The Ripple Effect
What seemed at first a little ripple out here in the middle of the sea
could have the potential to effect the whole country if people let it happen.
The ripple effect is one way we, the people of Hawaii, can attempt to
tell the rest of the country about the way the Asian influenced financial
world of Hawaii could cost you and your children every penny in your bank.
Hawaii’s political powerbrokers led by Hawaii (D) Senator Dan Inouye have
been very busy manipulating the financial world from Wall Street to the White
House. Inouye knew Wall Street could be had if he were able to get a big
powerhouse brokerage firm like “Goldman Sachs” to make a market for one or
two of his big Asian banker friends, like Mochtar Riady’s Lippo Group (who
was the center of the “Chinagate” investigation) and his brother-in-law
Mumin Ala Gundawun, who controls Xiamen International Bank. Other Chinese
Indonesians like Atang Latief and his former son-in-law Sukarman Sukamto
played a big role in the “high finance” world that has dominated Hawaii
and Hawaii politics for decades. Latief, for example, was credited with
controlling 10 offshore banks in Hong Kong.
The $6 billion Kamehameha Schools Trust provided the financial “brick and
mortar” used to build the bridge that would span the gap between Asia and
U.S. capital markets. The Democratic Party controlled Kamehameha Schools Trust
spent $500 million to purchase 10% of Goldman Sachs stock.
Central Pacific Bank (CPB) is recognized as Hawaii’s local Japanese bank.
Its Chairman, lawyer-politician Sakae Takahashi, was also the head of the
failed industrial bank, Manoa Finance. By 1983, 9 of 20 Industrial banks in
Hawaii failed costing taxpayers $29 million. That’s when the Hawaii
Democratic machine appointed Senator Dan Inouye’s aide, Ms Donna Tanoue, as
the Hawaii Bank Examiner. She white-washed the 1983-5 Hawaii bank scandal by
commenting, to news reports of a run on one state’s industrial banks saying
that that couldn’t happen in Hawaii. That comment was countered by a local
banker who said that the reason it wouldn’t happen here is that it already
did. Senator Inouye’s most valuable asset is $500,000 worth of CPB stock.
CPB is the Hawaii affiliate of Sumitomo Bank of Japan. Sumitomo owns
approximately 10% of Goldman Sachs. It is interesting to note that when the
value of Goldman Sachs stock increased after they went public; the fortunes of
the affiliates likewise increased. Kamehameha Schools original $500 million
investment tripled.
In 1993, $10 million of the Kamehameha Schools Trust funds were
conveniently appropriated to buy Goldman Sachs stock held by Robert Rubin and
this was done so that Goldman Sachs, co-director Rubin, could be appointed as
President Clinton’s Secretary of the Treasury. The move was made to remove
any financial link between Rubin and Goldman Sachs. There are numerous reasons
why this was done, but the most obvious reason is that when Goldman Sachs went
public a lot of people stood to make money; and, if the Secretary of the
Treasury owned stock in the company that could be viewed by some as a conflict
of interest; based on securities laws regarding insider-trading.
Goldman Sachs was the biggest privately held partnership on Wall Street
and, as such, they were in the position to “make a market” for companies
that wanted to be listed on the N.Y. stock exchange. Kamehameha Schools’
lead investment trustee, Henry Peters, stated that they were going to put
Xiamen International Bank on the N.Y. stock exchange. This was a plan to
create a conduit allowing the American public’s capital to flow through to
their business partners in Asia, in some cases subsidizing a communist regime.
The Clinton appointment of Rubin as Secretary Treasurer was the other link to
Hawaii’s financial and banking world.
If the media coverage of “Chinagate” is correct, and the lingering
question is whether or not illegal foreign monies were contributed to the
Clinton / Gore Presidential campaign of ’96 and why, This may be the answer.
FBI Investigates Hawaii Democratic Party
According to news reports, Nora and Eugene Lum were dispatched by the
Hawaii Democratic Party to meet with Bill Clinton. The purpose of the visit
was to seek the Presidential candidates help in pulling the plug on an FBI
investigation of Hawaii’s (D) Governor John Waihee. The Lums admitted to FBI
investigators looking into allegations that arose during the “Chinagate”
investigation that after Clinton was elected, Webster Hubbell (3rd
man in the Justice Dept. during the early days of the Clinton administration)
pulled the plug.
The Pebble
The pebble is not made of stone; this pebble is weighted by the effects
that the losses of one bank can cause other banks that are linked financially
by the Federal Deposit Insurance Corporation (FDIC). The pebble is actually
two banks, Pacific Century, formerly known as Bank of Hawaii and BancWest
which is the former 1st Hawaiian Bank. The financial problems of the two banks
are based on loan losses and other yet to be disclosed financial problems. One
area of the banks operations that have recently come under attack is the bank’s
corporate trust fund division. Trust fund beneficiaries claim the banks are
loosing money not making money for their family trust funds.
The beneficiaries also claim the banks are not managing their properties in
a manner that one would expect them to. They cite questionable relationships
between bank trust employees and big, politically connected Asian companies,
and the way they have affected their equity. If this trend were to continue
and become status quo across the country, than people should beware of the
fall-out.
The Clinton / Gore link to Hawaii’s bank scandal surfaced in the news in
1999. There is sufficient evidence to suggest that people should be aware of
the fact that President Clinton recommended the appointment of Ms Donna Tanoue
to the powerful position of chairman of the Federal Deposit Insurance
Corporation (FDIC). Her appointment comes at a time when Hawaii’s two big
banks are expanding throughout the Pacific-Rim, Asia and the western part of
the U.S.
The FDIC is the federal agency that provides the over-view during a banks
expansion process. That means the FDIC is supposed to make sure one bank has
the financial capacity to buy out another bank. Hawaii’s politically
connected banking industry has continually worked to lesson the standards they
set for the banks in Hawaii. That makes it easier for the lawyer politicians
to protect their clients the banks.
All of Hawaii’s Democratic Party leadership are integrally linked to
Hawaii’s two big banks. Hawaii’s former (D) Governor George Ariyoshi is
one example of this trend. His connections with the big banks here in Hawaii
and Asia began when he was appointed as the first Asian to serve on the board
of directors of Bishop Bank, which would become 1st Hawaiian Bank.
In 1970, just before he ran and was elected as the Lieutenant Governor of
Hawaii, Ariyoshi, and other high ranking fellow Democratic Party legislators
Sakae Takahashi and John Ushijima and others killed a Bank Examiner Bill which
would have created more stringent guidelines for the banking industry here in
Hawaii. This is the same tactic Ms Tanoue has implemented during her tenure as
the Chairman of the FDIC. During her tenure, the FDIC has lost money because
banks have failed, and the reason cited by many is the lessening of standards
of the FDIC.
There is one other interesting aspect of the Clinton / Gore link to the
Hawaii bank scandal that is unfolding. It revolves around the fact that the
local Democratic Party would not be able to be a part of this “high stakes”
international financial game if they did not control the assets of the
Hawaiian people.
Ripping-off the Hawaiians
Hawaii’s (D) Senator Daniel Akaka led by (D) Senator Daniel Inouye has
introduced a Bill (S. 2899 and HR 4904) designed to allow the Hawaii
Democratic Party to maintain control of the vast fortunes of the Hawaiian
people so that they can be used to further their own schemes. The Bill was
drafted by the powerful Washington D.C. law firm of Verner Liipfert Bernhard
McPherson Hand and the head of their Hawaii office, former (D) Governor John
Waihee.
I am talking about the so-called Akaka Bill. This brainless piece of Lawyer
Trash was designed by Dan Inouye. Lets face it, he is not out to help the
Hawaiians. He’s out to help his friends in Japan and China, and his Bill is
no more than a cleverly devised plan to maintain control of Hawaiian resources
and revenues. The accumulated assets of the Hawaiian people could possibly
rank them amongst, the richest people of the world; right along side of the
Kuwaitis, and other people whose natural resource have become valuable
according to the economics of today’s world. The availability of natural
energy resources alone could realistically provide the funding sources for
start-up businesses throughout the state.
The point is that Hawaiians don’t need other revenue sources or credit to
prevail. The revenue from the resources that the State has already identified
will provide all of the capital that new businesses like farms or ranches,
shops and services and all the myriad ideas that are available to people today
require.
The Bill would make Hawaiians wards of the Federal government like American
Indians under a “nation within a nation” status. The authors of the Bill
would have you think that only they have the ability to determine what is best
for you. Their rules, their regulations and their ability to conform. If one
were to really analyze the situation, you would realize that they are wrong
and that they have created a financial catastrophe. A battlefield of broken
families, homes, the credibility of our ordinary people and our lives. We are
not stupid people we understand the difference between theft and giving. The
powers that be are attempting to cloud the waters again.
The Akaka Bill positions the United States in the role of stewards of the
Hawaiian nation, What the bill does not say, is that the local Democratic
machine will be emphasizing a local Asian based attitude toward the rules
regulation that exist today, and conformity versus Hawaiian communal value.
The Bill suggest that they are better equipped to manage change, but a system
that mistakes managing change with muffling it engages in illusion.
The result is to allow irresistible pressures to build to disastrous
proportions; this for the people of the United States is the reality check as
we move into the new millennium.
Greg Wongham
The thoughts and message above must be transmitted to the media. I am
trying to get a couple of hundred people together to get this idea across to
the media and the people who bank in the 1,100 banks, savings and loans and
credit unions that are insured by the FDIC. This affects every man, women and
child who deposit their money in every bank across the country.
