From: "Linda Minor" <[EMAIL PROTECTED]> Also keep in mind that Drexel, Burnham, Lambert began as an arm of the Morgan bank, and that Morgan began as an agent of the Rothschilds. In my opinion, Rothschilds got various members of its network together from different parts of the country and used Milken as the middleman to loot the American S&L's--probably to weaken the U.S. government. Or maybe just to collapse the real estate market, which it definitely did, to allow the Rothschild-financed investment trusts to descend on office buildings, hotels, shopping centers, apartments, etc. Look at what makes up Carlyle's and JMB's portfolios. What did they do? They bought as limited partnership organized in U.S., then went public and sold as securities. They do no management at all themselves, but contract with related businesses in the traditional masonic style. The way the scheme works is that the banker at the top recruits two men who want the chance to get rich. They set up entities in their locality, using attorneys recommended to them. Then they're directed to a specific piece of property that's probably been sitting idly, on the outskirts of town waiting for the development to reach it. In the case I'm most familiar with, there was some land owned by an entity controlled by an attorney representing the Bass brothers of Dallas/Ft. Worth. The trust contracted to sell to General Homes, a Delaware corp. based in Houston, but whose founders had been developers in the Phoenix area, and whose stock was partly owned by banks in Florida. Also there was some trading of stock between the Bronfman company Cadillac Fairview and companies in wh ich Marvin Warner had an interest. So General Homes bought the land, then ran into a problem with drainage. So they contracted with an ex-son-in-law of one of George Bush's big contributors, Walter Mischer, whom Pete Brewton built a strong case against as long-time CIA operative. This guy, Robert Corson, now dead--whom one of his assistants accused of transporting drugs and weapons from Texas to points south of the border--contracted to buy the property as "trustee," by paying no cash but only a first lien back to General Homes. The condition was that he had to get the drainage work done on the property within a specified time, or GH would have the right to forceclose. That's when Corson bribed the county judge. He figured a $100,000 payoff to the judge who agreed to build a county road in the middle of nowhere, that required hundreds of thousands of dollars of drainage work, was cheaper than paying for the work. Then somehow, a third person was sent to Corson, who agreed to buy the property from him after the work was finished. It would be broken into several tracts with frontage on the new road, and each tract purchased by a shell corporation set up a few days before the actual closing of the sale. These sham companies would then get loans from savings and loans based on the now-inflated value. One of these S&L's was purchased by Corson and approved almost simultaneously with the sale to the shells. Another was Hill Financial in Pennsylvania, which was connected to Nationwide of Denver, if memory serves. These sham loans "wrapped" the first lien, and not a single installment was ever paid. What Brewton learned from his investigation was that the 3rd man in the chain, Mike Adkinson, had come to Texas from Florida several years earlier. He had also been involved in a transaction involving one of Houston's oldest shopping centers, which was owned by a banking family named Meyer. One of the owners was married to a man named Hess, whose oil company had merged years before with Amerada--10% of which was owned by the British government. Adkinson was also giving presentations at the time the shopping center's value became so inflated, stating his intent to construct elaborate structures on the property. With regard to the Corson tracts, his plan was to cut Corson and his assistant in on some land in Florida which was owned by St. Joe Paper Co., which was owned by the DuPont charitable trust. They would do a swap of the Houston land for the Florida land to pay Corson off on his share. Then the other financing was to be these huge 2nd liens to connected institutions, insured by FSLIC. Brewton found out that the lawyer who handled the Florida end of the transaction was Lawrence Freeman, who had ties to Paul Helliwell. The millions of dollars in proceeds received from the loans from the S&Ls went to a secret account in the Isle of Jersey. Then after Corson defaulted to GH, the corporation foreclosed on the land at about the same time the entire house of cards collapsed around it. General Homes filed bankruptcy, and the land title passed to a corporation set up to act as receiver for the bankruptcy creditors. Eventually it was sold to new entities which were set up by new shills, I expect acting on behalf of the same shareholders as before. This is pretty much the way the Milken system worked, except they were buying and selling manufacturing corporations, etc. instead of land. And nobody knows where all the money went after it left those numbered overseas accounts. Anybody want to make a guess? Linda Minor -----Original Message----- From: Catherine Austin Fitts <[EMAIL PROTECTED]> To: [EMAIL PROTECTED] <[EMAIL PROTECTED]> Date: Thursday, March 02, 2000 3:11 PM Subject: RE: [CIA-DRUGS] HOW MONEY LAUNDRIES WORK >From: "Catherine Austin Fitts" <[EMAIL PROTECTED]> > >A couple of notes on money laundering. > >The logical way to do these operations....Mizel in Denver, Lindner in Ohio >is that they have multiple vehicles...they will be organized as >"comptrollers" and money managers...so they would never limit themselves to >casinos, or mortgage banks, or retail..they would deal with some to all of >them. I am re-reading Predators Ball and am being reminded that much of this >was the network that Milken group. It appears that a lot of the hot cash was >flowing in from Iran Contra and Bush's permission to do financial fraud on >scale. Mizel in Denver in 1985 was put in charge of the Congressional >lobbying effort to protect Milken when he started to finance the big >takeovers at that point in time. I will post more on that when I am done. > >We are compiling a record of all the loan sales. I just realized that the >plan to do $927MM of single family asset management contracts and churn the >defaulted mortgages back through retail property sales washed through HUD >got going after the "investigation" started in 1996. Before then the plan >was to do a securitization of 33,000 remaining loans in inventory if the >trust done in June 1996 worked...which it did...it was a resounding success. > >That meant in June 1996, a network of mortgage banking operations that were >doing money laundering for covert ops with the protection and/or blessing of >DOJ would have been staring at one group of institutional investors and on >servicers seeing all the files on their game, after the market saw the >worlds finest on line database on the whole portfolio through the internet >and Bloomberg. > >Given DOJ's powerful hunger for cash in 1996-1998 , this would have been >like staring into the Abyss. I wonder if DOJ's confidential settlement with >Mizel and Brownstein had anything to do with all of this. > >-----Original Message----- >From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] >Sent: Wednesday, March 01, 2000 1:49 PM >To: [EMAIL PROTECTED] >Subject: Re: [CIA-DRUGS] HOW MONEY LAUNDRIES WORK > >From: [EMAIL PROTECTED] > >Cat you're correct again. The mob has been involved from the beginning. The >racketeers on the East Coast couldn't move "black" money fast enough (that's >one reason Bugsy Segal was able to get bankrolled to start Vegas). They own >all of the boats here in Bayou Country (directly, or indirectly through >straw >corporations). > >It's a well-known fact among lawyers here that Louisiana's infamous, if >colorful, multiple-term governor, Edwin Edwards, ushered in legalized >gambling in 1992, during his last term. The state constitution bans >"gambling", so he got the legislature to dub it "gaming", and, of course, >the >state supreme court (which was in Ed's back pocket at the time) placed its >imprimatur on that subtle semantic adjustment. > >Ed's only vices (he openly brags about this) are women, and gambling. A >couple of years ago, when he was 65, Ed married a local gal who was 29. >Anyhow, he owed the mob so much money from his failures in Vegas, that after >they bought his last gubernatorial election, he paid them back by legalizing >gambling. That's when Eddie DeBartolo entered the scene. After Ed's last >term >was over, and the casinos were in business, DeBartolo offered him the job of >GM of the 49ers. Ed turned him down. > >Ed's Mafia ties go way back. In the late'70s, when he was serving the second >of two back-to-back terms as governor, he helped the Mafia's hazardous-waste >dumping companies turn several parishes (counties) into leukemia pits. In >1987, when I ran for the senate, someone (anonymously) mailed me a copy of >the New York Attorney General's official report on the Mafia's involvement >in >the waste dumping biz. In the center was a fold-out, charting the ownership. >At the top of the chart were companies whose names we would all recognize. >Then, through a series of straw corporations, at the bottom of the chart >were >the Genoveses, Gambinos, Gottis, Giancanas, Trafficantes, and Marcellos. > >But Ed is definitely the fall guy here. I just wonder whether or not he and >our dear-departed friend, Barry Seal, ever worked together. Some have >opined, >over the years, that Ed (a congressman at the time) helped Marcello arrange >the Kennedy assassination with the CIA. Whether that's true or not, it makes >for intriguing colloquy. By now, most of you know (from Daniel Hopsicker's >fine work), that Seal was involved in the JFK hit. > >Odom > >------------------------------------------------------------------------ >DON'T HATE YOUR RATE! >Get a NextCard Visa, in 30 seconds! Get rates as low as >0.0% Intro or 9.9% Fixed APR and no hidden fees. >Apply NOW! >http://click.egroups.com/1/2066/2/_/475667/_/951936539/ >------------------------------------------------------------------------ > > > > >------------------------------------------------------------------------ >DON'T HATE YOUR RATE! >Get a NextCard Visa, in 30 seconds! Get rates as low as >0.0% Intro or 9.9% Fixed APR and no hidden fees. >Apply NOW! >http://click.egroups.com/1/2120/2/_/475667/_/952031472/ >------------------------------------------------------------------------ > > ------------------------------------------------------------------------ GET A NEXTCARD VISA, in 30 seconds! Get rates as low as 0.0% Intro APR and no hidden fees. 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