» Business Corporate Fraud
CIT Bankruptcy: Taxpayers Stiffed on Company's Bailout Billions While Execs Reap Bonuses
Nov. 2, 2009 If people were pissed off about AIG's temporary decline and permanent bonuses, CIT's bankruptcy ought to enrage them. The giant lender to businesses is heading for a quick in-and-out in bankruptcy court, and when it emerges, taxpayers will be the ones who have gotten the ol' in-out: CIT won't have to repay its $2.33 billion TARP bailout. CIT's been in deep trouble for way more than a year.. » read more
Watchdog: Unlikely That Taxpayers Will Recover $81 Billion Given to GM & Chrysler
Nov. 2, 2009 On the same day that Ford -- the one member of Detroit’s Big Three that did not receive a taxpayer bailout -- reported a quarterly profit of nearly $1 billion, a government watchdog warned that taxpayers are unlikely to recoup all of the $81 billion the Treasury Department has invested in General Motors and Chrysler. In a new report released Monday afternoon, the Government Accountability Office stated, “Treasury is unlikely to recover the entirety of its investment in Chrysler or GM, given that the companies’ values would have to grow substantially above what they have been in the past.” Since December 2008, Treasury has invested $81.1 billion in the two automakers, more than 12 percent of the total funds available from the $700 billion Troubled Asset Relief Program.. » read more
IBM Knew About Pandemic in 2006 (with video)
Nov. 2, 2009 A document has surfaced revealing IBM was aware of the current H1N1 “pandemic” in 2006. Excerpts from “Services & Global Procurement pan IOT Europe, Pandemic Plan Overview,” an official inter-departmental document distributed to upper-level management of IBM in France during 2006 are posted on the Prevent Disease website. The document predicts a 100% chance of a “planned” pandemic occurring within five years. The document provides more evidence IBM and other large corporations are on the inside track in relation to the manufactured and orchestrated pandemic now unfolding.. » read more
China taps huge copper reserves in Afghanistan
Oct. 31, 2009 WASHINGTON – At a former al-Qaida stronghold southeast of the Afghan capital, a state-owned Chinese company is at work on a $3 billion mine project to tap one of the world's largest unexploited copper reserves, a potential financial boon for an impoverished country mired in war. The promise of a bright future at Aynak, however, cannot conceal the troubling reality of how business is often done in Afghanistan, according to critics of the Kabul government's decision to reject bids from competitors in the U.S., Canada and other countries.. » read more
How Goldman secretly bet on the U.S. housing crash
Nov. 2, 2009 WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.. » read more
Confirmed: Skin cream contains fetal proteins
Oct. 28, 2009 Company's anti-aging products built on cells harvested from aborted baby One of Neocutis' skin products containing PSP A pro-life organization is blasting a Switzerland-based cosmetics manufacturer whose website openly admits some of its products were developed from the tissues of an aborted baby. Children of God for Life is a non-profit organization focused on the bioethics of embryonic tissue use in medicine and manufacturing. One of its current campaigns includes petitioning pharmaceutical companies to produce safe, effective alternatives to vaccines derived or cultivated from aborted fetal tissue. Deliver the pro-life message with a "Former embryo on board" magnetized bumper sticker But the organization's attention has now turned Neocutis, a company with offices in San Francisco which has developed a line of anti-aging products that include an ingredient the company has trademarked as Processed Skin Cell Protein, or PSP, developed from skin cells harvested from an abortion.. » read more
Devastating "Free Market" Reforms Imposed on Serbia
Oct. 28, 2009 A dozen years ago, neoliberal political forces took power in Serbia, promising a radical transformation of the economy. Today, deep into that transformation, Serbia is foundering from its effects exacerbated by the worldwide economic downturn. Industrial production has fallen 15 percent compared to the average of last year, (1) while unemployment remains high. A delegation from the IMF is in Belgrade, negotiating over Serbia's 2010 national budget and how best to deal with the economic crisis.. » read more
Iceland says goodbye to the Big Mac
Oct. 26, 2009 REYKJAVIK, Iceland – The Big Mac, long a symbol of globalization, has become the latest victim of this tiny island nation's overexposure to the world financial crisis. Iceland's three McDonald's restaurants — all in the capital Reykjavik — will close next weekend, as the franchise owner gives in to falling profits caused by the collapse in the Icelandic krona. Mon Oct 19, 11:27 AM ET Previous 10 of 18 Next A sign stands outside of a McDonald's restaurant, in February 2009, in San Francisco, California. Von Worley, 39, put his talents to work and drew up a map pinpointing the locations of all of the over 13,000 McDonald's restaurants in the continental United States -- the "Lower 48" states excluding Alaska and Hawaii.. » read more
WAL MART CASH-BACK SCAM !
.hmmessage P { PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px } BODY.hmmessage { FONT-FAMILY: Verdana; FONT-SIZE: 10pt } ----- Original Message ----- From: St To: *Patrick Bellringer Sent: Sunday, October 25, 2009 2:56 PM Subject: FW: Cashback Scam Cashback Scam Freeway 45, Houston, TX 77037 a month ago. I bought a bunch of stuff, over $150, & I glanced at my receipt as the cashier was handing me the bags. I saw a cash-back of $40.. » read more
Nissan To Be Held Accountable For Committing Securities Fraud
Oct. 24, 2009 Nissan To Be Held Accountable For Committing Securities Fraud What If? The Issue of Securities Fraud, Retitling Cars, and Rico Charges Were Exposed upon Commission of the Crime? The question asked in the title of the paper can be answered very simply. Thank God this was not fully exposed at the time. At the time of the commission of retitling the cars and committing the other infractions of American law, the automaker in question was riding relatively high with good car sales and a system of importing easily into the country. It was not too long after the Governor of Tennessee had hosted the Jetro and other Japanese associates of the car industry at a reception at the Governor's mansion.. » read more
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