Heist of the century: Wall Street's role in the financial crisis | Business | The Guardian
The robbery was called the heist of the century, and even now the police can't explain he knew that his friend had a habit of coming apart at the end of a job. Business relationships follow the ancient family and religious. HEIST OF THE CENTURY - How Jho Low Used PetroSaudi As "A Front" To .. are signed and monies can be paid to PetroSaudi before end of Sept.” . Turki's royal connection, impressing on the 1MDB Chief Executive an. The Graff Diamonds heist remains Britain's biggest jewelry raid and is among one of the smartest Man organises robbery to end relationship.
There are, to be sure, some notable exceptions. But for the most part, the silence has been deafening.
How can an entire industry come to be structured such that employees are encouraged to loot and destroy their own firms? Why did deregulation and economic theory fail so spectacularly? The release of the film Inside Job clearly touched a nerve with regard to these questions. I was contacted by a large number of students and faculty, and there has been a great deal of debate.
Departments including the Columbia Business School have adopted disclosure requirements for the first time. But most universities still have no such requirements, and few if any have any limitations on the existence of conflicts of interest. The same is true of most academic publications.
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Newspaper reporters are strictly prohibited from accepting money from any industry or organisation they write about. Not so in academia. There has been one significant positive development. Earlier this year, the American Economics Association adopted a disclosure requirement for the seven journals it publishes. But most institutions continue to oppose further disclosure and, when I was making my film, refused even to discuss the subject.
This is an edited extract from Inside Job: The lesson, perhaps, is that obsession is not a Victorian convention. It may have been exacerbated in the era of abundance, but even Johnson demonstrates the ubiquitous-ness of obsession in his pursuit of answers within his book.
Like penetrating the jungles of Papua New Guinea and collecting beetles and lizards and birds, what started off as a quest to plumb the most remote mysteries of our home has ended only in human exploitation and mistreatment.
I must imagine that this mountain and many other places would have been okay, if not much better off, had we never managed to reach them. Of the birds stolen from the museum, only were returned, many plucked, clipped, or missing identification tags without which they hold little scientific value.
Some say the birds are doing no good tucked away in the drawers of the British Museum of Natural History. Why not offer up the corpses for a more practical purpose? Because appreciation should expand beyond the human perspective. And because, as Johnson helps us realize, one day very soon the contents of those drawers will be the only record of the remarkable cohabitants wasted upon humanity.
We can, for example, buy one oil and gas company in Indonesia called Star Energy — I have guaranteed access to that deal and could use that as a platform. On this idea of being a front, we need your input but if Indonesia is one place where you would like to be, we could buy this as a local platform to do more deals.
I think we should aim at answering the following questions as a next step: What is the right structure?
How do you want to run DD on this? I have set up virtual data rooms for both Turkmenistan and Argentina but you need to help us help you and let us know what sort of teams will be conducting DD for you, what info they will want etc. However any discussion on the JV and how that will work will only be with Tarek and me. What is a realistic timeline to close a deal I think this will depend somewhat on 2 above? PSI has options to buy into these companies or buy them outright. I have sent you presentations on both Neptune and Rubicon.
There is a big opportunity here because many companies Halliburton etc are either looking to get out of Venezuela or are being forced out. We could also put some of the Neptune or Rubicon assets in this JV. Another deal in this space is with the Schahin group in Brazil. Schahin are a very large construction and finance group in Brazil and the head of the group runs the Brazil-Arab Chamber of Commerce which is how we know him.
After making it big in construction and finance, Schahin decided to enter the offshore oil services sector, realising that Petrobras would be driving global demand for this industry going forward.
They have since bought drill ships and semi-submersibles and have them all contracted out to Petrobras this is rare in the industry, most people buy vessels and then look for contracts — here the contracts are there so revenue is guaranteed once the vessel is ready for service. Some of the vessels are still in ship yards in Korea and China and these require financing to complete them.
The deal here is to provide Schahin with financing so that the ships get built and can start working on the guaranteed contracts from Petrobras. We like this deal a lot and the partner, Schahin, is a stellar, blue-chip group in Brazil.
You can leverage the assets with banks and the key is getting contracts with national oil companies where, again, the Saudi influence helps as we have demonstrated in Venezuela. The deals in this space require large numbers so we need an investor with deep pockets if we are going to do this.
HEIST OF THE CENTURY - How Jho Low Used PetroSaudi As "A Front" To Siphon Billions Out Of 1MDB!
There is value in consolidating a few assets under one roof before the ultimate owner comes in. Again — just a thought on structure, you need to tell us what is achievable on your end and who will actually be doing this. Next steps here would be: If so, how much? If this is interesting, decide which deals we should do first?