|
Banned
|
Quote:
|
Originally Posted by samcol
Yes, and they did a great job on 9/11, whereas a private FAA might of allowed the pilot to carry firearms to stop hijackers.
|
Blackwater is "private"...and it's working out great as a surrogate for "in-house", State Dept., secuirty, isn't it?
Enron was "private"...so was Worldcom....and Citicorp is "private", with an 80 plus year history of corruption:
Quote:
http://www.time.com/time/magazine/ar...5272-2,00.html
Damnation of Mitchell
<h3>Monday, Mar. 06, 1933 </h3>
......1) That his remuneration from National City bank and its affiliates for the year 1927 was $1,081,230; for the year 1928, $1,341,634; for the year 1929, $1,133,868—a grand total for three years service of $3,556,732.
2) That in 1929 National City through its security affiliate National City Co. had put on the most flamboyant high-pressure bank stock selling campaign in all history. By all manner of devices, National City salesmen had sold 1,900,000 shares of National City stock to the public for some $650,000,000.
3) That National City loaned $2,400,000 to a score of its own officers to help them carry their stock (largely National City) after the crash, that only 5% of these loans have since been repaid.
4) That National City employes on the other hand are still paying (from their salaries) for 60,000 shares of National City stock purchased at $200 a share and that these employes still owe more than the present market price ($30).
5) That National City Bank financed its affiliate's pool operations in copper stocks. That National City Co. put on a whirlwind selling campaign in Anaconda copper in 1929, got the public to buy 1,300,000 shares at about $120 a share. Present price: $5½.
6) That through an issue of its own new stock in 1927 National City Co. bought $25,000,000 of stock in General Sugar Corp., boneyard of National City's Cuban sugar properties. With this cash General Sugar "bailed out" National City Bank's bad sugar loans. The Company has since written this investment down to $1.
7) That to avoid payment of a 1929 Federal income tax he sold 18,000 shares of his National City stock to a member of his family at a $2,800,000 loss.*
Senator Couzens, serving one day as temporary chairman, made Mr. Mitchell squirm when he asked him whether he considered himself a better salesman than a financier. "I understand you have quite a reputation as a salesman and a financier both." Mr. Mitchell did not think the question fair, but replied: "I have rarely seen an executive who has to do with the public and the management of a great corporation who might not be called a good salesman." Senator Couzens: "I would judge you a better salesman . . . and that is no disparagement of your financial ability." Snapped Mr. Mitchell: "Thank you for the compliment." ......
|
Fast forward 70 years...to National City Bank's sucessor....Citicorp:
Quote:
http://www.oag.state.ny.us/press/200...apr28a_03.html
For Immediate Release
April 28, 2003
CONFLICT PROBES RESOLVED AT CITIGROUP AND MORGAN-STANLEY
Settlements Part of Spitzer-Inspired "Global Resolution" of Wall Street Investigations ....
.........Spitzer's office was responsible for investigating Citigroup's Salomon Smith Barney, now called Citigroup Global Markets (SSB). Key findings of this investigation are as follows:
* SSB failed to manage conflicts of interest between its research and investment banking divisions;
* SSB published fraudulent and misleading research that promoted investment banking clients and harmed investors, in a manner which violated New York's Martin Act;
* SSB ignored internal warnings that its research product had become "basically worthless;"
* SSB's star telecom analyst, Jack Grubman, had undisclosed conflicts of interest; and
* SSB engaged in improper spinning and public offering stock distribution practices.
Pursuant to the settlement, SSB must adopt all of the terms and provisions of the global resolution and pay the most of any firm -- $400 million. In addition, the company will adopt a series of measures above and beyond the reforms contained in the global resolution. These measures include:
* CEO of Smith Barney (SSB's research division) will report periodically to three separate committees of the Citigroup Board of Directors on the objectivity, independence and quality of the company's research and on the company's progress in complying with terms and provisions of the global settlement. To aid the independence of the reporting process, no senior Citigroup executive will participate in these meetings;
* CEO of Smith Barney will also advise the Attorney General that these reports have been made;
* SSB will adopt procedures preventing senior executives of Citigroup, who function as an investment banker on a company, from directly communicating about that company with research analysts covering the company;
* Citigroup Global will make a public statement of contrition for failing to address conflicts of interest.
Separately, Grubman, formerly of SSB, has signed an Assurance of Discontinuance, the terms of which include:
* A life-time ban on functioning as a broker, dealer, investment advisor, employee of investment company or municipal securities dealer; and,
* A $15 million payment, which cannot be reimbursed or indemnified.
"Because of its record of violations, Citigroup faces additional requirements that go well beyond the global settlement. These provisions are necessary and appropriate, and my office will be vigilant in ensuring full compliance by the company," Spitzer said.
|
....Isn't it possible, that the solution that is needed is the mirror opposite of what you and Ron Paul advocate....??? Your goals would leave the entire "money party"....a corrupt selfish, bi-partisan monolith that zealously keeps the influence and the holdings of the wealthiest ten percent, in their hands...<h2>.....IN PLACE....but taxed less...and with the window dressing that now passes for government regulation and oversight of their agenda and activities....reduced even further......</h2>
I posted a reply to comments of Cynthetique, over on the Hillayr/Healthcare thread.... http://www.tfproject.org/tfp/showpos...&postcount=237 ... it shows via statistical comparisons from the CIA factbook, that the status quo of wealth distribution in the US today, results in US distribution...too many in poverty, too much consumption by the richest ten percent, vs. the poorest.....and a Gini co-efficient nearly twice that of Denmark's....<h3>....makes the US economic conditions seem much closer to those in Mexico, than those in Denmark...or in France.....</h3>
Does quality of life of the average American mean anything to Paul or his supporters? All you will do, if you enjoy any success...is consolidate even more power and wealth into the hands of those who already hold too much of both.....and you seem eager to do their bidding......
Last edited by host; 10-12-2007 at 12:41 PM..
|