On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan. The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential.
Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk.
A Secretive Banking Elite Rules Trading in Derivatives
WikiLeaks' advocates are wreaking 'hacktivism'
Since releasing a vast cache of diplomatic cables this month, the anti-secrecy group WikiLeaks has been the focus of intense criticism: for divulging classified materials, embarrassing the U.S. government and potentially endangering lives. But it has also engendered the frenzied support of an expanding and loosely defined global collective that seems intent on speaking out - and in some cases waging war on WikiLeaks' behalf.
The most prominent of those groups is known as Anonymous, which this past week sought to disable the Web sites of several U.S. companies as part of what it called Operation Payback.WikiLeaks has also drawn the support of traditional civil rights organizations and advocacy groups, which see the controversy surrounding WikiLeaks as an important test of U.S. commitment to freedom of the Internet.
Madoff's Devilish Female Partner in Crime
At first glance, Sonja Kohn, a short, stout, red wig-wearing 62-year-old grandmother and banker from Vienna, Austria hardly appears to be one of the greatest financial crooks ever, let alone the repeated recipient of a “big hug and a kiss” from her “criminal soul mate,” Bernie Madoff. Kohn, according to bankruptcy trustee Irving Picard, may be even worse than the now-jailed Madoff. He claims she and her family continue to steal with impunity and hide millions of dollars taken from Madoff victims, in spite of the ongoing U.S. criminal investigation.
a co-conspirator with Madoff for 23 years, Kohn allegedly raised more than $9.1 billion of the $19.6 billion in cash actually invested with—and lost by—the Ponzi king. That means, according to calculations by Picard, she raised 46 cents of every dollar Bernie stole.
Declassified CIA Files Detail Ties Between U.S. And Ex-Nazis
Declassified CIA files reveal that US intelligence officials went to great lengths to protect a Ukrainian fascist leader and suspected Nazi collaborator from prosecution after World War II and set him up in a New York office to wage covert war against the Soviet Union, according to a new report to Congress.
Mykola Lebed led an underground movement to undermine the Kremlin and conduct guerrilla operations for the CIA during the Cold War, said the report, prepared by two scholars under the supervision of the National Archives. It was given to Congress on Thursday and posted online.
During World War II, the report says, Lebed helped lead a Ukrainian nationalist organization that collaborated with the Nazis in the destruction of the Jews of the western Ukraine and also killed thousands of Poles. The report details postwar efforts by US intelligence officials to throw the federal government’s Nazi hunters off his trail and to ignore or obscure his past.
WikiLeaks: Here's an Ahmad Chalabi story you haven't heard
For Iraq-watchers, a tiny but enticing tidbit surfaced in a WikiLeaks cable from February 2004, 11 months after the U.S.-led invasion. It involved Ahmad Chalabi, the brilliant, controversial and always fascinating Iraqi politician best known for helping to convince the Bush administration that Saddam Hussein had weapons of mass destruction.
The secret cable from the U.S. Embassy in Amman describes a meeting in which Jordanian Foreign Minister Marwan Muasher accused Chalabi, then the chairman of the finance committee in the provisional Iraqi Governing Council, of opposing closer ties between Iraqi and Jordan. Muasher "blamed Chalabi for spoiling deals negotiated by Jordan's Arab Bank and Export and Finance Bank with Iraq banks" and said he'd complain to Bush administration officials on an upcoming trip to Washington.
Why Are Wars Not Being Reported Honestly?
The public needs to know the truth about wars. So why have journalists colluded with governments to hoodwink us?
In the US Army manual on counterinsurgency, the American commander General David Petraeus describes Afghanistan as a "war of perception . . . conducted continuously using the news media". What really matters is not so much the day-to-day battles against the Taliban as the way the adventure is sold in America where "the media directly influence the attitude of key audiences". Reading this, I was reminded of the Venezuelan general who led a coup against the democratic government in 2002. "We had a secret weapon," he boasted. "We had the media, especially TV. You got to have the media."
Halliburton may pay $500 million to keep Cheney out of prison
Oilfield services company Halliburton is in negotiations with the Nigerian government to keep its former CEO, Dick Cheney, out of prison, according to a news report.
Nigeria filed charges against Cheney this week in an investigation of alleged bribery estimated at $180 million. Prosecutors named both Halliburton and KBR in the charges, as well as three European oil and engineering companies -- Technip SA, EniSpa, and Saipem Construction.
WikiLeaks cables: Vatican refused to engage with child sex abuse inquiry
Leaked cable lays bare how Irish government was forced to grant Vatican officials immunity from testifying to Murphy commission. The Vatican refused to allow its officials to testify before an Irish commission investigating the clerical abuse of children and was angered when they were summoned from Rome, US embassy cables released by WikiLeaks reveal.
Requests for information from the 2009 Murphy commission into sexual and physical abuse by clergy "offended many in the Vatican" who felt that the Irish government had "failed to respect and protect Vatican sovereignty during the investigations", a cable says.
Hitchens Blasts Tea Party: 'The Mad Ideas of Exploded Crackpots And Bigots'
It is often in the excuses and in the apologies that one finds the real offense. Looking back on the domestic political “surge” which the populist right has been celebrating since last month, I found myself most dispirited by the manner in which the more sophisticated conservatives attempted to conjure the nasty bits away.
Here, for example, was Ross Douthat, the voice of moderate conservatism on the New York Times op-ed page. He was replying to a number of critics who had pointed out that Glenn Beck, in his rallies and broadcasts, had been channeling the forgotten voice of the John Birch Society, megaphone of Strangelovian paranoia from the 1950s and 1960s. His soothing message:
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