Related UN Contingency Discussions:
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6 May 2011
From: Stephen M. Apatow
Founder, Director of Research & Development
Humanitarian Resource Institute
Humanitarian University Consortium Graduate Studies
Center for Medicine, Veterinary Medicine & Law
Phone: 203-668-0282
Email: s.m.apatow@humanitarian.net
Internet: www.humanitarian.net
HRI:UNArts: Humanitarian Intervention Initiative
Url: www.unarts.org/H-II
To Permanent Members of the UN Security Council
To: UN Secretary General Ban Ki Moon
Apatow: UN Security Council Discussions on Geoeconomic Security Continue
The world remains focused on the U.S. Treasury markets with rates at 1
month (.01%), 3 month (.01%) and 6 month (.07%), representing 2008 crisis
levels.
Tremendous progress is being made on the U.S. DOJ, Interpol cross jurisdictional
efforts to address financial crimes perpetrated in unregulated global financial
markets during the1999-2011 period. In the context of the OTC derivatives
market, the presentation and analysis of all records validating interrelated
instruments and transactions, will either substantiate the integrity of
or prove wrongdoing in sophisticated financial crimes.
The deeper analysis and surveillance of communications associated with
lobbyists, legislators, traders, analysts and media
will provide invaluable information regarding broader market implications
and resultant damages.
"Swiss-owned
bank UBS has reached a settlement with federal regulators and several states,
resolving charges that UBS employees tried to rig the bidding process in the
municipal bond derivatives market.
The U.S.
Justice Department, Securities and Exchange Commission, the Internal Revenue
Service and 25 states brought the action, claiming UBS' actions from 2001
to 2006 corrupted the competitive process and hurt municipalities, as well
as taxpayers.
The complaint
says several former UBS employees constantly manipulated the bidding process
in which local governments invested the revenue raised from the sale of municipal
bond offerings.
The bank
has agreed to pay $160 million in fines and restitution." [1]
Immediate
neutralization of geosystemic threats has focused attention on the SEC's Schapiro, who on 4 May 2011, told reporters
that we can't prevent a "flash crash" repeat. [2] World
Bank analysis that the global financial system is one shock away from a
catastrophic crisis, [3] spotlights the importance of geoeconomic security
discussions currently underway. The zero risk tolerance
objective for global financial markets has also intensified a focus on algorythmic high
frequency traders named cheetahs:
It is amazing how quickly and vastly these markets morphed
to where we are today as HFTs try to scoop up micro-dollars in milliseconds.
In the U.S., well over 90 percent of the trading is done electronically.
HFTs alone account for roughly 50 percent of the trades in Europe and roughly
a third of the trades in the U.S..... I have a word for high frequency
traders: cheetahs. In the animal kingdom, cheetahs can run seventy
miles-per-hour. They’re the fastest mammal on land. Zero to sixty
in three seconds—now that’s fast, fast, fast. So are markets today.
-- Speech of Commissioner Bart Chilton at the University of Chicago,
Chicago, IL, U.S. Commodity Futures Trading Commission. [4]
The 3 May 2011 "UN Security Council Appeal - Counterterrorism - Geoeconomic
Security" discussion follows.
References:
1. UBS Settles Fraud Charges With Feds, States: Consumer Affairs, 5 May
2011. Url: http://www.consumeraffairs.com/news04/2011/05/ubs-settles-fraud-charges-with-feds-states.html
2. SEC's Schapiro: can't prevent "flash crash" repeat:
Reuters, 4 May 2011. Url: http://www.reuters.com/article/2011/05/04/us-sec-flashcrash-idUSTRE7436OA20110504
3. World Bank president: 'One shock away from crisis': BBC, 17 April 2011.
Url: http://www.bbc.co.uk/news/business-13108166
4. Speech of Commissioner Bart Chilton at the University of Chicago, Chicago,
IL, U.S. Commodity Futures Trading Commission, 5 May 2011. Url: http://www.cftc.gov/PressRoom/SpeechesTestimony/opachilton-46.html
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