tyb
TITAN25 USAF E-4B Nightwatch sw from it's JBA depart earlier and heading to Hawaii
RCH576T USAF C-17 Globemaster on ground at Nellis AFB after an overnight and equipment drop for the Kamel Toe "tour"-waiting to leave
DRAW08 USAFSOC C-32B on approach for Tucson, AX
167952 US Navy P-8 Poseiden off San Diego from Pt. Mugu and trackin'
Whistle-Blower Says Credit Suisse Helped Clients Skip Taxes After Promising to Stop
A former bank employee contends that the Swiss bank continued to help American clients avoid taxes long after its 2014 plea deal with the U.S. government.
Seven years after Credit Suisse promised federal prosecutors that it would stop helping rich Americans hide their wealth from tax collectors, a whistle-blower is contending that it continued to do just that, raising the possibility that the Swiss bank could face a fresh investigation and steep financial penalties. The allegations, laid out in documents sent last week to the Justice Department and the Internal Revenue Service, were made by a former Credit Suisse employee. The former employee said that the bank continued to hide assets for its clients long after it promised prosecutors it would close those accounts, according to copies of documents obtained by The New York Times.
The whistle-blower, whose identity is unknown, is also contending that Credit Suisse lied to federal prosecutors, the Internal Revenue Service and members of Congress during their years long inquiry into how Swiss banks helped Americans defraud the government. Those investigations ultimately led to a settlement in May 2014 between Credit Suisse and federal prosecutors, in which the Swiss bank pleaded guilty to helping some of its American clients evade taxes by cloaking their wealth through offshore shell companies. Credit Suisse was fined a total of $2.6 billion, but avoided even higher fines because it vowed to the Justice Department and a Senate panel that it had not only stopped the practice, but that it would close “any and all accounts of recalcitrant account holders.” The bank also pledged to help the United States pursue other criminal investigations, according to the plea agreement. Credit Suisse’s guilty plea and steep fine were rare in 2014. It was the first time in more than two decades that a lender of its size had admitted wrongdoing in an American court.
Jeffrey Neiman, a former federal prosecutor who has represented the Credit Suisse whistle-blower since 2014, said his client was coming forward with more information now because there was a new administration in place. In negotiating with the Justice Department in 2013 and 2014 when Barack Obama was president, Credit Suisse hired two high-profile figures — Broderick Johnson, a lobbyist who advised the Obama re-election campaign, and Christopher A. Wray, a lawyer who had run the department’s criminal division and would later be named director of the Federal Bureau of Investigation. And even though Mr. Neiman said his client provided information to the authorities around that time that led to the arrest in 2015 of a retired business professor who hid his fortune with the help of Credit Suisse, Justice Department officials did not appear to consider that case a reason to renegotiate its settlement agreement.
moar
https://www.nytimes.com/2021/03/13/business/whistle-blower-credit-suisse-taxes.html
>>69957 pb
BOXER41 USAF C-40C departed Travis AFB after a quick ground stop and sw to Hawaii-joined by RCH354 USAF C-17 Globemaster that departed JBA earlier today
RCH576T USAF C-17 Globemaster departed Nellis AFB ne after a ground stop-inbound from JB McChord to Hill AFB for a ground stop then sw down to Nellis AFB
This is a high-level AC for ze Germans.
Most likely Foreign Minister.
German AF GAF685 on approach at Calgary Int'l after a ground stop in Halifax prior-departed Koln yesterday with a stop at NAS Keflavik-Iceland
This same AC did some go arounds at Toronto Pearson Airport back in February and then froze further east-cap#3
China’s Plan to Trim Debt Makes Stock-Market Reforms More Urgent
China’s policy makers, spurred to act by ballooning debt, are trying to get the country’s $10.7 trillion stock market to play a larger role in funding the economy.
Authorities have signaled the cost of borrowing will rise as the economy gains traction, putting the spotlight on the stock market as an alternative source of funding. While multiple interest-rate cuts and cash injections from the central bank helped keep Chinese companies afloat last year, the quick buildup of debt now poses a significant risk to the financial system.
Measures under consideration include changing the system for initial public offerings on main exchanges in Shanghai and Shenzhen, a move that could reduce the backlog of hundreds of companies waiting to list. And as authorities loosen control over the stock market, they’re getting tougher on firms that want to access it: the securities regulator may set a higher bar for companies looking to sell shares on its experimental Star venue.
Swing away
The majority of China’s 4,000-odd stocks can move a maximum 10% in either direction, or 5% for companies with troubled finances. The single-stock restrictions have been relaxed in two of China’s experimental trading venues: in August, the cap was doubled to 20% for shares on Shenzhen’s ChiNext after the system was tested in Shanghai’s Star board. The next step is to deploy those changes to the cities’ two main boards.
Market impact: A wider trading band could encourage more active trading,(no shit Sherlock) which improves market liquidity. But expanding the band to the main boards leaves China’s biggest and most-owned companies vulnerable to extreme moves – and its fund managers susceptible to redemptions.(that's easy…just limit or shut off redemptions…DERP!!-that's done almost everytime funds start blowing up…they should go talk to Gary at the SEC nao..he did such a bang-up job at the CFTC and can offer lots of creative ways to manage things.)
Cutting red tape
China plans to expand a pilot program on a registration-based system for initial public offerings to all of its trading venues. First-time share sales on the main Shanghai and Shenzhen stock exchanges are currently vetted by the regulator, a lengthy review period which makes the equity market inaccessible for many smaller companies. The system was adopted by the Star board in 2019 and implemented on the ChiNext in 2020. A plan to merge Shenzhen’s main board with its smaller enterprise board, announced in February, was seen as a step toward a broader rollout.
Market impact: A more accessible and efficient primary market, where the valuation is determined by investors. The regulator imposes an unofficial cap of 23 times earnings for IPOs, which limits fundraising. As of late January, there were more than 800 companies lining up to list in China, according to data compiled by Bloomberg. After filing an application, it takes on average 522 days to debut, Huaan Securities Co. estimated in a recent note. The ChiNext’s registration-based system cut that to 107 days, according to the brokerage.
No hedge no edge
Authorities clamped down on derivatives after they were blamed for exacerbating the stock crash in 2015. Yi Huiman, chairman of the China Securities Regulatory Commission, has said that developing the derivatives market “steadily” is a top priority. developing the derivatives market….top priority
Market impact: Looser restrictions on index futures would help attract overseas inflows. Futures are one of the easiest, cheapest and most-liquid ways to hedge positions(and easiest to manipulate), making them essential risk-management tools for professional funds. But the products are also targeted by speculators, which can trigger margin calls if the cash market moves against a big leveraged bet.
Buy now, sell now
Unlike the U.S. and Hong Kong, China’s stock market carries a T+1 trading mechanism, meaning investors can only sell their stocks the day after purchase. Xiao Gang, former chairman of the securities regulator, said in August that China could pick blue-chip stocks for same-day trading trials, after the Shanghai Stock Exchange said it’s studying a partial “T+0” trading mechanism for its Star board. Still, the CSRC indicated last month that implementation is a long way off, saying market participants are still cautious.
Market impact: A T+0 trading mechanism is favored by speculators and high frequency traders because they can profit from intraday fluctuations.
pretty sure theyon't check any of that for the big bois so that won't change much-just on the retail level.
https://www.bnnbloomberg.ca/china-s-plan-to-trim-debt-makes-stock-market-reforms-more-urgent-1.1576529
BOXER41 USAF C-40C on descent for Hickam AFB from Travis AFB ground stop a leetle behind that is MC41 another C-40C
MCMY61 71 USAF Pegasus tankers west with 2 MCFAMC USAF C-17 Globemasters behind
MC4005 US Navy Clipper wn from Marshall Islands Int'l Airport
This group heading to Guam most likely
MCFAMC USAF C-17 Globemaster on approach for Diego Garcia
Sunday morning arrival 7:20am local
DRAW08 USAFSOC C-32B departed NAS Oceana after a ground stop-inbound from Tucson, AX Pinal Airpark (nw of Tucson)
Cap #2 is this bird-tanker still showing
SAM981 USAF G5 east from Sonoma Cty Airprot overnight should begin descent soon for JBA @570kts
German AF GAF918 Airbus A-350 departed McCarran int'l Airport after an overnight-back to Koln
This is another high profile Luftwaffe AC and only one of these in fleet.
this ac went to Canadian Forces Base Comox just nw of Vancouver, B.C.
Red Flag started at Nellis on Monday
Red Flag 21-2 underway at Nellis
https://www.nellis.af.mil/News/Article/2527333/red-flag-21-2-underway-at-nellis/
U.S. B-1B Lancer Bomber Lands in Poland for the First Time
On Mar. 12, 2021, on the 22nd anniversary of the Polish accession to NATO, a U.S. Air Force B-1B belonging to the 7th Bomb Wing at Dyess Air Force Base, Texas, currently deployed to Norway, as part of a BTF (Bomber Task Force), landed a Powidz Air Base. The BONE (from “B-One”) landing in Powidz came from Orland Air Force Station, and conducted interoperability drills with tactical aviation elements of Sweden, Poland, and the Netherlands before landing at Powidz.
The aircraft visiting Poland, used radio callsign HUSSR02 and entered the Polish airspace via KARTKI, GRUDA, DEKUT, GINOK, BANPI route.
After conducting the hot pit refueling (refueling without turning off the engines, with its crew remaining in the cockpit) the aircraft departed from Powidz. USAF release made today stated that the maneuvers “drastically reduce refueling times, so that bombers can more rapidly return to the skies”. The procedure is a part of the so called Agile Combat Employment tactic boosting the bombers’ capability to rapidly deploy to remote airbases of varied capacity. In a sense, the concept is somewhat very similar to the one adopted during similar exercises that took place at the Powidz AB – the Rapid Raptor, and Rapid Forge operations, we could have witnessed during the recent years.
In the Polish airspace, the B-1Bs were escorted by the Polish Air Force’s F-16 jets that were scrambled from the Krzesiny AB near Poznan around noon. The Polish MoD stressed the fact that another visit of the Lancers in the Polish airspace can be viewed as a visible sign of the US readiness to react to potential crises in the region.
https://theaviationist.com/2021/03/12/u-s-b-1b-lancer-bomber-lands-in-poland-for-the-first-time/
nite