Sunday, January 22, 2012
Answering for Gaddafi brutal murder: His daughter's lawyer and From shelling to selling: Rolling up for Libyan profits
While Libya has been quick to shake off 40 years of Colonel Muammar Gaddafi's legacy, his children are still waiting for justice. The lawyer of the late leader's daughter has been telling RT why his brutal live murder in October still hasn't been investigated.
French President Nicolas Sarkozy is once again setting himself up to look like a fool, this time over his pledge to implement a tax on all financial transactions, popularly referred to as the "Tobin Tax". Just days after pledging to proceed with a tax on all financial transaction tax in France if the rest of the Europe would not go along, he walked away from the "Tobin Tax" idea completely after receiving pressure from French banks.
Submitted by Tyler Durden: Yesterday, Reuters' blogger Felix Salmon in a well-written if somewhat verbose essay, makes the argument that "Greece has the upper hand" in its ongoing negotiations with the ad hoc and official group of creditors. It would be a great analysis if it wasn't for one minor detail. It is wrong. And while that in itself is hardly newsworthy, the fact that, as usual, its conclusion is built upon others' primary research and analysis, including that of the Wall Street Journal, merely reinforces the fact that there is little understanding in the mainstream media of what is actually going on behind the scenes in the Greek negotiations, and thus a comprehension of how prepack (for now) bankruptcy processes operate. Furthermore, since the Greek "case study" will have dramatic implications for not only other instances of sovereign default, many of which are already lining up especially in Europe, but for the sovereign bond market in general, this may be a good time to explain why not only does Greece not have the upper hand, but why an adverse outcome from the 11th hour discussions between the IIF, the ad hoc creditors, Greece, and the Troika, would have monumental consequences for the entire bond market in general.