The Cathedral of St. John the Divine depicts the destruction of New York & Wall Street as described in the Book of Revelation

Here at Infinite Unknown I post almost every day one or even several articles warning that….

1. The real crisis has just started.

2. The stock market rally will end in a bloodbath.

3. The US government and the Fed are doing everything to destroy the US dollar.

4. The US will experience the greatest controlled financial collapse in history, which will turn the US into a Third World country.

5. This is the Greatest Depression in world history.

Just imagine how New York will look like if these events come true.

I predict that within 2 years all of this will become very obvious to everyone.


The Cathedral of St. John the Divine

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The Symbols

The impressive exterior of the cathedral provokes a humbling sensation at whom gazes at it. But what are you humbling yourself to? We’ll examine the details of the artwork.

The Apocalyptic Pillar

On the western facade of the building, stonemasons have sculpted numerous scenes that seem oddly out of place for a Cathedral. The most striking one is the chilling depiction of the destruction of New York city and its landmarks.

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(Not only the) Twin towers collapsing.

The scene above was done in 1997, four years before the destruction of the Twin Towers.  Other recognizable skyscrapers are the Chrysler Building and the Citigroup center.

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Apocalyptic New York

The scene above might be unsettling for New York residents. We see the Brooklyn bridge crumbling with cars and buses falling into agitated waters. At the right is the Statue of Liberty, which seems to be sinking in the water. Beneath this horrifying prophecy is the New York Stock Exchange, with people trading goods around it.

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So, what is the purpose of this weird carving? Well, the first thing that needs to be mentioned is the actual St. John the Divine is credited for writing the Book of Revelation in the Bible, which describes in symbolic imagery the events of the apocalypse. Occultists believe that the Book of Revelation has been hermetically coded to reveal its true meaning to the initiates of esoteric teachings. This scene, carved on the west entrance of the cathedral, depicts New York as being “Babylon the Great”, the city who gets completely destroyed by the wrath of God. The Book of Revelation mentions:

“Fallen! Fallen is Babylon the Great!

She has become a home for demons

and a haunt for every evil spirit,

a haunt for every unclean and detestable bird.

For all the nations have drunk

the maddening wine of her adulteries.

The kings of the earth committed adultery with her,

and the merchants of the earth grew rich from her excessive luxuries.”

-Book of Revelation 18

The artists might be on to something because there is indeed numerous similarities between the actual New York city and the description of Babylon the Great in the Bible.  The Book of Revelation mentions:

  1. A “Great Prostitute” who sits on many waters – peoples, multitudes, nations and languages – holding a golden cup. She rules over the kings of the Earth. = The Statue of Liberty
  2. Merchants of the Earth who grew rich of her “excessive luxuries”, weeping because nobody buys their goods anymore = New York Stock Exchange

“The merchants who sold these things and gained their wealth from her will stand far off, terrified at her torment. They will weep and mourn and cry out:

” ‘Woe! Woe, O great city,

dressed in fine linen, purple and scarlet,

and glittering with gold, precious stones and pearls!

In one hour such great wealth has been brought to ruin!’

– Book of Revelation, 18

Knowing that, still today, over 70% of the world’s capital goes through the NYSE, we understand why the building was depicted on the apocalyptic pillar. It represents the “financial” aspect of the Book of Revelation, where it repeatedly refers to rich merchants and trading goods.

So, a landmark of NYC, the St. John the Divine Cathedral, predicts in vivid detail the destruction of its home city. Pretty unusual. Under the rendering of the NYSE, we a skeleton and strange creatures, who seem to represent death and destruction. Is this some sort of prophecy?

………………..

Background and History of the Cathedral

This unfinished building has been claimed as being the world’s largest cathedral. It is realistic to maintain such high aspirations when your sources of funding include tycoons like JP Morgan and prominent figures like the Grand Master of the Masons of the state of New York. The completion of the cathedral was such a prized accomplishment for the Freemasons that it was featured on the front page of “Masonic World” of March 1925.

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The article states:

“It is particularly fitting that the Masons, who were the principal builders of cathedrals and churches during the greatest cathedral-building period, should now have a prominent part in the movement to build America’s greatest cathedral (…) Little need be added to the story of Freemasonry during the cathedral-building period; its monuments are its best history, alike of its genius, its faith and its symbols.”

The article openly admits that masonic cathedrals represent the best legacy of the Brotherhood and the symbolism is prominently showcased. The masses are however too ignorant to recognize the meanings behind the art, so they just stare at them, thinking “it’s pretty nice”.

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Illuminati Pyramid and All-Seeing Eye on the Cathedral of St. John the Divine

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Illuminati Pyramid and All-Seeing Eye

Read moreThe Cathedral of St. John the Divine depicts the destruction of New York & Wall Street as described in the Book of Revelation

We Are Facing a Total Breakdown of Financial Markets

Red alert:

Get out of the stock market. This is a trap. Take a close look at the P/E ratio. The ‘real’ next leg down in the stock market will be a bloodbath.

Gerald Celente: ‘Their is no recovery; It’s a coverup. We are already in the Greatest Depression.’

CIT Bankruptcy Filing Expected in Days; $2.3 Billion Taxpayer Money to Be Wiped Out; Goldman Sachs Receives $285 Million In Termination Fees:
“With $71 billion in assets, CIT would have the fifth-largest bankruptcy filing in U.S. history.”

(Every investor is fully responsible for his/her own actions, actually for his/her entire life. Blaming others is a sign of weakness. It is giving your power away to others and leaves oneself in the position of a pathetic, powerless victim.)


bear-market

By Bob Chapman

Insiders at corporations are selling with glee. Thirty times more sell orders than buy orders.

During September and October we still saw short covering. We also see that 73% of NYSE trading was of the black box variety, program trading. There are 16 firms front-running all market trades and the SEC refuses to do anything about it, so that Goldman Sachs and JP Morgan chase can further enrich themselves, illegally. The SEC calls it flash-trading not what it really is, stealing. And, yes, the SEC still refuses to stop naked shorting, which is also illegal – another trove of riches for the anointed insiders at Illuminati run brokerage firms. The remainder of the market strength comes from banks, brokerage firms and insurance companies who are leveraging funds received from the Treasury and the Fed, some $12.7 trillion. That is what this really is all about.

This is the first time ever that the S&P 500 has ever rallied 60% in six months. The Dow reached 10,000, when it should not have exceeded 8,500. That shows you the distortion and manipulation going on and points up the now blatant activities of the President’s “Working Group on Financial Markets,” which, of course, operates in secret. As a tribute to this phony rally we have lost 2.5 million jobs over its tenure, when two million are normally created. Are there no professionals out there that get it? They cannot all be that dumb, and they are not that dumb. They are engaging in a conspiracy of silence. They want to be thought well by their peers at the club. They do not want to be ostracized in the Wall Street click. We know we were there for 28 years, of course, always on the outside looking in, permanently known as goldie. If you want to see where the US stock market is eventually going take a look at Japan from 1992 to today. 70% losses and still unable to get out of its own way with an economy still in depression. Incidentally, if the US market copies Japan, which we believe it will, we could easily fall to 3,800 to 4,200 on the Dow and we’ll be very lucky if it holds there. Others whose opinion we respect are looking for 2,800. Wall Street is pricing into the market earnings not only for 2010 but 2011 as well, which is very dangerous in such an environment. We are still in the worst credit crisis since the 1930s.

Trailing P/E on operating earnings is 27 times. When the Dow was 14,168 in 2007, it was 18.8 times. Reported trailing earnings are 180 times, whereas in 10/07, it was 23.4 times. In 10/87, it was 20.3 times. That should give you something to think about if you are in the market. Normally P/E’s should be 14.5 times.
Instead of chasing an overpriced goose you should be participating in the bull markets in gold, silver and commodities. That is where safety, preservation of capital and possible large gains are to be found, both short and long term. Why fiddle with an overextended bear market rally when you can gain in relative safety. Get rid of those bonds, stocks, CDs, cash value life insurance policies and annuities, which are really uninsured and in the stock market waiting to again fall 40% to 70% in value. The crisis is not over; it is still in the beginning.

The Fed and Wall Street tell us the recession is over and soon policy actions will continue to a gradual resumption of sustainable economic growth. They see no inflation ahead, only the 1.2% presently. Needless to say, they are well aware that real inflation is 6.11%.

Read moreWe Are Facing a Total Breakdown of Financial Markets

New Secrecy Rule Lets Goldman Sachs Control Stock Prices Unmolested by Public Scrutiny

The new rule means the public will no longer be able to tell if large investment banks are manipulating the stock market for their own gain.

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Headquarters of Goldman Sachs Group Inc., in New York

The New York Stock Exchange quietly announced last week that it would end its practice of requiring companies to report all their program trading — a move that helps shield large investment banks, particularly Goldman Sachs, from public scrutiny.

The new rule means the public will no longer be able to tell if large investment banks are manipulating the stock market for their own gain, says Matt Taibbi, the journalist whose Rolling Stone article on Goldman Sachs’ role in asset bubbles over the past century has rocked the financial world.

According to previous NYSE rules, any company that carried out program trading — essentially, large computer-automated trades worth more than $1 million — had to report the trades to the NYSE, which then made the information publicly available.

But, under new regulations (PDF) published last week, that requirement has been removed.

“The NYSE announced that it will no longer be releasing its weekly program trading data,” Taibbi wrote in a blog posting. “This is quiet obviously a move designed to make it even more impossible to track what’s going on in the NYSE and shield, in particular, Goldman Sachs.”

Read moreNew Secrecy Rule Lets Goldman Sachs Control Stock Prices Unmolested by Public Scrutiny

Goldman Sachs Code Theft BOMBSHELL?

Something really ugly popped up on Daily Kos yesterday late in the afternoon…..

GS, through access to the system as a result of their special gov’t perks, was/is able to read the data on trades before it’s committed, and place their own buys or sells accordingly in that brief moment, thus allowing them to essentially steal buttloads of money every day from the rest of the punters world.

Two things come out of this:

1. If true, this should be highly illegal, and would, in any sane country result in something like what happened to Arthur Andersen…

(2. … is way off point….)

God help Goldman if this is true and the government goes after them.  This would constitute massive unlawful activity.  Indeed, the allegation is that Goldman alone was given this access!

God help our capital markets if this is true and is ignored by our government and regulatory agencies, or generates nothing more than a “handslap.”  Nobody in their right mind would ever trade on our markets again if this occurred and does not result in severe criminal and civil penalties.

There apparently is reason to believe that Sergey might have been involved in exactly this sort of coding implementation.  Specifically, look at the patent claims cited on DailyKos; his expertise was in fact in this general area of knowledge in the telecommunications world……

This is precisely the sort of thing that a Unix machine, sitting on a network cable where it can “see” traffic potentially not intended for it, could have an interface put into what is called “promiscuous mode” and SILENTLY sniff that traffic!

ASSUMING THE TRAFFIC IS PASSING BY THE MACHINE ON THE WIRE THIS IS TRIVIALLY EASY FOR ANY NETWORK PROGRAMMER OF REASONABLE SKILL TO DO.  IF THAT TRAFFIC IS EITHER UNENCRYPTED OR IT IS EASY TO BREAK THE ENCRYPTION…..

Folks, I have no way to know what the code in question does, but if there’s anything to this – anything at all – there is a major, as in biggest scam of the century – scandal here – something much, much bigger than Madoff or Stanford.

What would this mean, if it was all to prove up?

Read moreGoldman Sachs Code Theft BOMBSHELL?

U.S. Stocks Drop Most Since Crash of 1987 on Recession Concerns


A trader looks up at monitor while working on the floor of the New York Stock Exchange in New York on Oct. 15, 2008. Photographer: Jin Lee/Bloomberg News

Oct. 15 (Bloomberg) — U.S. stocks plunged the most since the crash of 1987, hammered by the biggest drop in retail sales in three years and growing doubt that plans to bail out banks will keep the economic slump from deepening.

Exxon Mobil Corp. and Chevron Corp. tumbled more than 12 percent as commodity prices declined on concern the slowing economy will hurt demand. Wal-Mart Stores Inc. retreated 8 percent after the Commerce Department said purchases at chain stores decreased 1.2 percent last month. Morgan Stanley lost 16 percent after Oppenheimer & Co. analyst Meredith Whitney said the government’s bank rescue is not a “panacea” solution.

The Standard & Poor’s 500 Index sank 90.17 points, or 9 percent, to 907.84, with nine companies declining more than 20 percent. The Dow Jones Industrial Average retreated 733.08, or 7.9 percent, to 8,577.91, its second-biggest point drop ever. The Nasdaq Composite Index lost 150.68, or 8.5 percent, to 1,628.33. About 37 stocks fell for each that rose on the New York Stock Exchange.

Read moreU.S. Stocks Drop Most Since Crash of 1987 on Recession Concerns

Dow plunges 679 to fall to lowest level in 5 years

NEW YORK – Stocks plunged in the final hour of trading Thursday, sending the Dow Jones industrial average down 679 points – more than 7 percent – to its lowest level in five years after a major credit ratings agency said it might cut its rating on General Motors Corp.

The Standard & Poor’s 500 index also fell more than 7 percent.

The declines came on the one-year anniversary of the closing highs of the Dow and the S&P. The Dow has lost 5,585 points, or 39.4 percent, since closing at 14,198 on Oct. 9, 2007. The S&P 500, meanwhile, is off 655 points, or 41.9 percent, since recording its high of 1,565.15.

U.S. stock market paper losses totaled $872 billion Thursday and the value of shares overall has tumbled a stunning $8.33 trillion since last year’s high. That’s based on preliminary figures measured by the Dow Jones Wilshire 5000 Composite Index, which tracks 5,000 U.S.-based companies’ stocks and represents almost all stocks traded in America.

Read moreDow plunges 679 to fall to lowest level in 5 years

U.S. Treasury May Buy Stakes in Banks Within Weeks

Oct. 9 (Bloomberg) — The government is planning to buy stakes in a wide range of banks within weeks as the credit freeze increasingly threatens to tip the U.S. economy into a deep recession.

Treasury Secretary Henry Paulson and top aides are still considering options on how the purchases would work, including having the government acquire preferred stock, two officials informed of the matter said.

The move would be a shift in emphasis in Paulson’s original intention for the $700 billion bailout package passed by Congress last week. While the Treasury still aims to buy troubled mortgage-backed securities from financial institutions, a direct capital injection would offer more immediate relief by giving banks quick access to funds they could then lend out.

“The Treasury is no longer looking for one silver bullet,” said Steve Bartlett, president of the Financial Services Roundtable, which represents 100 of the biggest firms in the industry. “They have to proceed on all fronts.”

Read moreU.S. Treasury May Buy Stakes in Banks Within Weeks

Dollar May Get `Crushed’ as Traders Weigh Up Bailout


U.S. one dollar bills are displayed for a photograph in New York, April 15, 2008. Photographer: Daniel Acker/Bloomberg News

Sept. 22 (Bloomberg) — Treasury Secretary Henry Paulson‘s plan to end the rout in U.S. financial markets may derail the dollar’s three-month rally as investors weigh the costs of the rescue.

The combination of spending $700 billion on soured mortgage-related assets and providing $400 billion to guarantee money-market mutual funds will boost U.S. borrowing as much as $1 trillion, according to Barclays Capital interest-rate strategist Michael Pond in New York. While the rescue may restore investor confidence to battered financial markets, traders will again focus on the twin budget and current-account deficits and negative real U.S. interest rates.

``As we get to the other side of this, the dollar will get crushed,” said John Taylor, chairman of New York-based International Foreign Exchange Concepts Inc., the world’s biggest currency hedge-fund firm, which manages about $15 billion.

Read moreDollar May Get `Crushed’ as Traders Weigh Up Bailout

Goldman Sachs, Morgan Stanley Become Banks, Ending an Era for Wall Street


U.S. flags fly outside the headquarters of Goldman Sachs Group Inc., in New York, Sept. 16, 2008. Photographer: Gino Domenico/Bloomberg News

Sept. 22 (Bloomberg) — The Wall Street that shaped the financial world for two decades ended last night, when Goldman Sachs Group Inc. and Morgan Stanley concluded there is no future in remaining investment banks now that investors have determined the model is broken.

The Federal Reserve’s approval of their bid to become banks ends the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and caps weeks of chaos that sent Lehman Brothers Holdings Inc. into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.

“The decision marks the end of Wall Street as we have known it,” said William Isaac, a former chairman of the Federal Deposit Insurance Corp. “It’s too bad.”

Goldman, whose alumni include Henry Paulson, the Treasury secretary presiding over a $700 billion bank bailout, and Morgan Stanley, a product of the 1933 Glass-Steagall Act that cleaved investment and commercial banks, insisted they didn’t need to change course, even as their shares plunged and their borrowing costs soared last week.

Read moreGoldman Sachs, Morgan Stanley Become Banks, Ending an Era for Wall Street

Lehman posts $4 billion quarterly loss, plans sales

NEW YORK (Reuters) – Lehman Brothers Holdings Inc plans to sell a majority stake in its asset management unit and spin off commercial real estate holdings, hoping to restore investor confidence and ensure its survival after reporting a record quarterly loss of about $4 billion.

Shares failed to rebound on Wednesday morning after plunging 45 percent a day earlier, reflecting Wall Street disappointment that Lehman did not announce more concrete actions.

Read moreLehman posts $4 billion quarterly loss, plans sales

Lehman sinks as much as 40 percent on capital worry

NEW YORK (Reuters) – Lehman Brothers Holdings Inc shares sank as much as 40 percent Tuesday on concern that talks on a possible investment from Korea Development Bank had broken down and that the fourth-largest Wall Street investment bank would be unable to raise needed capital.

Read moreLehman sinks as much as 40 percent on capital worry

The Disconnect Between Supply and Demand in Gold & Silver Markets

There is a huge demand for both gold and silver right now in India and North America. North American shops are completely bare of silver.  Indian shops are empty of both silver and gold. Even the Indian banks don’t have any gold or silver.  The big western bullion banks, based in New York and London, control both the gold and silver trade.  Reports from India are that they are refusing to extend Indian bank lines of credit, forcing the small banks to deliver to clients, collect money, and pay down lines of credit, before being allowed to take delivery of another gold or silver shipment. This is very abnormal. Normally, if a banker’s bank knows that its customer-bank has firm orders, it would extend the smaller bank a bigger line of credit.  Not now.

By refusing to extend lines of credit, the big bullion banks are essentially rationing a very thin supply.  Most physical silver, for example, is being reserved for industrial and fabrication use, and investors are simply not able to get any, without waiting for months.  Investor oriented shops are bare, and the U.S. Mint has suspended coin production.  All available supply seems to be reserved for industrial users.  You cannot substitute paper claims for real silver, in industrial use, because paper doesn’t have the physical properties of silver.  So, it seems that all available supply is being diverted to industrial users, and, to a lesser extent, aside from the squeeze on lines of credit, also to jewelry fabricators.  But, investors are left out in the cold.  They can accept paper claims, or nothing.  The most interesting mistake that the manipulators have made is in not supplying the U.S. Mint, which has run out of silver, proving that there is a severe shortage.

Read moreThe Disconnect Between Supply and Demand in Gold & Silver Markets

WaMu has $3.33 bln loss, may be cut to “junk”

NEW YORK (Reuters) – Washington Mutual Inc, the largest U.S. savings and loan, posted a $3.33 billion second-quarter loss on Tuesday as souring mortgages forced it to set aside more money for loan losses.

The thrift’s deteriorating health prompted Moody’s Investors Service to say it may downgrade Washington Mutual to “junk” status. Shares of Washington Mutual fell in after-hours electronic trading.

Read moreWaMu has $3.33 bln loss, may be cut to “junk”

Investors are betting more than $1 trillion on a collapse in stock prices

July 21 (Bloomberg) — Investors worldwide are betting more than $1 trillion on a collapse in stock prices.

Never Have So Many Short Sellers Made So Much Money

Read moreInvestors are betting more than $1 trillion on a collapse in stock prices

Are “Dark Pools” Destined to be the Capital Markets’ Next Black Hole?

Related article:Big Traders Dive Into Dark Pools

We can almost hear that ominous “Jaws” theme music in the background and can see that huge dorsal fin as it slices threateningly through the water – knowing full well that the real terror is hidden beneath the water’s surface.

But this time around, it’s not a “Great White” that’s sparking our fears; it’s a well-capitalized and broadly based series of secret stock exchanges known as “Dark Pools of Liquidity,” “Dark Liquidity,” or just “Dark Pools.”

Most investors have never even heard the term – and are truly shocked to discover these “off-the-books” trading networks actually exist.

But to Wall Street insiders looking to anonymously move billions of dollars in stocks, bonds, and other investment instruments, dark pools are de rigueur – especially when you’re an institutional trader who doesn’t want to reveal your intentions or your actions to the “rest” of the market, until after the fact when the orders are “printed.”

And that makes these dark pools of capital highly problematic when it comes transparency: There is literally none in most pools and only limited visibility in others.

Dark Pools: From Trading Haven to Heavyweight

Dark Pools are electronic “crossing networks” that offer institutional investors many of the same benefits associated with making trades on the stock exchanges’ public limit order books – without tipping their hands to others, meaning publicly quoted prices aren’t affected. This is the capital markets’ version of a godsend – especially for traders who desire to move large blocks of shares without the public investors ever knowing.

Some examples of so-called crossing networks include Liquidnet Inc., Pipeline, the Posit unit of Investment Technology Group (ITG), or the SIGMA X unit of Goldman Sachs Group Inc. (GS).

In an era in which “secret” transactions contributed to what’s shaping up to be the largest credit crisis in history, you’d think that any mechanism that allows insiders to trade in complete secrecy and with total anonymity would be scrutinized more closely than a Roger Clemens vitamin shot. But that’s not the case with Dark Pools.

Read moreAre “Dark Pools” Destined to be the Capital Markets’ Next Black Hole?

Fannie, Freddie insolvent, Poole tells Bloomberg

(Reuters) – Mortgage lenders Fannie Mae and Freddie Mac are “insolvent” and may need a U.S. government bailout, former St. Louis Federal Reserve President William Poole was quoted as saying in an interview with Bloomberg.

“Congress ought to recognize that these firms are insolvent, that it is allowing these firms to continue to exist as bastions of privilege, financed by the taxpayer,” Poole was quoted as saying in an interview held on Wednesday.

Chances are increasing that the government may need to bail out the two mortgage companies, Poole was quoted as saying.

Shares of the two companies have taken a beating recently on worries about whether they can withstand more losses and support housing as well as concerns that they may need to raise massive amounts of new capital.

Freddie Mac shares tumbled 23.8 percent to $10.26 on the New York Stock Exchange on Wednesday, while Fannie Mae shares sank 13.1 percent to $15.31.

Related article: US: Total Crash of the Entire Financial System Expected, Say Experts

Read moreFannie, Freddie insolvent, Poole tells Bloomberg

S&P 500 plunges into a bear market

NEW YORK (Reuters) – Stocks tumbled on Wednesday, dragging the S&P 500 into a bear market, as worries about more credit losses hurt financial companies and Cisco Systems led technology shares lower after its CEO raised fears of an extended economic downturn.

The S&P closed 20 percent below its all-time high set in October, making it the last of the three major U.S. stock indexes to fall into a bear market. Stocks have been roiled for months by the credit crisis and a severe U.S. economic slowdown.

Related article: US: Total Crash of the Entire Financial System Expected, Say Experts

In the latest news to scare the market, Cisco’s (CSCO.O: Quote, Profile, Research, Stock Buzz) John Chambers told Reuters that customers of the company, which makes Internet infrastructure, see the economy picking up early in 2009 rather than later this year. At least two brokerages also cut their price targets on the stock.

Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) dropped sharply as some investors worried that the two pillars of the U.S. housing market will need to raise billions of dollars in additional capital through stock sales, diluting the holdings of current investors.

Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) shares fell more than 9 percent, after Fitch Ratings said it may cut the U.S. investment bank’s debt rating, given expected ongoing write-downs and diminished prospects for earnings.

Read moreS&P 500 plunges into a bear market

Up to 25,000 on Wall St. face the axe, report says

NEW YORK-New York City’s financial sector might only slice 15,000 to 25,000 jobs in the current downturn, which could prove shorter than the mayor has predicted, the city comptroller said.

In contrast, the financial sector that is such a vital part of the city’s economy slashed 40,200 jobs in the previous 2000 to 2003 retreat that straddled the Sept. 11, 2001 air attacks, Comptroller William Thompson said in a report.

Battered by profit-gouging subprime mortgage loans, New York Stock Exchange member firms that do business with the public lost $7.3 billion (U.S.) last year, and the current job-losing cycle that began in August 2007 should run through March 2009, Thompson added.

Read moreUp to 25,000 on Wall St. face the axe, report says

NYC Is Getting a New High-Tech Defense Perimeter.

Photo: Vincent Laforet

At the southernmost end of Brooklyn, just off Dead Horse Bay, there’s a weather-beaten helipad where the New York Police Department keeps a gray unmarked twin-engine Bell 412 helicopter. Detective Brendan Galligan ushers me aboard. “We don’t really let people see this,” he says.

We climb in behind the pilot and find ourselves facing a console with three screens: One shows a map of the city; another, an interface for checking license plates and addresses; and the third, the view from a gyro-stabilized L-3 Wescam camera attached to the chopper’s nose. The camera can see clear across the city, in both the visible and the infrared slices of the spectrum; then it can broadcast the images to police headquarters using an onboard microwave transmitter.

The helicopter, part of New York City’s antiterror arsenal, takes off and climbs to 1,000 feet in the afternoon sunshine. Passing the Verrazano-Narrows Bridge, Galligan scans for suspicious trucks lingering on approach ramps. Over the Staten Island Ferry, he explains how police routinely use the chopper to look for boats that might be trailing too closely. Then, as we swing past the gaping World Trade Center site, the 22-year veteran adjusts the joystick to turn the camera eastward, filling the third screen with the towers of lower Manhattan: the center of the center of the bull’s-eye.

The New York Stock Exchange, the American Stock Exchange, the Federal Reserve Bank, City Hall, four major bridges and tunnels — a bomb at any of these places could kill hundreds, cost the city billions, and rattle the world financial system. Al Qaeda has hit lower Manhattan twice, in 1993 and 2001, and officials say that several other plots have been broken up since.

City agencies have done their best to harden the financial district in the years since 2001. Today, explosives-sniffing dogs and two truckloads of cops wearing military-style body armor and waving M-4 machine guns surround the flag-draped stock exchange. Black metallic barriers rise out of the asphalt, blocking traffic on Wall Street, while concrete planters and strategically parked trucks keep vehicles off Broad Street. Some of the other streets surrounding the exchange have been cut off to pedestrians, and only invited guests are allowed inside. “Closed since 9/11,” the guard tells visitors.

But you can’t block off every street or have a guard by every door. There’s no budget for that, and no one would want to live or work in that kind of armed camp anyway. “You can make a justification for putting bollards in front of every building,” says a former high-ranking NYPD counterterrorism official. “But pretty soon you can’t walk anywhere. People leave.”

So New York has an audacious blueprint to wrap a high tech cloak around lower Manhattan. It will provide the most sophisticated armor of any major urban area in the world — one that relies on brains as much as brawn, on barely visible technology as much as brute stopping power. And the chopper I’m in will be just a small piece of it.

Read moreNYC Is Getting a New High-Tech Defense Perimeter.

Big Traders Dive Into Dark Pools

The alternative trading systems are luring big institutional customers by offering greater privacy and lower costs. Their growth could affect big exchanges.It’s not easy being a big player in the stock market. Trading huge quantities of stock on traditional exchanges has become ever more challenging, costly, and potentially disruptive. And if other players see your moves, they can disrupt your trades. That’s led to the emergence in recent years of alternative trading systems known as dark pools. And their growth could have significant implications for big stock exchanges-and individual investors.

Read moreBig Traders Dive Into Dark Pools

Endgame: Unregulated Private Money Creation

The Financial Tsunami, Part IV.What had emerged going into the new millennium after the 1999 repeal of Glass-Steagall was an awesome transformation of American credit markets into what was soon to become the world’s greatest unregulated private money creation machine.

The New Finance was built on an incestuous, interlocking, if informal, cartel of players, all reading from the script written by Alan Greenspan and his friends at J.P. Morgan, Citigroup, Goldman Sachs, and the other major financial houses of New York. Securitization was going to secure a “new” American Century and its financial domination, as its creators clearly believed on the eve of the millennium.

Read moreEndgame: Unregulated Private Money Creation