Saturday, April 19, 2008

Time to head for the Blue Mountains and enjoy conversation with Dr Cope who is aware of the Depression we had to have ...

GEORGE Soros, billionaire, philanthropist and hedge fund legend, has characterised today's situation in global markets as the most severe since the Great Depression It is like Great Recession or Black Dog

Soros of Opes Best and Worst of Times
Soeey but Soros says house prices in the US, UK, Australia and elsewhere would continue to come under severe pressure. George Soros gives his ten cents’ worth on the global credit crisis and the paradigm shift needed to escape it. There is something rotten in the state of the markets

Even so, he noted, the financial crisis is beginning to have serious effects on the real economy, adding: The extent of that is not, in my opinion, yet fully recognised. All told, investors are facing the “worst financial crisis of our lifetime”, Mr Soros said. When some men speak the world listens. Mega entrepreneur and socially conscious George Soros just happen to be one such man.
The City of London faces a severe recession and the UK economy is set to follow the US into a sharp downturn, according to a gloomy prognosis from the billionaire financier George Soros.
Regulators have abandoned their duty by letting markets regulate themselves. It's because a market fundamentalist ideology has come to dominate the behaviour of market participants and market regulators over the past 25 years ... and the idea that markets are best left to their own devices became policy.
I have operated a hedge fund myself, said Mr Soros, whose famous bet against the British pound earned his Quantum Fund $US1 billion in 1992. I have never used the kind of leverage others have employed and some of them have not proven to be sustainable. In that regard, Mr Soros said he believed the amount of leverage that hedge funds and other players are using needed to be regulated. But, he said, that regulation should be done through the banks.

• The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means Soros: It's like the Great Depression ; [The government is apparently guilty of trying to ensnare first time-buyers into negative equity by offering the banks the chance to swap their mortgage backed securities for government backed bonds. Or at least so says Alice Miles in today's Falling house prices are not a cause for alarm ; George Soros has made doom-and-gloom predictions for the U.S. economy – again. Naturally, it resulted in the New York Times dubbing him a prophet. NY Times Praises Soros as 'Prophet']
• · As if Australia’s financial regulators weren’t damaged enough, now we’ve Mick Gatto brazenly parading for the media as an alternative debt collector for creditors - This whole fiasco is extraordinarily damaging for the reputation of our financial markets. Bring on the Royal Commission - BURLY stand-over men, missing millions, a Maserati, forfeited passports and an international money hunt … the saga of Opes Prime is a plot writer's dream. John Khoury THE plot thickened further yesterday in the Opes Prime scandal ; About a dozen top-of-the-range Italian sport cars have been seized by the receivers of a company linked to the failed stockbroking firm Opes Prime in a quest to track down tens of millions of dollars for their main lender. In an operation that straddled Singapore and Australia, 10 to 12 of the luxury cars, thought to be Maseratis and Ferraris, were claimed by a team of investigators from Deloitte Corporate Reorganisation Deloitte Corporate Reorganisation.; Royal Stock THIS is the man underworld figure Mick Gatto probably wants to talk to in Singapore about the Opes Prime collapse. Investigators know that hundreds of millions of dollars in cash and shares were routed through a company registered in the British Virgin Islands but which operates from Singapore. That company, Riqueza BVI, is wholly owned by Jay Moghe, a former Opes employee who claims he had no control over the money flows. Mr Gatto wants to have words with Mr Moghe who claims to have already disclosed all he knows. Trying to untangle a perplexing plott
• · The investigation into the collapse of stockbroking firm Opes Prime has widened to include allegations that directors may have used a tax-haven registered company to support company share prices, thereby avoiding margin calls on their own accounts. Investigators have begun puffing apart thousands of transactions involving the Opes Prime directors private investment companies, Leveraged Capital and Hawkswood Investments, as well as a mysterious British Virgin Islands-domiciled company Riqueza, which was seized yesterday by administrators. Tax Virgins; Google and so many links to OOPS and Opes
• · · John Lindholm from corporate recovery specialist Ferrier Hodgson named British Virgin Island holding company Riqueza as a "linchpin" in investigations of the collapsed stockbroking company. Opes Prime was established in 2004, with three principals running the show: Laurie Emini, a financier who once worked for the ANZ Bank; Julian Smith, a stockbroker who started out in Britain; and Anthony Blumberg, who had worked in banking and finance for a number of big accountancy firms. Laurie Emini ; MELBOURNE'S underbelly surfaced in the foyer of Singapore's five-star Shangri-La Hotel yesterday, with Mick Gatto and two associates holding court in the lobby as several local "friends" kept unwanted guests at bay. Shangri-La Hotel
• · · · In this article you’ll get tips on how to make a strong first impression and answer interview questions, and you’ll learn the verbal and nonverbal communications you should employ and avoid so that you can ace the interview How to ace an executive level job interview ; Discerning what your prospective boss wants from you is a survival skill everyone should have, particularly in IT, where duties, responsibilities and expectations are frequently underdefined or unarticulated. What will your new boss really want?,
• · · · · The internet “was built without a way to know who and what you are connecting to”. That is bad enough in the private sector, where the only thing at stake is money. For dealing with government, it is potentially catastrophic. Technology can - just about - tell how an internet user got online. It can check the authenticity of passwords and logins, and validate smart cards or biometric checks. But such data, even if encrypted, can be stolen, borrowed, guessed or intercepted. Financial institutions and their customers are routinely defrauded by cybergangsters, and there is little legal basis for dealing with cybercrime. Identities are valuable and so are stolen - cybercriminals have been targeting individual internet users with spyware and phishing. But the huge databases held by governments would be a much bigger prize. Super Identity parade ; Swonk called it the "biggest inequality since the Great Depression. Not only are the rich getting richer, there are more of them, and those who are rich . Super bubble