US Army Officer In Iraq Charge For Possessing Secret Military Document

A senior US Army officer in Iraq was found guilty of possessing thousands of secret military documents that the prosecution in his court martial argued could have benefited a foreign power.

Lieutenant-Colonel William Steele, 52, was acquitted on the more serious charge of aiding the enemy, which carried a sentence of life imprisonment, for allowing security detainees to use his mobile telephone for unmonitored calls.

He faces up to 10 years' imprisonment on the secret documents charge. He was also found guilty of having an inappropriate relationship with an Iraqi woman interpreter and refusing to obey an order.

Steele is the former commander of Camp Cropper, a US detention centre near Baghdad airport where he oversaw the detention of Saddam Hussein in the days leading up to the former Iraqi leader's execution on December 30.

Earlier, prosecutor Captain Michael Rizzotti told the court that nearly 12,000 secret documents had also been found in a search of Steele's living quarters in Camp Victory, the main US base in Baghdad.

"(They were) documents that if (they had) fallen into the wrong hands could be used to the injury of the United States or the advantage of a foreign nation. He did not get authority to take these documents," Rizzotti said.

Much of the trial was held in closed session because of the sensitive nature of the documents, but reporters were given a glimpse of one which contained aerial photographs of Kandahar airbase and Bagram airfield in Afghanistan.

The court also heard how Steele sent intimate emails to his interpreter Bahar Ahmed Suseyi, including one saying "there are a few things I need to do with you/to you" and planned to take her with him on a trip to Qatar.

The prosecution had argued that he openly favoured Suseyi over other interpreters and provided her with special privileges. Suseyi herself testified that she had a professional relationship with the colonel and thought of him as a friend.

Prosecutors struggled from the beginning to make the case of aiding the enemy, with the judge, Lieutenant-Colonel Timothy Grammel, warning at the start of the trial that they would have to prove that detainees still qualified as enemies.

Rizzotti told the court that in one instance Steele had allowed an al-Qaeda detainee, identified only as ISN 2184, "responsible for hundreds of deaths of coalition forces" to make a five minute unmonitored telephone call in Arabic.

"We'll never know who was called, we'll never know what was said. ... It's the equivalent of putting an AK-47 in his hand.

"He aided the enemy," Rizzotti said.

Steele opted not to testify, but his defence team argued that allowing detainees to use his mobile phone did not justify such a charge and that the prosecution had failed to prove that the detainees still posed a security threat.

He was the highest-ranking US officer to face a charge of aiding the enemy since Captain James Yee, a Muslim chaplain at Guantanamo Bay, was charged in September 2003. The army eventually dropped the case.

Steele had already pleaded guilty to three other charges, including one of possession of pornography, which each carry a maximum sentence of two years.

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O.J. Simpson's Accomplice, Charles Howard Cashmore Testifies Against Him


Charles Howard Cashmore an accomplice of O.J. Simpson in a raid on a hotel suite, will plead guilty to a reduced charge in exchange for testimony against the disgraced football legend and four other defendants.

He is expected to testify that two of his co-accused, Walter Alexander and Michael McClinton, were armed when they entered a Las Vegas hotel room with Simpson and confronted two sports memorabilia dealers, his lawyer Edward Miley said Friday.

"The only people with guns that he knew of were Alexander and McClinton," Miley said.

Robert Dennis Rentzer, Alexander's lawyer, declined to comment on the presence of a weapon during the Sept. 13 incident.

"I owe the district attorney an answer to that question before the press," he said.

Cashmore, who surrendered to police six days later, will plead guilty to being an accessory to robbery, Miley said. The reduced felony charge comes with a maximum five-year jail term.

"He was just in the wrong place at the wrong time," Miley said of Cashmore, a Las Vegas-area laborer, bartender and disc jockey.

Miley says Cashmore was unarmed during the alleged robbery and only met Simpson minutes before the men barged into the Palace Station Casino hotel room.

"O.J. says, 'Hey I've got to move some stuff, can you help?'" Miley said.

Simpson, 60, is charged with 11 criminal offences and could face life in prison if convicted.

According to police reports, Simpson and the other men entered the hotel room at gunpoint and ordered two collectors, Alfred Beardsley and Bruce Fromong, to hand over several items that Simpson claimed belonged to him.

Simpson maintains he was only trying to reclaim the sports memorabilia and that no weapons were used during the incident.

The collectibles taken from the room included football game balls signed by Simpson, Joe Montana lithographs, baseballs autographed by Pete Rose and Duke Snider and framed awards and plaques. The items have a collective valued of up to US$100,000.

The charges Simpson and at least three other men face include:

* Two counts of first-degree kidnapping
* Two counts of robbery with use of a deadly weapon
* Burglary while in possession of a deadly weapon
* Two counts of assault with a deadly weapon
* Conspiracy to commit kidnapping
* Conspiracy to commit robbery
* Conspiracy to commit a crime.

Simpson also faces a felony charge of coercion, alleging that he took a cellphone from Fromong. He is currently free on US$125,000 bail and is scheduled to return to court later this month.

Cashmore is scheduled to make a court appearance on Monday.

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In A Cave Or In The City, Where Is Osama Bin Laden?



Osama bin Laden could hide more easily in a city than a remote tribal region, a former Pakistani intelligence chief said on Tuesday, challenging the notion that the al Qaeda leader is probably holed up in a mountain cave.

Lieutenant-General Asad Durrani, former head of the powerful Inter-Services Intelligence agency (ISI), said news of outsiders' presence travels fast in the tribal areas and it would be hard to keep it secret for years.

"In the countryside or in tribal areas ... it's difficult to hide yourself because there people live ... and operate in a manner in which finding out about unusual presence is very important," Durrani told Reuters in an interview in London.

He said it was true that tribal customs placed great value on showing hospitality and not betraying a guest. "In the tribal code, anyone who seeks your protection has to be defended, if necessary with your life."

However, he added: "I am not sure over a period of four, five or six years that it would be possible even for the tribesmen to keep his presence under wraps."

Such information would have traveled or been divulged, given the incentives, Durrani said in a reference to the $25 million US bounty on bin Laden's head.

"My conclusion therefore is it's extremely unlikely that he is around that place."

On the run

In the six years since the September 11 attacks on the United States and subsequent US invasion of Afghanistan, Western intelligence officials have frequently said they suspect he is hiding somewhere in the inaccessible mountains along the Pakistan-Afghanistan border.

"This is a man on the run in a cave who is virtually impotent other than his ability to get these messages out," White House homeland security adviser Fran Townsend said last month when bin Laden issued his first new video for nearly three years.

Durrani said an urban centre could provide a better refuge.

"Why not a big city? Anywhere in Pakistan, Afghanistan. Anywhere outside the region where it is easier to keep cover," he said. "These are the places where you can hide yourself much better."

Other top al Qaeda figures associated with the September 11 attacks have been captured in Pakistani cities -- alleged plotter Ramzi Binalshibh in Karachi in September 2002 and self-confessed plan mastermind Khalid Sheikh Mohammed in Rawalpindi in March 2003.

Pakistan has seen an upsurge in violence since July, when militants scrapped a peace deal with authorities in the tribal region of North Waziristan and army commandos stormed a radical mosque in the capital, Islamabad. US intelligence officials fear al Qaeda is using the tribal areas as a safe haven in which to rebuild its strength.

Durrani said he was concerned that next week's expected court ruling on the whether President Pervez Musharraf is eligible for re-election and the return of exiled opposition leader Benazir Bhutto could provide a focus for further attacks.

"She (Bhutto) will have to take extraordinary security measures," he said.

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Wreckage Of Missing Plane Found In Central Washington

Ground searchers following the smell of fuel found the wreckage of a plane that crashed in the rugged central Washington Cascades, but neither the pilot nor nine skydivers aboard appeared to have survived.

Jim Hall, director of Yakima Valley Emergency Management, said all on board were believed dead, and that their families were notified.

Seven of the 10 on board "have been found deceased," Yakima County Sheriff Ken Irwin said in a statement, which also said recovery efforts had been suspended for the night but would resume Tuesday.

The aircraft was found about 7:40 p.m. PDT and searchers were able to verify by serial number that it was the missing aircraft, said Yakima Valley Emergency Management spokeswoman Tina Wilson.

The Cessna 208 Grand Caravan left Star, Idaho, near Boise, Sunday evening en route to Shelton, Wash., northwest of Olympia.

The plane was returning from a skydiving meet in Idaho when it crashed.

One man at a Red Cross center at White Pass said his 30-year-old son was aboard the plane. He displayed a family photo of the young man skydiving with a brother and sister.

"He worked hard and he played hard — we just want to find him," said the father, who did not give his name.

When members of the Tacoma Mountain Rescue Team came upon the wreckage they found that the tail section was separated from the rest of the plane, Wilson said. It has not been located.

The names of those aboard have not been released.

Based on radar transmissions and a hunter's report of seeing a plane flying low Sunday evening and then hearing a crash, the search was focused on a steep, densely forested area near White Pass, about 45 miles west of Yakima.

The search was centered in a relatively small area of 5-10 square miles along the north fork of the Tieton River.

Elaine Harvey, co-owner of the skydiving company Skydive Snohomish, told The Seattle Times that nine of the 10 aboard were either employees of her business or else licensed skydivers who considered Snohomish their "home drop zone."

Skydive Snohomish operates a training school and offers skydiving flights at Harvey Field in Snohomish County, about 20 miles north of Seattle.

Skydive Snohomish had nothing to do with the flight to Idaho or the event held there, Harvey said.

"These people were beloved friends," she told the Yakima Herald-Republic.

Harvey did not return telephone messages from The Associated Press seeking additional comment.

The plane was registered to Kapowsin Air Sports of Shelton, south of Seattle near Olympia.

Geoff Farrington, Kapowsin's co-owner, said the family-owned company had never before lost a plane. He also said the plane had never experienced mechanical problems.

The single-engine plane was built in 1994, according to FAA records.

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Silos,
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by Patrick Lencioni



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O.J Simpson To Give Up Memorabilia And Rolex Watch

O.J. Simpson has been ordered to give up a Rolex watch valued at up to $US22,000 ($25,000) and sports memorabilia as partial settlement of a multimillion-dollar judgment for the wrongful deaths of his former wife, Nicole Brown, and her friend, Ron Goldman.

Los Angeles Superior Court Judge Gerald Rosenberg ordered the former football star to turn over sports items that he is accused of having stolen in an armed robbery at a Las Vegas hotel in September.

Most of the items were taken from Simpson, 60, after he was charged with stealing his own sports memorabilia from collectors. They are in the custody of the Las Vegas police and include signed footballs and clothing.

In 1995, Simpson was acquitted of murdering his ex-wife and Ron Goldman, but a civil court jury found him responsible for their deaths and ordered him to pay their families $US33.5 million in damages.

"Mr Simpson is going to walk out of Las Vegas [broke]," David Cook, a lawyer for the Goldman family, told Reuters.

Cook said the Rolex watch, photographed on Simpson's wrist last month in Las Vegas, has a retail value of between $US5000 and $US22,000.

When or if Simpson comes into possession of the disputed items, they will be turned over for sale to the LA County Sheriff, Cook said. Proceeds would then go the Goldman family.

Tuesday's ruling marked the latest effort by the Goldman family efforts to collect on the civil judgment.

In July, the family acquired the rights to the controversial ghost-written book If I Did It - a hypothetical account of how Simpson might have carried out the killings. The book last week reached the No.2 spot on The New York Times list of non-fiction best sellers.

Also on Tuesday, the judge said Simpson must give the Goldman family any royalties he might earn from a video game that includes his likeness.

Representatives for Simpson, who is free on bail, were not immediately available for comment.

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Leonard Lauder Battling To Preserve World War Two Booty


Andrew Johnson

It started with a casual flip through an art book and is likely to end, 15 years later, in a courtroom with the billionaire philanthropist Leonard Lauder, scion of the Estee Lauder cosmetics empire, battling to keep a painting allegedly looted by the Nazis during the Second World War.

The painting is Blooming Meadow by Gustav Klimt, the Austrian symbolist painter whose work from the early years of the last century is now among the most highly valued and sought after in the world.

Blooming Meadow, created in 1905, is thought to be worth around £4m (NZ$10m), and currently hangs in the New York home of Mr Lauder, the son of Estee Lauder, and one of the world's richest men.

However, Georges Jorisch, 79, a retired shop owner from Montreal, says that the painting rightfully belongs to him.

He claims that it originally belonged to his grandmother - he remembers it hanging in her villa just outside Vienna as a boy - but was looted by the Nazis as the war engulfed Europe.

Mr Jorisch began his search for the painting in earnest in the early 1990s, after he saw a Klimt portrait of a relative in a Taschen art book.

But it wasn't until five years ago, when he employed the Los Angeles lawyer Randol Schoenberg, who specialises in tracing lost paintings, that the trail began to warm up.

"Georges's grandmother died in Lodz or in a death camp," Mr Schoenberg said.

"She had this terrible fate. Everything she owned was lost."

He added: "The standard of proof is 'what is most likely?'. Is it Georges' grandmother's painting or not? I can't say with 100 per cent certainty it is. But all the evidence is pointing in that direction. If they don't hand it over we'll file a lawsuit."

Mr Lauder's lawyer, Andrew Frackman, said: "If he presents the evidence we will do the right thing with regard to Mr Jorisch.

"We're very sympathetic to Holocaust survivors and we believe in the principle of restitution. But we can't just hand it over because Mr Jorisch says it is his."

The Art Newspaper reports that a new catalogue had identified the painting as belonging to the estate of Mr Jorisch's grandmother, Amalie Redlich.

It goes on to explain that the painting was originally acquired by her brother, Georges' great uncle, a steel magnate and friend of the artist.

His sister was given the painting on his death in 1928 and put it in storage in 1938, from where it is thought to have been looted.

The Redlich provenance has been unclear since an early monograph listing it as the "estate of Amalie Redlich" was later dropped by a catalogue.

After the war it was reportedly sold by a Viennese gallery to Rudolf Leopold, who sold it to the Manhattan dealer and collector Serge Sabarsky, from whom Mr Lauder bought it in 1983.

"It belongs to me," Mr Jorisch said.

"I remember it very well. My great uncle was a huge collector. It represents a lot of value. I am not a wealthy man."

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George Clooney And Sarah Larson Involved In A Motorcycle Accident

George Clooney and his companion were injured when their motorcycle collided with a car on a narrow road across the Hudson River from New York City.

Clooney suffered a broken rib and scrapes while his passenger, Sarah Larson, broke her foot in today's collision.

The two were treated at Palisades Medical Centre in North Bergen and released, Clooney's spokesman, Stan Rosenfield, said.

"He's doing fine," Rosenfield said. "He has a broken rib, it's very painful and it'll take a long time to heal."

The crash occurred as Clooney and Larson sped up to pass on the right a car that was preparing to make a right turn, said Weehawken police Sergeant Sean Kelly. Both were wearing helmets.

It was not known whether the car's driver, whose identity was not immediately released, used a turn signal, Kelly said. The accident was under investigation.



"It's a he-said, she-said right now, but you can't pass on the right in Weehawken or anywhere in Jersey," Kelly said.

Rosenfield said the accident occurred when the vehicle signalled a left-hand turn, but turned right and struck Clooney's motorcycle.

"The car signalled left. George was riding to the right. The driver decided to make an abrupt right turn and clipped George," Rosenfield said.

The 46-year-old actor was in the New York area to film the dark comedy "Burn After Reading," co-starring Brad Pitt, John Malkovich and Frances McDormand.

Clooney's recovery should not interrupt the production's schedule, Rosenfield said.

Clooney's latest film, "Michael Clayton," will be released next month. He and Larson have been spotted together at several film festivals and movie premieres in recent weeks.

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O. J Simpson Granted $125,000.00 Bail

Former football star O.J. Simpson appeared in court today and was granted bail for $125,000.00, ordered by the judge not to have any form of contact with any of the witnesses involved in the case and also ordered to surrender his passport to his attorney, following his arrest on sunday over an alleged robbery of sports memorabilia at a Las Vegas hotel last week.

Judge Joe Bonaventure set Simpson's bail at $125,000 and also ordered him to turn over his passport to his attorneys.

Clark County District Attorney David Rogers agreed to the bail, which defense attorney Yale Galanter said Simpson would pay immediately after the hearing.

Simpson was wearing a blue jail jumpsuit and handcuffs. He spoke only in direct response to Bonaventure's questions.

Galanter, a Florida lawyer, told the judge that he is not licensed to practice law in Nevada but had filed paperwork to gain the proper status.

Simpson will be arraigned the week of October 22, when he will plead not guilty to the charges, Galanter said.

The judge also told Simpson he must refrain from contacting any alleged victims, witnesses or co-defendants in the case.

The former football star will be allowed to return to his home in Miami, Florida, and elsewhere within the continental United States.

The charges include multiple counts of first-degree kidnapping with a weapon, robbery with a weapon, burglary with a weapon, coercion and conspiracy to commit kidnapping and robbery.

The kidnapping charges were added Tuesday.

Prosecutors contend Simpson and his co-defendants -- Walter Alexander, Clarence Stewart and Michael McClinton -- committed kidnapping because they intended to hold or detain the two alleged victims using a weapon.

Galanter said Tuesday his client has "a very substantial chance of being acquitted of those charges" and that "under the circumstances [Simpson] is doing well."

Galanter said Simpson would not respond to interview requests.

Simpson, 60, was arrested at his hotel Sunday morning and was held in jail without bail.

The items in the room where the alleged robbery took place included baseballs, plaques, a photo featuring J. Edgar Hoover and a mobile phone, a police report said.

Simpson has said that he entered the room with friends, one of whom was posing as a potential buyer, after being tipped off that some of his personal items were for sale there. He said his friends helped him carry the items from the room but said no guns were involved and denied a robbery occurred.

Police, however, said he orchestrated the incident and that the suspects had at least two guns, which authorities recovered during searches.

Simpson and his co-defendants are accused of pointing guns at Alfred Beardsley and Bruce Fromong and taking the memorabilia, along with Fromong's cell phone and Beardsley's baseball cap and sunglasses.

Beardsley told CNN's "Larry King Live" that he was contacted last month by Thomas Riccio -- a dealer and auctioneer of sports memorabilia -- who said he had a client who wanted to buy some high-end Simpson items and would pay top dollar for them. Beardsley then called Fromong, who gave him a list of items he could provide.

Meanwhile, Riccio told King he called Simpson, told him Beardsley and Fromong had the items and the two had agreed to go the hotel room together, but that the alleged robbery was Simpson's idea.

The two planned that Riccio would be in the room and would let Simpson in, Riccio said. But he said he was shocked when Simpson showed up to the Palace Station Hotel and Casino in Las Vegas with "two white guys and six black guys."

Riccio said he recorded an audiotape of the confrontation "because I've had problems in the past." In the recording, Simpson can be heard barking orders and profanities and repeatedly accusing someone of stealing his things


















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Nigerian May/June 2007 WAEC Results Released


After the processing of answer scripts of 1.2 million school candidates who sat for the May/June 2007 West African Senior School Examination (WASSCE) nationwide, the West African Examinations Council (WAEC) yesterday released the results of the May/June, 2007 West African Senior Secondary Certificate Examination (WASSCE).

At a press conference in Lagos, Mr Godwin Uzoigwe, Head, National Office of the Council, said that out of 1,275,330 candidates who sat for the examination, results of 956,497 have been released.

It was learnt that before the processing of the 1.2 million candidates results began, WAEC had in July 2007 marked the answer scripts in many centres with Lagos State recording the highest marking centres while Gombe and Kebbi states recorded the least.

Thousands of examiners, who marked the answer scripts of the school candidate exam in July, have since returned them to WAEC zonal offices to process and award grades to those who are expected to use the results for tertiary education this academic session.

Investigations revealed that WAEC staff are processing the Examiners Mark Sheet (EMS) at the various computer centres and the scanning of the objective answer scripts as well as the row marked sheets.

The Principal Public Affairs Officer of WAEC, Mr. Yusuf Ari, said that the coordination exercise for marking of the 1.2 million answer scripts ended in July and another phase of the exercise began immediately.
Check Your WAEC Results Here
In a related development, a state by state analysis of the 1,275,330 million candidates who sat for the school examination revealed that Lagos State presented the highest number of candidates with 165,534 while Gombe with 7,330 had the least.

The statistics of entry for the May/June 2007 WASSCE showed that some northern states due to the payment of the exam fees by the state governmenst recorded high number of presentation of candidates while the figures for the eastern states indicate a decline.

A breakdown of the number of candidates presented for the school exam are Imo 30,091, Rivers, 87,001, Oyo 60,679, Osun 36,887, Ondo 34,139, Ogun 48,860, Niger 22,827, Plateau 35,749, Sokoto 12,843, Taraba 15,028, Zamfara 12,406, Kwara 24,236, Kogi 49,840, Kebbi 8,996, Katsina 22,133, Kano 35,136, Kaduna 35,826, Jigawa 10,787.

Others are Ekiti 21,037, Edo 82,006, Ebonyi 32,202, Delta 24,941, Cross River 23,776, Borno 21,251, Benue 42,971, Bayelsa 12,995, Bauchi 10,811, Anambra 28,284, Akwa Ibom 51,518, Adamawa 25,197, Abuja 8,242, Abia 30,051, Yobe 13,847 and Enugu 40,634.

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Mr Godwin Uzoigwe said the results of 47,842 candidates were being investigated over alleged involvement in examination malpractice.

He also said the result of 318,833 candidates were still being processed due to errors made by the candidates during registration and examination.

According to him, 325,754 candidates obtained credit and above in English Language, Mathematics and three other subjects.

He also said that 37,635 candidates obtained credit and above in five subjects, but without English Language and Mathematics.

He added that 80,991 of the candidates were Science-oriented, 21,112 candidates, Social Science-based and 51,685, Art-oriented.

He also advised the candidates to check their results on the council's website: www.waecdirect.org, from September 16 2007.


He said that WAEC had compiled the reports of the cases of alleged malpractice for presentation to the Nigeria Examinations Committee of the council.

He said that the committee's decisions would be communicated to the affected candidates later.

Uzoigwe said that the council would establish a satellite office in Ikorodu and Badagry in Lagos State to decongest its Ikeja office in Lagos.

"Both offices will become operational from January 2008," Uzoigwe added. He gave the assurance that the council would continue to do its best to conduct credible and hitch-free examinations and ensure timely release of results.

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The Age of Turbulence: Adventures In A New World

Alan Greenspan

I started thinking about what was to become “The Age of Turbulence” two years ago. My nearly two decades as Federal Reserve Chairman were coming to an end - a remarkable experience. After a lifetime observing how the world works as a business economist on Wall Street, it was exhilarating to be at the center of international monetary policymaking. Sure, I’d been President Ford’s White House economic advisor in the mid-1970s, but nothing fully prepared me for what I faced when President Reagan nominated me Fed Chairman in June 1987. So, in the waning months of my Fed tenure, I started getting excited about having time to stand back and think about all I’d been through – the frightening stock market crash of 1987, the boom of the 1990s, the trauma of 9/11, the climactic end of the Cold War, all told, a cascade of events propelling a new world forward at warp speed.

There was also a personal story to tell. I’d known every president from Richard Nixon to Reagan, Ford, Bill Clinton and George W. Bush. And what about all those other assorted characters from my childhood in New York, my years as a jazz musician, my complete career switch to economics – and my friendship with Ayn Rand? I wanted to make the leap from writing economic analysis to writing in the first person about what I’d experienced. And after years of talking “Fedspeak” in carefully calibrated congressional testimony – I could finally use my own voice!

As I wrote “The Age of Turbulence,” I tackled the personal part first, but then started unraveling the detective story about the economy: what did all the economic shifts we began to detect in the late nineties mean? At the Fed, I had at first focused primarily on monetary policy – interest rates and the forces that determined their appropriate levels. But as the years rolled on, it became increasingly clear to me that we needed to understand an entirely new range of factors to implement policy effectively. I had had inklings of this new world, of course, but as I raced from one policy meeting to another, I never had time to sit back and think about all this. Was this a permanent change or just another technological evolution that would, with time, come to an end? Would the growing income inequality that seemed to be associated with this new paradigm create a backlash to the forces of globalization? And wasn’t this a dangerous trend for our democracy?

My term as Federal Reserve Chairman ended at midnight, January 31, 2006. The following morning, I started to write. You would think after all those years at the Fed and my earlier decades as an economist that I would have learned about as much as I could. But halfway through the book I realized that the story was leading me in surprising directions. I needed to refocus much of what I had written in my original drafts.

The final chapter was to forecast how I thought the world would work in the year 2030. But until I spent a year researching and writing and thinking about “The Age of Turbulence,” I had little idea how it would turn out. In fact, I was having so much fun rethinking some of my earlier assumptions, I was as anxious to read it as I hope my readers will be. In the end, I can confidently say writing that final chapter brought me—and the book—closure. It is not the grand finale of Beethoven’s Ninth, but for me, it hit the right chord.

Get A Copy of Alan Greenspan's The Age of Turbulence: Adventures in a New World

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Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy


The Two Faces Of Alan Greenspan

October 19, 1987, is known as Black Monday, the day the New York Stock Exchange suffered the worst crash in history, with a banf that echoed around the world. The Dow Jones Index (the Dow in short) then sank 22.6 percent, almost double the single-day drop in the motorious crash of 1929. From toronto to Tokyo. London to Sydney, Buenos Aires to Brasilia, share markets shed tears, mourning the demise of the Dow. Wall Street and investors across the globe agonized over a bleak future. They had been caught off guard, because no financial wizard had foreseen the debacle. But in one of financial history’s biggest ironies, Black Monday launched thebrilliant future of someone named Alan Greenspan It propelled him into glory and celebrity, giving him unprecedented influence over the global economy.

Barely two months before the disaster of dow, with large bipartisan support, Greenspan had been appointed the chairman of the Federal Reserve (the Fed in short), a coterie of 12 regional banks that control the levers of money supply in the United States. He came with no banking experience; his credentials as an econmist were considered by some to be mediocre, but he had foresight and business acumen that few can develop from their scholarship alone. He had not done any path-breaking work in economics, at least none that was commonly cited. Yet he was savvy enough to know when to open and shut the money pump that lubricates financial markets. He had made his marks through business forecasting, which had brought him close to big firms on wall street.

See Other Pages of Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy (Hardcover)

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O.J. Simpson To Sleep In Jail Tonight


Following investigation into an alleged armed robbery by O.J. Simpson, at a hotel in Las Vegas, the police arrested Simpson today.

While information on what he is being charged for are still streaming in, Las Vegas Police Capt. James Dillon said that Simpson could face felony charges including robbery with a deadly weapon, conspiracy to commit robbery and burglary with a firearm.

Simpson was arrested at his room in the Palms Casino Resort in Las Vegas, the source said.

On Saturday, Las Vegas police arrested Walter Alexander and seized two guns in connection with the alleged armed robbery, the source said.

"I don't know why they arrested him," Simpson said Sunday, before his own arrest. "I've stayed in contact with the police, and the truth will come out."

Simpson already had been questioned during the investigation into several items of sports memorabilia that were taken from collectors at a room in the Palace Station Hotel and Casino. Simpson has said the items belonged to him.

Alexander was arrested Saturday night and charged with two counts of robbery with a deadly weapon, one count of conspiracy to commit robbery with a deadly weapon and two counts of assault with a deadly weapon, the source said.

Alexander, a Nevada resident, was arrested on his way to McCarran International Airport, the source said.

During searches Saturday, police recovered two guns they say were used in the alleged robbery, the source said.

Simpson, 60, acknowledged that he entered a man's room with a group of friends, one of whom was posing as a potential buyer, after being tipped off that some of his personal items were for sale there.

Among the items were things he hadn't seen in years or that had been stolen, he said. They included photographs of his family and himself as a child, and photographs and negatives taken by his ex-wife, Nicole Brown Simpson.

Simpson said friends helped him carry the items from the room, but no guns were involved and the incident was not a robbery. VideoWatch a report on the latest developments in the probe »

On Saturday, Simpson said that he and one of the alleged victims, Alfred Beardsley, spoke on the telephone with each other and agreed the incident had been blown out of proportion.

Beardsley confirmed the conversation to celebrity Web site TMZ.com, saying Simpson apologized to him and told him he regretted the incident. The other alleged victim, Bruce Fromong, a sports memorabilia collector, said that two of the men accompanying Simpson pointed guns at the other occupants of the room in what he described as "a home invasion-type robbery." Watch Fromong talk about what happenedVideo

Fromong testified for Simpson's defense in the 1997 wrongful death trial stemming from a lawsuit filed by the family of Ron Goldman, who was killed in 1994 alongside Simpson's ex-wife.

Simpson was acquitted of the murders in 1995, but the jury in the 1997 civil trial found him liable and awarded the Goldmans $33.5 million for their son's wrongful death.

Fromong testified that prices for Simpson memorabilia had dropped substantially since the 1995 verdict. His testimony was part of the defense's contention that Simpson could not afford to pay the Goldmans. Also on Friday, Thomas Riccio, a former business associate of Simpson, told KVVU television in Las Vegas that he told Simpson about the sale.

Riccio said someone told him last month that he wanted to auction some of Simpson's possessions by placing them on consignment. Riccio added that when he called Simpson to tell him about the planned sale, the former athlete told him the items had been stolen.

Riccio said that as he was being shown the items in the hotel room, Simpson entered the room and seized the items. He said there was no break-in and no gun was used.

Simpson's ex-wife and Goldman -- a waiter who had gone to her Los Angeles, California, home to return a pair of glasses -- were fatally stabbed outside her townhouse June 12, 1994. A jury found Simpson not guilty of the crimes.

Simpson recently wrote a book originally titled "If I Did It" and planned to publish it himself, but a public outcry led to the cancellation of his book deal. A bankruptcy judge subsequently awarded the Goldmans the rights to the book in light of their inability to collect the wrongful death award.

They retitled the book "If I Did It: Confessions of the Killer ," which is in bookstores.

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Indian Law Against Human Trafficking For Sex, To Target Clients


Himanshi Dhawan & Mahendra Kumar Singh

Indian Government is set to amend the Immoral Traffic Prevention Act to bring clients under its ambit, rendering them liable to imprisonment upto six months and a fine extending upto Rs 50,000.

The Union Cabinet will take up on Thursday the Immoral Traffic Prevention (Amendment) Bill to enhance the punishment for those involved in human trafficking for sex, and include clients among the offenders.

At present, "clients" don't come under the purview of the act in what has been seen by many as an infirmity in the law. The proposed amendment, which defines the client as "a person who visits or is found in a brothel," has run into angry protests from sex workers and NGOs.

The proposed amendment, part of the move to clamp down on the world's oldest profession, has attracted protests from NGOs and sex workers' representatives who have argued that the new amendments would drive sex work underground and criminalise clients.

The proposed amendments, as recommended by Parliament's standing committee, also provide for stricter punishment. For instance, "any person who keeps or manages a brothel" will now be liable for rigorous imprisonment of two years which may extend to three years and a fine which may extend to Rs 10,000 for a first conviction.

This may increase to seven years and a fine of Rs 2 lakh. For a person caught trafficking, the punishment can extend up to life imprisonment.

The Bill designed to amend ITPA also makes provision for setting up of a central authority that will work towards combating and prevention of trafficking.

NGOs and sex workers' associations, who have for long demanded that commercial sex be legalised, have carried out widespread protests.

Amongst the objections that they have to the changes are that they seek to penalise clients but in effect drive sex workers underground, criminalise consensual adult sex work and undermine HIV prevention interventions among sex workers and the general population.

ITPA had been tabled in Parliament last year and was referred to a standing committee. The recommendations of the committee were incorporated by the ministry of women and child development before the proposed legislation was made public.

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Big Brother Star Gordon Sloan Dies After An Overdose On Heroin

It is understood that the New Zealand-born Gordon Sloan, who starred in the first series of the Channel 10 reality hit in 2001, died yesterday in a hospital in Beijing, the Chinese capital after taking an overdose of heroin.

According to a source close to Sloan, the former reality star's parents had travelled from their home in New Zealand after their son was admitted to hospital in a coma on September 1.

It is understood the devastated couple opted to turn off the life support that had been keeping their 34-year-old son alive.

While the exact cause of death is yet to be determined, sources said Sloan was believed to have overdosed on heroin.

The Department of Foreign Affairs confirmed a New Zealand-born Australian citizen from Victoria died in Beijing yesterday.

Ben Williams, who won the series in which Sloan featured, described his mate's death as "an absolute tragedy".

"He was a very colourful person and definitely lived life to the max," he said. "It's an absolute tragedy."

Big Brother circles were told about Sloan's hospitalisation on Wednesday, but Williams said his death was "still a terrible shock".

"For his family and immediate circle of friends, it's the worse thing they'll go through," he said.

"But while it's still a shock, we should celebrate his life and the good things he did."

Another Big Brother 2001 star, Pete Timbs, said he had caught up with Sloan in a Sydney bar in June, and had found him to be "as loud and obnoxious as he always was".

"Which was one good thing about Gordon - you always knew where you stood with him," he said.

"He stood up for what he believed in, whether it was right or wrong."

Apart from his stint on Big Brother, Sloan also made the headlines in 2003 when he joined a group of Australians who travelled to Iraq as "human shields" ahead of the war.

Big Brother 2005 runner-up Tim Brunero interviewed Sloan for his website www.ohbrother.com.au two months ago.

"He was really relaxed and comfortable talking about politics and his time on Big Brother," he said.

"He wasn't in the least bit unhappy.

"He was a pretty out-there character who threw himself into life."

Channel 10 issued a statement offering their condolences. "TEN are very saddened by the news of Gordon's death," it read. "Our thoughts are with his family during this time."

Big Brother host Gretel Killeen is believed to be holidaying overseas and was unable to be contacted yesterday.

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American Pop Star Prince Dragging YouTube To Court

THE American pop star Prince plans to sue YouTube and other websites for unauthorised use of his music.

Trying to "reclaim his art on the internet", the man behind such hits as Purple Rain, 1999 and When Doves Cry said on Thursday that YouTube could not argue that it had no control over the videos that users posted on its site.

YouTube was clearly able to filter porn and pedophile material but appeared to choose not to filter out the unauthorised music and film content that is core to its business success, a statement on his behalf said.

YouTube responded by saying it was working with artists to help them manage their music on the site.

"Most content owners understand that we respect copyrights," said YouTube's chief counsel, Zahavah Levine.

"We work every day to help them manage their content, and we are developing state-of-the-art tools to let them do that even better."

Prince also plans legal action against eBay and Pirate Bay, a site accused by Hollywood and the music industry as being a big source of music and film piracy.

The legal action is the latest attempt by the music industry to wrest back control over content in an age where file sharing, mobile phones and video sites make enforcing copyright increasingly difficult.

But it is believed to be rare for an individual artist of Prince's stature to take on popular websites, while some up-and-coming performers actually encourage online file-sharing to create a fan base and buzz around a record.

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Chicago Police Department Vs Prostitutes, Who Is Winning?



The Chicago Police Department has a weapon against prostitution: a website that regularly posts the names, addresses and photos of those arrested for trying to purchase such services. I've inspected the site and can report that none of the alleged offenders bears any resemblance to Richard Gere. But then, they probably weren't expecting Julia Roberts.

Mayor Richard Daley announced the tool in 2005, with some harsh words for anyone thinking of paying for sex. "In Chicago, if you solicit a prostitute, you will be arrested, and when you are arrested, people will know," he declared.

It requires a leap of faith to think that a guy who is not deterred by the risk of being arrested and fined and losing his car will be deterred by the fear of being publicly shamed. But the city has to resort to futile measures because those are the only ones available.

Fighting prostitution with cops on the street is like going into the woods with a fly swatter in the hope of eradicating the mosquito population. In 2004, Chicago police arrested 3,204 alleged prostitutes, or about eight a day. Judging from online sites and phone-book listings for escort services and massage parlors, that is a tiny fraction of all the mercenary coupling that takes place every day. Even Mayor Daley admits there may be as many as 25,000 women involved in prostitution in Chicago, to say nothing of the suburbs.

The police admit that existing policies don't do much more than move the trade from one spot to another. As Supt. Philip Cline told the Chicago Sun-Times, "If we put on a lot of police pressure, it's going to move a couple blocks." He admitted that existing enforcement efforts apparently don't work, "because it's still happening out there."

Yes, it is, and it always will be. The trade brings together two of the most unstoppable forces in American life: lust and avarice. But that combination is potent just about everywhere. There is a prostitution problem in Iran, for heaven's sake. If mullahs ruling an Islamic theocracy can't stamp out these transactions, the Chicago police aren't about to.

What they can do is waste a lot of manpower that could be deployed against truly dangerous criminals. Each prostitution arrest takes a cop off the street for two to three hours. And for what? Most of those arrested are soon free and doing business again.

Mayor Daley has his reasons for the crackdown. Not only is the business a blight on neighborhoods, he asserts, but women involved in it "spend their lives surrounded by criminals and drugs and sexually transmitted diseases. It's a terrible life."

All of that may be true. But the mayor is confusing the effects of prostitution with the effects of laws against prostitution. Streetwalkers don't stand outside in Chicago in January, annoying law-abiding residents, because they like fresh air. Prostitutes work on the street because fixed sites are particularly vulnerable to the cops. In a legal environment, more of them would gravitate to places with walls and roofs.

As for criminals, hookers tend to be surrounded by felonious confederates because what they do is illegal. The enterprise attracts violent people because violence is often useful in a business that can't expect protection from the cops. The retail liquor trade used to be that way too, during Prohibition. Since repeal, it's been about as dangerous as the dairy industry.

Sexually transmitted diseases are another occupational hazard that existing laws do more to cause than to cure. If prostitution were legalized, the authorities could enforce health regulations in the interest of provider as well as patron. In a black market, the only controls on risky behavior are self-imposed.

Politicians may think prostitution is a grim, degrading life. But prostitutes may think the same of politics. At any rate, arresting practitioners doesn't exactly improve their lives. And if they see it as the best of the available options, eliminating it merely forces them into choices they see as worse.

Legalizing prostitution would not be a moral endorsement of paid sex, any more than the First Amendment is a moral endorsement of supermarket tabloids. It would just be a recognition of the right of adults to make their own choices about sins of the flesh -- and of the eternal futility of trying to stop them.

Before he continues his crackdown, Mayor Daley might reflect on the wisdom of one mayor of New Orleans. "You can make prostitution illegal in Louisiana," he said, "but you can't make it unpopular."

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Love Hotels, Prime Targets Of Japanese Investors

Lust is a prime motivator for those who frequent Japan's love hotels, but the subject of that hankering has moved from physical intimacy to making money, according to Dacapo.

Love hotels have become prime targets for investors because they provide high returns with comparatively low risks.

Global Financial Support has apparently found its Leisure Hotel Fund called the Hope Series to be a winner for investors and the hotels alike.

"The fund in this series guarantees dividend payouts of at least 8.4 percent over a year," Global Financial's Daisuke Kondo tells Dacapo.
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Global Financial's love hotel funds have seen increasing numbers of investors who have been willing to put ever more money into plans to get the shag shacks up and running.

Love hotel funds run for three years. Once they finish, the hotel is usually sold off, though sometimes the funds are maintained and investors stay on with them.

Love hotels are a steady business, with experts saying they offer a lot for investors looking for somewhere to put their money with minimal risk of losing it because the business depends on human instinct and is less susceptible to hiccups in the economy.

"Putting it simply, love hotels have a stable source of revenue. There aren't many companies getting into the business for the first time and there are an extremely small number of competitors," Kondo tells Dacapo. "Even if a competitor does enter the market, it's usually in an area where there are already a large number of love hotels, so it has a complementary rather than competitive effect. If couples go to a love hotel and find it fully booked, they're highly likely to go to another love hotel nearby and use that."

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Britney Spears Returns To MTV To Join The Likes Of Timbaland, Rihanna, 50 Cents...



Britney Spears hasn`t had a hit in years. MTV stopped playing music videos years ago.

The two former music industry stalwarts will join forces in Las Vegas this evening for the 24th annual MTV Video Music Awards, an event long considered a looser, hipper version of the Grammys, the top honors show in the record business.

MTV is bringing the show to Sin City for the first time, hoping to reverse a sharp slide in viewership for its flagship awards bash.

Last year`s ceremony in New York drew 5.8 million viewers, down from 8 million in 2005 and 10.3 million in 2004, according to Nielsen Media Research. Both those shows took place in Miami. The only other city to host the show has been Los Angeles, most recently in 1998.

The ceremony harkens back to MTV`s heyday as the maker and breaker of musical acts. The cable channel long ago ditched its basic diet of music videos after realizing that its youthful viewers would surf to other channels when a clip came on that they did not care for. It is now a lifestyle-programming network, focused on reality shows like "The Hills" and "The Real World."

The leading nominees this year are pop singer Justin Timberlake and R&B star Beyonce with seven nominations each, while hip-hop star Kanye West has five.
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The "awards" part of the show usually is overshadowed by the performances and the chance that something outrageous will happen, like same-sex kisses or naughty utterances. The lack of excitement in recent years, amid a government crackdown in media decency, has been blamed for the slide in ratings.

Britney comeback

The ceremony will kick off at 6 pm on Monday from the Palms Casino Resort, with Spears performing her new comeback tune, "Gimme More." The 25-year-old performer, whose professional achievements have been overshadowed by her personal crises in recent years, has used past MTV shows to cavort with a snake and make out with Madonna.

Spears is reportedly working on her first album in more than four years, having been distracted by two marriages, two children and two rehab stints. In that time, fellow Mickey Mouse Club alumni such as Timberlake and Christina Aguilera have seen their careers soar.

The MTV awards performers are drawn mostly from the urban music field -- rappers such as West, 50 Cent, Common, and Soulja Boy, as well as R&B singers Akon, T-Pain, Timbaland and Rihanna. The only rock bands on the bill are the Foo Fighters and Fall Out Boy.

The show itself is almost a footnote to a busy weekend of related parties and concerts throughout the city. Performers at various venues included West, rapper Snoop Dogg and rock band Linkin Park.

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Farm Aid Change Focus To Environmental Awareness This Year

The assault on the environment cannot be effectively controlled, but must be prevented. Although some laudable progress has been made, it has mainly been cosmetic, addressing symptoms rather than causes. In view of this, NYC is using Farm Aid's 22nd anniversary concert to raise awareness about recycling and composting.

Farm Aid organizers are requiring food vendors to provide biodegradable plates, cups, and flatware. Fifty recycling stations will be set up on the grounds on Randalls Island. David Hurd, director of the city's Office of Recycling Outreach and Education, says he's organized 400 volunteers to help concertgoers do the right thing.

They'll just be making sure people are putting things in the right receptacles and to make sure the wrong things like saran wrap and cigarette buts aren't going into the compost pile.

Hurd says the composting will be done at a farm upstate.

Willie Nelson, Neil Young, John Mellencamp and Dave Matthews are among those scheduled to perform at Farm Aid.

The Farm Aid concert was founded in 1985 to raise awareness about the loss of family farms and to raise funds to keep farm families on their land.

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