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| Topic: The Constitution Dies | |
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What's a cyber emergency? I would speculate that it could be anything from some talented hacker trying to firesale the Government or China doing their thing. I would say it's whatever the Puppetmasters decide it's going to be. They that can give up essential liberty to obtain a little temporary safety deserve neither safety nor liberty. -Benjamin Franklin He didn't know about the Taliban. sorry but the gov idea of safty is not safe i will keep my liberties plz if half the people in any mass execution caused by rouge gunman (vir tech, binghamton img center, columbine [staff] and any other ou can think of) were armed the gunman would not have killed nearly as many people if any and talaban would not be so dangerous if the u swas not trying to spread its ideas around the world ---- lets stop trying to tell everyone how to live their lives and i still have my doubts that wtc was an outside job smells like northwood to me |
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They that can give up essential liberty to obtain a little temporary safety deserve neither safety nor liberty. -Benjamin Franklin He didn't know about the Taliban. Well, may-be if he did, then he would say that: "They that can give up essential liberty to obtain a little temporary safety from some Taliban deserve neither safety nor liberty." |
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and talaban would not be so dangerous if the u swas not trying to spread its ideas around the world ---- lets stop trying to tell everyone how to live their lives May they be a little tired of tanks rolling through their land, always for "their freedom", whether they are Soviet or US tanks? May-be they are tired of being robbed of their hard work (yes, growing opium), by the most imposing nations there are, all under the pretense of delivering freedom, while only caring to take control of the poppy fields? Nah. They must be hating us for we are sooo free. |
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If Obama looked up what was in my computer right now...he would find 3 things;
Porn Guitar Lessons World of Warcraft 
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Nuclear Power Plants are operated by computers. Electrical Grids, High Tech spy-satellite monitoring sites, even the GPS Guidance systems on fighters, etc... The more technologically dependent we become the worse the threat. Cyber terrorism is a real threat to our National Security. Balderdash... Any SENSITIVE computer system(i.e Nuc Plants, Government systems, etc) should be ISOLATED from the net. Isolated as in NOT ATTACHED directly... NOT CAPABLE of recieving input from the net. Would solve a big part of that threat. |
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Today.
WASHINGTON (Reuters) – Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday. The spies came from China, Russia and other countries, and were believed to be on a mission to navigate the U.S. electrical system and its controls, the newspaper said, citing current and former U.S. national security officials. The intruders have not sought to damage the power grid or other key infrastructure but officials said they could try during a crisis or war, the paper said in a report on its website. "The Chinese have attempted to map our infrastructure, such as the electrical grid," a senior intelligence official told the Journal. "So have the Russians." The espionage appeared pervasive across the United States and does not target a particular company or region, said a former Department of Homeland Security official. "There are intrusions, and they are growing," the former official told the paper, referring to electrical systems. "There were a lot last year." The administration of U.S. President Barack Obama was not immediately available for comment on the newspaper report. Authorities investigating the intrusions have found software tools left behind that could be used to destroy infrastructure components, the senior intelligence official said. He added, "If we go to war with them, they will try to turn them on." Officials said water, sewage and other infrastructure systems also were at risk. Protecting the electrical grid and other infrastructure is a key part of the Obama administration's cybersecurity review, which is to be completed next week. The sophistication of the U.S. intrusions, which extend beyond electric to other key infrastructure systems, suggests that China and Russia are mainly responsible, according to intelligence officials and cybersecurity specialists. While terrorist groups could develop the ability to penetrate U.S. infrastructure, they do not appear to have yet mounted attacks, these officials say. |
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Balderdash... Any SENSITIVE computer system(i.e Nuc Plants, Government systems, etc) should be ISOLATED from the net. Isolated as in NOT ATTACHED directly... NOT CAPABLE of recieving input from the net. Would solve a big part of that threat. But, if we isolate the nuclear plants, isolate the collection of dummies we call department of defense, then, I ask you, how in the hell are we going to prove that the internet need to be controlled by the government? |
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And, most importantly, how are they going to be watching porn?
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Balderdash... Any SENSITIVE computer system(i.e Nuc Plants, Government systems, etc) should be ISOLATED from the net. Isolated as in NOT ATTACHED directly... NOT CAPABLE of recieving input from the net. Would solve a big part of that threat. But, if we isolate the nuclear plants, isolate the collection of dummies we call department of defense, then, I ask you, how in the hell are we going to prove that the internet need to be controlled by the government? LMAO!!!! Rediculous! |
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By **** Morris Apr 6, 2009 On April 2, 2009, the work of July 4, 1776, was nullified at the meeting of the G-20 in London. The joint communique essentially announces a global economic union with uniform regulations and bylaws for all nations, including the United States. Henceforth, our SEC, Commodities Trading Commission, Federal Reserve Board and other regulators will have to march to the beat of drums pounded by the Financial Stability Board (FSB), a body of central bankers from each of the G-20 states and the European Union. What Declaration of Independence? The mandate conferred on the FSB is remarkable for its scope and open-endedness. It is to set a "framework of internationally agreed high standards that a global financial system requires." These standards are to include the extension of "regulation and oversight to all systemically important financial institutions, instruments, and markets ... (including) systemically important hedge funds." Note the keyword: "all." If the FSB, in its international wisdom, considers an institution or company "systemically important," it may regulate and oversee it. This provision extends and internationalizes the proposals of the Obama administration to regulate all firms, in whatever sector of the economy, that it deems to be "too big to fail." The FSB is also charged with "implementing ... tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms." That means that the FSB will regulate how much executives are to be paid and will enforce its idea of corporate social responsibility at "all firms." The head of the Financial Stability Forum, the precursor to the new FSB, is Mario Draghi, Italy's central bank president. In a speech on Feb. 21, 2009, he gave us clues to his thinking. He noted that "the progress we have made in revising the global regulatory framework ... would have been unthinkable just months ago." He said that "every financial institution capable of creating systemic risk will be subject to supervision." He adds that "it is envisaged that, at international level, the governance of financial institutions, executive compensation and the special duties of intermediaries to protect retail investors will be subject to explicit supervision." In remarks right before the London conference, Draghi said that while "I don't see the FSF (now the FSB) as a global regulator at the present time ... it should be a standard-setter that coordinates national agencies." This "coordination of national agencies" and the "setting" of "standards" is an explicit statement of the mandate the FSB will have over our national regulatory agencies. Obama, perhaps feeling guilty for the U.S. role in triggering the international crisis, has, indeed, given away the store. Now we may no longer look to presidential appointees, confirmed by the Senate, to make policy for our economy. These decisions will be made internationally. And Europe will dominate them. The FSF and, presumably, the FSB is now composed of the central bankers of Australia, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States, plus representatives of the World Bank, the European Union, the IMF and the Organization for Economic Co-operation and Development (OECD). Europe, in other words, has six of the 12 national members. The G-20 will enlarge the FSB to include all its member nations, but the pro-European bias will be clear. The United States, with a gross domestic product three times that of the next largest G-20 member (Japan), will have one vote. So will Italy. The Europeans have been trying to get their hands on our financial system for decades. It is essential to them that they rein in American free enterprise so that their socialist heaven will not be polluted by vices such as the profit motive. Now, with President Obama's approval, they have done it. About National Ledger •About Us •Columnists •Contact Us •Submissions •Search •Links •Blogs More Important Links •User Terms •Privacy Policy •Advertising Policy •Contact Us *An Eclectic Mix Is: Original analysis and coverage of news, pop culture, politics, the crime beat, the DC Journal, sports, entertainment, breaking weather and the issues of the day. Home | Pop Culture | News | Crime Beat | DC Journal | Ledger Pop Journal | Ledger DC Journal FEEDS: News | Pop Culture | Ledger Pop | Ledger DC ©2004 - 2009 - All Rights Reserved. The National Ledger, LLC nationalledger.com Related ArticlesNational Ledger - DC Mix: Obama's Aunt in Court (Video) GM CEO Retirement ...By Tim Morgan... Apr 4, 2009... The General Motors Corp. (GM CEO) chief's removal as a condition of possible ...MORENational Ledger - The Peter Pan SyndromeBy Mike Bates... Nov 13, 2008... Author J. M. Barrie gave literature Peter Pan, the boy who refused to grow ... |
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I guess that ended this thread.
Praise be to the Messiah,PM Obama, if they appoint him, knowing he's a sell-out. |
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Again - Today.
WASHINGTON (Reuters) – Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday. The spies came from China, Russia and other countries, and were believed to be on a mission to navigate the U.S. electrical system and its controls, the newspaper said, citing current and former U.S. national security officials. The intruders have not sought to damage the power grid or other key infrastructure but officials said they could try during a crisis or war, the paper said in a report on its website. "The Chinese have attempted to map our infrastructure, such as the electrical grid," a senior intelligence official told the Journal. "So have the Russians." ............. |
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Sorry to say, it'll probably go through. We're surrounded by passive, liberals who believe the Messiah BHO, is no threat to our liberties. He is the one in power at this moment. If it were anyone else attempting this, I'd have the same opinion. There are ways to voice outrage and if some issue comes up, I push for action. Yes, debating pros and cons is a good thing but, I've been taught, to seek solutions also. Too many people just hang on whatever the party line is and refuse to see beyond those trees to view the forest. I can't understand why they don't see. No matter, Rep or Dem, they are both herding us to the same outcome. AMEN BROTHER!!! |
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Again - Today. WASHINGTON (Reuters) – Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday. The spies came from China, Russia and other countries, and were believed to be on a mission to navigate the U.S. electrical system and its controls, the newspaper said, citing current and former U.S. national security officials. The intruders have not sought to damage the power grid or other key infrastructure but officials said they could try during a crisis or war, the paper said in a report on its website. "The Chinese have attempted to map our infrastructure, such as the electrical grid," a senior intelligence official told the Journal. "So have the Russians." ............. Interesting. Interesting things were happening during the Iraq war with our electronic intelligence too. |
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Again - Today. WASHINGTON (Reuters) – Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday. The spies came from China, Russia and other countries, and were believed to be on a mission to navigate the U.S. electrical system and its controls, the newspaper said, citing current and former U.S. national security officials. The intruders have not sought to damage the power grid or other key infrastructure but officials said they could try during a crisis or war, the paper said in a report on its website. "The Chinese have attempted to map our infrastructure, such as the electrical grid," a senior intelligence official told the Journal. "So have the Russians." ............. Interesting. Interesting things were happening during the Iraq war with our electronic intelligence too. That could explain this part of the article that I posted: "Protecting the electrical grid and other infrastructure is a key part of the Obama administration's cybersecurity review, which is to be completed next week." |
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By **** Morris Apr 6, 2009 On April 2, 2009, the work of July 4, 1776, was nullified at the meeting of the G-20 in London. The joint communique essentially announces a global economic union with uniform regulations and bylaws for all nations, including the United States. Henceforth, our SEC, Commodities Trading Commission, Federal Reserve Board and other regulators will have to march to the beat of drums pounded by the Financial Stability Board (FSB), a body of central bankers from each of the G-20 states and the European Union. What Declaration of Independence? The mandate conferred on the FSB is remarkable for its scope and open-endedness. It is to set a "framework of internationally agreed high standards that a global financial system requires." These standards are to include the extension of "regulation and oversight to all systemically important financial institutions, instruments, and markets ... (including) systemically important hedge funds." Note the keyword: "all." If the FSB, in its international wisdom, considers an institution or company "systemically important," it may regulate and oversee it. This provision extends and internationalizes the proposals of the Obama administration to regulate all firms, in whatever sector of the economy, that it deems to be "too big to fail." The FSB is also charged with "implementing ... tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms." That means that the FSB will regulate how much executives are to be paid and will enforce its idea of corporate social responsibility at "all firms." The head of the Financial Stability Forum, the precursor to the new FSB, is Mario Draghi, Italy's central bank president. In a speech on Feb. 21, 2009, he gave us clues to his thinking. He noted that "the progress we have made in revising the global regulatory framework ... would have been unthinkable just months ago." He said that "every financial institution capable of creating systemic risk will be subject to supervision." He adds that "it is envisaged that, at international level, the governance of financial institutions, executive compensation and the special duties of intermediaries to protect retail investors will be subject to explicit supervision." In remarks right before the London conference, Draghi said that while "I don't see the FSF (now the FSB) as a global regulator at the present time ... it should be a standard-setter that coordinates national agencies." This "coordination of national agencies" and the "setting" of "standards" is an explicit statement of the mandate the FSB will have over our national regulatory agencies. Obama, perhaps feeling guilty for the U.S. role in triggering the international crisis, has, indeed, given away the store. Now we may no longer look to presidential appointees, confirmed by the Senate, to make policy for our economy. These decisions will be made internationally. And Europe will dominate them. The FSF and, presumably, the FSB is now composed of the central bankers of Australia, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States, plus representatives of the World Bank, the European Union, the IMF and the Organization for Economic Co-operation and Development (OECD). Europe, in other words, has six of the 12 national members. The G-20 will enlarge the FSB to include all its member nations, but the pro-European bias will be clear. The United States, with a gross domestic product three times that of the next largest G-20 member (Japan), will have one vote. So will Italy. The Europeans have been trying to get their hands on our financial system for decades. It is essential to them that they rein in American free enterprise so that their socialist heaven will not be polluted by vices such as the profit motive. Now, with President Obama's approval, they have done it. About National Ledger •About Us •Columnists •Contact Us •Submissions •Search •Links •Blogs More Important Links •User Terms •Privacy Policy •Advertising Policy •Contact Us *An Eclectic Mix Is: Original analysis and coverage of news, pop culture, politics, the crime beat, the DC Journal, sports, entertainment, breaking weather and the issues of the day. Home | Pop Culture | News | Crime Beat | DC Journal | Ledger Pop Journal | Ledger DC Journal FEEDS: News | Pop Culture | Ledger Pop | Ledger DC ©2004 - 2009 - All Rights Reserved. The National Ledger, LLC nationalledger.com Related ArticlesNational Ledger - DC Mix: Obama's Aunt in Court (Video) GM CEO Retirement ...By Tim Morgan... Apr 4, 2009... The General Motors Corp. (GM CEO) chief's removal as a condition of possible ...MORENational Ledger - The Peter Pan SyndromeBy Mike Bates... Nov 13, 2008... Author J. M. Barrie gave literature Peter Pan, the boy who refused to grow ... May I copy this to start a new thread, DB? |
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Again - Today. WASHINGTON (Reuters) – Cyberspies have penetrated the U.S. electrical grid and left behind software programs that could be used to disrupt the system, the Wall Street Journal reported on Wednesday. The spies came from China, Russia and other countries, and were believed to be on a mission to navigate the U.S. electrical system and its controls, the newspaper said, citing current and former U.S. national security officials. The intruders have not sought to damage the power grid or other key infrastructure but officials said they could try during a crisis or war, the paper said in a report on its website. "The Chinese have attempted to map our infrastructure, such as the electrical grid," a senior intelligence official told the Journal. "So have the Russians." ............. Interesting. Interesting things were happening during the Iraq war with our electronic intelligence too. That could explain this part of the article that I posted: "Protecting the electrical grid and other infrastructure is a key part of the Obama administration's cybersecurity review, which is to be completed next week." It could be worse. Like the Chinese blocking our GPS links while simultaneously attacking our nearest fleet! |
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By **** Morris Apr 6, 2009 On April 2, 2009, the work of July 4, 1776, was nullified at the meeting of the G-20 in London. The joint communique essentially announces a global economic union with uniform regulations and bylaws for all nations, including the United States. Henceforth, our SEC, Commodities Trading Commission, Federal Reserve Board and other regulators will have to march to the beat of drums pounded by the Financial Stability Board (FSB), a body of central bankers from each of the G-20 states and the European Union. What Declaration of Independence? The mandate conferred on the FSB is remarkable for its scope and open-endedness. It is to set a "framework of internationally agreed high standards that a global financial system requires." These standards are to include the extension of "regulation and oversight to all systemically important financial institutions, instruments, and markets ... (including) systemically important hedge funds." Note the keyword: "all." If the FSB, in its international wisdom, considers an institution or company "systemically important," it may regulate and oversee it. This provision extends and internationalizes the proposals of the Obama administration to regulate all firms, in whatever sector of the economy, that it deems to be "too big to fail." The FSB is also charged with "implementing ... tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms." That means that the FSB will regulate how much executives are to be paid and will enforce its idea of corporate social responsibility at "all firms." The head of the Financial Stability Forum, the precursor to the new FSB, is Mario Draghi, Italy's central bank president. In a speech on Feb. 21, 2009, he gave us clues to his thinking. He noted that "the progress we have made in revising the global regulatory framework ... would have been unthinkable just months ago." He said that "every financial institution capable of creating systemic risk will be subject to supervision." He adds that "it is envisaged that, at international level, the governance of financial institutions, executive compensation and the special duties of intermediaries to protect retail investors will be subject to explicit supervision." In remarks right before the London conference, Draghi said that while "I don't see the FSF (now the FSB) as a global regulator at the present time ... it should be a standard-setter that coordinates national agencies." This "coordination of national agencies" and the "setting" of "standards" is an explicit statement of the mandate the FSB will have over our national regulatory agencies. Obama, perhaps feeling guilty for the U.S. role in triggering the international crisis, has, indeed, given away the store. Now we may no longer look to presidential appointees, confirmed by the Senate, to make policy for our economy. These decisions will be made internationally. And Europe will dominate them. The FSF and, presumably, the FSB is now composed of the central bankers of Australia, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States, plus representatives of the World Bank, the European Union, the IMF and the Organization for Economic Co-operation and Development (OECD). Europe, in other words, has six of the 12 national members. The G-20 will enlarge the FSB to include all its member nations, but the pro-European bias will be clear. The United States, with a gross domestic product three times that of the next largest G-20 member (Japan), will have one vote. So will Italy. The Europeans have been trying to get their hands on our financial system for decades. It is essential to them that they rein in American free enterprise so that their socialist heaven will not be polluted by vices such as the profit motive. Now, with President Obama's approval, they have done it. About National Ledger •About Us •Columnists •Contact Us •Submissions •Search •Links •Blogs More Important Links •User Terms •Privacy Policy •Advertising Policy •Contact Us *An Eclectic Mix Is: Original analysis and coverage of news, pop culture, politics, the crime beat, the DC Journal, sports, entertainment, breaking weather and the issues of the day. Home | Pop Culture | News | Crime Beat | DC Journal | Ledger Pop Journal | Ledger DC Journal FEEDS: News | Pop Culture | Ledger Pop | Ledger DC ©2004 - 2009 - All Rights Reserved. The National Ledger, LLC nationalledger.com Related ArticlesNational Ledger - DC Mix: Obama's Aunt in Court (Video) GM CEO Retirement ...By Tim Morgan... Apr 4, 2009... The General Motors Corp. (GM CEO) chief's removal as a condition of possible ...MORENational Ledger - The Peter Pan SyndromeBy Mike Bates... Nov 13, 2008... Author J. M. Barrie gave literature Peter Pan, the boy who refused to grow ... May I copy this to start a new thread, DB? Sorry, It's getting covered up. I'm going to start a new thread with it. |
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By **** Morris Apr 6, 2009 On April 2, 2009, the work of July 4, 1776, was nullified at the meeting of the G-20 in London. The joint communique essentially announces a global economic union with uniform regulations and bylaws for all nations, including the United States. Henceforth, our SEC, Commodities Trading Commission, Federal Reserve Board and other regulators will have to march to the beat of drums pounded by the Financial Stability Board (FSB), a body of central bankers from each of the G-20 states and the European Union. What Declaration of Independence? The mandate conferred on the FSB is remarkable for its scope and open-endedness. It is to set a "framework of internationally agreed high standards that a global financial system requires." These standards are to include the extension of "regulation and oversight to all systemically important financial institutions, instruments, and markets ... (including) systemically important hedge funds." Note the keyword: "all." If the FSB, in its international wisdom, considers an institution or company "systemically important," it may regulate and oversee it. This provision extends and internationalizes the proposals of the Obama administration to regulate all firms, in whatever sector of the economy, that it deems to be "too big to fail." The FSB is also charged with "implementing ... tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms." That means that the FSB will regulate how much executives are to be paid and will enforce its idea of corporate social responsibility at "all firms." The head of the Financial Stability Forum, the precursor to the new FSB, is Mario Draghi, Italy's central bank president. In a speech on Feb. 21, 2009, he gave us clues to his thinking. He noted that "the progress we have made in revising the global regulatory framework ... would have been unthinkable just months ago." He said that "every financial institution capable of creating systemic risk will be subject to supervision." He adds that "it is envisaged that, at international level, the governance of financial institutions, executive compensation and the special duties of intermediaries to protect retail investors will be subject to explicit supervision." In remarks right before the London conference, Draghi said that while "I don't see the FSF (now the FSB) as a global regulator at the present time ... it should be a standard-setter that coordinates national agencies." This "coordination of national agencies" and the "setting" of "standards" is an explicit statement of the mandate the FSB will have over our national regulatory agencies. Obama, perhaps feeling guilty for the U.S. role in triggering the international crisis, has, indeed, given away the store. Now we may no longer look to presidential appointees, confirmed by the Senate, to make policy for our economy. These decisions will be made internationally. And Europe will dominate them. The FSF and, presumably, the FSB is now composed of the central bankers of Australia, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States, plus representatives of the World Bank, the European Union, the IMF and the Organization for Economic Co-operation and Development (OECD). Europe, in other words, has six of the 12 national members. The G-20 will enlarge the FSB to include all its member nations, but the pro-European bias will be clear. The United States, with a gross domestic product three times that of the next largest G-20 member (Japan), will have one vote. So will Italy. The Europeans have been trying to get their hands on our financial system for decades. It is essential to them that they rein in American free enterprise so that their socialist heaven will not be polluted by vices such as the profit motive. Now, with President Obama's approval, they have done it. About National Ledger •About Us •Columnists •Contact Us •Submissions •Search •Links •Blogs More Important Links •User Terms •Privacy Policy •Advertising Policy •Contact Us *An Eclectic Mix Is: Original analysis and coverage of news, pop culture, politics, the crime beat, the DC Journal, sports, entertainment, breaking weather and the issues of the day. Home | Pop Culture | News | Crime Beat | DC Journal | Ledger Pop Journal | Ledger DC Journal FEEDS: News | Pop Culture | Ledger Pop | Ledger DC ©2004 - 2009 - All Rights Reserved. The National Ledger, LLC nationalledger.com Related ArticlesNational Ledger - DC Mix: Obama's Aunt in Court (Video) GM CEO Retirement ...By Tim Morgan... Apr 4, 2009... The General Motors Corp. (GM CEO) chief's removal as a condition of possible ...MORENational Ledger - The Peter Pan SyndromeBy Mike Bates... Nov 13, 2008... Author J. M. Barrie gave literature Peter Pan, the boy who refused to grow ... May I copy this to start a new thread, DB? Sorry, It's getting covered up. I'm going to start a new thread with it. If he says yes. |
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By **** Morris Apr 6, 2009 On April 2, 2009, the work of July 4, 1776, was nullified at the meeting of the G-20 in London. The joint communique essentially announces a global economic union with uniform regulations and bylaws for all nations, including the United States. Henceforth, our SEC, Commodities Trading Commission, Federal Reserve Board and other regulators will have to march to the beat of drums pounded by the Financial Stability Board (FSB), a body of central bankers from each of the G-20 states and the European Union. What Declaration of Independence? The mandate conferred on the FSB is remarkable for its scope and open-endedness. It is to set a "framework of internationally agreed high standards that a global financial system requires." These standards are to include the extension of "regulation and oversight to all systemically important financial institutions, instruments, and markets ... (including) systemically important hedge funds." Note the keyword: "all." If the FSB, in its international wisdom, considers an institution or company "systemically important," it may regulate and oversee it. This provision extends and internationalizes the proposals of the Obama administration to regulate all firms, in whatever sector of the economy, that it deems to be "too big to fail." The FSB is also charged with "implementing ... tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms." That means that the FSB will regulate how much executives are to be paid and will enforce its idea of corporate social responsibility at "all firms." The head of the Financial Stability Forum, the precursor to the new FSB, is Mario Draghi, Italy's central bank president. In a speech on Feb. 21, 2009, he gave us clues to his thinking. He noted that "the progress we have made in revising the global regulatory framework ... would have been unthinkable just months ago." He said that "every financial institution capable of creating systemic risk will be subject to supervision." He adds that "it is envisaged that, at international level, the governance of financial institutions, executive compensation and the special duties of intermediaries to protect retail investors will be subject to explicit supervision." In remarks right before the London conference, Draghi said that while "I don't see the FSF (now the FSB) as a global regulator at the present time ... it should be a standard-setter that coordinates national agencies." This "coordination of national agencies" and the "setting" of "standards" is an explicit statement of the mandate the FSB will have over our national regulatory agencies. Obama, perhaps feeling guilty for the U.S. role in triggering the international crisis, has, indeed, given away the store. Now we may no longer look to presidential appointees, confirmed by the Senate, to make policy for our economy. These decisions will be made internationally. And Europe will dominate them. The FSF and, presumably, the FSB is now composed of the central bankers of Australia, Canada, France, Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States, plus representatives of the World Bank, the European Union, the IMF and the Organization for Economic Co-operation and Development (OECD). Europe, in other words, has six of the 12 national members. The G-20 will enlarge the FSB to include all its member nations, but the pro-European bias will be clear. The United States, with a gross domestic product three times that of the next largest G-20 member (Japan), will have one vote. So will Italy. The Europeans have been trying to get their hands on our financial system for decades. It is essential to them that they rein in American free enterprise so that their socialist heaven will not be polluted by vices such as the profit motive. Now, with President Obama's approval, they have done it. About National Ledger •About Us •Columnists •Contact Us •Submissions •Search •Links •Blogs More Important Links •User Terms •Privacy Policy •Advertising Policy •Contact Us *An Eclectic Mix Is: Original analysis and coverage of news, pop culture, politics, the crime beat, the DC Journal, sports, entertainment, breaking weather and the issues of the day. Home | Pop Culture | News | Crime Beat | DC Journal | Ledger Pop Journal | Ledger DC Journal FEEDS: News | Pop Culture | Ledger Pop | Ledger DC ©2004 - 2009 - All Rights Reserved. The National Ledger, LLC nationalledger.com Related ArticlesNational Ledger - DC Mix: Obama's Aunt in Court (Video) GM CEO Retirement ...By Tim Morgan... Apr 4, 2009... The General Motors Corp. (GM CEO) chief's removal as a condition of possible ...MORENational Ledger - The Peter Pan SyndromeBy Mike Bates... Nov 13, 2008... Author J. M. Barrie gave literature Peter Pan, the boy who refused to grow ... May I copy this to start a new thread, DB? Sorry, It's getting covered up. I'm going to start a new thread with it. If he says yes. This is the last line. He signed us away. Happy, now? Now, with President Obama's approval, they have done it. |
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