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The Lebanese Bernie Madoff
My hosts here in Beirut have written and photographed the best English-language account thus far of Salah Ezzedine, the man being described as the Lebanese Bernie Madoff.
Although the scandal is not likely to affect Lebanon’s broader economy, it could create real problems in the Shiite community, where some major real estate owners and businessmen went into debt to finance their investments. The full extent of the alleged swindle remains unclear, but the judicial official said the amount lost appeared to be at least $700 million, and possibly more than $1 billion.
No kidding, this is a serious development. Shia in Lebanon invested in Ezzedine in part because he was perceived as being close to Hizballah. Now many of Hizballah's supporters have been hit hard by this swindler, and it doesn't just mean embarassment for Hizballah. It will also means a hit to their donations and finances.
good damned deal Hizballah
good damned deal Hizballah needs to go the hell away anyhow. They are one of the most brutal terrorist groups in the ME
How much $ did you lose,
How much $ did you lose, Exum? You sound broken-hearted.
Ohio State and UNC, I
Ohio State and UNC, I believe, are both really good for military history.Whatever, we'll just bail
Whatever, we'll just bail out Lebanon via HHS contracts to Lebanese biowarfare firms:
Lebanese CEO sees opportunity in current crisis
Fri, Jul 07 2009
Emergent BioSolutions Inc. Chairman and CEO Fouad El Hibri insists that good business opportunities often arise in time of crisis, which he considers the best time for entrepreneurs to invest in new projects. “When the market is down, I believe that good opportunities arise and investors have better chances to find assets that are undervalued and able to provide wonderful returns in the future,” Hibri told The Daily Star.
“I see within any turmoil great opportunities,” he said.
(background)
"September 2006 07:04 - Emergent BioSolutions has announced that it has been awarded two grants from the National Institute of Allergy and Infectious Diseases (NIAID) totaling $3.8 million to support the development of the company's anthrax immune globulin (AIG) therapeutic product."
June 2009 - "The Rockville-based company’s BioThrax has been granted a shelf life extension from the Food and Drug Administration from its current three years to four. Under its contract with the Department of Health and Human Services, the extension triggers a milestone payment of $30 million for doses of the vaccine already delivered to the Strategic National Stockpile. Emergent expects to record that payment as revenue this quarter." - WSJ
When the economy collapses, it's the government's job to step in and bailout the billionaires by any means necessary.
If there was an anthrax
If there was an anthrax scare and someone tried to inject you with something called "BioThrax" and you shot them, I'd let you off.
Somalia: Harakat al-Shabab
Somalia: Harakat al-Shabab al-Mujahideen Announce Martyrdom of al-Qa'ida Liaison Salah 'Ali Salah al-Nabhan
You were staying with the
You were staying with the writer and photographer? I don't know AM, this Middle East journo/expert crowd is getting incestuous.
How did Denton get that job anyway, isn't he only 17
I agree with your point,
I agree with your point, please share with us more good articles.1988 Buick Century AC Compressor
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