| -Caveat Lector-
http://www.stratiawire.com/ WEDNESDAY, SEPTEMBER 18, 2002 CRAZY MONEY? SEPTEMBER 18. Neutron Jack Welch is now renouncing his retirement perks, the ones contained in his golden parachute. His former company, GE, is moving along without him, and hopes to avoid any spillover from Jack’s ongoing messy divorce. Makes me wonder whether Jack’s renunciation of millions from GE is somehow tied in with his desire to pay out much less to his wife. But that’s another story… Checking up a little on GE, I discovered, much to my amazement, that this mega-corp makes 40 PERCENT of its total earnings from one subsidiary, called GE Capital Corp. A financial services company. It buys up mortgages, among other activities. It produces no refrigerators or toasters or tanks. GE Capital has just been split into four pieces, supposedly for the purpose of making its earnings statements more transparent to the Wall Street pros, who are edgy about corporations’ financial reporting in the current Enron-WorldCom-Global Crossing situation. This is just a tip at the moment, but I smell something fishy here. Where exactly does GE Capital get its money from, the money it uses to buy up mortgages? And why has it been so successful versus other companies in the same line of work? I’ve been told that GE Capital is a veritable tiger on the mortgage-buying front. It just keeps on winning. Remember, Enron was really making a huge chunk of its earnings NOT from the sale of energy or energy infrastructure, but from the sale of energy futures. It was phasing over to the financial services and brokering areas. Ditto for GE. Whenever a huge corporation eases way off on actually producing THINGS and goes toward selling and buying commercial paper (e.g., mortgages) and futures and the like, it’s a signal to investigate. Let me put it this way: Suppose a huge international car builder told you it was no longer selling automobiles, it was now selling the RIGHT to buy, at some future time, these vehicles. And before that future date arrived, you could turn around and sell your purchased right to the car to someone else. Wouldn’t that make you a little edgy? You don’t buy a car or even a stake in the company, you SPECULATE by buying the right to buy. “We’re not really a builder anymore, we’re a bank—well, not a bank exactly—more like a commodity broker. We’ve found we make more money if we sell the right to buy something rather than the something itself.” Speaking of banks, here is a clue to another very crazy money game. For years, people have accepted reports that banks often make extremely stupid loans. For example, they lend billions to corporations that are already foundering and desperately need back-up cash. “Oh those banks. They never really investigate their borrowers’ financial statements. What morons.” I think not. This is sometimes an insiders’ insidious tactic. The bank expects and wants the corporate borrower to go further into red ink. The bank wants the company to fail, to head into bankruptcy. Why? Because the bank is really a front for much quieter and more powerful interests behind the scenes—and those interests want to buy up the failing corporation and take it over. That’s right. Consider this as an aspect in what has been happening to Enron, Global Crossing, WorldCom, Qwest, and others. Here is a nearly perfect analogy. IMF, a mega-bank, lends a country billions to pay off its prior debts to IMF. IMF KNOWS that country (e.g., Argentina) is going to go much further into the red. That’s the whole idea. Because, vultures are waiting in the wings, waiting to take over all the really important industries in that desperately wobbling nation. And when the nation is in a completely untenable situation, vis-à-vis its national debt, it will accede to any imposed IMF orders. Orders, for example, to sell off its prime utilities and industries to foreign investors. In the coming months and years, will we be able to see who is really re-structuring and taking over the Enrons? Don’t count on it. Several levels of fronts and cutouts can hide the real new owners. But, for example, keep your eye on a multi-billion-dollar outfit called the Carlyle Group. Bush the Elder is a shill, in Asia, for Carlyle, and a whole host of former US government biggies is on board. PEPPER ON MONDAY NIGHT FOOTBALL SEPTEMBER 18. Monday Night Football was suddenly interrupted when the whole Philadelphia Eagles team was led out on to the field by coach Andy Reid. Players were pawing at their eyes and covering their faces. The game stopped. The TV announcers were at a loss to explain what happened. They didn’t want to say the T word, but they finally did. Terrorism. They were careful to indicate that this wasn’t even a speculation on their part, but that, these days, the thought would occur to people. Today we are told it was just pepper spray. In the stands, quite a distance behind the Eagles bench, police were dealing with “a minor altercation,” and they were using the cayenne-based product. Air-cooling fans which were blowing air along the Eagles bench somehow carried the spray to the players. Hmm. The cooling fans I’m familiar with either blow air in from the ends of the bench or, placed in front of the bench, blow air back into the players and toward the stands. In neither case would such blown air cause pepper spray to whoosh out of the stands on to the field. MSNBC reports that one player suddenly vomited, and a TV camerawoman collapsed. I spoke with an employee at a large pepper-spray company. He said pepper spray is not known to cause vomiting or collapse. HOWEVER, he said, some formulations of spray combine pepper and mace. Mace could cause collapse or vomiting. Were the police using mace on the crowd Monday night? If so, that would seem to be quite an aggressive response to a minor fight in the stands. I called the Landover, MD, police to ask questions about their handling of the altercation in the stands. I was told the press person was in a meeting on this very subject. I’m still waiting for a call-back. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substancenot soap-boxingplease! These are sordid matters and 'conspiracy theory'with its many half-truths, mis- directions and outright fraudsis used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. 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