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Archive for the ‘War Economy’ Category

Mss Water Wall 14Tsunami Strikes Indonesia Without Warning, Killing Over 220
By Muktita Suhartono and Richard C. Paddock, Dec. 23, 2018 [Excerpted]

JAKARTA, Indonesia — A frantic search was underway on Sunday for survivors of a tsunami in Indonesia’s Sunda Strait that struck without warning on the country’s two most-populous islands, killing at least 222 people, injuring more than 800 others and destroying hundred of buildings.

It was the second deadly tsunami in Indonesia this year, capping what will be the country’s worst year for disasters in more than a decade, (more…)

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FREEDOMFIGHTERS FOR AMERICA - THIS ORGANIZATIONEXPOSING ...2 – CRATERAIR

Coffee, tea, or bankruptcy?

—Forbes, September 26, 1994

In the case of the Caterair buyout, Carlyle made up for the money they lost— like many of the company’s early deals, Caterair was horrendously unsuccessful—by hiring the man that would eventually be the leader of the most powerful country in the world: George W. Bush. Caterair may have been a complete failure by ordinary business standards, but the relationships cultivated therein were more than worth the stinging financial losses.

In Washington, it’s not what you know, but who you know, and knowing George W. Bush, then son of the nation’s president, was a valuable connection indeed. But getting an in with the president’s son wasn’t easy, and it all started when the man known simply as “Mr. Marriott” got a hankering to sell one of his businesses. (more…)

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1 – THE POLITICIAN, THE BUSINESSMAN, AND THE UNLUCKY ESKIMOS

It was a great scam.
—Stephen Norris, co-founder Carlyle Group, May 20, 2002

Stephen Norris is getting excited now. Even today, recalling the events that led to the formation of the Carlyle Group, the company that would eventually come to represent Norris’ legacy, gives the 53-year-old Washington dealmaker a thrill. Though they didn’t know it at the time, co-founders Norris and David Rubenstein, a young staffer from the Carter administration, were embarking on the ride of a lifetime.

With a nose for the big deal, the cocksure Norris is, by his own admission, a difficult man to get along with. (more…)

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The Great Eskimo Tax ScamThe Great Eskimo Tax Scam

by Robert Lettin, March 30, 2016

[H]ere’s a fun story from the Wayback Machine to remind you it’s never the wrong time to pay attention to taxes.

Back in 1971, President Nixon signed the Alaska Native Claims Settlement Act. The law was intended to settle a long history of land disputes dating back to before Alaskan statehood. It distributed up to 104.5 million acres of land to the native tribes, paid out $962.5 million… and created 13 “Alaska native regional corporations” to manage those assets. But timing, as they say, is everything. Fishing, timber, and oil industries collapsed, and nearly all of the new corporations were left with losses. (more…)

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'Rank Hypocrisy': WTO Deal Bows to Wealth, Squashes the PoorWTO fails the poorest – again
By Ruth Bergan, 2011

World Trade Organisation fails in the Doha trade talks to deliver even a minimal package to benefit the least developed countries

Trade ministers have long insisted that the World Trade Organisaton (WTO) Doha negotiations are a vital part of the response to the global emergencies in the economy, food, climate and employment. Yet we learned this week that a lack of political will has rendered the WTO incapable of agreeing even a minimal package for the least developed countries.

It became clear in late April – the 10th year of negotiations – that WTO members would not manage to agree a full Doha deal. In May the director general, Pascal Lamy, announced a proposed “early harvest” package comprising four measures aimed at benefitting least developed countries. (more…)

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Iran, Oil and Strait of HormuzAttacking Iran –
By ING, 2007 [Edited]

The market impact of a surprise Israeli strike on its nuclear facilities

The financial markets are assuming that an Israeli or US attack on Iran is unlikely. However, an imminent build-up of US forces in the Gulf suggest that they could be in for a shock.

An imminent attack would seem unlikely, given the weakness of the US administrations, and hopes for regime change in Iran. However, Iran’s threats that it will acquire nuclear weapons within two years, suggest that President Bush may sanction action before he leaves office at the end of 2008. And, within a month the US will have two aircraft carrier battle groups and a new expeditionary Marine strike force in the Persian Gulf, which might provide a shield for an Israeli bombing of Iran’s facilities. (more…)

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Walgreen's - New uses for failed banks - Pictures - CBS NewsList of banks acquired or bankrupted during the Great Recession

This is a list of notable financial institutions worldwide that were severely affected by the Great Recession centered in 2007–2009. The list includes banks (including savings and loan associations, commercial banks and investment banks), building societies and insurance companies that were:

  • taken over or merged with another financial institution;
  • nationalised by a government or central bank; or
  • declared insolvent or liquidated.

(more…)

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