Police in southern Nigeria say assailants
have thrown a bomb into an Arabic school,
wounding seven people days after a string
of deadly church bombings across the
country.
Authorities in Delta state say the homemade
bomb went off after it was thrown from a
car late Tuesday. Six children were among
the wounded.
The attack follows a string of four
coordinated bombings Sunday that killed at
least 39 people.
The radical Muslim sect Boko Haram claimed
responsibility for the Christmas Day attacks.
Christians in northern Nigeria have warned
that increased violence could lead to a
religious war.
In other violence, gunmen shot and killed a
young girl and her parents late Tuesday in a
Christian-dominated village near the central
city of Jos. Officials suspect the attack was
carried out by Muslim tribesmen.
Jos is the site of frequent clashes between
Christians and Muslims.
Boko Haram, whose name means "Western
education in sinful" in the Hausa language,
wants to establish a strict Islamic state in
Nigeria. It does not recognize the
government or the country's constitution.
The country of 150 million is about evenly
divided between Muslims, who mostly live
in the north, and Christians who dominate
in the south.
Hundreds of others have died this year in
bombings and shootings blamed on Boko
Haram.
Some information for this report was
provided by AP, AFP and Reuters.
Wednesday 28 December 2011
Monday 19 December 2011
Sam Loco Efe's death still being investigated
Sam Loco Efe's death still being
investigated
Police would not be sticking to hearsay
that he died after an asthmatic attack
.
The police in Imo State said on Monday they
had yet to unravel the circumstances that
led to the death of popular Nigerian actor,
Sam Loco Efe. It is suspected that he died of
asthma. He was reportedly found dead on
Sunday morning with ventolin inhalers
beside him in the hotel room where he
lodged. The room was forced open after he
failed to come down after retiring the
previous night.
Contrary to reports that he was on location
in Owerri, Imo State, he was actually in
Owerri editing a yet untitled film produced
by Bayelsa State born Favour Ogosi.
The Imo State Police Command Public
Relations Officer, Mr. Linus Nwaiwu is
quoted as saying that investigations had
commenced following insinuations that the
actor might have died in unusual
circumstances as he said: “We have yet to
unravel what killed Sam Loco. We are still
looking at the issues and events that may
have led to his death. As soon as we find a
lead, we will make our findings public.
"... So it is still too early to say what killed
him. We wouldn’t want to work on hearsay;
that is why we are taking our time to
unravel the cause of his death,” he added.
The Edo state governor, Adams Oshiomole
has also sent condolence messages to the
Efe family.
investigated
Police would not be sticking to hearsay
that he died after an asthmatic attack
.
The police in Imo State said on Monday they
had yet to unravel the circumstances that
led to the death of popular Nigerian actor,
Sam Loco Efe. It is suspected that he died of
asthma. He was reportedly found dead on
Sunday morning with ventolin inhalers
beside him in the hotel room where he
lodged. The room was forced open after he
failed to come down after retiring the
previous night.
Contrary to reports that he was on location
in Owerri, Imo State, he was actually in
Owerri editing a yet untitled film produced
by Bayelsa State born Favour Ogosi.
The Imo State Police Command Public
Relations Officer, Mr. Linus Nwaiwu is
quoted as saying that investigations had
commenced following insinuations that the
actor might have died in unusual
circumstances as he said: “We have yet to
unravel what killed Sam Loco. We are still
looking at the issues and events that may
have led to his death. As soon as we find a
lead, we will make our findings public.
"... So it is still too early to say what killed
him. We wouldn’t want to work on hearsay;
that is why we are taking our time to
unravel the cause of his death,” he added.
The Edo state governor, Adams Oshiomole
has also sent condolence messages to the
Efe family.
Bomb explodes in Nigerian city of Kaduna
Monrovia/Abuja (Dpa) - A bomb went off
Monday in the central Nigerian city of
Kaduna, less than a day after members of
the country's radical Islamist group, Boko
Haram, were arrested in the northern city of
Kano.
The explosion happened outside the
National Eye Centre. No casualties have yet
been confirmed.
Fears were raised of revenge attacks after
Nigerian police announced the arrests of
key members of Boko Haram Sunday. They
include Mohammed Aliyu, believed to be
one of the leaders of the group.
Aliyu was arrested at his home in Kano
Sunday, during a shootout between police
and suspected members of the group.
Seven people were killed in the exchange,
including two policemen.
Fourteen suspected members of Boko
Haram, the group founded under the motto
'Western education is a sin', have been
detained in recent days. On Saturday, police
seized a bomb-making factory in Maiduguri,
the group's official base.
In the last week, attacks by suspected
members of the group have targeted
markets, wedding ceremonies and a school
in Nigeria's arid north.
The group claimed responsibility for an
attack on the UN's Nigeria headquarters in
August, which left 23 people dead.
Monday in the central Nigerian city of
Kaduna, less than a day after members of
the country's radical Islamist group, Boko
Haram, were arrested in the northern city of
Kano.
The explosion happened outside the
National Eye Centre. No casualties have yet
been confirmed.
Fears were raised of revenge attacks after
Nigerian police announced the arrests of
key members of Boko Haram Sunday. They
include Mohammed Aliyu, believed to be
one of the leaders of the group.
Aliyu was arrested at his home in Kano
Sunday, during a shootout between police
and suspected members of the group.
Seven people were killed in the exchange,
including two policemen.
Fourteen suspected members of Boko
Haram, the group founded under the motto
'Western education is a sin', have been
detained in recent days. On Saturday, police
seized a bomb-making factory in Maiduguri,
the group's official base.
In the last week, attacks by suspected
members of the group have targeted
markets, wedding ceremonies and a school
in Nigeria's arid north.
The group claimed responsibility for an
attack on the UN's Nigeria headquarters in
August, which left 23 people dead.
Toll-gate controversy: CNPP backs LASG
Toll-gate controversy: CNPP backs LASG
As protests continued to trail the
collection of tolls at Lekki/Epe
expressway, the Conference of Nigerian
Political Parties (CNPP), Lagos chapter, on
Monday, threw its weight behind the toll
system introduced by the Lagos State
government.
Addressing newsmen in Lagos, the state
chairman of the CNPP, Mr Akinola Obadia,
said that the toll issue had become
unduly politicized.
“There is over dramatisation in this
issue with the argument tilting towards
a partisanship tendency, rather than
being level-headed, clear thinking and
principle based,” he said stressing that
the CNPP was aware of the need not to
over-burden residents and travellers on
the road.
According to him, there was need to
show commitment and understanding
to the toll system in question, given its
international dimension.
Obadia stated that it was a world class
infrastructure provided with private
investor funds, in line with international
financial regulations, from both state
and federal governments, stressing that
defaulting on such agreement could
project Nigeria as a country where
legally documented obligations were not
honoured.
The CNPP Chairman said that such an
impression could have serious
implications on the nation’s capacity to
attract foreign investors.
“Our concern however, must be
balanced with the need for our citizens
to be socially responsible by paying
their dues to community development,’’
he said.
He however, appealed to the residents
of Lekki, and everyone affected by the
toll-gate, to collaborate with the
government and avoid protests that
could adversely affect the peace of the
area.(NAN).
As protests continued to trail the
collection of tolls at Lekki/Epe
expressway, the Conference of Nigerian
Political Parties (CNPP), Lagos chapter, on
Monday, threw its weight behind the toll
system introduced by the Lagos State
government.
Addressing newsmen in Lagos, the state
chairman of the CNPP, Mr Akinola Obadia,
said that the toll issue had become
unduly politicized.
“There is over dramatisation in this
issue with the argument tilting towards
a partisanship tendency, rather than
being level-headed, clear thinking and
principle based,” he said stressing that
the CNPP was aware of the need not to
over-burden residents and travellers on
the road.
According to him, there was need to
show commitment and understanding
to the toll system in question, given its
international dimension.
Obadia stated that it was a world class
infrastructure provided with private
investor funds, in line with international
financial regulations, from both state
and federal governments, stressing that
defaulting on such agreement could
project Nigeria as a country where
legally documented obligations were not
honoured.
The CNPP Chairman said that such an
impression could have serious
implications on the nation’s capacity to
attract foreign investors.
“Our concern however, must be
balanced with the need for our citizens
to be socially responsible by paying
their dues to community development,’’
he said.
He however, appealed to the residents
of Lekki, and everyone affected by the
toll-gate, to collaborate with the
government and avoid protests that
could adversely affect the peace of the
area.(NAN).
NORTH Korean supreme leader Kim Jong-il has died of a heart attack at the age of 69, state TV has said.
NORTH Korean supreme leader Kim Jong-il
has died of a heart attack at the age of 69,
state TV has said.
In a special broadcast state media said Kim
died on a train due to a "great mental and
physical strain" on Saturday during a "high
intensity field inspection" outside the capital
Pyongyang.
The leader, reputed to have had a taste for
cigars, cognac and gourmet cuisine, was
believed to have had diabetes and heart
disease and suffered a stroke three years
ago.
The communist country must now follow
his son Kim Jong-Un, its state media
announced.
Kim Jong-il, famed for his bouffant hair-do,
platform shoes and jump suits, emerged
from his father's shadows to become one
of the world's most enigmatic leaders who
put North Korea on the path of becoming a
nuclear power.
But his state was also frequently cited as a
threat to global stability and neighbouring
South Korea declared an emergency military
alert minutes after the news of his death
went public.
As North Korea announced Kim's death it
urged its people to rally behind his son.
A statement carried by the North's official
Korean Central News Agency: "He passed
away too suddenly to our profound regret.
"The heart of Kim Jong-il stopped beating,
but his noble and august name and
benevolent image will always be
remembered by our army and people."
People on the streets of Pyongyang wailed
in grief at the news, with some kneeling on
the ground or bowing repeatedly.
Shaking wildly, Hong Son Ok shouted in an
interview: "How could the heavens be so
cruel? Please come back, general. We cannot
believe you're gone".
North Korea said in a dispatch that the
people and the military "have pledged to
uphold the leadership of comrade Kim Jong-
un" calling him a "great successor".
The statement said: "At the leadership of
comrade Kim Jong-un, we have to change
sadness to strength and courage and
overcome today's difficulties."
Kim's funeral is planned for December 28 in
Pyongyang, with a national mourning
period to last until December 29.
Foreign Secretary William Hague said today
that Kim's death could be a "turning point"
for his country.
In a statement Mr Hague urged his
successors to recognise that engagement
with the international community offered
the best hope of improving the lives of
their people.
Mr Hague said: "The people of North Korea
are in official mourning after the death of
Kim Jong-il. We understand this is a difficult
time for them.
"This could be a turning point for North
Korea. We hope that their new leadership
will recognise that engagement with the
international community offers the best
prospect of improving the lives of ordinary
North Korean people.
"We encourage North Korea to work for
peace and security in the region and take
the steps necessary to allow the resumption
of the Six Party Talks on denuclearisation of
the Korean Peninsula."
The White House said in a statement that it
is closely monitoring reports of Kim's death.
The statement said: "The president has been
notified, and we are in close touch with our
allies in South Korea and Japan.
has died of a heart attack at the age of 69,
state TV has said.
In a special broadcast state media said Kim
died on a train due to a "great mental and
physical strain" on Saturday during a "high
intensity field inspection" outside the capital
Pyongyang.
The leader, reputed to have had a taste for
cigars, cognac and gourmet cuisine, was
believed to have had diabetes and heart
disease and suffered a stroke three years
ago.
The communist country must now follow
his son Kim Jong-Un, its state media
announced.
Kim Jong-il, famed for his bouffant hair-do,
platform shoes and jump suits, emerged
from his father's shadows to become one
of the world's most enigmatic leaders who
put North Korea on the path of becoming a
nuclear power.
But his state was also frequently cited as a
threat to global stability and neighbouring
South Korea declared an emergency military
alert minutes after the news of his death
went public.
As North Korea announced Kim's death it
urged its people to rally behind his son.
A statement carried by the North's official
Korean Central News Agency: "He passed
away too suddenly to our profound regret.
"The heart of Kim Jong-il stopped beating,
but his noble and august name and
benevolent image will always be
remembered by our army and people."
People on the streets of Pyongyang wailed
in grief at the news, with some kneeling on
the ground or bowing repeatedly.
Shaking wildly, Hong Son Ok shouted in an
interview: "How could the heavens be so
cruel? Please come back, general. We cannot
believe you're gone".
North Korea said in a dispatch that the
people and the military "have pledged to
uphold the leadership of comrade Kim Jong-
un" calling him a "great successor".
The statement said: "At the leadership of
comrade Kim Jong-un, we have to change
sadness to strength and courage and
overcome today's difficulties."
Kim's funeral is planned for December 28 in
Pyongyang, with a national mourning
period to last until December 29.
Foreign Secretary William Hague said today
that Kim's death could be a "turning point"
for his country.
In a statement Mr Hague urged his
successors to recognise that engagement
with the international community offered
the best hope of improving the lives of
their people.
Mr Hague said: "The people of North Korea
are in official mourning after the death of
Kim Jong-il. We understand this is a difficult
time for them.
"This could be a turning point for North
Korea. We hope that their new leadership
will recognise that engagement with the
international community offers the best
prospect of improving the lives of ordinary
North Korean people.
"We encourage North Korea to work for
peace and security in the region and take
the steps necessary to allow the resumption
of the Six Party Talks on denuclearisation of
the Korean Peninsula."
The White House said in a statement that it
is closely monitoring reports of Kim's death.
The statement said: "The president has been
notified, and we are in close touch with our
allies in South Korea and Japan.
Thursday 8 December 2011
Scotland hit by once in generation storm
Forecasters expect some respite on Friday
after a huge storm cut power to thousands
of homes in Scotland and forced
evacuations in northern England.
The storm, packing winds of up to 265
kilometres per hour, caused transport chaos
and left more than 55,000 people without
electricity on Thursday.
The strongest gales were recorded at the
Cairngorms range in the Scottish Highlands,
while the main cities of Glasgow and
Edinburgh were hit by wind speeds of
113km/h.
Thousands of schools around Glasgow and
the west of Scotland were closed, while
every major bridge was shut, flights from
the main airports were disrupted and train
services cut.
In northern England, two people in North
Yorkshire were rescued by the Royal Air
Force from a partially-submerged car and
were airlifted to hospital with suspected
hypothermia, emergency services said.
There was heavy rain in the Cumbria region,
where police said they received several calls
from motorists stuck in floodwater.
The Environment Agency issued seven
flood alerts at different locations on 12
rivers and lakes in the county.
Scottish First Minister Alex Salmond has
praised the response of emergency crews.
'I've been kept in touch... and I've seen the
extraordinary pictures of the exceptionally
high winds,' Salmond said during a visit to
Hong Kong on Friday.
'Scotland is a windy country but even for
Scotland that was a once-in-a-generation
experience.'
Salmond said there had been no fatalities
reported.
He said Scotland's main power companies
expected power to be restored at the
weekend.
'There are still about 50,000 people without
power but there's 15,000 people working
on that.'
'Scotland's a very resilient country and we
can take whatever Mother Nature throws at
us,' Salmond said.
Forecasters expected some respite on
Friday, with the worst of the winds
confined to northeast Scotland and the
Shetland Islands.
after a huge storm cut power to thousands
of homes in Scotland and forced
evacuations in northern England.
The storm, packing winds of up to 265
kilometres per hour, caused transport chaos
and left more than 55,000 people without
electricity on Thursday.
The strongest gales were recorded at the
Cairngorms range in the Scottish Highlands,
while the main cities of Glasgow and
Edinburgh were hit by wind speeds of
113km/h.
Thousands of schools around Glasgow and
the west of Scotland were closed, while
every major bridge was shut, flights from
the main airports were disrupted and train
services cut.
In northern England, two people in North
Yorkshire were rescued by the Royal Air
Force from a partially-submerged car and
were airlifted to hospital with suspected
hypothermia, emergency services said.
There was heavy rain in the Cumbria region,
where police said they received several calls
from motorists stuck in floodwater.
The Environment Agency issued seven
flood alerts at different locations on 12
rivers and lakes in the county.
Scottish First Minister Alex Salmond has
praised the response of emergency crews.
'I've been kept in touch... and I've seen the
extraordinary pictures of the exceptionally
high winds,' Salmond said during a visit to
Hong Kong on Friday.
'Scotland is a windy country but even for
Scotland that was a once-in-a-generation
experience.'
Salmond said there had been no fatalities
reported.
He said Scotland's main power companies
expected power to be restored at the
weekend.
'There are still about 50,000 people without
power but there's 15,000 people working
on that.'
'Scotland's a very resilient country and we
can take whatever Mother Nature throws at
us,' Salmond said.
Forecasters expected some respite on
Friday, with the worst of the winds
confined to northeast Scotland and the
Shetland Islands.
Michael Jackson's doctor in jail - if in finance would be free and
The Wall Street Journal, in its November 30,
2011 issue wrote: "A judge sentenced
Michael Jackson's doctor to four years in a
county jail for his role in the pop singer's
2009 death, calling Conrad Murray 'a
disgrace to the medical profession' in
blistering remarks... Judge Michael Pastor of
Los Angeles Superior Court said Dr. Murray's
$150,000-a-month post with the pop star
constituted 'money for madness medicine'.
Dr. Murray was found guilty of "involuntary
manslaughter after treating Mr. Jackson's
insomnia with a powerful sedative".
Apparently days after his conviction, an
interview with the good doctor aired on
MSNBC. Doctor Murray said he felt no guilt
and he did nothing wrong. He blamed
Michael Jackson for his own death. To which
Judge Pastor, while handing down the
sentence, reportedly said, "Yipes! Talk about
blaming the victim."
Talk about making a wrong career choice.
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No body, no die
Dr Murray should never have studied
medicine and then decided to practice it. He
should have been in the financial services
field. He was in the right country: USA. And
he had the right kind of clients - judging by
the fact that he was close to pop music
legend, Michael Jackson.
His $150,000 a post with the pop star is
impressive. That works out to $ 1.8 million a
year. Not easy to beat even in the greed-
ridden financial services sector. But, given
that Dr Murray is 58 years old, he would
have had a 30-year track record in the field
of finance. With 30 years of networking,
chances are he could have been generating
more than $1.8 million per annum in salaries
and bonuses. Yes, Dr Murray could have
made it to the coveted post of a "Big
Swinging D" or "Rainmaker".
In addition to the salary and the bonus,
which would make 99% of the 99% so
ecstatic that they would die of a heart
attack, there are the perks.
With MJ the Doctor got to visit PlayLand and
hang around with some weird people doing
some weird things. But, with a Wall Street
firm, he could potentially have been set up
with free alcohol, free drugs, and fun-loving
women. Of course, he would have to get the
clients in on it. And, as shown in the
documentary " The Inside Job", no
investigator would ever worry about
whether such practices could be "bribes".
More importantly, if Dr. Murray had really
made it big in the field of finance, he may
have gotten the crucial ingredient of mega-
success: inside information.
The good doctor could have been part of
the old boy networks that seem to keep the
money in the rarefied club of a select few.
Maybe Dr Murray would have been invited
to the special lunch with Hank Paulson in
July 21, 2008 to discuss the various options
facing the US government to solve the
financial crisis. Including the shutting down
of government-owned entities: Freddie Mac
and Fannie Mae.
While people are still debating on whether
the Hank lunch (with his mostly ex-Goldman
colleagues) was a violation of "insider
trading" or "ethical" rules and practices -or
whether anyone present profited from the
lunch or not - that is an academic question. I
mean if you get invited to any sort of high-
powered lunch with a dozen other people,
think of what you can learn on a one-to-one
cigar-chomping meeting.
With access to the right people, not only are
you "the 1%" but you are the "1% of the
1% of the 1%". Based on the US population
of some 350 million and a global population
of some 7 billion, that kind of equals the
number of Goldman partners "doing God's
work" and a bunch of other less religiously
blessed (but equally wealthy) lesser mortals.
Yes, Dr. Murray, with his commitment to his
clients' well-being could easily have been
"the Man".
And the best part is Dr. Murray would not
have been sent to jail.
Michael Jackson died in 2009 and - within 2
years - Murray is tried, found guilty, and
sentenced.
Lehman went bust in 2008; there have been
over a dozen books and hundreds of
articles about the role of the crooked. There
have been government hearings. And there
have been millions of minutes of media
coverage. But, eh, has anyone gone to jail?
To be tried for murder, there needs to be a
body.
No body, no blood, no allegation.
That is the beauty of the field of finance.
Your bad advice or your selfish greed - or
both - can disrupt lives and can disrupt
families. But you get to keep the bonus and
all the stuff that money can buy. And
bought.
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We did it, we did it!
As has been noted by many, the guilty have
given their confessions in public. Chuck
Prince, the then CEO of Citibank, confessed
that he could not stop dancing. They all
knew the music would stop, said the Prince.
They all knew the stuff they were doing
was reckless, but they had to keep dancing.
Why "had to" you may ask? Because, dear
victim, their bonus pools would swell the
more they danced. Just as the tax payers
bail-out of the failed also would swell. But
that was not their problem.
Though, admittedly, not everyone was in it
merely for the money. Lloyd Blankfein, the
CEO of Goldman - again a very different
breed even amongst the 1% - said he was
doing "God's work".
Funny, but that is what bin Laden said, too.
But, like Dr. Murray, bin Laden left behind a
lot of blood and bodies. They finally got bin
Laden - and he got what he deserved.
Judge Pastor, who delivered the sentencing
on Dr. Murray, was shocked that this doctor
gave his patients whatever medicines they
wanted. As a doctor, he should have known
that the patient's body was in danger.
But poor Dr. Murray just acted like the
regular people in the financial services
industry. The financial geniuses knew that
there was too much risk in the action of
many clients. But, did they warn them? Did
they protest and quit and say, "No loans
from me, baby!"? Not that we know of. In
fact, they were probably happy peddling
the stuff a-la Dr Murray style. They kept on
dancing.
And, yes, they still blame the borrowers:
they should have known better many tell
me. Out of 100 home loans, maybe 1 was
mis-sold. The other 99% wanted to gamble
on the real estate market. It was not the
fault of the bankers. But, did they try to
stop them? Were they sophisticated enough
to understand the risks and the
consequences of what would happen when
the music stopped. Did the financial
geniuses not understand? And if the
financial folks did not understand, what
were they getting paid all this money for?
Like Judge Pastor remarked: "Yipes, talk
about blaming the victim."
But there is no body, so there is no murder.
And the thugs are still around waiting to
knock you out any which way they can.
After all there is still a lot of "God's work"
left to be done.
Dr. Murray, you could have been part of that
evangelist mission - being a doctor was a
bad career choice.
2011 issue wrote: "A judge sentenced
Michael Jackson's doctor to four years in a
county jail for his role in the pop singer's
2009 death, calling Conrad Murray 'a
disgrace to the medical profession' in
blistering remarks... Judge Michael Pastor of
Los Angeles Superior Court said Dr. Murray's
$150,000-a-month post with the pop star
constituted 'money for madness medicine'.
Dr. Murray was found guilty of "involuntary
manslaughter after treating Mr. Jackson's
insomnia with a powerful sedative".
Apparently days after his conviction, an
interview with the good doctor aired on
MSNBC. Doctor Murray said he felt no guilt
and he did nothing wrong. He blamed
Michael Jackson for his own death. To which
Judge Pastor, while handing down the
sentence, reportedly said, "Yipes! Talk about
blaming the victim."
Talk about making a wrong career choice.
---------------- Revised And Updated Edition
Of "Multibagger Stock Ideas" ----------------
You are only a step away from getting your
hands on to this exclusive 16 page stock
market report by Equitymaster -
Multibagger Stock Ideas.
To claim your Free copy of this report, all
you need to do is reconfirm your FREE
subscription to our daily e-letter, The 5
Minute WrapUp.
Quick! Sign Up Now! Click here...
-----------------------------------------------------------------------------------------------------------
No body, no die
Dr Murray should never have studied
medicine and then decided to practice it. He
should have been in the financial services
field. He was in the right country: USA. And
he had the right kind of clients - judging by
the fact that he was close to pop music
legend, Michael Jackson.
His $150,000 a post with the pop star is
impressive. That works out to $ 1.8 million a
year. Not easy to beat even in the greed-
ridden financial services sector. But, given
that Dr Murray is 58 years old, he would
have had a 30-year track record in the field
of finance. With 30 years of networking,
chances are he could have been generating
more than $1.8 million per annum in salaries
and bonuses. Yes, Dr Murray could have
made it to the coveted post of a "Big
Swinging D" or "Rainmaker".
In addition to the salary and the bonus,
which would make 99% of the 99% so
ecstatic that they would die of a heart
attack, there are the perks.
With MJ the Doctor got to visit PlayLand and
hang around with some weird people doing
some weird things. But, with a Wall Street
firm, he could potentially have been set up
with free alcohol, free drugs, and fun-loving
women. Of course, he would have to get the
clients in on it. And, as shown in the
documentary " The Inside Job", no
investigator would ever worry about
whether such practices could be "bribes".
More importantly, if Dr. Murray had really
made it big in the field of finance, he may
have gotten the crucial ingredient of mega-
success: inside information.
The good doctor could have been part of
the old boy networks that seem to keep the
money in the rarefied club of a select few.
Maybe Dr Murray would have been invited
to the special lunch with Hank Paulson in
July 21, 2008 to discuss the various options
facing the US government to solve the
financial crisis. Including the shutting down
of government-owned entities: Freddie Mac
and Fannie Mae.
While people are still debating on whether
the Hank lunch (with his mostly ex-Goldman
colleagues) was a violation of "insider
trading" or "ethical" rules and practices -or
whether anyone present profited from the
lunch or not - that is an academic question. I
mean if you get invited to any sort of high-
powered lunch with a dozen other people,
think of what you can learn on a one-to-one
cigar-chomping meeting.
With access to the right people, not only are
you "the 1%" but you are the "1% of the
1% of the 1%". Based on the US population
of some 350 million and a global population
of some 7 billion, that kind of equals the
number of Goldman partners "doing God's
work" and a bunch of other less religiously
blessed (but equally wealthy) lesser mortals.
Yes, Dr. Murray, with his commitment to his
clients' well-being could easily have been
"the Man".
And the best part is Dr. Murray would not
have been sent to jail.
Michael Jackson died in 2009 and - within 2
years - Murray is tried, found guilty, and
sentenced.
Lehman went bust in 2008; there have been
over a dozen books and hundreds of
articles about the role of the crooked. There
have been government hearings. And there
have been millions of minutes of media
coverage. But, eh, has anyone gone to jail?
To be tried for murder, there needs to be a
body.
No body, no blood, no allegation.
That is the beauty of the field of finance.
Your bad advice or your selfish greed - or
both - can disrupt lives and can disrupt
families. But you get to keep the bonus and
all the stuff that money can buy. And
bought.
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We did it, we did it!
As has been noted by many, the guilty have
given their confessions in public. Chuck
Prince, the then CEO of Citibank, confessed
that he could not stop dancing. They all
knew the music would stop, said the Prince.
They all knew the stuff they were doing
was reckless, but they had to keep dancing.
Why "had to" you may ask? Because, dear
victim, their bonus pools would swell the
more they danced. Just as the tax payers
bail-out of the failed also would swell. But
that was not their problem.
Though, admittedly, not everyone was in it
merely for the money. Lloyd Blankfein, the
CEO of Goldman - again a very different
breed even amongst the 1% - said he was
doing "God's work".
Funny, but that is what bin Laden said, too.
But, like Dr. Murray, bin Laden left behind a
lot of blood and bodies. They finally got bin
Laden - and he got what he deserved.
Judge Pastor, who delivered the sentencing
on Dr. Murray, was shocked that this doctor
gave his patients whatever medicines they
wanted. As a doctor, he should have known
that the patient's body was in danger.
But poor Dr. Murray just acted like the
regular people in the financial services
industry. The financial geniuses knew that
there was too much risk in the action of
many clients. But, did they warn them? Did
they protest and quit and say, "No loans
from me, baby!"? Not that we know of. In
fact, they were probably happy peddling
the stuff a-la Dr Murray style. They kept on
dancing.
And, yes, they still blame the borrowers:
they should have known better many tell
me. Out of 100 home loans, maybe 1 was
mis-sold. The other 99% wanted to gamble
on the real estate market. It was not the
fault of the bankers. But, did they try to
stop them? Were they sophisticated enough
to understand the risks and the
consequences of what would happen when
the music stopped. Did the financial
geniuses not understand? And if the
financial folks did not understand, what
were they getting paid all this money for?
Like Judge Pastor remarked: "Yipes, talk
about blaming the victim."
But there is no body, so there is no murder.
And the thugs are still around waiting to
knock you out any which way they can.
After all there is still a lot of "God's work"
left to be done.
Dr. Murray, you could have been part of that
evangelist mission - being a doctor was a
bad career choice.
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