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Dubai

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  1. "Repo 105"!!! Thanks.... I could hardly understand him! It does look serious, but I'm not sure why (except some bankstas have been very naught boys!)
  2. I admit I don't fully understand the implications of Mr. Story's latest post, but it appears (to me) to say that all those banks that parcelled up mortgages and sold them on did so illegally. That makes them worthless. It also allows the debtor to sue the creditor if done without permission..... is this big, or not? MAJOR UPDATE, 12TH MARCH 2010: OBAMA, GEITHNER AND THE D.C MEETING ON SECURITISATION As elaborated below, securitisation in the United States is illegal and contrary to public policy. All securitised contracts are void not least because they were created to facilitate one or more criminal acts, as explained in this presentation. By definition and US law, all contracts created to accommodate an illegal act are void. So, what is happening in Washington, DC, ‘as we speak’? Why, a high-level meeting has been taking place to examine how SECURITISATION of FRNs can be used to dig the Obama Administration out of the void it has created by its bovine criminality and stupidity. The prime movers of this demented, ILLEGAL activity are President Obama and Timothy Geithner, US Treasury Secretary, backed by other purblind officials such as Larry Summers. No doubt the careful timing of the publication of our exposure of securitisation here as completely illegal and contrary to the Rule of Law, will have given the underlings of these perpetrators some concern. Obama’s World Court-granted immunity from prosecution does not extend to domestic felonies. UNITED KINGDOM: THE LAW OF PROPERTY ACT, 1925 In the United Kingdom, The Law of Property Act, 1925, particularly Section 136 which deals with assignments, makes it crystal clear that alienation by a mortgage provider of all assets that have been assigned without notice having been issued to, or permission granted by, the debtor, is void and fraudulent. Therefore, ALL SECURITISATION OPERATIONS BY FINANCIAL INSTITUTIONS WITHIN THE BRITISH JURISDICTION WHICH HAVE NOT BEEN EXPLICITLY SANCTIONED IN ADVANCE BY THE MORTGAGOR, with the mortgagor fully aware of the situation, are void. Northern Rock and all financial entities engaged in assigning, on-selling, trading and benefiting financially from such activity without notice to or the prior consent of the mortgagor, are engaged in CRIMINAL ACTIVITY. These institutions have accordingly been trading worthless paper between themselves within a fraudulent financial carousel, as repeatedly stated in these reports. The Directors of these institutions should be investigated and prosecuted by the UK authorities: and if this does not happen, we will keep asking why not. No doubt Lord Myners [see Appendix below], the ‘City Minister’, knows the score perfectly well, and is being ‘economical with the truth’. In which case he is a co-conspirator in this criminality. The bottom line here is that it is possible in the British jurisdiction to stop anyone who holds a contract for debt (the creditor) from passing that debt to a third party (debt collector) if they have not complied fully with The Law of Property Act 1925 and to hold them to the original contract and, therefore, to their stringent obligations to the debtor under the Consumer Credit Act, 1974. If they do not, the contract is toast and they cannot collect or sue for recovery of the debt. And the debtor is at liberty to counterclaim even if they do sue the debtor: which is another reason why they don't do this. For this reason, no one talks about the The Law of Property Act, 1925. They will now! http://www.opsi.gov.uk/RevisedStatutes/Acts/ukpga/1925/cukpga_19250020_en_1 136 Legal assignments of things in action: (1): Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, OF WHICH EXPRESS NOTICE IN WRITING HAS BEEN GIVEN TO THE DEBTOR, trustee or other person from whom the assignor would have been entitled to claim such debt or thing in action, is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice: (a) the legal right to such debt or thing in action; ( all legal and other remedies for the same; and © the power to give a good discharge for the same without the concurrence of the assignor: Provided that, if the debtor, trustee or other person liable in respect of such debt or thing in action has notice: (a) that the assignment is disputed by the assignor or any person claiming under him; or ( of any other opposing or conflicting claims to such debt or thing in action; he may, if he thinks fit, either call upon the persons making claim thereto to interplead concerning the same, or pay the debt or other thing in action into court under the provisions of the Trustee Act, 1925. http://www.worldreports.org/news/274_securitisation_is_100_illegal_under_u.s._legislation
  3. Apparently it wasn't other banks that brought down lehmans but a strange thing called repo quanto 5..... actually I have no idea what the bloke said.... he has a really strong accent! Video at FT is less than 2 mins.... anyone with financial knowledge care to comment?? http://www.ft.com/cms/8787ae00-2a26-11dc-9208-000b5df10621.html?_i_referralObject=15255516&fromSearch=n
  4. So, Angela Merkel says a new European Union bailout fund would require changes to existing EU treaties. Now, I might be getting a bit excitable here, but I think this could be cause serious headaches for both Labour and Conservatives alike. Start with the technical stuff. The reason Mrs Merkel is talking about treaty change is that the Treaty on the European Union (Maastricht, to you and me) both allows the creation of a single European currency, and forbids one member-state bailing out another. So if the EU is create its own European Monetary Fund to save Greece (and whichever member goes bad after Greece) then the treaty must change. So far, so good. But hang on: when the Lisbon Treaty was ratified by the UK (yes, without a referendum), the Prime Minister promised that there would be no more institutional changes in Europe for up to a decade. He made the pledge several times, including in the Commons. For instance, Gordon Brown told MPs: I can confirm that, not just for this Parliament but also for the next, it is the position of the Government to oppose any further institutional change in the relationship between the EU and its member states. [Hansard, 22 October 2007] So, if there is to be a proposed change to the Maastricht rules (meaning a new “amending treaty”), will the Prime Minister stick to that line and oppose it? Or is he prepared to accept “further institutional change”? As I write this, I don’t know, because Downing Street doesn’t seem to know the answer. I’ll update this as soon as I get some clarity. http://blogs.telegraph.co.uk/news/jameskirkup/100029209/a-new-eu-treaty-i-see-trouble-ahead/ So they're going to break their own law because it suits them? Doesn't bode well for the future......
  5. Oh dear.... it looks like the gumment are losing the backing of the Police..... once the Military decide against those who would be King.... they're fvcked. Greek police stormed a government printing In Athens, Greek Ministry of Internal Affairs officers stormed the state printing office. It is reported by TV channel "Russia 24". Greek police want to prevent the publication of government paper with the text of the law of the new stringent economy measures of the federal budget. According to the law of the country, passed a law can come into force only after publication in the official newspaper of the Government of Greece. The bill, which caused such a reaction, provides a significant reduction in salaries, bonuses and holiday pay, the growth of other taxes and excise taxes. The Government expects that additional austerity measures will bring the budget 4.8 billion euros of additional revenue that would allow reduction in the state budget deficit to the level of 4% against the deficit of Greece to 8.7% of GDP. Recall also that the principal officers of the Greek airline Olympic Airlines, the airline laid off after the transfer into private hands, the fifth consecutive day hold in their hands the building of the Chief Financial Management (Treasury), Greece. Because of their actions partially offset by a central Athens street Panepistimiu. http://translate.google.com/translate?hl=en&sl=ru&tl=en&u=http%3A%2F%2Ftop.rbc.ru%2Fincidents%2F08%2F03%2F2010%2F377878.shtml%3Ffrom%3Dstartqip
  6. Well, perhaps the hamster wasn't the best choice..... but as to the Dodo, I presume it became extinct partly because it couldn't fly.... but nor can Ostriches, and there's tons of them! I understand the call to "embrace change".... but when it comes from middle managers it is to be interpreted as "like it or lump it" when your pay is cut again. I'd prefer to see people being less victims of change, and more catalysts of change....
  7. no party will win an outright majority in a forthcoming general election I know it's tracking off topic, but this beggars belief. The tories have the election handed to them on a frikkin plate.... and can't take it??? That idiot phoney tony lite, aka cameroon needs pulling NOW! Back on topic.... where does the euro figure in all this?
  8. I thought ham shanks could just hand back the keys and not be liable for any shortfall?
  9. Historians believe Nostradamus's house price predictions came when he entered a trance-like state, during which he would commune with a group of smug demons at a kind of metaphysical Satanic dinner party where the culinary theme would be 'modern eclectic dining' and the background music sounded a bit like Corinne Bailey-Rae.
  10. Not really.... The financial services industry is the engine room of the UK putting enough into the economy each year to build 36 news hospitals or 600 city academies new research reveals today. In the first of a new series of in-depth analysis reports on the UK financial sector, "Focus on Finance" sets out the real value of the banking sector to the UK economy. The report highlights: A £50 billion contribution to the UK economy - some 8.5 per cent of the UK's Gross Domestic Product (GDP) equivalent to around £850 for every man, woman and child in the country; http://www.bba.org.uk/bba/jsp/polopoly.jsp?d=145&a=9652 They're not as important as they tell us they are. Forgot to mention.... they put in 850 quid per head of population..... how much have the population just bailed them out? 2 grand per head or something? Now, I'm not an accountant, but........
  11. 1.5% isn't a "plunge"..... a 1.5% "plunge" is like saying "Massive Sale..... Was £1 .... now 98.5 pence!!!!!!". What we are about to see is...... "Sale..... Was £1..... now 50 pence!!!". That's after the 20p drop we've had already...
  12. I've been seeing the majority of people that I know working harder for less over the last 5 years or so. It's not just salary... it's cuts in perks and benefits, increases in hours worked, increases in responsibilities and duties..... all for less wonga! Unless you're a banksta of course. As to the charts, I'm sure they'll interest some of the chartologists (??) on here.... it looked like a seismograph recording to me....
  13. 100% agreed. But then you start thinking who's behind it? nulabia don't have the brains.... we can blame the jesuits, jews nazis, commies, nwo, lizards, little grey aliens..... but at the end of the day, it's our fault for letting it happen. Sorry, kids!
  14. More woe for the Dubai property speculators..... DUBAI - Thousands of residents and businesses stand to lose millions of dollars due to the damage caused by deadly storms and floods in the UAE, insurers told Maktoob News on Wednesday. snip... Insurers said the majority of UAE homeowners and businesses do not take out insurance, while basic motor insurance does not cover flood damage in a desert country where it rarely rains. “The majority of homes and businesses in the UAE do not have any insurance. It is a cultural thing,” said Ralph Kabban, business development manager at United Insurance Brokers. http://business.maktoob.com/20090000442246/Residents_lose_millions_in_UAE_floods/Article.htm?utm_campaign=Day-Newsletter&utm_medium=Main-News1&utm_source=Day-Newsletter&utm_content=
  15. I can't believe it.... I last checked GBP / CAD a couple of months ago.... it was bad, about 1.75...... I looked today...... 1.55...... the pound has already crashed against many currencies. It was 2.35 to the pound in March 2007.... it's dropped 80c in 3 years.... un-ferkin-believable
  16. It's why smoking was banned in pubs.... nothing to do with your health (as if they give a...) With the state of the UK and USA these days, you'd be forgiven for thinking that either the commies or the fourth reich had a cunning plan to collapse both from the inside.....
  17. The "market" has one purpose, and one purpose only.... to make a profit. And these days it is increasingly "short term" profit as accountants generally seem to be blind to what lies beyond end of year figures. For all its faults, if the beeb goes it will be sorely missed. You'll end up with the pap that passes for 'entertainment' in the usa, masses of inane repetitive advertising, shows that run for 5 minutes before interruption with more ads, in short, a really debilitating experience which is why so many are not even bothering to switch on.
  18. My friend, a Doctor, saved 50 lives last year. He got his salary. It's his job.
  19. It's less than 5 minutes long.... but testament to the fact that Joe Bloggs has just about had enough..... http://www.youtube.com/watch?v=bew_9GeuGA4&feature=player_embedded
  20. No, they certainly don't. Years of "politically correct" brainwashing seems to be turning the UK into Zombie Nation
  21. Not really... our company did make a profit last year.... but didn't pay any bonuses (and when I say bonus, I mean an amount that might buy you a fridge (if you're lucky) not a mansion in Cornwall) beacuse they wanted to keep money in reserve to ride out the "dip".
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