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As a senior mortgage underwriter, Keysha Cooper was proud of her ability to spot fraud and other problems in a loan application. But as a senior mortgage underwriter at Washington Mutual during the late, great mortgage boom, Ms. Cooper says she found herself in a vise. Brokers squeezed her from one side, her superiors from the other, she says, and both pressured her to approve loans, no matter what. “At WaMu it wasn’t about the quality of the loans; it was about the numbers,” Ms. Cooper says. “They didn’t care if we were giving loans to people that didn’t qualify. Instead, it was how many loans did you guys close and fund?” When underwriters refused to approve dubious loans, they were punished, she says. In February 2007 ... the pressure became intense. WaMu executives told employees they were not making enough loans and had to get their numbers up, she says. “They started giving loan officers free trips if they closed so many loans, fly them to Hawaii for a month,” Ms. Cooper recalls. “One of my account reps went to Jamaica for a month because he closed $3.5 million in loans that month. If a loan came from a top loan officer, they didn’t care what the situation was, you had to make that loan work,” she says. One loan file was filled with so many discrepancies that she felt certain it involved mortgage fraud. She turned the loan down, she says, only to be scolded by her supervisor. Ms. Cooper says that her bosses placed her on probation for 30 days for refusing to approve the loan and that her team manager signed off on the loan.
Note: For lots more on corporate corruption from reliable sources, click here.
Scott Mackler was a husband, father and successful neuroscientist when he received perhaps the worst news imaginable. At the age of 40, he could run a marathon in three and a half hours, but it was about that time he discovered he had ALS, Lou Gehrig's disease. His brain was losing its connection to virtually every muscle in his body. Today, Scott Mackler's mind is sharp as ever, but his body has failed. Doctors call it "locked in" syndrome. Scott and his wife Lynn learned to communicate with about the only thing he has left, eye movement. To signal "yes," Lynn says Scott looks at her; to signal "no," he looks away. [Yet Scott can now write] words, one letter at a time, with nothing but his thoughts and the help of what's called a brain computer interface or "BCI." He wears a cap that picks up the electrical activity of his brain and allows him to select letters simply by thinking about them. Then the computer turns his sentences into speech. "I hate being helpless and when other people put words in my mouth," he wrote. It isn't fast. It takes 20 seconds or so to select each letter. But he writes well enough to continue his research and manage his lab at the University of Pennsylvania, where he still goes to work everyday. Asked what it has meant to their relationship, Scott's wife Lynn tells Pelley, "Well, he's happier. He can communicate with not just us, but with the world. This gave him his independence. His working, intellectual, scientist independence back."
Widespread civil violence inside the United States would force the defense establishment to reorient priorities in extremis to defend basic domestic order and human security. Deliberate employment of weapons of mass destruction or other catastrophic capabilities, unforeseen economic collapse, loss of functioning political and legal order, purposeful domestic resistance or insurgency, pervasive public health emergencies, and catastrophic natural and human disasters are all paths to disruptive domestic shock. An American government and defense establishment lulled into complacency by a long-secure domestic order would be forced to rapidly divest some or most external security commitments in order to address rapidly expanding human insecurity at home. Already predisposed to defer to the primacy of civilian authorities in instances of domestic security and divest all but the most extreme demands in areas like civil support and consequence management, DoD might be forced by circumstances to put its broad resources at the disposal of civil authorities to contain and reverse violent threats to domestic tranquility. Under the most extreme circumstances, this might include use of military force against hostile groups inside the United States. Further, DoD would be, by necessity, an essential enabling hub for the continuity of political authority in a multi-state or nationwide civil conflict or disturbance.
Note: For an analysis which deconstructs the opaque military jargon in which this revealing strategic document is written, click here. Use of military forces to maintain domestic order has been forbidden since 1878 by the Posse Comitatus Act. The Pentagon appears to be planning to abrogate this key support of civil liberties.
Six miles from Urfa, an ancient city in southeastern Turkey, Klaus Schmidt has made one of the most startling archaeological discoveries of our time: massive carved stones about 11,000 years old, crafted and arranged by prehistoric people who had not yet developed metal tools or even pottery. The megaliths predate Stonehenge by some 6,000 years. The place is called Gobekli Tepe, and Schmidt, a German archaeologist who has been working here more than a decade, is convinced it's the site of the world's oldest temple. In the [excavation] pits, standing stones, or pillars, are arranged in circles. Beyond, on the hillside, are four other rings of partially excavated pillars. Each ring has a roughly similar layout: in the center are two large stone T-shaped pillars encircled by slightly smaller stones facing inward. The tallest pillars tower 16 feet and, Schmidt says, weigh between seven and ten tons. Some are blank, while others are elaborately carved: foxes, lions, scorpions and vultures abound, twisting and crawling on the pillars' broad sides. Schmidt points to the great stone rings, one of them 65 feet across. "This is the first human-built holy place," he says. Prehistoric people would have gazed upon herds of gazelle and other wild animals; gently flowing rivers, which attracted migrating geese and ducks; fruit and nut trees; and rippling fields of wild barley and wild wheat varieties such as emmer and einkorn. "This area was like a paradise," says Schmidt, a member of the German Archaeological Institute. He believes this was a place of worship on an unprecedented scale—humanity's first "cathedral on a hill."
Note: For more on this fascinating find, see the Daily Mail article available here.
Financial giants getting injections of federal cash owed their executives more than $40 billion for past years' pay and pensions as of the end of 2007, a Wall Street Journal analysis shows. The government is seeking to rein in executive pay at banks getting federal money. But overlooked in these efforts is the total size of debts that financial firms receiving taxpayer assistance previously incurred to their executives, which at some firms exceed what they owe in pensions to their entire work forces. The sums are mostly for special executive pensions and deferred compensation, including bonuses, for prior years. Some examples: $11.8 billion at Goldman Sachs Group Inc., $8.5 billion at J.P. Morgan Chase & Co., and $10 billion to $12 billion at Morgan Stanley. Few firms report the size of these debts to their executives. In most cases, the Journal calculated them by extrapolating from figures that the firms do have to disclose. Most firms haven't set aside cash or stock for these IOUs. They are a drag on current earnings and when the executives depart, employers have to pay them out of corporate coffers. [Such] liabilities grew especially high in the financial industry, with its tradition of lavish pay. The liabilities are an essentially hidden obligation. Even when the debts to their executives total in the billions, most companies lump them into "other liabilities"; only a few then identify amounts attributable to deferred pay.
Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.
Attorney General Michael Mukasey has taken personal trips on government jets almost every weekend since he took office less than a year ago at a cost to taxpayers of more than $155,800, Justice Department and Federal Aviation Administration travel records show. Mukasey took so many trips to his home in New York on FAA, FBI or Drug Enforcement Administration planes that he was outside Washington a third or more of February, May, July, August and September. From November 2007 to September 2008, he traveled to New York 45 times, according to the records, which were released in late October in response to open records requests that McClatchy filed nine months ago. Mukasey traveled with his wife on 17 of the trips, and eight of them were with four or five other relatives. Mukasey reimbursed the government a total of $15,246 for all of his trips, based on round-trip coach fares, as he's required to do by government travel regulations. However, the cost of operating the Gulfstream G5s, Cessna Citations and de Havilland Dash 8-100s that Mukasey uses is tens of thousands of dollars more. For example, the attorney general reimbursed the Justice Department $128.80 for a round-trip ticket to New York. The actual cost to the government, according to the department: $4,021.32. Mukasey's personal trips appear to outpace those of other officials who are required to travel on government jets. During the same time period, Defense Secretary Robert Gates took fewer than six personal trips, and he also reimbursed the government at coach fares.
Note: For revealing reports on government corruption from major media sources, click here.
Changes to the climate due to human activity can now be detected on every continent, following a study showing that temperature rises in the Antarctic as well as the Arctic are the result of man-made emissions of greenhouse gases. It is the first time scientists have been able to prove the link between the temperature changes in both polar regions are down to human activity and it also undermines climate sceptics who believe the warming trend seen in the Arctic in recent decades is part of the climate's natural variability. The findings contradict the 2007 report of the Intergovernmental Panel on Climate Change, which said that Antarctica was the only continent where the human impact on the climate had not been observed. The new study shows that Antarctica has been caught up in the changes to the global climate over the past 60 years and that this warming cannot be attributed to natural variations. Using four computer models and data from dozens of weather stations sited around both the North and South poles, the study conclusively shows that humans are responsible for the significant increases in temperatures observed in the Arctic and the Antarctic over the past half century. "We're able for the first time to directly attribute warming in both the Arctic and the Antarctic to human influences on the climate," said Nathan Gillett of the Climate Research Unit at the University of East Anglia, who led the study, published in the journal Nature Geoscience.
Note: For many key reports from reliable sources on the reality of global warming, click here.
Under fire from Democrats and Republicans alike, the White House ... defended giving billions of bailout dollars to banks that plan to reward shareholders and executives -- or even buy other banks. Allowing banks to engage in such normal business activities actually could help loosen lending and revive the sagging economy, said Ed Lazear, chairman of the Council of Economic Advisers. He said the administration would not impose any conditions on banks beyond those required when Congress created the bailout program, which authorized the government to buy stock in financial institutions. Lazear was put before the cameras in the White House briefing room amid a rising chorus of complaints from lawmakers about the latitude that banks will have when they receive bailout money from Washington. That bailout was originally sold by the administration as a plan for the government to purchase toxic mortgage-based assets from financial institutions, to get them off their books and inspire the resumption of normal lending. After passage, though, the administration decided the better course would be to devote $250 billion into buying ownership stakes in banks. With taxpayers' money flowing into their vaults, banks are going ahead with paying dividends to shareholders, giving bonuses to top executives and acquiring competitors. Lawmakers are asking why banks with the money to do those things need taxpayer-funded help. The rescue legislation included some limits on executive compensation, considered weak by many. And while it does not allow institutions receiving the money to increase dividends, it does not prevent them from paying those dividends.
Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.
As the list of ailing companies seeking government help grows, it is anybody's guess where the Treasury Department's largesse will stop. The $700 billion bailout bill is so vague that virtually any U.S. company could be eligible for government help. While the capital infusions announced this month will be directed only to banks, Treasury spokeswoman Brookly McLaughlin confirmed that the law allows the department to create other rescue programs "open to a broader set of financial institutions." As the bill is written, "financial institutions" don't have to be banks or financial entities. In theory, any company could declare itself a financial institution and ask the Treasury Department to grant it temporary aid if its rescue is deemed "necessary to promote financial market stability." "Talk about the barn doors being left open - it's like they left off the walls and roof, too," said Bert Ely, an independent banking consultant. He suggested that under the bill, an airline could transfer future revenue streams into a subsidiary and ask the government to buy shares in that new "financial institution." Representatives of the auto, insurance and other industries are already seeking government help, indicating they think they qualify because of their financing units. Airlines and home builders are lobbying for government help to prop them up through the economic downturn - either under the bailout bill or some other legislation. And if insurance and auto lobbyists succeed in their efforts to tap the bailout money, experts said other industries will probably follow.
Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.
The hot-button issues of CEO pay and the Wall Street bailout may soon collide with the real world of Wall Street bonuses, taxpayer and shareholder anger over the financial crisis, and a Treasury secretary with deep roots on Wall Street. And that collision could be loud and ugly. Though what's commonly known as the Wall Street bailout package includes modest restrictions on CEO pay, it hardly prevents participating financial firms from paying bonuses to top executives and others. And in an environment of beaten-down stock prices, rising layoffs, recession and huge government bailouts, experts and legislators say big end-of-year bonuses will cause a firestorm of public outrage and likely provoke a Congressional backlash. "The corporate community doesn't seem to get it," says a seething Nell Minow, founder of the Corporate Library, which focuses on corporate governance issues. "If the corporate leaders don't come to the American people with some accountability, they are going to find themselves in a world of pain. Congress will set CEO pay." "People are going to be demanding that someone go to jail," say Rep. Peter DeFazio (D.-Ore), who says his constituents have applauded him for voting against the legislation. "It will require Democrats to revisit restrictions [on CEO pay]. " DeFazio says he would also recommend Congress "empower a division in the FBI and Justice Department to investigate the fraud and misdeeds that went on."
Note: For many revealing reports on the realities of the Wall Street bailout, click here.
The Food and Drug Administration ignored scientific evidence and used flawed methods when it determined that a chemical widely used in baby bottles and in the lining of cans is not harmful, a scientific advisory panel has found. In a highly critical report ... the panel of scientists from government and academia said the FDA did not take into consideration scores of studies that have linked bisphenol A (BPA) to prostate cancer, diabetes and other health problems in animals when it completed a draft risk assessment of the chemical last month. The panel said the FDA didn't use enough infant formula samples and didn't adequately account for variations among the samples. Taking those studies into consideration, the panel concluded, the FDA's margin of safety is "inadequate". The panel is part of the Science Board, a committee of advisers to the FDA commissioner, and was set up to review the FDA's risk assessment of BPA. Many of the studies that the panel said the FDA ignored were reviewed by the National Toxicology Program, which concluded in September that it had "some concern" that BPA can affect brain and behavioral development in infants and small children. Officials at FDA, which regulates the chemical's use in plastic food containers, bottles, tableware and the plastic linings of food cans, accepted some of the criticism in the report. "FDA agrees that due to the uncertainties raised in some studies relating to the potential effects of low doses of bisphenol-A that additional research would be valuable," said spokeswoman Judy Leon. The agency has commissioned new research on BPA.
Note: For many important reports on health issues from reliable sources, click here.
Congressional investigators yesterday demanded that the nation's nine largest banks prove they are not using an emergency infusion of $125 billion in taxpayer funds to lavish their executives with wealthy bonuses. "I question the appropriateness of depleting the capital that taxpayers just injected into the banks through the payment of billions of dollars in bonuses, especially after one of the financial industry's worst years on record," [Rep. Henry A. Waxman (D-Calif.), chairman of the House Committee on Oversight and Government Reform,] wrote in a letter to the banks. Lawmakers across the political spectrum want to ensure that the government's bailout program results in increased lending, not bigger paydays for executives. But a new study suggests that financiers are still bullish about their bonuses. More than two-thirds of Wall Street professionals are expecting a bonus this year, and 36 percent are anticipating a larger bonus than last year, according to a survey by eFinancialCareers, a career networking company. "Some experts have suggested that a significant percentage of this compensation could come in year-end bonuses and that the size of the bonuses will be significantly enhanced as a result of the infusion of taxpayer funds," Waxman said. In his letter to the banks, Waxman asked them to provide detailed data on compensation packages since 2006, as well as the projected salaries and bonuses for the rest of the year. The request was sent to Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, J.P. Morgan Chase, Merrill Lynch, Morgan Stanley, State Street, and Wells Fargo.
Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.
Gordon Brown and other European leaders are secretly preparing an unprecedented campaign to spread GM crops and foods in Britain and throughout the continent, confidential documents obtained by The Independent on Sunday reveal. The documents –- minutes of a series of private meetings of representatives of 27 governments –- disclose plans to "speed up" the introduction of the modified crops and foods and to "deal with" public resistance to them. The secret meetings were convened by Jose Manuel Barroso, the pro-GM President of the Commission, and chaired by his head of cabinet, Joao Vale de Almeida. The prime ministers of each of the EU's 27 member states were asked to nominate a special representative. Neither the membership of the group, nor its objectives, nor the outcomes of its meetings have been made public. But The IoS has obtained confidential documents, including an attendance list and the conclusions of the two meetings held so far – on 17 July and just two weeks ago on 10 October – written by the chairman. The list shows that President Nicolas Sarkozy of France and Chancellor Angela Merkel of Germany sent close aides. Britain was represented by Sonia Phippard, director for food and farming at the Department of Environment, Food and Rural Affairs. The conclusions reveal the discussions were mainly preoccupied with how to speed up the introduction of GM crops and food and how to persuade the public to accept them. The documents also make clear that Mr Barroso is going beyond mere exhortation by trying to get prime ministers to overrule their own agriculture and environment ministers in favour of GM.
Note: For an excellent summary of the many health risks posed by genetically modified foods, click here.
“Chase recently received $25 billion in federal funding. What effect will that have on the business side and will it change our strategic lending policy?” It was Oct. 17, just four days after JPMorgan Chase’s chief executive, Jamie Dimon, agreed to take a $25 billion capital injection courtesy of the United States government, when a JPMorgan employee asked that question [during] an employee-only conference call. The JPMorgan executive who was moderating the employee conference call didn’t hesitate to answer. “What we ... think it will help us do is perhaps be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling. I think there are going to be some great opportunities for us to grow in this environment, and I think we have an opportunity to use that $25 billion in that way.” Read that answer as many times as you want — you are not going to find a single word in there about making loans to help the American economy. On the contrary: It is starting to appear as if one of Treasury’s key rationales for the recapitalization program — namely, that it will cause banks to start lending again — is a fig leaf, Treasury’s version of the weapons of mass destruction. In fact, Treasury wants banks to acquire each other and is using its power to inject capital to force a new and wrenching round of bank consolidation. Treasury would even funnel some of the bailout money to help banks buy other banks. And, in an almost unnoticed move, it recently put in place a new tax break, worth billions to the banking industry, that has only one purpose: to encourage bank mergers. As a tax expert, Robert Willens, put it: “It couldn’t be clearer if they had taken out an ad.”
Note: Was the real purpose of the "bailout" to strengthen the biggest banks by enabling them to gobble up the smaller ones at the public's expense? No wonder the legislation was rushed through without discussion! For lots more highly revealing reports on the Wall Street bailout, click here.
The Treasury Department is dramatically expanding the scope of its bailout of the financial system with a plan to take ownership stakes in the nation's insurance companies, signaling new concerns about a sector of the economy whose troubles until now have been overshadowed by the banking industry, government and industry sources said. Insurers, including The Hartford, Prudential and MetLife, have pushed the Bush administration to include them in the plan. Many firms have taken losses from mortgage-related securities and other investments and are struggling to replenish their coffers. The new initiative underscores the growing range of problems that Treasury is scrambling to address with the $700 billion allocated by Congress this month. The shape of the plan has changed repeatedly since Treasury Secretary Henry M. Paulson Jr. introduced it last month as an effort to rescue banks by buying their troubled mortgage-related assets. That original mandate has now been pushed aside by a plan to take equity stakes in banks and insurance companies, and other businesses are lobbying to be included. The government has been forced to expand the plan partly because the federal guarantees previously given some institutions, such as banks, have put other companies and financial sectors at a disadvantage, making them less attractive to uneasy investors. The cost of saving the country's largest insurer continues to rise. Senior managers at troubled insurance giant American International Group warned the Federal Reserve yesterday that the company would probably need more taxpayer money than the $123 billion in rescue loans the government has provided.
Note: For lots more highly revealing reports on the Wall Street bailout, click here.
The Air Force is investigating a top official in the Guantánamo war crimes trials following complaints that he inappropriately sought to influence the prosecution of cases. Defense lawyers and human rights groups have accused Air Force Brig. Gen. Thomas Hartmann, who supervised the prosecution of enemy combatants at Guantánamo Bay until he was reassigned last month, of lacking neutrality and pushing for premature prosecutions to rally public support for the tribunals. Air Force Maj. David Frakt, a military defense lawyer who has represented several Guantánamo detainees, said the probe was launched after he and others alerted authorities about possible ethical violations by Hartmann. Frakt said that he informed his superiors in July of concerns regarding Hartmann's "unprofessional conduct" and "lack of candor," and that the investigation could result in professional sanctions and might give some detainees grounds to challenge actions that Hartmann took in cases against them. Hartmann was removed as legal adviser for the Guantánamo trials in September. He continues to oversee the tribunals in his new post, but is not directly involved with prosecutors. Military judges have already barred him from participating in three Guantánamo trials, saying he lacked impartiality and aligned himself too closely with prosecutors. The investigation is proof that serious questions remain about the tribunals' fairness, said Jennifer Daskal, a lawyer for Human Rights Watch, which has lobbied on behalf of the detainees. "The Department of Defense has absolutely refused to clean house."
Note: For many disturbing reports on threats to civil liberties from major media sources, click here.
Despite the Wall Street meltdown, the nation's biggest banks are preparing to pay their workers as much as last year or more, including bonuses tied to personal and company performance. So far this year, nine of the largest U.S. banks, including some that have cut thousands of jobs, have seen total costs for salaries, benefits and bonuses grow by an average of 3 percent from a year ago, according to an Associated Press review. "Taxpayers have lost their life savings, and now they are being asked to bail out corporations," New York Attorney General Andrew Cuomo said of the AP findings. "It's adding insult to injury to continue to pay outsized bonuses and exorbitant compensation." That there is a rise in pay, or at least not a pronounced dropoff, from 2007 is surprising because many of the same companies were doing some of their best business ever, at least in the first half of last year. In 2008, each quarter has been weaker than the last. "There are, of course, expectations that the payouts should be going down," David Schmidt, a senior compensation consultant at James F. Reda & Associates. "But we haven't seen that show up yet." Some banks are setting aside large amounts. At Citigroup, which has cut 23,000 jobs this year amid the crisis, pay expenses for the first nine months of this year came to $25.9 billion, 4 percent more than the same period last year. Typically, about 60 percent of Wall Street pay goes to salary and benefits, while about 40 percent goes to end-of-the-year cash and stock bonuses that hinge on performance, both for the individual and the company.
Note: For lots more on the Wall Street bailout, click here.
Executives and employees at the major credit ratings agencies were often aware of problems in the AAA grades awarded to thousands of mortgage-related securities whose downgrades helped plunge the nation into a financial meltdown. The companies — Standard & Poor, Moody’s and Fitch, Inc. — made enormous profits as they evaluated a ballooning number of mortgage-backed bonds, many of which were given top marks as long as housing prices went up. “The story of the credit rating agencies is a story of colossal failure,” said Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee. The California Democrat said, “Millions of investors rely on them for independent, objective assessments. The rating agencies broke this bond of trust, and federal regulators ignored the warning signs and did nothing to protect the public. The result is that our entire financial system is now at risk.” The companies are important because their high assessments assured investors that their money should be safe. The inflated ratings awarded to securities backed up by subprime loans led investors to buy them in enormous numbers. But now, most of these securities have been downgraded and the market for them has largely evaporated, contributing to the current crisis. The panel also heard former ratings agency executives say there’s an inherent conflict of interest in the industry because they’re paid by bond issuers instead of investors who trust their ratings to make smart investments.
Note: For many reports on corporate corruption from reliable sources, click here.
Voting rolls, which are maintained by local election officials, are one of the weakest links in American democracy and problems are growing. Republicans have been pressing for sweeping voter purges in many states. They have also fought to make it harder to enroll new voters. Voting experts say there could be serious problems at the polls on Nov. 4. A number of states — including the battleground state of Florida — have adopted no match, no vote rules. Voters can be removed from the rolls if their names do not match a second list, such as a Social Security or driver’s license database. But (like the U.S. mail) lists of this kind are notoriously mistake-filled, and one typo can cause a no match. In Ohio, Republicans recently sued the secretary of state, demanding that she provide local officials with a dubious match list. As many as 200,000 new voters could have been blocked from casting ballots. The Supreme Court rejected the suit, but Republicans are still looking for ways to use the list on Election Day. For this election, voters need to be prepared to fight for their right to cast a ballot. They should try to confirm before Nov. 4 that they are on the rolls — something that in many states can be done on a secretary of state or board of elections Web site. If their state permits it, they should vote early. If voters find on Election Day that their names are not on the rolls, they should contact a voters’ rights group like Election Protection, at 1-866-OUR-VOTE.
Note: A recent report in Rolling Stone by Robert F. Kennedy Jr. and Greg Palast details many of these tactics to eliminate voters from the rolls. To watch a related video by Greg Palast click here. For many disturbing reports from major media sources on threats to free and fair elections in the US, click here. And for a powerful, five-minute video showing both the ways your vote can disappear and what you can do about it, click here.
Nat Rothschild, the financier at the centre of allegations that threaten to engulf the shadow Chancellor, George Osborne, is no stranger to laws which forbid politicians from accepting donations from abroad. Political donations from overseas are also illegal in the US, where John McCain's campaign team is under investigation for allegedly accepting a benefit in kind from two mega-rich British citizens, namely Nat Rothschild and his father, Jacob, the Fourth Baron Rothschild. In April, Mr McCain passed through London and spoke at a fund-raising dinner for expatriate Americans, where seats at the cheapest tables cost Ł500 a head. What caught the eye of Judicial Watch, a Washington-based foundation dedicated to combating corruption, was that the event was held "by kind permission of Lord Rothschild and Hon Nathaniel Rothschild" at the family home in Spencer House, St James's, the only privately owned 17th-century palace in central London. The Rothschild family and politics have been intertwined for generations, ever since Nathan Rothschild, who founded the English branch of the family business, financed Britain's war against Napoleon two centuries ago. Serena Rothschild, Nat Rothschild's mother, was one of the largest individual donors to the Conservative Party last year. She gave Ł190,000. She has also helped fund Mr Osborne's office. When another member of the clan, Sir Evelyn de Rothschild, married the New York businesswoman Lynn Forester, they spent the night of their wedding dinner in the White House as guests of Bill Clinton. Lady Rothschild was a fund-raiser for the Democrats. So it is nothing new for a Rothschild to be mixing with prominent politicians.
Note: For more on secrecy in high places, see the deeply revealing reports from reliable major media sources available here.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.