 |
|
Reconcile Fake Olympic Debt with B.C. Pension Fund RECONCILE $7+ billion of fake Olympic debt with $80- billion of public pension fund and insurance assets in custody of U.K.-based RBC-Dexia. Stop debt fraud by law firm, hedge fund and private equity groups. Use online balance sheet to control tax and spend. Reform notes that the Sidley Austin law firm and the newly-bankrupt KPMG Consulting have been selling fake real-estate and Olympic debt through a Fortress Investment hedge fund to “sophisticated institutional investors” which face a growing risk of a pension fund default. Sidley’s hedge-fund victims include the British Columbia Investment Management Corporation (bcIMC), the Ontario Teachers' Pension Plan and the Caisse de dépôt et placement du Québec which together may have lost $100 billion from Sidley loan fraud. Sidley founded Fortress in 1998, arranged its IPO in February 2007 and used it as one of a number of front companies or private equity groups to sell fake debt to bcIMC partners and finance the Vancouver 2010 Olympic bid and related projects, for example: A $750 million mortgage to finance the Southeast False Creek Olympic Village. An estimated $2.05 billion of debt to bcIMC and the Caisse to finance the construction of the Canada Line, the rapid transit rail project to connect Richmond, the Vancouver International Airport and down-town Vancouver (known as “RAV” for short). An estimated $2.8 billion, including existing debt to purchase Intrawest assets including the ski resorts of Whistler, Blackcomb and Panorama. Sidley appears to have tricked Lehman Brothers into underwriting a fraudulent collateralized debt obligation (‘CDO’) for the Intrawest purchase and forced the 150 year old firm into bankruptcy. An estimated $900 million of debt to finance Vancouver 2010 Olympic security measures including Cisco Systems’ Internet Protocol (IP) video network infrastructure needed by NBC Studios to perform shot selections on files of filmed events and Sidley hedge fund managers to adjust insurance on loans, lives and property of possible targets of terrorist attacks witnessed in the 1972 Munich snuff films. Reform research shows that Sidley pioneered the sale of fake debt in the late ‘70s with sub-prime RMBS (residential mortgage-backed securities) and CMBS (commercial mortgage-backed securities). In February 2009, KPMG Consulting (now BearingPoint), Sidley’s partner in the sale of abusive fake debt and tax shelters went bankrupt leaving Sidley in sole control. Sidley is maintaining the sale of fake Olympic debt for Vancouver 2010, using Cisco networks as an electronic backdoor into terrified or corrupted officials inside the BC Office of the Premier and the Debt Management Branch of the Provincial Treasury. Sidley has contrived a collapse of the capital markets and is accelerating backdoor sales of fake debt as ‘stimulus’ bonds to crash the economy and strip the B.C. pension funds. A Reform government will close that backdoor with an online balance sheet in the custody of the Legislature.
Information on Reform Party of B.C. "Clarity, Equity and One Set of Books!" Fair Tax - Payroll Credit - No Odious Debt  www.reformbc.net Authorized by Ross Eccles, financial agent, |
| N e w s |
| E v e n t s |
| A b o u t |
| B o a r d |
| D o c s |
| L i n k s |
| H o m e |