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To: lorne who wrote (31154)	4/4/1999 10:40:00 AM
From: long-gone	Read Replies (2) \| Respond to of 116766

I told everyone, a big part of why the US is involved (right now) in the War in Kosovo is a Wag the Dog to cover Clinton.

To: lorne who wrote (31154)	4/4/1999 2:41:00 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 116766

Spkg o'Clinton & Funds, I thot FDIC backed off KYC rules too easy. READ: Here's what's going on in the fight against "Know Your Customer" regulations: 1) FDIC & other agencies withdraw Know Your Customer rule -- but KYC lives on in the Bank Secrecy Act As anticipated, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency, Office of Thrift Supervision, and the Board of Governors of the Federal Reserve (the "Agencies") officially voted on March 23, 1999 to withdraw their proposed Know Your Customer rule. This means that, thanks to your help, we have won Round One of the fight. However, in a statement released after the meeting, the Agencies reaffirmed their "...long-standing support for the anti-money laundering provisions of the Bank Secrecy Act." As it turns out, the Bank Secrecy Act compliance manual of the Federal Reserve still requires banks to implement a Know Your Customer program, even though the new KYC regulation has been withdrawn. (Check out the "spy manual" on their web site, bog.frb.fed.us According to a recent survey by the American Bankers Association, over 88 percent of US banks already have Know Your Customer policies in place. In early March, the ABA called on regulators to not only withdraw the proposed Know Your Customer rule, but to dismantle the existing requirements of the Bank Secrecy Act as well. Rep. Ron Paul (R-TX) has introduced HR 518, The Bank Secrecy Sunset Act, which would repeal the existing Bank Secrecy Act reporting requirements that led to Know Your Customer. (See #4 below.) 2) Assistant Director of Federal Reserve Board says Know Your Customer is NOT dead. A banker who attended the Mid Atlantic Compliance Conference March 18-19 reported the following comments by Richard Small, Assistant Director of the Federal Reserve System, at a session on KYC: "Is Know Your Customer dead? No, I don't think it is dead. Do I think there will be a regulation? No. I would like to develop some broad based guidance [but] no one is going to let me talk about it for six months." Small went on to say that they would have to repackage it differently, such as "Enhanced guidance for reporting suspicious activity." He said they'll have to be careful how they re-package it, saying, "It's a marketing issue." He indicated that any future proposal would not be called "Know Your Customer" and would not use the phrase "customer profiling." ********************************** Reminds me of the Jimmy Stewart movie, "Mr. Spin Goes to Washington *GRRRRRRRRRRRRRRRRRRRRRRRRRRRrrrrrrrrrrrrrrrrrrrrrrrrrrrrr!* ******************************** Quote of the week - Editorial, Indianapolis Star "That such a rule [KYC] would even have been proposed should be of great concern to every freedom-loving American. "These are the tactics employed in socialist countries such as China and the old Soviet Union where the denial of personal privacy, individual property and freedom of speech are fundamental tools for the economic and political control of large captive populations. "Fortunately, many Americans were outraged at this proposal. Much of the credit must go the the Libertarians. Of some 253,000 e-mail messages, letters, and faxes to the FDIC, more than 170,000 were ... generated by the party's [Libertarians] DefendYourPrivacy.com Web site." ************************************ First I've heard of this one; sounds like a KEEPER URL t'me, folks.**