Swiss bank UBS trader Kweku Adoboli (left) was arrested early Thursday morning and charged with two counts of false accounting and one count of “suspicion of fraud by abuse of position.” His position was director of the Delta One trading desk at UBS in London, where he had worked as a trader for the past three years and as a technical advisor for two years before that.
If the European Union begins to disintegrate, what signs would portend its spiral into disunion? One would be a member nation utterly ignoring the financial rules intended to support the EU by providing false and misleading information about its economy — actions already undertaken by both Greece and Portugal. Another indication of impending EU disintegration would be a member state simply printing its own euros — after only technically meeting the requirement of notification — as did Ireland a few months ago.
The communist Chinese regime was, at the very least, plotting to covertly arm Libyan dictator Muammar Gaddafi in violation of United Nations sanctions as recently as late July, documents discovered in Tripoli suggest. And despite official denials, analysts and rebel leaders said Beijing had actually delivered some of the weapons stockpiles.
The United Nations Security Council is considering a resolution to establish a UN mission in Libya, unfreeze assets of two major oil companies and repeal a ban on flights by Libyan aircraft. Great Britain was circulating a draft of the resolution among the 15 member nations of the Security Council Tuesday night and is hoping for a vote on it by the end of this week, the Associated Press reported on Wednesday.
NATO and U.S.-backed rebel forces in Libya are reportedly engaging in systematic attacks against the black population in what some analysts have called war crimes and even genocide, sparking condemnation worldwide from human-rights groups and officials.
In a shocking ruling by a Canadian appeal court, a woman who strangled her son with her underwear after secretly giving birth to him will face no jail time because the judge determined that her actions were no different from an abortion.
In an effort touted as one to reduce tensions with the rest of the world, Iran has pledged to release two Americans held hostage in the country. The announcement comes just as Iranian President Ahmadinejad plans to visit the United Nations in New York to discuss nuclear talks.
Pro-life leaders in Poland remain optimistic despite the narrow defeat of a bill that would have completely banned abortion in the largely Catholic nation. The historic bill, the result of a nationwide grassroots campaign that garnered 600,000 petition signatures in support of the law in two weeks, was narrowly defeated in late August in Poland’s parliament by a 191-186 vote, with five abstentions and 78 lawmakers not present for the vote, according to LifeSiteNews.com.
Prime Minister George Papandreou’s speech on Saturday evening in Thessaloniki was designed to reassure not only his Greek citizens that all would be well but also that those holding Greek sovereign debt would be getting their money back. The government’s top priority, he said, is “to save the country from bankruptcy.”
Collectivist statists from America to southern Europe are singing a familiar tune: The private sector is to blame for the economic nightmare that they have created. The Obama administration began complaining that businesses with cash were not instantly using that cash to hire employees, whether market conditions made that a prudent decision or not. Now the Greek government is issuing more bonds and, according to the condition of their second proposed bailout by the European Union, is being required to convince private investors to acquire the vast majority of the new debt of the Greek government.