WASHINGTON — The Commodity Futures Trading Commission said on Wednesday that JPMorgan Chase & Co will pay $20 million to settle charges that it unlawfully handled customer segregated funds at Lehman Brothers Holdings Inc.
The CFTC said that for about 22 months, ending with Lehman's bankruptcy in September 2008, JPMorgan had improperly extended intra-day credit to Lehman Brothers based in part on customers' segregated funds Lehman had deposited at the bank.
JPMorgan also violated rules by refusing to release customers' segregated funds for nearly two weeks after the bankruptcy, the CFTC said.
In a statement, JPMorgan said it "mistakenly factored the balance in the account into a daily calculation of (Lehman) assets to determine the amount of credit the firm was willing to extend to (Lehman)."
JPMorgan went on to say that "no customer funds were ever used to satisfy any (Lehman) debt to JPMorgan, nor were any funds in these accounts lost."
Lehman spokeswoman Kimberly Macleod declined to comment.
The action comes as the CFTC and other regulators continue to probe what happened to segregated customer funds in the October 2011 collapse of MF Global Holdings Ltd, a commodity trading firm that also did business with JPMorgan.
In fact, JP Morgan played an important role in MF Global's final hours, as the firm struggled to meet its trading commitments amid a growing customer unease over the brokerage's big bets on European sovereign debt.
When MF Global filed for bankruptcy in October, regulators said its customer accounts were short nearly $1.6 billion. Customer funds are legally required to be held separate from the firm's own cash.
The CFTC is under pressure to add safeguards to customer accounts as thousands of MF Global customers, including many farmers who use futures to hedge risks, try to recover their lost money.
An array of federal regulators are investigating the disappearance, and JPMorgan recently came under scrutiny from congressional investigators over a $175 million transfer that MF Global made to cover an overdraft at JPMorgan just days before the firm's collapse.
That money, congressional investigators said, appeared to come from an MF Global customer -segregated account.
JPMorgan asked MF Global to sign a letter certifying that transfer was proper, but MF Global never signed it. JPMorgan hasn't been accused of any wrongdoing in this case.
MF Global and its employees have also not been formally accused of wrongdoing.
Some of MF Global former clients who lost money in the firm's collapse have been angry at JPMorgan over its role in the firm's final days.
Speaking about the fine in the Lehman case, James Koutoulas, who represents many jilted former MF Global clients, said in an e-mail, "it's yet another data point in JPMorgan's systematic disregard for the law and for the safety of client assets."
JPMorgan said the latest settlement with regulators doesn't say it "intentionally violated the Commodity Exchange Act or CFTC regulations." JPMorgan has consistently denied acting inappropriately in the MF Global case.
The CFTC's order requires JPMorgan to implement reforms to ensure the proper handling of customer segregated funds in the future and to release customer funds upon notice and instruction from the CFTC.
JPMorgan had 2011 net income of $19 billion and recorded $4.9 billion in litigation expenses.
Copyright 2012 Thomson Reuters. Click for restrictions.
4/04/2012
JPMorgan to pay $20 million in Lehman collapse
Released Memo Shows US Official Disagreed with Bush Administration’s View on Torture
Goerge W Bush walks before speaking in defense of his war policy to an audience in December 2005. Photograph: Pablo Martinez Monsivais/AP
Released Memo Shows US Official Disagreed with Bush Administration’s View on Torture
Previously-unreleased document shows state department official thought techniques were ‘cruel’ and ‘degrading’ punishment
Associated Press Tuesday 3 April 2012
http://www.guardian.co.uk/world/2012/apr/04/george-bush-state-department-torture
A memo about harsh interrogation techniques shows that a former US state department official strongly dissented from the Bush administration’s secret legal view in 2005 that an international treaty against torture did not apply to CIA interrogations in foreign countries.
Until now, the February 2006 analysis by Philip Zelikow has been a high-level, classified internal critique of the Bush administration’s controversial interrogation policies.
At the time he wrote his criticism, Zelikow was secretary of state Condoleezza Rice’s representative on terrorism issues to the national security council’s deputies committee.
The state department released Zelikow’s memo Tuesday under the freedom of information act to the National Security Archive, a nonprofit advocacy group for openness in government.
In late 2005, Bush signed an amendment sponsored by John McCain that the Republican senator believed applied international standards of cruel and degrading treatment to US interrogation practices.
However, a May 2005 secret justice department interpretation of the law exempted CIA interrogation practices like waterboarding.
In his five-page memo, Zelikow wrote that the state department earlier had agreed with the justice department’s view. But “that situation has now changed” in light of McCain’s amendment, Zelikow wrote.
It “appears to us that several of these techniques, singly or in combination, should be considered ‘cruel, inhuman or degrading treatment or punishment’,” Zelikow stated.
“The techniques least likely to be sustained are the techniques described as ‘coercive’, especially viewed cumulatively, such as the waterboard, walling, dousing, stress positions and cramped confinement,” Zelikow’s analysis concluded.
In an interview Tuesday following the document’s release, Zelikow said: “I believe that the department of justice’s opinion was an extreme reading of the law and because the justice department opinion was secret, the only way the president could hear an alternative interpretation was for someone like me to offer it.
“It was bureaucratically and personally awkward for a state department official to challenge the department of justice on the interpretation of American constitutional law, but I had worked on constitutional law years earlier,” said Zelikow, a dean and professor at the University of Virginia.
Plan 2012
New blogsite Portal 2012, put out by Cobra, posts the following interpretation of the events of 2012. I’d compress the timeline. Some of the events here, such as the use of Ascension chambers, I might want to wait and see on. But the list itself is thought-provoking and contains many of the events it seems probable will occur this year, culminating in Ascension. Thanks to Dave Smith.
Plan 2012 : Another reliable source of events for this year which puts in context: all we have to look out for the signs of progress this year
Portal 2012, April 3, 2012, http://2012portal.blogspot.ca/2012/04/plan-2012-normal-0-microsoftinternetexp...
Plan 2012
LIBERATION OF PLANET EARTH
Phase 1: The Event (3-7 days)
Mass arrests of the Illuminati
‑Military sweep
-1 day viral and mass media info distribution
-1 day arrests
-Up to 3 days shutdown
-5 to 6 days conviction process
Phase 2: Restructuring (3-6 months)New financial system backed by precious metals and commodities introduced
-Federal Reserve dismantled, US Treasury prints gold backed money
-Basket of currencies (6 or more) base of world financial system
-Worldwide debt forgiveness
-Bank debts cancelled (credit cards, loans, mortgages)
-Banks must be re-licensed, no interest (usury)
-Multinational companies split and nationalized
Redistribution of world’s wealth begins
-Prosperity funds released
-Humanitarian and environmental projects funded
Free energy technology and advanced medicines released
Government UFO involvement disclosure
International criminal court tribunal of Illuminati
Statutory laws invalidated, return to Common Law
Interim national governments and then elections
UN restructured as head of Provisional government
Disengagement of warring parties, military forces recalled permanently from active duty and restructured into peace keeping force, nuclear weaponry disarmedPhase 3: First Contact (1-3 months)
Contact with selected private individuals
Re-education of humanity, including our history not told: Atlantis and Lemuria
Global telecasts over TV and internet
Increasing number of spacecraft make themselves known, culminating in a massive flyover when tens of thousands of ships will take part as final proof that other civilizations are out there
Two week contemplation period
First contact: Public contact at UN – Electric surge into Earth Light body -Galactic / Cosmic synchronization / Tachyonic alignment
After First Contact
-Interaction with Galactic Federation and Ascended Masters
-Start of technology transfers and educational programs
-Beginning of pollution cleansing and renewal of ecosystem
-Start of full consciousness training (Ascension chambers)
-Reunion with Confederation Fleet and Inner Earth
Preparing Us for Mass Arrests
Not only are the white hats in the Pentagon preparing us for the mass arrests through “Drake,” but the Company of Heaven are as well.
The Galactic Federation through Greg Giles tells us that “this process [of the changing of the guards] is nearing its completion stages as all systems are go and we are moments away from moving forward in this operation and taking into custody so many of those who have conspired against you.” (1)
SaLuSa reminds us:
“You wanted action, you wanted results, and you now have them if you follow certain people who have acquired a reputation for successfully discovering the truth. An enormous set up of hundreds of different personnel, are poised ready to apprehend the criminals who have been behind the most cynical and profitable crimes against you in recent times.” (2)
The GF through Greg reveals the scope of the operation.
“This operation will be vast, and it will reach far and deep into your societal structure as we remove deep-rooted corruption throughout your world. Please be patient as we move forward with our plans, and continue to spread this information to act as a precursor to what will be a major media event. This is our plan, and we expect it to go off without a hitch.” (3)
The galactics expect the operation to proceed perfectly and everyone on the list to be taken into custody.
“We, along with our Earth allies, have invested a great deal of time and effort in the planning stages of this operation and we plan on it moving forward to its completion perfectly according to its design. We have no intention of allowing any part of this operation to fail for any reason, and every name that is on our list for arrest and subsequent trial will be taken into custody when we want them to be, perfectly according to our schedule.
“This is how this operation will unfold and proceed to the letter, and we will not stop or slow our efforts until every name on the list is checked as they are removed from your society.”(4)
They tell us that the operation “will take days and possibly even weeks, but we tell you this is only due to the amount of arrests that will be made.” (5)
“There are limits to how fast we can proceed as resources will be thinned, as these arrests will be scattered all over your planet.” (6)
Once the arrests have been made the Dark Ages on this planet will be over, the GF says.
“You may have confidence that the dark and their days ruling over you and your world will be finished upon these arrests, and you may take solace in knowing they will never be allowed to transgress upon you or your society ever again. There will be no second life for them once they are taken into custody. They will not be permitted to reenter your society, and they will not be able to enter any society until they are fully rehabilitated.
“Your society will be free to grow and to prosper, and each of you of your world will enjoy a freedom that many of you have never known. You have this to look forward to, and we wish for this knowing to keep you going through this challenging period in your lives.” (7)
That day is dawning, they tell us.
“This day is now dawning on your horizon as final preparations are being made for these mass arrests. Please be patient while our Earth allies make final preparations for their roles in this operation. We are ready on our end, and we await the signal that the time has come to proceed.” (8)
The Pleiaidian High Council through Wes Annac cautions us that how peaceful and harmonious a process this will be depends on the impact of our thoughts on the collective consciousness.
“You are hearing continual updates about the takedown of those who would strip your freedoms away from you in a heartbeat if allowed, and the process of this coming forth is indeed as harmonious and peaceful as it has been predicted to transpire. You all hold the keys as to how peaceful this endeavor plays out and as to how little chaos is manifested through your thoughts and emotions upon seeing the beginning revelations come to fruition.” (9)
In the first place, Archangel Michael asks us not to take joy in the fall of the cabal.
“Joy is an expression of love, of endearment, of union and community. You can never take joy in another person’s, or a group’s, demise. …
“We ask for you not to join in any way, shape or form in judgment or relishing what is happening to another, for that cannot be of love. So yes, there is divine justice, and there is an absolute balancing that is taking place. And we want you to understand that, as it is taking place on Earth, upon your beloved Gaia, that those ripple effects are felt throughout the Universe, that that rebalancing is taking place far further than any of you can even imagine.
“But the key to that amplification effect is for you to hold love, is for you to hold peace. You do not stand as judge and jury, my friends. …
“No. That is not loving. That is not kind. That is not gentle. Retribution comes in the rebalancing. It comes in the brilliant light of a new dawn. It comes in you stepping forward and assuming your rightful place, as light-holders and showers of the way. It is its own reward.” (10)
SaLuSa reminds us that we don’t know the part a soul has chosen to play in the drama of life.
“Remember as we have informed you on a number of times, you do not know another soul’s life plan or why they have chosen their experiences. In the higher Spirit worlds souls are of a vibration that gives no energy to judgement or condemnation, they hold the love vibration and it is not in their way of thinking.” (11)
Rather let the fate of the dark ones be determined by the justice system, which has been well prepared to decide it and help them back to the Light.
“Think positively as you move through the last months of duality, and do not concern yourselves too much with the fate of the dark Ones. They will be treated with full justice and be given every opportunity to make amends, and every help to find a path back to the Light.” (12)
He reminds us that we have all played roles of light and dark and that hating those who play dark roles now will hold us back from progressing.
“As the cycle closes, remember that you have all played out lives on both sides of duality, and they are seen as necessary experiences to enable you to balance both energies. You may have succeeded now, but do not allow your achievement to cloud your mind against the dark Ones. Have compassion, and bear in mind that they are still sparks of the Light and Love, and can fully make their way back to the Light. In fact because they have dropped lower than many other souls, they will in time make great Light Carriers. You cannot know their karma so make allowances for their roles in your present period of history.
“Whilst you are not punished for your “sins” you do make reparations so that you fully understand the effect of them on other souls. This can be very deep and heart wrenching, but it is the only way to learn your lessons. You have all to some degree had such experiences, so now you can understand why it is essential you are non-judgmental where other souls are concerned. Do your best to be forgiving if you have been personally hurt, and please do not harbor the energies of hate as they will eat into your body and cause you illness. They will also hold you back from progressing, as you cannot take them with you into the higher dimensions.” (13)
He reminds us also that no one escapes the need to answer to the universal laws and asks us to find it in our hearts to respond with compassion.
“Dear Ones, understand that the dark Ones are answerable to Universal Law exactly as you are, and like you when in duality are allowed to experience through their freewill choice. Of course they are also subject to your laws, but by the very nature of their rejection of them and the power they hold, they feel above the law. However, as you will know by now every soul is answerable at some stage for every action and even thought that intended to harm or cause the death of another soul. It is why we ask you to bear this in mind when the dark Ones are called to justice, and stand for their crimes against Humanity.
“If it is within your ability and your mindset allows for compassion, it is the best response you can have. Better still if you can acknowledge that the dark Ones are Beings of Light that retain their godspark, you would help them by sending Love and Light. Naturally that is not easy particularly if you have a relative or friend that has been a victim of theirs.
“How you respond depends on your level of consciousness, but you will eventually reach one of Christ Consciousness and act from that level of understanding. Therefore if it needs a ‘deal’ to remove the dark Ones and they are allowed refuge somewhere, it is only a temporary respite as ultimately they will not escape justice.” (14)
Therefore we have our work cut out for us as the cabal is rounded up. That role is to remain calm, refrain from joy at the fall of the cabal, and refrain from hate. We’re asked to remind ourselves that we too have played all roles, dark as well as light. The galactics tell us that the dark ones will escape neither the universal law nor the laws of this planet. But how we respond to the mass arrests will determine how harmonious a process the mass arrests are and whether, as a result, we progress from these events or hinder our own advancement.
Footnotes
(1) The Galactic Federation through Greg Giles, March 27, 2012, at http://ascensionearth2012.blogspot.ca/.
(2) SaLuSa, April 4, 2012, at http://www.treeofthegoldenlight.com/First_Contact/Channeled_Messages_by_Mike_Quinsey.htm
(3) The Galactic Federation through Greg Giles, March 27, 2012
(4) Loc. cit.
(5) Loc. cit.
(6) Loc. cit.
(7) Loc. cit.
(8) Loc. cit.
(9) The Pleiadian High Council, “Suppressed Revelations and Impending Changes,” channeled through Wes Annac, April 1, 2012 at http://tinyurl.com/7bac88z
(10) Archangel Michael, An Hour with an Angel, March 5, 2012, at http://the2012scenario.com/2012/03/an-hour-with-an-angel-with-archangel-michael-march-5-2012/
(11) SaLuSa, Feb. 27, 2012.
(12) SaLuSa, Feb. 22, 2012.
(13) SaLuSa, Oct. 28, 2011.
(14) SaLuSa, May 20, 2011.
Ever Wondered Just Who Is The Committee of 300?
Ever Wondered Just Who Is The Committee of 300?
It is said they are a tight-knit group of elitists who have been pulling the strings of our various governments and ruling all our lives up until recently.
Ben Fulford pointed directly to them this week in his latest post.
But have you ever wondered exactly who the members of the Committee of 300 are? I know I have.
As we know from all our sources – from SaLuSa to Matthew Ward, from David Wilcock to Ben Fulford and, more recently Drake and Cobra – mass arrests of the dark cabal are about to take place.
Which means they won’t be around much longer in their current jobs and homes.
So, just in case you didn’t know who they all are – like me - and just so we all know who they are when they are arrested for their crimes to humanity and this planet very soon, I followed the link in Ben’s post.
Here’s what I found…
This is a short excerpt from the site’s home page:
The Committee of 300 governs the world via a three-city state empire, in which the cities pay no taxes and obey their own laws.
City of London Corporation – Financial power centre, established in 1067
District of Columbia – Military power centre, established in 1871
Vatican City – Religious power centre, sovereign in 1929The Committee of 300 uses a network of roundtable groups, think tanks and secret societies which control the world’s largest financial institutions and governments. The most prominent of these groups include Chatham House, Bilderburg Group, Trilateral Commission, Council on Foreign Relations, Ditchley Foundation, Club of Rome, RAND Corporation, PNAC and of course Freemasonry.
Western Europe, excluding the German Empire, was united by the House of Guelph in 1815. The German Empire was conquered in 1918 along with the Russian Empire and the Ottoman Empire following World War I. The thousand year war between the Guelph’s and Ghibelline’s finally concluded with the Axis defeat in WWII, and the introduction of nuclear weapons, since then the world has been under monopolist control.
The victors of WWII play off the Germanic race as losers in that ideologically staged war. The Germanic race was in fact spectacular winners, crushing the mighty Japanese Empire and recapturing control over the Holy Land. Communism was allowed to spread through Eastern Europe and Asia, proving to be a superior method of conquering peoples than warfare. Communism in the forms of socialism, Outcome Based Education and slanted mass media has spread through the western world converting people by suggestion to Marxist-Leninist ideology.
Following WWII in 1946 the Tavistock Institute was established in London with a grant from the Rockefeller Foundation. Tavistock’s pioneer work in behavioural science along Freudian lines of ‘controlling’ humans established it as the world centre of foundation ideology. “All Tavistock and American foundation techniques have a single goal—to break down the psychological strength of the individual and render him helpless to oppose the dictators of the World Order. Any technique which helps to break down the family unit, and family inculcated principles of religion, honour, patriotism and sexual behaviour, is used by the Tavistock scientists as weapons of crowd control.”
This section then goes into a whole spiel about World War III, which the Galactics have told us will not happen.
So I will leave you to your own discretion here if you wish to keep reading: http://www.pseudoreality.org/
But another section of the site lists what Ben Fulford says he believes is the most accurate listing of the Committee of 300.
Some names I know. Some I don’t. You may.
But there are enough well known faces from world politics – past and present, royalty, the church and financial families for me to relate to.
And so, for posterity’s sake, here they are.
Current Membership List of The Committee of 300
http://www.pseudoreality.org/committeeof300.html
Abdullah II, King of Jordan
Abramovich, Roman
Ackermann, Josef
Adeane, Edward
Agius, Marcus
Ahtisaari, Martti
Akerson, Daniel
Albert II, King of Belgium
Alexander, Crown Prince of Yugoslavia
Amato, Giuliano
Anderson, Carl A.
Andreotti, Giulio
Andrew, Duke of York
Anne, Princess Royal
Anstee, Nick
Ash, Timothy Garton
Astor, William Waldorf
Aven, Pyotr
Balkenende, Jan Peter
Ballmer, Steve
Balls, Ed
Barroso, José Manuel
Beatrix, Queen of the Netherlands
Belka, Marek
Bergsten, C. Fred
Berlusconi, Silvio
Bernake, Ben
Bernstein, Nils
Berwick, Donald
Bildt, Carl
Bischoff, Sir Winfried
Blair, Tony
Blankfein, Lloyd
Blavatnik, Leonard
Bloomberg, Michael
Bolkestein, Frits
Bolkiah, Hassanal
Bonello, Michael C
Bonino, Emma
Boren, David L.
Borwin, Duke of Mecklenburg
Bronfman, Charles
Bronfman, Edgar Jr.
Bruton, John
Brzezinski, Zbigniew
Budenberg, Robin
Buffet, Warren
Bush, George HW
Cameron, David
Camilla, Duchess of Cornwall
Cardoso, Fernando Henrique
Carington, Peter
Carl XVI Gustaf, King of Sweden
Carlos, Duke of Parma
Carney, Mark
Carroll, Cynthia
Caruana, Jaime
Castell, Sir William
Chan, Anson
Chan, Margaret
Chan, Norman
Charles, Prince of Wales
Chartres, Richard
Chiaie, Stefano Delle
Chipman, Dr John
Chodiev, Patokh
Christoph, Prince of Schleswig-Holstein
Cicchitto, Fabrizio
Clark, Wesley
Clarke, Kenneth
Clegg, Nick
Clinton, Bill
Cohen, Abby Joseph
Cohen, Ronald
Cohn, Gary
Colonna di Paliano, Marcantonio, Duke of Paliano
Constantijn, Prince of the Netherlands
Constantine II, King of Greece
Cooksey, David
Cowen, Brian
Craven, Sir John
Crockett, Andrew
Dadush, Uri
D’Aloisio, Tony
Darling, Alistair
Davies, Sir Howard
Davignon, Étienne
Davis, David
de Rothschild, Benjamin
de Rothschild, David René
de Rothschild, Evelyn
de Rothschild, Leopold
Deiss, Joseph
Deripaska, Oleg
Dobson, Michael
Draghi, Mario
Du Plessis, Jan
Dudley, William C.
Duisenberg, Wim
Edward, Duke of Kent
Edward, Earl of Wessex
Elizabeth II, Queen of the United Kingdom
Elkann, John
Emanuele, Vittorio, Prince of Naples
Ernst August, Prince of Hanover
Feldstein, Martin
Festing, Matthew
Fillon, François
Fischer, Heinz
Fischer, Joschka
Fischer, Stanley
FitzGerald, Niall
Franz, Duke of Bavaria
Fridman, Mikhail
Friso, Prince of Orange-Nassau
Gates, Bill
Geidt, Christopher
Geithner, Timothy
Georg Friedrich, Prince of Prussia
Gibson-Smith, Dr Chris
Gorbachev, Mikhail
Gore, Al
Gotlieb, Allan
Green, Stephen
Greenspan, Alan
Grosvenor, Gerald, 6th Duke of Westminster
Gurría, José Ángel
Hague, William
Hampton, Sir Philip
Hans-Adam II, Prince of Liechtenstein
Harald V, King of Norway
Harper, Stephen
Heisbourg, François
Henri, Grand Duke of Luxembourg
Hildebrand, Philipp
Hills, Carla Anderson
Holbrooke, Richard
Honohan, Patrick
Howard, Alan
Ibragimov, Alijan
Ingves, Stefan
Isaacson, Walter
Juan Carlos, King of Spain
Jacobs, Kenneth M.
Julius, DeAnne
Juncker, Jean-Claude
Kenen, Peter
Kerry, John
King, Mervyn
Kinnock, Glenys
Kissinger, Henry
Knight, Malcolm
Koon, William H. II
Krugman, Paul
Kufuor, John
Lajolo, Giovanni
Lake, Anthony
Lambert, Richard
Lamy, Pascal
Landau, Jean-Pierre
Laurence, Timothy
Leigh-Pemberton, James
Leka, Crown Prince of Albania
Leonard, Mark
Levene, Peter
Leviev, Lev
Levitt, Arthur
Levy, Michael
Lieberman, Joe
Livingston, Ian
Loong, Lee Hsien
Lorenz of Belgium, Archduke of Austria-Este
Louis Alphonse, Duke of Anjou
Louis-Dreyfus, Gérard
Mabel, Princess of Orange-Nassau
Mandelson, Peter
Manning, Sir David
Margherita, Archduchess of Austria-Este
Margrethe II, Queen of Denmark
Martínez, Guillermo Ortiz
Mashkevitch, Alexander
Massimo, Stefano, Prince of Roccasecca dei Volsci
Massimo-Brancaccio, Fabrizio Prince of Arsoli and Triggiano
McDonough, William Joseph
McLarty, Mack
Mersch, Yves
Michael, Prince of Kent
Michael, King of Romania
Miliband, David
Miliband, Ed
Mittal, Lakshmi
Moreno, Glen
Moritz, Prince and Landgrave of Hesse-Kassel
Murdoch, Rupert
Napoléon, Charles
Nasser, Jacques
Niblett, Robin
Nichols, Vincent
Nicolás, Adolfo
Noyer, Christian
Ofer, Sammy
Ogilvy, Alexandra, Lady Ogilvy
Ogilvy, David, 13th Earl of Airlie
Ollila, Jorma
Oppenheimer, Nicky
Osborne, George
Oudea, Frederic
Parker, Sir John
Patten, Chris
Pébereau, Michel
Penny, Gareth
Peres, Shimon
Philip, Duke of Edinburgh
Pio, Dom Duarte, Duke of Braganza
Pöhl, Karl Otto
Powell, Colin
Prokhorov, Mikhail
Quaden, Guy
Rasmussen, Anders Fogh
Ratzinger, Joseph Alois (Pope Benedict XVI)
Reuben, David
Reuben, Simon
Rhodes, William R.
Rice, Susan
Richard, Duke of Gloucester
Rifkind, Sir Malcolm
Ritblat, Sir John
Roach, Stephen S.
Robinson, Mary
Rockefeller, David Jr.
Rockefeller, David Sr.
Rockefeller, Nicholas
Rodríguez, Javier Echevarría
Rogoff, Kenneth
Roth, Jean-Pierre
Rothschild, Jacob
Rubenstein, David
Rubin, Robert
Ruspoli, Francesco, 10th Prince of Cerveteri
Safra, Joseph
Safra, Moises
Sands, Peter
Sarkozy, Nicolas
Sassoon, Isaac
Sassoon, James
Sawers, Sir Robert John
Scardino, Marjorie
Schwab, Klaus
Schwarzenberg, Karel
Schwarzman, Stephen A.
Shapiro, Sidney
Sheinwald, Nigel
Sigismund, Grand Duke of Tuscany, Archduke of Austria
Simeon of Saxe-Coburg and Gotha
Snowe, Olympia
Sofía, Queen of Spain
Soros, George
Specter, Arlen
Stern, Ernest
Stevenson, Dennis
Steyer, Tom
Stiglitz, Joseph
Strauss-Kahn, Dominique
Straw, Jack
Sutherland, Peter
Tanner, Mary
Tedeschi, Ettore Gotti
Thompson, Mark
Thomson, Dr. James
Tietmeyer, Hans
Trichet, Jean-Claude
Tucker, Paul
Van Rompuy, Herman
Vélez, Álvaro Uribe
Verplaetse, Alfons
Villiger, Kaspar
Vladimirovna, Maria, Grand Duchess of Russia
Volcker, Paul
von Habsburg, Otto
Waddaulah, Hassanal Bolkiah Mu’izzaddin, Sultan of Brunei
Walker, Sir David
Wallenberg, Jacob
Walsh, John
Warburg, Max
Weber, Axel Alfred
Weill, Michael David
Wellink, Nout
Whitman, Marina von Neumann
Willem-Alexander, Prince of Orange
William Prince of Wales
Williams, Dr Rowan
Williams, Shirley
Wilson, David
Wolfensohn, James
Wolin, Neal S.
Woolf, Harry
Woolsey, R. James Jr.
Worcester, Sir Robert
Wu, Sarah
Zoellick, Robert
Sudip Kar-Gupta And Clara Ferreira-Marques – Top JP Morgan Banker Quits After Market Abuse Fine – 3 April
By Sudip Kar-Gupta and Clara Ferreira-Marques
LONDON | Tue Apr 3, 2012 11:16am EDT
(Reuters) – One of London’s most prominent bankers was fined 450,000 pounds ($720,000) for passing on inside information in a case that will embarrass his employer J.P. Morgan Cazenove and which marks a push by British regulators to target high-profile figures.
Top “rainmaker” Ian Hannam resigned on Tuesday, to fight the fine imposed by the Financial Services Authority (FSA) in relation to 2008 emails that contained information about one of his clients, Heritage Oil (HOIL.L).
The gruff former special forces soldier, who rose from humble beginnings, is the fifth person to be fined in relation to improper disclosure this year by the regulator, which has previously been accused of being ineffectual in its fight against financial crime. Of the five, Hannam is the most prominent.
Hannam resigned from his position as JPMorgan’s Global Chairman of Equity Capital Markets, after two decades at the firm, JPMorgan (JPM.N) informed staff in an internal memo, which became the talk of the London financial world.
Hannam, a veteran banker in his fifties with a focus on resources and mining and whose current deals include advising miner Xstrata (XTA.L) on its merger with Glencore (GLEN.L), said he had fully cooperated with the FSA and would appeal against the decision.
“I will complete my current client commitments and ensure a smooth handover of responsibilities,” Hannam said in an emailed statement. “Appealing the case while still at the firm would be an unfair distraction to my clients and colleagues.”
The case is a fresh blow for the reputation of investment banking, as Hannam joins the list of big names targeted by the regulator, which has been attempting to clamp down on abuse.
Hannam’s fine, detailed in a decision notice dated February 27 and the outcome of a lengthy investigation, is among the largest levied against an individual for market abuse, though it is dwarfed by the 3.6 million pounds hedge fund investor David Einhorn incurred in January over trading abuses.
The FSA said there was no evidence that anyone had traded shares as a result of the emails, or that Hannam made any personal gain, prompting some to question the prominence given to the decision by the FSA, before an appeal.
AFGHANISTAN TO MEXICO
South London-born Hannam, a brusque character who is known to be tough with staff but dedicated to clients, has risen to become one of the biggest names in the industry, playing a key role in the tie-up between blue-blood adviser Cazenove and U.S. rival JPMorgan, as well as a top name in mining.
Hannam’s appetite for risk and his belief in frontier capitalism – most famously in Afghanistan, where he supported a nascent mining industry – have made him instrumental in shaking up the once very British bluechip FTSE 100 index, bringing in, over the last decade, Kazakh miner Kazakhmys (KAZ.L), Mexico’s Fresnillo (FRES.L), India’s Vedanta (VED.L) and others.
Hannam helped bring Xstrata to market a decade ago and has since continued to advise its chief executive, Mick Davis, who came to Hannam’s defense on Tuesday. Davis said Hannam was a trusted adviser and had his full support in the appeal.
“He has always acted with honesty and integrity and I have greatly valued his counsel,” Davis said. “Ian is a great credit to his profession.”
He made deals in Africa, South America and the Middle East. Fortune magazine once quoted him as saying during a visit to Baghdad: “I’m here to make five new Iraqi billionaires every year for the next five years.”
Hannam, the son of a local government worker, began his career with construction company Taylor Woodrow, and switched to banking with Salomon Brothers in New York in the early 1980s before moving to Robert Fleming in 1992.
The FSA said in its statement that Hannam had disclosed inside information on Heritage, which had mandated JP Morgan in 2007 to secure a “substantial” corporate transaction, in two emails sent in September and October 2008.
One email contained information about a potential offer for Heritage, where Hannam worked closely with chief executive and former mercenary Tony Buckingham, while another mentioned a new oil find – both potentially market moving.
“I believe that the offer will come in the current difficult market conditions at 3.50-4.00 pounds per share,” Hannam told a contact referred to by the FSA as Mr A in the September email, disclosing takeover talks.
The FSA says Hannam knew Mr A worked with an organization potentially interested in investing in Kurdistan, where Heritage was working.
“I am not trying to force your hand, just wanted to make you aware of what is happening,” he told Mr A in the email.
In a separate email, Hannam told Mr A and a separate businessman with interests in Kurdistan, named as Mr B, that “Tony has just found oil and it is looking good”.
In his defense to the FSA, Hannam has said the September email was too general to constitute inside information, while the information had already been passed to Mr A by Buckingham.
Hannam has appealed to the Upper Tribunal, which may uphold, change or cancel the FSA’s decision.
Heritage Oil declined to comment.
($1 = 0.6244 British pounds)
(Additional reporting by Douwe Miedema, Victoria Howley and Tom Bergin; Editing by Giles Elgood)
Mike Quinsey – SaLuSa – 4 April 2012
You wanted action, you wanted results, and you now have them if you follow certain people who have acquired a reputation for successfully discovering the truth. An enormous set up of hundreds of different personnel, are poised ready to apprehend the criminals who have been behind the most cynical and profitable crimes against you in recent times. The size of this project will ensure that it makes the media sit up and take notice, as it will be impossible to ignore it. That will be the start of more open reporting which shall be truthfully stated, and not dressed up purely for shock affects. At last the breakthrough will have been made, as it has long been overdue. It is important to keep calm and not allow the revelations to create a false impression of what is involved. Time will prove that those involved in bringing the culprits to justice, have acted on behalf of the people and that no ulterior motive is at the root of it.
The cleansing covers many different areas of life, and making way for the interim government is an essential number one requirement if the changes are to flow smoothly. Be assured we have a total understanding of the way you think and work, and it means that we can anticipate how things are going to proceed. Our allies are well rehearsed in their different responsibilities, and we do anticipate that these opening events will be successful. The most difficult challenge is the first one we are meeting, and it will be a real eye opener for everyone. Whatever you know now, will be far from the whole truth of what has been going on. There is hardly any part of your society or business that has not been tainted by the dealings of the dark Ones. Sometimes even honest people have been unwittingly caught up in their activities, but they shall not be a target for us.
Dear Ones, the battle royal has begun but since we are in the ascendancy, we have every reason to anticipate a great victory. You too may take your share of the plaudits as without you and your determination to bring the necessary changes in, we would not be where we are today. The number of Lightworkers is at a new high and paving the way towards Ascension. Levels of consciousness continue to rise, and that is also another sign of how well you have taken to the task of preparing for Ascension. In the little time that remains before the end of the year closes in on you, you will find it to be action filled and much given in the way of guidance.
Already the different countries and their governments have been made to understand that aggression must stop, and that we are authorized to take whatever steps are necessary to ensure there is peace. Hitherto, our intervention on your behalf was curtailed for karmic reasons, but now by Divine decree we are able to enforce the plan for your spiritual evolution. You will find that suddenly progress has leapt forward, and that has taken the dark Ones by surprise who never allowed for such a turn around. We are pressing ahead and know that it is now the turn of the Light to take charge, and commence to set up a society that can express its freedom to create a new peaceful way forward. Naturally, not all laws need to be reviewed but many are illegal or have been framed in false circumstances. Events such a 9/11 resulted in many unfair and unjust changes, directed at alleged terrorists that were not the ones responsible. Similar incidents have also taken place, and each time used to tighten the controls over you.
From this time onwards, you will become more aware of what is happening and kept informed through various sources of information, until we can provide you with a regular and reliable one. We intend to open our own channel, and thus be sure that you are provided with all that is needed to have a wonderful remainder to your year. Do not worry about any small confrontations as they will not escalate to anything more dangerous. So after looking for some signs that things were moving forward, there is an abundance of evidence to show it is. There are still some sources that are set up to give out disinformation, so use your discretion and intuition to determine which of them are reliable.
You will ask “what should we do whilst the changes are taking place”, and we suggest as far as possible live your lives as before. However be aware that if as expected there will be a short spell very soon where your lives are disrupted, cover yourself by ensuring you have food and other necessities for just a few days. Whatever happens we along with our allies will make certain that operations are efficiently completed, with as little inconvenience to you as possible. As you would expect, we have everything in hand and that includes your safety. The dark Ones will fight until the last and even now plan atrocities, but since we are aware of them we shall prevent them from happening.
You are entering the final phases of Ascension, and it should not be forgotten that the changes are part of the preparations that have been going on for a very long time. As always it is important that until we can open up a free media, that you do not fall for false reports that will be expected to create fear. Some chaos is inevitable, but at the same time will not be lasting. Know that military activity will not be directed at the people, but in support of them. Our operations are being carried out to propel you as fast as possible towards Ascension. As we often tell you, we of the Galactic Federation are of the Light, and carrying out the orders of the Higher Beings that carve out your destiny.
I am SaLuSa from Sirius, and so pleased that matters can now be placed into public view. Information can now be released knowing that it will reach you, and in future there will be a direct line to you. We have nothing to hide but for obvious reasons do not reveal our hand to the dark Ones. Whatever information they are able to pick up, they will be unable to hack our systems as they are technically beyond them. It is in fact quite the opposite, as we have access to their communications and nothing is kept secret or beyond our reach. We are normally a step ahead of them, which is why we are confident of the outcome of our activities. Victory is ours, and we share the joy with you.
Thank you SaLuSa.
Mike Quinsey.