Video: Greg Palast Confronts The Generalissimo of Globalization

Investigative journalist Greg Palast travels to Geneva to ask some hard questions about the WTO’s latest attempts to win a losing game

Video: They Cooked The Books – The Video That Will Put Geithner Behind Bars – Mike Whitney

(InfoClearingHouse) – You gotta see this! If this doesn’t convince you that the Timothy Geithner knew about the securities shenanigans that were going on at Lehman, than I don’t know what will.

Keep in mind, that Geithner ran Lehman through 3 “stress tests” prior to bankruptcy; all of which Lehman failed, and yet, nothing was done. Anton R. Valukas–the examiner who wrote the 2,200 page investigative-report which was released on Thursday– has provided plenty of information detailing Lehman’s “materially misleading” accounting and “actionable balance sheet manipulation.”

In other words, they cooked the books.

How U.S. states cook their books

(TheComingDepression) – Here’s a trick used by bankers, states trying to add debt without getting voter approval and companies like Enron or Worldcom — and we know how that worked out (they both went bankrupt and their executives charged with fraud). This from the New York State Comptroller (hat tip to our of our viewers): Read More Here

Bombshell: Goldman Sachs Helped Greece Cover Up Its Huge Debt

NYT is out with a major story by Louise Story, Landon Thomas and Nelson D. Schwartz on how Goldman Sachs, Morgan Stanley and other investment banks have helped Greece hide the extent of its debt:

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

Video: James Delingpole on Alex Jones Tv – After Climategate, Pachaurigate and Glaciergate!

Alex welcomes back to the show British journalist and novelist James Delingpole. Mr. Delingpole is the author of How to be Right: The Essential Guide to Making Lefty Liberals History, and Welcome to Obamaland: I Have Seen Your Future and It Doesn’t Work. He writes for The Times, Daily Telegraph, and as a TV critic for The Spectator. Delingpole regularly posts blogs on The Daily Telegraph website and his personal website. He is a vocal critic of climate change.

Video: US Senate: Banksters the new Enron; manipulating markets to add trillions to consumer prices

(Examiner) – “Ironically, hedge funds trading oil are not doing anything very different than the large investment banks such as Goldman Sachs, Bank of America, or Morgan Stanley already do. The proprietary trading desks of these and other large investment banks are actually ‘hedge funds in drag,’ just as Enron was.” — Peter C. Fusaro and Gary M. Vasey, Hedge Funds Change Energy Trading

Big Pharma Bribes Doctors to Hook Your Kids on Drugs

(AlterNet) – Americans must start to question the legitimacy of the exploitative pharmaceutical-industrial complex and the predatory people atop them.

IMF & World Bank Destroying Countries

The World Bank – IMF is owned and controlled by NM Rothschild and 30 to 40 of the wealthiest people in the world. For over 150 years they have planned to take the world over through money.

Commentary: Prosecute sins of Bush-Cheney era – Jack Cafferty

(CNN) – The Bush presidency is thankfully over…but the damage he and Dick Cheney did continues to press on the nerve of the American people like an impacted wisdom tooth. And until the questions surrounding arguably the most arrogant and perhaps most corrupt administration in our history are addressed, the pain won’t go away.

Banks Are the Largest Abusers of Offshore Tax Havens

Enron was lambasted for using offshore tax havens and complicated corporate structures to avoid paying taxes.

But the big banks are worse.

Geithner Update: Bend Over and Say, “Uncle Sam”

Timothy Geithner refuses to take underwater banks into receivership and resolve them, but has no problem transforming the FDIC into a hedge fund. Go figure? Here’s what everyone needs to know: The US government (you) will provide up to 94 percent of the financing (low interest, of course) for dodgy mortgage-backed assets that no one in their right mind would ever buy so that wealthy and politically-connected banksters can scrub up to $1 trillion of red ink from their balance sheets. Ugh!

Naomi Klein: Public Revolt Builds Against Rip-off Rescue Plans for the Economy

Governments that respond to a crisis created by free-market ideology with the same bad ideas will not survive to tell the tale.

MSM: Naomi Klein Throws Another Touchdown: “All Of Them Must Go”

By Naomi Klein – February 5th, 2009

Watching the crowds in Iceland banging pots and pans until their government fell reminded me of a chant popular in anti-capitalist circles in 2002: “You are Enron. We are Argentina.”

Its message was simple enough. You–politicians and CEOs huddled at some trade summit–are like the reckless scamming execs at Enron (of course, we didn’t know the half of it). We–the rabble outside–are like the people of Argentina, who, in the midst of an economic crisis eerily similar to our own, took to the street banging pots and

Follow The Money! Again Please..

The following New York Times article shines light on government investment with a focus on Bond derivative transactions within local government.

I have brought forward many a times that: “ENRON promoted their profit and hid their debt and Government does the exact opposite, they promote their debt and hide their profit.”

Worse than the Great Depression

The mainstream media and Wall Street have reached the consensus that the current credit crisis is the worst since the post-war period. George Soros’ statement that ”the world faces the worst finance crisis since WWII” epitomizes the collective wisdom. The crisis is currently the ultimate scapegoat for all the economic evils that currently plague the global financial system and the global economy – from collapsing stock markets of the world to food shortages in third world countries. We are repeatedly assured that the ultimate fault lies with the Credit Crisis itself; if there were no Credit Crisis, all of these terrible things would never have happened in the economy and the financial markets.

Why Gold Is Dropping When It Should Be Rising

Why is gold dropping right now when anyone in their sane mind would expect it to rise? The simple answer to this question is, “because Comex-gold isn’t gold” – and because it deceptively pretends to be ‘the’ price-setter for real gold.

Gold is gold, paper is paper, and “Comex gold” is nothing but paper masquerading as gold while simultaneously pretending to be the price-setting medium for actual gold in the world. Now, finally, Comex-gold is in the process of being unmasked.

The real supply and demand determinants for Comex gold are not actual gold investors but fund managers . Fund managers are inextricably intertwined with the world of contract-based credit instruments. They use bet on Comex gold contracts to hedge their other (currently horrendously losing) bets with something they all, in their in-bred belief in paper markets, believe will ‘go up’ in value while everything else is going down.

Rescue for the Few, Debt Slavery for the Many

We are now entering the financial End Time. Bailout “Plan A” (buy the junk mortgages) has failed, “Plan B” (buy ersatz stocks in the banks to recapitalize them without wiping out current mismanagers) is fizzling, and the debts still can’t be paid. That is the reality Wall Street avoids confronting. “First they ignore you, then they denounce you, and then they say that they knew what you were saying all the time,” said Gandhi. The same might be said of today’s overhang of debts in excess of the economy’s ability to pay. First the policy makers pretend that they can be paid, then they denounce the pessimists as spreading panic, and then they say that of course students have been taught for four thousand years now how the “magic of compound interest” keeps on doubling and redoubling debts faster than the economy can squeeze out an economic surplus to pay.

US Economy: Rudderless and Reeling From Direct Hits – Paul Craig Roberts

We were promised a “New Economy” of high-tech tradable services to take the place of the offshore manufacturing economy. Wondering what had become of the “New Economy,” Duke University’s Offshoring Research Network searched for it and located it offshore. Yes, the activities of the “New Economy” are also outsourced offshore.

Call centers, IT operations, back-office operations, and manufacturing have long been moved offshore. Now high-value-added proprietary activities such as research and development, engineering, product development, and analytical services are being sent offshore. All that’s left is finance, and it is crumbling before our eyes.