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Simulist wrote:Bruce, you are unfailingly insightful.

Stephen Morgan wrote:as a youngster, he was sent by the Council to a school for the mentally subnormal, only to then be recruited into a school for brilliant foreign children
Bruce Dazzling wrote:Simulist wrote:Bruce, you are unfailingly insightful.
Coming from someone as insightful as yourself, I take that as a tremendous compliment.
James was to run the companies down, as they had been identified as conduits for IRA funds.
"The IRA had five companies completely ruined," said James. "They had built the companies up as pensions funds."
James' express instructions were to run the companies down and liquidise the assets, he said.
justdrew wrote:http://en.wikipedia.org/wiki/Office_of_International_Treasury_Control
streeb wrote:In this ZNet piece Lord James says he was a "money washer, not a money launderer...".James was to run the companies down, as they had been identified as conduits for IRA funds.
"The IRA had five companies completely ruined," said James. "They had built the companies up as pensions funds."
James' express instructions were to run the companies down and liquidise the assets, he said.
But in his speech to the Lords he describes the IRA as his "client." What gives?

MinM wrote:A somewhat related story, albeit at a local level, I ran across recently. The gist of it involves Banks, Chase, BoA, Wells Fargo et al., creating front companies that go around bailing out local municipalities. All they ask for in return is the right to collect property taxes. The 'good' part of this deal is that you don't have to worry if payment is a day or two late. You'll just have to pay the equivalent to a delinquent credit card rate of 20 - 30% and everyone's happy.
MinM wrote:These Banksters have quite the racket. Divisions that run the gamut from making home loans, to actively undermining those loans, and the part that deals with the derivatives that bet those loans will fail. This all the while they are secure in the knowledge that they are shielded from all and any liability.
It was through another gun - Saddam Hussein's supergun, and his key role in exposing it - that a decade ago James first made the transition from the business pages to the front pages. The affair also cemented his close links with the security services. As the Scott report into arms sent to Iraq makes clear, James did much of the legwork for MI6.
He first noticing the gun's three huge steel tubes, "the thinnest of which had a thumping great muzzle, like something from a strip cartoon siege gun", during a tour of Walter Somers' factory at Halesowen in the West Midlands.
A week after he passed his suspicions on to an MI6 contact called Mr Q, Gerald Bull, the supergun's Canadian designer, was assassinated in Brussels.
James later used his banking contacts to track down the rest of the weapon, which was supposed to fire anthrax shells into Israel, before it left Teesport docks. Part of this cloak-and-dagger operation involved him getting 900 documents from Walter Somers' offices which were photographed secretly through the night with MI6 equipment set up in a room at a Halesowen hotel.
justdrew
I think he means he was charged with phucking up their finances. at one point he mentions having taken X amount of money from them. I think that's what he means by 'wrote off' (as in 'made vanish').
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