date:20031027

[CTRL] Looters in the White House

2003-10-27 Thread Paul Meares

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http://www.unknownnews.net/031023a-llo.html
Looters in the White House
by Liberez L'Ours, Unknown News
Oct. 23, 2003

Is it a rat I smell? No. Worse ...

It is the aroma of the Bush Regime preparing to loot the USA as never before
... as never before even imagined!

Here's the deal: "Fannie Mae" (FNM, Federal National Mortgage Association) and
"Freddie Mac" (FRE, Federal Home Loan Mortgage Corporation) are
pseudo-government agencies that fund mortgages in a big way. They are actually
private companies but have the implicit backing of the US government and have
parlayed that implicit backing into outstanding debts of $1.5 trillion dollars.

Those debts are leveraged 50:1, by the way, meaning that Fannie Mae and Freddie
Mac have 2% collateral supporting their merry business.

This summer, accounting "scandals" rocked Freddie, and neither company is
required by law to make normal corporate disclosures to the Securities and
Exchange Commission (SEC) -- even though their stock trades on the New York
Stock Exchange! It gets even worse: they are regulated by the U.S. Department
of Housing and Urban Development (HUD)! Ho ho.

And ... their business has involved lending huge sums of money at the lowest
interest rates in 40 years, with derivative wagers used to offset the risk of
rising interest rates. But with 50:1 leverage, a tiny error would wipe out
their balance sheets. That is where the fun really begins.

You see, the U.S. dollar has been tanking, big time, thanks to the Bush Regime
treating the U.S. Treasury like its own piggy bank  or rather, behaving like a
military junta in a banana republic.

Right now people aren't freaking out about the U.S. dollar falling because
foreign countries still recycle their export earnings back into U.S. debts,
such as debts of Fannie Mae and Freddie Mac. You can tell the worry factor is
small because, though the dollar is falling, interest rates are stable.

If and when the disaster hits, the dollar will fall and the stock markets will
fall but interest rates will rise. And when that day happens, a mere 2% jump in
interest rates that Fannie and Freddie cannot hedge away will mean that they
are technically "broke."

Now, the government won't really want to allow Fannie and Freddie to stop
creating mortgages, but according to the latest news, Congress isn't
particularly interested in restructuring these casino-like corporations either.

>From the Bush Regime's perspective, it will be better to allow Fannie and
Freddie to fail momentarily, and then swoop in and seize the assets  which can
then be salvaged with money from the U.S. Treasury, and re-sold to FOB (Friends
of Bush) for pennies on the dollar.

Nice theory? Crazy? Well, that's basically what happened in the Savings and
Loan "crisis." Pennies on the dollar, baby. Hundreds of billions of dollars in
free profits to connected insiders (anyone who wants to see the correct
details, send an email...). Historians will recall the name of Neil Bush in the
S&L debacle.

Neil Bush served no jail time for that, either. He's still in business, but of
course he'll never be able to run for public office. Why? Because he is a
crook? No, because he got caught. (Heheh.)

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[CTRL] Too many Journalists parrot the establishment's spin on 9/11

2003-10-27 Thread Paul Meares

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http://usa.mediamonitors.net/content/view/full/1740/?PHPSESSID=aeb94088c1423cb3fc65af22c2efa4fd
Too many Journalists parrot the establishment's spin on 9/11
by Paul Donovan
(Friday, October 24, 2003)

The willingness of journalists to accepts the establishment's view of events
during and after 9/11 is truly staggering.

One of the major weaknesses of journalism today is how easily some are seduced
by power. The premier role of the journalist should be as a check on power;
however, many seem to turn this dictum on its head and seek greater job
satisfaction as parrots of the official truth.

Nowhere is this tendency more prevalent than amongst Parliamentary lobby
correspondents in Westminster. It has been the supine nature of many of these
individuals that has allowed the likes of Alastair Campbell and his cohorts to
become so powerful in spinning their version of events to the wider world.

There is much rubbish given our about "spin" when what it really amounts to is
putting an emphasis on a story that is favourable to a valued contact and
acceptable to the owner of the media organization concerned. The easiest
spinning comes, of course, when the interests of the source and the owner
coincide.

The ease with which journalists are seduced by the powerful was nicely
illustrated recently by Simon Hoggart in the Guardian. Hoggart went into some
detail as to why Dr. David Kelly could not have been murdered. Justifying the
depth of his analysis, he stated "I mention this only because the internet
mill, favoured by Michael Meacher in his researches into 9/11, will no doubt
grind out more conspiracy theories." Hoggart continued, confirming his touching
relationship with power, describing Lord Hutton's "soft, educated almost
beguiling Ulster accent." In these few words Hoggart proved himself to be
completely taken in by the establishment figure whilst dismissing anyone, like
Meacher, who might suggest the whole train of events that led to wars in Iraq
and Afghanistan had more than a touch of coincidence to them.

For those who inhabit a world outside of the Parliamentary lobby, the views
expressed by Meacher as to the way the whole 9/11 scenario and what followed so
easily fitted with the Bush administration's agenda is anything but
conspiratorial. In his piece Meacher quoted from sources across the media
including the Times, the Daily Telegraph, Newsweek, the BBC and Time magazine.
His crime for establishment journalists is in putting together the various
pieces of information to come up with a credible rationale for what has
happened over the past two years. The fact that the account seems so incredible
is reflective of how poorly others have done their jobs in terms of informing
the public.

Meacher is not the first to raise questions regarding the sequence of events
post-9/11. John Pilger and Noam Chomsky have consistently exposed the truth and
put the sequence of events of the past two years in context. Another is
American writer (and confidante of the late President John F. Kennedy), Gore
Vidal, who in the Observer last year suggested that George W. Bush will be
impeached for his handling of 9/11 and events thereafter. In his excellent
book, Dreaming War, Vidal continues to ask crucial questions that until
recently have been swept under the carpet. He quotes at some length from
retired U.S. army veteran Stan Goff, who taught military science and doctrine
at West Point.

Goff is astonished that people are not asking questions about the actions of
Bush and company on the day of the attacks. As some will remember, Bush went to
a school on that day to talk to the children. In the U.S. there is a standard
order of procedure that once a plane has deviated from its flight plan, fighter
planes are sent up to find out why.

"The planes are all hijacked between 7:45 and 8:10 a.m. Eastern Daylight Time.
Who is notified? This is an event already that is unprecedented. But the
president is not notified and [is] going to a Florida elementary school to hear
children read," says Goff. "By around 8:15 a.m. it should be very apparent that
something is terribly wrong. The President is glad-handing teachers. By 8:45
when American Airlines Flight 11 crashes into the World Trade Centre, Bush is
settling in with children for his photo ops at Booker Elementary. Four planes
have obviously been hijacked simultaneously, an event never before seen in
history, and one has just dived into the world's best-known twin towers, and
still no-one notifies the nominal Commander in Chief."

At 9:03 a.m. the second plane crashes into the World Trade Centre. Bush is told
but continues with his school visit. Some 25 minutes later Bush tells the
public what they know already; namely, that there has been an attack by
hijacked planes on the World Trade Centre. At this time, an airliner is heading
for Washington DC, but still no fighter planes have been scrambled.

At 9:35 one of the hijacked planes does a 360-degree turn over the Penta

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