It now appears to me that the so-called "Tech Bubble' was nothing more than a scheme to access enough of other peoples money to finance the takeover of global telecommunications, media, information and news reporting.
With all the major information systems contolled by a defacto cartel, all partners through stock and bond holdings of each others companies, a very manipulative form of social engineering has been put into motion.
News reporting that exposes or contradicts the cartel's self serving economic and political agenda is squelched. Viewer attention is diverted toward a focused viewpoint that is politically expediant, enabling the cartel to expand it's sphere of influence without regulatory interference.
Rudolph Murdoch of News Corp., Fox, Sky, and reportedly, John Malone's partner in satellite venture, Wild Blue as well as News Corp., is reported to have quoted,
"There's no law against slanting the news."
Retirement funds were drained, individual investor's stock was taken and given to corporate stock/bondholders, and partnerships arranged in such a complicated manner as to befuddle regulators.
Competitors were mysteriously outed for "cooking the books", yet the same sort of machinations by the cartel were never investigated.
Interestingly, Arthur Andersen, now called Accenture, as auditor for cartel member companies, as well as their competition, like MCI/Worldcom, was privy to the inner workings of both.
Companies "overstated" their earnings to keep the investment stream flowing into their coffers, affording them expansion capital. Brokerage houses and even auditors, quietly dumped their stock while they continued preaching sell to investors.
When the bottom conveniently fell out, they were well clear of danger and stood poised like vultures to scoop up the now nearly worthless stock for pennies on the dollar.
They call it convergence... the bringing together of diverse technologies.
What it really is concentration... of all the world's major communications systems in the hands of a cartel. All partners, all agreed on the split of the global territory.
Even though the monetary figure of the stock value seemed worthless, the companies that had been created and merged were certainly not worthless.
They are the backbone and content of the World's information infrastructure.
The important differnce, is that they are no longer regional rival companies, having to produce a better product to compete, but partners with a virtual monopoly.
They then defaulted on Billions of Dollars in loans.
The result is that the Global Economy has tanked and a handful of people and their companies now control the bulk of the lines of communication.
There are Global repercussions. As the western economy falters, the rest of the World plummets. People living on the edge fall over. Fear erupts in hatred and violence because people lose hope.
The Billionaire's Club doesn't understand, or care about what working people are having to deal with.
They have never had to go without... without food, without medical or dental care or a roof over their heads, and there is no threat of it, ever.
They consider us rabble, a necessary nuisance of easily led "consumers".
When their power games of oneupmanship are directed at poor people like us, instead of against their Billionaire competitors, the effects on us are devastating.
It's just business as usual for The Club.
So. Who went bargain shopping on your dollar, or moved stock into a partner's or subsidiaries hands to distance themselves because of snoopy regulators or the desire to enter a market that their holdings would put them in an obviously monoplistic position?
Who, in particular. had their fingers in Telewest and it's particular down-driven stock for Billions in Debt deal, that's so fashionable with billionaires these days, and somehow so baffling to regulators that the concept of oversight is a quaint notion?
Here are a few of those invested in the "Tech Bubble" consolidation.
Gleaned from the Forbes World's Richest, listed by their order of richness in Billions of Dollars.
This is dated info... I'm sure they're Much Richer, now.
1. Gates, William III, Washington, 47, $40.7, Microsoft, Telewest, AT&T
2. Buffett, Warren, Nebraska, 72, $30.5, Level 3
4. Allen, Paul, Washington, 50, $20.1, Microsoft
5. Alsaud, Prince Alaweed Bin Talal, Saudi Arabia, 46, $17.7, AT&T
16. Ballmer, Steven, Washington, 46, $11.1, Microsoft
18. Anthony, Barbara Cox, Hawaii, 79, $10.3, Cox, Telewest
18. Chambers, Anne Cox, Georgia, 83, $10.3, Cox, Telewest
24. Dell, Michael, Texas, 38, $9.8, Dell , Servers for Telewest
54. Murdoch, Rupert, New York, 72, $5.5, News Corp, Sky, Fox, Direct TV
278. Malone, John, Colorado, 62, $1.5, Liberty Media, Telewest, UPC, Wild Blue, AT&T, TCI, News Corp.
Then there's Bill Huff of W.R. Huff Asset Management, LLC, who may be an even bigger Telewest bondholder than John Malone, according to recent news reports.
It looks like Huff's been outed as a key figure in the bond for equity deals that have left Telewest stockholders holding an empty bag, and Huff receiving stock for pennies on the dollar.
He'll have a lot of say in the proposed takeover/merger of NTL by Telewest, because he's also a large bondholder at NTL.
Hopefully, the SEC will take a long hard look
Telewest's Charles Burdick, who took the ball after CEO Adam Singer took his Golden Parachute and floated over to OFCOM, to regulate Telewest, recently claimed that Telewest will be PROFITABLE this year!
Well shucks, I guess that if I didn't have to pay my bills, I'd be doing a mite better as well.
Burdick, appointed by a Board of Directors dominated by Microsoft and Liberty Media employees, pushed through the cancelling of the average Joe Shareholders stock and the bond for equity sheme, despite a vote of no confidence by a reported 10 % of Telewest stockholders.
Burdick then takes his golden parachute and bails from the Telewest blueyonder on 2/20/04.
Barry Elsen is appointed acting CEO to close the bond for equity swap which, if allowed, will pave the way for the takeove/merger of Telewest and NTL, making it the dominant telco in the UK, overshadowing BT using it's cable systems.
So, who's been taking whopping brokerage and accounting fees while they give high ratings but secretly dump their own Telewest stock?
(Fined $100,000,000 by the SEC over questionable practices)
Who's been instrumental in brokering the questionable bond for equity swaps OK'd by Microsoft's Telewest Board Members before Gates called them home?
Salomon Smith Barney ...
(Fined $100,000,000 by the SEC over questionable practices.)
Salomon Smith Barney is owned by CitiGroup, who has loaned Telewest Billions.
Where these Millions of Dollars in fines go is a mystery, because the money sure doesn't seem to end up back in the pockets of the people who invested their hard earned money and got screwed over.
Who's Telewest's Partner?
Arthur Andersen Consulting. They call themselves Accenture now.
No, they're not dead. They just have another email alias.
(Andersen changed it's name to Accenture about the same time that Microsoft dumped it's roughly one third ownership of Global Crossing Stock. That would be right before the Global Crossing Accounting Scandal, if I remember correctly.)
Who's Telewest's Auditor?
KPMG. ... (Under suit by the SEC over the Xerox Accounting Scandal.)
And how about Gates' buddy Warren Buffet taking over Level 3 Communications, Telewest's direct Internet Backbone connection to Redmond?
Let's say that again, Telewest's direct backbone connection to Redmond.
Warren Buffet's Level 3 Communications has just announced that it will launch tests in New Jersey of it's VOIP, Voice Over Internet Protocol, telephone service.
Here comes the paradigm shift:
ALL COMMUNICATIONS transmitted over a tightly controlled network in the hands of a secretive and politically connected cartel with their own agenda.
It doesn't bode well for the hard won Rights of Free Speech and Privacy or news that isn't tainted by corporate backed political agendas.
( An Aside: Warren Buffet, along with Key Iran Contra figure, George Shultz, are Arnold Schwartzenegger's advisors. Arnold has already handed California's Workers Comp system to the insurance companies who are raking in huge premiums while they stall and don't provide care for California's legitimate injured workers.
I sure hope Arnold's Bond Issue won't end up with the Billionaires Club owning California, too. =)