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Discussion Forum : News and Current Events : Strong Delusions In This Generation

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pernvic
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Joined: 2007/10/23
Posts: 95


 Re: Strong Delusions In This Generation

It says private and login?

 2012/12/5 9:08Profile
rookie
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Joined: 2003/6/3
Posts: 4790


 Re:

Jimp wrote:

"hi, we all agree that these dillusions are those that others have."


In the process of time, as a believer, I continue to find that at one time or another, I too suffer from the delusions that Satan spins.



1Jo 2:8 Again, a new commandment I write to you, which thing is true in Him and in you, because the darkness is passing away, and the true light is already shining.


The darkness is passing away only because the light reveals what is not of God.



Hbr 5:14 But solid food belongs to those who are of full age, [that is], those who by reason of use have their senses exercised to discern both good and evil.


We believers can be tossed to and fro if our foundation is not built on the word of God. Full age does not come easily....


_________________
Jeff Marshalek

 2012/12/5 17:01Profile
rookie
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Joined: 2003/6/3
Posts: 4790


 Re:

This article reflects the same findings by the individual in the last video...

Bombshell: Deutsche Bank Hid $12 Billion In Losses To Avoid A Government Bail-Out
Submitted by Tyler Durden on 12/05/2012 16:58 -0500



Forget the perfectly anticipated Greek (selective) default. This is the real deal. The FT just released a blockbuster that Europe's most important and significant bank, Deutsche Bank, hid $12 billion in losses during the financial crisis, helping the bank avoid a government bail-out, according to three former bank employees who filed complaints to US regulators. US regulators, whose chief of enforcement currently was none other than the General Counsel of Deutsche Bank at the time!

From the FT:

The three complaints, made to regulators including the US Securities and Exchange Commission, claim that Deutsche misvalued a giant position in derivatives structures known as leveraged super senior trades, according to people familiar with the complaints.

All three allege that if Deutsche had accounted properly for its positions – worth $130bn on a notional level – its capital would have fallen to dangerous levels during the financial crisis and it might have required a government bail-out to survive.

Instead, they allege, the bank’s traders – with the knowledge of senior executives – avoided recording “mark-to-market”, or paper, losses during the unprecedented turmoil in credit markets in 2007-2009.

Two of the former employees allege that Deutsche mismarked the value of insurance provided in 2009 by Warren Buffett’s Berkshire Hathaway on some of the positions. The existence of these arrangements has not been previously disclosed.
Naturally, DB is defending itself in the only way it knows: "this is complicated stuff, and we know better than those guys." In other words, this is just a "tempest in a teapot." Where have we heard that before...

The bank said the investigation revealed that the allegations “stem from people without personal knowledge of, or responsibility for, key facts and information”. Deutsche promised “to continue to co-operate fully with the SEC’s investigation of this matter”.

The complaints were made at different times in 2010 and 2011 independently of each other. All of the men spent hours with SEC enforcement attorneys and provided internal bank documents during multiple meetings, people familiar with the matter say.
SEC enforcement attorneys eh? Because this is where it gets really fun: the person who was in charge of DB's legal compliance at the time was none other than Robert Khuzami. The same Robert Khuzami who just happens to be the chief of enforcement at the SEC!

Robert Khuzami, head of enforcement at the SEC, has recused himself from all Deutsche Bank investigations because he was Deutsche’s general counsel for the Americas from 2004 to 2009. Dick Walker, Deutsche’s general counsel, is a former head of enforcement at the SEC. The SEC declined to comment on the investigation.
Sadly, the "we are too sophisicated" defense may not be very effective this time.

Two of the former Deutsche employees have alleged they were pushed out of the bank as a result of reporting their concerns internally.
One of them, Eric Ben-Artzi, a risk manager at Deutsche, was fired three days after submitting a complaint to the SEC. In a separate complaint to the Department of Labor, he claims his dismissal was retaliation for his allegations.

Matthew Simpson, a senior trader at Deutsche, also left the company after submitting his own complaint to the SEC. Mr Simpson declined to comment. Deutsche Bank paid Mr Simpson $900,000 to settle his anti-retaliation lawsuit. Reuters reported in June 2011 that Mr Simpson had raised concerns about improper valuation of the derivatives portfolio.

The third complainant, who worked in risk management and has requested anonymity, raised his concerns to the SEC and voluntarily left the bank.
Or actually, since every bank in the world is forced to lie, cheat and mismark its own balance sheets every single day, not least of all the European Central Bank which as of moments ago has to accepted defaulted Greek bonds as collateral, this may just be completely ignored.

After all opening this particular Pandora's Box may well reveal that not only DB but the world's entire financial system is completely and totally insolvent.

* * *


In Short

The person who is now in charge of the SEC, (the organization responsible for maintaining the integrity of the investment community), is alleged to have counseled the German bank that it was alright to lie about billions in loss during the financial crisis.


_________________
Jeff Marshalek

 2012/12/7 6:44Profile
rookie
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Joined: 2003/6/3
Posts: 4790


 Re:

This video is only up for a short time. It reveals a beast that was once thought dead...
http://vimeo.com/user2695043/agenda


_________________
Jeff Marshalek

 2013/1/27 18:58Profile
rookie
Member



Joined: 2003/6/3
Posts: 4790


 Re:

The previous video describes a train of thought which places man as god. Likewise the next video describes the fruit of Darwinian theology.



http://www.youtube.com/watch?v=-eX5T68TQIo&feature=player_detailpage

As I search I have come to understand that this Science of Eugenics is not dead but thriving.


_________________
Jeff Marshalek

 2013/1/28 19:40Profile





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