RBS bankers joked about destroying the US housing market By Rob Davies


RBS bankers joked about destroying the US housing market
By Editor August 16, 2018
http://www.theeventchronicle.com/finanace/rbs-bankers-joked-about-destroying-the-us-housing-market/


A boarded up building in Cleveland, Ohio, in January 2008. In the build up to the crisis mortgage lenders were incentivised to make as many loans as possible. Photograph: Timothy A. Clary/AFP/Getty Images
Transcripts of pre-financial crisis conversations show senior bankers’ disregard for customers

By Rob Davies

RBS bankers joked about destroying the US housing market after making millions by trading loans that staff described as “total fucking garbage”, according to transcripts released as part of a $4.9bn (£3.8bn) settlement with US prosecutors.

Details of internal conversations at the bank emerged just weeks before the 10-year anniversary of the financial crisis, which saw RBS rescued with a £45bn bailout from the UK government.

The US Department of Justice (DoJ) criticised RBS over its trade in residential mortgage backed securities (RMBS) – financial instruments underwritten by risky home loans that are cited as pivotal in the global banking crash.

It said the bank made “false and misleading representations” to investors in order to sell more of the RMBS, which are forecast to result in losses of $55bn to investors.

Transcripts published alongside the settlement reveal the attitude among senior bankers at RBS towards some of the products they sold.

The bank’s chief credit officer in the US referred to selling investors products backed by “total fucking garbage” loans with “fraud [that]was so rampant … [and]all random”.

He added that “the loans are all disguised to, you know, look okay kind of … in a data file.”

The DoJ said senior RBS executives “showed little regard for their misconduct and, internally, made light of it”.

In one exchange, as the extent of the contagion in the banking industry was becoming clear, RBS’ head trader received a call from a friend who said: “[I’m] sure your parents never imagine[d]they’d raise a son who [would]destroy the housing market in the richest nation on the planet.”

He responded: “I take exception to the word ‘destroy.’ I am more comfortable with ‘severely damage.’”

Another senior banker explained to a colleague that risky loans were the result of a broken mortgage industry that meant lenders were “raking in the money” and were incentivised to make as many loans as possible.

Employees who might raise the alarm about the riskiness of such lending “don’t give a shit because they’re not getting paid”, he said.

The bank made “hundreds of millions of dollars” from selling RMBS, the DoJ said, while disguising the risk they posed to investors, which included a group of nuns who lost 96% of their investment.

By October 2007, as signs of stress began to show in the banking system, RBS’ chief credit officer wrote to colleagues expressing his true feelings about the burgeoning volume of subprime loans in the housing market.

He said loans were being pushed by “every possible … style of scumbag”, adding that it was “like quasi-organised crime”.

“Nobody seems to care,” he added.
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The DoJ criticised RBS’ failure to do due diligence on the loans it was packaging, saying the bank feared it would lose out to rivals if it performed stricter tests.

One analyst at the lender referred to the bank’s due diligence procedures as “just a bunch of bullshit”, according to the transcripts.

When the bank became concerned about the poor quality of loans and started imposing tighter due diligence, one senior banker complained, saying: “Oh, God. Does anyone want to make money around here any more?”

RBS expected to make $20m from one deal that involved trading particularly risky loans, but faced resistance from the bank’s chief credit officer.

A senior executive responded to the concerns by telling the bank’s head trader: “Please don’t fuckin’ blow this one. We need every dollar we can get our hands on.”

Internal conversations between bankers also offer some insight into their growing realisation of the poor quality of the loans the bank owned and sold.

In September 2007, one trader referred to an appraisal of loans as giving “pretty shitty results”.

The transcripts were released by the DoJ as it confirmed the details of the settlement with the bank over its trading in RMBS.

RBS said: “Under the terms of the settlement, RBS disputes the allegations but will not set out a legal defence, while the settlement does not constitute a judicial finding.”

Certainty over the scale of the settlement will allow the bank to pay its first dividend in a decade this year.

The dividend is worth £240m and the Treasury will receive £149m as RBS is still 62%-owned by the government.

Ross McEwan, RBS chief executive, said: “This settlement dates back to the period between 2005 and 2007. There is no place for the sort of unacceptable behaviour alleged by the DoJ at the bank we are building today.”

He added that the bank could now “focus our energy on serving our customers better”.

But league tables published by the Competition and Markets Authority on Wednesday placed RBS joint bottom for customer service, with fewer than half of customers saying they would recommend the bank to a friend.

RBS will have to publish the results in branches, on its website and mobile app from today.

This article (RBS bankers joked about destroying the US housing market) was originally published on The Guardian and syndicated by The Event Chronicle.

SC Business Warns Those Preying on Hurricane Victims: ‘Looters Will Be Shot’



September 12, 2018 in Myrtle Beach, United … Joe Raedle/Getty Images

SC Business Warns Those Preying on Hurricane Victims: ‘Looters Will Be Shot’
https://www.breitbart.com/big-government/2018/09/14/sc-business-warns-preying-hurricane-victims-looters-shot/

MYRTLE BEACH, SC – SEPTEMBER 12: Doug Lewis (L) and Chris Williams use plywood with the words ‘Looters will be shot’ to cover the windows of Knuckleheads bar as they try to protect the business ahead of the arrival of Hurricane Florence on September 12, 2018 in Myrtle Beach, United … Joe Raedle/Getty Images
14 Sep 20181,319
A South Carolina business is warning those who would prey on hurricane victims that “looters will be shot.”
CNN published a photos of Knuckleheads Bar & Grill in Mytle Beach. The exterior windows are covered in plywood and the plywood is emblazoned with large spray-painted letters that say, “looters will be shot.”


South Carolina Gov. Henry McMaster said that anyone who loots during Hurricane Florence will be shown “no mercy” by law enforcement.

“This is gonna be a very trying period,” he said at a Friday news conference. https://cnn.it/2Na7HFn

4:23 PM – Sep 14, 2018

South Carolina governor: Looters will be shown “no mercy”
South Carolina Governor Henry McMaster said that anyone who loots during Hurricane Florence will be shown “no mercy” by law enforcement.

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Gov. Henry McMaster (R) is also warning would-be looters that they will be shown “no mercy” if caught targeting businesses during Hurricane Florence.

He warned residents that Florence is slow moving and will sit over the area “for about two days.” During that time, and the time thereafter, McMaster made clear that law enforcement will show “no mercy” to those caught looting businesses and/or homes.

WWAY reports that a number of looters have already been arrested in Wilmington, North Carolina. Brunswick County Sheriff John Ingram said he handled the incidents in way that will “send a message.”

Ingram said, “I want to send a message to the criminal element that’s looking for that opportunity, we’re gonna do everything within our power, to be very vigilant, working with our community, and if you seek to prey upon the citizens of Brunswick County, we’re going to do everything we can to lock you up. I made sure ahead of time, that we had adequate space for anybody that wanted to try that.”

AWR Hawkins is an award-winning Second Amendment columnist for Breitbart News, the host of the Breitbart podcast Bullets with AWR Hawkins, and the writer/curator of Down Range with AWR Hawkins, a weekly newsletter focused on all things Second Amendment, also for Breitbart News. He is the political analyst for Armed American Radio. Follow him on Twitter: @AWRHawkins. Reach him directly at awrhawkins@breitbart.com. Sign up to get Down Range at breitbart.com/downrange.

A ‘Warning to Parents to Shut Up’: Christian Doc Investigated for Posting About Transgender Indoctrination 08-03-2018 Donna Russell



A ‘Warning to Parents to Shut Up’: Christian Doc Investigated for Posting About Transgender Indoctrination
08-03-2018
Donna Russell
http://www1.cbn.com/cbnnews/world/2018/august/a-warning-to-parents-to-shut-up-christian-doc-investigated-for-posting-about-transgender-indoctrination

A Christian doctor retweets a post by a conservative politician and finds himself in trouble for it. Australian conservative politician Lyle Shelton calls it “persecution of a family doctor,” saying it’s a “warning to parents to shut up.”

Dr. David van Gend is a general practitioner from Toowoomba in Queensland, Australia. He reposted tweets by Shelton, both with comments critical of the transgender indoctrination of children and of “gender fluidity” classes in Australian schools.

Months later he was informed a complaint was filed against him with The Australian Health Practitioner Regulation Agency (AHPRA) and that he was under investigation.

Feds: School District Violated Transgender Teen’s Rights

What’s to Hide? School Board Sues to Conceal Transgender Policy

Fired: Teacher Resists Transgender Label for Pupil
One of the retweeted posts by Shelton included a picture of him with the Heritage Foundation’s Ryan Anderson who wrote the book When Harry Becomes Sally: Responding to the Transgender Moment.

“Not long ago, most Americans had never heard of transgender identity, but within the space of a year it became a cause claiming the mantle of civil rights,” Anderson says in his book. “A discordant gender identity is said to represent who the person really is, by contrast with the sex ‘assigned at birth,’ and therefore any failure to accept and support a transgender identity amounts to bigotry. We are told that not treating people as the gender they claim to be is discriminatory.”

That sort of alleged discrimination is what the AHPRA is investigating. The doctor must explain his actions in writing to the health regulatory agency and argue how his retweets “promote the ‘health of the community’ and ‘advances the health and wellbeing of individual patients.'”

Shelton is coming to van Gend’s defense.

“If the Medical Board can punish a medical professional for questioning that children’s gender is fluid, God help the parents who try and protect their kids from being indoctrinated at school,” Shelton said in a statement. “If the Medical Board is so confident that children’s gender is fluid, why doesn’t it allow discussion and debate? Why must it use its power to crush even the questioning of contested science? It is much easier to shut people up than to have a proper discussion but sadly free speech is not the way of modern politically correct elites.”

Miranda Devine, a conservative columnist and blogger with The Daily Telegraph is writing in his defense as well.

“Van Gend, a conservative Christian, retweeted these tweets without comment. That is the sum total of his offending,” said Devine.

“AHPRA is a mighty body with powers to prosecute, involve police and apply criminal sanctions to doctors who transgress medical ethics and the law. It was designed to stop killers, incompetents and charlatans who endanger lives, not to stop private citizens with medical degrees from expressing their opinions,” she wrote.

“What makes this case all the more sinister is the fact the Board now wants to apply even more repressive speech controls on medicos,” she warned. “It is drafting an Orwellian revision to its code of conduct which would use the threat of deregistration to silence dissenting doctors who speak out — or even silently retweet — on contentious topics from euthanasia to gender reassignment in children.”

Are You Confused About 5G, The Military’s Microwave Weapon? By Catherine J. Frompovich


Are You Confused About 5G, The Military’s Microwave Weapon?

TOPICS:5GCatherine FrompovichMicrowavesMilitary
https://www.activistpost.com/2018/08/are-you-confused-about-5g-the-militarys-microwave-weapon.html
August 31, 2018

By Catherine J. Frompovich

High tech, “smart” appliance, smart phone and faster-Internet services consumers probably don’t know what they are asking for when they support, and look forward to, faster Internet service and upgrades to 5G millimeter wave Wi-Fi service, which basically is a commercial grade of the U.S. military’s “Directed Energy Weapon” [DEW].

As you view the informative videos below, keep notes of what is said about how 5G will affect human tissue, or the human body.

Cell Phone 5G Frequencies Also Used In Military Weapons! Sharon Noble
Canadian Report Aug. 29, 2017
The Goddard Report
32:46 minutes

Is 5g a military weapon?
3:50 minutes

5G – A Directed Energy Weapon – Will Be Used To Control People
6:11 minutes


Leaked 5G Memo, Spooky Patents, Mind Control & Directed Energy Weapons
[In this video, the host becomes a little ‘emotional’ about what he finds.]
Patents & Mind Control Discussed starting around 19:03 minutes on the timeline
Method and device for producing a desired brain state Patent
Pulsative manipulation of the nervous system Patent
Multifunctional radiofrequency directed energy system Patent
Method and device for implementing the radio frequency hearing effect Patent
30:08 minutes

Do high tech consumers really know what they are clamoring for?

However, there seems to be some sort of ‘favoritism’ going on with regard to 5G exemptions. The posh town of Palm Beach, Florida, is one of them.

Hence, “Town Manager Tom Bradford said Tuesday that Palm Beach and some other coastal communities have been exempted from legislation that would limit local control on the installation of 5G transmission equipment.”

This remark, “The exemption or ‘carve out’ is welcome news in Palm Beach, where Bradford and Mayor Gail Coniglio have warned the new law would be an aesthetic disaster,” which seems rather “pedestrian” in view of the fact the town seems more concerned about aesthetics rather than human health issues!

The Palm Beach Daily News discusses the issue here, which I think ought to become a “playbook” strategy for everyone to lobby for, introduce and obtain 5G exemptions for their neighborhoods, communities and wherever.

Catherine J Frompovich (website) is a retired natural nutritionist who earned advanced degrees in Nutrition and Holistic Health Sciences, Certification in Orthomolecular Theory and Practice plus Paralegal Studies. Her work has been published in national and airline magazines since the early 1980s. Catherine authored numerous books on health issues along with co-authoring papers and monographs with physicians, nurses, and holistic healthcare professionals. She has been a consumer healthcare researcher 35 years and counting.

Catherine’s latest book, published October 4, 2013, is Vaccination Voodoo, What YOU Don’t Know About Vaccines, available on Amazon.com.

Her 2012 book A Cancer Answer, Holistic BREAST Cancer Management, A Guide to Effective & Non-Toxic Treatments, is available on Amazon.com and as a Kindle eBook.

Two of Catherine’s more recent books on Amazon.com are Our Chemical Lives And The Hijacking Of Our DNA, A Probe Into What’s Probably Making Us Sick (2009) and Lord, How Can I Make It Through Grieving My Loss, An Inspirational Guide Through the Grieving Process (2008)

Catherine’s NEW book: Eat To Beat Disease, Foods Medicinal Qualities ©2016 Catherine J Frompovich is now available

Free ebook How To Survive the Job Automation Apocalypse
Free ebook How To Get Started with Bitcoin: Quick and Easy Beginner’s Guide

Texas Sheriff: Illegal Alien Choked Two Search-and-Rescue Dogs to Death Police say suspect used dogs own collars to cut off air supply



Texas Sheriff: Illegal Alien Choked Two Search-and-Rescue Dogs to Death
Police say suspect used dogs own collars to cut off air supply
Infowars.com – September 3, 2018
https://www.infowars.com/texas-sheriff-illegal-alien-choked-two-search-and-rescue-dogs-to-death/
Texas Sheriff: Illegal Alien Choked Two Search-and-Rescue Dogs to Death

Two search-and-rescue dogs were choked to death by an illegal alien Saturday during a police chase, a Texas sheriff has said.

In a statement issued Sunday, Aransas County Sheriff Bill Mills said the two dogs, trained to track missing persons with dementia and Alzheimer’s, were “destroyed” during the altercation.

“Sept. 1, 2018 in an area just north of Holiday Beach in Aransas County, two highly valued canines were destroyed by individuals believed to be in this country illegally,” Mills said on Facebook.

The incident began on Saturday morning when a truck fled the scene during an attempted traffic stop. After a short vehicle chase, roughly 14 to 16 people were seen fleeing from the vehicle.

“While most ‘Bail Outs’ end with detentions after exhaustive searches they do not show this level of aggressive behavior,” Mills added. “Serving as a reminder to officers yesterday afternoon that while we are still dealing with individuals who may have questionable immigration status these encounters can turn just as violent as any domestic dispute we respond to.”

The highly-trained canines, loaned to the department by a kennel in a nearby county, had not been taught to engage in aggressive behavior like normal police dogs.

“Rufugio [sic] County offered a canine unit to assist; they brought tracking dogs that were non aggressive, non-bite trained. We have used canines like these to ensure safety of individuals in events like this,” the department said. “We have other well-trained canine units that can defend themselves, but we consciously avoid deploying them off leash in environments like this.”

Police say after being located by the dogs, eight-year-old Grunt and three-year-old Nell, the suspect used their collars to choke off their air supply.

Mills says he now fears the number of Dementia and Alzheimer’s patients who may be negatively affected by the loss of the two dogs.

“And while every effort is being taken to insure everyone’s safety, we are reminded that not everyone we encounter shows the same level of respect for the rule of law and or life even for highly trained animals,” Mills added. “It was an afternoon that left me wondering how many lives of Dementia and Alzheimer’s individuals in the future may have been put at risk with the deaths of these two Canines.”

Mills says the six people arrested on scene, turned over to U.S. Customs and Border Protection, were originated from Guatemala, Honduras and Mexico.

As many as 10 others who fled the scene still remain at large.

“They’re behind bars.. right now, they’re not going to hurt anyone else,” kennel owner Joe Braman said. “That’s our main concern — I don’t want some innocent bystander to have been assaulted by these people because it’s apparent they have no respect for anyone, not even an animal.”