Synopsis: I allege Power Corp Ponzi scheme sold catastrophe bonds, triggered by sabotage of levees for 15' water flood in N.O. with kickbacks to FEMA and Louisiana State pension funds.
Open e-mail sent Saturday, November 18th, 2006
For the attention of: U.S. Attorney General, Alberto R. Gonzales,
The Honourable Vic Toews, Minister of Justice and Attorney General of
From: David Hawkins, Forensic Economist at Hawks CAFE
Ccs include: U.S. Vice-President Richard Cheney, Canadian Minister of Public Safety, the Honourable Stockwell Day, Canadian Prime Minister, Stephen Harper,Thomas J. Coyne, President, Coyne and Associates, Inc. Professor of Finance (retired since 1995),
Media and bccs:
Dear Attorney General Gonzales and Minister Toews:
Re: Power Corp Ponzi scheme – Katrina catastrophe bond
I allege that Power Corporation of Canada is operating a global Ponzi scheme by selling catastrophe ('cat') bonds in which high-interest returns are used to entrap new investors, pay off earlier investors and then extort the principal of the bond when an allegedly low-risk catastrophic event is triggered by Power Corp's subcontracted acts of sabotage. http://www.powercorp.ca/index.php?lang=eng&comp=powercorp&page=profile
In the case of Hurricane Katrina and the allegedly-consequential flooding of New Orleans, I find circumstantial evidence that cat-bond kickbacks were paid as "blood-and-hush" money to Power Corp insiders, including city-state politicians, FEMA first responders, U.S. Army Corps of Engineers, the Louisiana State Employees' Retirement System and affiliates of the Carlyle Canada* hedge-fund and private equity group.
My research indicates that Power Corp ordered U.K. general contractor Amec and French cement company, Lafarge, to trigger a cat bond, 17 hours after Hurricane Katrina had passed 80 miles to the east of the city, using a Lafarge barge as a command center in the Industrial Canal and blast technicians and expert saboteurs, recruited through hiring halls run by the mobbed-up Laborers International Union of North America ('LIUNA'). http://www.laborers.org/WashPost_Hearing_7-26-96.htm
I believe Power Corp. had originally financed FEMA procurement frauds in pre-pay contracts with Amec for computer simulations to determine the depths to which sheet piles – interlocking sheets of steel driven into soil to anchor levees and prevent water flow underneath – should be driven to ensure the levees failed in a Category 3 hurricane.
In the alleged scheme, Power Corp's satellite-surveillance affiliate, Macdonald Dettwiler and Associates, was pre-paid to monitor levee sections built with shallow sheet piles, predict the path of hurricanes such as Katrina and maximize profits from some triggered, insured catastrophe event using MDA's MindBox rule-based event-arbitrage software. http://www.mdacorporation.com/products/mindbox.shtml http://www.mdacorporation.com/index.shtml
As Katrina approached N.O., unwitting investors would have been duped into buying Power Corp's parametric cat (catastrophe) bonds which would lose their value if flood waters along the hurricane's path exceeded some specified depth such as 15 feet.
But Katrina passed 80 miles to the east and its storm surge was insufficient to overtop the allegedly-sabotaged levees and trigger Power Corp.'s parametric cat bond!
I allege that, seventeen hours after Katrina passed by N.O., without triggering the cat bond, Power Corp project managers ordered Amec to loosen the Lafarge barge mooring system, smash the walls of the
Yours sincerely, David Hawkins
Notes: "Power Corp Ponzi scheme – Katrina catastrophe bond"
"[Hurricane Katrina] devastation of metropolitan
"[Amec] skills required .. understanding of working with different levels of government. Risk identification specifies the hazards to which a community or project is most vulnerable .. ranks them according to impact. All communities in the
"Catastrophe (CAT) bonds .. financial derivatives .. traded on the world markets. In the mid-1990s a market emerged to transfer reinsurance risk [of] natural catastrophes from corporations, insurers and re-insurers to capital market investors .. referred to as insurance-linked securities (ILS) .. [Power Corp] sponsor establishes special purpose vehicle (SPV) as issuer of bonds .. issuer sells bonds to investors .. proceeds from sale invested in collateral account .. sponsor pays premium to issuer; this and investment of bond proceeds are source of interest paid to investors. If specified catastrophic risk is triggered, funds withdrawn from collateral account and paid to [Power Corp] sponsor .. three types of ILS triggers: indemnity, index and parametric. An indemnity trigger involves actual losses of bond-issuing insurer [e.g. Power Corp following Amec's alleged demolition of the
"E-Letter To Daniel Machalaba And The Wall Street Journal Re: "Still Unknown: Did Barge Strike Levee?" .. possibility `breach' in levee near lower Ninth Ward of New Orleans caused by barge that crashed into it .. suggestion by Minister Louis Farrakhan of The Nation of Islam, that levee may have been blown up to destroy Black part of the city .. reliable source saw twenty-five foot crater underneath levee that was breached .. "I was stunned in
Indications that LIUNA's mobbed-up paramilitaries and saboteurs and Chinese espionage agents, may be working with Bill and Hillary Clinton ".. Clinton-Gore fundraiser Johnny Chung testified before Congress that ex-Clinton aide Mark E. Middleton received $500,000 from Chinese officials "to do good things for
*The Carlyle Canada Private Equity Group: Allegedly in contact with SWAT teams in virtual war rooms for contract sabotage to trigger Power Corp.'s catastrophe bonds, Carlyle Canada's private equity group included James A. Baker (now sabotaging the Coalition of the Willing working in Iraq), Frank C. Carlucci (Chairman of Nortel and its $100 billion "pump-and-dump" hedge fund frauds until April 2001), Laurent Beaudoin (set up the bogus loan-financed NATO war-game school in Canada, allegedly with money stolen by Carlyle from the UN Oil-for-Food program and allegedly used by Carlyle Canada to rehearse the NATO maneuvers used in the sabotage of NORAD on 9/11), Peter G. Bentley (CAI's MindBox and international advisory board of Chase Manhattan Bank - now JP Morgan), Andre Bisson, Paul Desmarais Sr. (Chairman of the Board of Pargesa Holding S.A. (Switzerland). Member of international advisory committee of Chase Manhattan Bank - now JP Morgan - and the supervisory council of AXA and the Compagnie Financière de Paribas (France)), Peter Lougheed, Frank McKenna (CAI's MindBox and Amec advisory council), David P. O'Brian, Hartley T. Richardson (director of Macdonald Dettwiler and Associates - provider of virtual war room and MindBox services to NATO-NORAD and Canada - on 9/11+1), William Sinclair and Lynton Wilson (CAI's MindBox and from May 2001, the Chairman of Nortel Networks, a provider of VoIP and virtual war room services to the Pentagon where wire and wireless systems were sabotaged on 9/11 to bypass the presidential chain-of-command. Nortel is under investigation for its $100 billion "pump-and-dump" fraud in