Captain Brekka Williams stood on the rocky promontory with her IR visor on and mumbled to herself; “This doesn’t match the maps?!”
After thinking for a little while longer it came to her; “Idiot. We’re three billion years in the past!”
With her ‘visor still activated, she turned her head back over her shoulder and watched the train of infantry and equipment that was leaving the shimmer of the ‘Gate, over five klicks away.
The ‘train’ of course was the Bug-Out from the Mars Base which was underneath the Arsia Mons mountains.
Rumor had it that an object with unknown powers and intention was approaching Mars and that even the ‘Children’ were afraid of it.
And they tried to destroy it, only to lose their own craft.
Which was why she was leading the AIMD unit that belonged to CWO5 Lamont. He was on a mission to intercept the object to acertain a solution to it.
Nobody’s heard from the mission in three weeks.
And the object is still coming.
Brekka didn’t mind leading Lamont’s old command though, she needed a break from all the political infighting at the MSG Headquarters. As the third in command (she is a major-selectee), the shit rolled down hill to her when it came to attending staff meetings and other unsavory events like Plan of the Day.
A chance for field command was a nice break.
It looked good on her fitness report.
Plus she heard the position might become permanent if Lamont’s mission failed.
She decided to descend the small hill, watching her steps because of the small rocks covering its entirety. Even in the lower gravity one could turn an ankle easy enough.
When she reached the bottom, she extended the vision of the ‘visor out to ten klicks to get a better feel of the ‘terrain.’ In the distance she could see a shimmer of blue above the horizon. It can only mean one thing.
Who needs the Constellation Program when we already possess the technology to go to Mars and build underground cities and bases there?
According to Andrew D. Basiago, we (meaning the US) have jump-gate and time travel capability that was stolen from Nicola Tesla before he died in 1946.
Interesting interview on Red Ice Creations.
The military implications of UFO activity has silently been a concern to the national security alphabet soup agencies and the military for over 60 some-odd years, although publicly denied.
Now there is going to be a college lecture on the subject in Wilmington, North Carolina:
At a nuclear missile launch site in North Dakota, a guard spots a mysterious bright light hovering over the location of each rocket silo.
Below ground, officers on duty notice their missiles start to activate one by one.
In the launch capsule, an officer orders emergency procedures when he sees every bomb targeted by the intruder prepare to fire.
UFO researcher Robert Hastings has recorded this and other testimony from retired U.S. military personnel who worked at nuclear facilities over the past four decades. He says there’s a pattern of UFOs targeting nuclear launch sites not just in the United States, but around the world.
“One might interpret that as these beings attempting to send a warning to us humans that we are playing with fire,” Hastings said. “Alternatively, it could be that these beings are planning to invade Earth and don’t want to inhabit a radioactive wasteland.”
A retired laboratory analyst and lifelong UFO investigator, Hastings will give a free lecture and slideshow in the Burney Center at the University of North Carolina Wilmington at 7 p.m. today Hastings says his findings confirm beyond a reasonable doubt the existence of UFOs and their concern to top-level military and intelligence officials.
“I’m trying to get this message out to the public to let people know that this is not science fiction, this is not Hollywood, this is not the funny pages – this is absolutely real,” Hastings said.
In more than 30 years of research on UFO sightings, Hastings has collected testimony from 120 veterans, and reviewed thousands of de-classified Air Force, FBI and CIA documents. He has appeared on CNN’s Larry King Live, spoken at more than 500 colleges and published a book on his findings last year. His presentation at UNCW is part of the campus’ ACE Voice program, a series of speakers invited to bring fresh perspectives to campus.
Decades of research was kindled by a mysterious sighting one night during Hastings’ high school job as a janitor at an Air Force base in Montana in 1967. As Hastings cleaned the radar room, an officer on duty told him they were monitoring UFOs in the area, and showed him five hovering objects on the radar screen. Within minutes, the officer grew tense and ordered Hastings out of the room. Later, the officer refused to discuss what had happened. With that, a lifelong quest was born.
Hastings’ focus is on collecting firsthand accounts from military veterans of UFO sightings and activity during their service time. He conducts careful research to confirm each source’s background, and corroborates each account with other eyewitness descriptions and de-classified government documents.
Hastings believes the government’s knowledge of UFOs is kept quiet out of fear of public panic if the information was released.
Over the years, Hastings says he has seen half a dozen UFOs with his own eyes, including a set of bright lights hovering over radio and TV towers in Albequerque that covered eight miles in three seconds. Though Hastings emphasizes that he is only speculating, he believes that at least one race of alien visitors has been monitoring Earth for a long time.
“I think we’re slowly as a race being acquainted with their reality and presence here, and at some point they’re going to leave no doubt in anyone’s mind that that’s what’s going on,” Hastings said.
Hastings has also been on the Paracast about this subject too.
My belief is that the military doesn’t do anything because it can’t do anything about it!
NASA is trying to launch the ARES 1-X test rocket again today: http://www.nasa.gov/multimedia/nasatv/index.html
The window is open from 8 a.m. to 12 p.m. like yesterday.
Update: ARES 1-X launched at 11:30 a.m.
As far as I know, the mission profile was accomplished.
Remember H.G. Wells’ 1964 movie about insect-men in the Moon called “The First Men in the Moon?” (It was based on his 1901 novel).
The ‘Selenite’ (name for moon-people) civilization existed in vast underground (under-regolith?) caverns and tunnels. Their civilization was powered by an immense perpetual motion machine and the air was made by water (they mined the surface for it) being broke down into its basic parts; hydrogen and oxygen.
Well, according to New Scientist, a ‘skylight’ that might possibly lead to a vast tunnel system has been discovered on the Moon’s surface:
A deep hole on the moon that could open into a vast underground tunnel has been found for the first time. The discovery strengthens evidence for subsurface, lava-carved channels that could shield future human colonists from space radiation and other hazards.
The moon seems to possess long, winding tunnels called lava tubes that are similar to structures seen on Earth. They are created when the top of a stream of molten rock solidifies and the lava inside drains away, leaving a hollow tube of rock.
Their existence on the moon is hinted at based on observations of sinuous rilles – long, winding depressions carved into the lunar surface by the flow of lava. Some sections of the rilles have collapsed, suggesting that hollow lava tubes hide beneath at least some of the rilles.
But until now, no one has found an opening into what appears to be an intact tube. “There’s sort of a chicken-and-egg problem,” says Carolyn van der Bogert of the University of Münster in Germany. “If it’s intact, you can’t see it.”
Finding a hole in a rille could suggest that an intact tube lies beneath. So a group led by Junichi Haruyama of the Japanese Aerospace Exploration Agency searched for these “skylights” in images taken by Japan’s Kaguya spacecraft, which orbited the moon for almost two years before ending its mission in June.
The team found the first candidate skylight in a volcanic area on the moon’s near side called Marius Hills. “This is the first time that anybody’s actually identified a skylight in a possible lava tube” on the moon, van der Bogert, who helped analyse the feature, told New Scientist.
The hole measures 65 metres across, and based on images taken at a variety of sun angles, the the hole is thought to extend down at least 80 metres. It sits in the middle of a rille, suggesting the hole leads into a lava tube as wide as 370 metres across.
It is not clear exactly how the hole formed. A meteorite impact, moonquakes, or pressure created by gravitational tugs from the Earth could be to blame. Alternatively, part of the lava tube’s ceiling could have been pulled off as lava in the tube drained away billions of years ago.
Finding such an opening could be a boon for possible human exploration of the moon (see What NASA’s return to the moon may look like).
Since the tubes may be hundreds of metres wide, they could provide plenty of space for an underground lunar outpost. The tubes’ ceilings could protect astronauts from space radiation, meteoroid impacts and wild temperature fluctuations (see Can high-tech cavemen live on the moon?).
“I think it’s really exciting,” says Penny Boston of the New Mexico Institute of Mining and Technology in Socorro. “Basalt is an extremely good material for radiation protection. It’s free real estate ready to be exploited and modified for human use.”
This is most providential. First, the discovery of hydroxyl and water molecules covering most of the Moon’s surface, although only at a depth of a few centimeters (LCROSS crash “cloud” not withstanding), and now possible living spaces under the regolith.
It makes you wonder about all those ‘mysteries’ about the Moon, eh?
Author commenting about a deceased author:
There’s this guy I almost knew, Mac Tonnies. A fan of my books, a writer of his own (I never read After the Martian Apocalypse, his book about the “Face on Mars”, but I read some of his short fiction), and a paradoxical amalgam of UFO buff and skeptic: someone who embraced the phenomenon while rejecting the usual extraterrestrial interpretations. He was more of a those-among-us type; I understand there’s a completed book in the wings that leans heavily towards the Cryptoterrestrial model (much of his interest in my own stuff hailed from his interest in alternate types of consciousness). Mac seemed to regard his place on the fringe with wry humor, and the habitat itself with tonnes of salt. He didn’t let any of that cramp his propensity for wild speculation. I never really knew whether he was a flake or not; I’m no expert on UFOs. But I checked the rss feed for Post-Human Blues pretty much daily, with a mixture of eagerness and trepidation: eagerness because the dude always had a shitload of cool links to cutting-edge nuggets ranging from robotics to psychoactives, and trepidation because the fucker posted so many links that I could have easily spent a couple of hours every day just following the rabbit-holes planted on Mac Tonnies’s blog. I never met the man face to face: we came within a couple of provinces of each other when he was up in Halifax a while back, but there was never really any rush because we were bound to end up at the same con at the same time at some point. I run into all of you paranormal types eventually.
Except I won’t be running in Mac Tonnies, because he’s dead. Last Thursday, in his apartment, “natural causes”.
Watts elucidates as only Watts can.
The guy’s great!
So was Mac.
ARES 1-X launch on NASA TV.
ARES 1-X is the test vehicle for the actual ARES 1 rocket that might carry humans to the ISS or beyond Earth orbit by 2017 or 2018 depending on what Mr. Obama decides at the end of the year.
Update: Launch scrubbed at 11:24 a.m. due to weather
Just when NASA is struggling to get funds for its future LEO and Moon missions, the military of course has no issue what-so-ever for funding:
You would think that an unpiloted space plane built to rocket spaceward from Florida atop an Atlas booster, circle the planet for an extended time, then land on autopilot on a California runway would be big news. But for the U.S. Air Force X-37B project — seemingly, mum’s the word.
There is an air of vagueness regarding next year’s Atlas Evolved Expendable launch of the unpiloted, reusable military space plane. The X-37B will be cocooned within the Atlas rocket’s launch shroud — a ride that’s far from cheap.
While the launch range approval is still forthcoming, SPACE.com has learned that the U.S. Air Force has the X-37B manifested for an April 2010 liftoff.
As a mini-space plane, this Boeing Phantom Works craft has been under development for years. Several agencies have been involved in the effort, NASA as well as the Defense Advanced Research Projects Agency (DARPA) and various arms of the U.S. Air Force.
Over the last few months, I’ve been in touch with DARPA, Boeing, the Pentagon, the U.S. Air Force Space Command, as well as NASA itself. Either you get a “not in our portfolio” or are given a “go to” pass to another agency. Just a few weeks ago, I even commandeered a face-to-face “no comment” from a top Pentagon official for Air Force space programs about X-37B.
The tight-lipped factor surrounding the space plane, its mission, and who is in charge is curious. Such a hush-hush factor seems to mimic in pattern that mystery communications spacecraft lofted last month aboard an Atlas 5 rocket, simply called PAN. Its assignment and what agency owns it remains undisclosed.
But in a brief burst of light eking from the new era of government transparency, I did score this comment from NASA.
While the program is now under the U.S. Air Force, NASA is looking forward to receiving data from the advanced technology work.
“NASA has a long history of involvement with the X-37 program. We continue to monitor and share information on technology developments,” said Gary Wentz, chief engineer Science and Missions Systems Office at the NASA Marshall Space Flight Center. “We are looking forward to a successful first flight and to receiving data from some advanced technologies of interest to us, such as thermal protection systems, guidance, navigation and control, and materials for autonomous re-entry and landing.”
The vehicle itself is about 29 feet long with a roughly 15-foot wingspan and weighs in at over five tons at liftoff. Speeding down from space, the craft would likely make use of Runway 12/30 — 15,000 feet long by 200 feet wide — at Vandenberg Air Force Base in California.
Vandenberg serves as an emergency space shuttle landing strip, as a second backup after California’s Edwards Air Force Base – which has also been noted as a landing spot for the X-37B.
Once in orbit, what such a vehicle might enable depends on the eye of the beholder. Intelligence gathering, kicking off small satellites, testing space gear are feasible duties, as is developing reusable space vehicle technologies.
Space test platform
Just last month, a U.S. Air Force fact sheet noted that the Air Force Rapid Capabilities Office (RCO), located in Washington, D.C. “is working on the X-37B Orbital Test Vehicle to demonstrate a reliable, reusable, unmanned space test platform for the United States Air Force.”
The mission of the RCO is to expedite development and fielding of select Department of Defense combat support and weapon systems by leveraging defense-wide technology development efforts and existing operational capabilities.
“The problem with it [X37-B] is whether you see it as a weapons platform,” said Theresa Hitchens, former head of the Center for Defense Information’s Space Security Program, now Director of the United Nations Institute for Disarmament Research (UNIDIR) in Geneva, Switzerland.
“It then becomes, if I am not mistaken, a Global Strike platform. There are a lot of reasons to be concerned about Global Strike as a concept,” Hitchens told SPACE.com.
The implications of the program as a possible space weapon are surely not lost on potential U.S. competitors, Hitchens said, who may well see anti-satellites (ASATs) as a leveler.
“Would this thing be vulnerable to ASATs? Yes, if it stayed on orbit any length of time,” Hitchens added. “While I see value of such a platform as a pop-up reconnaissance or even communications platform, if weaponized it becomes yet another reason for other nations to consider building dangerous ASATs,” she cautioned.
Another mission question is, to what extent the X-37B might play into the recent announcement that NASA is partnering with the U.S. Air Force Research Laboratory to develop a technology roadmap for the commercial reusable launch vehicle, or RLV, industry.
All that said, and after years in the making, the X-37B is approaching its first globe-trotting, milestone making and historic flight – that much is known.
My my, I’m sure it’s just everyone’s imagination this little Pentagon item exists!
It makes you wonder what else is up there?
Maybe this is the real reason the Pentagon wants Gary McKinnon sooo Bad?
‘Extraterrestrial Officers?’ Hmm…
If you think this is BS, remember the military always had a more advanced space program than NACA/NASA.
The above space plane has its’ roots in Project Dinasoar.
And Neil Armstrong was involved in that!
For those of you who read my blog, I occasionally post some Fortean esoterica along with the science stuff and there was nobody better at writing about certain types of esoterica than Mac Tonnies.
Mac was the guy who come up with the ‘cryptoterrestrial’ idea of UFOs being inhabited (controlled?) by beings who were here on Earth alot longer than humans and vastly more evolved and intelligent also.
He also wrote some books about the ‘monuments’ on Mars and appeared on such podcasts as The Paracast and Binnall of America.
I only communicated with Mac for a while while commenting at one of his sites (he had two) and for the exruciatingly short period of time I did this, I am the better person for it.
I shall miss him on the blogosphere and this plane of existence.
Happy Travels Mac, I’m sure we’ll cross paths in a more personal setting the next time around!
When Branson’s White Knight Two (Eve) space ship carrier was at Edwards Air Force Base on October 17th, there was some noticable changes on the airfoil.
Scaled Composites has added holes to the inboard spoilers of Virgin Galactic’s WhiteKnight Two mothership prototype Eve.
Photographed on 15 October during its twentieth test flight that lasted around 4h, the carrier aircraft was performing high angle-of-descent approaches during a sequence of touch-and-go manoeuvres.
Scaled Composites and Virgin Galactic have declined to explain why the holes have been added, but these modifications would reduce the degree of drag the spoilers provide and are the latest in a series of changes to the WK2’s control surfaces this year.
The mothership had not made a test flight since its 1 August return from the EAA AirVenture air show in Oshkosh, Wisconsin, a 10-week hiatus that is the longest since its maiden flight on 21 December 2008.The changes to the spoilers follow a series of structural modifications to WK2’s rudders earlier this year including the addition of extra control cables just before the Oshkosh air show. At the air show Scaled’s chief engineer and founder Burt Rutan explained that WK2 had had an “unstable rudder”.
As for the spoiler modifications, Virgin Galactic president Will Whitehorn says: “This innovation is to prepare WK2 for [the SpaceShipTwo] captive carry flights by what [Scaled Composite president] Doug Shane calls ‘a continued refinement of the spoiler geometry to optimise loads and buffeting levels’. The first [SS2 captive] flights will be in early 2010.”
I wonder if the alterations to the carrier attachment and airfoil has anything to do with Branson’s recent meetings concerning launching small rockets from the WK2 carrier in order to enter the satellite market?
I wonder how much truth will come out of this?
There’s one Augustine panelist who endores the Constellation Program for NASA:
Two days before a blue-ribbon panel’s final report on options for the U.S. human spaceflight program is due, a key panelist issued a strong personal endorsement of the NASA’s existing plan to go back to the Moon with the Orion Crew Exploration Vehicle and Ares family of rockets.
“I’m a rocket engineer, a rocket scientist. I’m a big, big believer in the need for rocket technology, so I personally want to see Ares 1 going and the program going as it’s currently structured,” said retired Air Force Gen. Lester Lyles, a member of the White House-appointed Review of U.S. Human Space Flight Plans Committee led by former Lockheed Martin chief Norm Augustine.
Lyles, who led the Augustine panel’s subcommittee on interagency and international cooperation, said while it may be prudent to study other options, he would not want to “disrupt” what he considers a successful program.
“When I say successful, I mean they’re meeting most of their milestones, if not all of them, and seem to be technically doing the right thing,” said Lyles, who spoke Oct. 20 during a luncheon hosted by Women in Aerospace and the Washington Space Business Roundtable here, two days before the Augustine panel is slated to release its final report at an Oct. 22 press conference here. A summary report released in September said that NASA’s current program was “unsustainable” without a substantial budget boost and laid out several options for a U.S. human spaceflight program that did not include the Ares 1 rocket under development since 2005.
During his talk, Lyles said Augustine would address criticism of the panel’s cost estimates, conducted by Los Angeles-based Aerospace Corp., during the press conference.
“We know since the initial summary of the report came out there’s been some criticism, some comments about cost analysis that we did, and some comments from a lot of circles as to whether or not, why we did not endorse the program of record strongly enough,” Lyles said. “I thought we had, and I think that might be one of the things you’ll hear Norm address on Thursday.”
Lyles, who said he was recently tapped by NASA Administrator Charles Bolden to lead the NASA Advisory Council’s space exploration subcommittee, said the Augustine panel determined an additional increase of $3 billion annually beginning next year is needed to fund any meaningful space exploration beyond low Earth orbit.
“Human spaceflight beyond [low Earth orbit] is not viable under the current fiscal year  budget guideline,” he said. “We thought that increased funding level would allow the administration, NASA, to support either an exploration program perhaps going to the Moon first or a flexible path option, so that’s what you’ll find.”
Asked to clarify whether or not the committee is calling for a full $3 billion annually for NASA beginning next year, or a more gradual increase leading to a $3 billion plus-up by 2014, as the panel’s initial findings appeared to indicate, Lyles said meaningful human space exploration is possible only with an immediate $3 billion annual increase above the agency’s 2010 budget run-out.
“I’m not sure what has changed in our final deliberations. I will tell you going in, in our final session, we were talking not a ramp up, we were talking about $3 billion a year,” he said. “We thought at least that was necessary, not to get us back to where we should have been if the budget hadn’t been constrained since 2004, that would take probably significantly more dollars if you will, but we certainly weren’t talking about a ramp up, we were talking about a step increase, if you will.”
Lyles said that $3 billion annual increase would not include additional funding to keep station going beyond 2016, an expense not included in NASA’s current budget plan.
I wonder what the international partners have to say about no additional funds from the US after 2016?
Would they come up with more partners or money on their own?
If not, would they chip in with the Chinese on their space station in 2018?
Check out New Scientist’s version of the Augustine Panel’s Options that will be presented to the White House tomorrow:
A White House-appointed panel has rated five visions of the future of US human space flight. New Scientist added up the numbers1 The status quo
If NASA continues on its current path with no extra money, its new Ares I rocket and Orion capsule (planned design illustrated here) will not be ready until after the International Space Station has been de-orbited – which is scheduled to happen in 2016. The return to the moon for which Ares and Orion have been designed would not happen until “well into the 2030s, if ever”, according to the committee’s summary report
Destination reached: ISS (but only until 2016, when it is de-orbited)
For: safety (0) – astronauts stay relatively safe by not venturing beyond Earth orbit
Against: schedule (-2) – human moon landings still wanted, but lack of funds could postpone them indefinitely
Overall score: -15
It’s going to go down to the wire. The politicos in states like Texas, Florida and Alabama want to bring the pork home to the constituents where NASA has contractors that’s building the ‘corn-dog’ (Ares1) rocket’s parts.
Most are hollering for the $3 billion short-fall now (2010 mid-terms y’know) in order to look the hero who saves NASA ‘jobs.’
It’s almost comical to watch.
How the banksters on Wall Street stole everything and how the politicos let them:
On Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns would lose more than half their value in nine days or less. It was madness — “like buying 1.7 million lottery tickets,” according to one financial analyst.
But what’s even crazier is that the bet paid.
At the close of business that afternoon, Bear Stearns was trading at $62.97. At that point, whoever made the gamble owned the right to sell huge bundles of Bear stock, at $30 and $25, on or before March 20th. In order for the bet to pay, Bear would have to fall harder and faster than any Wall Street brokerage in history.
The very next day, March 12th, Bear went into free fall. By the end of the week, the firm had lost virtually all of its cash and was clinging to promises of state aid; by the weekend, it was being knocked to its knees by the Fed and the Treasury, and forced at the barrel of a shotgun to sell itself to JPMorgan Chase (which had been given $29 billion in public money to marry its hunchbacked new bride) at the humiliating price of … $2 a share. Whoever bought those options on March 11th woke up on the morning of March 17th having made 159 times his money, or roughly $270 million. This trader was either the luckiest guy in the world, the smartest son of a bitch ever or…
Or what? That this was a brazen case of insider manipulation was so obvious that even Sen. Chris Dodd, chairman of the pillow-soft-touch Senate Banking Committee, couldn’t help but remark on it a few weeks later, when questioning Christopher Cox, the then-chief of the Securities and Exchange Commission. “I would hope that you’re looking at this,” Dodd said. “This kind of spike must have triggered some sort of bells and whistles at the SEC. This goes beyond rumors.”
Cox nodded sternly and promised, yes, he would look into it. What actually happened is another matter. Although the SEC issued more than 50 subpoenas to Wall Street firms, it has yet to identify the mysterious trader who somehow seemed to know in advance that one of the five largest investment banks in America was going to completely tank in a matter of days. “I’ve seen the SEC send agents overseas in a simple insider-trading case to investigate profits of maybe $2,000,” says Brent Baker, a former senior counsel for the commission. “But they did nothing to stop this.”
The SEC’s halfhearted oversight didn’t go unnoticed by the market. Six months after Bear was eaten by predators, virtually the same scenario repeated itself in the case of Lehman Brothers — another top-five investment bank that in September 2008 was vaporized in an obvious case of market manipulation. From there, the financial crisis was on, and the global economy went into full-blown crater mode.
Like all the great merchants of the bubble economy, Bear and Lehman were leveraged to the hilt and vulnerable to collapse. Many of the methods that outsiders used to knock them over were mostly legal: Credit markers were pulled, rumors were spread through the media, and legitimate short-sellers pressured the stock price down. But when Bear and Lehman made their final leap off the cliff of history, both undeniably got a push — especially in the form of a flat-out counterfeiting scheme called naked short-selling.
I don’t hold any thought of these criminals ever coming to justice; they own too many businesses, judges and politicians for this.
The only way these people will ever be caught is through a whole-sale revolution.
Want some more bankster ‘tinfoil?’
Well here’s some more!
One of America’s wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that prosecutors say generated more than $25-million (U.S.) in illegal profits and should be a wake-up call for Wall Street.
Raj Rajaratnam, a partner in Galleon Management and a portfolio manager for Galleon Group LLP, a hedge fund with up to $7-billion in assets under management, was accused of conspiring with others to trade based on insider information about several publicly traded companies, including Google Inc.
U.S. Attorney Preet Bharara told a news conference it was the largest hedge fund case ever prosecuted and marked the first use of court-authorized wiretaps to capture conversations by suspects in an insider trading case.
He said the case should cause financial professionals considering insider trades in the future to wonder whether law enforcement is listening.
“Greed is not good,” Mr. Bharara said. “This case should be a wake-up call for Wall Street.”
Joseph Demarest Jr., the head of the New York FBI office, said it was clear that “the $20-million in illicit profits come at the expense of the average public investor.”
The Securities and Exchange Commission, which brought separate civil charges, said the scheme generated more than $25-million in illegal profits.
Robert Khuzami, director of enforcement at the SEC, said the charges show Mr. Rajaratnam’s “secret of success was not genius trading strategies.”
“He is not the master of the universe. He is a master of the Rolodex,” Mr. Khuzami said.
Galleon Group said in a statement it was shocked to learn of Mr. Rajaratnam’s arrest at his apartment. “We had no knowledge of the investigation before it was made public and we intend to co-operate fully with the relevant authorities,” the statement said.
The firm added that Galleon “continues to operate and is highly liquid.”
Mr. Rajaratnam, 52, was ranked No. 559 by Forbes magazine this year among the world’s wealthiest billionaires, with a $1.3-billion net worth.
Mr. Rajaratnam – born in Sri Lanka and a graduate of University of Pennsylvania’s Wharton School of Business – has been described as a savvy manager of billions of dollars in technology and health-care hedge funds at Galleon, which he started in 1996. The firm is based in New York City with offices in California, China, Taiwan and India. He lives in New York.
According to a criminal complaint filed in U.S. District Court in Manhattan, Mr. Rajaratnam obtained insider information and then caused the Galleon Technology Funds to execute trades that earned a profit of more than $12.7-million between January, 2006, and July, 2007. Other schemes garnered millions more, authorities said.
A spokesman for Mr. Rajaratnam did not immediately return a phone call for comment Friday.
The timing of the arrests may be explained by a footnote in the complaint against Mr. Rajaratnam. In it, an FBI agent said he had learned that Mr. Rajaratnam had been warned to be careful and that Mr. Rajaratnam, in response, had said that a former employee of the Galleon Group was likely be wearing a “wire.”
The agent said he learned from federal authorities that Mr. Rajaratnam had obtained a plane ticket to fly from Kennedy International Airport to London on Friday and to return to New York from Geneva, Switzerland next Thursday.
Also charged in the scheme are Rajiv Goel, 51, of Los Altos, Calif., a director of strategic investments at Intel Capital, the investment arm of Intel Corp. (INTC-Q20.410.231.14%) ; Anil Kumar, 51, of Santa Clara, Calif., a director at McKinsey & Co. Inc., a global management consulting firm; and Robert Moffat, 53, of Ridgefield, Conn., senior vice-president and group executive at International Business Machines Corp.’s (IBM-N123.061.421.17%) Systems and Technology Group.
The others charged in the case were identified as Danielle Chiesi, 43, of New York City, and Mark Kurland, 60, also of New York City.
According to court papers, Ms. Chiesi worked for New Castle, the equity hedge fund group of Bear Stearns Asset Management Inc. that had assets worth about $1-billion under management. Mr. Kurland is a top executive at New Castle.
Mr. Kumar’s lawyer, Isabelle Kirshner, said of her client prior to his first court appearance: “He’s distraught.”
Kerry Lawrence, an attorney representing Mr. Moffat, said: “He’s shocked by the charges.”
It was not immediately clear who would represent the others in their initial court appearances.
A criminal complaint filed in the case shows that an unidentified person involved in the insider trading scheme began co-operating and authorities obtained wiretaps of conversations between the defendants.
In one conversation about a pending deal that was described in a criminal complaint, Ms. Chiesi is quoted as saying: “I’m dead if this leaks. I really am. … and my career is over. I’ll be like Martha [expletive] Stewart.”
I don’t know why this arsehole mentioned Martha Stewart, she didn’t scam nearly as much money as this idiot did!
But he’s not the only one I’m sure and he’s was clearly ‘thrown under the bus!’
The beginning of the end of the American Federal Empire?
You’ve heard the rumor that Middle Eastern oil producers, plus China, Japan and France have all agreed to start trading oil using a basket of currencies – instead of the dollar – starting in 9 years (see this explanation for why the governments are denying the rumor).
But – whether or not the rumor is true – the world has actually been moving away from the dollar as the preferred method for settling trades for years.
The Wall Street Journal reported yesterday:
China and Russia are working on ways to eventually settle their trade with the Chinese yuan and Russian ruble, senior government officials from the two countries said Tuesday.
In January, it was reported that China had reached a similar arrangement with Brazil:
The Brazilian Central Bank announced it had reached an initial understanding with China for the gradual elimination of the US dollar in bilateral trade operations which in 2009 are estimated to reach 40 billion US dollars.
Indeed, as I pointed out in March 2007, many countries started moving out of the dollars as the basis for international trade settlements, including:
- Venezuela and 12 other Latin American countries as well as Cuba
- Many other countries
As I and many others have argued for years, everyone wants to get out of the dollar, but not all at once. Foreign central banks want to move out of dollars gradually so they are not left holding worthless paper.
But the process actually started a while back.
Yeah I know, we’ve been predicting the ene of the AFE for a while now and it really hasn’t happened yet.
But as the poster noted, this is going to happen over a period of nine years, so it isn’t going to be quick.
Bu$hco initiated the process and the Obamanator is going to manage it.
The left/right paradigm is bullsh*t and is just a cover for the globalists.
Branson’s Eve at Edwards AFB:
Yep, that’s a B2 in the background.
Here are some LCROSS impact images released from NASA.
Quite different than initially advertised, eh?
I guess there was some dust that got kicked up, just not what NASA thought.
It was supposedly a sodium cloud. No sign of water.
NASA still plans on rolling out the Ares 1-X test rocket out to its launch pad tomorrow 10/20/09.
39B Tuesday morning after engineers replaced a leaky part inside the first stage’s steering system.Jon Cowart, the mission’s deputy project manager, said the only hurdle standing in the way of rollout on Tuesday is the availability of a crawler-transporter to carry the rocket and its launch platform from the Vehicle Assembly Building to the seaside pad.
“We’ve had a bit of an issue with our crawler-transporters. Both of them have experienced failures in the last couple of days, so we’re working very hard on Crawler-Transporter 2. There’s a bearing that they’re having to look at and I think they’re going to get past this issue,” Cowart told Spaceflight Now on Saturday night.
“If they do, and we have every expectation right now they they will, it looks like we will roll out Monday night,” Cowart said.
First motion out of the VAB would occur at 12:01 a.m. EDT Tuesday.
Teams are working over the weekend to close out the rocket’s first stage aft skirt after installing a fresh hydraulic accumulator.
If Ares 1-X is able to roll out Tuesday, one day later than planned, Cowart said the launch could still occur as scheduled on Oct. 27.
The test flight shares much of the same launch pad workforce now preparing the shuttle Atlantis for a mission next month.
“There’s still some active negotiation to be done with our shuttle brethren as well as the Range folks, but it looks like we can work things around. You know we had gone to that eight-day pad flow. Even rolling out a day late, if we can get good cooperation, and it looks like we will, we can condense our pad flow back down to seven days and still make our first launch attempt on the 27th,” Cowart said.
Ares 1-X only has Oct. 27 and Oct. 28 booked with the Air Force due to the Eastern Range’s unavailability in late October and early November. Barring fruitful negotiations, the next attempt would slip to November at the earliest.
Officials held a program-level Flight Readiness Review at Kennedy Space Center on Saturday.
“We had a good meeting where we reviewed all of our open items, open paper and work to go,” Cowart said.
“We talked about some of the big issues we’ve had over the course over the last couple of years, the ones that got everyone’s attention, and when we looked at all that and we laid out the work that we had to go do, there’s some open paperwork that still has to be closed out,” Cowart said.
But managers approved plans for rollout and continuing launch preps in advance of a senior agency-level FRR.
“We got a unanimous go to proceed to rollout, closing the items that we have, and proceeding to the agency FRR next Friday.”
There has been much rolling in ashes and nashing of teeth concerning the Constellation Program and the Ares Project in particular because of lack of funding and vision. There are many polticians who really didn’t give a shit about funding the project until the Augustine Commission’s findings.
One such finding was that commercial/contract space launch corporations could save the tax-payers lots of bootle by taking over some of the launch services from NASA to supply the International Space Station.
Needless to say, many politicians who have companies in their home states involved in the contruction of the Constellation Program’s many components aren’t too pleased about that aspect of the panel’s findings.
To that I say “Too f*cking bad.”
If you people were so concerned about the project to begin with, you would’ve properly funded it instead of letting it wither on the vine.
As for the launch of the test rocket, I think it’s good that NASA got off its arse to test a new roman candle.
Maybe it won’t be such a waste of money to find if the design has flaws, since these people claim it’s so hard to build the damn things!