economic situation is dire

[bickster]

Isn't that hal turner a bit of a loopey tunes white supremacist? And I think that banking report has been completely denied as its not even been finished yet.

[Gringo]

Isn't that hal turner a bit of a loopey tunes white supremacist? And I think that banking report has been completely denied as its not even been finished yet.

The banks will have completed their tests and submitted their reports - so they are all sitting on some desk somewhere - the bank will say that the reports won't have been audited yet and so are asking the banks individually to keep schtum.

[ender4]

house prices rising again - dammit!!!!

what happened to the crash? this is the most minor recession ever.

[johnvillan]

Isn't that hal turner a bit of a loopey tunes white supremacist? And I think that banking report has been completely denied as its not even been finished yet.

I got the info of another report and he belives it is correct. The us securities exchange commission has been in touch with Turner so i think the story is legitimate.

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Monday, April 20, 2009

U.S. Securities & Exchange Commission calls TRN about "Stress Test" Story

North Bergen, NJ -- This afternoon at around 3:00 PM eastern US time, Turner Radio Network (TRN) received a call from John Polesi at the U.S. Securities & Exchange Commission in Washington, DC.

Mr. Polise asked about our story concerning the "stress test" as reported lower on this page. He specifically asked if we did, in fact, have a copy of the report?

I asked why he wanted to know? He replied "it is a material document."

He went on to say that the SEC is trying to determine what aspects of the report - if any - the SEC might require publicly traded companies to disclose publicly. I replied that I am aware that such discussions have been taking place between the SEC, the US Treasury and the Federal Reserve and that reports of those discussions have appeared in the main stream media of late.

He then asked "If I send you a request for documents, will you send the report to me?" I replied, "Would the request be a Subpoena?" He responded "No" and then asked, "If the request did come in the form of a Subpoena, if I got the Commission to approve one, would you supply the document?" I responded "We would have to speak with our legal counsel first, but I suspect we would move to quash any such Subpoena."

He thanked me for my time and hung up.

Caller ID indicated the call originated from 202-551-2000, but that is a non-working number. So we called directory assistance in Washington, DC and obtained the correct number for the US SEC.

After dialing the correct number, we got an automated attendant and selected 5 for the SEC media office. A young man named Kevin answered and confirmed for us that John Polise does work for the Enforcement Division of the SEC and that all telephone calls originating from their office show up on caller ID with that non-working phone number. As such, it appears this inquiry was legitimate.

Clearly, our report about the bank stress test results has struck a raw nerve in Washington, DC and elsewhere. To have both the United States Treasury comment on our story and the United States Securities and Exchange Commission call us literally within hours of our report indicates how seriously the powers-that-be are taking our revelations.

If there was nothing to our report, why all the fuss?

If they think anyone at TRN might be intimidated by a federal inquiry, they are sadly mistaken.

We have successfully defeated investigations by the FBI, The Joint Terrorism Task Force, The US Secret Service, the US Marshal Service, the US Capitol Police and a host of state and local law enforcement agencies over the past eight years of our existence. The SEC doesn't faze us at all.

We've ruffled a lot of feathers with this report. Stay tuned for further developments.

link

He also seems to think that he is being targeted since the story broke .

Tuesday, April 21, 2009

Thou doth protest too much

Since publishing my report regarding the Bank stress test results, people have been coming out of the woodwork trying to discredit me and the story.

There have been scurrilous accusations hurled at me ranging from "he profited from moving the markets" to "he's just trying to get attention" to "don't believe him, he's a racist, white supremacist, hate-mongering bigot from hell. "

Profit Motive

For the record, Turner Radio Network does not buy, sell or promote any stocks, options, bonds, mutual funds, money market instruments or any other financial service, advice or data.

I do not personally own, buy or sell any stocks, options, bonds, mutual funds, money market instruments or the like and no one holds, manages or trades in any such financial instruments on my behalf.

Neither the Turner Radio Network nor myself profited by the movement of the markets in any way whatsoever.

"He just wants attention"

The web sites connected to TRN and to The Hal Turner Show have garnered more than thirty million visits in the last three years. I have personally appeared on Dateline NBC, "Paula Zahn Now" on CNN, "At Large" with Geraldo Rivera on the Fox News Channel and countless local and national TV shows. I have also been a guest on countless radio shows both in the USA and overseas.

Having been featured on so many media outlets, I routinely DECLINE to do TV and radio interviews because I do not need or want the attention. I've had quite enough, thank you.

Racist, White Supremacist, Bigot, anti-Semite

One of the things that has made TRN a success is that we say what we think and we allow people to call-in to our shows and say what they think. Real free speech.

While everyone says they support free speech, the politically-correct crowd routinely gets its knickers in a twist when anyone actually speaks freely!

In their zeal to stifle free speech, the politically-correct smear folks as racists, bigots, hatemongers and a whole host of other epithets in an effort to put people on the defensive and get them to shut up.

I learned early-on that the PC crowd will never relent in their efforts to control what everyone else says and thinks, so I routinely and deliberately stick my finger in their collective eye by using harsh language. For that, they attack me mercilessly.

I know there are good and bad in all kinds of people; Whites Blacks, Hispanics, straight people gay people, Christians and others. But when I dare to talk about certain criminal acts, or certain perpetual whining by professional victims, the PC crowd goes nuts.

The long and short of this post is to say that just because folks may disagree with certain opinions I hold, does not invalidate those opinions or lessen the truth of news I report.

I urge each of you to bear in mind there are powerful people with a vested interest in concealing the ugly truth about the financial collapse taking place. They will stop at nothing to discredit or destroy those of us exposing the truth.

Just because they claim my story is false doesn't make it so.

link

[villal]

By MATT SMALL, Associated Press Writer – 1 hr 55 mins ago

WASHINGTON – David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home Wednesday morning in what police said was an apparent suicide.

Mary Ann Jennings, director of public information for the Fairfax County, Va., Police Department, said Kellermann was found dead in his Reston, Va., home. The 41-year-old Kellermann has been Freddie Mac's chief financial officer since September.

Jennings said that a crime scene crew and homicide detectives were investigating the death, but that there didn't appear to be any sign of foul play.

McLean-based Freddie Mac has been criticized heavily for reckless business practices that some argue contributed to the housing and financial crisis. Freddic Mac is a government-controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

Kellermann was named acting chief financial officer in September 2008, after the resignation of Anthony "Buddy" Piszel, who stepped down after the September 2008 government takeover. The chief financial officer is responsible for the company's financial controls, financial reporting and oversight of the company's budget and financial planning.

Before taking that job, Kellerman served as senior vice president, corporate controller and principal accounting officer. He was with Freddie Mac for more than 16 years.

here

Hmmmm - what did he uncover?

[johnvillan]

I was just thinking the same thing.

[Gringo]

Decline of the UK economy worsens

The UK economy has shrunk for the third consecutive quarter, confirming that the country is still in recession.

GDP fell by 1.9% in the three months from January-March 2009, the steepest quarterly fall since 1980 and much worse than the predicted 1.5%.

The UK government is now predicting that the economy will continue to decline through most of 2009, at annual rate of 3.5%, but recover in 2010.

[villal]

The UK economy has shrunk for the third consecutive quarter, confirming that the country is still in recession.

GDP fell by 1.9% in the three months from January-March 2009, the steepest quarterly fall since 1980 and much worse than the predicted 1.5%.

The UK government is now predicting that the economy will continue to decline through most of 2009, at annual rate of 3.5%, but recover in 2010.

Translates to:

"The Government will allow the banks to continue looting the tax payers until some time in 2010, by which time we should be at rock bottom, from then on the only way is up"

[danversp]

The UK economy has shrunk for the third consecutive quarter, confirming that the country is still in recession.

GDP fell by 1.9% in the three months from January-March 2009, the steepest quarterly fall since 1980 and much worse than the predicted 1.5%.

The UK government is now predicting that the economy will continue to decline through most of 2009, at annual rate of 3.5%, but recover in 2010.

Translates to:

"The Government will allow the banks to continue looting the tax payers until some time in 2010, by which time we should be at rock bottom, from then on the only way is up"

would you have allowed the banks and especially HBOS and RBS to go under and do you think it would have made these figures better. Also the markets are a wonderful thing, the day after we hear about the dreadful economic news I then see the FTSE rise by over 3%, who really knows what could and will happen.

[snowychap]

Bargaining fails to break deadlock over IMF

Cracks have opened up in the united front maintained by the leading world economies in trying to combat the global recession.

Tensions flared at talks between finance ministers over how to carry through key elements of the pact sealed at this month’s London summit of the Group of 20 nations.

Despite intense bargaining throughout the weekend, ministers gathered in Washington failed to agree on how to raise the full $500 billion (£340 billion) in extra funding for the International Monetary Fund pledged by the G20 three weeks ago.

The IMF’s ruling International Monetary and Financial Committee (IMFC) trumpeted as a “key achievement” success in securing $250 billion to double the fund’s available finance for crisis loans.

But while more than $300 billion of the $500 billion target sum has now been pledged, countries were still at odds over who should provide the remaining money promised by the G20, and by what means.

A split also erupted between the United States and Europe over a call by Washington for a far-reaching shake-up of the IMF that would give a much bigger say in its operations to emerging market countries, led by China, at the expense of Europe.

There were more divisions, too, over the pace at which extraordinary fiscal and monetary measures to fight the world slump should start to be unwound once recovery takes hold.

The most serious differences came over the urgent efforts to raise the extra funding for the IMF. The US continued to lead attempts to persuade more countries to make one-off crisis contributions to the fund’s coffers or boost their existing commitments.

Talks were under way to expand the select group of countries that can be called on to provide extra money to the IMF under its so-called “new arrangements to borrow”. But the weekend meeting ended without a deal.

...more on link

[Awol]

Continuing in the vein of travelling the world to be humiliated by foreign leaders, Gordon gets another lecture on debt, this time from Poland.

Brown left red-faced by debt lecture from Polish Prime Minister

Gordon Brown's attempt to put the economic misery of Britain behind him on a whistle-stop world tour were stymied today when Poland's Prime Minister embarrassed him with a lecture on the perils of excessive public borrowing and culture of debt.

Speaking after a breakfast meeting between the two leaders in Warsaw, Donald Tusk, the Polish premier said that while he did not want to comment on any other economy, the Poles had fared so well because they behaved with "full responsibility in terms of their deficit".

While Britain is struggling to cope with the effect of three quarters of economic contraction, Poland is basking in 12 years of consecutive, uninterrupted growth.

With Mr Brown standing next to him, Mr Tusk said that one of the main reasons Poland has so far managed to avoid the ravages of the credit crisis was because Warsaw had "efficient supervision to banks and sticking to the rules.... not exaggerating with living on credit. These are the most certain ways of avoiding [the consequences] of financial crisis."

First Chile and now the mighty Poland. It's getting quite embarassing!

[tonyh29]

They better hope Germany don't blitzkrieg them anytime before Brown leaves office , somehow they may not get any help :-)

[LondonLax]

Continuing in the vein of travelling the world to be humiliated by foreign leaders, Gordon gets another lecture on debt, this time from Poland.

Brown left red-faced by debt lecture from Polish Prime Minister

Gordon Brown's attempt to put the economic misery of Britain behind him on a whistle-stop world tour were stymied today when Poland's Prime Minister embarrassed him with a lecture on the perils of excessive public borrowing and culture of debt.

Speaking after a breakfast meeting between the two leaders in Warsaw, Donald Tusk, the Polish premier said that while he did not want to comment on any other economy, the Poles had fared so well because they behaved with "full responsibility in terms of their deficit".

While Britain is struggling to cope with the effect of three quarters of economic contraction, Poland is basking in 12 years of consecutive, uninterrupted growth.

With Mr Brown standing next to him, Mr Tusk said that one of the main reasons Poland has so far managed to avoid the ravages of the credit crisis was because Warsaw had "efficient supervision to banks and sticking to the rules.... not exaggerating with living on credit. These are the most certain ways of avoiding [the consequences] of financial crisis."

First Chile and now the mighty Poland. It's getting quite embarassing!

When you are starting from the position Poland’s economy was in 12 years ago achieving continuous economic growth is not so tough.

[danversp]

Ok so you thought we were declining fast at nearly 2% for the quarter, from this you can see the US has contracted two successive quarters by 6% per quarter, is that not a depression, yet despite these figures the Dow has gone up as the fed sees signs of the decline weakening, strange times.

[snowychap]

Isn't that an annualised figure?

[danversp]

Isn't that an annualised figure?

yes it says that but is still a shocking figure for them and still for the world economy.

[snowychap]

Our figure of 1.9% is not an annualised figure, is it?

[danversp]

no idea on that snowychap but I guess the real big test will be this quarters figures if they show the same we are really in for a rough ride worse than many have predicted or we want

[Gringo]

Ok so you thought we were declining fast at nearly 2% for the quarter, from this you can see the US has contracted two successive quarters by 6% per quarter, is that not a depression, yet despite these figures the Dow has gone up as the fed sees signs of the decline weakening, strange times.

The economy has contracted by 6%. the stock market by 50% from peak to trough. Not that strange at all. In fact to be expected. Markets tend to run well ahead of the economic figures. Does that mean upcoming figures will be better. No. but someone investing will guess that the economy isn't going to drop 50% so maybe things aren't quite balanced. See LR's vulture posts.

[Gringo]

no idea on that snowychap but I guess the real big test will be this quarters figures if they show the same we are really in for a rough ride worse than many have predicted or we want

Time to ressurrect your predictions thread snowy before the pruners get it.