Comment by tonytran2015: It is always cheaper to skip the intermediate step but was it possible to skip it financially ? Was it possible for the nation to borrow heavily without lowering its credit rating ? Should Australia have gone fast ahead using Huawei’s (now worrisome) equipments ?
On the most recent transaction data report filed by the Fed for the TALF, it lists the borrower that received the $1.2 billion total as Alta Fundamental Advisers SP LLC-Belstar-Alta
Series 1 and 2. It lists the Investment Manager for the borrower as Belstar Management Company LLC. Both Alta Fundamental Advisers and Belstar Management Company LLC have funds that previously registered in the Cayman Islands, according to their SEC filings.
At least 25 companies have paid bonuses worth a
combined $24.3 million to their executives after claiming JobKeeper
subsidies, an analysis of the financial reports of 290 entities on the
ASX 300 has found
The Business Council of Australia says companies should not be paying bonuses if they are receiving JobKeeper
Governance firm Ownership Matters has criticised the lack of transparency around the JobKeeper program
Well, it now turns out that not only did JPM employees allegedly enable fraud by clients when obtaining PPP loans, the largest US bank also found that some of its employees themselves “improperly applied for and received”, i.e.stole, Covid-relief money that was intended for legitimate U.S. businesses hurt by the pandemic,according to Bloomberg.
The bank discovered the actions, which were tied to the Economic Injury Disaster Loan program, “after noticing that suspicious amounts of money had been deposited into checking accounts owned by bank employees.” The findings prompted an unusual all-staff message from JPMorgan Tuesday which according to Bloomberg “puzzled many across the industry for its candid admission of potentially illegal acts by some of its own while not describing what they had done.”
The Biggest F*** You in Human History. A reminder from 2016, that still applies today. Well worth a listen. Who would have thought Michael Moore would deliver some of the best lines on Trump?
“Donald Trump came to the Detroit Economic Club and stood there in front of Ford Motor executives and said, ‘If you close these factories as you’re planning to do in Detroit and build them in Mexico, I’m going to put a 35 percent tariff on those cars when you send them back and nobody’s going to buy them.’ It was an amazing thing to see. No politician, Republican or Democrat, had ever said anything like that to these executives, and it was music to the ears of people in Michigan and Ohio and Pennsylvania and Wisconsin — the ‘Brexit states.’”
Trump’s sincerity in wanting to stand up for the average Joe doesn’t even matter, Moore argued, because voting for him is a giant message that disaffected Americans will be happy to send to media and political elites who they see as not caring about them.
“Trump’s election is going to be the biggest ‘fuck you’ ever recorded in human history — and it will feel good,” Moore argued. …
“He is the human Molotov cocktail that they’ve been waiting for, the human hand grenade that they can legally throw into the system that stole their lives from them.”
Then Michael Moore came out as a sort-ofclimate skeptic, and the lefthatedit.
To ‘fight the coronavirus’ governments have imploded their real economies and replaced them with nationalised pools of finance earmarked for each section of the economy. This emergency transformation is the same as a wartime mobilisation of an economy, with a heavy focus on the
medical and pharmaceutical industrial complex, the military, and selected corporate partners hand-picked by the state. This hard fusion of state and corporate interests is classic corporatism or fascism. In
this brutal and constrained environment, these are some of the only institutions strong enough to remain viable…
… Large corporations will now have governments covering the cost of their
payrolls for the duration of the crisis….
For individuals and families, this means your savings are wiped-out, your property collapses in value, and your future prospects are dim, at
least in the short to midterm, and you will have no choice but to load up on personal and family debt to survive…
In terms of power-grabs, this is the embodiment of “never let a good crisis go to waste.”…
What do you call an economy of monopolies without competition or any regulatory restraints? An economy of monopolies that control both the buying and selling in the markets they control? Monopolies with the power to commit legalized fraud and the profits to buy political influence? Monopolies whose black box algorithms are all-powerful but completely opaque to public scrutiny?
Call it whatever you want, but it certainly isn’t Capitalism, which requires competition and market transparency to price capital, labor, risk, credit, goods, services, etc.
Black Box Monopoly is the death of Capitalism as it eliminates competition and market transparency.
The American economy is now dominated by Big Tech Black Box Monopolies, and thus what we have isn’t a “free market” system (a.k.a. capitalism), it’s the pretense of capitalism, a slick PR cover for the most rapacious form of exploitation.
… In 2008, Israeli billionaire Beny Steinmetz corruptly acquired the mining license for one of the world’s largest iron-ore deposits for only $160 million by paying $50 million to the wife of the then Guinean president. The real value of the mine was later revealed when he sold a 51% stake in the project to the mining corporation Vale for $2.5 billion. However, after a change in the Guinean government, the license was revoked by the new president, Alpha Condé, as it had been corruptly acquired. Vale sued Steinmetz for fraudulently selling them the license and was awarded $1.25 billion by a tribunal in London. However, Steinmetz has recently sought to overturn the ruling using information uncovered by the Israeli spy agency BlackCube (readers may be familiar with their previous work protecting Harvey Weinstein), allegedly showing that the Vale board were aware of potential bribery when they made the acquisition. The Israeli spies boast of having obtained this information through trickery, setting up an elaborate network of shell companies and talking to the Vale executives under false pretenses.
In an act of thunder-striking audacity, Steinmetz argued that this meant he should be compensated by Vale. It is too early to tell yet how this lawsuit will turn out; however, it is striking how Mr Steinmetz has served no time in prison despite having been investigated for corruption and money laundering in the United States, Guinea, Switzerland and Romania.
Perhaps this is related to his international political connections.
But what’s happening in America right now is being taken advantage of by those who want to profit politically from the panic.
To them, it’s a perfect chance to steal more of our constitutional freedoms and set America up for a socialist future.
If that sounds too extreme, just consider:
The Department of Justice recently asked Congress for the ability to detain Americans – without trial – during “emergencies” like this…
Others have proposed we “eliminate all political borders”…
And according to a recent story in Politico, the White House Coronavirus Task Force is considering creating a national surveillance system to track Americans’ health information – essentially a healthcare Patriot Act!
Don’t forget: In many states, it’s now illegal to publicly worship at a church. A blatant disregard for the First Amendment. (And many state constitutions, as well.)