World View: EU Imposes Sanctions on Israel for West Bank Settlements
This morning's key headlines from GenerationalDynamics.com
- Greece on strike amid plans to cut 25,000 civil service jobs
- Wall Street professional survey reveals widespread misconduct
- EU imposes sanctions on Israel for West Bank settlements
Greece on strike amid plans to cut 25,000 civil service jobs
Anguished Athens protester (Kathimerini)
Thousands of private sector employees joined civil service workers in
a 24-hour strike across Greece under the slogan, "General Strike - We
are people, not numbers." Greece is being required to cut thousands
of employees from civil service payrolls, if they're to continue to
receive bailout payments from Europe and the International Monetary
Fund. 12,500 public workers are to be placed in a so-called "mobility
pool" by September this year, giving them eight months to find work in
another department or lose their jobs, despite the fact that the Greek
unemployment rate stands at nearly 27 percent, which is double the EU
average. Greece’s two-party governing coalition faces a stern test on
Wednesday night, when MPs will vote on more than 100 articles
contained in a multi-bill of reforms that paves the way for sackings
and job transfers in the civil service. Kathimerini (Athens) and Deutsche Welle
Wall Street professional survey reveals widespread misconduct
According to a survey of 250 industry insiders from financial services
firms, 23% reported that they had observed or had first-hand knowledge
of wrongdoing in the workplace, 28% felt the industry does not put the
interests of clients first and 24% admitted they would engage in
insider trading if they could get away with it.
"Surprisingly," according to the survey, younger professionals on Wall
Street were significantly more likely to be aware, accept and engage
in illegal or unethical conduct than their more senior colleagues.
Among people with less than 10 years experience, 38% said they
would commit insider trading for $10 million if they wouldn't be
So here you see confirmation of several major issues that I've been
writing about for years.
First, Wall Street, like Washington, has a huge population of
people who have no ethical or moral standards whatsoever.
Second, young people -- that is, Generation-X, are substantially more
lacking in ethics and morals than older people.
Let's review briefly: Generation-X grew up at a time when feminists
were telling mothers to dump their husbands, and then go to court and
lie about domestic violence, in order to get as much money as
possible. These children grew up without fathers, except for a stream
of men in their mothers' beds, some of whom would beat or abuse them.
They would have loved to have their real fathers in their lives, but
they knew that their mothers were lying, and they saw how their
mothers lied to the divorce court and got away with it. They said to
themselves, "Hey, I can do that too!" And they grew up, went into the
financial services industry, and created tens of trillions of dollars
in fraudulent subprime mortgage backed securities, and then sold them
to older investors, the same men who had been in their mothers' beds
when they were children.
Now we have a survey that says that 38% of them are lacking in morals
and ethics, and that's not the least bit surprising. And, as I keep
pointing out, the same people are in the same jobs, still looking for
new ways to defraud people.
The third point is that they would commit these crimes "if they
wouldn't be caught," and that's exactly the situation. None of these
criminals who caused the financial crisis have been prosecuted and
sent to jail, and the young people in the survey are well aware of
this. They know that they can defraud anyone they want, just like
their mothers did, make a ton of money, laugh at the suckers they've
defrauded, and get away with it.
And why are they not being investigated and prosecuted by the Obama
justice department? Because they've used a fraction of the money they
obtained through fraud, and donated it to Obama as campaign
contributions, and Obama is returning the favor.
According to Jordan Thomas of Labaton Sucharow, which funded the
"Many in the financial services industry appear to
have lost their moral compass, and younger professionals pose the
greatest threat to investors. Wall Street needs to take the first
step toward recovery and admit that it has a corporate ethics
problem, or Main Street should brace itself for more
Well, Wall Street is not going to admit anything, and neither are any
Washington politicians. (As an aside, no one has even been fired
among the IRS employees who used taxpayer information to target
political enemies and, for all we know, personal enemies as well.)
Let's hope that there are more scandals, and it would very nice to see
some of these criminals on Wall Street and in Washington go to jail.
Labaton Sucharow and NY Times
EU imposes sanctions on Israel for West Bank settlements
A furious Israeli prime minister Benjamin Netanyahu on Tuesday angrily
rejected European Union sanctions imposed because of West Bank
settlements. The sanctions will bar any EU funding projects for
Israel in the West Bank. The guidelines require that in all signed
agreements with Brussels a clear distinction be made between Israel
and the territories it occupied in the 1967 Six-Day war -- the Golan
Heights, the Gaza Strip and the West Bank including mainly-Arab east
Jerusalem. The aspect which has most angered Israel is the
"territorial eligibility" clause which means that from 2014, only
territories within the 1967 borders will be considered eligible for EU
According to Netanyahu's statement:
"We shall not accept any external dictates on our
borders. That is an issue that will be decided only in direct
negotiations between the sides. ...
I would expect those who concern themselves with peace and
stability in the region to only debate such an issue after
resolving problems which are slightly more urgent, such as the
Syrian civil war or Iran's race to obtain nuclear
However, Israeli settlements in the West Bank, including annexed east
Jerusalem, are viewed as illegal under international law. According
to Sweden's foreign minister: "It should not come as a surprise that
the EU supports international law in Middle East peace efforts."
AFP and Jerusalem Post
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