Archive for August, 2010
This article was sent in this morning and I thought it might be of interest to some of you.
I know I recognize lot of this man’s current life’s problems.
The sordid intervention of derivatives in all of our lives will sometime soon have to be faced up to
We are approaching the event horizon of this apocalyptical event
Everything is been sucked in and when it has consumed everything we will see the mother of all bubbles burst. With the announcement of the Anglo Irish Banks half yearly results and the results of Irish Life & Permanent, there is no mention of their derivative positions and the catastrophic losses there are still hiding from the public (Proof Anglo Irish deals in derivatives (CFD,s) you only need to read this article in the Irish times )http://www.irishtimes.com/newspaper/finance/2010/0827/1224277688678.html?via=rel
with the full knowledge of the current corrupt government
you have been warned!
By John Mele :
You want to know who I am? First, I’ll tell you who I was.
I joined the Marines when I was 18, went to Vietnam when I was 19, was an 0331 machine gunner, survived a tour of duty in heat and humidity in the mountains of northern South Vietnam near the DMZ. My rear base, the Rockpile, was the most remote base in Vietnam at that time, or so we were told. I survived that war and when I got home I used the GI Bill to get into the Boston Architectural Center, a night school of Architecture. I worked days a few years as a construction laborer and then as an office boy in an architectural office. I got married, was accepted to the University of Oregon and got my BA in architecture in ’77, worked, moved a few times (due to recessions), had two beautiful daughters, raised my family, etc.
After Nam I straightened out, as they say, and sailed a pretty solid course even when the seas of the economy were rough. We had our ups and downs, weathered financial recessions, lost one home and built another, finally settled in Knoxville, TN where I had my own architectural business mainly because I couldn’t work in a cubicle with 400 other architects.
But in ’09 that all changed. This is who I am now.
I am a former Marine, Vietnam war veteran, mad as hell and about to lose my home again. As far as I could tell, our entire financial system collapsed. I mean take forty to fifty years of “economic progress” and just dump it. That is in essence what happened. Many are still clinging to it, hoping for its revival. Something will recover but that something will never be what it was before. In ’09 they changed all the rules. The jobs disappeared, gone to China and India. Guys like me and those before us built this great land and were no longer needed. The bridges, the skyscrapers, the industrial centers, the homes, highways, dams and byways, all built by us, was now thrown away as the “financial system” did not need us anymore. Things called “derivatives” took our place. The US auto industry was on the ropes, banks were collapsing, Wall Street was in chaos, and millions saw the future as a place of unemployment or low paying jobs, if one was available.
So, I decided not to follow the same path I’d been on. With no prospects for work and a boiling anger about–what I felt–was a stolen future for me and my country, I decided to take some alternative actions. I had not failed, the system had failed me and I was determined not to give up but also not to be a fool. I was 60 and soon no matter what I did age would get me. Do I go down playing by the ever-changing rules of financial insanity that I was being forced into? Do I take any job and try to keep the home I spent a lifetime working for? In short, do I suck it up again, go to where I must and start over again at 60 and keep my mouth shut and show up for work and do this until I am dead?
Hell, I’d rather charge up a hill and give it my all to save my “SPIRIT”, because that is the most precious part of any of us. Think “Geronimo” and replace it with “Whitehorse” and you get an idea of WHY I planned this. One last gasp, one last charge, one last mission till the forces of my destiny would overtake me. Would I die trying, if so I was willing to face and accept that? Would Whitehorse save me? I had no idea. I had no idea! It all started with a joke I said to my wife. After repeating it a few times it made more sense than what I was seeing around me.
The inequalities of life invade all our lives. In essence we all make decisions within the confines of the hand we are dealt. At age 60 I decided to challenge that hand one last time and in doing so set my SPIRIT FREE.
I am cycling to Whitehorse, on a bike with a 65 pound pack, a 3700 mile trip…I’ll see you there, if I last…
Irish Life & Permanent
has reported an operating loss of €10m in the six months to June this year, compared with a loss of €51m in the same period last year. Operating profit in its life business in the six months was €118m, 40% higher than in the same period last year
This is bad news for the 180,000 mortgage customers, with around 9,000 in arrears, a number that I would expect to increase over the next couple of months as the con artist at the head of this bank continue to rip off their own customers by charging up to 300% interest on their mortgages
Current interest rat at the ECB is 1% and these crooks are charging 4.5% =300%
The latest operating losses at its banking business of €131m, almost unchanged from €132million last year, Irish Life & Permanent will no doubt be exploiting to the full the unflinching support from the equally corrupt and dysfunctional Department of Finance who are by the way supposed to be investigating Irish Life & Permanent’s fraudulent transactions of deposits to Anglo Irish Bank to help it effectively defraud its own shareholders.
Irish Life & Permanent management are still harbouring some of the culprits responsible for this fraud and as long as nobody is brought before the courts I for one will continue to call for the culprits to be rooted out
The hard pressed mortgage customers of this bank should not have to pay for the fraudulent and corrupt actions of the senior management at this bank and so I call on all 180,000 customers of Irish Life & Permanent to refuse to pay the illegal interest rate hikes and boycott this bank.
Join the cause on facebook http://www.causes.com/causes/521544?m=99681795
Mr. Aynsley of Anglo Irish Bank last night hit out at the Green Party’s call for a wind-down of the nationalized lender.
He would wouldn’t he! Nobody likes to have to leave a party in full swing! And he is having a ball at the expense of the Irish taxpayers sitting on a nice fat salary and pension with no pressure to deliver profits.
Disastrous results is the new norm that is expected from his boss the Minister of Finance Brian Lenihan who is an expert at getting his figures wrong .
Any other CEO would be fired on the spot
I would like to know why the greens have now decided to jump ship as it were. with Anglo chief executive Mike Aynsley coming out yesterday warning of “horrendous” results on the way do they know something else that is hidden from the rest of us?
Mr. Aynsley was scathing in his response to the Greens’ comments, saying it was “difficult to understand” “While some of the information is commercially sensitive,(another way of saying we won’t tell you everything least of all the real truth) we are more than willing to sit down with interested parties and take them through it,” he said. “If the Green Party’s Finance spokesman is interested in getting an informed perspective he is more than welcome to meet us,”
Well Mr. Aynsley I’m an interested party along with the rest of the Irish public.
Does your invitation extend to the citizens that have to pay your salary?
No is the answer here again here is some more code
Sources in the bank stressed that it would be “no surprise” if the European Commission imposed some limitations on Anglo’s so-called ‘good bank’
In other words the EU has major doubts about this half-baked idea to Split the bank up
I believe it is an attempt by the boys to dump all the toxic crap onto to the taxpayers of the country and keep themselves in good jobs and run with the choice assets.
In other words good old “asset stripping “to the tune of 10,000,000,000:00 Billion euro
We the public have been lied to from the outset by Brian Lenihan who claimed that the whole Anglo bailout would cost 4.5 billion but so far we are looking at a minimum of 36,000,000,000:00 billion that we know of, but it could be a lot more maybe up to 50,000,000,000:00
The rising cost of rescuing Anglo was partly responsible for a surge in Irish bond yields last week with interest rates reaching highs of 5.9pc.
Another interesting point made yesterday by Minster Ahern was his statement that
“There was no political difficulty with the Greens and indeed Fine Gael as he claimed they were all on board in accepting the governments stated objective for Anglo Irish Bank
So voting for Fine Gael would be a vote to continue the same bailout madness to the top developers and bank fraudsters still sitting on the boards of the corrupt banks.
Now I see why Edna Kenny was so at home, as he crewed around the fairways of the K-club.
Why he is amongst friends and you always look after your friends in the political world .
There are places in moor street Dublin just like these and you can stay all night and even have breakfast I saw for myself people sleeping at their PC ,s
all were Chinese and they looked quite young too !
The Rotten Heart of Europe?
by Arno Tausch
A technical note on EMU and the rise of world-wide narco-capitalism