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L ' Ireland punish rescuers of banks

Ireland turn the page and it does so in a clear, precise and unambiguous. The Emerald Isle of imposing a sound drubbing to the parties Government, Fianna Fail and the Greens. The Irish rebelled against the ruling parties on the people who downloaded the disastrous choices of banks, but saved the public purse, and has accepted aid from the EU and the IMF at a very high price, a price that many are not absolutely sustainable. The Fianna Fail shoulder from 41% to 17% and saw its parliamentary representation reduced by two thirds. The Fianna Fail loses then the role of the first parts of the island, which he held since 1932, and goes to the opposition after 14 years of government. It should not be the best allies of the outgoing coalition, the Greens coming down 5-2% and lose all their seats in the Dail Eireann. We therefore affirm the opposition movements. The End Gael goes from 27 to 36% and its leader, Enda Kenny, is poised to become the next Taoiseach. The Labour equals the best result in its history, becoming the second largest party in the country with 19% of the vote, while Sinn Fein is also a great leap forward from 7 to 10%. Log in Dail Eireann, the formation of extreme left-wing "United Left Alliance and the number of independent Teachta Deal doubled compared to 2007. The Fine Gael and Labour are putting the final details of the future coalition, both the ruling party seek to renegotiate with the EU and IMF austerity plans. The Fine Gael in particular is opposed to tax increases under the outgoing government, which would serve to pay back taxes debts of the banks responsible for the financial crisis. Another painful chapter that Enda Kenny will face will be out-migration. The migration seemed to be a thing of the past in the past that ''800 saw many Irish, exhausted by famine, and take leave for the United States, but now the financial crisis has put in motion the mechanism and many facing a repeat of that escape from the island.

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Obama wants the Libyan oil

It all began on 11 September 2001, but the picture was dark. James Clapper, head of intelligence of Barak Hussein Obama, like other U.S. representatives to the first level, credits the terrorist Muslim Brotherhood as a secular organization, even stabilizing in the range of North Africa. Who wonders where we want to Barak Hussein Obama and the English department, has the response from Muslims whose hearts are a counterpoint to Barak, Hillary Clinton and Catherine Ashton, responsible, let alone foreign policy of the EU. The British, for their part, after the departure of Tony Blair, have intensified, with the Reuter in the head, the blandishments toward Tehran and Hamas, paying a lot of hostility to Israel and a lot of indifference. "Ben Ali go away," shouted the crowd clotted by the mullahs. "Ben Ali out of the way" counterpoint Obama, Clinton and Ashton, having softened the oligarchy that supported up to that moment Ben Ali, which, understood the hint, take away the trouble. "Mubarak go away," shouted the crowd clotted by the mullahs. "Mubarak out of the way" counterpoint Obama, Clinton and Ashton having softened the oligarchy that supported so far Mubarak, who understood the hint, it takes away the inconvenience. So evidence emerges, dirty and ugly as a patch of oil on the blue sea: the unholy alliance between some of fundamentalist Islam and Obama. Clapper, praising the Muslim Brotherhood. He did so even in the presence of U.S. congressmen, disrupted friendships reckless White House. Who made a pact with the devil. Are also trying to destabilize Algeria and Morocco's going wrong. The important however, is control of Tunisian and Egyptian borders with Libya to destabilize it. Admiral Michael Mullen has failed twice in ten days in the Mediterranean and also circulates in these parts, DC, a distinguished gentleman, gabellatosi for leaking the CIA, who heads a team of recruiters to contractors, mercenaries. Egypt and Tunisia to escape refugees mixed rabble? No problem for DC, indeed. He has a payroll a group of young Balkan Muslims, Afghans and Iraqis, from wherever you are "peace operations". DC at the service of veterans to new recruits from Egypt and Tunisia, which in turn Senussi agents, special forces attached to the British, with wide availability of weapons and trained. So arranged, the nuclei, apparently spontaneous mob, turn on the mixtures and ignite the crowd, firing on the most defenseless to trigger reactions furious action and pursuing "humanitarian" the international community. They did in Tirana, trying to destabilize Sali Berisha. It is not the first time they use these methods. Five in February 1994, international attention on the Bosnian conflict watertight. In Sarajevo, a covered market bomb kills 68 civilians and wounded is 200. The 'horror comes with live news. "We will not allow the strangulation of Sarajevo," said the husband of Hillary Clinton. It was discovered after the bomb was Muslim. How important he now? Half a million dead, among them, including quite a few Italian soldiers sent there on a mission of peace and love to go sick. What does it matter now? They forget that they do not fight the crowds at most s'aggregano if, for example from the minarets, somebody brings them together. As for combat, it is only those who are armed and trained. This slaughter, apparently began in late January in the central square in Cairo, aims to overthrow Gaddafi, hated by the British, which results in the possession of oil wells and the rising costs of strategic greggio.Scopo? Destabilize the Mediterranean and Europe with no time limit, was written by George Friedman, that China should only trade with the U.S.. Bishop Innocent Martinelli, the bishop of Tripoli: "I'm staying. Remain the sisters. The situation is calm the media has to tell lies. Gunshots are heard only in the evening and night. " The Seven Sisters produce and export undisturbed, as in the 90s when they slaughtered in Algeria French and Italian but not English or American was annoyed. The BBC: "With over a hundred British citizens 'endangered' in the Libyan desert, the government of David Cameron is considering sending special forces in Libya." In fact there are already three weeks. Breaking news: Hundreds of U.S. military advisers, British and French, including intelligence agents are already in Cyrenaica to help the rebels. This is revealed by sources close to the Israeli intelligence. The presence of the French meaning of the political isolation of Italy. Silvio Berlusconi must now choose whether to go down in history for Ruby Heartbreaker or the statesman that Italy withdraw from the device and our NATO military contingents from international missions. So we would also like to pay the costs of immigrants that we are providing.

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Today the blogosphere is a sad day. E 'failed Sarc , author of the blog "Sarcastycon" , one of the coolest cartoonists of the center-right blogosphere. On these columns we remember him with his own vignette. The Blog Sarcastycon remain in my blogroll, and I invite everyone to visit us every now and see his brilliant cartoons. Hello Sarc, free spirit and irreverent, we'll miss you.

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The hypocrisy of our "European brothers" and "allies overseas" reason of state

In these days, turned on the Middle East we see a long parade of hypocrisy, hypocrisy is revolting. First, the aforementioned hypocrisy of a left Italy, that denies Gaddafi, once anti-imperialist hero and friend of Prodi, now they become the evil friend of Silvio, then we see a long list of hypocrisy from our so-called allies in the EU and NATO . International media for days trying to attack for links with Berlusconi and Gaddafi makes the moral to the treaties with Cav Colonel but I say, comes from that pulpit preaching? This country with Libya has a long litigation, a dispute that arises from the former colony status, a dispute that Berlusconi wanted to close by the good old realpolitik. They would like to explain what he should do worship Berlusconi? Declare war on Gaddafi? Severing ties with Libya when Colonel had (and still is) half of Italy in his hands, in addition to the weapon by its population? Let's be serious please! Then let us remember that those who fan the sermons today are the exact same people who for decades have the right candle to Ben Ali and Mubarak, characters identical to the Colonel to madness and ferocity. We want to say it or not who is funding the armies of Ben Ali and Mubarak? We want to say that those who are pointing a finger to do morality, until all'altroieri have funded these characters and indeed, they are often used to make "dirty work" (see the prisoners sent to Egypt for torture by the uncle of Ruby which could not be carried out in other countries)? And we Italians should be ashamed for their links with Gaddafi? But do not make me laugh dear English, French, Germans and Americans! Instead of looking at the speck in Berlusconi's look at the massive beams that are in yours! Another point of hypocrisy. Italy, for obvious geographical reasons, is the first destination of refugees fleeing from the new "democratic paradise." E 'known, however, that for many of these, Italy is only a stage, a stage for other countries of Europe: France, Germany, Great Britain, Holland and so on. Our European partners, however, always ready with a finger up and snobbish to fill us with accusations of racism, do not want it to give us a hand. The refugees, however, according to the Schengen Treaty Possoni roam wherever they want, and here is the fun part. Yes, when Italy will grant this status, because we want to bet that the red pen Maestrini immediately suspend Schengen exposing their endless hypocrisy?

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In 1513 the exiled Niccolo Machiavelli wrote what I personally consider the most effective policy manual of the history of mankind. "The Prince" is lucid analysis, cynical and ruthless of what needs to be a politician and how it should move if it wants to succeed in its mission. The petition of Florentine politics has inspired myriads of men and women of power throughout the centuries and still continues to influence. The modern concept of "realpolitik" is full of theories Machiavellian to the core. Besides, it was the Tuscan philosopher who coined the concept of reason of state, or rather was the Florentine philosopher to put into prose what already existed in practice. Why reintroduce Machiavelli and reasons of state? Because much of our media-political establishment these days is completely forgotten this concept by supporting the uprising in orgasmic ecstasy in the Near East. Now even Libya, which I make known to have the highest per capita income of the African continent as well as many other excellent macro-economic savings for the sake of synthesis, is taken by these uncontrolled and uncontrollable riots. Who is behind these movements is still not clear, I think what is most closely colorful coup in Ukraine and Georgia made in the USA, but others see the long arm of the Celestial Empire, very active in African markets in recent years, others have advocated a tail strike master of the ancient Anglo-French (yes, ok, Libya was Italian). Anyone who is the puppeteer who controls the targeting of the upper-middle class Middle East (please, do not tell me you believe that the riots "via Facebook" that can cause a domino effect that not even in the Europe of 1848. To love God, we're serious) against the powers that be, that someone is playing with fire and Europe, for obvious geographical reasons and Italy in particular, threatens to burn very seriously. I do not want to Gaddafi's lawyer and companion, but we are sure that we Convenga what is happening? We are confident that our country and our continent will benefit from this '48 Middle East? My answer is no. Our country '48 and our continent from the Middle East have only to lose in two main directions

1-Energy: Egypt from that point of view counts for little, Libya and Algeria hand count a lot. If the Gaddafi regime fell and Bouteflika, who assures us that its contracts for the supply of gas from our leading companies will be perpetuated by any substitutes? Who guarantees that any successor will be willing to continue such treaties or on the other hand will begin to impose much more severe?

2-control of landings in the last year the Italian government has committed herself to enter into treaties with the governments of North Africa for the control the coast. Treaties that are costing us dearly in economic terms, but who have contributed to a sharp decrease in illegal landings on the islands of Sicily. Here, too, who assures us that the bride and satraps that will replace the old are willing to continue on this path or that they do not recover but old habits

3-And this is the most important, the population bomb. In the early '90s, following the collapse of the Berlin Wall, millions of people flocked to Eastern Europe to Western Europe. Today, with the financial crisis that has raised unemployment rates and taken to the extreme our Social Security, Italy and Europe will not be able to support comparable to the wave of migration that hit us as a result of the collapse of the wall. Not to mention that the Muslim masses already in Europe are certainly not distinct capacity for integration, in fact. The thugs of the suburbs and the London bombers were Muslims, second or even third, generation, fully integrated appearance, in reality bomb ready to explode. There is nothing stopping to think that the Muslim masses ready to land on the old continent replicate the "business" of their coreligionists. If only the masses of refugees fleeing from those countries are an indication of how things are not as depicted by the media, or that the rebels are not good, but they are in all respects similar to those that fight, indeed, perhaps they are even worse (you begin to wonder why the Copts are with Mubarak, who certainly do not treat them with kid gloves), just think of the wild looting perpetrated the violence to museums or cleverly hidden by the media those that amplify only a part. Among the many "business" of the rebels include the opening of prisons, of course, for an average of 99.9% of inmates in those prisons are "political prisoners" when the reality is probably exactly the opposite, in there there are political prisoners, but the vast majority of offenders are worst kind. Criminals who flee to Europe before it is restored order and have a foretaste of the to commit iniquity in Europe.

For these reasons, today I say, Down with the jubilation and cheering from the stadium, let us take off the slices of ham from his eyes, let's get a nice clip on the nose and act for reasons of state. Gaddafi and company dance suck all you want, but the coup taking place these days for us can be lethal. We can not sit back and watch, we must act promptly to ensure that the transitions, if they must occur, take place in a more soft, smooth and painless as possible. Can not stay here in gigioneggiare and applaud our possible future death. As for the cicadas to the left, please check you stop it and to laugh that you are painful, painful one. The first European leader to clear the shepherd of Tripoli was just your mortadella Democrat, and in the 80s, when Reagan fired two good taps to the shepherd (and did well NDA) were all square with the keffiyeh to yelling "giullemanidarvalorosopopppolllolibbiccco" et like. So, do me a favor, save yourself the trouble of his celebrations of Silvio all'altroieri that until I believe it was a great friend of yours.

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A victory and a defeat for the old Ron

Period mixed results for Ron Paul. The libertarian wing of the Republican Party leader was found to be the preferred by the public come to C-PAC (Conservative Political Action Committee) , An organization of conservative congress is held annually and that often turns out to be a useful springboard for the Republican primary. 30% of voters considered the speech of Ron Paul as the most convincing member of the Texas ahead of Mitt Romney, former governor of Massachusetts and runner-up in the primaries of 2008, which received 23% of the vote. Instead the disastrous performance of Sarah Palin, the vice of John McCain has stopped at an insignificant 3%, well behind the MP Michelle Bachmann of Minnesota. The good news for the new chairman of the Fed's control, we turn to the negative. Ron Paul has first attempted tripping all'establishment Republican, driving the revolt of the libertarian "Patriot Act". The Patriot Act is the package of anti-terrorist wanted by George W. Bush after September 11. Initially these measures were to be temporary, as often happened, however, these measures have become de facto permanent. Since 2001 Congress has always ratified year after year, the renewal of these heavy repressive measures. Measures that with each passing year, seem to be more like tools than to front real and effective anti-terrorist measures. Ron Paul opposed the measure and from the beginning, year after year, many initial supporters of the Patriot Act have begun to follow him. Barack Obama's administration has so far continued the line of the "Patriot ACT, "confirming the measures Bushists in both 2009 and 2010. Obama had agreed with the president-elect of the House, Republican John Bohner, who had secured the votes of conservatives. A few days ago but the surprise for a handful votes of the lower house rejected the Patriot Act, which is crucial for the collapse of the extent of the rebellion Ron Paul and 25 other Republican members, including several affiliated with the TEA Party, which sided with the Democrats voting against the renewal . This morning, however, the vote was repeated, and the House gave the "Patriot Act" qualified majority of two thirds, despite the rebellion of Ron Paul. The "Patriot Act" passed in the end, true, and Ron Paul is a defeat, but the difficulties faced internal rebellion and the GOP to show how the old Ron is no longer a lone suicide bomber, but that amp is finally finding consensus within the GOP, an encouraging sign ahead of the primaries of 2012.

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The hand overseas

The results of the "riots" seen . Hordes of refugees, including many exiles from the country's prisons (and certainly not the creme de la creme) and affiliated with Al Qaeda taking advantage of the situation to reach Europe via Italy. But the important thing is that the U.S. administration to get what he wants to remove uncomfortable allies with new allies from the face cleaner. The problem is that in Egypt, unlike Tunisia, where Islamic fundamentalism is small, there are the Muslim Brotherhood, a fundamentalist training wonderful program which could seriously take over in the chaos of post-Mubarak. Needless to understand which part of the Egyptian population would make the expenditure, the Coptic minority, already discriminated against, would be in great trouble when the rise of Islamists. But let the word Marcello Foa, that does an excellent summary of the matter

how to win wars in the era of globalization? Moving armies? Sometimes yes, but the result is not always satisfactory and the costs often outweigh the benefits. George Bush knows something about that in 2001 he railed against the Taliban in Afghanistan and in 2003 against Saddam in Iraq. We are in 2011, those conflicts still last and the final victory is not assured. If America had used other methods, probably would have saved thousands of lives, many billions of dollars and achieved more concrete and lasting results.

is the lesson he has learned Barack Obama, who is actually fighting the same war Bush in the sense that it supports the strategic aims. What did George W? Exporting democracy and, above all, replace decaying regimes in the Middle East, supported by leaders unpopular regimes with more respectable and more reliable leader. Think about it: it's exactly what Barack Obama proposes in Egypt and Tunisia. A change is the method.

The current occupant of the White House opts for soft power and the continuation of the techniques used in Ukraine, Georgia and Serbia in the first half of the twenty-first century. Remember the student protests that forced Milosevic in Belgrade to escape? And the exciting Orange Revolution in Kiev? Against Shevardnadze and the pink? Then the media were so excited, enhancing the revenge of the people today, however, we know - documents in hand - that those riots were not spontaneous at all, but carefully prepared and skillfully poke by private companies with public relations, acting on behalf of the Department State. Washington understood that, acting with due care, the square could be used to their advantage.

The same is happening in recent weeks in Tunisia and Egypt. Not limited to official statements, some are mandatory and are part of a party game. Ask yourself, rather ... Who decided to revolt and now first in Tunis to Cairo? The army, which he refused to fire on the crowd, legitimizing the demands of protesters. And who are linked Egyptian and Tunisian military leaders? Firmly to the United States. Who's in control now in place of Ben Ali? The generals, democratic in its intentions, but still general.
Tunisia, a country as small, moderate and devoid of strategic natural resources, was the testing ground. The test went very well and then decided to Washington groped with the bigger, but riskier, Egypt. Ours is not an insinuation, but a deduction. Founded. In recent days, the day the Daily Telegraph has discovered, buried in the Wikileaks site, one of the few documents ended up in the hands of the ambiguous Assange interesting. Documents revealed that as the autumn of 2008, the State Department in Washington had invited several bloggers and opponents of Mubarak, who wish to create the Democratic Alliance, which had as its ultimate goal to provoke a regime change. When? In 2011, before the presidential election. Scoop that the U.S. government and downplayed context.

But ask yourself: Who has, politically, the coup de grace to Ben Ali? And who put the ropes Mubarak? Also Barack Obama, who now can count on the army to Cairo and vice president, another general, Suleiman, the real strong man. The analogy with Tunis is striking.

everything fits. Today. Tomorrow, who knows, in Tunisia because the influence of Islamic fundamentalists is intangible, while in Egypt the Muslim Brotherhood is very popular in the past have demonstrated the ability to move the squares, using appropriate weapons. This makes the ending more uncertain, but does not change the overall analysis.

There is a clear policy continuity between Bush and Obama. It is also operational. The meetings were held at the State Department in the fall of 2008, when Obama was still campaigning. So at this time has had Democrat Barack option drawn up by its predecessor, the hawk George. But not Remind. You get angry.

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Lysistrata 2011

Belgium is without a government since June last year. The elections, held after the fall of the executive of Yves Leterme, produced a highly fragmented and quarrelsome parliament. First party is found to be the "New Flemish Alliance" by Bart de Woever, training separatist Flemish-style centrist who take over the division of Flanders from Belgium. Following instead the Walloon Socialist Party, Elio di Rupo (the one who was involved in the Dutroux scandal). During the election campaign the two top leaders had openly clashed. De Woever was a rage against welfarism which survive through the valleys, while Di Rupo continued to whine defending the indefensible parasitism of his countrymen. From the start it appeared difficult to reconcile the two views in a country where tensions between Flemish and Walloons is hot and mutual tolerance has reached its limit. King Albert II has tried to mediate trying to create a coalition, bringing together the largest force in Flanders (the "New Flemish Alliance") and the greater strength of Wallonia (the "Walloon Socialist Party), there has not been anything to do. Mutual vetoes, disputes between the Flemish and French forces, who want to leave the Flemish, Walloons who begin to think to pull the plug on this pathetic joke called the geo-political Belgium, and so on. Meanwhile, however, the economy starts to go wrong. Leterme's government, in office for routine administration can not make policy decisions and Belgium began to fall and is now in the focus of international speculation. Belgium took to the streets a few weeks ago, outraged by its political class, but it did not do anything. So the bizarre proposal of Senator Marleen Temmerman, the Flemish Socialist Party, which asked women to join in a sex strike, taking the example of what has been done by Lysistrata and her companions in the famous comedy by Aristophanes. The senator pointed out that the it was precisely a mere provocation, but expressed disappointment and dismay throughout the country for eight months without a government and seriously threatened to go to keep company with Ireland, Greece and Iceland.

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JP Morgan knew about the scam and Madoff Merrill Lynch's Irish crash

From Financial Times via Dagospia

Risk Officer of JP Morgan had been warned of scam Madoff. Brooke Masters, Megan Murphy and Kara Scannel

A head of the risks of the investment bank JP Morgan had been warned that Bernard Madoff had "a well-known black cloud" above his head and was suspected of having set up a Ponzi scheme, almost 18 months before the New York financier, was indicted on charges of having run a scam from $ 18.6 billion. Is the finding of procedural documents recently declassified. This accusation is contained in the lawsuit brought against the $ 6.4 billion U.S. bank by Irving Picard, receiver who has the task of recovering the stolen money to victims of Madoff. In the process, Picard wants to recover $ 1 billion in fees and profits generated by JPMorgan as the largest bank by Madoff used to manage his money and securitized derivatives produced by his company, more than $ 5.4 billion in damages. The document was made public yesterday, JPMorgan and was a request that was filed in secret. And 'one of nearly 60 cases brought by the liquidator, who want to recover more than $ 50 billion from dozens of banks, hedge funds and individuals who he profited from the fraud Madoff. Picard says that JPMorgan has ignored the billions of dollars in suspicious transfers that took place on the accounts of the company Madoff and has repeatedly failed to act on the concerns raised by its employees who worked on structured finance products Madoff. JPMorgan said that the cause of Picard is "entirely without foundation, and based on the distortion of facts and rules applicable to them." "Contrary to what the curator bankruptcy, JPMorgan was not aware of the scam, and there has never participated. "The bank also said it has complied with all applicable laws and regulations relating to current accounts and the profits generated by it on account of Madoff" were small and comply with the commission which apply in the financial market. "JPMorgan has been the main bank Madoff for more than 20 years and has also sold its structured securities to hedge funds that pumped money into the Ponzi scheme. As part of this second process The bank has made a "due diligence" (ie, control accounts, relevant documents, contracts, etc..) hedge funds and their relationship with Madoff. Picard, in the act which he deposited in court, cites several emails in which employees of JPMorgan concern. "It does not look good" ("Does not it look pretty") writes about an organization's bottom Aurelia, and another complains, "Madoff not allow us to make any 'due diligence' on him "The conversation with the risk officers would take place in June 2007, when JPMorgan was planning to give its support to an even greater number of securities issued by structured Madoff. We read an email that the risk officers would have written that another employee of JPMorgan told him "there is a well-known black cloud over the head of Madoff and that its profits would be part of a Ponzi scheme - he said that if do a Google search can find ourselves the article ... I think it is a duty to ourselves to investigate in greater depth. "The risk officers then approved $ 250 million in structured products, as stated in the documents. JPMorgan had begun to raise their money from financial products Madoff in 2008, after the acquisition of Bear Sternd had to change the attitude of the bank about its exposure to hedge funds. JPMorgan has also reported the financier Madoff English for Organised Crime Agency October 2008, saying that its profits were "too big to be true." Madoff was then handed over to authorities in December 2008 and now is serving a sentence of 150 years for fraud.

From "Republic" again by Dagospia

Censorship on the crack of Irish banks, Merrill Lynch erased the evidence of Henry Franceschini

The financial crisis that has put in knee Ireland more and more the characteristics of a plot, a yellow or a scam. The investigation of a newspaper revealed that the large U.S. investment bank Merrill Lynch has played a key role in the collapse of banks in Dublin and has criticized the relationship of one of its analysts who predicted the collapse at the beginning of 2008. In March 2008, the bank withdrew a negative report of the Emerald Isle, written by one of its analysts, because they called the Irish banks Merrill Lynch and threatened to move their money and their business elsewhere if the report had not been changed or deleted. The Merrill Lynch report changed, greatly mitigating the reviews, and several months after the report's author, an analyst named Philip Ingram, left, or perhaps it was forced to leave the bank. To make these revelations is a long article on the issue of British magazine Vanity Fair, by Michael Lewis, author of financial affairs became famous recounting their experiences in the 80s and 90s in another large investment bank U.S., the Solomon Brothers, in a book called "Liar's Poker" which became an international bestseller. The article includes interviews with Irish Finance Minister Brian Lenihan and former executives of Merrill Lynch. Lewis writes that the Ingram report was sent to the financial markets in March 2008 but was withdrawn after just a few hours. "Moments after Ingram had pressed the button on his computer transmission, the report was the document that the whole City was avidly reading," writes Lewis. "But almost immediately, calling the bankers of the Irish banks Merrill Lynch and threatened to take their business to other banks. Ingram's superiors summoned him, they did meet with lawyers Merrill, which purged the ratio of its negative reports on the status of Irish banks. Since then, all that Ingram wrote about Ireland was reviewed and corrected. " Six months later, at the request of the Irish Government, the article continues, Merrill Lynch wrote a seven-page report stating that all the Irish banks were well capitalized and had a profit. Merrill Lynch did pay € 7 million for the report, which helped to convince the Irish Finance Minister Lenihan to introduce the controversial decision in September 2008 of a security blank for all banks in his country. Extrimis saved by the intervention of the IMF and the European Union, Ireland now awaits the outcome of the elections held on Feb. 25 to see who will guide her, and how, out of the dangerous waters of national bankruptcy.

-------------------------------------------- -------------------------------------------------- --------------------

This news, reported by "Dagospia" are not made of sheets demented conspiracy theorists as "Effedieffe" or "Luogocomune" but by two mainstream newspapers such as the "Republic" and "Financial Times". But, unfortunately, this news very interesting not ever publish on the front page, for some reason. And for some reason omitted the lucrative contributions that these two banks, among others, have given the presidential campaign of Barack Obama and omit that Obama himself as a first step saved these banks, among others, with a mountain of federal funds.

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Breaking the kidneys also good news for Belgium

After the young and innovative Spain (OLE) , after the Celtic Tiger 's Ireland are prepared to give us a mouthful of Belgium! Yes because like it or not (and blogger catastrophic Italiot average from a nuisance crazy), this Italy of Bunga Bunga is rising slowly from the bottom of the rankings of European countries reliable. Portugal and Greece all in all we have always kept at bay (even with the government Visco ...) Then came the crisis and found that on balance we are better than the "mythical" Spain "and much better than the Celtic Tiger Ireland. But today we are ready for a new overtaking: In this nice chart you can see the comparative performance of the spreads between the German government bond with the Italians (in Green) and Belgium (orange), the zero point spreads were:

Belgium / Germany: 61.5 bps

Italy v Germany: 122.2 bps

So Belgium was paying a premium on German securities of about 61bps lower than ours, we are now in

Belgium / Germany: 111bps

Italy v Germany: 158bps

So Belgium was paying a premium on German securities of about 47bps lower than ours, we have recovered 14bps-

There seems little? Perhaps

but the trend lately is to further rapprochement deggli spread. You decide if it is on Italy, or default of Belgium, reluctantly I tend more towards the second version since almost a year in Belgium is that there is no government and Flemish and Walloons really seem to want to separate in a traumatic way. As far as Italy is concerned, perhaps it could be better, certainly could have gone much, much worse than this in the midst of this great crisis. Bunga Bunga apart, despite the fact that Bunga Bunga I certainly did not help him I would send a thank you to our Minister Giulio Tremonti and you?