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« June 2007 | Main | October 2007 »

Voyeurist Media Ignores Reality

Vultures_on_nightmare_news_2
Elaine Meinel Supkis


The helicopter crash in Phoenix and the New Republic story about a blogger in the military being attacked by chickenhawks at home for telling stories of US military abuses and wild behavior in Iraq are two sides of the same coin. The US is in love with watching chases, explosions and chaos. This is the main course of our TV shows and movies. Yet we don't want to see the chaos, chases and explosions in Iraq! We want to ignore that mess while moronically being entertained by domestic messes. TV news is all about entertaining people at the lowest level: the prying, spying gossips who ignore real crimes while focusing only on little scandals.


From the Straits Times:

A PAIR of US television helicopters covering a police chase collided mid-air on Friday, then crashed to the ground in a blaze of fire and smoke, killing all four people on board, police said.


I hate buzzing helicopters flying overhead. I was twice gassed by a sheriff's helicopter during the Vietnam War years. The military handed out their gear to the police forces at home during the sixties so they could wage war here as well as abroad. And the military gave vomit gas to the parapolice forces and they used this on us until it was stopped because it made the cops sick, too.


I was a medic back then during demonstrations and treated people who were gassed. This chemical would enter the skin and make one very sick. Once, in Tucson, a helicopter dropped it on the street between the police and students refusing to move. The wind blew it into the face of the police who all got very sick. I ran over to the captain and ordered him and his men to follow me to a garden hose nearby and I thoroughly sloshed them done, washing the chemical off. Since then, I don't like helicopters flying overhead. On top of this, they are very noisy.


Since then, the use of helicopters over cities has grown worse. I used to work at 44th St and Park Avenue on the 40th floor of the building next to the Empire State building and the Chrysler building. A helicopter took off from the roof of Grand Central Station and a blade came off and flew into the office of a secretary in the Chrysler building across the street and it decapitated her. The mayor forbade helicopter flights over Manhattan and they could only use the rivers on either side to move up and down. We hear of stories every once and a while of one going down in the East River.


Now there are more and more helicopter tourist services. In the Grand Canyon, there were so many, the sound of these irritating machines were deafening and they crashed into each other once and a while. Back when there were few TV stations and fewer helicopters, they were not a menace but with the advent of the infamous White Bronco Chase, an idiotic moment in US media history, they realized there is gold in them thar moron watchers of TV car chases.


More and more, the news focused on live reports of ongoing police car chases. Police car chases are dangerous by themselves but having a dozen TV helicopters buzzing overhead is twice as dangerous. Since there is a considerable number of bored, low-IQ people out there who are entertained by this childish game, there is a lot of pressure to produce more and more shows and make them more and more dramatic. The police, instead of using their heads, head out the door and rush into chases. The uglier the chase ends, the more violent and the more bodies, the happier the TV station owners are.


This helicopter chase crash was pure gold for them.


Viewers who tuned in to watch the police chase live heard someone aboard one of the helicopters say, 'Oh geez', before seeing a jumble of images as the live broadcast broke up, US media reported.
*snip*
Reporters wiped away tears as they focused their cameras on the smoldering wreckage of the two TV news helicopters.


9/11 was a fabulous event for all the media outlets. But it had a downside, briefly, namely, the ads urging us to buy stuff were no good. Mega events are not good for selling junk. But with car chases, there can be lots of ads selling fast muscle cars, fast females flashing their assets could sell insurance or ice cream. The bonanza of gaining lots of bored watchers needing tittilation is priceless for the media, anxious to get advertising dollars.


So this beast grows stupider and eats up more and more airspace on TV.


'It's too weird, too close to home,' said Cochran, whose days typically involve focusing his camera on crashes, police standoffs and families struck by tragedy. 'Now I know how everybody else feels.'


I remember this Ray Bradbury story where these aliens would be crowds that rush over to tragedy in order to suck up the life force of whever was in trouble. I used run a street patrol in Park Slope. While I was big on this activity, I ended up taking care of police situations all over the city, it just became a habit. Nearly every time I took care of a crisis such as when a man beat a Chinese couple with a baseball bat (yes, I was in the news each time this happened), there would be a huge crowd watching until I run up and take charge. In the case of the baseball bat guy, I happened to have my practice rattan sword with me and I disarmed him using it. The thing is, people like to gawk. This causes huge traffic tie-ups when there is something going on that attracts attention. Whole cities can be paralyzed by gawkers.


Police swarmed into the park and started pushing bystanders back as TV cameramen struggled to get one last look at their colleagues.

Several dozen reporters eventually crowded into the gated entrance of the park and set up their cameras in the baking afternoon sun, weeping into their cell phones and hugging each other between live shots.


This is pure voyeur vulturism. I have noticed over the years that humans enjoy the release of inner doubts and tensions when there is violence and then they may cry and hug each other. Then, instead of doing something smart that would prevent these painful events, they redouble their efforts to make these events happen again and again. This is why we go through the same moronic cycle with our wars. The joy of chest beating, the happiness of killing and not being killed in return, bombing everyone from the sky and then laughing because this proves we are gods, when the ugly mess comes rolling back to engulf us, we then shut down and refuse to look at it. Instead of gawking, we drive past as fast as possible.


Instead of thinking about our wars, we think about anything but that. We rush off to gawk at car chases while ignoring car explosions in Baghdad.


From Raw Story:

The New Republic's anonymous "Baghdad Diarist" identified himself yesterday as Scott Thomas Beauchamp, an Army private in Iraq, and disputed as "maddening" accusations that he had invented his accounts of cruelty by American soldiers.

The magazine's editor, Franklin Foer, disclosed in an interview that Beauchamp is married to a New Republic staffer, and that is "part of the reason why we found him to be a credible writer." Foer also said Beauchamp "has put himself in significant jeopardy" and "lost his lifeline to the rest of the world" because military officials have taken away his laptop, cellphone and e-mail privileges.

As both the military and the magazine investigate Beauchamp's allegations, a personal blog surfaced in which Beauchamp said last year that each morning he feels "retarded for joining the army," "a little more liberal than the day before" and "a tool for global corporations.


The military hides 99% of what they do because what our soldiers do is often very ugly and often, illegal. In grinding occupations of other people's countries, we are always very, very brutal and out of control. I have seen videos of soldiers simply emptying their guns into anyone and everyone on the street below when a sniper shoots at them. You Tube has been quite instructive about what is really going on which is why the military is now reducing the ability of soldiers to access the internet because the Pentagon wants to hide our activities.


And the mainstream media doesn't want to know it, either. It is bad for advertisers! Seeing our own ugly faces in Iraq committing Nazi-level war crimes doesn't induce people to go to the mall or buy fast cars! Anything that brings feelings of guilt are verboten on US TV.


Beauchamp's writing was challenged by the Weekly Standard and conservative bloggers after he wrote vividly, and profanely, of soldiers mocking a woman disfigured by an injury, getting their kicks by running over dogs with Bradley Fighting Vehicles and playing with Iraqi children's skulls taken from a mass grave.


Our President and the DNC's candidate last election both belong to a satanic ritual cult that plays with skulls including a child's skull. The media never investigates this nor do they broadcast this significant fact. It is very high on the 'verboten' list! The TV comedian, Colbert, was asked to do some helpful propaganda about all this, he mocked researchers who track the various interlocking satanic ritualist covens that are at the dark heart of our ruling elites. With all the interest in the media over the latest drunken driving of ditzy divas, one would imagine they would happily cover the drunken nude orgies at the Bohemian Grove get-together. But no, this voyeurism suddenly goes blind when the camera turns towards the Real Rulers.


The right wing bloated bloggers who sit at home, attacking anyone and everyone who tries to talk about the illegal war, who tries to talk about the ruling class, who tries to uncover what is really going on, are powerful people petted by the rulers. They can lie to their heart's content and never suffer any slings and arrows from the mainstream media. When left wing bloggers point out factual errors, this is ignored. But any sort of 'research' by this mob of cowards gets full press treatment. One would imagine, with the majority of citizens against the war, this would stop at last.


But it goes onwards just as it did during the Vietnam war. Anti-war people rarely got to write editorials. And if they talked about imperialism and the right of the Vietnamese to fight us, never, ever was such a point of view allowed. If a movie star said it, this got negative press coverage, note how Jane Fonda was treated! To this day, no one in the media defends her nor are writers like myself allowed to publish something that defends her! So the right wing bloggers slog onwards, gaining access to the top pages in the news media while the mass of us non-right wing writers storm and yell outside.


Culture of Life News Main Page


Xinhua Parent Organization Is Being Sued For Fraud

Elaine Meinel Supkis


While looking up data and stories concerning a collapsing hedge fund, I discovered this little tid-bit about Xinhua News' parent corporation being sued by investors after the very recent IPO went on sale. It is a classic story of inexperienced people messing around and doing things the wrong way because they either don't have good lawyers working for them or they are arrogant and think they are above the law or they can hold much more power than the law allows due to conflict of interest situations. This all happened in the last two weeks. Time to rake Xinhua over the nasty old coals!


LERACH COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP FILES CLASS ACTION SUIT AGAINST XINHUA FINANCE MEDIA LTD.

The complaint charges Xinhua and certain of its officers and directors with violations of the Securities Act of 1933. Xinhua is a diversified media company in China.

The complaint alleges that on March 9, 2007, Xinhua accomplished its IPO of 23.07 million ADSs, representing 46.15 million common shares, at $13.00 per ADS (including 1.5 million shares sold by Xinhua’s Chairman and Chief Executive Officer, Fredy Bush) for net proceeds of $300 million, pursuant to the Registration Statement. Due to defendants’ positive but false statements following the IPO, by May 15, 2007, the stock was trading around $12.00 per share.

Then on May 21, 2007, Barron’s published an article on Xinhua disclosing that the Registration Statement for the IPO failed to disclose that Xinhua’s Chief Financial Officer (“CFO”) was simultaneously the Company’s CFO and an investment banker and stockbroker who ran a securities firm that had been under regulatory scrutiny in the past year.

On this news, Xinhua’s stock price collapsed from $10.79 per share on May 17, 2007 to close at $8.76 per share on May 21, 2007, on unusually high volume.

Plaintiff seeks to recover damages on behalf of all persons or entities who acquired Xinhua ADSs pursuant to the Company’s false and misleading Registration Statement issued in connection with its March 8, 2007 IPO. The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.


This law firm is one of the biggest representatives in the Enron lawsuits that are being heard this summer all the way to the Supreme Court. Which is filled with pro-rip-off corporate Justices who happen to be the very same people who voted to stop counting the votes in the 2000 election and then installed Bush as King of the USA. Nonetheless, this firm continues to represent investors who feel they are being defrauded. This will probably be the only growth industry in the next 10 years as all the hedge fund hell hounds roll over and play dead and all the equity funds become unequal.


There are so many fraudsters and liars on Wall Street and all over kingdom come, I need to wear my big rubber boots I use to muck out the horse stables when discussing their affairs. In the case of this present story, I was amused that Xinhua, the mouthpiece of the Chinese communist leadership, is run by an American, Fredy Bush (is she a close relation to the other Bushes?)---at least, she is their figure head. Only she couldn't figure out which way to head and hit a brick wall which is made up of many laws and SEC regulations!


From News Wire:

New York, NY, United States, 06/28/2007 - Recent Legal Actions filed against Xinhua Finance Media (NasdaqGM: XFML) lead CFC’s China Business Watch to suspend stock’s SAQ rating rating.

China Finance Centre, the New York based multimedia and trade exposition center expanding business ties between China and the United States, has announced that it has suspended further ratings of the performance of Xinhua Finance Media (NasdaqGM: XFML). The SAQ Ratings are set by editors of China Business Watch, the CFC publication that rates the performance of China based companies.

Xinhua, a diversified media company in China, operates of five divisions: Media Production, Broadcasting, Print, Advertising, and Research. Over the last two weeks, nine law firms have announced that they have filed class action lawsuits against Xinhua Finance. The lawsuits allege that Xinhua and certain of its officers and directors with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, including the failure to disclose and misrepresention of material adverse facts. On May 21, 2007, Barron's published an article on Xinhua which reported that the Registration Statement for the IPO failed to disclose that Xinhua's Chief Financial Officer, Shelly Singhal, was simultaneously the company's CFO and an investment banker and stockbroker, who ran a securities firm that had been under regulatory scrutiny in the past year.

These events have led to the issuance of the following statement by CFC:
“In view of the serious nature of the legal filings against Xinhua Finance Media (NasdaqGM: XFML), China Business Watch SAQ Ratings Service has suspended the company’s SAQ Rating status until further definitive information is made available and assessed.”


Truly, one can't be all things for all people, not in the business world, anyway. Enron was like that, the top people ran everything and wore many hats and ended up either wearing a shroud or wearing an organge jumpsuit. Hedge funds are filled with people who have control of all aspects of the funds which is how they keep secrets. No need to tell and accountant or other busybodies like lawyers, what the hell one is doing!


Smart people often fall into stupid traps because of a desire to be in control while at the same time, trying to wave magic wands and make reality fit their own agenda and desires. So Xinhua will be hammered by disenchanted investors who would love to unload but hate losing profits.

Google Finance Charts for Xinhua Ltd.
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From the Wall street Journal:

On Monday, MarketBeat wrote about the abrupt resignation of two midlevel executives at proxy-advisory firm Glass Lewis, a subsidiary of Xinhua Finance Ltd. Today, another Xinhua subsidiary, Xinhua Finance Media, issued a press release in response to a shareholder lawsuit alleging misleading statements in the company’s IPO prospectus, against which Xinhua says it “intends to defend itself vigorously.” Xinhua Finance Media’s U.S. shares have fallen nearly 40% on heavy volume since last Thursday, when the controversy was just getting started.
*snip*
The Xinhua press release quotes Fredy Bush, the CEO of both Xinhua Finance Media and Xinhua Finance, as saying, “the Xinhua Finance business is robust and growing, as evidenced by the firms’ recent first quarter results and upward reforecast announcement on May 15th. The fundamentals of the businesses are strong, and I believe that the recent sell-off of shares does not reflect the performance of the businesses.”


Usually, when a CEO who is also the CFO as well as the banker and investment officer, would be resigning after causing a company's stock to be hammered so badly after a mere 4 months in the stock market arena! This is pretty bad. She should have kept it afloat for at least a year before messing up! Instead, Fredy seems to be living a very charmed life. Courtesy of the communist leadership.


From the Wall Street Journal:

Shanghai -- Xinhua Finance Ltd. is a financial-information company started by a no-nonsense American woman who pledged to make China's securities markets disclose more to investors. Now it's sending mixed signals about its own operations.

Fredy Bush, the 48-year-old, Utah-raised chief executive of Xinhua Finance -- whose Chinese moniker means "New China" -- is watching her Hong Kong-based company's stock price get pummeled as questions mount about her firm's corporate governance.


Like so many similar financier/executive officers in the past, she is rather young, I would say from my perch here of rather older age. I can remember similar wizards and wondermakers in the past who came up with neat ideas for making money but who ended up in serious trouble.


I found more information about Fredy and one site was the Milken Institute (for future rip-off artists?):

Fredy Bush
CEO, Xinhua Financial Network

Fredy Bush is CEO of Xinhua Financial Network responsible for establishing and refining Xinhua Financial strategic vision and developing and managing Xinhua's various business units and product lines. She brings with her over 16 years of experience in Asia and consistent entrepreneurial success. Possessing a unique knowledge of the international financial markets combined with in-depth understanding of relationships and business practices in Greater China, Bush has been instrumental in bringing in strategic partners and strategic investors for Xinhua. Prior to establishing Xinhua Finance, she worked closely with key government agencies in Taiwan from 1985-1990 to establish Taiwan's first official futures market and in 1987 founded a strong consulting business in the U.S. to build business alliances, particularly in Asia and the financial sector.


Evidently, she started off quite young and rather well connected--I'm rather suspicious of her name at this point due to the fact that the Chinese have showered money, attention and goodies on that grasping, weasel of a clan. The Bushes are all about exploiting their political connections. I couldn't find her geneology but it looks like a classic Bush family values business opportunity.


She was visiting the right wing-lunatic criminal organization set up by Milken, an infamous financier who went to prison in the past.


From the Milken Institute:

A “willingness and desire to become part of the global economy” by businesses and the government was raised by Fredy Bush. Ongoing initiatives to increase transparency and corporate governance have been reflected by Chinese companies’ management’s willingness to work with Xinhua Financial Network’s rating service. The panelists observed an overall trend to adopting international standards. The government used to be the greatest risk to business, but was now not considered a major risk factor to conducting business in China.


So, a mysterious young lady who rose rapidly in influence and power, working with the Chinese communists who pick their allies carefully, um, heh. Xinhua will rate Chinese companies and be open and forthcoming with information while not being this way with American investors. Right! Got it.


I also wanted to review Milken's sorry life. He is now totally rehabilitated and his institute works hard to continue to undermine our economy and destroy our future and ruin our credit rating and dump us into bankrutpcy. Why anyone graces this disgraceful man's institute is...well, perhaps they are truly all birds of a feather!


From Time Magazine:

By JOHN GREENWALD
Dec 3, 1990

The sobs that shook Michael Milken in Manhattan federal court last week punctuated the most dizzying fall from power in modern Wall Street history. They came as federal Judge Kimba Wood sentenced the financial wizard, whose junk bonds fueled the epic 1980s takeover wars, to 10 years in prison. Said the tearful felon: "What I did violated not just the law but all of my principles and values, and I will regret it for the rest of my life. I am truly sorry."

The sentence was by far the stiffest jail term in a five-year federal crackdown on securities fraud that has so far netted a dozen major convictions. The big fish included Wall Street speculator Ivan Boesky, who was fined $100 million for insider trading in 1986 and sentenced to three years in prison (he served two). As a condition of his plea bargain, Boesky helped prosecutors pursue Milken.
*snip*
But chief defense lawyer Arthur Liman may have blundered in his insistence that Milken's crimes were merely technical ones, even after the financier pleaded guilty last April to six of 98 counts of securities violations and agreed to pay a record $600 million in fines and restitution. The defense tactic helped precipitate an unusual two-week presentencing hearing that showed Milken's operations at the now defunct Wall Street firm Drexel Burnham Lambert to have been riddled with unlawful activities. Significantly, the new testimony did nothing to refute the government's claim that Milken had encouraged Drexel employees under him to destroy or remove incriminating documents. Moreover, Liman's strategy precluded Wood from crediting Milken for any real remorse. Said Wood: "Your crimes show a pattern of skirting the law, stepping just over to the wrong side of the law in an apparent effort to get some of the benefits from violating the law without running a substantial risk of being caught."


Bush, Jr, when his own company that drilled for oil was going belly up, did insider trading. Only daddy stopped the SEC investigatioin. This old news story is a reminder of the much smaller funds we were seeing in the unfolding banking collapse scandals during Bush Sr's lousy Presidency. Neil Bush was working with these rip-off artists and was caught in the collapse of the Silverado Bank bankruptcy. He, too, got off scot free and is now conspiring with the Saudis to collect bribery money under the guise of selling angry Arabs his computerized learning programs.


So, is everyone running away from Fredy Bush? Or is she rolling onwards as relentlessly as the other Bushes? And is she very connected or is she doing the impossible? For instead of retiring in disgrace after messing up the Xinhua organization, she instead, collects more power and more money!


From CNN Money:

BEIJING, July 5 /Xinhua-PRNewswire-FirstCall/ -- Xinhua Finance Media , China's leading diversified financial and entertainment media company, announced that its Advertising Group has signed an exclusive partnership contract with House.china.cn, the real estate portal under China.com.cn, one of China's leading portal sites.

China.com.cn provides a full range of information in Chinese, with versions in 10 other languages including English, French, Deutsch, Japanese, Korean, Spanish and Russian. Carrying timely real estate market information, its real estate portal, House.china.cn, attracts over 30,000 page views daily.

Under the 5-year partnership contract, XFMedia will have the exclusive rights to sell advertising on House.china.cn and organize marketing events for advertisers across China. XFMedia will also provide House.china.cn with content consultation services such as the latest financial news and insightful market research studies.

"I am delighted that we have been chosen by China.com.cn because of our proven capability in real estate advertising," Xinhua Finance Media CEO Ms Fredy Bush said. "The partnership represents a successful integration of XFMedia's production, advertising and events management capabilities."


OK. She has to be a member of the Bush Family Evil Empire. Normal people get canned for what she did but instead, the government of China gives her even more goodies. Since they are buying influence, this doesn't shock me at all. They know how to butter their bread.


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