UBS Seeks Government Backstop As It Rushes To Finalize Credit Suisse Takeover Deal As Soon As Tonight

So much can change in just 48 hours.

Late on Thursday, just hours after the SNB had launched the first (of many) bailout attempts of Swiss banking giant Credit Suisse, Bloomberg blasted the following headline:

*UBS, CREDIT SUISSE SAID TO OPPOSE IDEA OF A FORCED COMBINATION

This lack of enthusiasm by UBS to acquire its struggling rival of course forced the Swiss National Bank to front CS a CHF50 billion credit line to hold it over for the next four days amid a furious bank run, one which we said would be woefully insufficient to restore confidence in the collapsing lender, and which we probably used up in just a few hours.

Then, late on Friday, both banks "unexpectedly" changed their minds and we got the following 180 degree U-Turn report from the FT:

*UBS IN TALKS TO ACQUIRE ALL OR PART OF CREDIT SUISSE: FT

So a deal is inevitable after all… but as always, there is a footnote one which we predicted yesterday when we said that a deal would only happen if the acquiring bank - in this case UBS - got a full central bank backstop.

https://www.zerohedge.com/markets/ubs-seeks-government-backstop-it-rushes-finalize-credit-suisse-takeover-deal-soon-tonight

China fines Big Four accounting firm

The authorities claimed Deloitte’s audit of one of the country’s largest bad-debt managers was marred by negligence

China’s Finance Ministry has imposed an unprecedented fine of 212 million yuan ($30.8 million) on accountancy firm Deloitte, for negligence in its audit of bad-debt manager China Huarong, the ministry said in a statement on its website on Friday. Bad-debt managers are asset management firms that are tasked with buying distressed loans from banks.

According to the financial authorities, several inspections, staff interviews, and a paperwork review revealed that Deloitte, one of the ‘Big Four’ global accounting giants, had failed to detect the condition of Huarong’s underlying assets and objectively assess its businesses operations from 2014 to 2019. Huarong also concealed the fact that it experienced a number of internal and risk control failures at the time, according to the ministry.

“During the period when it offered auditing services [to Huarong], [Deloitte] did not maintain [a] professional skeptical attitude, did not effectively conduct essential auditing procedures, did not obtain sufficient and adequate auditing evidence and had severe auditing flaws,” the statement read.

Apart from the fine, Beijing halted operations at Deloitte’s Beijing branch for three months and suspended the licenses of two certified Deloitte accountants. Meanwhile, Huarong, one of the country’s largest bad-debt managers, and its seven subsidiaries were fined 100,000 yuan each over internal governance and risk control failures, as well as “severely distorted” accounting data.

Deloitte said in a statement on Friday that it respected the ministry’s action, but it did not either admit or deny its culpability.

“To be clear, there is no suggestion by the [ministry] that either Deloitte Hua Yong, its Beijing branch, or any of its people have done anything unethical. We respect and accept the [ministry’s] penalty decision. We regret that, in this matter, the [ministry] considers certain aspects of our work fell below the required auditing standards,” the firm said.

According to a Bloomberg report, Beijing has recently started urging state-owned companies to stop using the Big Four for audits and turn instead to domestic accounting firms in a push to ensure the country’s data security and lower its reliance on foreign firms.

https://www.rt.com/business/573179-china-fines-big-four-firm/

Police raid former Pakistani PM’s home

The operation occurred as Imran Khan was on his way to court to face charges of illegally selling state gifts

Pakistani police officers stormed the home of former Prime Minister Imran Khan on Saturday as he was travelling to the capital, Islamabad, to appear in court in a corruption case. The raid became violent as law enforcement clashed with Khan’s supporters.

Footage shared on social media shows officers breaking the main gate at the ex-PM’s residence in Lahore. A video published by Khan’s Pakistan Tehreek-e-Insaf (PTI) party on Twitter appears to show police brutally beating supporters with sticks and batons.

Worst kind of torture in Zaman Park right now. If something happens, will you paint it as accident again!? #____pic.twitter.com/5S45UDVvMZ

— PTI (@PTIofficial) March 18, 2023

Pakistani officials say 30 people were arrested during the raid, as they moved to clear a blockade set up by Khan’s supporters near his house. The officer in charge of the operation claimed that activists had resisted by throwing stones and Molotov cocktails.

“Punjab police have led an assault on my house in Zaman Park where Bushra Begum is alone. Under what law are they doing this?” Khan tweeted, referring to his wife, who was in the home at the time.

He also claimed that the raid was not to ensure that he would appear in court, “but was intended to take me away to prison so that I am unable to lead our election campaign.”

The operation follows several days of clashes with Khan’s supporters around the perimeter of his compound, as police attempted to arrest the beleaguered politician for not appearing in court. However, the arrest warrant was later suspended by the Pakistani High Court.

In a tweet on Saturday, Khan claimed that the government intended to arrest him. He added that “despite knowing their malafide intentions, I am proceeding to Islamabad and the court because I believe in rule of law.”

Khan became prime minister in 2018 and was ousted in a 2022 non-confidence vote. He is presently embroiled in dozens of legal disputes. Among other charges, he is accused of illegally selling state gifts, valued at around $2 million, that were given to him by foreign dignitaries while he was in office. He has denied the allegations, claiming they are politically motivated.

https://www.rt.com/news/573187-police-raid-khan-pakistan/

https://www.rt.com/news/573187-police-raid-khan-pakistan/

House Speaker Announces Investigation of Federal Funds Used to Subvert Democracy By Interfering with Elections Through Political Attacks

Earlier this year the Manhattan District Attorney’s office revived its criminal investigation into Trump’s ‘hush payments’ to porn star Stephanie Clifford, AKA, Stormy Daniels and elevated the case from a misdemeanor to a felony.

Trump has been accused of paying Daniels ‘hush payments’ in a scheme to silence her and stop the story about their alleged affair from being published in the National Enquirer.

rump’s lawyer Joe Tacopina blasted the prosecutors in the Stormy case earlier this week.

“It’s not what we do. This is not what we do. We are distorting laws to try and bag President Trump. I don’t know if it’s because he’s leading in the polls,” Trump’s lawyer Joe Tacopina said on Good Morning America. “I don’t know what it is, but this prosecutor and this prosecutor’s office has made an agenda. They have scoured his personal life and business life for seven years to try to find something.”

Earlier today President Trump posted on TRUTH Social that he will be arrested on Tuesday. He called for protests against this travesty of justice – something you’d see in a third world country.

And moments ago, Speaker Kevin McCarthy responded to this latest assault on President Trump. McCarthy announced that the US House will investigate if federal funds are being used to subvert democracy by interfering with elections through political attacks.

Speaker Kevin McCarthy: Here we go again — an outrageous abuse of power by a radical DA who lets violent criminals walk as he pursues political vengeance against President Trump. I’m directing relevant committees to immediately investigate if federal funds are being used to subvert our democracy by interfering in elections with politically motivated prosecutions.

We all know this is true. Taxpayer dollars are paying for all kinds of crazy leftist efforts in an attempt to give Democrats more power and to punish the American family.

https://www.thegatewaypundit.com/2023/03/mccarthy-speaks-out-house-speaker-announces-investigation-of-federal-funds-used-to-subvert-democracy-by-interfering-with-elections-through-political-attacks/

Marjorie Taylor Greene: Biden DOJ Coordinating with Manhattan DA to Prosecute Trump; Calls for Congress to Investigate

Rep. Marjorie Taylor Greene (R-GA) posted on Saturday that the Biden Department of Justice is coordinating with elected Democrat Manhattan District Attorney Alvin Bragg to prosecute President Trump. Greene called for a Congressional investigation after Trump announced on Truth Social he expects to be arrested Tuesday in the New York City grand jury investigation into the alleged Stormy Daniels payoff scandal. Bragg’s campaign for D.A. in 2021 was funded by George Soros.

“We must bring in the Biden DOJ officials who have been coordinating with the Manhattan DA to testify. And subpoena all of it. We must end the weaponization of government power for politics.”

“Biden’s DOJ is coordinating with the Democrat Manhattan DA to arrest Donald Trump, the top Republican Presidential candidate for 2024, and charge him with a fake outdated misdemeanor charge. It’s ALL FOR POLITICS! This is what they do in communists countries to destroy their political opponents! Republicans in Congress MUST subpoena these communists and END this! We have the power to do it and we also have the power to DEFUND their salaries and departments! Enough of this! The American people deserve a government that actually works for them NOT a bunch of self centered communists who bail out their donors, protect the elites, and weld their power to punish their political enemies!”

https://www.thegatewaypundit.com/2023/03/marjorie-taylor-greene-biden-doj-coordinating-with-manhattan-da-to-prosecute-trump-calls-for-congress-to-investigate/

Economic Study: 186 US Banks Are in Trouble and at Risk of Insolvency – May Collapse Like Silicon Valley Bank

From the Wall Street Journal – Economists are now estimating that 186 US banks may be prone to the same risks as Silicon Valley Bank. This number is likely higher as the pressures that regional banks are facing are ramping up.

This number comes from a recent economic study published on March 13.

Treasury Secretary Janet Yellen told the US Senato on Thursday that not all uninsured deposits would be protected in future bank failures, ONLY those banks that pose systemic risks. Regional banks will get screwed.

The Biden regime is picking winners and users and it will be the Biden regime that forces a run on the banks.

Steve Bannon read part of the report on Friday’s War Room show on Frank Speech.

Watcher Guru has more:

A recent study by economists identified 186 banks at risk. These banks face issues similar to that which caused the collapse of Silicon Valley Bank. SIVB collapsed earlier this week due to the bank’s assets being diminished by increasing interest rates. This led to concerned customers withdrawing their uninsured deposits.

During the Federal Reserve’s swift rate-hike campaign, the economists evaluated individual U.S. banks. They assessed asset books and market value losses. Assets such as Treasury notes and mortgage loans can decrease in value. This happens when new bonds offer higher rates. The economists also analyzed the banks’ funding percentages. They focused on funding derived from uninsured depositors, those with accounts holding over $250,000.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4387676

COVID-19 Vaccines Can Cause 'Permanent Disabilities,' Says German Health Minister

Germany’s Minister of Health Karl Lauterbach, who once claimed that COVID-19 vaccination is free of side effects, admitted last week that he was wrong, saying adverse reactions occur at a rate of one in 10,000 doses and can cause “severe disabilities.”

On Aug. 14, 2021, Lauterbach said on Twitter that the vaccines had “no side effects,” further questioning why some Germans refused to get vaccinated against COVID-19.

During an interview on ZDF’s “Heute Journal” on March 12, Lauterbach was asked by anchor Christian Sievers about the claim he made in the summer of 2021, confronting the health minister with his previous tweet that stated the shots are virtually free of side effects.

Lauterbach responded that the tweet was “misguided” and an “exaggeration” he made at the time, noting that it “did not represent my true position.”

“I’ve always been aware of the numbers and they’ve remained relatively stable … one in 10,000 [are injured],” Lauterbach said. “Some say that it’s a lot, and some say it’s not so many.”

Lauterbach’s remark on vaccine adverse events came after the German network played a segment of several Germans who’ve been seriously injured after getting the shot, including a 17-year-old gymnast who previously competed in the German Artistic Gymnastics Championships before she was hospitalized for more than one year shortly after receiving the second dose of the BioNTech COVID-19 vaccine.

“What do you say to those who have been affected [by vaccine injuries]?” Sievers asked Lauterbach.

“What’s happened to these people is absolutely dismaying, and every single case is one too many,” Lauterbach responded. “I honestly feel very sorry for these people. There are severe disabilities, and some of them will be permanent.”

Steve Kirsch, executive director of the Vaccine Safety Research Foundation, did not agree with Lauterbach, but he commended the health minister for making “progress” when comparing his latest remark to his previous comments regarding the safety and effectiveness of COVID-19 vaccines.

“The true rate of serious adverse events is approximately 100 times greater than the figures Lauterbach cited—’closer to 1 in 100 doses’ and ‘For death, it is ~1 in 1,000 doses,'” Kirsch said on Twitter.

https://www.zerohedge.com/covid-19/covid-19-vaccines-can-cause-permanent-disabilities-says-german-health-minister

Multiple Minnesota Agencies Monitor Nuclear Plant After Over 400,000 Gallons of Radioactive Water Has Leaked Since Last Year

The Xcel Energy Monticello Nuclear plant is being closely monitored by the Minnesota Department of Health and other state agencies due to the leak of over 400,000 gallons of water containing radioactive water and chemicals into the ground at the site.

The water contained tritium, a byproduct of electric production at nuclear power plants, that came from a water pipe on site, according to Dave Peterlinz of KARE11.

The Monticello Nuclear Generating Plant is a nuclear power plant owned by Xcel Energy located in Monticello, Minnesota, along the Mississippi River.

According to the company, there’s no danger to the public.

“Xcel Energy took swift action to contain the leak to the plant site, which poses no health and safety risk to the local community or the environment,” Xcel Energy said.

“Ongoing monitoring from over two dozen on-site monitoring wells confirms that the leaked water is fully contained on-site and has not been detected beyond the facility or in any local drinking water,” the Xcel Energy statement said.

https://www.thegatewaypundit.com/2023/03/multiple-minnesota-agencies-monitor-nuclear-plant-after-over-400000-gallons-of-radioactive-water-has-leaked-since-last-year/

https://www.thegatewaypundit.com/2023/03/multiple-minnesota-agencies-monitor-nuclear-plant-after-over-400000-gallons-of-radioactive-water-has-leaked-since-last-year/

Ron DeSantis Cut Lenient Plea Deals to Shorten Prison Sentences for Child Porn Crimes

DeSantis's Rise From Prosecutor To Politician Marked by Child Porn Plea Deals.

As a prosecutor, current Florida governor Ron DeSantis repeatedly cut plea deals to give lenient sentences to defendants convicted of child pornography crimes, according to records obtained by NATIONAL FILE.

In one case, the deal DeSantis cut with the child porn aficionado cut the perpetrator’s sentence from thirty years down to six year.

In another plea deal DeSantis cut with a sailor facing a child pornography charge, the service member ultimately only received a 6-month prison sentence rather than a maximum 10-year sentence.

At least two of the child porn consumers DeSantis cut deals with were members of the U.S. Navy.

In 2007, Gregory Baker was charged for allegedly possessing a thumb drive with child porn on it.

According to a court document: “visual depictions involved the use of minors engaging in sexually explicit conduct and which visual depictions were of such conduct.” In June 2008, DeSantis became the assistant U.S. attorney on the Baker case.

DeSantis did not oppose Baker’s attempt to modify the conditions of his release pertaining to curfew and travel. In October 2008, DeSantis submitted a “downward departure” motion that created a “one level reduction in the Defendant’s total offense level,” and Baker ended up getting sentenced to only one year and one day in prison.

DeSantis signed the motion, which stated: “The defendant’s guilty plea permitted the government to avoid preparing for trial and permitted the government and the Court to allocate resources efficiently.”

In 2008, prosecutor Ron DeSantis made a plea deal with U.S. sailors Matthew Orth and Chase Keefover, who received indictments for possessing or transmitting child pornography on a Navy ship. Both of the sailors were facing lengthy prison sentences, with Orth looking at 30 years behind bars and Keefover facing ten years in prison.

In September 2008, the Florida Times-Union reported that “Matthew S. Orth, a sailor on the USS Roosevelt, was ordered held without bail on charges he used a computer to transmit from the ship six images depicting minors as young as 9 engaging in sexually explicit conduct. Orth was indicted last week on one count of transporting pornography and two counts of possession. Chase E. Keefover was arraigned on one count of possessing nine images of child pornography on his laptop computer aboard the USS Halyburton.”

But DeSantis cut deals for both of the sailors. DeSantis dropped one of the three charges against Orth and Orth received a prison sentence of only six years, followed by 15 years probation. Here is Ronald DeSantis’ signature on the Orth plea agreement:

https://nationalfile.com/ron-desantis-cut-lenient-plea-deals-to-shorten-prison-sentences-for-child-porn-crimes/

FBI Raids Home of Ex-Maryland Governor’s Former Top Aide After No Show for Trial

The FBI raided the home of Roy McGrath, Maryland Gov. Larry Hogan’s former chief of staff after he failed to appear in Baltimore to stand trial on federal corruption charges.

The raid on McGrath’s home in Naples, Florida, was conducted on Wednesday morning. McGrath was found not to be there, but his wife was present as agents conducted the search, his attorney, Joseph Murtha, told the Associated Press.

Murtha said that he was surprised that his client didn’t show up at the trial on Monday.

“I haven’t a clue. I didn’t see this coming,” Murtha told the Washington Times. Murtha said that he had “a substantively productive conversation” about the trial with his client late Sunday.

McGrath was supposed to board a plane in Florida later that night.

Murtha added that he was unable to reach his client via cellphone or email. “This behavior is so out of the ordinary for him. Obviously, his personal safety is a concern,” the attorney said, reported the Associated Press.

U.S. District Judge Deborah Boardman issued an arrest warrant for McGrath after he failed to show up on Monday. The judge canceled the scheduled jury selection, and the prospected jurors were dismissed.

On Tuesday, the U.S. Marshals Service launched an interstate manhunt for McGrath, who received an eight-count federal indictment in 2021. A wanted poster was released as well.

https://www.ntd.com/fbi-raids-home-of-ex-maryland-governors-former-top-aide-after-no-show-for-trial_908043.html

Waters: Trump’s Indictment Post ‘Like He’s Attempting to Organize His Domestic Terrorists’

On Saturday’s broadcast of MSNBC’s “Saturday Show,” Rep. Maxine Waters (D-CA) reacted to former President Donald Trump’s Truth Social post earlier in the day on reports that he will be indicted soon by Manhattan District Attorney Alvin Bragg by stating that by making the announcement himself, “it’s almost like he’s attempting to organize his domestic terrorists to show up and to resist him being arrested.” And “perhaps, he was trying to organize domestic terrorists to protest his arrest.”

Waters said, “[M]ost people have never seen or believed that we would have a President who has acted in the way that he has, who has disrespected the Constitution of the United States of America, who has lied, who has tried to organize domestic terrorists, and some believe that he did organize them as they attacked our Capitol on January 6. … When he announces himself, it’s almost like he’s attempting to organize his domestic terrorists to show up and to resist him being arrested. You have to be careful with him.”

She added, “I just wanted to have you…understand that perhaps, he was trying to organize domestic terrorists to protest his arrest. And I think we have to be careful about him making that announcement. He’s doing it for a reason.”

https://www.breitbart.com/clips/2023/03/18/waters-trumps-indictment-post-like-hes-attempting-to-organize-his-domestic-terrorists/

>>18532715

https://www.breitbart.com/politics/2023/03/18/trump-says-hell-be-arrested-on-tuesday-amid-manhattan-da-probe/

https://www.timesofisrael.com/tony-blair-palestinians-should-draw-lessons-from-northern-ireland-peace-deal/

Ad Slams Liberal Wisconsin Supreme Court Nominee for Releasing Child Rapist

Willie Horton-style ad goes after Janet Protasiewicz

https://youtu.be/TNQZrqVEXIk

'Mutilating children for profit.' California teen sues doctors over breast-removal surgery at age 13 in Kaiser Permanente's SECOND blockbuster trans lawsuit

Layla Jane says her puberty blockers and hormones were a medical 'torment'

Kaiser Permanente doctors offered trans care after minutes-long consultations

Another California teen Chloe Cole last month sued the same hospital

The 18-year-old, who is referred to as Layla Jane, says she should never have been put through the 'torment' of testosterone hormones at age 12 and puberty blockers and surgery the next year.

She is one of a growing number of detransitioners, as they are known, who come to regret their procedures and sue the doctors they accuse of pushing them into irreversible treatments instead of counselling.

'I don't think I should have been allowed to change my sex before I could legally consent to have sex,' Layla said on Fox News.

'I don't think I'm better off for the experience, and I think transition just completely added fuel to the fire that was my pre-existing conditions.'

According to legal papers, Layla experienced moodiness, anxiety, gender confusion and anger issues as a child. At age 11 learned about radical transgender ideology and went online to learn more about the new trend.

https://www.dailymail.co.uk/news/article-11873443/California-teen-sues-doctors-breast-removal-surgery-13-Kaiser-Permanentes-2nd-lawsuit.html

Ukraine Sanctions Syrian President Bashar Al-Assad

On March 18, Ukrainian President Vladimir Zelensky imposed sanctions against Syrian President Bashar Assad, a close ally of Russia.

In addition to President Assad, the sanctions targeted Syrian Prime Minister Hussein Arnous and Foreign Minister Faisal Miqdad. A document released by the Ukrainian Presidency clarifies that Assad and the two senior Syrian officials are now subject to the blocking of assets and a number of other measures.

The new sanctions included 300 individuals, mostly Russian citizens, and 141 legal entities, mainly research centers, factories, shipbuilding enterprises and aviation industry companies from Russia.

Ukrainian-Syrian relations began to deteriorate in 2016 when Damascus decided to recognize the Crimean Peninsula as a part of Russia. Two years later, Ukraine refused to revalidate residencies of Syrian diplomatic staff in Kiev.

Last year, President Zelensky said Kiev will cut ties after Syria recognized the Russian-backed Donetsk People’s Republic and Luhansk People’s Republic. Damascus immediately responded in kind.

The new Ukrainian sanctions came just a few days after Assad stressed Syria’s support for the Russian special military operation during a meeting with President Vladimir Putin in Moscow. Assad said that the Russian military was fighting “neo-Nazis” and “old Nazis” in Ukraine.

Damascus has not commented yet on Kiev’s step, which will not likely have any impact due to the absence of any economic or political interaction between Syria and Ukraine.

https://southfront.org/ukraine-sanctions-syrian-president-bashar-al-assad/

New Wave Of Russian Strikes Hit Ukraine

On the night of March 18, Ukraine was awakened by another wave of Russian strikes on military and energy infrastructure facilities throughout the country.

The locals reported that the explosions sounded in the Dnipropetrovsk, Kiev, Lviv, Zhytomyr, Rivne, Khmelnytsky and Volyn regions. Air alert was sounded in a dozen regions, including the Cherkasy, Kirovograd, Kharkiv, Poltava, and those listed above.

So far, Ukrainian officials only confirmed that the Russian UAVs had reached their target in the Dnipropetrovsk region, while Ukrainian air defence was working in Kiev and in the neighboring Zhytomyr region.

Explosions heard in the Lviv region:

Large explosions thundered the city of Novomoskovsk in the Dnipropetrovsk region. The head of the Dnipropetrovsk regional administration confirmed damage to the critical infrastructure facilities in the area.

Judging by the footage shared by the locals, Russian Geranium UAVs struck a fuel storage facility in the industrial zone located near the Novomoskovsk-Dneprovsky station. Damage to other unidentified facilities in the region was reported

6 videos in link

https://southfront.org/new-wave-of-russian-strikes-hit-ukraine/

>>18532983

GATEKEEPER