Wednesday, August 10, 2011

Delta State Criminal Investment in OFN

The Delta state government claims it was spending N3 billion for a "joint venture" with Obasanjo's Farm in Otta, but it cannot provide decent classrooms for its pupils.

These photos were taken recently at Oviore primary school in Delta state. The classrooms looks like poultry pens.

Photos courtesy of Liberate-Delta's Peoples Movement

Delta State Revenue since 2007 ?? =N=464 billion (i.e. $3.75 bn)

26. State Gov’t

415,409,908,477.29 – 1999 -2007

201,080,763,425.32 - 2008

91,878,569,772.83 – 2009

171 800 000 000  - 2010-11 Estimate

PHOTONEWS: The State Of Education In Delta State: Primary Schools As Poultry Pens

Posted: August 9, 2011 - 17:21

Tuesday, August 09, 2011

S&P Madness...

I have to say I have been thoroughly enjoying the pouring down on S&P- the world's policeman of debt issued who cannot police itself. Can you imagine what arrogance? Who even made these rating guys lord of manors. My best read are or quotes are these:

 S&P commenting on US credit is 'like the Catholic church lecturing scout leaders on proper behavior towards boys"

"These guys personify amateur hour."

"They've shown a stunning lack of knowledge about basic U.S. fiscal budget math," said Treasury Secretary Tim Geithner.

he decision "smacked of an institution starting with a conclusion and shaping any arguments to fit it" declared Gene Sperling, a top White House economics adviser

President Obama appears to agree. "No matter what some agency may say, we've always been and always will be a AAA country,"

Here is my take, in an humble email to a friend whose permission I have to share...which is totally imaginary based on these backlash of reactions from government and government connected agents: 

I believe the CIA is now working on organizing coordinated attacks on the company that will render S&P insolvent in the next year (think lawsuits, security attacks on IT systems, disappearing revenue due to blackmail and scared clients) and mean the only company that downgraded the USA will be bankrupt next year and gone with the wind (alongside its rating and the thrash book on which it was written). Come think of it, it is Democrats fault that S&P can write this nonsense. Why are these rating agencies still in business after the faux pas of 2008? Shouldn't they now be subjects of multitude lawsuits, multiple DOJ investigations as well as outright ban on their monopoly. Blackrock does more serious credit analysis that Moodys, S&P and Fitch added together anyway!
Folks, for serious credit ratings visit . Just in case you don't know I'm in the rating business too! LOL
Now you know folks..please patronize me! 


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