-Caveat Lector-
We have seen the IMF/World Bank debt scam work
in country after country. Now we are seeing the investment bankers using the
same M.O. on companies in the U.S. But it's really no different because the same
people are behind both.
JR
----- Original Message -----
Sent: Wednesday, September 18, 2002 8:30
PM
Subject: [CTRL] Rappoport On Jack Welch
and Pepper Spray On MNF
-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.
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major and minor effects spread throughout the spectrum of time and thought.
That being said, CTRLgives no endorsement to the validity of posts, and
always suggests to readers; be wary of what you read. CTRL gives no
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Let us please be civil and as always, Caveat Lector.
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