The Jewish Chronicle - - News -

A story on the web­site, claim­ing that $400bn went from Lehman Bros to Is­rael, was placed on­line along­side an edited ver­sion of a gen­uine news piece by Linda San­dler of Bloomberg, pre­sum­ably to add au­then­tic­ity


The Voice of the White House, Wash­ing­ton DC, Oc­to­ber 2 2008 “There is a very se­ri­ous as­pect to the cur­rent eco­nomic col­lapse that no one wants to dis­cuss, nei­ther the eco­nomic pun­dits, the me­dia or the scared politi­cians. This con­cerns an as­pect of the sub­prime scams… Very large amounts of money from banks and fi­nan­cial in­sti­tu­tions and the own­ers and con­trollers thereof were, and are be­ing, sent out­side this coun­try to a se­cure area. I am speak­ing specif­i­cally of Amer­i­can busi­ness send­ing, elec­tron­i­cally, huge amounts of money to banks in Is­rael.

“The three banks that are get­ting most of the stolen money are: Hapoalim group, Bank Leumi group, Dis­count Bank group. It is not nec­es­sary to men­tion that the senders are all Jewish and it should be noted that Is­raeli bank­ing con­cerns prac­tice strict bank­ing se­cu­rity (see their Pro­tec­tion of Pri­vacy Law, 1981). Un­der the PPL, ‘an in­fringe­ment of pri­vacy is, in­ter alia, a vi­o­la­tion of an obli­ga­tion to main­tain se­crecy re­gard­ing a per­son’s pri­vate af­fairs, es­tab­lished by ex­plicit or im­plicit agree­ment’.

“The bank’s obli­ga­tion of se­crecy ex­tends not only to the de­tails of the client’s ac­count but also to all trans­ac­tions re­lated to the ac­count. In other words, if the US au­thor­i­ties want to know about this, they can bend over while the Is­raeli bankers drive them home.

“And if the stick­yfin­gered ones de­cide to make a quick flight to Is­rael ahead of FBI in­ves­ti­ga­tors, like their new ac­counts, they are safe. Note here that Is­rael does not ex­tra­dite its cit­i­zens. But it does al­low pros­e­cu­tions in its own courts for crimes com­mit­ted abroad… US law-en­force­ment per­son­nel… fear that Is­raeli-ori­ented eco­nomic crim­i­nals will use the Jewish state as a refuge.” [Text re­pro­duced ver­ba­tim]


By Linda San­dler, Septem­ber 27, 2008 “Bloomberg — Lehman Broth­ers Hold­ings Inc’s bro­ker­age unit, in the months be­fore its par­ent filed for bank­ruptcy pro­tec­tion, lost more than $400b in as­sets, ac­cord­ing to the trus­tee over­see­ing cus­tomer ac­counts. Lehman’s hold­ing com­pany filed for bank­ruptcy Sept 15 claim­ing $639 bil­lion in as­sets, us­ing four-mon­thold data. The wholly owned bro­ker­age unit shrank to less than $100 bil­lion in as­sets from $500 bil­lion ‘a few months ago’, ac­cord­ing to a Sept 19 court state­ment…

“The loss in value was caused by “changes in the mar­ket”, ac­cord­ing to Gid­dens, a part­ner at law firm Hughes Hub­bard & Reed… The runoff may in­di­cate Lehman’s cus­tomers, in­clud­ing many hedge funds, can­celled… trades as they be­gan to doubt the firm’s abil­ity to nav­i­gate the credit crunch…”

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