Posts Tagged ‘Social Justice Warriors’

The FBI Protects Us From The Papist Menace!

Monday, April 10th, 2023

A century ago, the Klu Klux Klan was the most prominent anti-Catholic organization in America.

Political cartoon of the Klan fighting the Pope, brought to you by the kind of deep research only skimming a Wikipedia entry can provide.

The Klan stood ready to defend America against sinister conspiracy of the Bishop of Rome and his swarthy, dual-loyalty followers with vowels at the ends of their names.

I was thinking you have to go pretty far to style up the Pope’s hat more than in real life, but no, this 1943 Klan-affiliated cartoon is actually parodying the Papal Tiara, only used for coronations and which was abandoned by Pope Paul VI in 1964. Also, I’m going to go out on a limb and suggest that we had bigger foreign rulers to worry about than the Pope in 1943…

Well, times change and the Klan is a dead letter. Today, thanks to modern efficiency and social justice, the fight against the dread hand of Rome is carried out by none other than the FBI.

As part of its effort to identify extremists in the Catholic Church, the FBI recruited at least one “undercover employee” to “develop sources among the clergy and church leadership,” Representative Jim Jordan (R., Ohio) revealed Monday.

Jordan, the chairman of the House Judiciary Committee, issued a subpoena demanding FBI director Christopher Wray testify and provide more information to Congress about the federal agency’s intelligence-gathering initiative targeting Catholic Americans.

“This shocking information reinforces our need for all responsive documents, and the Committee is issuing a subpoena to you to compel your full cooperation,” Jordan claimed in the letter.

“Americans attend church to worship and congregate for their spiritual and personal betterment,” the letter added. “They must be free to exercise their fundamental First Amendment rights without worrying that the FBI may have planted so-called ‘tripwire’ sources or other informants in their houses of worship.”

The weaponization committee demanded that the FBI turn over information related to its investigation of Catholics after a former FBI agent leaked a memo entitled, “Interest of Racially or Ethnically Motivated Violent Extremists in Radical-Traditionalist Catholic Ideology Almost Certainly Presents New Mitigation Opportunities.” The memo, issued by the bureau’s Richmond field office, relied on information compiled by the biased Southern Poverty law Center about alleged “extremist” Catholic communities that prefer the Latin Mass and hold to conservative social teachings.

Presumably also “extremists” who believe that there are two biological sexes, or that dare to disagree with the policies of Obama the Lightbringer (PBUH).

Thou Shalt Have No Other Gods Before The State.

Is your church FBI approved, comrade?

The Rat’s Nest of Scandal In Democratic State Rep Jolanda Jones’s Office

Tuesday, April 4th, 2023

Smoothly-run offices have high retention rates and low attrition rates. So what does it tell you that Texas Democratic State Rep. Jolanda Jones has a 100% attrition rate in her senior staffers last week?

The senior staff for Democrat State Rep. Jolanda Jones of Houston announced their resignation over her ‘toxic and unethical’ behavior Thursday.

A Democrat behaving toxicly and unethically?

Jones, a freshman in the Texas House and former contestant on the reality show Survivor, reportedly “actively covered up [her] son Jio’s inappropriate relationship with one of [her] interns, who is significantly younger than him and is in a power imbalance, and [is] now using [her] position to intimidate and silence [her] own staff members.”

Nepotism? Check. Sexual harassment? Check. Also, Jiovanni Jones is evidently out on bail on felony drug charges. Criminal charges? Check.

According to Jones’ senior staff, she “continued to endorse, encourage, and create an abusive and hostile work environment in the workplace without accountability for [her] or [her] relatives’ actions.”

Jones’ chief of staff, legislative director, and district director told her to “own your S.H.I.T.,” in reference to Jones’ book titled “Owning My S.H.I.T.: Suffering Hardship Internalizing Trauma.”

Social justice warrior on social justice warrior fratricide? Check.

The staff’s resignation letter, which can be read in full below, focused mainly on an alleged inappropriate relationship between Jones’ son, Jiovanni Jones, and an intern in the office:

“Jio is not only your son, but General Counsel at Elite Change Inc. (registered lobbying firm and also the financial vehicle of your campaign manager, Dallas Jones).

More nepotism plus a mechanism to rake off campaign donations into your family’s pockets? Check.

If the name Dallas Jones seems familiar, it’s because he was accused of helping Democrats carry out election fraud back in 2020.

This inappropriate relationship may constitute as sexual harassment or a conflict of interest between his office of employment and your state office.

“It is concerning that you have not taken any steps to address his behavior, and instead have chosen to put everyone in the office at risk,” said the senior staff. “Your son is an absolute liability, and his behavior is now affecting the livelihoods and credibility of everyone on your payroll. It is so disappointing to see that while you build your profile on overcoming abuse, you cannot stand up to the abuser that you raised. You are holding a legal case hostage over your son’s girlfriend because you allow him to gaslight and emotionally and physically abuse all the women in his life – work and personal – while dragging your entire office through it.”

Funny how when you start digging into charges of cronyism against a Democratic office holder, a whole host of other unsavory activity comes tumbling out into the open…

Austin’s Ongoing Policing Crisis

Thursday, March 30th, 2023

The term of Austin Mayor Steve Adler was so disasterous that it’s wrecking havoc on Austin even after he’s out of office. The massive scores of drug-addicted transients still plague Austin, and the defunding attempt that, at heart, was a massive cash grab for far leftwing activists. All that, and the election of Soros-backed leftwing DA Jose Garza, has brought about a crisis in Austin policing.

Severely understaffed, defunded Austin PD on verge of retirement wave after city council ‘pulls rug out’ again

Police sources told Fox News Digital that 150 officers have made appointments inquiring about their retirement options

Austin police facing staffing shortages as 911 wait times soar…

Austin police officers past and present are warning Fox News Digital that the Texas capital’s police force critically depleted as a result of defunding in 2020 is on the verge of losing another wave of officers in response to a breakdown between the city and the police on a new contract.

An Austin Police Department source told Fox News Digital this week that 40 officers have filed their retirement papers following a 9-2 city council vote a few weeks ago to scrap a four-year contract that the city had previously agreed to in principle and instead pursue a 1-year contract that the police union’s board has rejected.

That move is believed by many to be due to intense pressure from anti-police activists in the city who look to hold off a long term deal until after voters decide on competing ballot initiatives dealing with “police oversight” that go before voters in May.

“It’s my opinion that the radicals and activists in the city have such a grip on our elected officials that at some point in time over the last year or so their plans changed,” the source, who is an Austin Police Department officer, said. “They said O.K. now we’re going to get signatures for this ballot initiative in May and switch gears and put pressure on city leadership to move away from a four-year deal to a one-year deal because the four-year is detrimental to what we are trying to accomplish.”

Dennis Farris, president of the Austin Police Retired Officers Association, told Fox News Digital he knows of 35 officers from the department that have filed retirement papers and at least six of them are “high ranking officers.”

“I fear we’re going to see a mass exodus of the senior people with longevity to where you’re going to have a department where maybe the average service time was in the high teens now and I think it’s going to drop into the low teens,” Farris said, explaining that departments without strong senior leadership often experience more problems due to “inexperience.”

Farris said that two waves of retirements, officers who have already filed and officers who will file when the contract officially expires at the end of March, could result in as many as 100 retirements. Two police sources told Fox News Digital that 150 officers have reached out to the retirement board in the last few days to discuss options.

The situation has gotten so bad that street racers felt no compunction about blocking off streets just south of downtown and doing donuts.

No wonder Dallas is trying to poach officers from APD.

Is there hope on the horizon? Some. Newly installed mayor Kirk Watson, though a Democrat, rejects Adler’s Social Justice Warrior “police defunding” policies. And Watson has helped forge a stopgap solution to the immediate crisis: Having DPS troopers assist with Austin policing.

The Texas Department of Public Safety (DPS) will supplement troopers to Austin Police Department (APD) shifts for assistance with the city’s staffing crisis.

The City of Austin announced the partnership with DPS on Monday, with Mayor Kirk Watson saying, “During my run for mayor, I promised we would make city government work better in providing basic services.”

“This is an example of that. It’s a common-sense, practical response to a serious need and arose out of a positive working relationship between the Capital City and the Capitol of Texas. I want to thank Gov. Greg Abbott, Lt. Gov. Dan Patrick, and DPS Director Steven McCraw for being willing to step in and work with us to ensure the safety of our shared constituents.”

DPS officers’ primary focus in conjunction with the agreement will be on traffic response, but may provide backup to city police during emergencies.

APD Chief Joseph Chacon added, “This is a wonderful resource and partnership that will provide relief to our APD officers and detectives who want nothing more than to focus on keeping Austin safe — whether that’s responding to domestic violence incidents, combatting DWI, or investigating criminal activity.”

Similar agreements have been implemented in Dallas and San Antonio, and Austin says it will come at no cost to the city. DPS has assisted APD before, including during last month’s breakout of street takeovers.

This is only a stopgap. The real solution is to immediately start recruiting and training more APD officers, and voting out Garza and all the pro-defunding, anti-police Austin City Council members who helped Adler get the city into this mess.

MiniLinkSwarm for March 25, 2022

Saturday, March 25th, 2023

For several weeks, I’ve been running out of time to post every link I’ve gathered, so I’ve been bumping some links (generally ones that seemed less time-sensitive or required more commentary than others) to the next week’s LinkSwarm, whereupon I may use one or two, but otherwise the process repeats.

Well, I’m just going to post all those today to clear the decks.

  • California’s leftwing Democratic Governor Gavin Newsom is using his position as governor subsidize his wife’s own leftwing business empire.

    In the summer of 2022, Governor Gavin Newsom convinced the state legislature to provide $4.7 billion for K-12 mental health services, which, among other things, funded 10,000 new school counselors.

    Gavin Newsom convinced the legislature because Jennifer Siebel Newsom, the wife of the governor, convinced him. The biggest advocate for mental health funding within the K-12 California public schools in the Newsom administration was Mrs. Newsom, according to published accounts.

    In fact, Gavin Newsom created The Office of First Partner so his wife could promote her policy agenda using taxpayer money. Since 2019, Siebel Newsom’s been armed with nearly $5 million and nine staffers within her subdivision of the governor’s office.

    Snip.

    Siebel Newsom spent years laying the ideological groundwork and political infrastructure to support her policy ambitions.

    In 2012, Siebel Newsom founded a nonprofit, The Representation Project, that licenses “gender justice” films and curricula to 5,000 schools in all 50 states. The year Gavin Newsom became governor, the California Board of Education adopted guidance that recommended her films and curriculum be licensed and used in classrooms.

    Policy making in California isn’t magic. Turns out, it’s a carefully thought through process to maximize political power and personal return from public investments.

    Last week, we investigated the sophisticated scheme through which Siebel Newsom’s film and curricula “gender justice” nonprofit, The Representation Project, leverages taxpayer dollars to promote radical ideologies, personally profit, and push the political ambitions of her husband. She brags that 2.6 million students have seen the films nationwide.

    The Representation Project contracts with her for-profit film-production company, Girls Club Entertainment. Since 2012, Siebel Newsom received $1.5 million in salary from the nonprofit. Furthermore, since 2012, the Siebel’s nonprofit paid her for-profit Girls Club $1.6 million to produce films.

    Last month, our investigation broke the story that The Representation Project was not in compliance with the California Charitable Solicitation Act. The organization was not permitted to operate or solicit donations in California most of 2022 – yet spent all last year in operation and fundraising.

    Now, we dig deeper, investigating the $4.8 million “Office of the First Partner” Gavin Newsom established for his wife’s policy work, and how Jennifer Siebel Newsom used her position to impact social and political processes, cashing checks along the way.

    n 2019, Gov. Newsom created an office for his wife as a division within the governor’s executive team. According to a press release “the First Partner and her team will focus on lifting up women and their families, breaking down barriers for our youth, and furthering the cause of gender equity in California.”

    Since inception, Siebel Newsom’s office has received nearly $4.8 million in directed taxpayer funding. The Office of First Partner has grown from seven employees with a budget of $791,000, to nine employees with a budget of $1,166,000 proposed for 2023-2024.

    Snip.

    Parents have complained about the pornographic content in Newsom’s films shown to 11-year-olds (such as an animated, upside-down stripper with tape over breasts) and 15-year-olds (nearly naked women being slapped, handcuffed, and brutalized in images taken from porn sites) — to view images, viewer discretion is advised.

    Editorials have criticized the activities in Newsom’s film The Great American Lie as “emotionally abusive.” The activities ask students to publicly reveal personal information and force commentary on their relative “privilege” and “oppression.”

    So Jennifer Siebel Newsom is using California taxpayer money to propagandize children for radical social justice and transexism.

  • An Australian comedian, YouTuber and Journalist, made videos making fun of Australian politicians and covering their oppressive Flu Manchu lockdown policies. That’s when they started trying to use the state machinery to shut him up. Then they firebombed him.

    Jordan Shanks is an Australian comedian, also know as freindlyjordies, who fell in to doing YouTube videos about Australian politicians and powerful companies over the past few years. Along the way he became a journalist, the only journalist covering some of the things being done by the government and the corporations. Then in November of 2022 his house was firebombed. It was only by chance that he wasn’t in the house at the time.

    And hey, if that sounds too dry, well you kids like Knives Out or whatever. Stick around. It’s a pretty interesting whodunit.

    Most of the Australian press is even more in the bag for the powers-that-be than the US national media is for the Democrats. There were numerous stories, all but ignored by the mainstream. One example, the Premiere of New South Wales was under investigation. That was all but ignored by the press until she resigned. Then there were the antics of her Deputy Premiere, John Barilaro.

    That is the most entertaining — or damaging to powers that be — story friendlyjordies covered.

    As a result of that coverage, the Australian anti-terrorism machinery was directed at Shanks and his employees. Of course that turned out to be a group of Keystone cops, which got their own exposure on freindlyjordies. Along the way he exposed the abuse of the anti-terrorism squad, the relationship between some of the politicians and large corporations and perhaps organized crime. Then in November of the last year, after the lawsuits failed, the anti-terrorism actions failed, and the intimidation failed, someone moved to direct action, and tried to kill him.

  • You may remember my previous post on the army selecting the M5 Next Generation Squad Weapon. So how is that going? Evidently not well.

    On all key technical measures, the Next Generation Squad Weapons program is imploding before Army’s very eyes. The program is on mechanical life support, with its progenitors at the Joint Chiefs obstinately now ramming the program through despite spectacularly failing multiple civilian-sector peer reviews almost immediately upon commercial release.

    Indeed the rifle seems cursed from birth. Even the naming has failed. Army recently allowed a third-party company to scare it off the military designation M5. The re-naming will certainly also help scupper bad public relations growing around ‘XM-5′ search results.

    Civilian testing problems have, or should have, sunk the program already. The XM-5/7 as it turns out fails a single round into a mud test. Given the platform is a piston-driven rifle it now lacks gas, as the M-16 was originally designed, to blow away debris from the eject port. Possibly aiming to avoid long-term health and safety issues associated with rifle gas, Army has selected an operating system less hardy in battlefield environments. A choice understandable in certain respects, however, in the larger scheme the decision presents potentially war-losing cost/benefit analysis.

    Civilian testing, testing Army either never did or is hiding, also only recently demonstrated that the rifle seemingly fails, at point-blank ranges, to meet its base criteria of penetrating Level 4 body armor (unassisted). True, the Army never explicitly set this goal, but it has nonetheless insinuated at every level, from media to Congress, that the rifle will penetrate said armor unassisted. Indeed, that was the entire point of the program. Of course, the rounds can penetrate body armor with Armor Piercing rounds, but so can 7.62x51mm NATO, even 5.56x45mm NATO.

    The fundamental problem with the program is there remains not enough tungsten available from China, as Army knows, to make the goal of making every round armor piercing even remotely feasible. The plan also assumes that the world’s by far largest supplier will have zero problems selling tungsten to America only for it to be shot back at its troops during World War III. Even making steel core penetrators would be exceedingly difficult when the time came, adding layers of complexity and time to the most time-contingent of human endeavors. In any case, most large bullet manufacturers and even Army pre-program have moved to tungsten penetrators for a reason, despite the fact it increases the cost by an order of magnitude and supply seems troubled. Perhaps Army has a solution, perhaps.

    The slight increase in ballistic coefficiency between the 6.8x51mm and 7.62x51mm cartridges neither justified the money pumped into the program nor does the slight increase in kinetic energy dumped on target. Itself a simple function of case pressurization within the bastardized 7.62mm case. Thus the net mechanical results of the program design-wise is a rifle still chambered in a 7.62×51 mm NATO base case (as the M-14), enjoying now two ways to charge the weapon and a folding stock. This is the limit of the touted generational design ‘leap’ under the program. And while the increased case pressure technology is very welcome the problem is, in terms of ballistics, the round is in no way a leap ahead compared to existing off-the-shelf options as those Army nearly went with under the now disavowed Interim Combat Service Rifle program, or it in fact did purchase schizophrenically just before the NGSW program began with the HK M110A1.

    The Army is evidently still moving ahead with the program.

    I can’t tell you whether the criticisms are true or not unless Sig Saur sends me a example to shoot. While that would be cool, I suspect it’s pretty unlikely, and I fear many test ranges have picayune policies against using military grade automatic weapons…

  • How Georgetown Law cracked down on Flu manchu mandate heretics.

    For questioning Covid restrictions, Georgetown Law suspended me from campus, forced me to undergo a psychiatric evaluation, required me to waive my right to medical confidentiality, and threatened to report me to state bar associations.

    The Dean of Students claimed that I posed a “risk to the public health” of the University, but I quickly learned that my crime had been heretical, not medical.

    Just before I entered Georgetown Law in August 2019, I watched The Paper Chase, a 1973 film about a first-year Harvard Law student and his experiences with a demanding professor, Charles Kingsfield.

    The movie has the standard themes of law school: teaching students how to think, challenging the premises of an argument, differentiating fact patterns to support precedent. Kingsfield’s demands represent the difficulty of law school, and the most important skill is articulate, logic-based communication. “Nobody inhibits you from expressing yourself,” he scolds one student.

    “Nobody inhibits you from expressing yourself.”

    Two years later, I realized that Georgetown Law had inverted that script. The school fired a professor for commenting on differences in achievement between racial groups, slandered faculty members for deviating from university group-think, and threatened to destroy dissidents. Students banished cabinet officials from campus and demanded censorship of a tenured professor for her work defending women’s rights in Muslim-majority countries.

    Unaware of the paradigm shift, I thought it was proper to ask questions about Georgetown’s Covid policies.

    In August 2021, Georgetown Law returned to in-person learning after 17 months of virtual learning. The school announced a series of new policies for the school year: there was a vaccine requirement (later to be supplemented with booster mandates), students were required to wear masks on campus, and drinking water was banned in the classroom.

    Dean Bill Treanor announced a new anonymous hotline called “Law Compliance” for community members to report dissidents who dared to quench their thirst or free their vaccinated nostrils.

    Meanwhile, faculty members were exempt from the requirement, though the school never explained what factors caused their heightened powers of immunity.

    Shortly thereafter, I received a notification from “Law Compliance” that I had been “identified as non-compliant” for “letting the mask fall beneath [my] nose.” I had a meeting with Dean of Students Mitch Bailin to discuss my insubordination, and I tried to voice my concerns about the irrationality of the school’s policies.

    He had no answers to my simple questions but assured me that he “understood my frustration.” Then, he encouraged me to “get involved in the conversation,” telling me there was a Student Bar Association meeting set to take place the following Wednesday.

    I arrived at the meeting with curiosity. I had no interest in banging my fists and causing a commotion; I just wanted to know the reasoning – the “rational basis” that law schools so often discuss – behind our school’s policies. There were four simple questions:

  • What was the goal of the school’s Covid policy? (Zero Covid? Flatten the curve?)
  • What was the limiting principle to that goal? (What were the tradeoffs?)
  • What metrics would the community need to reach for the school to remove its mask mandate?
  • How can you explain the contradictions in your policies? For example, how could the virus be so dangerous that we could not take a sip of water but safe enough that we were required to be present? Why are faculty exempt from masking requirements?
  • I feared there were simple answers to my questions that I had overlooked: these administrators made hundreds of thousands of dollars per year, surely they must have had some reasoning behind their draconian measures. Right? The contradictions appeared obvious to me. The data seemed to be clear, but maybe there was an explanation.

    I delivered the brief speech without a mask, standing fifteen feet away from the nearest person. I awaited a response to my questions, but I realized this wasn’t about facts or data, premises or conclusions. This was about power and image.

    Arbitrary. Irrational. Capricious. Students learn in their first days of their legal education to invoke these words to challenge unfavored laws and policies. I figured that I was doing the same, and I thought the school would welcome a calm, albeit defiant, student asking the questions rather than loud and angry crowds.

    But this assumption turned out to be an incorrect premise. Nobody cared about my points regarding rationality – they cared that I had been reading from the wrong script. Even worse, not wearing a mask had been a more objectionable wardrobe malfunction than Janet Jackson’s Super Bowl performance.

    (Hat tip: Sarah Hoyt at Instapundit.)

  • Scrapped Railway Project Could Derail Putin’s Arctic Ambitions.

    Moscow’s ability to develop its own resource-based economy, expand the Northern Sea Route, cement ties with China and support Vladimir Putin’s ambitions to project power into the Arctic depends on the development of land-based infrastructure in the northern regions of the Russian Federation…

    Yet, that ability has now been called into question, as the Russian government has canceled, despite Putin’s repeated orders to the contrary, a program to complete the broad-gauge Northern Broad-Gauge Railway. The route was intended to link settlements that support the Northern Sea Route, military bases and the locations of key sources of raw materials across the Russian North with the rest of the country…

    Snip.

    What appears to be this project’s death knell, at least for the time being, is instructive in its own right. It occurred not with some dramatic single action by the Kremlin but in a rolling fashion as has often been the case with the backtracking of decisions under Putin. In April 2021, to much acclaim, the Russian president called for construction of the Northern Broad-Gauge Railway to begin, with the goal of completing the project in the next few years. Yet, despite Putin’s words, nothing happened, at least in part because of the COVID-19 pandemic, increased spending for his war against Ukraine and the impact of Western sanctions. Then, in 2022, Putin issued a new order for the project to go ahead. Again, nothing happened. Instead, less than a month later, Marat Khusnullin, a Russian deputy prime minister, quietly stopped all work on the project without giving anyone reason to think it would be resumed. Indeed, many Russian experts and commentators concerned with infrastructure issues believe that this railway plan has come to the end of its line, and one has even suggested that the cancellation of this project puts “a cross on the future of Russia.

    Russia was broke before it launched its illegal war of territorial aggression against the Ukraine. Now it’s even more broke.

  • Turns out I got through all but one…

    Something About Credit Suisse

    Saturday, March 18th, 2023

    I meant to mention something about the Credit Suisse situation in Friday’s LinkSwarm but ran out of time. I’m not an expert on European banking in general or Swiss banking in specific. (As opposed to being a squinty, one-eyed, myopic man in the land of the blind sort of expert on American banking, which is not very.) But it’s a big story, so I suppose I should post something about Credit Suisse.

    So here’s something.

  • First, as of this writing, it appears that fellow Swiss bank UBS is about to take over Credit Suisse, probably with the financial backing of the Swiss National Bank (SNB)

    Late on Thursday, just hours after the SNB had launched the first (of many) bailout attempts of Swiss banking giant Credit Suisse, Bloomberg blasted the following headline:

    *UBS, CREDIT SUISSE SAID TO OPPOSE IDEA OF A FORCED COMBINATION

    This lack of enthusiasm by UBS to acquire its struggling rival of course forced the Swiss National Bank to front CS a CHF50 billion credit line to hold it over for the next four days amid a furious bank run, one which we said would be woefully insufficient to restore confidence in the collapsing lender, and which we probably used up in just a few hours.

    Then, late on Friday, both banks “unexpectedly” changed their minds and we got the following 180 degree U-Turn report from the FT:

    *UBS IN TALKS TO ACQUIRE ALL OR PART OF CREDIT SUISSE: FT

    So a deal is inevitable after all… but as always, there is a footnote one which we predicted yesterday when we said that a deal would only happen if the acquiring bank – in this case UBS – got a full central bank backstop.

    That now appears to be the case with Bloomberg, Reuters and the WSJ all reporting that UBS is asking the Swiss government for a backstop to cover future risks if it were to buy Credit Suisse Group AG, after the Swiss National Bank and regulator Finma have told international counterparts that they regard a deal with UBS as the only option to arrest a collapse in confidence in Credit Suisse. The FT reported that deposit outflows from the bank topped CHF10bn ($10.8bn) a day late last week as fears for its health mounted.

  • Here’s Patrick Boyle on how Credit Suisse brought itself low:

    One big take-away: It wasn’t bad investments per se that wrecked confidence in the bank, it was involvement in a series of scandals, as they have “a strong, liquid balance sheet.” “Credit Suisse has instead been plagued by repeated scandals. From spying on a former employee, a criminal conviction for allowing drug dealers to launder money, a massive leak of client data to the media, Archegos, Greensill, Mozambique ‘tuna bonds,’ the list is too long.”

    Wait, Mozambique Tuna Bonds? Yeah, it’s a real scandal.

    UK courts are at the heart of a spate of litigation arising out of the Mozambique “Tuna bond” or “hidden debt” scandal. The scandal involved $2 billion of bank loans and bond issues from Swiss bank Credit Suisse and Russian bank VTB. The bank loans were taken out in secret by Mozambican state-owned companies, without the legally required approval of the Mozambique Parliament and backed with hidden government guarantees.

    The loans were intended to finance contracts between the state companies and a Lebanese-UAE based ship builder, Privinvest, between 2013-2016 for three maritime projects. These projects were intended to boost maritime security and develop the country’s fishing industry. However, a 2017 audit by Kroll found that $500 million of loans could not be accounted for and that Privinvest may have over-inflated prices by $713 million. The audit also found that $200 million of the loans were spent on bank fees and commissions.

    So it turns out that Mozambique’s political and business elites are at least as corrupt as our own political and business elites.

    Good to know.

    Ironically, according to Boyle, the reason European banks may be in better shape than our own is because they had to deal with the fallout of the Euro crisis. “This is not because European banks are very good — it is precisely because they have historically been quite bad.”

    Practically every banking regulation in existence commemorates a time when things went badly wrong, and Europe spent a decade toughening up banking regulation because it went through a rolling multiyear euro crisis. The European regulators have a detailed set of standards for testing interest rate risk, with the idea that they will be applied to every significant bank in Europe. Unrealized losses are not ignored under this regime and the global Basel standards on stable funding are applied across the entire banking sector. This is quite different to the regulations applied to community banks in the United States who lobbied the government for regulatory exemptions over the years.

    “The economist Matthew Klein argued in a blog post that banks today can be seen as speculative investment funds grafted on top of critical infrastructure, and that this structure is designed to extract subsidies from the rest of society by threatening civilians with crises if the banks’ bets are ever allowed to fail.”

  • Was Credit Suisse infected with the radical transexual social justice warrior madness as the rest of our elites? Of course they were:

    

    (Hat tip: Stephen Green at Instapundit.)

  • Finally, it’s a chance to embed the Swiss Banker Song from Making Fiends.

    LinkSwarm For March 17, 2023

    Friday, March 17th, 2023

    Another packed week with no time for a big LinkSwarm!

  • “Biden Family Members Paid by Chinese Firm with Ties to CCP.”

    A Chinese company based out of Hong Kong which paid at least $3 million to several members of the Biden family has since been revealed to have ties with the ruling Chinese Communist Party (CCP).

    According to the Daily Caller, State Energy HK Limited sent $3 million via wire transfer to Robinson Walker LLC, a company run by an associate of the Biden family named John Robinson Walker. The wire transfer took place in March of 2017, shortly after Joe Biden’s term as Vice President came to an end, according to a report released on Thursday by the House Oversight Committee.

    One of the direct subsidiaries of State Energy HK is State Energy Group International Assets Holdings Limited (SEIAH). At the time of the wire transfer, SEIAH’s chairman was Ren Qingxin, who previously worked for the CCP as a representative at a business organization.

    Shortly after the $3 million transfer, Ren was succeeded in his leadership position by Lei Donghui, who had been a member of the CCP since 2002, where he served as Secretary General of the International Engineering Business Bureau of China State Construction (CSC). CSC has since been designated by the Department of Defense as a “Communist China military company.”

    Subsequently, the $3 million sent to Robinson Walker was then transferred to four different members of the Biden family: Joe Biden’s son Hunter, brother James, daughter-in-law Hallie, and a fourth unidentified family member, the Oversight Committee reports. The transfers were sent in several transactions, both to the family members directly and to several of their companies, including Owasco PC, JBBSR Inc, and RSTP II, LLC.

    The previously-unknown involvement of Hallie – the widow of Biden’s elder son Beau, who later became Hunter’s girlfriend after Beau’s death – has proven to be one of the biggest bombshells yet in the GOP’s investigations into Biden family corruption.

  • Arrest Warrant Issued For President Putin By Hague-Based ICC.” Maybe ICC can hire Dog the Bounty Hunter…
  • Truth:

    (Hat tip: Not The Bee.)

  • DeSantis administration revokes Hyatt Regency Miami alcohol license after it hosted “A Drag Queen Christmas” in front of children.
  • Dutch Farmer’s Party poised to win 16 or 17 seats in parliament thanks to opposing that country’s mad global warming anti-meat mandates. “The Boer-Burger Beweging (BBB), or Farmer-Citizen Movement, is set to become the largest party in the country’s senate, winning more seats than Prime Minister Mark Rutte’s ruling conservative VVD party.”
  • Baltimore Democrats want to decriminalize murder for anyone under age 25. Evidently they’re jealous that New Orleans took their crown as murder capital…

  • Red Guards come to Maine. “Kristen Day said students affiliated with one of RSU 14’s Civil Rights Teams harassed her daughter. When her daughter refused to speak about her sexuality, two students affiliated with the club began to bully her and call her homophobic.” (Hat tip: Stephen Green at Instapundit.)
  • Oklahoma State Rep. Regina Goodwin: “‘DEI’ as in ‘deity.’ Diversity, Equity, and Inclusion is god!”
  • Roy McGrath, the ex-Chief of Staff for former Maryland Governor Larry Hogan, is evidently still on the run after an indictment on wire fraud charges. (Hat tip: Dwight.)
  • Eric Weinstein on Joe Rogan about what really happened with Kayne West. He suggests that West’s Hitler comments were simply him trying to channel Thomas à Kempis.
  • Tiger Woods’ girlfriend is told to pack for a short vacation…at which point he locks her out of his mansion and said she’s not allowed to return. Cold. Also effective.

    Cue up the Bill Burr rant about “gold digging whores.”

  • The first rule of cemetery machete fight club is you don’t talk about cemetery machete fight club. The second rule is you don’t drive over the headstones.
  • Man lives in a tiny house in a dumpster in London. Sadly, his name’s not Oscar.
  • Cockatootle doo.
  • The Nightmare Before St. Patrick’s Day.
  • More On How SVB Screwed The Pooch

    Thursday, March 16th, 2023

    I wasn’t planning on writing more about the collapse of Silicon Valley Bank, but too much info has been coming down the pike to ignore. Plus, I found the video below, and felt I had to share it.

    First up: Silicon Valley Bank donated nearly $74 million to #BlackLivesMatter and associated causes.

    A newly published database from the Claremont Institute has revealed that the since-collapsed Silicon Valley Bank donated or pledged to donate nearly $74 million to the Black Lives Matter movement and related causes.

    In an August 2020 Diversity, Equity & Inclusion report, SVB declared “we are on a journey committed to increasing diversity, equity and inclusion (DEI) in our workplace, with our partners and across the innovation economy.”

    The bank revealed that they had donated $1.6 million to “causes supporting gender parity in innovation,” as well as $1.2 million to support “opportunities for diverse, emerging talent in innovation.”

    In SVB’s 2021 Proxy Statement, the bank wrote in relation to racial and social equity that “the calls to end systemic racial and social inequities following the murder of George Floyd in May 2020 had a profound global impact.”

    “We responded by expanding opportunities for dialogue, including hosting over 40 small group ‘Conversation Circles’ in which over two thirds of our employees participated in discussions about racial equity issues.”

    The statement continued to say that the bank’s “DEI-focused ‘town hall’ meetings for employees were in response to our recognition of the need for greater transparency and dialogue around the racial representation of our workforce and the innovation ecosystem.”

    In addition, the bank, provided “opportunities for action, mobilizing our employees and clients to join in community service through Tech Gives Back, a week of volunteer events focused in part on racial equity, social justice and access to the innovation economy,” and partnered with “Act One Ventures to launch The Diversity Term Sheet Rider for Representation at the Cap Table initiative, which advocates for venture capital firms to include in all of their term sheets a pledge to bring members of underrepresented groups into deals as co-investors.”

    A 2020 letter from CEO Greg Becker stated, “In recent months, we’ve expanded our philanthropic giving through corporate donations and employee matching programs. These programs focus on pandemic response, social justice, sustainability and supporting women, Black and Latinx emerging talent and other underrepresented groups. You’ll find examples of these programs in this report, ranging from workforce development to affordable housing.”

    In 2020, the bank launched its Missions program, “a software platform designed to engage employees to act in support of the causes they care about most such as voter education and racial justice and equity,” which saw employees donate $400,000 for “justice and equity for Black Americans.”

    According to the Claremont Institute, an additional $250,000 was allocated by the SVB Foundation to support grants for social justice organizations including the NAACP, ACLU, and National Urban League.

    SVB additionally partnered with 44 organizations focused on furthering DEI in innovation and invested in relationships with historically black colleges and universities, and hosted internships and provided tuition assistance for students from “underserved communities.”

    In a Corporate Responsibility Report from 2021, SVB pledged to donate $50M in its diversity and inclusion programs and partnerships, “with a focus on women, Black and Latinx individuals.”

    In May of 2021, SVB announced a proposed five-year, $11.2 billion community benefits plan in collaboration with The Greenlining Institute, an M4BL, or Movement For Black Lives, member. The Claremont Institute wrote that “that plan includes $75M in unspecified charitable contributions (also not included in our total).”

    Social Justice is bad enough by itself, but it’s also a marker for those incapable of thinking clearly enough to focus clearly on their main jobs.

    And now this video, which slams “Stupid Valley Bank” for its egregious stupidity and slams It’s Pat, which is these days is almost like a Hispster move (“It’s a pretty obscure bad movie, you’ve probably never heard of it”).

    He also thinks the crisis is just beginning…

    SVB: “An Extinction Event For Startups”

    Sunday, March 12th, 2023

    The more I hear about the Silicon Valley Bank collapse mentioned in Friday’s LinkSwarm, the worse it sounds.

    I saw a snippet of Gary Tan, CEO of startup fund Y Combinator, talking about how bad it is. I can’t find a video of the full interview online, but evidently it was excerpted on Bannon’s War Room podcast and there’s a transcript.

    [Interviewer]: How many of these startups that have been through Y Combinator, for example, have their cash tied up at Silicon Valley Bank? And over this weekend, I’m gonna try to figure out how they’re gonna make payroll next week. Do they have to go to investors and say, can you front me some cash so that we can stay alive?

    [Tan]: We have funded about 3,000 active startups right now. I would guess that this affects more than 1,000 startups. And about a third of those startups will not be able to make payroll in the next 30 days in the current configuration. As of this morning, RIPLING, which many startups use to manage payroll and benefits, transfers were not being processed by SVB for payroll.

    And so that’s a really existential threat for companies broadly. These are founders who are texting me and calling me saying, do I need to furlough my workers next week? Because I do not have other bank accounts, you know, a Google or a Facebook or even companies farther along with a Treasury Department. They’re going to be able to weather this, but if SVB is your only bank, it’s actually an existential risk. You’re going to go out of business if you can’t pay payroll. And that starts Monday.

    That transcript also has this sobering figure: “97% of the deposits at Silicon Valley Bank. 97% are not insured by FDIC because they’re in accounts over $250,000. These company accounts that would be $169 billion.”

    So what was Silicon Valley Bank doing rather than properly managing their risk profile? Banks have Chief Risk Officers whose job is to make sure their risk exposure ratios don’t get out of whack. Well, guess what? SVB didn’t have one for some nine months. “SVB’s former head of risk, Laura Izurieta, who formerly performed a similar role for Capital One, left the bank in April 2022. She wasn’t replaced until January 2023 when the bank hired Kim Olson, formerly of Japanese bank Sumitomo Mitsui.”

    But don’t worry: SVB had CRO for the bank in Europe, Africa and the Middle East who was entirely focused…on Social Justice and ESG.

    Jay Ersapah, who acts as CRO for the bank in Europe, Africa and the Middle East and who describes herself as a ‘queer person of color from a working-class background’ – organized a host of LGBTQ initiatives including a month-long Pride campaign and implemented ‘safe space’ catch-ups for staff.

    In a corporate video published just nine months ago, she said she ‘could not be prouder’ to work for SVB serving ‘underrepresented entrepreneurs.’

    Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader.

    ‘Jay is a leading figure for the bank’s awareness activities including being a panelist at the SVB’s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB’s EMEA Pride townhall and was instrumental in initiating the organization’s first ever global “safe space catch-up”, supporting employees in sharing their experiences of coming out,’ her bio on the Outstanding website states.

    It adds that she is ‘allies’ with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness.

    These included ‘Lesbian Visibility Day and Trans Awareness week.’

    Separately she was also praised in a Facebook post by the group ‘Diversity Role Models,’ a charity which campaigns against homophobic, biphobic and transphobic bullying in UK schools.

    Being in Silicon Valley, I’m betting that the entire company was whole hog backing DEI, ESG, Transwhatever and the entire rainbow of victimhood identity politics acronyms.

    In a strong economy, you can get away with a bit of shareholder-value-destroying, virtue-signaling luxury goods as long as your core business is strong. But with rising interest rates, Biden Inflation, the Biden Recession and the gale winds of deglobalization, taking your eye off the ball to focus on anti-reality SJW garbage is a recipe for disaster.

    And all the startups that relied on SVB for their banking are well and truly screwed.

    Update: Uncle Sugar is evidently going to make all depositors whole at both SVB and newly insolvent Signature Bank. This relatively early intervention may indeed be the best move to prevent bank runs at other institutions, and may reflect a change in philosophy since 2008. (It’s a thorny subject.) But it does make me think that a lot of well-connected depositors were screaming in the ears of Washington to be made whole at the taxpayer’s expense. What do you think the odds are that the same consideration wouldn’t be given to, say, a Texas bank that specialized in underwriting oil and gas ventures?