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It is simple as one poster said they want human shields. Would our leaders in the 40s or 50s allow this? Would our great ally the UK allow it?

Never but since we live in a time where our so called leaders are more interested in appeasing these maniacs then defend our country or help our allies. So Nancy Pelosi I bet she thinks if we just look away everything will be fine and if that does not work maybe a nice tea party.

I guess we just have to wait for another attack for this country to wake and figure out our ememies are playing us like a piano and will continue to until we get some stones to defend our culture and our right to live on this planet and not be concerned what the islamo facists think or do.

A former military aide to President Clinton who claims he witnessed several missed opportunities to capture or kill Osama bin Laden says the producer of the ABC mini-series "The Path to 9/11" came to him in frustration after network executives under a heavy barrage of criticism from former administration officials began pressing for changes to the script.

In an interview with WND, retired Air Force Lt. Col. Robert "Buzz" Patterson said producer and writer Cyrus Nowrasteh called him the morning of Sept. 1, explaining he had used Patterson's book "Dereliction of Duty" as a source for the drama.

Later that day, Nowrasteh brought a preview copy of "The Path to 9/11" to Patterson for him to view at home. Patterson, who says he has talked with the director seven or eight times since then, also received a phone call from an ABC senior vice president, Quinn Taylor.

Patterson told WND he recognizes the television production conflates several events, but, in terms of conveying how the Clinton administration handled its opportunities to get bin Laden, it's "100 percent factually correct," he said.

"I was there with Clinton and (National Security Adviser Sandy) Berger and watched the missed opportunities occur," Patterson declared.

The five-hour drama is scheduled to air in two parts, Sunday night and Monday night, Sept. 11.

As a military aide to President Clinton from 1996 to 1998, Patterson was one of five men entrusted with carrying the "nuclear football," which contains the codes for launching nuclear weapons.

I love Savage because he tells the truth, he doesn't care if the advertisers don't like it he can just get new ones.

We need this man on 24 hours a day to counter the leftist we Hate America Liberal Scumbags that are the Terrorists best friend. I was glad to see this thread...long live Savage he is what this country needs more then anything.

And the best part the liberals hate him almost as GWB. Don't forget to ABC mini series about the truth of 9/11 called "The Path to 9/11" Sunday night check local listings, this is something the Clintons are very nervous about why? Because it is the truth...have a great evening.

I am glad he posted his email too. The incompetence of the Clinton admin started the day the WTC was bombed in 1993 4 more attacks and he did nothing because the polls would not have been good.

This cowarderly act helped make OBL a star in the middle east and helped so much to show that mighty America could be scared in to submission. No can tell me we would where we are today with the terrorists if Clinton had do his job in 1993.

Now the truth is coming out and the left is for truth so here it is fellas...Clinton will go down as the President that helped start a 100 year war by being a nothing and doing nothing.

$6 billion per day.

And here is REFCO with well over $10 billion of securities it sold, but hasn't delivered.

There are three possible explanations:

1) Mr. Thompson parsed the truth with such dexterity that the number he advanced was incorrect in the extreme.

2) The number Mr. Thompson advanced did not include ex-clearing FTD's. For a complete primer on the implications of this, as well as the terminology, Click Here.

3) Those are all legitimate short sales. Possible. Somehow though my gut says that isn't the case. Legitimate short sales would have shares borrowed prior to selling and would have the borrowed shares shown as an asset, offsetting the sold shares. Based on that reasoning the "sold but not yet purchased" shares should be nil. But why speculate?

I think it's time that we find out, no? Why guess any longer - let's get it out on the table.

Because the way it looks to me, REFCO is only one entity, and has over $10 billion on the books of FTD's. And until I see differently, there's not one bit of data to suggest that most of the $10 billion is legit.

These guys were being sanctioned for being involved in a prior naked short selling scheme, and were known as the go to guys for questionable types desiring greater "flexibility" in their trading. They lied to their auditors, the SEC and the public about their financial condition. Their CEO has been cuffed. I think there's reason to believe that this liability is the smoking gun the industry has been dreading.

What we do know is that the wild eyed conspiracy theories that I have been accused of spinning now look tame. One company appears to have over $10 billion in FTD's. That is no longer a speculation or a conspiracy theory. It is a fact. As in immutable, manifest, and clear.

You heard about this here first. Many months ago. In March, when I was speculating about a catastrophically large level of fails in the system, being covered up by the brokers and the SEC. When I was writing about special purpose entities being used to hide the size of the problem.

And here we are.

The whole BK filing can be viewed with horror here.

I'm not going to go into the 2% of their claimed assets that are intangibles. Or the offsetting assets which collateralize the FTD's. It doesn't really matter. If I'm right. the first time some of those shares are bought in the $10 billion will likely jump to $20 billion, and several large hedge funds will likely vaporize as their cash requirements eclipse their assets.

This is the systemic risk issue I've been warning about.

And this is just REFCO. One company. Only one.

I think we need to know what the composition of the $10 billion actually is.

Because the problem is now one of credibility. Our regulators and the DTCC appear to have been misstating the extent of this crisis to the point where their numbers don't even begin to speak to the real size of the problem. No wonder they hate discussing it. No wonder they grandfathered in all the prior fails. No wonder it justifies secrecy rivaling the Manhattan Project. I'd like to see a list by security of those FTD's. There's no point in keeping them secret anymore. I'd like to see how many NFI shares, and OSTK shares, and TASR shares, and NAVR shares are in there. And I'd like to understand who is violating the rules to the tune of $10 billion just at REFCO. I think that is reasonable. The hackneyed platitudes that the SEC "doesn't want to cause volatility or give away the trading secrets of the participants" are hollow. We don't want speculations and more guesses as to how much of the $10 billion are FTD's. We deserve facts now.

And guess what? We know the trading secret now. You just print shares in the back room to your heart's content. It isn't a secret. And frankly, IT NEVER SHOULD HAVE BEEN.

I'd like to see a Congressional hearing immediately, and I'd further like to hear Shelby share with us why he didn't feel that it was time yet to convene the Senate Banking Committee about the matter, when Bennett was pushing for it.

I'd like to see a special prosecutor cut through the secrecy and BS and tell us how many billions, hundreds of billions, have been stolen from us, and by whom.

And I'd like to see the system do its bare minimum job, and settle the trades.

This is going to be the biggest crisis to hit Wall Street in our generation. Mark my words. Cat's out of the bag now. And the SEC and Wall Street have some explaining to do. And some stock to buy, seems like.

$10 billion with just one company at today's wildly depressed prices. If those are all, or mostly FTD's, Houston, we have a problem.

If you've been wondering why your stocks don't ever seem to go up much, you now have a likely answer. The system has been printing billions and billions and billions of dollars worth of shares and selling them with predatory, unbridled aggression.

The class action attorneys are going to go crazy over this. What do the other, larger brokerages have hiding in the back room? How much bigger can this get? Are we talking trillion dollar real world contingent liability? Can anyone even guess at this point?

Is it really possible that the SEC has allowed Wall Street to steal trillions from us, using counterfeit shares? I don't know about you, but it sure now seems like any money I've lost in the market wasn't so much a function of bad luck or ineptness. It was theft, pure and simple. I was robbed. So were you. And now we see that the robbery isn't in our imaginations.

It's no longer speculation.

It is now a matter of the public record, and it is a national disgrace. Tell us what the $10 billion means. Level with us. It's about time.

And if those are FTD's, it's time to settle the trades, and make the perpetrators start paying their bills.

posted by bob obrien at 4:47 PM 7 comments Thursday, October 20, 2005 An Introduction to Naked Short Selling - Failing To Deliver I've been asked a number of times over the last week to come up with a one-stop shop where interested readers could learn enough about the naked short selling crisis to be dangerous. It isn't an editorial so much as it is the intro to a chapter in the book I am working on, thus it has been moved to a more appropriate place than the Sanity Check op-ed blog.

The piece has been made a permanent part of the NCANS.net site. It can be viewed here.

posted by bob obrien at 12:00 PM 10 comments

I have prayed for Baseball's Mother...but I wanted to comment on what great loving people are here on Free Republic. I feel like I am with friends...that is such a good feeling especially in the world in which we live.

God Bless all of you that have responded I know if I ever have a need for support I know I can come here and that is priceless and comforting.
abletruth

Baseball---I have gone through the same thing so I know how you feel. I will pray for your Mother but I am emailing a prayer to one of the holiest places in the world...a place where Jesus prayed and almost every religous figure has prayed there too.

I am talking aboyt the "Wailing Wall in Jerusalem" the monks print the prayers out everyday and then place them in the cracks as millions of people have for thousands of years have done.

I found comfort doing this when my Dad was ill...I will send one but I will give you the link so you can too and anyone else. My best to you and your family God Bless.

http://www.virtualjerusalem.com/send_a_prayer/index.php

Scroll down to write your prayer...

abletruth

Sandy Berger should be in Leavenworth doing hard time for treason, yet he will try to make people believe that Louis Freeh is a kook...Clinton hired him and prasied him until he wouldn't be a Clinton lap dog. CBS the lying Al Jezzera network of America...Where is Mike Wallace with the forged docs?
able

When "The Rev was running for Prez...still hard to beieve" he didn't make it because he had his plane tickets voided because he owed his travel agency about $163K that is some serious cash.

Seems like the Rev likes to think he is wealthy but is not, he believes that by staying at swank hotels and hanging out with the beautiful people he has become one?

That he has class, well Rev you can't buy class, now just like some other things in life you can rent some for a while...but to have it full time comes from a lot of things the Rev has never had and never will.
abletruth

Texas, Ramadon is supposed to be the perfect time. The hurricanes are signs from their so called God giving them permission to do so. I don't want an attack but unfortunately the liberals of this country have the arrogant attitude they can deal with these animals.

Just ask Saudi they paid them for ten+ years and they were attacked, the animals have loyalty to no one, they are losers and always will be. They hate the fact that they have not accomplish a dam thing in 400+ years. So they decide they will destroy what we worked so hard to build.

It will nver happen...at best some dirty bombs, not good but they would pay dearly. You sound like you believe their Muslim countries would intervene...Hardly if they thought they could prosper they would go along with it.

I guess you have been drinking the cool aid at CNN.
Bring it on Islamic pigs and get ready because we are.
abletruth

Dyno--Well said...If we get another attack and I believe will maybe it will wake the Gov and the press that thee dags have to exterminated like rats.

The press has made us forget 9/11...but when we are hit again and theat very well could be this month they will then blame Bush...when in fact they have aidded and abbetted the subhumans that we will all die trying to kill because we will never surrender...it is not in our nature.

As I said the Islamic maniacs tried 400 years ago to do the same thing and they were defeated and they will be again but there will be bloodshed on both sides, regreetably then maybe the arrogance of the keft will se these people can not be dealt with unless we give them the keys to America...nit going to happen. Japen made the same mistake and paid dearly..And it was the right and only decision to make.
able

Irving...I agree, time to get down and play the way they do...maybe if we had 10 years a go we would not have given them this image of being scared to death..The death that is coming is for them...
I am a Christian but I have to defend myself from the evil devil dogs they are...Bring it on...
able

The Islamic maniacs totally underestimate westerners, we would never give in to them. They will never have the power to do so. I agree we have to kill as many as possible, we have to show no mercy, we have be as ruthless as they are.

I don't like saying because my relgion doesn't condone hacking off heads and treating women like farm animals,
We will destroy with great prejustice, we are never going to give in to these subhumans.

They want war we will give them war and we will do what we have to nobody can tell me the towelheads can scare the west in to surrendering to them...a hollow dream. I say bring it on, let's get this party started and let's teach them that when they go after us they will pay dearly and if so we will chase them through a thousand life times to appease their crimes against us.

Come on Islam...let's see your power you talk alot but that is about it...blowing up a night club is a real victory isn't it, innocent people is all you can kill because you don't have the stones to go up against us...so bring it on.
abletruth

Yea...Be the slaves of the Islamics manics I don't know of one westerner that would not die before living under these subhumans. They lost 400 years ago and they will lose again, they think we are so afraid when in reality we "Anmericans" can be some of the craziest opponents they will face. So much with the idle threats bring it on and lets' just see who wins.

You think because you brought two building down you will win always? Think again...You nuke us...then get ready because one thing you cannot do or anyone else is track out nuke subs and we can park on outside any country and if you want to go warhead to warhead...you better get working we have a 50 years start and your bombs are as crude as your thinking.

We can hit a target 5 feet across from 4,000+ miles...You might get a dirty bomb off...Islam they were loser 400 years ago and history will repeat it's self because they is one God son and David Father to Jesus...period.
abletruth

It is just Sheen who thinks he is the Prez...Sutherland is a pt smoking limey that should look at his own country before being critical of ours.
He makes all his money in America I wonder if he hs a duel citizenship...I hope alot of people read about his arogance...Don Sutherland, actor, high school drop out and now political expert...

Go Home Limey and stay there we have enough mentally ill liberals here is America...What a lout
abletruth

Alberta is rich in petro dollars but Sask. especially the FALC region around Prince Albert has some of the largest diamond "DeBeers" and mining companies buying claims of hugh amounts of land.

Sask has as much crude tar/sand oil as Saudi does right now and always has but there has not been an extraction process until the last few years. The biggest player is a small Las Vegas, NV company called CMKX which has about 1.8M to 1.9M areas in and around the FALC region. Their claims totally surround DeBeers. In 2001 it was thought that they had kimberlite formations "the formation that produce diamonds" with over 200 anomalies with one said to be 8mile X 5mile, then in the past 6 months tar/sand oil hs been discovered so not only is Alberta rich in oil Sask. has what some are saying as the richest rare earth minerals ever found in such a concentrated area or the 16 "IUM" minerals with a large deposit of Uranium.

I bet the US would much rather spend out petro dollars on Canadian crude then middle east crude. This has gotten so big Halliburton is looking at potential work with their oil extraction process.

Canada could very well be the next super power in minerals/oil/natual gas and diamonds that are said to be of color and clarity never seen before because it's geograhical location as opposed to say South Africa.

It is almost like a modern day mineral race in Sask and up the NWT. Keep an eye on Shore Gold, Kennsington "Recent merger" Petro China is looking and CMKX along with USCA and Gemm. It is time America drilled for it's own crude or buy it from our friend Canada instead of being held to the middle east's games.

I as an American would much rather send my money to my friends in Canada.
able

It is my opinion that Clinton always considered what was good for him and his legacy which he is obcessed with. He never wanted to anything that would cause the public to dislike him or the polls, he however was able to go to Kosovo to start a war to wipe his affair off the front page.

The planning was sloopy we hit the Chinese embassy, we took out all the bridges and most of the infrastruction only to have to rebuild it later. That is not what we did in Iraq because we had planners that knew what they doing in respect to that issue.

If Clinton had not put two FBI agents on the bombing of WTC 93 we might not had emboldened our enemy. Yje left would have us believe that the terrorists just decisded one to hit us, the attack on WTC 2001 was after years of coward indecisions by Clinton who couldn't even plan and execute an affir with a 21 year on his stff let alone a whole war. Able Danger will expose the incredible incompetense of Clinton and all the attornies he placed at all levels in our Gov.

The days of protecting Willy are over he can no longer take peopl's jobs and have IRS investigation done at his whim. The truth will show a man that was always more interested in himself and never the country he was the President of. Just to clear one thing up Clinton never created 2.2 million jobs he hired 2.2 people in to the federal gov and called that job creation.

Bill Clinton a bumbling fool that cost America more then any other Ptrez all because he was so obcessed with his legacy and we all know what that will be. abletruth

I am listening to Michael Savage right now...Sen Curt Wheldon said that 2.5 Terrabytes of info was ordered destroyed in 1999 about A Quaida, that is 1/4 of the Library of Congress and it is going to be the biggest scandal ever. The Pentagon is doing everything they can to keep this out of the press. I post the Savage on this site but it was removed? The 9/11 commission knew of the 2.5 terrabytes that were destroyed and did nothing. I am livid and outraged and feel like I live in N Korea.
abletruth

I love when idiots like Gore cite our records...we have 100 years of records but we have 10 million years of what our atmosphere has been and they thinbk we can use 100 years as a baseline. What we are seeing is the natural eb and flow of our weather and nothing more.

People like Gore want to believe that we have created this so they can gives speeches and say we are to balme...if it isn't the terrorists it's the weather now that we have andered. Gore has to be one of most ilinformed men on the planet and the most guilble as well.

I loathe him as I do no other. I never can get the imagine of him standing next to a 10 ft Budda and then saying "I didn't realize it was a Buddist Temple...that is how stupid he thinks we are"

Thank you "An Italian" we want you to come to our country any time. America is sadly a sleep because of our liberal media that perpetuates the liberal thinking that Islam is a kind and gentle religion...it is not your country has suffered too from this hate filled relgion that is a killer cult.

To all Americans wake up and denouce the Islamic wave that is covering America, we have so many pot heads left over liberals that think people are truly honest...sadly they are not, the watered down version of the Koran is in every corner of America and Americans are so gulible that it will take the people of this board and people like you in your country to open the eyes of those that can not think for themselves and especially the young that believe freedom just appaered they have no concept as to how many died and how many suffered for them and our freedoms.

Watch your children the hate filled Islamic warriors know our children are mainly stupid and without any sense of being an American I hope that is not true in Italy. Today is special but unless we make our media tell the truth we are in for a long slog but we have the most powerful force with us God...son of David and Jesus son of God at our side...Thanks "an italian" I wish you the best...
abletruth
PS I sure love Ferrari's and Italian suits...