one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions as Jefferies, which as it turns out has spent weeks defending itself, however against all the wrong things, and Canadian banks, which as it also turns out, defended themselves against Zero Hedge allegations they may well be the next shoes to drop, as being strong and vibrant (and in fact just announced soaring profits and bonuses), yet which have all the same if not far greater risk factors as MF Global. Yet nobody has called them out on it. Until now.
2 COMMENTS:
Does the Indefinite Detention Bill Foretell Future?
The recent passage of the National Defense Authorization Act (Senate
Bill 1867), otherwise known as the “Indefinite Detention Bill,” should
scare the heck out of anyone who loves the U.S. Constitution and the
Bill of Rights. This bill effectively hands over control to the
military to arrest, torture and even kill terrorists on American soil.
It also allows the military to hold suspected terrorists indefinitely
without a trial or due process. This applies to both non-citizens and
citizens of the United States! With this bill, you are not innocent
until proven guilty. You are guilty until proven innocent, and you
may never get a trial to defend yourself. There is surprisingly
little written in the mainstream media about this Senate bill that
passed 93 to 7 at the end of November.
My question is who decides who is a terrorist, and who checks to make
sure the charges are valid? If this bill gets through the House of
Representatives, and is signed by the President, the military will
answer to no one. The only hope of short circuiting this bill is for
the House to put a stop to it. I think arch conservatives and arch
liberals should unite and radically change this legislation to follow
the Constitution instead of gutting it. You think that can’t happen?
Senators Rand Paul and Al Franken are on the same page on this issue,
and that represents both extremes of the political spectrum. Every
American, no matter the party, should be terrified by this legislation
whether you are Democrat, Republican or Independent.
http://usawatchdog.com/national-defense-authorization-act-indefinite-detention-bill-senate-bill-1867/
Why The UK Trail Of The MF Global Collapse May Have "Apocalyptic" Consequences For The Eurozone, Canadian Banks, Jefferies And Everyone Else
Reuters' Christopher Elias has written the logical follow up analysis to our post, in which he explains in layman's terms not only how but why the lock up has occurred and will get far more acute, but also why the MF Global bankruptcy, much more than merely a one-off instance of "repo-to-maturity" of sovereign bonds gone horribly wrong is a symptom of two things: i) the lax London-based unregulated and unsupervised system which has allowed such unprecedented, leveraged monsters as AIG, Lehman and now as it turns out MF Global, to flourish until they end up imploding and threatening the world's entire financial system, and ii) an implicit construct embedded within the shadow banking model which permitted the heaping of leverage upon leverage upon leverage, probably more so than any structured finance product in the past (up to and including synthetic CDO cubeds), and certainly on par with the AIG cataclysm which saw $2.7 trillion of CDS notional sold with virtually zero margin. Simply said: when one truly digs in, MF Global exposes the 2011 equivalent of the 2008 AIG: virtually unlimited leverage via the shadow banking system, in which there are practically no hard assets backing the infinite layers of debt created above, and which when finally unwound, will create a cataclysmic collapse of all financial institutions, where every bank is daisy-chained to each other courtesy of multiple layers of "hypothecation, and re-hypothecation." In fact, it is a link so sinister it touches every corner of modern finance up to and including such supposedly "stable" institutions as Jefferies, which as it turns out has spent weeks defending itself, however against all the wrong things, and Canadian banks, which as it also turns out, defended themselves against Zero Hedge allegations they may well be the next shoes to drop, as being strong and vibrant (and in fact just announced soaring profits and bonuses), yet which have all the same if not far greater risk factors as MF Global. Yet nobody has called them out on it. Until now.
http://www.zerohedge.com/news/why-uk-trail-mf-global-collapse-may-have-apocalyptic-consequences-eurozone-canadian-banks-jeffe?
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