mojo's Account Talk

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You know what, tax protesters that don't pay taxes don't even blip my radar.
On the other hand these hypocritical bastards talking about restoring puplic trust and how there can't be two sets of standards really **** me off. Geithner in charge of the IRS, change we can believe in?
 
momacs said:
I agree, hopefully the changes that he recommends will be implemented and all the crap that has been going on stops
Click to expand...

The thing is that this type of incompetence and apathy is endemic throughout so many government agencies.
 
 
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Wikipedia Definition "legatus"

http://en.wikipedia.org/wiki/Legatus
"A legatus (often anglicized as legate) was a general in the Roman army, equivalent to a modern general officer. Being of senatorial rank, his immediate superior was the dux, and he outranked all military tribunes. In order to command an army independently of the dux or provincial governor, legates were required to be of praetorian rank or higher; a legate could be invested with propraetorian imperium (legatus propraetore) in his own right. Legates received large shares of the army's booty at the end of a campaign, which made the position a lucrative one, so it could often attract even distinguished consulars (e.g., the consular Lucius Julius Caesar volunteered late in the Gallic War as a legate under his first cousin once removed, Gaius Julius Caesar).
The men who filled the office of Legate were drawn from among the senatorial class of Rome. There were two main positions; the legatus legionis was an ex-praetor given command of one of Rome's elite legions[1], while the legatus propraetor was an ex-consul, who was given the governorship of a Roman province with the magisterial powers of a praetor, which in some cases gave him command of four or more legions.
This rank was also the overall Legionary commander. This post was generally appointed by the emperor. The person chosen for this rank was a former Tribune and held command for 3 or 4 years, although he could serve for a much longer period. In a province with only one legion, the Legatus was also the provincial governor, but in provinces with multiple legions, each legion had a Legatus and the provincial governor (who was separate from the legions) had overall command of them all."



Here is the membership criteria.

http://www.legatus.org/public/MemCriteria.asp

Their event in Burmuda this Weekend

http://www.legatus.org/public/Upcoming_Events/09SummitBermuda.asp
 
7:28 AM, 19 Nov 2008
Alan Kohler
A tsunami of hope or terror?

TOP News

As the world slips into recession, it is also on the brink of a synthetic CDO cataclysm that could actually save the global banking system.

It is a truly great irony that the world’s banks could end up being saved not by governments, but by the synthetic CDO time bomb that they set ticking with their own questionable practices during the credit boom.

Alternatively, the triggering of default on the trillions of dollars worth of synthetic CDOs that were sold before 2007 could be a disaster that tips the world from recession into depression. Nobody knows, but it won’t be a small event.

A synthetic CDO is a collateralised debt obligation that is based on credit default swaps rather than physical debt securities.

CDOs were invented by Michael Milken’s Drexel Burnham Lambert in the late 1980s as a way to bundle asset backed securities into tranches with the same rating, so that investors could focus simply on the rating rather than the issuer of the bond.

About a decade later, a team working within JP Morgan Chase invented credit default swaps, which are contractual bets between two parties about whether a third party will default on its debt. In 2000 these were made legal, and at the same time were prevented from being regulated, by the Commodity Futures Modernization Act, which specifies that products offered by banking institutions could not be regulated as futures contracts.

This bill, by the way, was 11,000 pages long, was never debated by Congress and was signed into law by President Clinton a week after it was passed. It lies at the root of America’s failure to regulate the debt derivatives that are now threatening the global economy.

Anyway, moving right along – some time after that an unknown bright spark within one of the investment banks came up with the idea of putting CDOs and CDSs together to create the synthetic CDO.

Here’s how it works: a bank will set up a shelf company in Cayman Islands or somewhere with $2 of capital and shareholders other than the bank itself. They are usually charities that could use a little cash, and when some nice banker in a suit shows up and offers them money to sign some documents, they do.

That allows the so-called special purpose vehicle (SPV) to have “deniability”, as in “it’s nothing to do with us” – an idea the banks would have picked up from the Godfather movies.

The bank then creates a CDS between itself and the SPV. Usually credit default swaps reference a single third party, but for the purpose of the synthetic CDOs, they reference at least 100 companies.

The CDS contracts between the SPV can be $US500 million to $US1 billion, or sometimes more. They have a variety of twists and turns, but it usually goes something like this: if seven of the 100 reference entities default, the SPV has to pay the bank a third of the money; if eight default, it’s two-thirds; and if nine default, the whole amount is repayable.

For this, the bank agrees to pay the SPV 1 or 2 per cent per annum of the contracted sum.

Finally the SPV is taken along to Moody’s, Standard and Poor’s and Fitch’s and the ratings agencies sprinkle AAA magic dust upon it, and transform it from a pumpkin into a splendid coach.

The bank’s sales people then hit the road to sell this SPV to investors. It’s presented as the bank’s product, and the sales staff pretend that the bank is fully behind it, but of course it’s actually a $2 Cayman Islands company with one or two unknowing charities as shareholders.

It offers a highly-rated, investment-grade, fixed-interest product paying a 1 or 2 per cent premium. Those investors who bother to read the fine print will see that they will lose some or all of their money if seven, eight or nine of a long list of apparently strong global corporations go broke. In 2004-2006 it seemed money for jam. The companies listed would never go broke – it was unthinkable.

Here are some of the companies that are on all of the synthetic CDO reference lists: the three Icelandic banks, Lehman Brothers, Bear Stearns, Freddie Mac, Fannie Mae, American Insurance Group, Ambac, MBIA, Countrywide Financial, Countrywide Home Loans, PMI, General Motors, Ford and a pretty full retinue of US home builders.

In other words, the bankers who created the synthetic CDOs knew exactly what they were doing. These were not simply investment products created out of thin air and designed to give their sales people something from which to earn fees – although they were that too.

They were specifically designed to protect the banks against default by the most leveraged companies in the world. And of course the banks knew better than anyone else who they were.

As one part of the bank was furiously selling loans to these companies, another part was furiously selling insurance contracts against them defaulting, to unsuspecting investors who were actually a bit like “Lloyds Names” – the 1500 or so individuals who back the London reinsurance giant.

Except in this case very few of the “names” knew what they were buying. And nobody has any idea how many were sold, or with what total face value.

It is known that some $2 billion was sold to charities and municipal councils in Australia, but that is just the tip of the iceberg in this country. And Australia, of course, is the tiniest tip of the global iceberg of synthetic CDOs. The total undoubtedly runs into trillions of dollars.

All the banks did it, not just Lehman Brothers which had the largest market share, and many of them seem to have invested in the things as well (a bit like a dog eating its own vomit).

It is now getting very interesting. The three Icelandic banks have defaulted, as has Countrywide, Lehman and Bear Stearns. AIG has been taken over by the US Government, which is counted as a part-default, and Freddie Mac and Fannie Mae are in “conservatorship”, which is also a part default – a 'part default' does not count as a 'full default' in calculating the nine that would trigger the CDS liabilities.

Ambac, MBIA, PMI, General Motors, Ford and a lot of US home builders are teetering.

If the list of defaults – full and partial – gets to nine, then a mass transfer of money will take place from unsuspecting investors around the world into the banking system. How much? Nobody knows, but it’s many trillions.

It will be the most colossal rights issue in the history of the world, all at once and non-renounceable. Actually, make that mandatory.

The distress among those who lose their money will be immense. It will be a real loss, not a theoretical paper loss. Cash will be transferred from their own bank accounts into the issuing bank, via these Cayman Islands special purpose vehicles.

The repercussions on the losers and the economies in which they live, will be unpredictable but definitely huge. Councils will have to put up rates to continue operating. Charities will go to the wall and be unable to continue helping those in need. Individual investors will lose everything.

There will also be a tsunami of litigation, as dumbfounded investors try to get their money back, claiming to have been deceived by the sales people who sold them the products. In Australia, some councils are already suing the now-defunct Lehman Brothers, and litigation funder, IMF Australia, has been studying synthetic CDOs for nine months preparing for the storm.

But for the banks, it’s happy days. Suddenly, when the ninth reference entity tips over, they will be flooded with capital. It’s possible they will have so much new capital, they won’t know what to do with it.

This is entirely uncharted territory so it’s impossible to know what will happen, but it is possible that the credit crunch will come to sudden and complete end, like the passing of a tornado that has left devastation in its wake, along with an eerie silence.
​
 
This is like a Dan Brown story. reinhardt says all this will happen this week. CDO cataclysm.

If you start following this web it just keeps going. Wild story.

http://www.enterprisecorruption.com/?page_id=2013

If you register there is a lot of discussion and links here

http://www.wiredpirate.com/forum/viewtopic.php?f=123&t=1083


Re: What are the "9 predictions"?

by eagle_00 on Sun Feb 08, 2009 10:15 am
Hey dragon ,

"http://gawker.com/5050016/how-legatus-brought-down-wall-street"

"http://finance.google.com/group/google.finance.695596/browse_thread/thread/5a9f04e20e850e47?hl=en#"

"http://finance.google.com/group/google.finance.695596/browse_thread/thread/9e9172f297685d6a?hl=en#"

"http://finance.google.com/group/google.finance.695596/browse_thread/thread/2ff8589bcedec679?hl=en#"

"http://groups.google.com/group/alt.politics.bush/browse_thread/thread/9cd47ee4ee49281/32f308c3917b6a71?lnk=st&q=#32f308c3917b6a71"

15-Sept-09.
"http://finance.google.com/group/google.finance.983582/browse_thread/thread/aad550b590f931bf"

Additional warning on 28-Sept-08 to sell risky assets before 3.Oct-08

Is that what you want to know ?

http://moneynews.newsmax.com/streettalk/stocks/2008/09/02/126965.html
 
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by Matt on Sun Dec 07, 2008 12:16 pm
Written by Reinhardt
Why the Worlds Major Banks are on the Verge of Collapse

This I thought warranted its own thread - it explains why the current crisis is far worse than most people realise & why the banks are teetering on the edge of an economic abyss:

Around the world, banks must comply with what are known as Basel II regulations. These regulations determine how much capital a bank must maintain in reserve. The rules are based on the quality of the bank's loan book. The riskier the loans a bank owns, the more capital it must keep in reserve. Bank managers naturally seek to employ as much leverage as they can, especially when interest rates are low, to maximize profits. AIG appeared to offer banks a way to get around the Basel rules, via unregulated insurance contracts, known as credit default swaps.

Here's how it worked: Say you're a major European bank... You have a surplus of deposits, because in Europe people actually still bother to save money. You're looking for something to maximize the spread between what you must pay for deposits and what you're able to earn lending. You want it to be safe and reliable, but also pay the highest possible annual interest. You know you could buy a portfolio of high-yielding subprime mortgages. But doing so will limit the amount of leverage you can employ, which will limit returns.

So rather than rule out having any high-yielding securities in your portfolio, you simply call up the friendly AIG broker you met at a conference in London last year.

"What would it cost me to insure this subprime security?" you inquire. The broker, who is selling a five-year policy (but who will be paid a bonus annually), says, "Not too much." After all, the historical loss rates on American mortgages is close to zilch.

Using incredibly sophisticated computer models, he agrees to guarantee the subprime security you're buying against default for five years for say, 2% of face value.

Although AIG's credit default swaps were really insurance contracts, they weren't regulated. That meant AIG didn't have to put up any capital as collateral on its swaps, as long as it maintained a triple-A credit rating. There was no real capital cost to selling these swaps; there was no limit. And thanks to what's called "mark-to-market" accounting, AIG could book the profit from a five-year credit default swap as soon as the contract was sold, based on the expected default rate.

Whatever the computer said AIG was likely to make on the deal, the accountants would write down as actual profit. The broker who sold the swap would be paid a bonus at the end of the first year – long before the actual profit on the contract was made.

With this structure in place, the European bank was able to assure its regulators it was holding only triple-A credits, instead of a bunch of subprime "toxic waste." The bank could leverage itself to the full extent allowable under Basel II. AIG could book hundreds of millions in "profit" each year, without having to pony up billions in collateral.

It was a fraud. AIG never any capital to back up the insurance it sold. And the profits it booked never materialized. The default rate on mortgage securities underwritten in 2005, 2006, and 2007 turned out to be multiples higher than expected. And they continue to increase. In some cases, the securities the banks claimed were triple A have ended up being worth less than $0.15 on the dollar.

Even so, it all worked for years. Banks leveraged deposits to the hilt. Wall Street packaged and sold dumb mortgages as securities. And AIG sold credit default swaps without bothering to collateralize the risk. An enormous amount of capital was created out of thin air and tossed into global real estate markets.

On September 15, all of the major credit-rating agencies downgraded AIG – the world's largest insurance company. At issue were the soaring losses in its credit default swaps. The first big writeoff came in the fourth quarter of 2007, when AIG reported an $11 billion charge. It was able to raise capital once, to repair the damage. But the losses kept growing. The moment the downgrade came, AIG was forced to come up with tens of billions of additional collateral, immediately. This was on top of the billions it owed to its trading partners. It didn't have the money. The world's largest insurance company was bankrupt.

The dominoes fell over immediately. Lehman Brothers failed on the same day. Merrill was sold to Bank of America. The Fed stepped in and agreed to lend AIG $85 billion to facilitate an orderly sell off of its assets in exchange for essentially all the company's equity.

Most people never understood how AIG was the linchpin to the entire system. And there's one more secret yet to come out...

AIG's largest trading partner wasn't a nameless European bank. It was Goldman Sachs.

I'd wondered for years how Goldman avoided the kind of huge mortgage-related writedowns that plagued all the other investment banks. And now we know: Goldman hedged its exposure via credit default swaps with AIG. Sources inside Goldman say the company's exposure to AIG exceeded $20 billion, meaning the moment AIG was downgraded, Goldman had to begin marking down the value of its assets. And the moment AIG went bankrupt, Goldman lost $20 billion. Goldman immediately sought out Warren Buffett to raise $5 billion of additional capital, which also helped it raise another $5 billion via a public offering.

The collapse of the credit default swap market also meant the investment banks – all of them – had no way to borrow money, because no one would insure their obligations.

To fund their daily operations, they've become totally reliant on the Federal Reserve, which has allowed them to formally become commercial banks. To date, banks, insurance firms, and investment banks have borrowed $348 billion from the Federal Reserve – nearly all of this lending took place following AIG's failure. Things are so bad at the investment banks, the Fed had to change the rules to allow Merrill, Morgan Stanley, and Goldman the ability to use equities as collateral for these loans, an unprecedented step.

The mainstream press hasn't reported this either: A provision in the $700 billion bailout bill permits the Fed to pay interest on the collateral it's holding, which is simply a way to funnel taxpayer dollars directly into the investment banks.

Why do you need to know all of these details? First, you must understand that without the government's actions, the collapse of AIG could have caused every major bank in the world to fail.

Second, without the credit default swap market, there's no way banks can report the true state of their assets – they'd all be in default of Basel II. That's why the government will push through a measure that requires the suspension of mark-to-market accounting. Essentially, banks will be allowed to pretend they have far higher-quality loans than they actually do. AIG can't cover for them anymore.

And third, and most importantly, without the huge fraud perpetrated by AIG, the mortgage bubble could have never grown as large as it did. Yes, other factors contributed, like the role of Fannie and Freddie in particular. But the key to enabling the huge global growth in credit during the last decade can be tied directly to AIG's sale of credit default swaps without collateral. That was the barn door. And it was left open for nearly a decade.

There's no way to replace this massive credit-building machine, which makes me very skeptical of the government's bailout plan. Quite simply, we can't replace the credit that existed in the world before September 15 because it didn't deserve to be there in the first place. While the government can, and certainly will, paper over the gaping holes left by this enormous credit collapse, it can't actually replace the trust and credit that existed... because it was a fraud.

And that leads me to believe the coming economic contraction will be longer and deeper than most people understand.
​
"The main function of government is to pretend to fail" -R

http://finance.google.com/group/google.finance.983582/search?q=reinhardt&start=280&sa=N&
 
By Hamilton Nolan, 1:07 PM on Mon Sep 15 2008, 22,622 views
legatus9.jpg
Some people believe that Nostradamus predicted the Wall Street crash of 1929. But a modern age requires modern prophets. On a Google Finance message board last July, one lone nut predicted a market crash. "The negative news that will move the market downward should occur September 15," he wrote. That would be today. This oracle may be raving, but he did predict the future correctly. "This organization below," he went on, "runs the show..."
The Group's Name: Legatus
Its Mission: " To study, live and spread the Faith in our business, professional and personal lives."
What is it?: Legatus—Latin for "ambassador" (and the term for a general in the Roman army)—is a worldwide networking group "designed exclusively for top-ranking Catholic business leaders." Its main stated duty is to bring such leaders together for closed monthly networking meetings. The group calls itself "the conduit connecting two powerful realities, the challenge of top-tier business leadership and a religious tradition second to none."
History: The group was founded in 1987 by Tom Monaghan, the devout Catholic who founded Domino's Pizza. It now boasts "thousands" of members throughout America and in Europe.
It's somewhat reminiscent of Opus Dei, the shadowy Catholic group that starred in The Da Vinci Code. The Google Nostradamus went by the name of reinhardt (though his account has now been banned). He ID'd himself as the author of this conspiracy site as well. Here are some salient portions of his very extensive posts on the connection between Legatus and our current financial blowup:


legatus.jpeg




http://gawker.com/5050016/how-legatus-brought-down-wall-street
 
Last edited:
by David Lightman on Fri Jan 23, 2009 8:38 pm
Yes DIH 2,9,9 = 2+9,9 = 11,9 =WTF?

mask.gif


David Lightman Top

Re: 7:-:3 VV@|2/V1/v6

by seeker401 on Mon Jan 26, 2009 3:05 pm
the date on that pic is 13th feb 2009...ooooooohhh

obama: "LDIMEDILLIGAF"
"He Who Knows The Rules Best Wins The Game"
"Buy To The Sound Of Cannons, Sell To The Sound Of Trumpets"
"Follow The Money"



seeker401 Member Posts: 176 Joined: Sun Dec 07, 2008 1:57 pm

This is one of Reinhardts' (surname David Lightman)post regarding the collapse on Friday the 13th of Feb 2009. As you can see it was made on Jan 23rd 2009. This is a very strange story there are so many connections.
 
This is his supposed last statement before he disappeared and all his videos were deleted from youtube. Creepy.


Re: David Lightman's Youtube account DELETED!

by David Lightman on Thu Feb 05, 2009 7:49 pm
" My Fellow Friends,

Through Months of painstaking investigation, I know we have searched for clues
to tie Legatus to manipulation in the marketplace. Recent discoveries have show me that we
are focusing our energy in the wrong direction.
Since the inception of Legatus, its mission has been to bring Catholic business leaders
and their spouses together in a monthly forum that fosters personal spiritual growth.

The organization offers a unique support network of like-minded Catholics who influence
the world marketplace and have the ability to practice and infuse their faith in the daily
lives and workplaces of their family, friends, colleagues and employees.

Legatus exists to help its members meet the challenge of balancing responsibilities of family,
Church, business and community.
I can assure you that in no way is Legatus involved in any sort of markets or financial manipulation."

May Gods Love fill your Hearts,
Dave Lightman
Last edited by David Lightman on Thu Feb 05, 2009 8:10 pm, edited 1 time in total.
 
U.S. Taxpayers Risk $9.7 Trillion on Bailouts as Senate Votes

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok

By Mark Pittman and Bob Ivry
Feb. 9 (Bloomberg) -- The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged to provide up to $5.7 trillion more if needed. The total already tapped has decreased about 1 percent since November, mostly because foreign central banks are using fewer dollars in currency-exchange agreements called swaps. The Senate is to vote early this week on a stimulus package totaling at least $780 billion that President Barack Obama says is needed to avert a deeper recession. That measure would need to be reconciled with an $819 billion plan the House approved last month.
Only the stimulus package to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates approved in 2008 have been voted on by lawmakers. The remaining $8 trillion in commitments are lending programs and guarantees, almost all under the authority of the Fed and the FDIC. The recipients’ names have not been disclosed.
“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”
Financial Rescue
The pledges, amounting to almost two-thirds of the value of everything produced in the U.S. last year, are intended to rescue the financial system after the credit markets seized up about 18 months ago. The promises are composed of about $1 trillion in stimulus packages, around $3 trillion in lending and spending and $5.7 trillion in agreements to provide aid.
Federal Reserve lending to banks peaked at a record $2.3 trillion in December, dropping to $1.83 trillion by last week. The Fed balance sheet is still more than double the $880 billion it was in the week before Sept. 17 when it agreed to accept lower-quality collateral.
The worst financial crisis in two generations has erased $14.5 trillion, or 33 percent, of the value of the world’s companies since Sept. 15; brought down Bear Stearns Cos. and Lehman Brothers Holdings Inc.; and led to the takeover of Merrill Lynch & Co. by Bank of America Corp.
The $9.7 trillion in pledges would be enough to send a $1,430 check to every man, woman and child alive in the world. It’s 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is almost enough to pay off every home mortgage loan in the U.S., calculated at $10.5 trillion by the Federal Reserve.
‘All the Stops’
“The Fed, Treasury and FDIC are pulling out all the stops to stop any widespread systemic damage to the economy,” said Dana Johnson, chief economist for Comerica Inc. in Dallas and a former senior economist at the central bank. “The federal government is on the hook for an awful lot of money but I think it’s needed to help the financial system recover.”
Bloomberg News tabulated data from the Fed, Treasury and FDIC and interviewed regulators, economists and academic researchers to gauge the full extent of the government’s rescue effort.
Commitments may expand again soon. Treasury Secretary Timothy Geithner postponed an announcement scheduled for today that was to focus on new guarantees for illiquid assets to insure against losses without taking them off banks’ balance sheets. The Treasury said it would delay the announcement until after the Senate votes on the stimulus package.
Program Delay
The government is already backing $301 billion of Citigroup Inc. securities and another $118 billion from Bank of America. The government hasn’t yet paid out on any of the guarantees.
The Fed said Friday that it is delaying the start a $200 billion program called the Term Asset-Backed Securities Loan Facility, or TALF, to revive the market for securities based on consumer loans such as credit-card, auto and student borrowings.
Most of the spending programs are run out of the Federal Reserve Bank of New York, where Geithner served as president. He was sworn in as Treasury secretary on Jan. 26.
When Congress approved the TARP on Oct. 3, Fed Chairman Ben S. Bernanke and then Treasury Secretary Henry Paulson acknowledged the need for transparency and oversight. The Federal Reserve so far is refusing to disclose loan recipients or reveal the collateral they are taking in return. Collateral is an asset pledged by a borrower in the event a loan payment isn’t made.
Fed Sued
Bloomberg requested details of Fed lending under the Freedom of Information Act and filed a federal lawsuit against the central bank Nov. 7 seeking to force disclosure of borrower banks and their collateral. Arguments in the suit may be heard as soon as this month, according to the court docket. Bloomberg asked the Treasury in an FOIA request Jan. 28 for a detailed list of the securities it planned to guarantee for Citigroup and Bank of America. Bloomberg hasn’t received a response to the request.
The Bloomberg lawsuit is Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan).
For Related News and Information:
To contact the reporters on this story: Mark Pittman in New York at mpittman@bloomberg.net ; Bob Ivry in New York at bivry@bloomberg.net .
Last Updated: February 9, 2009 00:01 EST
 
Last edited by a moderator:
Well, according to this guy, something is going to happen this week. I guess we'll find out if he's right. It is really freaky, alot of stuff about it at message boards etc.


mojo said:
This is his supposed last statement before he disappeared and all his videos were deleted from youtube. Creepy.


Re: David Lightman's Youtube account DELETED!

by David Lightman on Thu Feb 05, 2009 7:49 pm
" My Fellow Friends,

Through Months of painstaking investigation, I know we have searched for clues
to tie Legatus to manipulation in the marketplace. Recent discoveries have show me that we
are focusing our energy in the wrong direction.
Since the inception of Legatus, its mission has been to bring Catholic business leaders
and their spouses together in a monthly forum that fosters personal spiritual growth.

The organization offers a unique support network of like-minded Catholics who influence
the world marketplace and have the ability to practice and infuse their faith in the daily
lives and workplaces of their family, friends, colleagues and employees.

Legatus exists to help its members meet the challenge of balancing responsibilities of family,
Church, business and community.
I can assure you that in no way is Legatus involved in any sort of markets or financial manipulation."

May Gods Love fill your Hearts,
Dave Lightman
Last edited by David Lightman on Thu Feb 05, 2009 8:10 pm, edited 1 time in total.
Click to expand...
 
Yes we will know this week I guess. It is a strange story.

Supposedly he goes on this chat site http://widget.mibbit.com/?settings=ff3403fbb3ef3218f435c6c8a9a3c0ca&server=irc.rizon.net&channel=%23rchat&noServerTab=false

and on here http://finance.google.com/group/goo...read/thread/bad6ab8bfec9dc19/97a6d97a248bcabc

After looking into it and being on that chat board while he was on there (supposed to be him) it all seems juvenile and not real to me.

This is a forum that sponsers that chat site and follows him.
http://www.wiredpirate.com/forum/

It's an interesting story and I learned a lot about financial entities while looking into it. Many people who really believe this guy are all upset that nothing catostrophic happened today.

The story about the synthetic CDOs is very interesting and I had never heard of them. They do seem like something that could bring about what he claims will happen.

Legatus is a bit out there though.

Cerberus Capital Managment is interesting. Why would you name your company after a three headed monster that guards Hades?

Overall I think it is a scam but for it to be a scam that means he has just been lucking concerning his predictions so far. We shall see by Friday.
 
Last edited:
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