By Peter Dale Scott
This provocative, completely researched ebook explores the covert facets of U.S. international coverage. well-known political analyst Peter Dale Scott marshals compelling proof to reveal the large progress of sanctioned yet illicit violence in politics and nation affairs, particularly while relating to America's long-standing involvement with the worldwide drug site visitors. starting with Thailand within the Fifties, americans became inured to the CIA's alliances with drug traffickers (and their bankers) to put in and maintain right-wing governments. The development has repeated itself in Laos, Vietnam, Italy, Mexico, Thailand, Nigeria, Venezuela, Colombia, Peru, Chile, Panama, Honduras, Turkey, Pakistan, and now Afghanistan_to identify purely these international locations handled during this ebook. Scott indicates that the connection of U.S. intelligence operators and organisations to the worldwide drug site visitors, and to different overseas legal networks, merits larger cognizance within the debate over the U.S. presence in Afghanistan. up to now, America's govt and guidelines have performed extra to foster than to curtail the drug alternate. The so-called warfare on terror, and specifically the battle in Afghanistan, constitutes in simple terms the most recent bankruptcy during this anxious tale.
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Additional resources for American War Machine: Deep Politics, the CIA Global Drug Connection, and the Road to Afghanistan (War and Peace Library)
7 billion in the first half of 2008. Their outstanding amounts grew 10-fold. 7 billion Governmentbacked (FHA) <1% Governmentbacked (VA) <1% Conventional (jumbo) 37% Conventional (nonjumbo) 62% Sources: Office of Federal Housing Enterprise Oversight, Milken Institute. Note: OFHEO was replaced on July 30, 2008, with the Federal Housing Finance Agency (FHFA). 7, which list data for every year from 1990 to Q2 2008. 4 Trillion Governmentbacked (FHA) 1% Governmentbacked (VA) <1% Conventional (jumbo) 40% Conventional (nonjumbo) 59% Sources: Office of Federal Housing Enterprise Oversight, Milken Institute.
20 shows the sharp decline in mortgage rates that occurred during this period. A second factor contributing to the era of easy credit was a global savings glut. S. securities.
The damage quickly grew and spread far beyond the scope of the actual mortgage defaults and foreclosures. Not only did financial institutions suffer losses on mortgages they held, but so too did investors who bought mortgage-backed securities in the secondary market. These investments in essence themselves became a giant bubble, resting on the wobbly foundation of risky loans. Investors from around the world were clamoring for a piece of the action and got it with mortgage-backed securities—and even new securities backed by mortgage-backed securities.
American War Machine: Deep Politics, the CIA Global Drug Connection, and the Road to Afghanistan (War and Peace Library) by Peter Dale Scott