Category Archives: Corruption

Corruption, Finance, U.S. Congress, U.S. Politics, Wall Street

Goldman Sachs America: Bipartisanship in Corruption, Political Cannabis ………

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      BFF

“Months before MF Global teetered on the brink, federal regulators were seeking to rein in the types of risky trades that contributed to the firm’s collapse. But they faced opposition from an influential opponent: Jon S. Corzine, the head of the then little-known brokerage firm. As a former United States senator and a former governor of New Jersey, as well as the leader of Goldman Sachs in the 1990s, Mr. Corzine carried significant weight in the worlds of Washington and Wall Street. While other financial firms employed teams of lobbyists to fight the new regulation, MF Global’s chief executive in meetings over the last year personally pressed regulators to halt their plans. The agency proposing the rule, the Commodity Futures Trading Commission, relented………….”

Who said there is no bipartisanship in the U.S. Congress? There is in fact a lot of it, but it is not used to help the American people. Look at Goldman Sachs: how many federal government potentates, of both parties, have come from that vampire venerable institution? Not to mention other financial institutions. Jon Corzine (good Blue Northeast Democrat) used to be chairman of Goldman Sachs, before he decided to purchase the state of New Jersey as a senator, then as a governor. Robert Rubin was a honcho of Citibank (Citigroup) before he joined the Clinton administration. And there have been many others.
Then there is the money, lobbyist money, political cannabis, “Texas Weed” as I might call it. The money unites both parties in a bond of unprecedented bipartisanship. There is something that is noble about lobbyist money, corporate money: nothing could bring these two major parties together like lobbyist money. Nothing like bipartisanship based on free markets and the freedom of corporate expression (the latter courtesy of, a gift of, the Supremes).

Cheers
mhg


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Corruption, Palestine, Tunisia

Lara of Palestine and Paris, Zhivago of Palestine………..

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     BFF  
                                                Lara and Yuri
“The Tunisian government has issued an arrest warrant for the widow of former Palestinian leader Yasser Arafat, in connection with a corruption investigation into the “International School of Carthage”, the Tunisian state-run news agency reported on Monday. The International School of Cartage was founded by Suha Arafat – wife of former Palestinian leader Yasser Arafat – and former Tunisian First Lady Leila Ben Ali Trabelsi, wife of ousted Tunisian President Zine El Abidine Ben Ali. In 2007, the Tunisian authorities withdrew Suha Arafat’s Tunisian nationality…………..”

Interesting: Yasser Arafat spent many years flying around Arab capitals like a King Lear, kissing kings and potentates and dictators (he had no choice; these were the only kinds of Arab leaders available). He did end up in an enclave or hamlet in the West Bank. His widow prefers more amenable pastures to the available bit of “Palestine” she talks a lot about.
Somehow the Palestinian leadership, the PLO and Fatah, caught the usual Arab ruling-classes bug: they got fat and rich and distant. As corrupt as any other Arab potentates, dictators and absolute tribal monarch. After Oslo, once the aid money started flowing again.
Cheers
mhg


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Arab Counterrevoltion, Arab Revolutions, Corruption, GCC, Saudi Arabia

Defining an Arab Kleptocracy: “Sultan’s Fortune is Estimated at $270 Billion”………

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      BFF

“Sultan’s fortune is estimated at $270 billion, which he distributed between his sons prior to his death in order to shore up their political position in the competitive princely arena. The reality is that every senior prince has placed his favorite sons in important positions in the Kingdom .…….. The Al Saud resembles a family business, established in 1932. Ibn Saud managed to conquer and unite the vast territory of the Arabian Peninsula, give it his family name, and alienate, divide, and control his cousins and brothers in order to establish a clear and undisputed line of succession through his sons. After Ibn Saud’s death, his sons, though never entirely united, maintained enough coherence to keep the store running. That is no longer true of the thousands of princes that they produced. As the older generation dies off, the new generation has fallen to fighting in front of the customers. Indeed, with the ratio of royals to commoners now at one to a thousand (compared to one to five million in the United Kingdom), the challenge of managing princely privileges, salaries, and demand for jobs has never been more intense. Royal perks include lifetime sinecures and domination of the civil service, which enable the princes to award contracts and receive commissions on top of their salaries. So the Saudi regime is divided, its legitimacy is questioned …….….”

This lady knows her country, but she won’t travel home anytime soon.

The amount mentioned is staggering, nay mind boggling. No wonder the Saudi semi-official media (alarabiya, Asharq Alawsat) call him Sultan of Plenty. If true, he had to earn, loot, and steal plenty to get to the $ 270 billion. Yet million of people of the Arabian Peninsula struggle to find jobs, housing, and the basic necessities of life. The unemployment rate is in double digits (over 30% for young people), millions are out of work and more live under poverty than we’ll ever read about in Saudi media or Western media like the Washington Post. He does not appear on the annual Forbes list of richest people; that covers only normal mortals not princes and shaikhs. His nephew al-Waleed Bin Talal is listed, along with the information claiming that his fortune is ‘self-made’. The folks at Forbes editorial must think al-Waleed started flipping burgers at the Dairy Queen in Riyadh and moved up from there. Just like Steve Forbes. It can’t be stupidity, can it?

Cheers
mhg


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Britain, Corruption, NATO, Saudi Arabia

Tony Blair Bin Bandar Meets Borat: the Great Money Machine Moves to Kazakhstan…….

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     BFF

“Kazakhstan said Monday it has hired Britain’s ex-prime minister Tony Blair as a consultant to attract new investment to the Central Asian state, on a contract reportedly worth millions of dollars. The hire marks a major coup for strongman President Nursultan Nazarbayev’s bid to promote Kazakhstan as an economic powerhouse despite complaints from critics that the country pays little heed to Western democratic standards. The Daily Telegraph earlier said Blair had signed a one-year contract worth eight million pounds ($12.7 million) with the government of Nazarbayev, who has ruled Kazakhstan since even before the Soviet collapse. The foreign ministry refused to confirm the figure but said Blair was one of several foreign officials contracted by the Kazakh state…….. Nazarbayev’s top advisor Yermukhamet Yertysbayev said Blair would probably deal with “the question of social-economic modernization of Kazakhstan.” “He has extensive ties. He himself worked on modernisation of such a well developed country as the United Kingdom”……”

It also markes a great coup for Blair: almost makes me jealous.
They forgot to mention how Blair worked on the moderation of WMD in Iraq, the stalling of the Israeli-Palestinian talks, the Libyan-JP Morgan-Migrahi-Lockerbie deal, Central-Asian gas and oil deals, among others. Oh, I forgot his most memorable deal: killing the investigation by the British Serious Frauds Office (SFO) into the BPP 1 billion (US$ 2 billion) bribe by BAE Systems to Saudi Prince Bandar Bin Sultan for a huge weapons deal (generally known as the al0Yamama scandal). For which he has been and still is richly rewarded. Tony also famously opined in February something to the effect that “We must manage the Egyptian uprising“.
Some people claim that all these deals Tony is making are like his own revenge, the Poodle’s Revenge.
Cheers
mhg


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Corruption, Culture, Saudi Arabia

Oh, Ambassador of Georgetown!………….

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      BFF

“During a class we took (`Adil Jubayr (current Saudi ambassador in US) and I among others) on International Relations in the Middle East with Michael Hudson at Georgetown University, we all had to make presentations about our research papers. When it was time for Jubayr to make his presentation, he proceeded to do a propaganda gig for the Saudi royal family. I remember that Michael, very patiently and kindly, trying to explain to his student that we are not supposed to do propaganda roles for governments in our papers or in the class room. I remember that Jubayr looked stunned and disappointed: a look that stayed with him for the semester………”
Cheers
mhg


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Britain, Corruption, cyber war, Finance, Saudi Arabia

Another Huge Saudi-British Bribery Scandal, Missing Tony Blair……….

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      BFF

“The British government is facing a potentially explosive decision over whether or not to block a criminal investigation into a new bribery scandal involving a two billion pounds contract to provide communications and cyber warfare capabilities to Saudi Arabia. Dominic Grieve, the attorney-general, will have to decide whether to intervene in an inquiry concerning the payment of millions of pounds in alleged bribes from a British defence firm to the Saudi royal family, according to The Sunday Times. He is to consider whether the investigation by the Serious Fraud Office (SFO) into a two billion pounds contract to provide communications and cyberwarfare capability to Saudi Arabia is in the public interest. According to the report, Grieve has been briefed on the case after officials at the SFO traced secret payments from the defence firm into a bank account in Switzerland controlled by a member of the Saudi royal family……… The case echoes the political scandal that hit Tony Blair’s government when he pulled the plug on a criminal inquiry into alleged bribes by BAE Systems, the British arms firm, to the Saudis. Then the SFO was investigating allegations that millions of pounds had been paid to a Saudi prince to help BAE clinch a 40 billion pounds contract to sell jets to the kingdom. Downing Street killed off the investigation after the Saudis threatened to ditch the contract…………..”

If there is one thing I have learned about European governments, including the British, it is that they will fold in the face ‘financial’ threats by rich Arab despots, be they a Colonel in Libya or a tribal absolute dynasty in Riyadh. It is the money, stupid.
Tony (the poodle) Blair killed the earlier SFO investigation into BAE Systems’ bribes of US$ 2 billion to Saudi Prince Bandar Bin Sultan al-Saud. At that time, The Economist headlined with a mocking “Bribe, Brittania, Bribe…..”. Of course the Saudi people paid that money which was added to the cost of the contract. Blair was also instrumental in the release of al-Megrahi of the Lockerbie bombing. Regardless of the merits of the case against him, he was released for financial reasons, something Tony Blair seems to be good at these days. Tony Blair worked for JP Morgan at the time, which had Libyan deals.
 
Now a similar Saudi case is in the hands of the SFO (British Serious Frauds Office). That was predictable: the thousands of Saudi leeches princes have boundless greed, and they actually believe that they own the Arabian Peninsula, its petroleum, its people, it camels, and everything else on it. Even its Holy places like Mecca which they are turning into a Las Vegas style money machine. I am betting the British government will also kill this investigation, one way or another.

(You will never read or hear about this scandal in Saudi media. You will never read or hear about it in Gulf GCC media either).

Cheers
mhg


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Corruption, Finance, GCC, Gulf states, Kuwait

A Very Curious Case of Corruption on the Gulf, Oh Watermelon…………

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      BFF

“An investigation into the bank accounts of several members of parliament has been expanded, it was reported yesterday. The politicians are under suspicion of possibly taking bribes. Dharar Al Asousi, the acting attorney general, said he would freeze the bank accounts of 14 of parliament’s 50 members yesterday, the daily Al Jarida reported, quoting unnamed sources…… The scandal began two weeks ago and could mean the Gulf’s most powerful parliament is heading into a crisis when it reconvenes after the summer recess next month. The report in Al Jarida estimated that the number of MPs embroiled in the scandal could rise to 20 as banks refer MPs’ accounts with suspicious transactions to the public prosecution… Ahmed Sadoun, a member of parliament’s Popular Action Bloc, has said the amount of money involved in the scandal is about 96 million Kuwaiti dinars (Dh1.28 billion)………Some Kuwaitis suspect the payments have been made by members of the royal family in a bid to secure support. Others have suggested that the source of the money is elsewhere…………”

There is something that is not kosher about this whole thing, and I mean it may not be what it looks like, (or it may). Suddenly depositing 96 million dinars (more than US $ 325 million) in a few accounts is a very stupid act. Anybody who knows anything about the country would know that such huge transfers cannot be kept secret, not in Kuwait, no way, no how. Unless it was intended to draw public attention.

Either someone in authority was stupid enough to do it, or someone else was clever enough to do it knowing that it will soon be news. That amount of money, if the reports are true, could only come from a government or some potentates with deep pockets. It can be domestic potentates or foreign potentates. Possibly very rich domestic potentates as part of a campaign for political power, part of an ongoing local political infighting within the elites. Or possibly a foreign government bent on interfering in the political life of the country. It can be a big ‘sisterly’ country or a big brotherly country, or it can be some other country. I can name one such government, but I won’t in order to protect the innocent. Now, what government (and its potentates) of what country in our region has such deep pockets and is able of spending money without supervision? I know of one, or maybe two.
Or maybe these guys won the Lottery and don’t know it yet.
Already this ‘report’ is being used for political purposes. Which makes me very suspicious indeed. But anything is possible in the watermelon politics on my Gulf.
Cheers
mhg


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Arab Counterrevoltion, Corruption, Finance, GCC, Middle East, Saudi Arabia

Tony Blair as Scarlett O’Hara: Blair-Gate and the never Ending Saga of International Corruption………..

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“Tony Blair is facing calls for greater transparency in his role as Middle East peace envoy after it emerged that he visited Muammar Gaddafi in 2009 while JP Morgan, the investment bank that employs Blair as a £2m-a-year adviser, sought to negotiate a multibillion-pound loan from Libya. Blair also championed two large business deals in the West Bank and Gaza involving telecoms and gas extraction which stood to benefit corporate clients of JP Morgan, according to a Dispatches investigation to be broadcast on Monday night…………In Palestine while working as the quartet envoy, Blair persuaded the Israeli government to open radio frequencies so mobile phone company Wataniya could operate in the West Bank. The company’s owner, Qtel, a Qatari telecoms company, is a client of JP Morgan and its deal to buy Wataniya was funded with a $2bn loan that JP Morgan helped arrange..……..”

And the beat goes on: in terms of corruption, the life of Tony Blair is a gift that keeps on giving. A veritable Blair-Gate. It started with his killing of the investigation of the British Serious Frauds Office (SFO) of BAE Systems bribes to Saudi prince Bandar Bin Sultan. Tony has never looked back. From oil potentates to international bankers to the most despotic dictators and absolute tribal kings, Blair seems to be their man. Along the way he also went to war. He is also at the forefront of the right-wingers who are calling for yet another bloody war in my Gulf, no doubt he is getting some benefit from the potentates as well for that effort.
Tony Blair, the ‘former’ Laborite, now reminds me of Scarlett O’Hara in Gone With The Wind. When Scarlett rises from the dirt and promises “I’ll never be hungry again. No, nor any of my folk. If I have to lie, steal, cheat or kill. As God is my witness, I’ll never be hungry again”.
Scarlett kept her promise, but she was much more discriminating and more gracious than Mr. Blair about how she did it.
Cheers
mhg


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Corruption, Culture, Death Penalty, Human Right, Salafi, Saudi Arabia

They Are Losing their Heads: another Sorcerer Beheaded in Saudi………

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      BFF

“A Saudi Arabian ministry statement carried by the state news agency, SPA, stated that Abdul Hamid al-Fakki “practiced witchcraft and sorcery,” which are illegal under Saudi Arabia’s Islamic sharia law. Al-Fakki was beheaded in the western city of Medina on Monday, the interior ministry announced. In October last year, Amnesty International said it had appealed to King Abdullah in a letter to commute Fakki’s death sentence. His execution brings to 42 the number of people beheaded in Saudi Arabia this year, according to an AFP tally based on official and human rights group reports…………”

Saudi reforms continue unhindered, according to tribal liberals on my Gulf. As if to prove it, another “sorcerer” was beheaded last week in a Saudi public square (this is only the last of many). He was a poor foreigner from Sudan this time. He was beheaded by the regime for allegedly practicing “sorcery and witchcraft”. Magic is seriously frowned upon in the Kingdom without Magic. I wonder if the Lebanese TV magician Ali Sabat who performed magic on “Lebanese” TV. I believe he is still in prison awaiting something (he was supposed to be beheaded but the princes decided to keep him around for a while after an international campaign).
Oddly, or maybe not so oddly, the usual Western glitterati are not out in force showing their outrage, condemning this most recent execution. Nor is Bernard-Henri Lévy.
Cheers
mhg


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Apartheid, Arab Counterrevoltion, Arab Revolutions, Bahrain, Corruption, ethnic cleansing, GCC, Human Right, Saudi Arabia, UAE, US Foreign Policy

Delusional Bahrain: Despots and Miscreants and a Precocious Schmuck Minister………….

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      BFF

“MOI: Groups of miscreants were out in various areas of Bahrain today in response to calls made through social media websites. Since their movements were illegal, security forces dealt with them and some of the miscreants were arrested and legal actions taken against them.
With regard to incidents at City Center, at around 4:00pm a group of miscreants and lawbreakers broke into the shopping mall to create chaos and spread terror among the public there. As a result the security forces, including women police, had to interfere and deal with them and some of them were arrested and legal actions taken against them.
The Ministry of Interior apologises to the mall management and the public for any inconvenience caused and affirms that the situation everywhere has returned to normal……….”
Ministry of Interior of Bahrain, the body in charge of police, midnight raiders, looters, imported foreign mercenary thugs, politically nationalized foreign goons (from Pakistan, Syria, Jordan, and former Iraqi Ba’athists), torturers, and all round nice guys of the al-Khalifa team. All presided over by a precociously schmuck minister of interior. The country is now a ghettoized occupation zone and these ruling schmucks talk about “normality”.

“The people of Bahrain have won a victory for democracy by their very high participation in the ‘supplementary’ elections……” Regime Spokesman

The rulers of Bahrain are holding another phony election which most of the people of Bahrain have decided to boycott.
Nobody in the whole wide world believes what the regime says on this issue except the governments of Saudi Arabia, the UAE, a couple of other GCC potrntates and some experts in the United States State Department (okay, the latter pretend they do, like the lady in bed who only “thinks of England”).
Cheers
mhg


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