In late 2007, Goldman Sachs trader Matthew Taylor placed an $8.3 billion futures bet and hid it from his bosses. he hoped to receive a seven figure bonus and boost his reputation at the company. Now, he faces a possible long prison sentence.
In a Manhattan courtroom earlier this week Taylor pleaded guilty to a single count of wire fraud for concealing the trades, which cost Goldman $118.4 million to unwind. Prosecutors recommended a sentencing range of 2 to 3 years, based in part on Mr. Taylor's compensation for 2007-$150,000 in salary and an expected $1.6 million bonus-rather than the loss suffered by Goldman.
This latest plea comes as time is running out for prosecutors and regulators to bring actions related to the events that occurred in the months leading up to and during the economic downturn.
Matthew Taylor's case is the latest of many young trader whose career took a turn in the final months of 2007, just as the country was bracing for the economic crisis that followed. How long he will face behind bars is still not known. sentencing is due for July 26.
Susan Modaress, Press TV, New York
War is not about starting or ending them, and even less about who win or who loose. War is always funded 100% on both sites by the global banks (The IMF) with only TWO goals: Population reduction / genocide / mass killing in order to get forward to their main goal: WORLD DOMINATION and this is done from the very start by making sure the IMF system is in total control over the DEBT their war create. Controlling the DEBT of war IS the main purpose, in order to not just control the countries but to TOTALLY take EVERYTHING over !!! In other words: The pure purpose of a war, is the war it self !!
Entire eurosystem on verge of bankruptcy: Lawrence Freeman
A political analyst tells Press TV that the banking crisis in Cyprus shows that the entire Euro system has been completely bankrupt and has failed. The comments came after Russian President Vladimir Putin said that the banking crisis in Cyprus has revealed the unreliability of Western financial institutions. In an interview on Friday with Germany's state-owned ARD television before an April 7 visit to the European nation, Putin accused Cypriot and European Union leaders of undermining confidence in Europe's banks by taxing deposits as part of the island country's international bailout agreement.
Webster Tarpley is a philosopher of history who seeks to provide the programs and strategies needed to overcome the current world crisis. As an activist historian he first became widely known for his book George Bush: The Unauthorized Biography (1992), a masterpiece of research which is still a must read. Tarpley is a member of the "world anti-imperialist conference" Axis for Peace, of Scholars for 9/11 Truth and of a research Netzwerk of German 9/11 authors founded in September 2006. He is featured in the film, Zero: an investigation into 9/11 During 2008, he warned of the dangers of an Obama presidency controlled by Wall Street with Obama: The Postmodern Coup, The Making of a Manchurian Candidate and Barack H. Obama: The Unauthorized Biography. His interest in economics is reflected in Surviving the Cataclysm: Your Guide Through the Worst Financial Crisis in Human HistoryAgainst Oligarchy. He is currently completing a study of Pearl Harbor as an episode in Wall Street's war against President Franklin D. Roosevelt, the New Deal, and FDR's economic bill of rights. His books have appeared in Japanese, German, Italian, French, and Spanish. From 1974 to 1984, he was a correspondent in central Europe, during which time he co-authored Chi ha ucciso Aldo Moro (Who Killed Aldo Moro, 1978) a study of international terrorism. In 1979-80, he appeared as commentator for Teleradiosole, a television station in Rome. From 1984 to 1996, he was a correspondent in Washington DC. Tarpley is the co-author of George Bush: The Unauthorized Biography (1992), which has sold 30,000 copies and remains the only critical biography of the former President. In 1997 he published an anthology entitled Against Oligarchy: Essays and Speeches 1970-1996. These books can be consulted on the internet at www.tarpley.net. His 9/11 Synthetic Terror, the Bible of the 9/11 Truth Movement, has sold over 20,000 copies. His two books on Obama are virtually the only critical ones in print from a progressive viewpoint. Tarpley has lectured in numerous colleges and universities around the world. In 1995 he was named a consultant to the Universal Ecological Academy of Moscow. He holds an MA from Skidmore College and a Ph.D. in history from the Catholic University of America. Webster Tarpley's talk show World Crisis Radio is now broadcast on the Genesis World Report on GCNLive Free Internet Streaming Radio, Saturdays, 2:00 pm - 4:00 pm Eastern (1-3 Central, 11-1 Pacific), all 4 networks.
Last week an Exxon-Mobil pipeline burst, spilling out thousands of barrels of crude oil into Mayflower, Arkansas, damaging homes, lands, waters and wildlife. 22 homes were evacuated as a result of the rupture. Though Exxon-Mobil is working on cleaning the spill and has publicly stated that it will pay for all clean up costs. Experts state oil companies have made promises like these in the past but have been slow in doing them, if they do them at all.
This corrosive oil is the same kind that will be transported in the controversial Keystone XL pipeline which cuts through the United States, sparking fears over the damage it might do should it also burst.
The Keystone pipeline is nine times the size of the pipeline which ruptured in Arkansas. Momentum against the keystone pipeline has been building. Last month, 40,000 protesters descended on Washington to demand president Obama stop the pipeline's construction.
While public officials may be ignoring the continued deterioration of our economy, job losses to the tune of hundreds of thousands of people weekly, and the unprecedented demand for government emergency support services like unemployment insurance and food assistance, Americans who sense uncertainty in the air are flocking to the safety of physical resources. Our first point of interest is a recent report from the Federal Reserve that indicates some $114 billion dollars in cash was withdrawn from the nation's largest banks in the last thirty days. Those holding their money at bailed out financial institutions are understandably concerned because the government's $250,000 deposit insurance guarantee program, originally implemented to restore confidence in the wake of the 2008 financial crisis, expired at the end of 2012. That and the US fiscal situation has never been worse, with one Obama official recently having said the solution to the country's woes is to simply kill the dollar. According to the mint, investors purchased nearly half a billion dollars in gold and silver in the last 30 days. There was, in fact, so much money shifting into physical precious metals in January that the mint was actually forced to cease operations because they couldn't meet demand. A massive 7.4 million Silver Eagles were purchased from the U.S. Mint in January, considerably higher than the previous record from early 2011. At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost three years, suggesting the rising 'currency wars' are stoking people's ongoing rotation from paper-to-physical assets as their 'wealth' slowing loses its value. Why You Should Buy Gold and Silver People against the New World Order will often be interested in investing in gold and silver—particularly physical gold and silver—meaning they purchase coins or bars that they themselves take physical possession of, rather than just buying gold or silver stocks or certificates. The reason for this is because gold and silver are seen as real money, as opposed to a fiat currency like the US dollar. A fiat currency is a currency that isn't backed by gold or silver. Before 1971 the US dollar was backed by gold which meant that for every dollar in circulation, there was one dollar worth of gold in possession by the federal government or the Federal Reserve Bank. This was a way to keep inflation low since the gold supply only slowly increased, so then would inflation. But in 1971 President Nixon took the US dollar off the gold standard, meaning the Federal Reserve could print money and put it in circulation that was not backed by gold, so the rate of inflation was no longer connected to the amount of gold in existence, but rather to the number of dollars the Federal Reserve wanted to print. For decades, patriots and those in The Resistance had worried that the Federal Reserve Banking System, which is controlled by a group of private banks operating as if they were a government entity, would one day make the US dollar practically worthless because it would print so many of them it would create what is called hyper-inflation, thus destroying the value of the currency as was seen in the Weimar Republic in Germany in the 1930s, and recently in Zimbabwe, Africa where the inflation rate was so high that a bunch of bananas cost literally billions of Zimbabwe dollars. Since the year 2000 gold has went from $300 an ounce to over $1100 an ounce in the beginning of 2010. Silver has went from $5.25 an ounce to $18 an ounce in the same timeframe. Some market analysts predict that gold will hit $2000 an ounce sometime into the 2010 decade, and others are even predicting $5000 an ounce. Much of the increase in the price of gold and silver isn't because the metals are getting more rare, but rather the price is a reflection of the weakening US dollar. Gold and silver have been seen as a hedge against inflation for decades and most financial advisers recommend that 10% of a person's investments should be held in gold
History doesn`t just happen in black and white! What F.E.M.A. region do you live in? Sheeple of Amerika...4..3..2..1..Wake up!!
"The death of one good man is a tragedy, the death of thousands a statistic." -Stalin- I was thinking what would it take to implement this plan and get people to co-operate with as little resistance as possible if I was in power with unlimited resources and some top secret technology? The thing to do would be keep the majority of the people in terror and fear in the world first with a few "Natural Disasters" taking out the majority of 3rd world countries population, then while the rest of the world responds with Humanitarian Aid to the areas hit, begin an assault on the West through a combination of Natural Disasters and Terrorist Attacks causing an already stunned population more anxiety and trauma making them pliable to co-operate under the guise of help, shelter, and safety. It is the only way they can make this a reality. Extreme fear drives even the most knowledgeable to do things they wouldn't agree to in a calm state. I can not believe that the U.S. is alone on this.
Good video with various interviews of people explaining the current banking system, and explaining why the dollar will die. Don't let David Icke and Alex Jones throw you off (I know theyre both kinda suspect, I made sure it was real info), but they really don't talk long anyway (both are brief parts). Soak this stuff in fellas, really ponder how this will affect not only the whole of the US but the world in general.
The 2nd Sun / Brown Dwarf Star's return fits in perfectly with the bankers plans, but kept secret from the masses. This controlled collapse of the world economcy is premeditated and planned with the exact arrival of this 2nd Sun. It's called weath destruction and consolidation into a NWO, a one world goverment, a one world currency, and a one world religion in order to bankrupt the governments of the world and bring them to their knees for total control. This way they can take away all the blame from themselves and hide their real goal of pillaging the people and eventually forcing everybody in the entire world to accept a RFID chip in their hand so they can't buy, sell or trade without accepting this device. This way, they can track everything you do and your whereables. And if you resist or do or say anything they don't like, all they have to do is turn off your chip or make it explode and kill you with deadly poisons. These bankers will keep this financial mess going until they are able to let it all go with the passing of this 2nd Sun / Brown Dwarf Star