United Nations Declaration (Articles 1 - 30):

Article 1: All human beings are born free and equal in dignity and rights. They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood.

Article 2: Everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, colour, sex, language, religion, political or other opinion, national or social origin, property, birth or other status.

Incoming UN chief names three women to top posts

Incoming UN chief names three women to top posts
Nigerian Minister of the Environment Amina Mohammed, seen in 2015, will be the UN's number two official (AFP Photo/Mireya ACIERTO)
Sustainable Development
"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) -
"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013. They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)


The Declaration of Human Freedom

Archangel Michael (Via Steve Beckow), Feb. 19, 2011

Every being is a divine and eternal soul living in a temporal body. Every being was alive before birth and will live after death.

Every soul enters into physical life for the purpose of experience and education, that it may, in the course of many lifetimes, learn its true identity as a fragment of the Divine.

Life itself is a constant process of spiritual evolution and unfoldment, based on free choice, that continues until such time as we realize our true nature and return to the Divine from which we came.

No soul enters life to serve another, except by choice, but to serve its own purpose and that of the Divine from which it came.

All life is governed by natural and universal laws which precede and outweigh the laws of humanity. These laws, such as the law of karma, the law of attraction, and the law of free will, are decreed by God to order existence and assist each person to achieve life’s purpose.

No government can or should survive that derives its existence from the enforced submission of its people or that denies its people their basic rights and freedoms.

Life is a movement from one existence to another, in varied venues throughout the universe and in other universes and dimensions of existence. We are not alone in the universe but share it with other civilizations, most of them peace-loving, many of whom are more advanced than we are, some of whom can be seen with our eyes and some of whom cannot.

The evidence of our five senses is not the final arbiter of existence. Humans are spiritual as well as physical entities and the spiritual side of life transcends the physical. God is a Spirit and the final touchstone of God’s Truth is not physical but spiritual. The Truth is to be found within.

God is one and, because of this, souls are one. They form a unity. They are meant to live in peace and harmony together in a “common unity” or community. The use of force to settle affairs runs contrary to natural law. Every person should have the right to conduct his or her own affairs without force, as long as his or her choices do not harm another.

No person shall be forced into marriage against his or her will. No woman shall be forced to bear or not bear children, against her will. No person shall be forced to hold or not hold views or worship in a manner contrary to his or her choice. Nothing vital to existence shall be withheld from another if it is within the community’s power to give.

Every person shall retain the ability to think, speak, and act as they choose, as long as they not harm another. Every person has the right to choose, study and practice the education and career of their choice without interference, provided they not harm another.

No one has the right to kill another. No one has the right to steal from another. No one has the right to force himself or herself upon another in any way.

Any government that harms its citizens, deprives them of their property or rights without their consent, or makes offensive war upon its neighbors, no matter how it misrepresents the situation, has lost its legitimacy. No government may govern without the consent of its people. All governments are tasked with seeing to the wellbeing of their citizens. Any government which forces its citizens to see to its own wellbeing without attending to theirs has lost its legitimacy.

Men and women are meant to live fulfilling lives, free of want, wherever they wish and under the conditions they desire, providing their choices do not harm another and are humanly attainable.

Children are meant to live lives under the beneficent protection of all, free of exploitation, with unhindered access to the necessities of life, education, and health care.

All forms of exploitation, oppression, and persecution run counter to universal and natural law. All disagreements are meant to be resolved amicably.

Any human law that runs counter to natural and universal law is invalid and should not survive. The enactment or enforcement of human law that runs counter to natural and universal law brings consequences that cannot be escaped, in this life or another. While one may escape temporal justice, one does not escape divine justice.

All outcomes are to the greater glory of God and to God do we look for the fulfillment of our needs and for love, peace, and wisdom. So let it be. Aum/Amen.



Pope Francis arrives for historic first US visit

Pope Francis arrives for historic first US visit
Pope Francis laughs alongside US President Barack Obama upon arrival at Andrews Air Force Base in Maryland, on September 22, 2015, on the start of a 3-day trip to Washington (AFP Photo/Saul Loeb)


Today's doodle in the U.S. celebrates Martin Luther King, Jr.'s "I have a dream" speech on its 50th anniversary (28 Aug 2013)

'Love is love': Obama lauds gay marriage activists in hailing 'a victory for America'

'Love is love': Obama lauds gay marriage activists in hailing 'a victory for America'
The White House released this image, of the building colored like the rainbow flag, on Facebook following the supreme court’s ruling. Photograph: Facebook

Same-sex marriage around the world

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …

Merkel says Turkey media crackdown 'highly alarming'

Merkel says Turkey media crackdown 'highly alarming'
Reporters Without Borders labels Erdogan as 'enemy of press freedom'

Search This Blog

Thursday, May 5, 2011

Goldman lobbying hard to weaken Volcker rule

Reuters, by Lauren Tara LaCapra, NEW YORK | Wed May 4, 2011

CEO of Goldman Sachs Lloyd C. Blankfein listens to U.S. President Barack Obama
speak at the annual meeting of the Business Council at the Park Hyatt Hotel
in Washington, May 4, 2010. (
Credit: Reuters/Larry Downing)

(Reuters) - Goldman Sachs Group Inc has just a few more months to put its stamp on the Volcker rule, and it is not wasting any time.

The rule, designed to limit banks from speculating with their own money, will cost Goldman at least $3.7 billion in annual revenue, by one estimate. And billions more could be at stake if regulations now being drawn up are extra-tough.

The Volcker rule was one of the main topics on the agenda when Chief Executive Lloyd Blankfein met recently with U.S. Securities and Exchange Commission Chairman Mary Schapiro.

Wall Street chiefs do not often lobby top regulators directly, but this issue is unusually important to Goldman.

"They're totally freaked out about Volcker," said a Goldman lobbyist who declined to speak on the record for fear of losing the contract. "People are working on that a lot, with agency staff, with lawmakers, you name it."

Indeed, lobbying disclosures show Goldman representatives have been working both sides of the political aisle and meeting with top officials in the White House and regulatory agencies.

One big area of concern for Goldman is that regulators who are interpreting the Volcker rule will severely limit the amount of time a bank can hold a security or derivative. Positions held long term can be backstairs bets on markets.

The Volcker rule is not the only element of financial reform that Goldman is resisting. Important issues on its lobbying docket also include derivatives reform, capital requirements and bonus restrictions.

Other bank heads, including Morgan Stanley's James Gorman, have met Schapiro about the Volcker rule. But the provision is most important for Goldman, whose business is far more weighted toward trading, three lobbying sources said.

ALL STAR TEAM

Goldman has hired an all-star team of lobbyists and former government officials, leveraging powerful connections to get its message across to regulatory and political leaders.

"Before the crisis, Goldman was basically non-existent in Washington," said a former Congressional staffer who now works as a policy analyst at a Wall Street bank. "Post-crisis, Goldman is everywhere."

Under last year's Dodd-Frank law, regulators have until July to come up with specific rules for implementing the Volcker provision, meaning banks have limited time to try to shape the regulations.

Adding to the complexity of lobbying efforts is the number of parties involved.

The SEC and four other regulators are in the process of writing separate versions of the Volcker rule, which must then be reconciled and shaped into a single set of regulations.

"Volcker is the subject of a very quiet, closed-door battle right now, not just between us and Wall Street, but among the agencies as well," said Bart Naylor, who has lobbied regulators for consumer-rights coalition Americans for Financial Reform.

Goldman Sachs spokesman Stephen Cohen declined to comment.

The impending changes have already spurred Goldman to dismantle much of its "proprietary trading" operations, which trade for the bank's own account.

These operations were some of the bank's most profitable, and their closure will erase about $3.7 billion in revenue and $1.5 billion in profit annually, according to an estimate by JPMorgan Cazenove analyst Kian Abouhossein.

By Abouhossein's reckoning, the bank gets another $17 billion of revenue from "market making," or linking up buyers and sellers across global markets. That revenue could also be squeezed, depending how stringent the regulations are.

Those figures represent about 65 percent of Goldman's annual revenue, according to Abouhossein's estimates.

Lawmakers say the Volcker rule will ensure that big banks are not gambling in markets, and that taxpayers will not be left on the hook when their bets backfire.

Implementing the Volcker rule will be tricky, though. When a bank buys a security from a client, it is difficult for a regulator to determine whether the bank is serving the client or betting on the market itself.

Limiting holding periods could be a simple way to ensure that banks are not making secret bets under the guise of helping clients.

GOING LONG

Goldman argues that holding on to securities for a long period of time can be a crucial part of trading on behalf of customers because assets trade infrequently in some markets.

A substantial amount of the securities that Goldman trades seems to fall into the longer-term category. In a February presentation, Goldman said it held about a third of the securities and listed derivatives on its trading books for three months or more, and 8 percent for more than a year.

The bank did not disclose how long it holds unlisted derivatives positions, where it also has significant exposure.

Goldman is also advocating that regulators exclude currency contracts from the Volcker rule, in addition to Treasury bills and interest-rate swaps, which were excluded in the law.

"They definitely don't want their entire book to be micro-managed by the SEC," said a regulatory consultant who once worked at Goldman and is familiar with its lobbying efforts. "They want as much -- I wouldn't say self-policing -- but as much flexibility as possible."

In the years following the crisis, Washington has been reshaping the financial industry in an effort to prevent another collapse. Goldman has in turn been trying to shape the legislative and regulatory process.

The intensity of its efforts is evident in at least one concrete way: the amount of money it is spending on lobbying.

That figure totaled $1.32 million in the first quarter of 2011. That's 15 percent higher than the same period a year ago, putting the bank on course to break its annual record for lobbying expenditure of $4.61 million, set in 2010.

"They're a big and powerful company with a lot riding on financial reform," said Dave Levinthal, editor of OpenSecrets.org, which tracks lobbying and campaign spending.

"When monumental legislation like Wall Street reform gets passed, it's not only about the legislation when it's coursing through Congress, but how it's being implemented."

For Wall Street, where a bank can earn billions of dollars a year, a $5 million lobbying budget may seem paltry.

But in Washington it's a lot of money. And relative to revenue, Goldman's spending is exponentially higher than that of its competitors.

The bank has hired an all-star stable of Washington lobbying heavyweights.

Michael Paese, former deputy staff director for the U.S. House Financial Services Committee, heads its internal lobbying group. His team includes former staffers from the U.S. Senate Banking Committee, the White House and regulatory agencies.

Outside of its own payroll, Goldman also has several high-profile legislative veterans working on its behalf in Washington, hailing from both sides of the political aisle. Among them are former Republican lawmakers Trent Lott and John Breaux and former Democratic House Majority Leader Dick Gephardt.

It is common for large companies to seek influence in government, but old hands in Washington say Goldman stands out both in its wide network of high-level contacts and its ability to leverage those relationships to its advantage.

"The individuals at Goldman have been incredibly powerful over time," says Hillary Sale, a law professor at Washington University in St. Louis who specializes in Wall Street regulation. "When you're a consumer, it gives you the creeps thinking about that kind of influence over regulation. But from the bank's side, it's a perfectly smart strategy."

(Editing by Dan Wilchins and Ted Kerr)

Related Articles:

No comments: