"Government cannot prevent nature from taking its
- David Rosenberg, chief North American economist
funds are now targeting each other.
Morgan Stanley and Goldman
Sachs, who made obscene profits by shorting stocks in the past, are
vociferously against the practice now that their stocks are the ones being
destroyed." - Bruce Goodman
"Oil prices are largely not determined by supply
and demand but the trading desks of large Wall
Street firms." - Michael Masters, hedge fund manager
"Hedge fund riches helped inflate the price of
everything from modern art to Manhattan real estate. Top managers raked in
billions of dollars a year, and managing a
fund became the running
Wall Street." - Louise Story
hedge fund is a private
Hedge funds are not subject to
any direct regulation by the
SEC, the NASD, or any other federal
Hedge funds may hold long or
short assets, may enter into futures,
swaps, short selling
schemes, security investment
vehicles or other derivative
Some hedge funds focus on other
financial instruments including commodity
futures, options, and
emerging market debt.
focus on and may place funds in
anything that is touted as a "security."
A security may be simply
an electronic entry in a software system that
is fungible, ie. you can trade it for
an electronic entry in a
different software system.
As hedge funds typically use
leverage/gearing or debt to invest,
the positions they can take in the financial markets are larger than their
assets under management.
Only 17% of hedge fund managers viewed an
economic downturn as a bad
1998 During the
first phase of deregulation the financial industry had a near-meltdown
triggered by the collapse of the hedge fund
Long-Term Capital Management.
shareholders lost their
assets the creditors are paid off by the Federal Reserve.
The loss of $4
billion in five weeks were followed by a precipitous drop in stock
value across the board.
Sometimes touted as the 'tech bubble'
this wiped out much of the paper wealth of lower echelon corporate management,
members of the middle
class, in the form of 'under water'
'Under water' stock
options are granted at a price higher than the price the grantee can now sell
the stock for on the open market thus returning the wealth to controlling
assembled a consortium of banks to rescue Long-Term Capital Management, and it took 15
months, from September 1998 to January 2000, to negotiate their way out of
trades tied to more than $1 trillion in bets." - Richard Teitelbaum and Hugh
Management fails after raising $6 billion.
2003 Aman Capital
is set up by top derivatives traders at
trades in credit derivatives resulted in an estimated loss of hundreds of
millions of dollars. Dissolved June 2005.
Edward Lampert 'earns' $1.02
Coates Cromwell Fund leveraged trades chop 20% off of a $1.3-billion
portfolio in a matter of months.
Dissolved June 20, 2005.
Marin Capital a
California-based hedge fund attracted $1.7 billion in capital and put it to
work using credit arbitrage and convertible
arbitrage to make a large bet on General
General Motors' bonds downgraded to
junk, fund crushed.
Dissolved on June 16, 2005.
James Harris Simons 'earns' $1.6
T. Boone Pickens
'earns' $1.5 billion.
Griffin 'earns' $1.5 billion.
2006 Ospraie Management LLC closed a $250 million hedge
fund specializing in commodity trading.
The Ospraie Point Fund
lost 29% in five months. Losses from bad bets in commodities that fell sharply.
Dissolved June 08, 2006.
Edward Lampert 'earns' $1.3
Simons 'earns' $1.7 billion.
Amaranth Advisors, a hedge
fund manager, loses $6 billion in wrong-way bets on natural gas derivatives in
Amaranth Advisors net asset value declined by 65% to
Amaranth Advisors controlled 40% or more of natural gas
contracts in 2006 and in one month controlled 70%.
2007 Senate investigators conclude that Amaranth
Advisors trading actions drove up the price of natural gas for the entire
natural gas market.
Amaranth Advisors agreed to pay $717,000 to
settle SEC charges of violating securities
Bear Stearns hedge
fund Enhanced Leverage Fund and High-Grade Fund together borrows $20
billion to invest in sub-prime mortgage
Investors are told in July 2007 that their investment
of $1.5 billion is gone.
In a survey conducted by Rothstein Kass 61% of
hedge fund managers stated that a recission in America was very likely in 2008.
66% of hedge fund managers said that a recission would bring investment
George Soros 'earns' $1
Stephen A. Cohen
'earns' $900 million.
Kovner 'earns' $715 million.
Paul Tudor Jones II'earns' $690
Tim Barakett 'earns' $675 million.
David Tepper 'earns' $670
Carl Icahn 'earns'
Hedge fund manager John
Paulson makes $3 billion shorting financials in anticipation of the American
housing market collapse.
John Paulson is also believed to have made 311
million pounds ($428 million) from September to February by
short selling Lloyds
Banking Group Plc and HBOS Plc.
"Bernie was known for his
philanthropy, especially to Zionist,
Madoff was no Robin Hood, his philanthropic and charity contributions
facilitated access to the rich and
wealthy who served on the boards of the recipient institutions and proved that
he was 'one of them' a kind of super-rich 'intimate' of the same elite
The shock and
awe that followed Madoff's
confession that he was 'running a Ponzi scheme' drew as much anger for the
money lost and the fall from the moneyed class as for
the embarrassment of knowing
that the world's biggest exploiters and smartest
swindlers on Wall Street, were completely 'taken' by one of their own.
Madoff's swindle and
fraudulent behavior is not the result of personal
It is the product
of a systemic imperative and
the economic culture, which informs the highest circles of our class
The paper economy, hedge funds and all the
'sophisticated financial instruments' are all 'Ponzi schemes' they are
not based on producing and selling goods and services.
financial bets on future financial paper growth based on securing future buyers
to pay off earlier cash ins." - James Petras
fund managers hold their assets one year and one day magically converting
short term assets into long term assets. "Since 1960
each of the seven previous recoveries ended with a greater percentage of women
at work than when it began.
Working women now earn a third of America's
total household income, and by and large, only those homes with a working wife
have made real gains in their standard of living over the last eight years.
Yet, over that same period, the percentage of women employed outside
the home has fallen to where it was 12 years ago.
Meanwhile, the median
hourly pay of women 25 to 48 years of age has fallen from $15.04 in 2004 to
$14.84 last year.
This corrosive pattern holds true, according to the
federal statistics, for all American women, regardless of education, race,
ethnicity or marital or familial status." - Tim Rutten 07/08
working mothers work because their families cannot
survive without their paychecks.
Therefore, by definition, families in which the wife is not
required to work are families feeling a little less crushed by the new economy.
The high number of married women and mothers in the workforce is not
a feminist triumph; it is
merely the result of economic pressures that have reshaped the American family
since the 1980s.
I don't know any working mothers who wouldn't be
happier if their
husbands could support the family by themselves."- Renee Leask
real argument isn't that the top 1% pay 40% of federal income taxes, but how
they are taxed.
Wage earners can be taxed up to 35%.
Capital-gains earners generally can be taxed as high as 15%.
Under this formula, the individuals whose wealth works for them, by
accruing interest and wealth from stocks, are rewarded by the government for
being wealthy enough not to have to work.
The rest are penalized for
showing up to work." - Brain T. Finney
Intercontinental Exchange (ICE)
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This website defines a
new perspective with which to engage reality to which its author adheres. The
author feels that the falsification of reality outside personal experience has
forged a populace unable to discern
propaganda from reality and that this has been done purposefully by an
international corporate cartel through their agents who wish to foist a corrupt
version of reality on the human race. Religious intolerance occurs when any
group refuses to tolerate religious practices, religious beliefs or persons due
to their philosophical ideology. This web site marks the founding of a system
of philosophy named The Truth of the Way of the Lumière Infinie - a
rational gnostic mystery religion based on reason which requires no leap of
faith, accepts no tithes, has no supreme leader, no church buildings and in
which each and every individual is encouraged to develop a personal relation
with the Creator and Sustainer through the pursuit of the knowledge of reality
in the hope of curing the spiritual corruption that has enveloped the human
spirit. The tenets of The Truth of the Way of the Lumière Infinie are
spelled out in detail on this web site by the author. Violent acts against
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This web site in no way condones violence. To the contrary the
intent here is to reduce the violence that is already occurring due to the
international corporate cartels desire to control the human race. The
international corporate cartel already controls the world economic system,
corporate media worldwide, the global industrial military entertainment complex
and is responsible for the collapse of morals, the elevation of self-centered
behavior and the destruction of global ecosystems. Civilization is based on
coöperation. Coöperation does not occur at the point of a
American social mores and values have declined precipitously over
the last century as the corrupt international cartel has garnered more and more
power. This power rests in the ability to deceive the populace in general
through corporate media by pressing emotional buttons which have been
preprogrammed into the population through prior corporate media psychological
operations. The results have been the destruction of the family and the
destruction of social structures that do not adhere to the corrupt
international elites vision of a perfect world. Through distraction and
coercion the direction of thought of the bulk of the population has been
directed toward solutions proposed by the corrupt international elite that
further consolidates their power and which further their purposes.
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