THE DOT - if this turns orange or red be alert

Wednesday, June 18, 2008

oil , steals and the next president approval committee

I just heard energy secretary, Samuel Bodman, telling the same pathetic argument again supply demand tight, thats why oil is so high. So the 260 bil index fund money getting in the last years had no impact?? Mr. Bodman worked for Fidelity (a big mutual fund company for a long time) thats very obscure he was part of the early version of (index funds) - strange that he left in 87 (the crash year) - but he has more the making of an lobbyist and was taking into his position in Jan 2005 - why would Mr. Bush change secrateries before the bull market for oil got into a bubble gear?
From there, Secretary Bodman went to Fidelity Venture Associates, a division of the Fidelity Investments. In 1983 he was named President and Chief Operating Officer of Fidelity Investments and a Director of the Fidelity Group of Mutual Funds. In 1987, he joined Cabot Corporation, a Boston-based Fortune 300 company with global business activities in specialty chemicals and materials, where he served as Chairman, Chief Executive Officer, and a Director.

Supply demand are the same we had last year 84,7 mil. barrel demand to 85 mil barrel a day supply - only the price was around 70$. Misleading information to put it diplomatically has become the standard in the Bush administration - well actually its more a global experience to be honest. The 'nice' thing is to lift the offshore-drilling ban before he leaves office - a nice present for his buddies from Texas to make some 'little' extra money.
JPMorgan Chase: We Got Bear Stearns on the Cheap
JPM's top investment banking executives conceded yesterday that their acquisition of Bear Stearns was worth far more than the rock-bottom $10 a share price they paid, but that the market turmoil is still taking a toll on investment-banking profits and may result in further layoffs, CNBC has learned.

JPM admitts that the purchase of BSC was a steal with help of the FED - that is a scandal by itself, since had the FED introduced the borrowing facility a few days earlier that would never have happened. The most amazing thing here is, in a congress hearing a few days earlier Bernanke said that it was not possible to open up that facility. The FED takes the hit for 29 bil. the 1 bil. JPM needs to pay in case of losses they make next year from operational profit. They sacked in something between 15-20 bil. in value .

The recent Bilderberger meeting was June 5-8
Chantilly, Virginia, United States
Since a crucial election is on the agenda and the biggest financial crisis in 80 years its an appropriate place to gather and mingle. In the above link is a discussion if Obama secretively joined the Bilderberg meeting since he landed at Dulles airport which is 3 miles away from
the Westfields Marriott Hotel in Chantilly, where Henry Kissinger and David Rockefeller, among other globalists, are gathered for the annual Bilderberg Group conference.


Additionally, a list of the conference's attendees was released and included James A. Johnson, who was named this week to the three-person team vetting possible running mates for Obama. Rampant speculation in the blogosphere says the Obama-Clinton meeting last night was held to arrange the New York senator as Obama's vice-presidential candidate.

Attendees at the Bilderberg conference included Secretary of State Condoleezza Rice, former Senate majority leader Tom Daschle and Ben Bernanke, the chairman of the board of governors for the Federal Reserve.

Hillary Clinton is no stranger to Bilderberg. Bill Clinton attended the 1991 meeting in Germany shortly before he was elected president. According to reports, he attended again in 1999 when the meeting was held in Sintra, Portugal, and Hillary herself may have attended the 2006 meeting in Ottawa, Canada.

"Why were we not told about this meeting until we were on the plane, the doors were shut and the plane was about to taxi to take off?" one reporter asked Obama spokesman Gibbs in a heated exchange caught on camera by CNN.

"Senator Obama had a desire to do some meetings, others had a desire to meet with him tonight in a private way, and that is what we are doing." Gibbs replied.

"Is there more than one meeting, is there more than one person with whom he is meeting?" asked another reporter.

"I am not going to get into all the details of the meeting." Gibbs replied.

Obama's spokesman explained the Clinton meeting was not planned in advance, and it was a last minute decision to attend.

The above mentioned Mr. Johnson (ex CEO of Fannie Mae who left in a scandal) was fired from the Obama committee because of another scandal involving favors from Countrywide.
excerpt from the NYT

Obama Aide Quits Under Fire for His Business Ties

read the article since mostly the next president is invited to the meeting first time, I am pretty sure McCain or Obama will be invited . It seems Obama was invited but in a not official way.

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