Germany halts ACTA approval
RT – February 10, 2012
Germany has delayed its approval of the ACTA treaty after the Justice Ministry voiced its concerns about the legislation. It is the third EU country after Poland and the Czech Republic to challenge the controversial treaty.
The Justice Ministry said that the European Parliament should vote on ACTA before it is considered by the state’s parliament.
Three of Germany’s parties, the Pirate Party, the Left Party and the Greens, have also spoken out against ACTA.
German protesters are expected to stage demonstrations in over 60 towns across the country on Saturday.
Earlier Poland and the Czech Republic had refused to approve the agreement. Both countries saw major protests in the streets. Critics of ACTA accuse its authors of hammering out the agreement in secret and say the deal will limit online freedom of speech.
On January 26, the controversial ACTA treaty was signed by the 22 of 27 European Union member states, and the EU itself. It now has to be ratified by the European Parliament and is scheduled to be debated in June.
ACTA is an international agreement aimed at protecting intellectual property. It shares similarities with the Stop Online Piracy Act (SOPA) in the US, which was shelved by lawmakers after a partial blackout by Wikipedia and Google in protest.
The ACTA treaty was negotiated by industrialized countries struggling for ways to fight intellectual property theft. The US, most of the EU, Australia, Canada, Japan and several other countries have signed the treaty.
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Foreclosure Settlement: Just Another Link In a Long Chain of Corruption
Why the Feds Won’t Prosecute the Big Wall Street Banks
By PAM MARTENS | CounterPunch | February 10, 2012
Yesterday the Department of Justice and 49 state attorneys general announced the long anticipated $25 billion deal with 5 large Wall Street firms — Bank of America Corporation, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc. and Ally Financial Inc. — to settle foreclosure and mortgage servicing abuses. Unfortunately, the settlement is not yet 24 hours old and cracks are emerging.
Each major corruption settlement with Wall Street, and they are legion over the past 15 years, triggers a commemorative magazine cover. I keep some favorites handy.
The October 1996 cover of Registered Representative Magazine, the trade magazine for financial consultants and stock brokers, blared in 48 point bold red type: “How the NASD Was Corrupted.” That issue focused on the years of price fixing of stocks traded on the Nasdaq market by the biggest firms on Wall Street while the self regulatory body, the National Association of Securities Dealers, was dominated by the same firms and looked the other way. (Think SEC today.)
The Department of Justice, then under Janet Reno, had this to say about the settlement: “We have found substantial evidence of coercion and other misconduct in this industry. By providing for the random monitoring of traders’ telephone calls, we expect to deter future price fixing on Nasdaq.” At the time, Reno said the “law does not provide the Department with statutory authority to recover damages or monetary penalties in such cases.”
The next big corruption probe drew a giant green serpent wrapped around the street sign for Wall Street on the cover of BusinessWeek with the rhetorical question: “Wall Street: How Corrupt Is It?” That settlement collectively cost the big firms $1.4 billion for peddling fake stock research to the public to induce investors to buy bad companies while the same analysts called the firms “dogs” and “crap” in internal emails. The announcement of the deal came on April 28, 2003 from the SEC, the New York Attorney General of that day, Eliot Spitzer, the NASD, the New York Stock Exchange and state securities regulators — all gushing over how great this deal was for the public and how it was going to reform Wall Street.
New York Magazine has found an odd way of commemorating the crumbs available to illegally evicted and displaced children and families under the current settlement. The current magazine cover has a Wall Street guy clasping his… uh…private portfolio…with the headline: “The
Emasculation of Wall Street.” If Wall Street is being emasculated, you sure can’t tell it from yesterday’s settlement.
Not only did Wall Street settle its robo-signing, illegal foreclosures and servicing problems with the Department of Justice and 49 state attorneys general (Oklahoma settled independently) but lost in the headlines was that the two major regulators of national banks, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve, also settled with the biggest Wall Street banks in a decidedly cozy deal that effectively lets them off without a monetary fine as long as they pay under the federal-state settlement agreement.
The OCC settled with Bank of America, Citibank, JPMorgan Chase, and Wells Fargo for a combined $394 million but here’s the cozy part: “the OCC agrees to hold in abeyance imposition of such penalties provided the servicers make payments and take other actions under the federal-state settlement with a value equal to at least the penalty amounts that each servicer acknowledges that the OCC could impose…”
The Federal Reserve issued monetary sanctions of $766.5 million against the parent holding companies: Bank of America Corp., Citigroup Inc., Ally Financial, Inc., JPMorgan Chase & Co., and Wells Fargo & Co. and two mortgage servicers GMAC Mortgage, LLC a subsidiary of Ally Financial, Inc., and EMC Mortgage Corporation, a subsidiary of JPMorgan Chase & Co. But again, the Wall Street firms can get off the hook for paying these sums by simply paying them under the $25 billion federal-state settlement.
The specifics of just what the state attorneys general agreed to is unknown, even to some of the attorneys general. According to the web site set up to inform the public about the settlement both the primary “Settlement Document” and the “Executive Summary” will be “coming soon.” Without those documents available for public perusal, there is the reasonable suspicion that the public has once again been feted to lipstick on a pig, as they like to say on Wall Street.
One striking problem is that California Attorney General Kamala D. Harris states on her web site and in this video that California is getting $18 billion. Florida Attorney General Pam Bondi
says on her web site that Florida is receiving $8.4 billion. Those two amounts would leave a negative figure for the other 47 states that agreed to the $25 billion deal.
There’s also something peculiar about the Federal Department of Justice and 49 states setting up an informational web site that ends in .com instead of .gov. Register.com shows the web site has used a privacy shield to block the name of the owner of the site.
Corporate media is reporting that the deal settles only foreclosure and servicing abuses. But this web site states: “The agreement settles only some aspects of the banks conduct related to the financial crisis (foreclosure practices, loan servicing, and origination of loans) in return for the second largest state attorneys general recovery in history and direct relief to distressed borrowers while they can still use it.” The Florida Attorney General concedes on her web site that the deal with the state includes loan origination issues. That may not sit well with residents of a state where massive loan origination frauds occurred.
I called the AG’s office in Massachusetts – historically a tough regulator when it comes to Wall Street. The spokesperson could not answer why loan origination is included on the settlement web site.
Why is mortgage loan origination a big deal? Because tens of thousands of consumers were victimized in a bait and switch racket, believing they were getting a fixed rate mortgage only to find out a few years down the road that they had an adjustable rate mortgage that reset and doubled or even tripled their monthly payment – making it impossible to stay in their home; an effective wealth stripping enterprise by Wall Street against decent, hardworking families across America.
Other abuses in loan origination abounded. The Federal Trade Commission took this testimony from Michele V. Handzel, a former Branch Manager for CitiFinancial, a unit of Citigroup. Ms. Handzel is comparing the practices of CitiFinancial after it acquired another firm, The Associates.
“CitiFinancial put much more pressure on employees than the Associates did to include as many credit insurance and ancillary products as possible on every loan….In fact, I feel that the credit insurance sales practices at CitiFinancial were worse than at The Associates. From January to June 2001, the policy was that no personal loan at CitiFinancial would be approved if it did not include some type of credit insurance, nor would a real estate loan be approved without some type of ancillary product…There were several internal measures in place to effectuate this policy. For instance, District Managers would frequently refuse to send a loan to underwriting if it did not include some type of insurance product. Moreover, loans that were closed and did not include any insurance would be identified by CitiFinancial’s internal insurance auditors, and the employee who closed the loan would be written up…Closings at CitiFinancial resembled those at The Associates – they were brief. Personal loan closings took approximately 10 minutes. Real estate loan closings took a little longer but also did not provide a lot of details about the loan. At CitiFinancial, I was instructed to do a ‘closed folder’ closing, meaning that information would be discussed orally first. Only after the borrower indicated that he wanted to sign would the employee open the folder and have the borrower sign the papers.”
In the past, Wall Street knew it could steal billions and settle with its easily maneuvered regulators for millions. It did this time and time again, never having to admit to any crime. Wall Street translated this to mean that crime was a lucrative profit center. This latest settlement raises the potential of this profit center. Wall Street now understands that it can steal trillions and settle for billions.
And just why is it that the Feds can’t or won’t prosecute the biggest of the Wall Street firms? Because they are the Federal Government’s bond brokers, the primary dealers who contractually agree to buy Treasury bills or notes or bonds at every U.S. Treasury auction. They may be serially corrupt, but Uncle Sam needs those contractual guarantees of its primary dealers to be sure it can pull off its debt auctions. And the U.S. government cannot engage in contracts with convicted financial felons.
And it won’t break up these bloated behemoths because big balance sheets are just what a government with $15 trillion in debt is looking for in a bond broker.
~
Pam Martens worked on Wall Street for 21 years. She spent the last decade of her career advocating against Wall Street’s private justice system, which keeps its crimes shielded from public courtrooms. She maintains, along with Russ Martens, an ongoing archive dedicated to this financial era at www.WallStreetOnParade.com. She has no security position, long or short, in any company mentioned in this article. She is a contributor to Hopeless: Barack Obama and the Politics of Illusion, forthcoming from AK Press. She can be reached at pamk741@aol.com
Related CounterPunch articles:
The Next Financial Crisis Hits Wall Street, As Judges Start Nixing Foreclosures
A Secret Deal Between Wall Street and Washington Shines a Harsh Light on Federal Housing Agency
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- Housing Settlement Signals Opportunities for Bank Stocks (beta.fool.com)
Soldier, 2 Female Settlers, Arrested For Writing Racist Graffiti

File Photo
The Israeli daily, Haaretz, reported Friday that an Israeli soldier and two young female settlers were arrested by the Israeli Police for writing anti-Arab, Anti-Islam graffiti in the Al-Lubban Ash-Sharqiyya Palestinian village, south of the northern West Bank city of Nablus.
The three were arrested on Thursday at night; the soldier is a resident of the Itamar illegal settlement, near Nablus.
The soldier and two young female setters were caught on tape by a surveillance camera infiltrating into the Palestinian village last Tuesday at 1:30 A.M.
He drove a car into the village and one of the female settlers stepped-up and used a knife to cut open some cement sacks.
Later on, the three sprayed graffiti including “Death to Arabs”, “Mohammad is a pig”, and “Price Tag” in the village.
Dozens of residents in the village, woke up on the sound of the settlers’ vehicle driving in their village, and tried to intercept the car; an argument took place and the soldier used his automatic rifle to scare the residents away; the three settlers then drove out of the village.
The District Court in Jerusalem decided to remand the soldier under interrogation until Monday; he admitted to the vandalism act, while the two young women, Orien Nizri, from Jerusalem, and Sarah Goldberg from Tapuach illegal settlement, will remain in detention, until Tuesday, pending further legal action.
Price Tag attacks carried out by extremist settlers, including Israeli soldiers who are also settlers, are continuously being carried out against the Palestinians, their property, their orchards and farmlands, and against holy sites; such attacks included burning several mosques and a church.
These attacks also targeted offices and property that belong to leftist Israeli groups, including offices and property of members of the Israeli Peace Now Movement.
The settlers blame Israeli peace groups, and the Palestinians for any evacuation of illegal settlement outposts in the occupied territories.
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- Jewish Settlers Torch Mosque In Ramallah (alethonews.wordpress.com)
- Settlers torch cars in Beit Ummar (alethonews.wordpress.com)
- Settlers ‘raid Nablus village’ (altahrir.wordpress.com)
- Settlers kidnap shepherd near Nablus (alethonews.wordpress.com)
- Jewish settlers break into Muslim shrines to perform Talmudic rituals (alethonews.wordpress.com)
- Settlers torch West Bank mosque (alethonews.wordpress.com)
Al Jazeera English Doesn’t Care About Khader Adnan
By Linah Alsaafin – The Electronic Intifada – 02/10/2012
Palestinian prisoner Khader Adnan has entered his 55th day of hunger strike. He has long passed the critical stage and is in danger of organ failure any moment now. In other words, Khader Adnan is dying.
The silence from international media is deafening. Much of the publicity highlighting Adnan’s case came from social media via Twitter and blogs.
Does a young father of two arrested in the dead of night from his home, held under illegal administrative detention i.e. no charges have been brought against him, beaten and tortured during his interrogation, hunger striking since December 18th—a day after his arrest—not warrant headlines?
Does his identity as spokesperson for the Islamic Jihad cloud the editors’ judgments? Does his long beard — most of which has now fallen out due to the effects of starvation — not make for sexy media attention?
Yesterday a group of Palestinians called up Al Jazeera’s Jerusalem Bureau, demanding to know the reason for the bureau’s nonexistent coverage regarding Khader Adnan. Why Al Jazeera English? Why not the myopic BBC—who’ve recently proclaimed their censorship of the word “Palestine” from their music programmes—or The Guardian or CNN? (The last one was a joke.)
As an Arab news source based in Jerusalem, Al Jazeera English holds the responsibility to report what is happening to Palestinians. Not only are they not covering the bombings in Gaza, but they are ignoring the ethnic cleansing happening under their noses in Jerusalem. They have also completely ignored the weekly, daily popular protests in Palestine, while at the same time attempting to present themselves as the voice of the people who are revolting against oppression in the Middle East.
The litany of crimes that Israel commits on a daily basis against Palestinians is long and ranges from land theft, ethnic cleansing, violence against men, women, and children, bi or tri-weekly bombing campaigns on the besieged people of Gaza, political arrests of dozens of Palestinians on a weekly basis including children as young as 13 years of age and institutionalized racism and discrimination that Palestinians face every day which prohibits them from living anything resembling a normal life. As a result many of us turn to blogs and twitter to find out what is happening which begs the question, what exactly is AJE correspondent Cal Perry being paid to report on in Palestine?
Furthermore, while all political prisoners are a shame to the countries imprisoning them, what was the criteria that Al Jazeera used to determine that a self professed Egyptian Zionist, Maikel Nabil, was more worthy of coverage than a Palestinian anti-Zionist?
Coverage of Maikel Nabil from Al Jazeera English:
- Egptian blogger’s arrest stirs doubts
- Maikel Nabil Live Blog
- Egyptian blogger’s arrest stirs doubts
- Ministrial declared in case of Egyptian blogger
- Egyptian anti-military activist Maikel Nabil rejects pardon
Al Jazeera simply cannot state that Khader Adnan’s hunger strike is not news worthy as international human rights organizations have expressed alarm and condemnation over his detention and concern for his deteriorating health.
The following conversation took place between one caller and a woman from Al Jazeera English Jerusalem office, in response to that caller’s question about why Khader Adnan has been receiving so little exposure from Al Jazeera English.
“But there are other important stories we’re covering.”
“But Khader Adnan has been on hunger strike for 54 days in administrative detention and he’s dying.”
“But there are people dying everywhere.”
The caller was then directed to the editor, who said:
“With all due respect, it’s not up to you to tell us what to cover. I’m only accountable to my superiors in Doha.”
The editor continued to say that there will be a story on the website today so perhaps “you should wait before passing judgments.”
Did that mean that the caller should wait until Khader Adnan dies before he can get decent coverage?
The disrespect and arrogance that Al Jazeera English has shown to Palestinians with the lack of coverage has been nothing short of shocking. If Al Jazeera cannot commit itself to doing actual reporting about the cruelty of the Israeli occupation on a daily basis against Palestinians then it would be best for them to move their office to Tel Aviv or head back home to Qatar.
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- Former Irish hunger striker’s message for Khader Adnan, a Palestinian prisoner 55 days on hunger strike (alethonews.wordpress.com)
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The Invention of Ancient Israel, the Silencing of Palestinian History
By Roy Bard | Uprooted Palestinians | February 10, 2012
Sheffield PSC last night hosted a talk by Professor Keith Whitelam, author of The Invention of Ancient Israel, the Silencing of Palestinian History and Palestine, the Bible and the Imperial Imagination.
Keith Whitelam’s book has caused some controversy in academic circles, as explained by Simon Targett
Like other sceptics, Whitelam, a soft-spoken Quaker with a Lincolnshire lilt, contends that ancient Israel is an invention of modern scholarship. He believes that the picture of a thriving Iron Age Jewish kingdom headed by David and Solomon is “a fiction”. Unlike other sceptics, he goes one key step further, contending that the scholarly debate has been driven by a dominant “biblical discourse” fuelled by a tankful of “unspoken and unacknowledged” assumptions. The main effect, he says, has been “the silencing of Palestinian history”.
According to Whitelam, the history of Palestine has been distorted by the deference shown to the Hebrew Bible. All the great biblical scholars – from the earliest explorers like Edward Robinson through mid-century biblical specialists like the German Albrecht Alt and the American William Albright, to modern scholars like Israel Finkelstein – have been diverted by the search for ancient Israel, and particularly the Davidic empire. This search, he maintains, has sometimes been underpinned by more controversial political assumptions, which have a bearing on the fraught contemporary politics of the Near East.
The audio provides an interesting introduction to the ideas that Professor Whitelam explores in his book, along with some up to date commentary.
In case you missed it:
Jerusalem does not belong to Jewish-Israelis: “The Bible Came From Arabia”,
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Seven abducted Iranian engineers released in Syria
Press TV – February 10, 2012
The seven Iranian engineers and specialists abducted while working on a power plant project in the Syrian city of Homs in December have been released.
“The engineers who were working on the development of Syria’s Jandar power plant were kidnapped by terrorist groups in this country based on unfounded claims such as collaboration with Iran’s Islamic Revolution Guard Corps,” an informed source with the Iranian Energy Ministry said on Friday.
Five of the seven freed Iranians were kidnapped by unknown armed gunmen on their way to the 450-MW power plant in the troubled Syrian city of Homs on December 21.
The technicians have been building the city’s Jandar power plant for the past two years.
The two other released Iranians were abducted one day after the initial kidnapping while on a mission to establish the whereabouts of the missing engineers.
Iranian engineers and experts are currently implementing development projects in Syria, valued at more than 1.7 billion dollars.
A group of 11 Iranian pilgrims, who were kidnapped by the ‘Free Syrian Army’ on a road connecting the Syrian city of Hama to the capital, Damascus, on February 1, were handed over to Iranian officials in the Turkish city of Adana on Thursday.
The Free Syrian Army is affiliated to the Syrian opposition groups which have cordial relations with Ankara.
However, the whereabouts of another 11 Iranians, who were abducted on January 26 by a group of unidentified armed men on a road connecting Damascus to the northwestern city of Aleppo, remains unknown.
Syria has been experiencing unrest since mid-March 2011. While the opposition blames the government, the Syrian government says “outlaws, saboteurs and armed terrorist groups” are responsible for the unrest, which is being orchestrated from abroad.
Russia Says West “Accomplice” to Violence in Syria
Al-Manar | February 10, 2012
Russia accused the West on Friday of being an “accomplice” to the violence in Syria and said the country’s opposition bore full responsibility for ending the ongoing violence.
Speaking to ITAR-TASS news agency, Russian Deputy Foreign Minister Sergei Ryabkov said that “Syrian President Bashar Al-Assad’s promise to stage a new constitutional referendum meant that it was now up to the armed resistance movement to take the next step.”
He also warned that “Russia was ready to follow this month’s veto of a draft UN Security Council resolution on the crisis with additional strong measures if the West continues to refuse acknowledging the opposition’s role in the crisis.”
“The Syrian leadership has assured us of its readiness to quickly hold a referendum on a new constitution and move toward elections,” Ryabkov said.
“This means that the opposition bears full responsibility for improving the situation and finding a way to stop the bloodshed… Western states that push the Syrian opposition into uncompromising measures, which arm them and give them advice and instructions are accomplices in the process of inflaming the crisis,” he added.
“The responsibility rests with those who while holding the levers of influence over the opposition still fail to call it to order and demand that it accepts the Syrian government’s offers and begin real talks,” the Russian deputy foreign minister further pointed out, warning that “Russia will have to again and again resort to strong measures at the Security Council if Western states introduce new resolutions on the crisis that only blame Assad.”
In addition, Ryabkov dismissed joint efforts by the United States and Turkey to organize an international conference on the crisis and possible relief efforts for the opposition.
“Russia does not share the West’s views about so-called humanitarian intervention,” he said.
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