JP Morgan and Citibank and ENRON

EXCERPT:
Both Citigroup and J.P. Morgan, two financial giants,
financed transactions for Enron that allowed Enron’s management
to present misleading financial results to shareholders, analysts,
and the marketplace.9 Citigroup and J.P. Morgan primarily used
“prepay” transactions that allowed Enron to disguise loans as
commodities transactions.10
“Prepay” transactions involve triangular deals where an
original company (Enron) enters into a transaction with another
company (a shell corporation) which enters into a transaction with
the financial institution, which enters into a transaction with the
original company.11 “The net effect of these deals [is that the
original company ends up] being the shipper and receiver of the
same commodity, due at the same price on the same day.”12 Under
these transactions, all the multiple deals cancel each other out,
except the original company who receives a large amount of cash,
which must be paid back to the financial institutions with interest.13
The results of these deals are merely loans to the original
corporation disguised as commodities transactions.14 Through
several prepays, Citigroup and J.P. Morgan lent Enron $6.4 billion
dollars.15 These transactions enabled Enron to report non-existent
earnings and conceal the discrepancy between actual and reported
earnings from financial analysts and investors.16
Citigroup and Enron also entered into special purposes
entities (SPEs)17 transactions in which Enron converted cash

Bush said he didn't know Ken Lay(BS)letter here proves differently

Memo details Cheney-Enron links

War in the planning for 4 years

EXCERPT:
Zbigniew Brzezinski and the CFR Put War Plans in a 1997 Book -- It is "A Blueprint for World Dictatorship," Says a Former German Defense and NATO Official Who Warned of Global Domination in 1984, in an Exclusive Interview With FTW.

Summary

"THE GRAND CHESSBOARD -- American Primacy And It's Geostrategic Imperatives," Zbigniew Brzezinski, Basic Books, 1997.

These are the very first words in the book, "Ever since the continents started interacting politically, some five hundred years ago, Eurasia has been the center of world power." -- p. xiii. Eurasia is all of the territory east of Germany and Poland, stretching all the way through Russia and China to the Pacific Ocean. It includes the Middle East and most of the Indian subcontinent. The key to controlling Eurasia, says Brzezinski, is controlling the Central Asian Republics. And the key to controlling the Central Asian republics is Uzbekistan. Thus, it comes as no surprise that Uzbekistan was forcefully mentioned by President George W. Bush in his address to a joint session of Congress just days after the attacks of September 11 as the very first place that the U.S. military would be deployed.

As FTW has documented in previous stories, major deployments of U.S. and British forces had taken place before the attacks. And the U.S. Army and the CIA had been active in Uzbekistan for several years. There is now evidence that what the world is witnessing is a cold and calculated war plan -- at least four years in the making -- and that, from reading Brzezinski's own words about Pearl Harbor, the World Trade Center attacks were just the trigger needed to set the final conquest in motion.

California "crisis" was entirely manipulated (Enron)

Extorting and racketeering in America
One of Enron's first acts on behalf of the present Bush administration was the manipulation of the California energy grid, which essentially blackmailed the state. California is a Democratic stronghold and "hotbed of liberal dissent" that opposed the installment of George W. Bush. California's once burgeoning economy was derailed, and its damaged Democratic political leadership was sent scrambling into months of damage control. There is evidence that the California "crisis" was entirely manufactured. Several investigations into the scam are underway.

As reported by David Lazarus in the San Francisco Chronicle (1/30/02), memos of conversations between Lay and Dick Cheney provide ample evidence of Lay's insider status in the Bush White House: he essentially dictated the administration's ruthless response to California --- and perhaps the rest of the energy policy.

Today, California remains a hostage to Enron and other Texas utilities, locked into expensive long-term energy contracts that will sap its resources and fleece consumers for years to come.

The California "energy shortage" became George Bush's national rallying cry for deregulation, drilling, building new power plants and the gutting of environmental regulations across the US. The Alaska National Wildlife Refuge and other protected lands, and the California coast, have been targeted for drilling.

Not content simply to deregulate national energy markets, Enron pushed for the deregulation of energy futures markets, making itself exempt from government oversight and from fraud laws. This maneuver, headed by Wendy Gramm, and assisted by Senator Phil Gramm (who pushed Enron-friendly changes in legislation in Congress) was tantamount to the company giving itself permission to launder massive amounts of money.

Enron, Bush administration officials, and Enron-funded right-wing "think tanks" such as the American Enterprise Institute, the American Council for Capital Formation (where Ken Lay is a director), the Institute for Policy Innovation (founded by Dick Armey) collaborated to lift restrictions on offshore tax havens. This blocked a multi-year 30-nation crackdown on the abuse of offshore tax havens led by the Organization of Economic Cooperation and Development.

Today, thanks to Enron, billions of dollars of mystery money are sheltered in thousands of phantom offshore accounts, in 874 Enron subsidiaries.


Arbusto Energy's criminal connections

EXCERPT:
A powerful banker in Saudi Arabia, Mahfouz was one of the largest stockholders in the Bank of Credit and Commerce International. BCCI was a corrupt global banking empire operating in 73 nations and was a major financial and political force in Washington, Paris, Geneva, London, and Hong Kong. Despite the appearance of a normal banking operation, BCCI was actually an international crime syndicate providing "banking services" to the Medellin drug cartel, Pamama dictator Manuel Noriega, Saddam Hussein, terrorist mastermind Abu Nidal, and Khun Sa, the heroin kingpin in Asia's Golden Triangle.

The BCCI scandal implicated some of the biggest political names in Washington - both Democrats and Republicans - during the first Bush White House. The bank was accused of laundering money for drug cartels, smuggling weapons to terrorists, and using Middle Eastern oil money to influence American politicians.

The chief of the Justice Department's criminal division under former President Bush was Robert Mueller. Because the major players came out of the scandal with slaps on the wrists, many critics accused Mueller of botching the investigation. Mr. Mueller was recently appointed by President George W. Bush as the new Director of the FBI, replacing Louis Freeh who did nothing while William Jefferson Clinton allowed the Red Chinese to loot our national security secrets.

The Financial Crimes Enforcement Network (FinCEN), a division of the Justice Department, reviewed allegations by Bill White in 1992 that James Bath funneled money from wealthy Middle Eastern businessmen to American companies to influence the policies of the Reagan and Bush administrations. Robert Mueller, the new FBI chief, was in a senior position at the Justice Department at the time of the review.

White told a Texas court in 1992 that Bath and the Justice Department had "blackballed" him professionally and financially because he refused to keep quiet about his knowledge of an Arabic conspiracy to launder Middle Eastern money into the bank accounts of American businesses and politicians.

In sworn depositions, Bath admitted he represented four wealthy Saudi Arabian businessmen as a trustee. He also admitted he used his name on their investments and received, in return, a five- percent stake in their business deals.

Indeed, Texas tax documents revealed that Bath owned five percent of Arbusto '79 Ltd., and Arbusto '80 Ltd. Bush Exploration Company controlled the limited partnerships, the general partnership firm owned by young George W. Bush.

Although George W. Bush's Texas oil ventures were financial failures, his financial backers recovered their investments through a series of mergers and stock swaps. He changed Arbusto's name to Bush Exploration, then merged the new firm into Spectrum 7 Energy Corporation in 1984.