"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, October 18, 2007

President Sarkozy's mistress now to be the new Mme Presidente ?

Glamorous Rachida Dati (Arabic رشيدة داتي rašīda dātī, born November 27, 1965 in Saint-Rémy, Burgundy) has a Moroccan father who worked as a bricklayer and an Algerian mother who herself worked as a cleaning lady, she is one of 12 children . She Has also been the mistress of President Sarkozy fro some time.

Plucked from relative obscurity to be the new Justice Minister on the 18th of May 2007 by Nicolas Sarkozy. She was ...er ... Nicolas Sarkozy's...er.... spokeswoman during the 2007 French presidential election.

She went to Catholic school, for the children of the haute bougeoisie. At 16, she started working at night as a paramedical assistant. She then worked for three years as an accountant at Elf Aquitaine while continuing her studies in economics and business management.

After meeting Jean-Luc Lagardère in 1990 she entered the audit management team of Matra Nortel communication. She later spent one year in London at the European Bank for Reconstruction and Development again in the financial auditing department. In 1994 she was an auditing supervisor and secretary general of the bureau of urban development studies at Lyonnaise des eaux. From 1995 to 1997, she worked as a technical advisor at the legal management division of the Ministry of Education.

In 2002, she became Nicolas Sarkozy's advisor for whom she worked on a law project on prevention of minor offenses (prévention de la délinquance). In 2006, she joined the UMP party. On January 14th 2007 she was named spokeswoman for Nicolas Sarkozy as he was himself chosen that same day to be the UMP presidential candidate for the forthcoming April 2007 elections.

After Nicolas Sarkozy's victory in the French presidentials' second round on May 6th 2007, she was appointed Ministry of Justice.One of Rachida's brothers, Jamel Dati, already a felon, was convicted of drug trafficking in 2007. He was sentenced to a six-month suspended sentence. Judicial observers say the "letter of the Sarkozy/Dati project on multi-recidivism" means he should go straight to jail, as a repeat offender. Another one of Rachida's brothers, Omar, is also a felon, due to be sentenced in November. Like Jamel, he got caught for international drug trafficking. Rachida stated that she does not recall receiving any cash money from them, at any point.

Those watching the French play at the Milennium Stadium may have glimpsed the lady sat in the row immeduately behind the French President.

Mr & Mrs Sarkozy have announced their separation today.

Syria / Turkey / Cyprus in spat over new Famagusta - Latakia Ferry Services

"The link by ferry between the two port cities of Famagusta and Latakia is now assured every Monday and Thursday," a Syrian official is quoted by AFP today as the new ferry service got under way. The harbour of Famagusta in the north is a declared "closed access point" to and from the Northern Cyprus and the Cypriot Government claims this is backed by UN resolutions.

It is not without signifiance that the first sailing were timed to coincide with the Muslim Ramadan Bayram celebration on the 10th - 14th October.

However EU Enlargement Commissioner Olli Rehn is quoted as saying the use of occupied Famagusta port was not illegal under international law and that the issue was a bilateral one between Cyprus and Syria.The EU would not (and could not) intervene, because neither the EU nor the UN had ever imposed an embargo on ports in the north.

This is not only a threat to Cypriot sovereignty but also the current tourist trips from Limassol to Latakia.

Louis Lines, the Russian owned cruise operator will take you on a 3 day weekend cruise on their ship "Serenade" with the option of a tour of the Crac de Chevaliers , St George Monastery and shopping in Latakia enade" this weekend for 185 Cyprus Pounds and a partner at 50% extra. Departing Limassol 19th and staying in Latakia, Syria for 2 nights to return on Monday 22nd.

Consequently , this apparent recognition by Cyprus of the Northern Turkish regime is under heavyweight criticism and to show how concerned they Government is, Foreign Minister Erato Kozakou Marcoullis expects to visit Damascus before the end of the year.

Before then the self important honorary president of socialist EDEK Vassos Lyssarides will fly to Damascus on Saturday as an envoy of the government - and will acheive nothing but probably have a very enjoyable weekend being entertained.

Up to press , it is said that there have been Ministerial contacts at foreign minister level but Syria has yet to give a clear response as to whether it recognises the self-declared Turkish Republic of Northern Cyprus (TRNC), currently recognised only by Ankara.

There is local speculation that Syria has done a deal with the TRNC after receiving assurances from Turkey that it would not let Israeli jets fly over Turkish territory to attack Syria.

The Cypriot government says opening such a ferry operation is illegal as the harbour of Famagusta in the north is a declared "closed access point" to and from the republic. It says this is backed by UN resolutions.

A similar link started in 1978 -- four years after the US / Turkish invasion and seizure of the north of the island -- but it lasted only about a year.

This does not have anything to do with Cyprus being used as an entrepot port for human trafficking, money laundering, drug shipments, not at all, nothing, nada.

Charles de Menezes - Fine defaulter

Testimony is due to be provided shortly by Elspeth Crewe of Merton Borough Council that Charles De Menezes was a persistently overdue with his library books and that he still owes 20p.

Apparently the Council have "in the circumstances"agreed to waive the fine.

Northern Rock ... where now ?

The "grilling" of the Directors of Northern Wreck by the Tresury Select Committee was as inept as the Directors who turned up - notably absent was the man in charge of finances !

The questions to be asked are straightforward and simple.

1. Account for the first 6 months to June 30th were prepared / YES
2. The Accounts were published and the Directors published them on July 29th with a recommendation for a dividen increased byu 30% , the maximum allowable under the new Basel 2 rules the company had adopted / YES
3. 12 days later on August the 9th the Banks was unable to obtain funds to continue in businessa dfn approached the BOE as lender of the last resport. / YES
4. The copmany now has loans of 13 BN.Pounds Sterling (ish) without which it could not continue in business / YES

Questions to ask ... what has all this got to do with blaming the BOE , FSA, world conditions, the weather, a grumbling tummy ?

Not only were the Directors reckless in their borrowing policy , when given the opportunity to reduce the bank's liquidity by issueing an interim dividend it, did so, and increased it to the maximum level possible.... a decision which they had to reverse.

Now we have news that no @rescue@ packages are available and besides loans of unimagineable size, gurantees of loans from private lenders by the state of any size, the delightful, glamorous, generous Kitty Ussher has announced that savers who had withdrawn cash from tax-free Individual Savings Accounts (ISAs) held at Northern Rock PLC can reinvest in other ISAs without any tax penalties.

What more somersaults does the Government have to perform and distort the market for other deposit taking institutions to get this pig off it's hands ?

The Military Covenant

The UK military top brass lost their marbles a long time ago along with their capacity to lead and inspire.

They may take a lesson from the priod when Sweish naval power was at it's height in the early 17th Century - Chancellor Oxenstierna wrote to KIng Gustavus Adolphus ;

It seems to me that it is esential that your Majesty should above all things labour to create a powerful fleetat sea; a fleet of good ships , and most especially a fleet very numerous,so that you may be masterof every nook and cranny ofthe Baltic;and further that all the sailorsand all that is used aboard ship , be before all else well maintained, and meetly and handsomely provided,so that the crews may be kept both in spirits and in health...

Riklanseren Axel Oxenstiernas Skrifter och brelvaxling

A prescription which is concise and all encompassing,as relevant to land forces or those of the air or the sea.

Regrettably these excellent precepts were not followed after the death of the writer and the addressee and the Swedish Fleet nearly met it's nemesis in 1675 against the combined Dutch and Danish fleets. The Swedish admirals, Creutz and Horn had no experience of naval warfare, preferring the joys and delights of life in port to sea. As a consequence it took 8 hours to weigh anchor to set sail after the Dutch Admiral Tromp and the Danish fleet under Admiral Juel.

The result was that by summer 1676 they had fled in panic, lost control of the Baltic and the German provinces of Bremen, Pomerania and Verden were overrun.

Whilst UK provinces are not under threat it is evident that years of neglect of supplying the right equipment, decent provision of services and accomodation have taken their toll on men and morale.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish