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woolf report on fabian/marxist lse

“The London School of Economics was guilty of multiple failures of governance and management in its links with the deposed Gaddafi regime, an inquiry has concluded.

“However, it seems likely that Saif al-Islam Gaddafi, the son of the late Libyan dictator Mu’ammer Gaddafi, will not be stripped of his PhD following plagiarism allegations.”

The full report.

Or how to get a thick socialist through a ‘degree’, or how to buy a socialist degree.
Shades of Gordon Brown the Clown.

The London School of Economics [LSE] was set up by Fabians.
Fabians are at the core of fascist ‘New’ Labour.
Fabians believe in socialism/communism by stealth.

related material
socialist religions

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euro zone: too big to fail?

“PARIS - For the growing chorus of observers who fear that a breakup of the euro zone might be at hand, Chancellor Angela Merkel of Germany has a pointed rebuke: It's never going to happen.

“But banks in big euro zone countries that have only recently been infected by the crisis do not seem to be nearly as flustered.

“Banks in France and Italy in particular are not creating backup plans, bankers say, for the simple reason that they have concluded it is impossible for the euro to break up. Although banks like BNP Paribas, Société Générale, UniCredit and others recently dumped tens of billions of euros worth of European sovereign debt, the thinking is that there is little reason to do more.”

This is nonsense. Dumping sovereign euro debt is creating back-up plans, as is curtailing lending, and as is Basel 3.

“While in the United States there is clearly a view that Europe can break up, here, we believe Europe must remain as it is," said one French banker, summing up the thinking at French banks. "So no one is saying, 'We need a fallback,' " said the banker, who was not authorized to speak publicly. saying much else in euroland is at the very least 'difficult'.”

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Daniel Hannan

“The reason, of course, is that people in both countries see politicians lining up with the Brussels elites against their own constituents. The few national leaders who dare challenge the EU risk being overthrown.

“George Papandreou did something unforgiveable in the eyes of Brussels when he proposed a referendum on the loans-for-austerity package. Eurocrats dislike and distrust popular democracy. Referendums at any time are frowned on; but a referendum when the euro was teetering on the edge was seen as the height of selfishness and ingratitude. Within a week, Papandreou had been forced out.

“A similar thing happened in Italy. Observing the EU's reaction to the Greek crisis, Silvio Berlusconi calculated that Eurocrats would do anything to prevent the break-up of the euro: if his austerity measures were insufficient, Brussels would come up with the extra cash. Accordingly, he let it be known that he was relaxed about whether or not Italy should remain in the euro. If the Brussels elites wanted to preserve their continental currency, he implied, they would have to pay for it. "Since the euro was adopted", he breezily told his countrymen, "most Italians have become poorer." Once those words were spoken, he, too, was doomed. An EU official at the Cannes summit was quoted as saying: "We're on our way to moving out Berlusconi." Five days later, il Cavaliere had been forced to announce his resignation.

“The funny thing is that neither of the ousted premiers was a eurosceptic. Papandreou, indeed, was a federalist. Their crime, rather, was to pay too much attention to their electorates. Leninists had a term for people who, while committed Bolsheviks, none the less behaved in a way which endangered the movement. They were known as "objectively counter-revolutionary". The supreme counter-revolutionary act, in the EU, is to ask voters what they want.”

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iranian nutters peeved to be shut out of london money markets

“Iran erupted in a fresh frenzy of animosity towards its old imperial foe on Sunday as MPs chanting "death to England" voted to expel Britain's ambassador to Tehran and threatened his mission with a reprise of the 1979 hostage crisis.”

“ "The British government should know that if they insist on their evil stances, the Iranian people will punch them in the month, exactly as happened against America's den of spies," said Mehdi Kuchakzadeh.”

“Britain was singled out, however, after it became the first state to impose direct sanctions on Iran's central bank. Financial institutions in the City were also banned from doing business with their Iranian counterparts.”

“It is the first time in the UK's postwar history that Britain has imposed a total boycott on the entire banking industry of a foreign state.”

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“Iran will target elements of NATO missile defense network in Turkey if attacked, Iran’s Mehr News agency said citing a senior military commander.” [Quoted from en.ria.ru]

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“Iranian Defense Minister General Ahmad Vahidi said Israel would be attacked with 150,000 missiles if it launches any military action against the Islamic Republic” [Quoted from ynetnews.com]

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gop candidates: gingrich moves to front runner

“Until very recently, Gingrich was polling in the low single-digits. His candidacy sputtered early last summer when about a dozen campaign staffers walked out and the campaign fell into debt.”

“Strong debate performances may be a factor in Gingrich’s newfound support, as Republican-leaning voters seem more interested in the candidates’ positions on the issues than in their ability to defeat Obama.”

The latest polls put Mitt Romney ahead of Obama.

Any Republican versus Obama is predicted as a virtual dead heat.

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two years jail for truth telling by order of the eussr

“EU bans claim that water can prevent dehydration”

“Producers of bottled water are now forbidden by law from making the claim and will face a two-year jail sentence if they defy the edict, which comes into force in the UK next month.”

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socialism - uk government ‘teacher’ unions want to strike for more money

According to Michael Lewis in Boomerang, p. 45:

The lowest ranked schools in Europe are in Greece.
The highest ranked schools are in Finland.

Greece ‘employs’ four times as many teachers in their teacher-pupil ratio as Finland.

Greek parents assume they will need to employ tutors.

Boomerang: the meltdown tour
by Michael Lewis

£11.23 [amazon.co.uk] {advert}

Allen Lane, hbk, 2011
ISBN-10: 1846144841
ISBN-13: 978-1846144844

Kindle edition, B005PR44XC, 346 kb
£9.99 [amazon.co.uk] {advert}
$21.18 [amazon.com] {advert}

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bringing in the arsonists to put out the euro fire

“But the bitter irony of entrusting the salvation of Greece and Italy to the very men who created this disaster in the first place should not be lost on any of us.

“The new Greek PM is Lucas Papademos, a former European Central Bank vice president, who as the governor of Greece's central bank, oversaw the country's ill-starred and duplicitous entry to the euro in the first place.

“Italy is now in the hands of 'Super Mario' - Mario Monti, a former EU competition commissioner and another good European, who can be counted upon to continue the destruction testing of the eurozone by keeping Italy inside the tent.

“It is like the owner of a burning building turning to the arsonist to put out the flames.”

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21 countries, 44% of global trade, 40% of world population - the usa looks east

A counter to the EUSSR.

“...looking to protect the region from growing economic difficulties in the eurozone bloc”

“ The TPP[Trans-Pacific Partnership] currently includes Chile, New Zealand, Brunei and Singapore - all relatively small economies.

“The US, Australia, Malaysia, Vietnam and Peru are negotiating to join.

“And Japan, the world's third largest economy, has now said it also wants to join the discussions.”

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ever growing pressure on socialist regime in syria - bush freedom policy continues to play out in the middle east

“China and Russia are calling for an end to violence in Syria after an Arab League-brokered peace accord failed to stop troops from killing protesters. They still oppose sanctions against President Bashar al-Assad.” [Quoted from bloomberg.com]

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“ '15,000 strong' army gathers to take on Syria
“An insurgent army which claims to be up to 15,000 strong is being coordinated from Turkey to take on President Bashar al-Assad of Syria, which risks plunging the region into open warfare.”

“ [Rebel leader] Col Assad appealed to the international community to impose a 'no fly
zone' and a 'no sea zone'.” [Quoted from telegraph.co.uk]

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on murdoch questioning by parliamentary committee

Context: James Murdoch, CEO of the huge media organisation News Corp. International, has been answering questions for a second time regarding his degree of knowledge of the telephone hacking, police bribery and other activities of some of News Corp.’s employees.

It is very likely that Jimmy Murdoch knew nothing and that the managers were just waltzing rings around him.

That sort of thing just happens in a company run by managers without close constant supervision.

Little step by little step, as they get away with it.

The Murdoch empire is flowing with milk and honey, and there are plenty of bees looking to suck on it. The old man, Rupert, is close to senile. The kids probably don’t listen to him and don’t care as long as their checking accounts are full to overflowing.

Look at the way the MPs milked their expenses.

The world is not the simplistic world of the infants’ playground imagined by many inexperienced observers who have never been near serious power or responsibility. The likes of Tom Watson heading the so-called enquiry has never had real responsibility in his life. He works off his feelings of inferiority with playground insults, revelling in his small part on stage, and meanwhile playing on the envy and emotions of the uneducated.

The great majority of the human race are either corrupt or easily corrupted. Old man Murdoch is a business genius, but as the empire grows, more and more is delegated.

The accounts are done by outside companies who are far from incorrupt themselves. They grow big by pleasing their corporate clients, not by stirring up trouble or boat-rocking.

Rupert Murdoch knows he will be pushing up daisies soon. He has a delightful wife. He knows others, including the kids, will soon take over.

Giving the kids good advice is the best you can do, and the kids mostly won’t pay the slightest attention. The kids want to ‘do it their way’. They have all manner of wondrous vanities. They call them ‘ideas’. Dad’s a nice old buffer who musta ‘got lucky’, but it’s them who know better. They’ll show the world!
After all, they are ‘modern’.

Those Rupert, and then James, placed in charge are more interested in their own up-scale pad, vanity cars and trophy wives. The company becomes a cow to be milked, not a responsibility. Further, the managers usually lack real imagination, let alone a sense of responsibility.

This is the way the real world is. Forget Missis Webb in your infant’s class.

“Zeck again, on being told brashly by Archie, “I don’t like you”:
“…No one likes me. No one likes the authority of a superior intellect…”
[from Nero Wolfe]

That often includes the kids!

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other people’s money - moral hazard

“Michael Lewis points out that public listings transferred all the risks from management partners to the firm’s shareholders who had no idea what risks were being taken. Now we have huge financial combines with managements incentivised to bet the shareholders capital big, win and get out with their annual bonus. If they lose, the shareholders lose, or if they lose really big the taxpayer eventually bails them out because they have retail banking High Street subsidiaries which democratic governments are terrified will be dragged under as well. Capitalism with the risk being taken with Other People’s Money has the same fundamental problem associated with socialist governments spending Other People’s Money. Why worry if it isn’t your money?”

From Guido’s review of The big short, M. Lewis, 2010

This problem of managers having very different interests than ‘owners’ or shareholders was a major cause of incompetence in large industries in the 1980s. The imbalance led to the rise of corporate raiders buying up badly managed companies and cleaning out the bloated self-involved management.

Here is one of the books that came out of that chaos, Boone by T. Boone Pickens.

The Big Short: Inside the Doomsday Machine
by Michael Lewis
Big shot by Michael Lewis

$8.69 [amazon.com] {advert}
Penguin Books, pbk, 2011
ISBN-10: 0141043539
ISBN-13: 978-0141043531

US Kindle edition, 0393338827
$9.94 [amazon.com] {advert}

Big shot by Michael Lewis
Boone by T. Boone Pickens
Boone by T. Boone Pickens

Houghton Mifflin, 1988, pbk
ISBN-10: 0395478111
ISBN-13: 978-0395478110


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more fantasy banking - 29 alleged credit-anstalts

We are pleased that no two banks will go down at the same time and that the sovereign debt leaves no danger of a national default, let alone a couple of smaller banks.

“Among the several commitments that came out of the recent G20 summit held in Cannes, the Financial Stability Board (FSB) has released a list of 29 systemically important banks (G-SIFIs) that will have to raise their core tier 1 capital ratios above Basel III mandates. The list includes eight U.S. banks and seventeen European banks, along with three Japanese institutions and one from China.”

The list of twenty-nine banks is:

USA UK France
Bank of America Royal Bank of Scotland Credit Agricole
Bank of New York Mellon HSBC Societe Generale
Morgan Stanley Lloyds BNP Paribas
State Street Barclays Banque Populaire
Wells Fargo    
Goldman Sachs Germany Italy
JP Morgan Chase Deutsche Bank UniCredit
Citigroup Commerzbank  
Switzerland Belgium Netherlands
Credit Suisse    
Japan Spain Sweden
Mitsubishi UFJ Santander Nordea
Mizuho Financial Group    
Sumitomo Mitsui Banking Corp   China
    Bank of China
An Austrian bank that declared bankruptcy on 11 May 1931. This is the bank that set off the banking collapse that changed a bad turn-down into the Great Depression. Credit-Anstalt is now subsumed under Deutsche Bank! By even more far-fetched imaginings, it could be claimed to be part of Italy’s UniCredit Bank.

It is wise to think of major banks as slippery eels, or perhaps chameleons, changing names and appearances regularly, as politics and advertising advantages suggest.

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cuban communist revisionist traitors become capitalist roader running dogs

“Cuba has approved a law allowing individuals to buy and sell homes for the first time since the early days of the revolution, official media say.

“The law, which takes effect on 10 November, applies to citizens and permanent residents only.

“Correspondents say this is the most important reform so far in a series of free-market changes introduced by President Raul Castro.

“A housing shortage has meant that many Cubans live in overcrowded apartments.”

Now having title, the poor can borrow and start to lift themselves out of poverty.

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it’s a tragedy - the greeks are being asked what they want to do

What if they get the answer wrong?

You can’t have democracy getting in the way of the commissariat.

This is too urgent, we don’t have time to make them keep voting until they get it right.

Democracy is at the heart of our problems say the EUSSR. We were just recovering from the mess generated by Athens two and a half millennia ago.

I thought Bliar and Brown the Clown had saved Europe and the world from this nonsense.

stop press
Demands for resignation of Greek PM - every honest man be shot - latest EUSSR edict.

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