RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London

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Offline SOS3

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Video Below
http://www.youtube.com/watch?v=7tgkUayPfRI

Airing Date Feb.09, 2011

German, U.S. exchanges in merger talks
Code: [Select]
http://www.marketwatch.com/story/nyse-deutsche-b%C3%B6rse-advance-deal-talks-2011-02-09
TSX, London Stock Exchange to merge
Code: [Select]
http://www.cbc.ca/money/story/2011/02/09/tmx-lse-merger.html

MORE GLOBAL INTEGRATION
this is the platform to launch more global regulations.!

Offline Monkeypox

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #1 on: February 09, 2011, 09:22:18 PM »
Global Stock Exchange, here we come.
War Is Peace - Freedom Is Slavery - Ignorance Is Strength


"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty."

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Offline usefulidiot,uselesseater

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #2 on: February 09, 2011, 10:15:42 PM »
Eh? Now that the sleezy NY bankers have looted the U.S. for all that it's worth they want to loot Deutschland too?  ???
"The central challenge of our time is posed not by global terrorism, but rather by the intensifying turbulence caused by the phenomenon of global political awakening. That awakening is socially massive and politically radicalizing."-Zbigniew Brzezinski


Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #4 on: February 10, 2011, 12:20:39 PM »
Global Stock Exchange, here we come.


http://en.wikipedia.org/wiki/The_Gamesters_of_Triskelion
The brains speak, identifying themselves as the Providers, ancient beings of pure intellect that pass their time gambling between one another, wagering sums of "quatloos" over the outcomes of the contests.

This further destroys the firewalls of safety by having these separate exchanges.
This also increases the ability / possibilty of financial manipulation thru fewer and fewer exchanges.

http://www.brighthub.com/engineering/marine/articles/41558.aspx
Water Tight Doors & Ship Safety

Introduction
A ship floats in water during a major part of its lifetime except when it is in a drydock or when it is ultimately broken down into pieces. Since water is a good friend but a dangerous enemy, there are always chances of flooding of the ship and I am sure you remember what happened to the fateful Titanic on its maiden voyage. Hence ship safety is of ultimate importance and every care is taken at design and conception stage to ensure that various parts of the ship, especially the hull and the engine room are safe from flooding.

Water Tight Enclosures
Apart from strengthening the ship’s hull using stiffeners and frames, it is important to have water tight enclosures especially at places where it is important to have a door in a bulkhead for access purposes but it is necessary to maintain water tightness as well. There could be several such situations for example such as the shaft tunnel access from the engine room is via a water tight door.


This may seem to be a minor requirement but just imagine a ship stuck in rough waters due to weather conditions or any other damage due to grounding or collision and the importance of having water tight arrangement in such situations cannot be overemphasized.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #5 on: February 10, 2011, 02:09:40 PM »
Oh and who's taking over who?

http://www.comcast.net/articles/finance/20110209/NYSE.Euronext.Deutsche.Boerse/?cid=rssfeed&attr=article_finance_NYSE.Euronext.Deutsche.Boerse

Germany's Deutsche Boerse AG, the company that runs the stock exchange in Europe's largest economy, could soon take over the New York Stock Exchange. NYSE Euronext Inc., which also operates exchanges


This runs into the Bilderberg/Rothschild/Marshall Plan  Deutche Bank - see:
***Derivatives as a method of counterfeiting and destruction of the currency  

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/02/10/BUG11HKV85.DTL&type=business

The combined organization would be home to publicly traded companies worth about $15 trillion, or 28 percent of global stock-market value, according to data compiled by Bloomberg.
...
The advisers
Deutsche Bank AG and JPMorgan Chase & Co. are advising Deutsche Boerse
, and Perella Weinberg Partners LP is helping NYSE Euronext, according to two people familiar with the matter. Wachtell, Lipton, Rosen & Katz is representing NYSE, and Linklaters LLP is working with Deutsche Boerse, the people said.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #6 on: February 11, 2011, 01:15:27 PM »
Notice that some are "getting" it ...

http://www.nbcnewyork.com/news/local-beat/Merger-Could-Take-NYSE-Out-of-American-Control-115817389.html
Merger Could Take NYSE Out of American Control
...
The reason for the stock exchange was to raise capital for business," said William Higgins, a retired trader who owns 70,000 shares of NYSE stock.

"These derivatives raise no capital.  They're a new method of gambling."
Monopoly? who cares.....

http://www.reuters.com/article/2011/02/10/exchanges-bloomberg-idUSN1022801920110210
Bloomberg says NYSE deal "very good" for New York
...
Bloomberg, who was a Salomon Brothers equities trader before making his fortune through media company Bloomberg LP, said the deal will help keep New York's marketplace competitive globally.
...
An NYSE-Deutsche deal faces scrutiny from German regulators and European antitrust officials, but so far the response from the United States has been nil.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline Kilika

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #7 on: February 11, 2011, 01:21:14 PM »
Yep, the global consolidation is in progress, as planned. Just when one thinks, nah that won't ever happen, it does and is happening. People need to get their spiritual house in order asap.
"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."
1 Timothy 6:10 (KJB)

Offline Dig

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #8 on: February 11, 2011, 11:10:02 PM »
The complete takeover of the market that controls the lives of over 100 million American citizens by bavarian elite?

I can hear crickets.

Aren't there a few New Yorkers who have been very concerned about a 4th Reich?

Hello...McFly....
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline citizenx

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #9 on: February 11, 2011, 11:28:31 PM »
And they are all connected to and run by computers now -- all the trading is done automatically.

There is one gigantic D-Day coming when they all decide to start selling at the same time and there is a cascade of sell-offs.

Bound to happen.

Offline Dig

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #10 on: February 12, 2011, 12:34:20 AM »
Oh and who's taking over who?

http://www.comcast.net/articles/finance/20110209/NYSE.Euronext.Deutsche.Boerse/?cid=rssfeed&attr=article_finance_NYSE.Euronext.Deutsche.Boerse

Germany's Deutsche Boerse AG, the company that runs the stock exchange in Europe's largest economy, could soon take over the New York Stock Exchange. NYSE Euronext Inc., which also operates exchanges


This runs into the Bilderberg/Rothschild/Marshall Plan  Deutche Bank - see:
***Derivatives as a method of counterfeiting and destruction of the currency 

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/02/10/BUG11HKV85.DTL&type=business

The combined organization would be home to publicly traded companies worth about $15 trillion, or 28 percent of global stock-market value, according to data compiled by Bloomberg.
...

The advisers
Deutsche Bank AG and JPMorgan Chase & Co. are advising Deutsche Boerse
, and Perella Weinberg Partners LP is helping NYSE Euronext, according to two people familiar with the matter. Wachtell, Lipton, Rosen & Katz is representing NYSE, and Linklaters LLP is working with Deutsche Boerse, the people said.



Nothing to see, move along:



Clearstream
http://en.wikipedia.org/wiki/Clearstream

Clearstream Banking S.A. (CB) is the custody and settlement division of Deutsche Börse, based in Luxembourg.

It was created in January 2000 through the merger of Cedel International and Deutsche Börse Clearing, part of the Deutsche Börse Group, which owns the Frankfurt Stock Exchange. Cedel, established in 1971, specialized in clearance and settlement. In 1996 it obtained a bank license. In July 2002 Deutsche Börse purchased the remaining 50% of Clearstream International for €1.6 billion. Deutsche Börse's strategy is to be a vertical securities silo, providing facilities for the front and back ends of securities trading. In 2008 Clearstream contributed €489 million to Deutsche Börse's total Earnings Before Interest and Taxes (EBIT) of €1.5 billion. It handled 114 million transactions, and was custodian of securities worth €10.6 trillion (Deutsche Boerse Annual Report, 2008).

In Révélation$ (2001), by investigative reporter Denis Robert and ex-Clearstream banker Ernest Backes, Clearstream was accused of being an international platform for money laundering and tax evasion via an illegal system of secret accounts (the "Clearstream Affair"). Robert has been repeatedly sued by Clearstream under Luxembourg and French laws, with various verdicts.

In Spring 2004, a "Second Clearstream Affair" began, which only attracted significant attention in 2006. Peripheral to the primary Clearstream Affair, it accused several French political figures (including Nicolas Sarkozy), industrial leaders, and members of the secret services of maintaining secret accounts at Clearstream, which allegedly were used to transfer kickbacks in a France–Taiwan frigates scandal. From September 21, 2009 to October 23, 2009, Robert faced trial together with nearly 40 other defendants, including former Prime Minister Dominique de Villepin, retired secret service officer Philippe Rondot, former EADS manager Jean-Louis Gergorin, Imad Lahoud and Florian Bourges.



Accusations


In 2001, investigative reporter Denis Robert and Ernest Backes, an executive at Cedel until May 1983, published a book, Revelation$[5] in which they alleged that Clearstream played a major part in the underground economy, was a main platform for money laundering for hundreds of banks, and "operated hundreds of confidential accounts for banks so they could move money undetected," according to Business Week.[6]

Backes and Le Figaro were sued by Clearstream and found guilty of libel on March 29, 2004. Denis Robert was sued for libel and found guilty three on three counts on appeal on 16 October 2008 (Judgment Paris Court of appeal, 2008, Oct 16) for the books Revelation$ and Black Box, as well as the documentary "Les Dissimulateurs" (The Deceivers). The court noted that "despite the reality, Denis Robert persisted with his accusations; using insinuations, convenient short-cuts, and careless reasoning. This was evident in his assimilation of unpublished and secret accounts, non publication of accounts and double-entry bookkeeping, deleting data and fraud." Denis Robert was unable to provide sufficient evidence to back up his interpretations, tying unpublished accounts to secret accounts and presenting the clearing house (Clearstream) as presiding over a structure of dissimulation. He was sentenced to pay €1,500 per case.

After an investigation in Luxembourg, which was closed in November 2004 after no evidence had been found of wrongdoing (Luxembourg prosecutor's office, Nov. 30, 2004), on suspicion of money laundering, tax evasion, and other fraud, Clearstream's CEO, André Lussi, resigned (See below). This enabled Deutsche Börse to purchase the remaining 50% of Clearstream International in July 2002. According to some, such as Business Week, Lussi had opposed such a takeover.

Clearstream is audited by KPMG, one of the largest global accounting firms. KPMG declared that it found "no evidence" to support the allegations made by Denis Robert and Ernest Backes, although its report was not made public.

Daewoo shutdown inquiries

After Daewoo was split apart in 2000, Clearstream became the subject of two commissions of inquiry in Lorraine (France) conducted before the French parliament and European parliament both of which had no results.

The Clearstream affair

In 2001, co-authors Denis Robert and Ernest Backes released a book called "Révélation$," followed by Robert's "La Boîte Noire," describing what has been named the "greatest financial scandal in the Grand Duchy of Luxembourg."[7] The little publicity their works received came only in the French media, and even there publicity was minimal. In a number of interviews, Denis Robert accused "Le Monde" of deliberately suppressing articles and reviews of his book, suggesting that financial links between "Le Monde" and Deutsche Börse (which now owns 100% of Clearstream's shares) were the cause of this censorship. Denis Robert was found guilty of libel and sentenced altogether 8 times by the French courts for describing Clearstream as a huge money laundering and tax evasion machine, used by major banks, shell companies, and organized crime all over the world. (Paris Court of Appeal, 16, October 2008, 18 December 2008, Tribunal correctionnel de Bordeaux, June 2008)

Banco Ambrosiano scandal

By 1980, Ernest Backes had become Cedel's #3, in charge of relations with clients, but he was fired in May 1983, allegedly because he "knew too much about the Ambrosiano scandal," one of Italy's major political scandals. Two months after his dismissal, Gérard Soisson was found dead in Corsica. The Banco Ambrosiano, allegedly involved in money-laundering for the Mafia and owned in majority by the Vatican Bank, collapsed in 1982. The bank "laundered drugs- and arms-trafficking money for the Italian and American Mafias, and in the 1980s it channeled Vatican money to the Contras in Nicaragua and to Solidarity in Poland", according to Komisar.

In 2005, the Italian justice system reopened its investigation of the murder of Roberto Calvi, Ambrosiano's chairman; it has requested the support of Ernest Backes, and will investigate Gerard Soisson's death, according to Komisar. Licio Gelli, headmaster of Propaganda Due masonic lodge (aka P2, it was involved in Gladio's "strategy of tension" starting from the 1969 Piazza Fontana bombing), and mafiosi Giuseppe Calo, are being prosecuted for the assassination of Roberto Calvi. Ernest Backes explained: "When Soisson died, the Ambrosiano affair wasn't yet known as a scandal. (After it was revealed) I realized that Soisson and I had been at the crossroads. We moved all those transactions known later in the scandal to Lima and other branches. Nobody even knew there was a Banco Ambrosiano branch in Lima and other South American countries."[8][dead link]

Secret accounts and the workings of 21st century economics

Gérard Soisson was the person who authorized each non-published account, "which would be known only by some insiders, including the auditors and members of the council of administration."

Only authorized banks, supranational and government entities, brokers/financial institutions (provided that the institution is subject to regulation by an acceptable regulatory authority) and general corporates as tripartite repo cash providers are eligible customers of Clearstream. Individuals are not eligible as Clearstream Banking customers. Accounts are opened in the name of their legal owners. Each customer is free in asking for the opening of subsequent accounts. All main and subsequent accounts are subject to the same rules and internal control procedures and regulatory supervision. Some subsequent account names contain, beside the customer name, an indication as to third parties. These accounts are not opened for individual persons but on instruction of the legal owner of the account.

Banks in most countries worldwide do generally not publish their customers’ account numbers, due to the banking secrecy and legitimate customer personal protection reasons. Depending on the nature of the business executed through Clearstream, customers elect for their account numbers to be published or unpublished. Customers may elect to provide other Clearstream customers with their respective account numbers to ease the settlement process, i.e. publish their account numbers. For other Clearstream services, e.g. the safekeeping of securities as well as the associated services, such as corporate actions on the deposited securities, customers do not need to publish their account numbers to other market participants. This practice is entirely consistent with international banking industry standards.

The non-publication of account numbers does not mean that these accounts are hidden or secret and unknown to Clearstream’s staff and management, the internal and external auditors and the regulatory authorities. To the contrary, all customer accounts, published and non-published, are all continually reviewed, monitored and reported to the regulators as needed.

Another belief of Denis Robert's book is that, according to the May 9, 2001 op-ed by Bernard Bertossa, attorney general in Geneva, Benoît Dejemeppe, king's attorney in Brussels (procureur du roi), Eva Joly, investigative magistrate in Paris, Jean de Maillard, magistrate in Blois and Renaud van Ruymbeke, a judge in Paris, entitled "The 'black boxes' of financial globalization," is that:

"The chaos of financial flux is only an appearance. Of course, offshore banks and tax havens perfectly hide the points of arrival and of transit of dirty capital. It is even their reason of existence (raison d'être). Trying to find the illegal money flux in those offshore centers is hopelessly doomed... However, since capital from criminal origin pass in the same financial 'pipes' as other ones [legal funds], i.e. clearing and financial routage companies, they become vulnerable precisely during their transfer [in those clearing companies]."[9]

In other words, all financial money flows, legal or illegal, have to pass through the financial system.

A "black box" of Cedel

Ernest Backes also explained that a company named Cedel International, located in Geneva, had been inscribed in the Swiss register of commerce but not included in the books of the mother company, Cedel International in Luxembourg. "This non-consolidated 'branch,' whose president is Robert Douglass of New York, former private secretary of Governor Nelson Rockefeller, and vice chairman of the Chase Manhattan Corporation (now J.P. Morgan Chase), apparently had not raised too many questions for Swiss federal magistrates." Backes qualified this "black box" as "institutionalized tax evasion at highest level in world finance,", noting that tax evasion was even "more or less expressed in the objectives of the company as filed in the Swiss register of commerce." The "branch" has since "been resold to another Luxembourg holding company, with the people in the backyard remaining mostly the same."

March 2000 French parliamentary report

In March 2000, a parliamentary report by French deputies Arnaud Montebourg and Vincent Peillon, entitled "Parliamentary Report on the obstacles on the control and repression of financial criminal activity and of money-laundering in Europe," dedicated its whole third section to "Luxembourg's political dependency toward the financial sector: the Clearstream affair."[10]

Judicial investigations and libel lawsuits

Following the publication of "Revelation$," the tribunal of Luxembourg opened up an investigation on February 26, 2001. On November 30, 2004, the parquet finally declared no proof of "systematic manipulations" had been found, and that investigations would continue on suspicion of manipulation and tax evasion regarding former Clearstream CEO André lussi. This also led to a non lieu (Statement from the Luxembourg Parquet, November 2004).

Denis Robert also has been sued for defamation by other banks and companies incriminated by the book: 50+ different cases — among which Bank Menatep, Banque Générale du Luxembourg, etc., in which the author and his editor Laurent Beccaria were acquitted in all but two cases, and damages for both cases of one Euro were awarded. On January 27, 2006, once more Denis Robert was charged by a Luxembourg committing magistrate for defamation, slander, and insults.

A complaint was opened in March 2001 against Ernest Backes, and Denis Robert was included in it five years later: "I am very surprised of this accusation five years after the facts and of the energy which the Luxembourgian justice puts continuing to harass me while it was not at the end of the inquiry opened for money laundering, tax evasion and corruption against Clearstream", Robert said. An organization, "Freedom to inform," declared to Le Nouvel Observateur magazine that "By transforming the affair Robert in affair Frieden (Luxembourg Minister of Justice, of the Treasury and the Budget), every signature will be a civil act which protects the freedom of the media in Europe."[11]

Suspension & investigation of Clearstream's CEO

On May 15, 2001, André Lussi was suspended from his CEO position at Clearstream, and on December 31, 2001, he departed the company on mutual agreement.[12][13] In February 2004 an investigation was opened against him, on money laundering, fraud, and tax evasion charges.[14][15] André Lussi was replaced by André Roelants, who had been at Dexia. After years of investigations, all allegations made against André Lussi turned out to be completely causeless and the lawsuits were abandoned by the courts.[16]

Refusal of the European Commission to open an investigation: 20 Minutes ' revelations

Along with Ernest Backes, Denis Robert presented Revelation$ to the Capital Tax, Fiscal Systems and Globalization intergroup of the European Parliament in March 2001 and also to the French National Assembly. Answering the question raised by European MPs (MEP) Harlem Désir, Glyn Ford and Francis Wurtz, who asked the Commission to investigate the accusations made by the book and to ensure that the 10 June 1990 directive (91/308 EC) on control of financial establishment be applied in all member states in an effective way, Commissioner Frits Bolkestein observed that "the Commission has no reason to date to believe that the Luxembourg authorities do not apply it vigorously". On April 26, 2006, 20 Minutes revealed that "in May 2005, MEP Paul Van Buitenen was shocked by Frits Bolkestein's presence on Menatep's international consultative council, a Russian banking establishment, and by his work for Shell, a British-Dutch petrol company, two firms 'maintaining secret accounts in Clearstream'... Van Buitenen, also Dutch, then asked for 'clarification' to the European Commission and the opening of a parliamentary investigation. The Commission's president, José Manuel Barroso, replied that these facts 'do not bring up any new question' and that it is not known 'if Menatep made contact with Bolkestein while he was in these positions'. No investigation therefore took place."

The free daily points out that "in 2001, it was Bolkestein himself who announced the Commission's refusal to open up a parliamentary investigation on Clearstream", following Harlem Désir's requests and accusations that Menatep had an "undeclared account" at Clearstream. Bolkestein refused to answer any questions by the newspaper, which recalls that Van Buitenen, former European public servant, had already revealed a vast corruption affair in 1999, which led to the resignation of the Commission presided by Jacques Santer (who has also been prime minister of Luxembourg) and the fall of Edith Cresson.[17]

Furthermore, two Belgian Senators, Isabelle Durant and Jean Cornil, proposed a law in vain in 2004 to create a national investigation commission charged with the investigation of the use of accounts in "clearing and routing firms" to commit fiscal frauds (tax evasion) and/or money-laundering.[18]

Clearstream's reply

In April 2006, while the second "Clearstream affair" was beginning to make French media headlines (See below), Clearstream filed a lawsuit against "John Doe," targeting this time the anonymous denunciations claiming that Nicolas Sarkozy and other French political personalities had secret accounts at Clearstream, which would have been used for hypothetical kickbacks. Former French Prime Minister Dominique de Villepin came under investigation for what may have been his involvement in spreading the false charges against the current French President Sarkozy,[19] but was later acquitted in January 2010, although three of his co-defendants were found guilty.[20]

Furthermore it answered questions of 20 Minutes in an interview, denying knowing anything about the various attempts to create European-level investigations commissions about its internal workings. It also denied "the existence of parallel accounts" and of "personal accounts" (in response, Denis Robert published a list of several personal accounts on his blog[21]). However, the company did recognize that "a banking establishment may request an unpublished account, that is, an account only known by the establishments concerned by the transaction, control authorities, and the auditors of the firm". Clearstream also indicated that it had "spent 15 million euros on various audits without finding anything," Denis Robert's accusations.[22]

Nadhmi Auchi, largest private share-holder of BNP Paribas bank

Iraqi-born Nadhmi Auchi, # 34 on the "Sunday Times Rich List 2004" (# 22 on the same list in 2005) and 13th richest man in Britain according to The Guardian, estimated to be worth $1 billion according to Forbes, also appeared to be a key figure.[23]

Auchi was convicted of profiteering by the Paris Criminal Court, and received a 15-month suspended sentence, for his involvement in Elf's scandal, "the biggest fraud inquiry in Europe since the Second World War. Elf became a private bank for its executives who spent £200 million on political favours, mistresses, jewellery, fine art, villas and apartments".[24] The "Guardian" noted that Nadhmi Auchi had helped Orascom (which owns Djezzy GSM), owned by Onsi Sawiris (worth $5.2 billion with his family according to Forbes[25]), gain a contract to set up mobile phone networks in post-Saddam's Iraq. As owner of the General Mediterranean Holdings, Auchi is the largest private shareholder of BNP Paribas, which until 2001 managed the escrow account through which the money from the Oil-for-Food programme transited.

Bank Menatep

Bank Menatep, owned by Mikhail Khodorkovsky, was involved in the "Kremlingate", when $4.8 billion in IMF funds were diverted to various banks, including US banks.[26] It opened up its non-published Cedel account #81 738 on May 15, 1997. "Menatep further violated the rules because many transfers were of cash, not for settlement of securities", writes Komisar. "For the three months in 1997 for which I hold microfiches, Backes says, only cash transfers were transferred through the Meanatep account. There were a lot of transfers between Menatep and the Bank of New York." Natasha Gurfinkel Kagalovsky, a former Bank of New York official and the wife of a Menatep vice-president, was accused of helping launder at least $7 billion from Russia, according to Komisar. US investigators have attempted to find out if some of the laundered money originated with Menatep.

On November 26, 2003, Backes and another ex-banker, Swiss citizen André Strebel, filed a criminal complaint with the Swiss attorney general against Khodorkovsky and his colleagues Platon Lebedev and Alexei Golubovich, accusing them of money-laundering and supporting a criminal organization. They requested an investigation and a search of records of the Swiss office of Menatep SA, Menatep Finances SA, Valmet. and of Bank Leu in Geneva, related to claims of fraud against the Russian company Avisma and money-laundering by Menatep in Switzerland. According to this complaint, Bank Menatep has been linked since its creation to the Russian oligarchy and criminal organizations, such as Khodorkovsky, Alexander Konanykhine and the Russian godfather Semion Mogilevich. "Even though Menatep officially failed in 1998, it oddly remained on the non-published list of Clearstream accounts for 2000", wrote Komisar. Clearstream's listings also present 36 other Russian accounts, most non-published.[27]

In April 2006, Clearstream declared, to the French edition of 20 Minutes, that if "Menatep may have strange accounts, it wasn't closed because of money-laundering". It also claimed that it dealt with "banks accredited in their country of origin", but not with "establishments that are registered on the Financial Action Task Force on Money Laundering's black list".[22]

The Second Clearstream Affair

The Second Clearstream affair began in July 2004, when anonymous denunciations sent to magistrate Renaud Van Ruymbeke accused various important French political figures of having received kickbacks related to the Taiwan frigates scandal, through secret personal accounts at Clearstream. Clearstream was again pointed out as having been a major platform for illegal financial transactions. After thorough investigation including search in Clearstream's archives and accounts, M Van Ruymbecke found absolutely no evidence of the validity of the allegations and closed the case. After an investigation by judges On September 3, 2004, the Paris parquet (public prosecutor) opened an investigation into charges of "defamation", following a complaint by Philippe Delmas, EADS' vice-president. Magistrates Jean-Marie d'Huy and Henri Pons have charged Dominique de Villepin, former French PM, Jean-Louis Gergorin, former EADS executive who confessed having been the poison pen in the case, Imad Lahoud, Florian bourges and Denis Robert. Their trial started on 21 September 2009.

Investigation of the anonymous denunciations

On May 3, 2004 and June 14, 2004, Renaud Van Ruymbeke and Dominique Talancé, the French magistrates in charge of the Taiwan frigates scandal, received two letters and a CD-ROM from an anonymous informant (called corbeau in French), detailing numbered bank accounts maintained at Clearstream and describing secret transfers of millions of dollars. Many personalities were named, including Alain Gomez, former director of Thomson-CSF (which since has become Thales), Andrew Wang, the Taiwanese intermediary of the frigates contract and one of Taiwan's key figures concerning arms contracts, Philippe Delmas, vice-president of EADS the European aeronautics consortium, and Nicolas Sarkozy, then minister of the Economy, Dominique Strauss-Kahn, Jean-Pierre Chevènement, and others. Members of the French secret services also were named.[28]

Magistrate Van Ruymbeke opened another investigation, in July 2004. According to the denunciations, Andrew Wang passed on money to several very important French officials from 1999 to 2003, using Clearstream.[29][30]

But in January 2006, both magistrates declared the case closed, on the grounds that the corbeau 's list of Clearstream accounts owned by various political figures was a fraud. For example, the numbered Banca popolare di Sondrio Clearstream account, supposedly in the names of "Stéphane Bocsa" and "Paul de Nagy" — French president, Nicolas Sarkozy's full name is "Nicolas Paul Stéphane Sarkozy de Nagy-Bocsa" — was not Sarkozy's personal account, but an account used by various persons, according to the declarations of the Banca popolare di Sondrio to Judge Ruymbeke.

Lawsuits alleging defamation

In December 2005, magistrate Van Ruymbeke, in charge of the Taiwan frigates Affair, showed that the listings had been fraudulently modified to accuse French political luminaries.

Searches in 2007

French magistrates sought to search the Canard enchaîné's offices in May 2007, after the election of Nicolas Sarkozy to the presidency. According to editing director Claude Angeli, the judges were looking for information on a "Rondot document" treating of alleged "Japanese accounts" of former President Jacques Chirac. The judges were not allowed access to the newspaper's offices, and Reporters Without Borders (RSF) protested against the search.[31]
[edit]
The October surprise conspiracy

Ernest Backes also indicated in Révélation$ that he was in charge of the transfer of $7 million from Chase Manhattan Bank and Citibank, on January 16, 1980, to pay for the liberation of the American hostages held in Tehran's embassy (Iran). He gave copies of files that he asserted shed new light on the October surprise conspiracy to the French National Assembly.

Bin Laden's Bahrain International Bank

Bahrain International Bank, which has been suspected of moving Osama bin Laden's money, had an account number in Clearstream, according to records supplied by Ernest Backes.[32]
[edit]
Banks with accounts in Clearstream
Bank of Credit and Commerce International, which, although officially closed in July 1991, continued to operate via Clearstream through unpublished accounts — as did Bank Menatep, involved in the "Kremlingate" (diversion of IMF funds), and owned by Mikhail Khodorkovsky
Banque Générale du Luxembourg
Carlyle Group[33]
Crédit Lyonnais, one of France's major financial crashes during the 1990s
Société Générale
Banco Ambrosiano, controlled by the Vatican Bank and involved in one of Italy's major financial and political scandals
Bahrain International Bank, possible links to Osama Ben Laden
Siemens (Published Accounts by Lucy Komisar)

More than 38,000 others[34]; as Clearstream is an international clearing and settlement organization, most member companies and banks have published accounts. Dealing with Clearstream is entirely legal; accounts used for tax evasion or money laundering is not.

Iranian Funds Controversy

Clearstream is allegedly holding $2 billion in Iranian funds in a Citibank account. Since 2008, these funds have been ordered frozen by the U.S. District Court for the Southern District of New York, and are intended for use to pay the families of hundreds of US Marines killed and injured in a 1983 Beirut bombing that a US federal judge ruled was orchestrated by Iran, according to the Wall Street Journal.[35][36]


Bibliography
Denis Robert, Ernest Backes: The silence of the money. The Clearstream scandal. (2002, ISBN 3-85842-546-X )
Denis Robert, Ernest Backes: Révélation$ (Edition des Arènes, 2001, ISBN 2-912485-28-2)
Denis Robert, Ernest Backes: Das Schweigen des Geldes. Der Clearstream-Skandal, Pendo Verlag Zurich (2002, ISBN 3-85842-546-X)
Denis Robert, Ernest Backes: Revelaçoes sobre o mundo financeiro, Editorial Inquérito (Portugal)
Denis Robert, Ernest Backes: Revelation$ (Japanese ed. Tokuma Shoten Co, Tokyo)
Denis Robert, La Boîte noire (Editions des arènes, ISBN 2-912485-38-X )
David Loader, Clearing, Settlement and Custody (operation management Series (Securities of institutes) (2002, ISBN 0-7506-5484-8 )
Jean-Pierre Thiollet, Beau linge et argent sale - Fraude fiscale internationale et blanchiment des capitaux (tax avoidance, tax evasion and money laundering)(2002, ISBN 2 914571178)
David M. Weiss, Global Securities processing: The Markets, The Products (1997, ISBN 0-13-323965-9)
Lucy Komisar, Explosive Revelation$
Official March 2000 French Parliamentary Report on the obstacles on the control and repression of financial criminal activity and of money-laundering in Europe by French MPs Vincent Peillon and Arnaud Montebourg, third section on "Luxembourg's political dependency toward the financial sector: the Clearstream affair" (pp. 83–111 on PDF version)


See also
Argentine debt restructuring
ATTAC
Banco Ambrosiano scandal
Kremlingate
Underground economy


References
^ FESE statistics 2008 | url=http://www.businessweek.com/magazine/content/01_47/b3758141.htm
^ "Principal Employers by size" (PDF). p. 5.
^ a b European Commission June 2, 2004 decision on Clearstream's infringement of competition rules, decision IP/04/705
^ (French) "142 millions de transactions en 2000". Le Monde. June 1, 2001.
^ http://www.hound-dogs.com/cover_story/coverstory.htm
^ "Europe Needs an Independent Settlement System". Business Week. June 4, 2001.
^ France 2 URL accessed in January 2006
^ "Offshore banking: the secret threat to America". Hound Dogs. 2003. Retrieved January 2006. (by investigative reporter Lucy Komisar)
^ (French) Harlem Désir's official website (European MPs Harlem Désir, Glyn Ford and Francis Wurtz press statement about the $1.5 trillion math error & Denis Robert and Ernest Backes' book "Revelation$" and a May 9, 2001 op-ed in Le Monde titled "Les 'boîtes noires' de la mondialisation financière" ("The black box of financial globalization") by Bernard Bertossa, attorney general in Geneva, Benoît Dejemeppe, king's attorney in Brussels (procureur des konings, procureur du roi), Eva Joly, investigative magistrate in Paris, Jean de Maillard, magistrate in Blois and Renaud van Ruymbeke, judge in Paris)
^ (French) Official March 2000 French Parliamentary Report on the obstacles on the control and repression of financial criminal activity and of money-laundering in Europe by French MPs Vincent Peillon and Arnaud Montebourg, third section on "Luxembourg's political dependency toward the financial sector: the Clearstream affair" (pp. 83-111 on PDF version)
^ (French) "A petition of support to Denis Roberts". Le Nouvel Observateur. February 22, 2006. Retrieved 2006-02-22. (petition available here)
^ "Lussi suspension ignites battle for control of Clearstream". Finextra. May 17, 2001. Retrieved January 2006.
^ "Clearstream faces cash probe". London: Money Telegraph. May 17, 2001. Retrieved January 2006.
^ (French) "L'ex-PDG de Clearstream inculpé". Le Monde. February 6, 2004. Retrieved January 2006.
^ (English)/(French) "André Lussi, CEO of Clearstream, stepping down - interview of Denis Robert" (PDF). Tobin tax. June 2001.
^ (German)d'Wort. “Eine Affäre, die nie hätte begonnen werden dürfen”. June 10. 2006
^ (French) "Révélation 20 Minutes: Quand la Commission européenne refusait d'enquêter sur Clearstream". 20 Minutes. April 26, 2006. Archived from the original on April 30, 2006. Retrieved 2006-04-29.
^ (French) "Affaire Clearstream: questions-réponses à la Commission". 20 Minutes. April 26, 2006. Archived from the original on May 12, 2006. Retrieved 2006-04-29. (provides link to PDF reports about Frits Bolkestein response to Harlem Désir and others MEP's question, as well as José Manuel Barroso's response to Paul Van Buitenen and to the law proposition of Belgian senators Isabelle Durant and Jean Cornil
^ Bremner, Charles (July 6, 2007). "De Villepin likely to face conspiracy charges". London: Times online. Retrieved 2007-07-06.
^ (French) "Clearstream : Villepin salue "le courage du tribunal"". Le Monde. January 28, 2010. Retrieved 2010-01-28.[dead link]
^ "Clearstream claims that it has no personal accounts, Denis Robert publish a list of such accounts (video)". Denis Robert's blog. April 27, 2006. Retrieved 2006-04-29.
^ a b (French) "Pour Clearstream, 'il n'y a pas de comptes parallèles'". 20 Minutes. April 26, 2006. Archived from the original on May 12, 2006. Retrieved 2006-04-29.
^ Forbes_Auchi
^ "The politics of sleaze". London: The Guardian. November 16, 2003.[dead link]
^ Forbes_Sawiris
^ See former World Bank vice-president Joseph Stiglitz, chapter on Russia in "Globalization and Its Discontents"
^ (English)/(French)/(Spanish) "Unlawful debt or financial crime against human development". ATTAC. June 30, 2001. Retrieved January 2006.
^ (French) "Les grandes dates de l'affaire". Le Figaro. April 26, 2006. Retrieved 2006-04-29.
^ (French) "Chuan-pu Andrew Wang, intermédiaire taïwanais dans le commerce d'armes: 'Je n'ai jamais payé de commissions à un politique français'". Le Monde. October 20, 2004. Retrieved January 2006.
^ (French) "Cette ténébreuse affaire qui oppose Sarkozy à Villepin". Le Monde. November 10, 2004. Retrieved January 2006.
^ "Clearstream: les juges au Canard et chez l'avocat de Sarkozy," Libération, 11 May 2007. Read here (French).
^ "Tracking Terrorist Money - 'Too Hot for US to handle?' by Lucy Komisar". Pacific News Service. October 4, 2001.
^ "US Securities and Exchange Commission response to a Carlyle request for confidential treatment". 2004-06-24.
^ "Clearstream's International Counterparties".
^ http://online.wsj.com/article/SB126057864707988237.html Wall Street Journal, US freezes $2 billion in Iran case, December 12, 2009
^ http://www.reuters.com/article/idUSTRE5BB0ID20091212 Reuters, US froze $2 billion held for Iran in Citibank: report, Dec 12 2009


External links


Main sources
Clearstream home page
Les Arenes editing house of Denis Roberts' book - translated by google
Les Arenes links (including English)
Denis Robert's blog
(French) Official March 2000 French Parliamentary Report on the obstacles on the control and repression of financial criminal activity and of money-laundering in Europe by French MPs Vincent Peillon and Arnaud Montebourg, third section on "Luxembourg's political dependency toward the financial sector: the Clearstream affair" (pp. 83–111 on PDF version)


Media reports


In English
"Cross-border trade needs smoothing, bankers say". International Herald Tribune. January 24, 2003.
"Explosive Revelation$,". March 15, 2002.
"Interview with Lucy Komisar about offshore banking". Spitfire. February 5, 2004.
"A little more on banks today (interview with Lucy Komisar)". Iraq War. August 21, 2004.
"The bank that buys up journalists," (PDF). Punch magazine. October 11, 1997.


In French (Google transl. available)
"L'affaire Clearstream tourne à l'affaire d'Etat". nouvel Obs. April 28, 2006.
"Les trois niveaux de l'affaire Clearstream". TF1 (tv). May 4, 2006. Retrieved 2006-05-05.
"Le scandale Clearstream à nouveau sur le devant de la scène - Pétition de soutien à Denis Robert, inculpé par la justice luxembourgeoise". Hacktivist News Service. February 17, 2006.
"Des banquiers aux mains sales". Alternatives économiques. July-August 2001.
"L'affaire de la 'boîte noire' Clearstream rebondit à Genève". Le Courrier. February 12, 2004. (Google translation available for all articles...)
"Succès contre la boîte noire". Le Courrier. February 5, 2004.
"L'affaire Clearstream, au coeur du système libéral". L'Humanité. February 19, 2002.
"Les énigmes du listing Clearstream". Le Nouvel Observateur. June 30, 2005.
"Affaire Clearstream: le patron de la DST remet toutes les notes de son service à M. Sarkozy". Le Monde. June 10, 2005.
"Clearstream perd encore en justice". Agence France Presse. March 17, 2004.
"Denis Robert, l--$-1òùhomme qui dérange les puissants". Politis. January 22, 2002.
"'Le lobby bancaire est le plus puissant du monde', un entretien avec Denis Robert". Politis. December 9, 2004.
"Denis Robert met le feu". Technikart. February 11, 2003.
"Pour une poignée de milliards de dollars". Technikart. March 13, 2002.
"'Effet d'annonce' (entretien avec Denis Robert)". Le Nouvel Observateur. September 25, 2001.
"Enquête sur les comptes secrets des banques". Le Figaro. February 26, 2001.
"Ernest Backes, l'homme qui lutte contre le 'crime bancaire organisé'". Le Figaro. February 26, 2001.
"La mission parlementaire enquêtera sur Clearstream". Le Figaro. February 27, 2001.
"La justice luxembourgeoise enquête sur Clearstream". Le Figaro. April 7, 2001.
"La décision luxembourgeoise fait trembler les banques". Le Figaro. May 14, 2001.
"Clearstream: les comptes secrets passés au crible". Le Figaro. May 17, 2001.
"Blanchiment: les députés épinglent Luxembourg". Le Figaro. January 23, 2001.
"Les 1 000 milliards de dollars du blanchiment". Le Figaro. May 15, 2001.
"Deutsche Börse reprend 50% de Clearstream pour 1,6 milliards d'euros". Le Figaro. February 2, 2002.
"Parfum de scandale dans la finance internationale". Le Figaro. February 26, 2002.
"Des sénateurs belges veulent enquêter sur des sociétés de clearing". Le Figaro. March 30, 2002.
"Euroclear va fusionner avec Crest". Le Figaro. July 4, 2002.
"André Roellants entre au directoire de Deutsche Börse (comme vice-président)". Le Figaro. September 10, 2002.
"L'ex-patron de Clearstream inculpé pour blanchiment". Le Figaro. February 2, 2004.
"Bruxelles épingle Clearstream pour entrave à la concurrence". Le Figaro. March 3, 2004.
"Clearstream perd de nouveau en justice". Le Figaro. March 13, 2004.
"Justice: satisfaction de Clearstream et de Denis Robert". Le Figaro. March 30, 2004.
"Bruxelles ouvre une procédure contre Clearstream". Le Figaro. April 1, 2004.
"Enquête sur un éventuel blanchissement". Le Figaro. June 19, 2004.
"Le corbeau, un fin connaisseur de la finance internationale". Le Figaro. June 23, 2004.
"Jeffrey Tessler (Bank of New York...va remplacer André Roellants...)". Le Figaro. September 24, 2004.
"Jean-Louis Gergorin: 'Je ne suis pas le corbeau'". Le Figaro. November 16, 2004.
"Le parquet conteste la procédure Rhodia". Le Figaro. September 2, 2005.
"Quand la fiction dépeint la réalité". Le Figaro. November 6, 2005.


Other languages
(Spanish) "El banco Clearstream, implicado en la apropiación indebida de fondos del FMI" (PDF). Diagonal Periodico. March 17–30, 2005. (very interesting, speaks about Nadhmi Auchi)


Others
About Lucy Komisar
compiled info on Clearstream by ATTAC Luxembourg.
Film by Denis Robert and Pascal Laurent, "L'Affaire Clearstream racontee à un ouvrier de Daewoo"
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline birther truther tenther

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #11 on: February 12, 2011, 01:53:37 AM »
Eventually physical trading floors will be a thing of the past, and everything will be done "through the cloud" of course.

Offline happyJoy

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #12 on: February 12, 2011, 09:10:49 PM »
Vas ist das "NYSE Euronext"? From an organizational context.
I mean is it the NYSE proper or an offshoot?
Another bucket of blood under the bridge, you learn to love bridges and never look down. - HST

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #13 on: February 13, 2011, 02:54:17 PM »
Vas ist das "NYSE Euronext"? From an organizational context.  I mean is it the NYSE proper or an offshoot?

All the stock exchanges trade stock in the "stock Bank" the DTCC

related: The Unknown $19 Trillion Depository Trust Company

The Depository Trust Company (DTC) is the best kept secret in America. Headquartered at 55 Water Street in New York City, the average American has no clue that this financial institution is the most powerful banking corporation in the world.

The general public has no knowledge of what the DTC is or what they do. How can a private banking trust company hold assets of over $19 trillion and be unknown? In a recent press release dated April 19, 1999, the Depository Trust Company stated:

The Depository Trust Company (DTC) is the world’s largest securities depository, holding nearly $19 trillion in assets for its Participants and their customers…. Last year, DTC processed over 164 million book-entry deliveries valued at more than $77 trillion.

search "Depository Trust and Clearing Corporation"

GS -> New York's Depository Trust Company (DTC) <-> Trading traffic -> GS

They can selectively manipulate the market short term all day long. Which translates to all day long. Which translates to they make money manipulating the market all dayu every day.

The New York's Depository Trust Company (DTC) is the "Bank" for stock shares. GS [ as board directors - direct holders ] and others have their fingers directly in the till and access to all the trading traffic. No one calls them on temporarily counterfeiting shares.

Counterfeit Shares Example

http://www.allbusiness.com/legal/legal-services-litigation/5533387-1.html
Date: Tuesday, August 31 2004

LAS VEGAS -- A lawsuit filed in Las Vegas County Court today by a major stockholder in NanoSignal Corporation (OTC:NNOS) alleges that a group of major Wall Street institutions has systematically damaged the market for the stock of NNOS and many other companies by flooding the market with fraudulently manufactured, virtually counterfeit shares.

By mis-using its "Stock Borrow Program" for the personal profit of its members, rather than the purposes for which it was originally established in 1981, New York's Depository Trust Company (DTC) has created artificial shares in NNOS and other publicly-traded companies, the lawsuit (Case No. A491236) filed by Las Vegas resident Gary W. Walters claims.

One defendant in the lawsuit, Jersey City-based stockbroker Knight Trading Group, Inc. is presently "short" 447 million shares of NNOS, Mr. Walters' lawsuit alleges. That's more than double the number of NNOS legitimately issued and outstanding shares. This is only possible because DTC and its National Securities Clearing Corporation subsidiary (NSCC) have created hundreds of millions of "counterfeit" electronic shares that don't actually exist, Walters says.

http://arch0708.goldtent.net/2007/12/05/counterfeiting-stocks-naked-shorting-the-whole-sordid-truth-revealed/

I am still checking it out EuroCCP :

http://investing.businessweek.com/research/stocks/private/person.asp?personId=39107072

Diana Chan    
Chief Executive Officer of EuroCCP, The Depository Trust & Clearing Corporation

BACKGROUND
Diana Chan has been Chief Executive Officer of European Central Counterparty Ltd. (EuroCCP), a subsidiary of The Depository Trust & Clearing Corporation since November 2007.

Ms. Chan served with Citi in London as Managing Director for Market Strategy, Global Transaction Services EMEA (Europe, Middle East and Africa) and global head of Market Policy for Securities and Fund Services since 2005.
She served with Citi in Paris as Managing Director for Direct Custody and Clearing, ... in New York as global product manager for Securities Services, Broker Dealers and Emerging Markets, and in Singapore as regional product management head, Securities Services, Asia. Prior to joining Citi,
Ms. Chan served for JP Morgan and Bank of New York in Singapore and New York, as well as with Euroclear (then part of JP Morgan) in Brussels, from 1982 to 1997. At Euroclear, she served as product manager for the U.K. and Asia, manager in Strategic Research, and head of Management Information and Profitability Analysis. From 1977 to 1979, she served as an account executive for Computer Processing Services Ltd., in Hong Kong.
She serves as Director of European Central Counterparty Ltd.
She is also a member of the European Commission's Clearing and Settlement Advisory and Monitoring Expert Group (CESAME), and the European Central Bank's TARGET2 Securities Advisory Group.
She has well-established relationships with senior management of the European Commission, the European Central Bank, FSA, Bank of England, HM Treasury and Committee of European Securities Regulators (CESR).
She is a graduate of the University of Hong Kong where she majored in social sciences. Ms. Chan earned a master's degree in business administration (M.B.A.) from Harvard Business School.

http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=33934079
...
European Central Counterparty Ltd. provides central counterparty (CCP) clearing and settlement services for equities traded on multilateral trading facilities and stock exchanges in Europe. It clears equity trades from issuers in Austria, Belgium, the Czech Republic, France, Denmark, Germany, Hungary, Ireland, Italy, Finland, the Netherlands, Norway, Portugal, the United Kingdom, Switzerland, Sweden, Spain, and the United States. The company also offers equities CCP services to firms trading on the NASDAQ OMX stock exchanges in Denmark, Finland, and Sweden; and central counterparty clearing of trades in the United States stocks and exchange-traded funds. In addition, it guarantees trading fi...

European Central Counterparty Ltd. provides central counterparty (CCP) clearing and settlement services for equities traded on multilateral trading facilities and stock exchanges in Europe.

It clears equity trades from issuers in Austria, Belgium, the Czech Republic, France, Denmark, Germany, Hungary, Ireland, Italy, Finland, the Netherlands, Norway, Portugal, the United Kingdom, Switzerland, Sweden, Spain, and the United States.

The company also offers equities CCP services to firms trading on the NASDAQ OMX stock exchanges in Denmark, Finland, and Sweden; and central counterparty clearing of trades in the United States stocks and exchange-traded funds.

In addition, it guarantees trading firms that the trades are settled at the price agreed at execution even if one party to the trade is unable to honor its settlement obligations; and reduces settlement obligations for trading firms into a single net receipt or delivery per day for each security traded. Further, the company through cross-platform netting enables various trades in the same security executed by a trading firm are netted into a single settlement obligation and a single margin requirement.

Its CCP services eliminate counterparty risks for trading firms.

The company was founded in 2001 and is based in London, the United Kingdom. European Central Counterparty Ltd. operates as a subsidiary of Depository Trust & Clearing Corporation.

http://www.marketskeptics.com/2010/04/europe-becoming-of-focus-of-dtccs.html
Market Watch reports that EuroCCP Launches Clearing Service for US Equity Issues.  - April 27, 2010

EuroCCP is the first European equities central counterparty (CCP) clearing US securities and settling them directly in the central securities depository in their home market of issue, The Depository Trust Company (DTC). ...

Oh and Dark Pool trading is mostly done in EUROPE/(GERMANY)....

Dark Pool Trading - Goldman Sachs Rules - Laundering process
http://www.theaustralian.news.com.au/business/story/0,28124,26242642-36418,00.html
Watchdog to reduce dark pool trading October 22, 2009

THE US Securities and Exchange Commission will propose toughening its limits on the amount of anonymous trading carried out on stock platforms called dark pools.

The commission will propose lowering the amount of daily volume in a company's shares that can be executed on the networks before prices must be made public to 0.25per cent, from 5 per cent, according to sources.

The rule change may curtail the number of transactions on dark pools, off-exchange platforms run by firms such as Goldman Sachs Group and Getco that have drawn scrutiny from Democratic Senators Ted Kaufman of Delaware and Charles Schumer of New York.

The systems usually shut down trading in a security when they approach the current 5 per cent limit.

"If you were to limit the dark pools to that small amount of trading, it will be much harder to find a counterparty," said Dirk Hoffmann-Becking, a London-based analyst for Sanford C. Bernstein&Co.

For stock exchanges, "if they would see less competition from the dark pool world, that would certainly be a positive for them".
...
Senator Schumer, who held a press briefing with NYSE Euronext chief executive officer Duncan Niederauer yesterday, also wants the SEC to establish a "robust" approval process for new dark pools and treat some so-called indications of interest as formal bids. Brokers use indications of interest to demonstrate their willingness to trade shares.

Senator Schumer said they could be abused because they allowed traders to gauge demand without the obligation to buy or sell.

"We're not against dark pools," Mr Niederauer said. "The NYSE just wants a more level playing field.".

Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline xopatriot

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #14 on: February 13, 2011, 11:20:46 PM »
The same thing they did to Argentina is being done to us. The exact same thing. This is one ugly ride to the bottom!
Even though I walk through the valley of the shadow of death, I will fear no evil, for you are with me; your rod and your staff, they comfort me.

You prepare a table before me in the presence of my enemies. You anoint my head with oil;  my cup overflows.

Offline citizenx

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #15 on: February 14, 2011, 01:48:22 AM »
This economic integration reallly portends a move toward politcal integration between Europe and America (meaing the whole of North America).  That is waht is coming down the pike next, IMO, "slouching toward Bethlehem to be born".

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #16 on: February 14, 2011, 12:28:43 PM »
Another aspect to this is the whole "selling of America" thing...

the Nyse just went public 4 years ago and now they want to merge? Was there a whole painting of the pig here??

Related timing wise was the going public of VISA - V

http://www.pbs.org/nbr/site/onair/transcripts/060308a/
The NYSE Goes Public Wednesday, March 08, 2006
SUSIE GHARIB: One of the hottest stocks on the New York Stock Exchange today was -- the New York Stock Exchange. The big board went public this morning with a very successful debut. Shares of NYX closed up $15.75 to $80 even. That was a gain of almost 25 percent. Still, as Scott Gurvey explains, not everyone thinks the big board is worth such a big price.

JOHN THAIN, CEO, NYSE GROUP: If you`re going to own exchanges, the New York Stock Exchange is by far the largest market in the world. We have a great brand name. We have a great franchise. We really are the leader in not only the U.S. financial markets, but really the world.


Yahoo - NYX stock
stock price: 12:06PM EST: 37.74   0.58 (1.50%)

Then there is Jim Cramer's early OBSESSION with NYX and I am sure lost many people money...

http://www.stocktagger.com/2007/07/jim-cramer-track-record-on-nyse.html
NYSE Euronext (NYX) has been a debacle for Mad Money viewers ever since Jim Cramer named it his growth stock of the year for 2007 on January 4th in front of second place Apple (AAPL) and third place Cisco Systems (CSCO).
...
http://www.usatoday.com/money/books/2007-11-11-grasso-book_N.htm
Grasso tells his side of NYSE story, and it's not pretty - 11/11/2007
Four years after being ousted as chairman and CEO of the New York Stock Exchange because of a dispute over how much he was paid, Dick Grasso finally gets to tell his side of the story.
...
For those who don't recall the events of September 2003, Grasso was forced to resign after the NYSE (NYX) revealed he would receive a one-time pay package of more than $187 million.



Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline citizenx

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #17 on: February 14, 2011, 03:51:52 PM »
Notice how it went public just be fore the big crash.  The owners of it before that were probably clued in.  (Well, many of us with eyes and brains were.)

But, yes, ot could have been with an eye to merge it eventually.  Good point.

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #18 on: February 14, 2011, 04:49:56 PM »
Notice how it went public just before the big crash.  The owners of it before that were probably clued in.  (Well, many of us with eyes and brains were.)  But, yes, ot could have been with an eye to merge it eventually.  Good point.

Exactly - They cashed out a private institution - (same with Visa) on the High side before the crash.

 
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #19 on: February 14, 2011, 07:45:31 PM »
If these exchanges are so worthless - why is anyone buying them????
Oh that's right - It's GLOBAL Economic Fascism

Hitler 1940 - France surrenders to Nazi Germany
( Germany takes control over the Paris exchange... )

http://www.cnbc.com/id/41589021/
What You Need to Know About NYSE Merger
...
1. It's not so much about cash equities, it's about derivatives—options and futures. ...

2. The combined company would be a derivatives powerhouse

Which gets us back to:  ***Derivatives as a method of counterfeiting and destruction of the currency  
...
4. Political risk is real, on both sides of the Atlantic. The facts are simple: U.S. regulators should approve the deal because the NYSE Euronext [NYX  39.45    1.14  (+2.98%)   ] is already substantially owned by foreign interests. And the regulatory structure will remain intact. The part of the business done in the U.S. will remain under the control of U.S. regulators.

http://www.reuters.com/article/2007/01/10/us-nyse-indiaexchange-idUSWEN201920070110
NEW DELHI | Wed Jan 10, 2007 5:57am EST

NYSE Group Inc. (NYX.N) and three other foreign investors have bought a 20 percent stake in India's biggest stock exchange in the latest move in a wave of consolidation sweeping global exchanges.
...
The operator of the New York Stock Exchange, investment bank Goldman Sachs & Co. (GS.N), private equity firm General Atlantic and SoftBank Asian Infrastructure Fund have each bought a 5 percent stake in the National Stock Exchange (NSE) -- the maximum holding permissible -- in a deal valued at $460 million, the NSE said on Wednesday.

http://www.investopedia.com/terms/p/paris-stock-exchange-par-.p.asp
Investopedia explains Paris Stock Exchange (PAR) .PA
The NYX is the first European integrated stock exchange. It was created in 2000 when the Paris, Brussels and Amsterdam exchanges all merged. It employs the NSC system for trading and uses LCH Clearnet to clear its transactions.

Which gets us back to:  
Dark Pool Trading - Goldman Sachs Rules - Laundering process  


http://www.euronext.com/news/press_release/press_release-1731-EN.html?docid=795900
SmartPool expands trading community through deployment of NYSE Euronext leading technology  (26/11/09)  
 
Amsterdam, Brussels, Lisbon, London, Paris, 26 November 2009 – SmartPool, the European dark liquidity pool created by NYSE Euronext in partnership with HSBC, J.P.Morgan and BNP Paribas, today announced its successful migration to NYSE Euronext’s next-generation Universal Trading Platform.  

The Universal Trading Platform is a multi-market, multi-geography and multi-regulation exchange platform that has been developed to provide customers with greater speed and capacity, enhanced functionality, and a single point of connectivity via NYSE Euronext’s global network to access all of its cash and derivatives markets, in Europe and the US.
...
“SmartPool’s migration to the Universal Trading Platform is a key step in the development of our value proposition to attract the largest and most diverse dark pool trading community in Europe.  SmartPool can now access a Europe wide client distribution network of over 220 firms and build a non-homogeneous trading community to differentiate SmartPool in a way which our rivals will find hard to replicate. ”
...

http://www.tradeonsmartpool.com/
SmartPool reports six consecutive quarters of growth - 5 October 2010
Lee Hodgkinson, SmartPool CEO commented, "Six consecutive quarters of growth, in challenging market conditions is proof of the power of the SmartPool offering. ."

http://www.tradeonsmartpool.com/Assets/Documents/2June103rdlargestdarkpool.pdf?1275479822
NYSE SmartPool becomes 3rd largest dark pool · overtakes BATS Europe and Liquidnet -  2 June 2010

http://www.euronext.com/news/press_release/press_release-1731-EN.html?docid=761804
From September 2009 the SmartPool product universe will be expanded to include all constituents of the following five mid-capitalisation indices:

FTSE 250 (UK) FTSE Italia Mid Cap (Italy) Mid cap constituents of the Dow Jones STOXX 600 MDAX (Germany) SMIM (Switzerland)
Trades in these securities will be cleared via LCH.Clearnet for Euronext listed stocks and EuroCCP for all other European markets.

Diana Chan, CEO of EuroCCP, said:  “EuroCCP supports the expansion of SmartPool into this market segment. The use of EuroCCP clearing services further extends benefits of netting across Europe for SmartPool members, whilst providing strong risk mitigation in these less-liquid securities.”

| - - - -  -
http://spitfirelist.com/for-the-record/ftr-671-update-on-the-meltdown-part-4-germany-the-underground-reich-and-the-global-financial-crisis/
FTR #671 Update on the Meltdown, Part 4: Germany, the Underground Reich and the Global Financial Crisis

The pro­gram begins with an arti­cle not­ing Ger­man fore­shad­ow­ing of the present global finan­cial cri­sis more than 60 years ago. In a 1950 Cir­cu­lar Let­ter, Under­ground Reich func­tionar­ies noted that a U.S. eco­nomic col­lapse would open up great oppor­tu­ni­ties for a “new world order,” led by a newly ascen­dant Ger­many.
...
jour­nal­ist Dorothy Thompson’s 1940 account of Germany’s plans for a Nazi-controlled U.S. fea­tur­ing liaisons with key U.S. indus­trial fig­ures, the broad­cast reviews the Nazis 1944 plan­ning for the post­war, includ­ing their high regard for Bush family-controlled busi­nesses.

Of par­tic­u­lar inter­est for read­ers of this descrip­tion is an arti­cle not included in the orig­i­nal pro­gram. A recent Daily Mail story chron­i­cles the August 10, 1944 meet­ing at which Third Reich indus­tri­al­ists and SS offi­cers set forth the Nazi plans to go under­ground and per­pet­u­ate their empire through eco­nomic, not mil­i­tary, dom­i­nance. Not­ing the polit­i­cal con­ti­nu­ity between the Third Reich and the “new” Fed­eral Repub­lic, the arti­cle sup­ple­ments For The Record’s analy­sis that the EMU and the EU are the actual real­iza­tion of the Third Reich’s post­war con­tin­gency planning.

The pro­gram con­cludes by not­ing the role that key per­son­nel from major Ger­man cor­po­ra­tions played in advo­cat­ing the bailout pro­grams that the Obama admin­is­tra­tion has imple­mented. This should be under­stood in the con­text of the Bor­mann cap­i­tal network’s con­trol of cor­po­rate Ger­many. Sig­nif­i­cantly, many of AIG’s bailout pay­ments went to finan­cial insti­tu­tions con­trolled by the Under­ground Reich and the Bor­mann network.

Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline citizenx

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #20 on: February 15, 2011, 12:28:43 AM »
See, one thing, though.

You are focusing on the act of buying rather than the act of selling.

Otherwise, Tahoe, I agree with much that your are saying.

Maybe, the sellers know something the buyers don't.

Could it be that this sale portends another downturn as well?

Could that be the bigger picture again?

Just a thought.

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #21 on: February 15, 2011, 02:30:59 PM »
How about a GLOBAL FLASH CRASH???? That would be fun.. huh?

http://www.thestreet.com/story/11008733/2/deutsche-brse-and-nyse-announce-merger.html#
NYSE CEO Duncan Niederauer said on CNBC, "I don't know what people are nervous about -- it's a global company."
...
The combined market value of the two entities is $25.5 billion, creating one of the world's largest exchange operators and a leader in derivatives trading and risk management.
...
According to the Financial Times, the new entity will have more than 90% market share in European derivatives.

Some of the world's biggest banks have been concerned that the combined entities would have too much market power, according to FT. "In the early stages, this deal doesn't appear to have great benefits to broker-dealers," a broker at a large Wall Street bank said, according to FT.

The group will have dual headquarters, in Deutsche Boerse's newly built green tower near Frankfurt and in New York, at 11 Wall St.

http://www.thestreet.com/story/11008093/1/banks-fret-over-nyse-german-hookup.html#
...
Fears of a German take­over have in part been assuaged after it was decided that Duncan Niederauer, chief executive of NYSE Euronext, will run the new group.
...
In addition US-based shareholders will have 63 per cent of the combined entity, according to data from Thomson Reuters. Only 11 per cent of the shares would be held in Germany, along with 10 per cent in the UK.
...
As well as Mr Niederauer, NYSE will be represented by Larry Leibowitz, who is currently chief operating office

I wonder if his bro., Jon Stewart will have anything to say....

http://en.wikipedia.org/wiki/Jon_Stewart
Stewart was born into a Jewish family in New York City. He and his older brother, Larry Leibowitz (presently Chief Operating Officer of the New York Stock Exchange),[12][13] grew up in Lawrenceville, New Jersey

http://nymag.com/daily/intel/2010/05/jon_stewarts_unfunny_brother_i.html
Jon Stewart’s Unfunny Brother Is Testifying About the ‘Flash Crash’ Right Now


Watching Larry Leibowitz, the COO of NYSE Euronext and brother of the Daily Show host, droning on to the House Financial Services Committee about regulators' need for better circuit breakers to monitor high-frequency trading so that we can avoid a repeat   of the Flash Crash that occurred on May 6, is triggering the exact same feeling we got when we first saw Billy Crystal in Mr. Saturday Night. No! Say something funny!

Notice - Not one mention of a Rothschild:
Amschel Mayor James Rothschild - obit 1996

Rothschild committed suicide in July 1996. He was found hanged at the Hotel Bristol in Paris. The suicide came hours after a meeting, during which plans were discussed for a massive merger of asset management companies. His death was originally reported as being due to a heart attack.

http://www.newsdaily.com/stories/tre7195lh-us-dboerse-nyse-traders/
...
The proposed deal also recalls a long history of German investment in New York City and on Wall Street, experts said.

"Wall Street for well over 100 years has had prominent German-Jewish bankers operating here," said Richard Sylla, a financial historian at New York University's Stern School of Business.

"I wouldn't really regard it as a German takeover of America's biggest stock exchange," Sylla said. "I would guess if there's any cultural effect it'll be the Americans will influence Germany more than the other way around."

Some of Wall Street's most famous titans were also of German heritage, Sylla said. They have included German-born Paul Warburg, who was nominated to the New York Federal Reserve's first board in 1918, and the founders of Goldman Sachs and Lehman Brothers, Marcus Goldman and Henry Lehman.

"This German influence has been strong on Wall Street for a long time," Sylla said.

But some previous German deals have rattled the Americans.

In a takeover finalized in 1999, Deutsche Bank bought New York-based Bankers Trust Corp. for about $10 billion, then the biggest foreign takeover of an American bank.

 ‘The Bankers Trust guys haven’t yet realized that we took them over. They swaggered in thinking it was a reverse takeover, and that they’d continue to run the show from New York. That isn’t how it works. Frankfurt is in charge.’”



At the time, New York officials called on regulators to investigate if Deutsche Bank had profited under the Nazi regime. Similar calls were made when Daimler-Benz ate up Chrysler in 1998.

http://www.rothschild.de/investmentbanking/ibcred.asp?id=de-ib-manda
rothschild.de
Mergers and Acquisitions
Rothschild boasts one of the strongest, most successful M&A teams worldwide and offers its clients at all times definitive sector know-how and top-notch advice, wherever they may be. In each of the last four years, Rothschild was adviser on more transactions in Europe than any other financial advisory bank.

In Germany, Rothschild is likewise one of the leading M&A advisers. Thanks to our unique business model, which rests firmly on independent advice free from conflicts of interest, as well as our well-founded sector expertise, Rothschild discerns excellent opportunities for further growth in the German M&A market

http://www.rothschild.com/investmentbanking/ibcred.asp?id=ib-manda&sharedawards=no
Global reach, local knowledge

More advisory bankers than any of our competitors, with a total of 940 globally
47 offices globally in 34 countries
Integrated corporate finance advice
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #22 on: February 16, 2011, 12:54:58 PM »
Related: realaudio/ mp3 audio...

FTR #671 Update on the Meltdown, Part 4: Germany, the Underground Reich and the Global Financial Crisis
May 26, 2009


The pro­gram begins with an arti­cle not­ing Ger­man fore­shad­ow­ing of the present global finan­cial cri­sis more than 60 years ago. In a 1950 Cir­cu­lar Let­ter, Under­ground Reich func­tionar­ies noted that a U.S. eco­nomic col­lapse would open up great oppor­tu­ni­ties for a “new world order,” led by a newly ascen­dant Ger­many.
...
jour­nal­ist Dorothy Thompson’s 1940 account of Germany’s plans for a Nazi-controlled U.S. fea­tur­ing liaisons with key U.S. indus­trial fig­ures, the broad­cast reviews the Nazis 1944 plan­ning for the post­war, includ­ing their high regard for Bush family-controlled busi­nesses.

Of par­tic­u­lar inter­est for read­ers of this descrip­tion is an arti­cle not included in the orig­i­nal pro­gram. A recent Daily Mail story chron­i­cles the August 10, 1944 meet­ing at which Third Reich indus­tri­al­ists and SS offi­cers set forth the Nazi plans to go under­ground and per­pet­u­ate their empire through eco­nomic, not mil­i­tary, dom­i­nance. Not­ing the polit­i­cal con­ti­nu­ity between the Third Reich and the “new” Fed­eral Repub­lic, the arti­cle sup­ple­ments For The Record’s analy­sis that the EMU and the EU are the actual real­iza­tion of the Third Reich’s post­war con­tin­gency planning.

The pro­gram con­cludes by not­ing the role that key per­son­nel from major Ger­man cor­po­ra­tions played in advo­cat­ing the bailout pro­grams that the Obama admin­is­tra­tion has imple­mented. This should be under­stood in the con­text of the Bor­mann cap­i­tal network’s con­trol of cor­po­rate Ger­many. Sig­nif­i­cantly, many of AIG’s bailout pay­ments went to finan­cial insti­tu­tions con­trolled by the Under­ground Reich and the Bor­mann network.

related - see also:  
FTR #412 The Engineer Intends To Wreck The Train - June 24, 2003

Intro­duc­tion: FTR#412 doc­u­ments a fright­en­ing polit­i­cal and eco­nomic sce­nario involv­ing an impend­ing fis­cal cat­a­stro­phe for the United States that, in turn, por­tends a dev­as­tat­ing polit­i­cal cri­sis.

related:

Bloody Monday: Over 71,400 jobs lost - January 26, 2009  -  Finance crisis claims another 85,000 jobs - NEW YORK (AFP) — At least 85,000 new job cuts were announced in a single day Monday as the rampant financial crisis hit more workers across the globe ... In a sign of the deepening social impact of the crisis, companies announced an avalanche of cuts, piling pressure on US President Barack Obama as he pushes a stimulus plan for the world's biggest economy.

The job cuts came from some of the biggest US corporate names including Pfizer, General Motors, Caterpiller and Sprint Nextel, and news of additional downsizing came from Japanese automakers and Dutch bank ING.


related:

Siemens Hit With $1.6 Billion Fine In Bribery Case  
by Ari Shapiro December 16, 2008

The German engineering giant Siemens will pay a record fine of $1.6 billion dollars to settle bribery allegations made by U.S. and European authorities. The company was charged with paying out more than a billion dollars in bribes to win contracts around the world.


related:  AIG’s bailout pay­ments to Deutsche Bank

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/15/AR2009031501909.html
AIG Discloses $75 Billion in Bailout Payments
Insurer Reveals List of Taxpayer Funds Doled Out to Settle Debts With Companies - Monday, March 16, 2009
...
The funds were paid from the government's initial $85 billion emergency loan in September and included major firms such as Goldman Sachs, Societe Generale, Deutsche Bank, Merrill Lynch, Morgan Stanley, Bank of America and Barclays

... Fed Chairman Ben S. Bernanke .  "I understand why the American people are angry," he said

http://www.earthtimes.org/articles/news/363017,bailout-shares-summary.html#

Washington - The mammoth AIG stock sale by the US government will be handled by four banks, including Deutsche Bank AG, according to a decision by the American International Group Inc and the US Treasury. - Wed, 19 Jan 2011

People familiar with the decision shared the list of banks with The Wall Street Journal and The New York Times on Tuesday.

The other banks are US-based: JP Morgan Chase & Co, Goldman Sachs Group Inc and Bank of America Corp.

The US Treasury Department now owns about 92.1 per cent of the mammoth insurance firm bailed out with 183 billion taxpayer dollars in 2008, in the midst of the financial crisis. All told, the US government owns about 68 billion dollars of liquid interest in AIG after a complicated recapitalization agreement sealed last week.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #23 on: February 16, 2011, 01:13:03 PM »
See, one thing, though. You are focusing on the act of buying rather than the act of selling. Otherwise, Tahoe, I agree with much that your are saying. Maybe, the sellers know something the buyers don't. Could it be that this sale portends another downturn as well? Could that be the bigger picture again?  Just a thought.

Economic Warfare? Oh Yes!

Absolutely! This is an agregation of capital and ownership into fewer and fewer hands, hands that WE WILL NOT EVEN KNOW WHO THEY ARE! No boogie men to point our fingers at!

This is about control and AS THE U.S. IS DE-CAPITALIZED, WHERE WILL THAT CAPITAL GO AND WHO WILL CONTROL IT?....
It's not just de-industrialization! In 1969, Rockefeller Official Said US Would Be De-industrialized

IT is already happening:
http://solari.com/blog/
Decapitalizing Housing
Catherine Fitts and News & Commentary,February 15, 2011 at 10:02 pm

Capital is slowly withdrawing from the American housing stock.

We are transitioning from a model in which most Americans think of their homes as an investment, to one in which housing is a consumptive good. There is lots of news and most of it is bad for housing.

Quote
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/02/10/BUG11HKV85.DTL&type=business
The combined organization would be home to publicly traded companies worth about $15 trillion, or 28 percent of global stock-market value, according to data compiled by Bloomberg.
...
The advisers
Deutsche Bank AG and JPMorgan Chase & Co. are advising Deutsche Boerse, and Perella Weinberg Partners LP is helping NYSE Euronext, according to two people familiar with the matter. Wachtell, Lipton, Rosen & Katz is representing NYSE, and Linklaters LLP is working with Deutsche Boerse, the people said.

http://en.wikipedia.org/wiki/Perella_weinberg
Perella Weinberg Partners is headquartered in New York with offices in London, Abu Dhabi, Austin, Denver, and San Francisco.
...
2006 - Perella Weinberg Partners established an Advisory Council.

The Advisory Council is chaired by William H. Donaldson[3][4] former Chairman of the Securities and Exchange Commission. Its other members include Philippe Citerne, former Deputy Chief Executive Officer of Société Générale; Ibrahim Dabdoub, CEO of the National Bank of Kuwait; William Hambrecht, co-founder of the firm Hambrecht & Quist; Walter Isaacson, President and CEO of the Aspen Institute; and Daniel Yergin, Chairman of IHS Cambridge Energy Research Associates.... Together, Perella Weinberg’s Partners, its founding investors and its Advisory Council, constitute an extensive network of global relationships, which the firm utilizes to the benefit of its clients.

As the Giants of Wall Street Topple, Smaller, Nimbler Rivals Move In -  September 22, 2008  - “This environment is a perfect pitch for the business model,” said Peter A. Weinberg, a partner at Perella Weinberg Partners and a former Goldman investment banker. “In times of stress independence is really prized.”  

http://en.wikipedia.org/wiki/Peter_Weinberg
Peter Weinberg is an Anglo-American businessman. He was formerly CEO at Goldman Sachs International, the bank's European arm, until January 2005.

Weinberg was educated at Claremont McKenna College, California, and received his MBA from Harvard in 1983. His grandfather, Sidney Weinberg, was senior partner at Goldman Sachs from 1930 to 1969, while his uncle, John L. Weinberg, was co-senior partner from 1974 to 84, and sole senior partner till 1990.


Panel: State of the State of Wall Street: Creating Opportunity Out of Chaos

http://blog.jirirezac.com/2007_06_01_archive.html
16 June 2007 Movers & Shakers
 
Joe Perella and Peter Weinberg - two names whose reputation travels ahead of them in the business world descended on London one late night at the Four Seasons Hotel. I was called last-minute to produce a portrait of the two dealmakers who brokered mergers of the magnitude such as AOL-Time Warner and Reuters-Thomson. The whole encounter lasted the usual few minutes, but the result is good. See below


http://dealbreaker.com/2006/06/and-perella-weinberg-it-is/
14 Jun 2006 Perella Weinberg
And Perella Weinberg It Is  By John Carney

This morning we reported that the internet domain name PerellaWeinberg.Com had been anonymously reserved, indicating that this might be the name of Joseph Perella’s new investment banking boutique (although we noted it was also possible that a third-party had reserved the name).

The Weinberg half of the firm’s name derives from Peter Weinberg (pictured left), the former Goldman Sachs International’s CEO. Weinberg is almost a third-generation Goldman guy. Both his uncle and his grandfather held the top spot at Goldman. He joined Goldman in 1988, after working at Morgan Stanley for several years.

http://en.wikipedia.org/wiki/William_H._Donaldson
William H. Donaldson

William Henry Donaldson (born June 2, 1931 in Buffalo, New York, USA) was the 27th Chairman of the U.S. Securities and Exchange Commission (SEC), serving from February 2003 to June 2005. He served as Under Secretary of State for International Security Affairs in the Nixon Administration, as a special adviser to Vice President Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange, and Chairman, President and CEO of Aetna. Donaldson founded Donaldson, Lufkin & Jenrette.

Donaldson attended both Yale University (B.A. 1953) and Harvard University (M.B.A. 1958).While he was a senior at Yale, he joined its Skull and Bones secret society.[1][2]

He - William Henry Donaldson  began his career at G.H. Walker & Co.. [3]

http://en.wikipedia.org/wiki/G._H._Walker_%26_Co.
G.H. Walker & Co. was an investment banking and brokerage firm founded in 1900 by George Herbert Walker, grandfather and great-grandfather of Presidents George Herbert Walker Bush and George Walker Bush, and located at 1 Wall Street. ...
Other notable former employees include Bill Donaldson, later founder of Donaldson, Lufkin & Jenrette and chairman of the Securities and Exchange Commission

http://www.whitehouse.gov/administration/eop/perab/members/donaldson
perab - Presidents Economic Recovery Advisory Board~~~!!!!

The President’s Economic Recovery Advisory Board (PERAB) was established by President Obama to ensure the availability of independent, nonpartisan information, analysis, and advice as he formulates and implements his plans for economic recovery and enhancing the strength and competitiveness of the Nation’s economy.  The members of the PERAB were appointed by the President from among distinguished citizens outside the Government who are qualified on the basis of achievement, experience, and independence.  The overall membership of the PERAB reflects a diverse set of perspectives from across the country and various sectors of the economy.

Prior to heading the SEC, Mr. Donaldson was Chairman, President and Chief Executive Officer of Aetna, Inc. one of the nation’s largest providers of health insurance and related benefits, and before that he served as Chairman and Chief Executive of the New York Stock Exchange.  

Earlier in his career, he was the Co-Founder, Chairman and Chief Executive Officer of the investment banking firm of Donaldson, Lufkin & Jenrette (DLJ) and helped found its wholly owned subsidiary the Alliance Capital Management Corporation.  He was selected as Business Man of the Year by the Associated Press when DLJ became the first NYSE firm to sell its shares to the public.

He left DLJ to accept a Presidential appointment as United States Undersecretary of State under Secretary Henry Kissinger and subsequently served as Counsel to the then Vice President of the United States, Nelson Rockefeller.

http://www.nyse.com/about/history/1173354276829.html


The two giants of the Cold War peace process, former President Reagan and former Soviet leader Mikhail Gorbachev, visit the NYSE to mark its bicentennial in 1992.
They are pictured with former NYSE Chairman and CEO, William H. Donaldson.



http://en.wikipedia.org/wiki/Trinity_Church,_New_York

Trinity Church (also known as Trinity Wall Street) at 79 Broadway, New York City, is a historic, full-service parish church in the Episcopal Diocese of New York. Trinity Church is located at the intersection of Wall Street and Broadway in downtown Manhattan.

It is the only active cemetery remaining in the borough of Manhattan. ... Trinity Church is one of the largest landowners in New York City.[7] However, for much of the first two hundred years, its claim on the land was contested in the courts, mainly by the descendants of a Dutchwoman, Anneke Jans Bogardus, who claimed original title to the land.[


Monument to Alexander Hamilton in Trinity Church Graveyard
Alexander Hamilton, William Bradford, Robert Fulton, and Albert Gallatin are four of the famous men buried in the Trinity Church graveyard
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #24 on: February 17, 2011, 02:19:27 PM »
http://solari.com/blog/ Decapitalizing Housing
Catherine Austin Fitts on AJ today talking about the German takover of the NYSE/ Euronext
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #25 on: February 17, 2011, 03:10:15 PM »
Skum er' cream rises to the top....

Quote
The advisers Deutsche Bank AG and JPMorgan Chase & Co. are advising Deutsche Boerse, and Perella Weinberg Partners LP is helping NYSE Euronext, according to two people familiar with the matter. Wachtell, Lipton, Rosen & Katz is representing NYSE, and Linklaters LLP is working with Deutsche Boerse, the people said.

Wachtell, Lipton, Rosen & Katz  - The firm is known for its skill in mergers and acquisitions. One of the founding partners, Martin Lipton invented the so-called "poison pill defense" during the 1980s to foil hostile takeovers. Working both sides of the mergers and acquisitions game, Wachtell Lipton has represented blue-chip clients like AT&T, Kraft, and JP Morgan Chase.

Larry A. Silverstein to be Honored by the Museum of Jewish Heritage

Museum Trustee Larry A. Silverstein will be honored by the Museum of Jewish Heritage - A Living Memorial to the Holocaust at its 13th Annual Heritage Dinner on Monday, May 18, 2009 at 6:30 p.m.  The Co-chairs of this year's dinner are Bernard W. Nussbaum, Wachtell,

Lipton, Rosen and Katz;

and John E. Zuccotti, Co-chairman, Brookfield Properties Corporation. The evening will feature Dan Rather as Master of Ceremonies and a performance by virtuoso violinist Gil Shaham. ....

http://911research.wtc7.net/mirrors/guardian2/september-eleven/insurance-scam.htm
Insurers Debate: One Accident or Two?
...
The conversations were between the brokers and Silverstein attorneys Wachtell, Lipton, Rosen & Katz. Insurance company attorneys claim the conversations will include evidence that Willis employees considered the destruction of the twin towers a single event. Silverstein has argued from the outset that the attacks were two occurrences, a claim that, if successful, would double the amount of insurance payments he receives, to $7.1 billion
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #26 on: February 18, 2011, 02:54:00 PM »
How about a GLOBAL FLASH CRASH?

Quote
Watching Larry Leibowitz, the COO of NYSE Euronext and brother of the Daily Show host, droning on to the House Financial Services Committee about regulators' need for better circuit breakers to monitor high-frequency trading so that we can avoid a repeat   of the Flash Crash that occurred on May 6, is triggering the exact same feeling we got when we first saw Billy Crystal in Mr. Saturday Night. No! Say something funny!


I find it very interesting that in just the last few days the "Flash Crash" has been getting back in the news.

Do the PTB actually read this thread????  Cramer was on TODAY poo-pooing the Flash Crash.
Yesterday I saw another reference (that I am looking for) to the Flash Crash.....

This is NOT the May anny either....

http://www.cnbc.com/id/37730807/Cramer_Nothing_Fixed_Yet_Since_Flash_Crash
Cramer: ‘Nothing Fixed’ Yet Since Flash Crash - 16 Jun 2010

http://www.fiercefinanceit.com/story/senators-poke-sec-cftc-flash-crash-report/2010-12-11
Senators poke at SEC, CFTC for Flash Crash report December 11, 2010

"It took the CFTC and SEC five months of intense work to figure out what happened over a few minutes on May 6," said Sen. Carl Levin at a recent hearing about the recently issued Flash Crash report. Other senators echoed that view. But these issues are complex, and perhaps five months isn't such a long time. What's of more concern is the fundamental conclusion. Some think the report missed the mark by not assigning more weight to the role of high-frequency traders

http://www.marketwatch.com/story/senators-chide-sec-cftc-on-flash-crash-response-2010-12-08?reflink=MW_news_stmp
WASHINGTON (MarketWatch) — Two U.S. senators on Wednesday raised concern about the length of time it took the securities and futures regulators to complete their report analyzing what happened on May 6 when a “flash crash” rattled the markets worldwide.
...
Schapiro said it would require some time to fully set up the system but maybe not as long as originally considered. She said the SEC originally proposed that it would cost about $4 billion and take about three to four years to develop an audit trail system. But she said after further investigation the SEC believes it can dramatically reduce the costs and timetable for implementation because of existing technology that can be used.

http://www.cnbc.com/id/41666792?par=RSS
More Money Needed to Prevent New Flash Crash: Gensler  18 Feb 2011 |
The "Flash Crash" that occured in May 2010, which caused the Dow  to drop as much as 998 points in a matter of minutes, was caused by a number of events, including economic news out of Europe, earlier that day, and "significant sell orders coming into the market and the liquidity was drying up very rapidly," Gary Gensler, chairman of U.S. Commodity Futures Trading Commission, told CNBC on Friday

Preventing another "Flash Crash" is dependent on the staff of the CFTC, SEC, and funding, he added.

"Without funding, I have less confidence and I don't know that we can do it. But properly funded in technology and people we do need to update our regulations to stay abreast of algorithmic and high-frequency trading," Gensler said.

[ there is no real market! :]
"90 percent of the market is electronic trading, and much of it is algorithmic and high-frequency trading."


Oh and here comes the Spin!!! Merger will prevent a flash crash.....
http://www.huffingtonpost.com/2011/02/18/mergers-loom-as-flash-cra_n_824994.html
Will NYSE's Merger Help Prevent Another 'Flash Crash'? 02-18-11

NEW YORK (By Jonathan Spicer) - The merger frenzy among the world's top exchanges could cast the U.S.-centric "flash crash" debate in a global light, as experts on Friday pitch some possibly radical changes meant to avoid another market breakdown.

A special committee is set to meet in Washington to make its long-awaited recommendations to regulators -- now more than nine months since the unprecedented market crash sent the Dow Jones industrial average down some 700 points before rebounding, all in a matter of minutes.

The May 6 crash rattled investors, exposed flaws in the structure of today's electronic markets, and set regulators on a mission to fix the high-speed system.
....
While the deals could strengthen the oversight of cross-border trading and boost the flow of global liquidity, they also tie the world's interconnected markets tighter together, possibly setting the stage for larger-scale crashes, some observers said.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Online TahoeBlue

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bump for bilderberg
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

Offline America2

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  • Romans 10:9-10 King James Version
Yep, the global consolidation is in progress, as planned. Just when one thinks, nah that won't ever happen, it does and is happening. People need to get their spiritual house in order asap.

The word conspiracy is mentioned TEN times in the bible - yah, if anyone thinks "conspiracy theories" come from "nutcases" like Oliver Stone, then honestly, I don't think they've read their bibles in the first place(it's existed since OT times).

Offline Rebelitarian

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The complete takeover of the market that controls the lives of over 100 million American citizens by bavarian elite?

I can hear crickets.

Aren't there a few New Yorkers who have been very concerned about a 4th Reich?

Hello...McFly....

No New Yorkers are already a bunch of know it alls.  They still think the service sector economy will save them.  Anyone who wears a suit in NY is a god.     ::)

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #30 on: August 28, 2011, 03:51:44 PM »

German Chancellor Angela Merkel  - France's President Nicolas Sarkozy - the Elysee Palace in Paris


http://www.businessweek.com/news/2011-08-04/deutsche-boerse-nyse-euronext-deal-faces-expanded-eu-probe.html
Deutsche Boerse, NYSE Euronext Deal Faces Expanded EU Probe
August 04, 2011, 3:03 PM EDT

Aug. 4 (Bloomberg) -- Deutsche Boerse AG faces an expanded probe by European Union regulators into “significant” concerns over how its $8.34 billion takeover of NYSE Euronext will effect competition in derivatives trading and clearing.

“The proposed merger would remove a strong competitor from the market and would give the merged company by far the leading position in derivatives trading in Europe,” EU Competition Commissioner Joaquin Almunia said in an e-mailed statement today. The European Commission set a new deadline of Dec. 13 to examine the deal.
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“Deutsche Boerse and NYSE Euronext remain confident that their planned combination will be approved,” the companies said in a joint statement following the EU announcement. A longer probe was “fully anticipated,” they said.
...
Cost Savings

Deutsche Boerse and NYSE Euronext forecast cost savings of 400 million euros ($565 million) when they announced the merger in February. The Association for Financial Markets in Europe, a group of banks and brokers including Switzerland’s UBS AG, Deutsche Bank AG and France’s BNP Paribas SA, told the EU it doubted the exchanges would pass on a “fair share” of those savings to customers.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #31 on: December 20, 2012, 01:59:54 PM »
http://www.guardian.co.uk/business/2012/dec/20/nyse-sold-8bn-intercontinentalexchange
New York Stock Exchange sold to derivatives company in $8bn takeover
20 December 2012

Sale of nearly 200-year-old institution to Intercontinental Exchange comes amid historic shift to electronic trading

The New York Stock Exchange called time on two centuries of independence on Thursday, agreeing to an $8.2bn takeover that will hand control of the icon of American capitalism to an Atlanta-based energy trader.

The stock exchange's holding company, NYSE Euronext, has agreed to an offer of $33.12 a share in cash and stock from IntercontinentalExchange (ICE). ICE was founded in 2000, NYSE in 1817. The combined company would have headquarters in both ICE's home of Atlanta and in New York.

The takeover comes amid a historic shift for Wall Street and stock exchanges around the world. The move to electronic trading, fierce competition between exchanges and the sharp decline in trading commissions has led to a wave of mergers and takeover offers that have failed amid regulatory concerns.
...

http://www.slavenorth.com/profits.htm
NORTHERN PROFITS from  SLAVERY

The effects of the New England slave trade were momentous. It was one of the foundations of New England's economic structure; it created a wealthy class of slave-trading merchants, while the profits derived from this commerce stimulated cultural development and philanthropy. --Lorenzo Johnston Greene, “The Negro in Colonial New England, 1620-1776,” p.319.

...
The first systematic venture from New England to Africa was undertaken in 1644 by an association of Boston traders, who sent three ships in quest of gold dust and black slaves. One vessel returned the following year with a cargo of wine, salt, sugar, and tobacco, which it had picked up in Barbados in exchange for slaves. But the other two ran into European warships off the African coast and barely escaped in one piece
...
A list of the leading slave merchants is almost identical with a list of the region's prominent families: the Fanueils, Royalls, and Cabots of Massachusetts; the Wantons, Browns, and Champlins of Rhode Island; the Whipples of New Hampshire; the Eastons of Connecticut; Willing & Morris of Philadelphia. To this day, it's difficult to find an old North institution of any antiquity that isn't tainted by slavery. Ezra Stiles imported slaves while president of Yale.

http://maap.columbia.edu/place/16
Tontine Coffeehouse

 Across from the Meal Market, where enslaved workers could be hired or bought, was the Tontine Coffee House, home of the New York Stock Exchange. Powerbrokers of the day met in a room there to buy, sell, and trade. As soon as a ship’s captain reached the harbor, this is where he came to register his cargo. The goods coming into New York in the 1790s included coffee, tea, sugar and molasses, fine furniture, cloth, cotton, and enslaved men, women, and children.

The companies that insured, outfitted, and owned the boats used to carry Africans from their homelands to enslavement often traded on the stock market.

The slave trade was big business and New Yorkers made huge profits from it long after slavery was made illegal in the state. The first and last New York slave trader to be executed was caught in April 1861, as the first shots of the Civil War were fired.

The New York Stock Exchange has roots that go back to a spring day in 1792, when a group of 24 men met outside 68 Wall Street in the shade of a huge sycamore tree that locals called a buttonwood. They set down the rules they would trade by and called it the Buttonwood Agreement. Later that year, trading moved into a room on the second floor of the Tontine Coffee House, where it remained until 1817. In the words of its president, it was a place “filled with underwriters, brokers, merchants, traders, and politicians; selling, purchasing, trafficking, or insuring; some reading, others eagerly inquiring the news…Everything was in motion; all was life, bustle and activity." It was also a place built on slavery.
Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5

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Re: RIP NYSE? - German Merge With Nyse, Toronto Exchange Merge With London
« Reply #32 on: December 21, 2012, 02:19:35 PM »
Do you think New York business has stopped enslaving people?

http://www.inmotionmagazine.com/opin/wlk_slavery.html
Review of
“New York and Slavery: Time To Teach the Truth”
by William Loren Katz New York, New York

As some southern legislatures, prodded by African American representatives, expressed regret over their states' role in slave trading and exploiting slave labor, a kind of “truth and reconciliation” movement has stirred educators. So far the focus has been on the southern states where African people were brutally exploited, their families sundered, resulting in a civil war and a nation wide system of racial inequality.

Now some educators who welcome this truth are claiming it omits the complicity of “the free North.” Prominent northern merchant, industrial and banking families built the ships, hired the captains and crews and financed the expeditions that snared millions of African men, women and children for forced labor in the Americas. Wealthy Northerners then used their profits to first fund the southern plantation system and then politically promote slaveholder goals.

Northern capital, ships and business acumen carried cotton, sugar, rice and other plantation crops to world markets, and produced the chains and whips needed by planters and overseers. “I hear the sound of the hammer, I see the smoke of furnaces where manacles and fetters are forged for human hands,” said Senator Daniel Webster. He was standing in Boston when he spoke.

In New York and Slavery: Time to Teach The Truth, Professor Alan Singer of Hofstra University tells how he and his classes stood in today's Wall Street and pointed to buildings where New York's early entrepreneurs reaped the profits of human bondage.

Northern slavery began after the Dutch occupation and enslaved Africans became vital to the city's economy. Africans put up the first buildings, brought in the first crops, turned an Indian path into Broadway, and built the wall at Wall Street.

In the British colony of New York its bankers and merchants so successfully invested in the international African trade they made it the slave-traders' leading port. After the Revolution, with the city leading the way, slavery and its profits grew in the land of the free. A greater percentage of white households in Brooklyn, Queens and Staten Island owned slaves than in South Carolina.

The world's first stock exchange opened in New York in 1792 and half of its 177 stockholders owned slaves. Africans were auctioned to bidders at Wall Street and other city markets. Forced labor made the Empire State.      

New York and Slavery summons a host of reliable witnesses. There is the calm, confident, talkative Captain James Smith, a chillingly unrepentant slave trader. Sitting in a city jail serving a two year sentence and $1,000 fine for violating the federal law against slave trading, Smith tells a reporter he is proud of himself and the other “good men in the business.”  Smith states:

New York is the chief port in the world for the Slave Trade. It is the greatest place in the universe for it. Neither in Cuba nor in the Brazils is it carried on so extensively. Ships that convey Slaves to the West Indies and South America are fitted out from New York . . . .  New York is our headquarters.

Smith's simple truth, substantiated by Singer's statistics and documentation, has yet to find its niche in our school social studies curricula, in teacher college courses, and on Regents examinations. If we are ever to understand the roots of our economic and racial problems, he warns us, schools have to confront these issues. But since Captain Smith's interview New York students, instructors, teacher colleges, public school classrooms have ignored or denied this knowledge.

New York and Slavery indicts a host of prominent New York mercantile and banking families and corporations such as Citicorp which first made its name in the slave trade. Slaveholder names currently grace our buildings, bridges, parks, streets, and schools. This, Singer shows, teaches our children to celebrate men who benefited from the African trade, southern slavery and bondage in New York.

...

William Loren Katz is the author of Black Indians and forty other history books. His website is    williamlkatz.com Published in In Motion Magazine October 13, 2008

Behold, happy is the man whom God correcteth: therefore despise not thou the chastening of the Almighty: For he maketh sore, and bindeth up: he woundeth, and his hands make whole ; He shall deliver thee in six troubles: yea, in seven there shall no evil touch thee. - Job 5