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EU Affairs

Vladimir Putin rolls out the red carpet for visit of President Xi Jinping

[UK Independent]

Russian premier gives unprecedented welcome to new Chinese leader as relations thaw

Clifford Coonan | Hong Kong

Friday 22 March 2013

China’s new leader began his first overseas trip as president with a much anticipated visit to Russia today – a symbolic trip that underlines China’s desire to ensure its energy supply while showing defiance in the face of US influence in Asia.

A grand reception was held to welcome President Xi Jinping upon his arrival in Moscow, with guards riding on horseback brought out to greet a foreign leader for the first time. Kremlin guards snapped to attention as Mr Xi and his long retinue walked into the gilded, chandeliered Grand Kremlin Palace, where they met members of official delegations in the ornate St George Hall before sitting down for talks.

“China and Russia are the main and most important strategic partners,” Mr Xi told Russian media upon his arrival. He said he was eagerly anticipating his meeting with Russian President Vladimir Putin. “In many ways we speak a common language,” he said.

The grand welcome was a clear indication of the importance placed on the visit by Moscow. Russia is one of the world’s biggest energy producers, and China is the top energy consumer. These realities tend to outweigh the traditionally tense relations between the two neighbouring giants, who were bitter rivals during the Soviet era despite their ideological links.

Russia has watched China’s rise with concern, anxious that it might someday threaten its dominance on its eastern borders. But a bigger concern for the Kremlin, one that it shares with China, is blunting US influence in the region. At the start of talks, Mr Putin described the ties between the two countries as an “extremely important factor of global politics.”

Ahead of Mr Xi’s arrival, he said: “We are working together, helping to shape a new, more just world order, ensure peace and security, defend basic principles of international law.”

Mr Xi said that the relations between the two countries are the best ever.

In recent years, the need to counterbalance the growing might of the US has led to the two to set aside some  differences. Strong trade links have also smoothed some of the wrinkles in the interim, with bilateral trade soaring to a record £58bn last year.

Beijing and Moscow have taken similar stances on some of the biggest geopolitical issues of recent years, from North Korea to Iran to Syria, often voting in concert to veto punitive sanctions by the UN Security Council.

Many analysts believe their relationship is likely to strengthen, especially as the United States tries to expand its influence in Asia, and both countries are firm in rejecting Western criticism of their human rights records.

The two leaders are expected to discuss Syria and North Korea, but the economy is likely to dominate.

Shortly before Mr Xi arrived in Russia with first lady Peng Liyuan, a £1.3bn deal was announced by Russian and Chinese companies to develop coal resources in eastern Siberia. Russia also sees China as a way to diversify its energy markets away from Europe and it is keen to tie up a potentially enormous gas deal which could eventually see almost 70 billion cubic metres of gas pumped to China annually for the next 30 years.

Mr Xi’s tour continues until March 30 and he will also visit Tanzania, South Africa and the Republic of Congo. In South Africa he will attend the fifth BRICS summit.

The five key emerging economies that make up BRICS – Brazil, Russia, India, China and South Africa – have become an increasingly important channel for China and Russia to counter growing US influence.

BRICS countries hold reserves totalling £3 trillion, most of them held by China, and China now accounts for 20 per cent of Africa’s exports.

China surpassed the US and Europe as Africa’s largest trading partner in 2009 and has maintained its leading place in the years since.

China’s First Lady: A new role model

In China, the big news about Xi Jinping’s first trip as president has not been about energy, investment or BRICS, but rather about his wife Peng Liyuan’s first public appearance as first lady.

Ms Peng is a hugely popular figure in China, indeed, she was probably better known than him until recently, and adored by millions for her stirring renditions of folk tunes in army uniform or ethnic costume.

“Peng Liyuan has a very positive meaning for China. China needs a female role-model. Imagine what would it be like if China had a First Lady like Michelle Obama?” wrote one online fashion commentator.

Since the cult of personality that built up around Chairman Mao Zedong, the Communist Party has sought to avoid making its leaders too personal. Solid, dull technocrats have run the show, and their wives have been even less visible.

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Voter fraud monitors on high alert for Election Day

[FoxNews.com]

Published November 05, 2012

voting_indiana_110512.jpg

Nov. 5, 2012: Early voters mark their ballots in Indianapolis. (AP)

With Election Day polls set to open in mere hours, those monitoring the vote for fraud and funny business are already on high alert.

Late last month, the state of Florida raised flags after strange letters started to go out telling voters that their citizenship was being questioned and that voting could expose them to possible jail time.

Then in Ohio, Nevada and other battlegrounds, reports surfaced of voters trying to make their choice for president on touch-screen machines only to see the machine register a different candidate. Typically, they voted for Mitt Romney and the machine marked President Obama.

Among the latest allegations is that NAACP workers showed up at a polling site in Houston “electioneering” for Obama and refused to leave — though the NAACP adamantly denies it.

The incident was detailed by a poll watcher for the group True the Vote. In a written statement, monitor Eve Rockford claimed NAACP representatives arrived at the Houston site Friday afternoon “with probably 50 cases of bottled water” and began handing them out to voters.

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Shock poll: Obama could lose Illinois, Romney leads in Chicago suburbs

[DailyCaller.com]

1:31 AM 08/20/2012
Posted: October 30, 2012
Alexis Levinson

Political Reporter

President Barack Obama could lose his home state of Illinois in November, a new poll shows.

A poll conducted by Illinois-based pollster and political strategist Michael McKeon found Obama leading Republican Mitt Romney by 49 percent to 37 percent in Cook County, the home of Chicago. That puts him ahead by a far thinner margin than expected in a county he should be winning handsomely.

Cook is the most Democratic leaning county in the state. It is also the most populous.

Those numbers do not bode well for the president.

“He has to come out of Cook County with a big lead or he’s gonna have problems downstate,” explained McKeon, who said that based on the numbers he had seen, Obama polled only in the forties in downstate Illinois.

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Here Are 11 Incredible Pictures From Sunday’s Edge-of-Space Skydive

[TheBlaze.com]

Felix Baumgartner Red Bull Stratos Skydive

For months TheBlaze has been talking about Felix Baumgartner and his anticipated, record-breaking skydive from the edges of space, for which he has been preparing himself for the last five years. After the stratosphere jump was delayed due to weather concerns in the New Mexico last week, Baumgartner successfully (and safely) took on the challenge Sunday.

Here is the stats breakdown of his Red Bull Stratos project jump and accomplishments:

  • Jump Height: 128,100 feet (24.26 miles; the Karman Line, which is usually used as the boundary between Earth and space, lies at 62 miles above sea level)
  • Time Free Falling: 4:20 minutes
  • Distance in Free Fall: 119,846 feet (22.7 miles)
  • Top Speed: Mach 1.24 (faster than the speed of sound)
  • Records:
      Highest jump
    Fastest ever free fall
    Highest manned balloon flight

Although the numbers are impressive, the pictures show the what the stats simply can’t. Here are some of the best images:

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Romney to deliver foreign policy speech amid big questions on Libya, global economy

[FoxNews.com]

Published October 07, 2012

romney_orlando_062112.jpg

FILE: June 21, 2012: Mitt Romney campaigns in Orlando, Fla. (AP)

Republican presidential candidate Mitt Romney is set to give a foreign policy speech Monday that will mark one of his final opportunities before Election Day to show his potential as a world leader — amid political turmoil in the Middle East and economic collapse in Europe.

Romney’s success on foreign policy has thus far have evolved towards good reviews. He has drawn widespread praise from conservatives and fellow Republicans for his full support of Israel’s quest to stop Iran from achieving nuclear capability.

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Official Accounting: $10T Withdrawn From U.S. Treasury This Fiscal Year Alone

[CNSNews.com]

Treasury Secretary Timothy Geithner (AP Photo/Evan Vucci)

(CNSNews.com) – Although the Congressional Budget Office estimates that the federal government will spend $3.563 trillion in fiscal year 2012 and the White House Office of Management estimates it will be $3.795 trillion, actual withdrawals from the U.S. Treasury have already exceeded $10 trillion.

In fact, as of the close of business Wednesday, withdrawals from the Treasury equaled $10,201,615,000,000 for fiscal 2012, which began on Oct. 1, 2011 and will end on Sept. 30.

According to the Daily Treasury Statement–the official daily accounting sheet for the federal government—withdrawals from the Treasury exceeded $10 trillion this year on Aug. 30, when they rose from $9.903 trillion to $10.035 trillion.

How can this be?

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What? ABC Indignantly Chides Romney’s U.K. Trip: Advisers Question President’s ‘Heritage’

[Newsbuster.org]

By Scott Whitlock | July 26, 2012

Scott Whitlock's picture

ABC kicked off Mitt Romney’s visit to London, Thursday, by hyping “controversial” comments from the candidate’s advisers. A Good Morning America graphic adopted the worst possible interpretation for remarks by anonymous Romney aides that the President doesn’t respect the “Anglo-Saxon heritage.” The network graphic blasted, “Romney Takes London: Advisor Quote Questions Obama Heritage.”

Saying that Romney aides “questioned Obama’s heritage” hints at birtherism or other charges that the operatives clearly did not make. Reporter David Muir included the quote from one adviser who suggested that the White House “doesn’t fully appreciate the shared history” Britain and America have. Other remarks, not mentioned by Muir, include attacking Obama as a “left-winger” and promising to return the bust of Winston Churchill. How, exactly, do these comments question Obama’s heritage?

Parroting the Democratic line, Muir quoted a tweet by David Axelrod: “Mitt’s trip off to flying start, even before he lands, with stunningly offensive quotes from his team in British press.”

Perhaps trying to lower Romney in comparison to Obama, Muir reminded viewers of the Democrat’s 2008 tour of Europe: “A trip that will inevitably be compared to then-candidate Barack Obama’s overseas trip four years ago. A thick crowd of two hundred thousand in Berlin.”

Muir has a pattern with this. On July 1, he hyped Obama’s Bain attacks, insisting that the Republican “can’t escape” attack ads.

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Sarkozy, Hollande Progress as Poll Shows Le Pen Wins 20% of Vote

[Newsmax.com]

 © 2012 Thomson/Reuters.

Posted: April 23, 2012

Socialist Francois Hollande and President Nicolas Sarkozy progressed to the second round of France’s presidential election as a record vote for the anti- immigrant National Front left the contest open.

Hollande got 28.4 percent of the first round of voting and Sarkozy won 25.5 percent, according to polling company Ipsos. The anti-euro Marine Le Pen won 20 percent, surpassing all recent opinion polls, the company said. Communist Party-backed Jean-Luc Melenchon got 11.7 percent, and self-styled centrist Francois Bayrou got 8.5 percent, said Ipsos.

But Le Pen’s record score of 19.6 percent was the sensation of the night, beating her father’s 2002 result and outpolling hard leftist Jean-Luc Melenchon in fourth place on 11 percent. Centrist Francois Bayrou finished fifth on less than 9 percent.

It was the first time a sitting president seeking re-election had been beaten into second place in the first round. But Sarkozy backers at his campaign headquarters chanted “We are going to win”, interpreting Le Pen’s score as more significant than Hollande’s narrow lead over the incumbent.

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Gallup: Santorum Opens Dougle-Digit National Lead Over Romney, 36 to 26

[CNSNews.com]

Former Sen. Rick Santorum of Pennsylvania speaking to the Ohio Christian Alliance in Columbus, Ohio, on Feb. 18, 2012. (AP Photo)

(CNSNews.com) – Former Sen. Rick Santorum of Pennsylvania has opened a double-digit lead over former Massachusetts Gov. Mitt Romney in Gallup’s national tracking poll of the Republican presidential race.

In the five-day polling period ending on Sunday, Feb. 19, Santorum was first with 36 percent, Romney was second with 26 percent, former House Speaker Newt Gingrich was third with 13 percent, and Rep. Ron Paul of Texas was fourth with 11 percent.

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Gingrich to get another $10 million from casino backer – sources

[CBSNews.com]

POLITICAL HOTSHEET

February 17, 2012

By: Laura Strickler

Billionaire tycoon fueling Gingrich campaign ads[Sheldon Adelson, left, and Newt Gingrich, right]

UPDATED 11:38 a.m. ET — H/T DrudgeReport.com

Former House Speaker Newt Gingrich’s faltering campaign is about to get another shot in the arm, CBS News has learned.

Billionaire casino magnate Sheldon Adelson plans to give another $10 million to the outside group backing the former Georgia lawmaker who is running behind former Massachusetts Gov. Mitt Romney and former Pennsylvania Sen. Rick Santorum in the race for the Republican presidential nomination, a source close to Adelson told CBS News.

Adleson and his family have already given $11 million to “Winning our Future,” the super PAC backing Gingrich. The group, which bombarded the airwaves in South Carolina last month ahead of the primary there, is largely credited with helping Gingrich win in the Palmetto state.

The latest $10 million cash injection would raise the Adelson family’s contribution to $21 million, and a different source close to Adelson said he is prepared to drop another $4 million for a total of $25 million. The Huffington Post calculated that the billionaire casino owner earns about $3.3 million an hour.

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Israeli Facilities in U.S., Worldwide on High Alert Against Iran

[Newsmax.com]

Friday, 03 Feb 2012 04:10 PM

By Newsmax Wires

Israeli facilities worldwide are on high alert against an attack from Iran, according to an internal security document obtained by ABC News.

“We predict that the threat on our sites around the world will increase … on both our guarded sites and ‘soft’ sites,” read a letter by the head of security for the Consul General for the Mid-Atlantic States, ABC News reported. Guarded sites are government facilities like embassies and consulates; “soft sites” are Jewish synagogues, schools and community centers.

Police and intelligence officials in U.S. and Canadian cities — including New York, Los Angeles, Philadelphia, and Toronto — have increased patrols at Israeli government locations and Jewish institutions, ABC News reported.

The United States and Israel, meanwhile, are publicly disagreeing over timing for a potential attack on Iran to prevent it from acquiring nuclear weapons, Bloomberg News reported.

“There’s a growing concern — more than a concern — that the Israelis, in order to protect themselves, might launch a strike without approval, warning or even foreknowledge,” Aaron David Miller, a former Mideast peace negotiator in the Clinton administration, said Friday.

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Sen. DeMint: ‘A Balanced Budget Amendment Would Effectively Put the Democratic Party Out of Business’

[CNSNews.com]

Jim DeMintSen. Jim DeMint (R-S.C.) (AP Photo)

(CNSNews.com) – Sen. Jim DeMint (R-S.C.) said Tuesday that the Democratic Party would “effectively” be “put out of business,” if Congress were to pass a balanced budget amendment to the U.S. Constitution.

“They can’t work with us on balancing the budget,” DeMint said. “Their whole platform is based on more promises from government and more government spending.

“A balanced budget Amendment to the Constitution would effectively put the Democratic Party out of business, because campaigns could no longer be based on all the promises of what else that government is going to do. Whether it’s partnering with businesses or redistributing wealth, it doesn’t work in a scenario where we have to stop spending.”

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Final SC Poll: Gingrich 37, Romney 28, Santorum 16, Paul 14; 77% Have Unfavorable View of Media

[CNSNews.com]

 Rick Santorum, Mitt Romney, Newt GingrichFormer Sen. Rick Santorum, former Massachusetts Gov. Mitt Romney, and former House Speaker Newt Gingrich at a presidential debate in Myrtle Beach, S.C., on Jan. 16, 2012. (AP Photo)

(CNSNews.com) – A poll of 1,540 likely South Carolina Republican primary voters completed on Friday night had former House Speaker Newt Gingrich leading former Massachusetts Gov. Mitt Romney, 37 percent to 28 percent. The poll put former Sen. Rick Santorum of Pennsylvania in third with 16 percent, and Rep. Ron Paul of Texas in fourth with 14 percent of the vote.

The poll was conducted Jan 18-20 by Public Policy Polling, a Democratic polling company based in Raleigh, N.C. It was done through automated telephone calls.

In just the polling done on Friday night, Gingrich actually led Romney, 40 percent to 26 percent.

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THE FEDERAL RESERVE CARTEL: (Part 1) THE EIGHT FAMILIES

[LibertyNewsOnline.com]

By: Dean Henderson

January 20, 2012

(Excerpted from Chapter 19: The Eight Families: Big Oil & Their Bankers in the Persian Gulf… Part one of a five-part series)

The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP Amoco and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch.

According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation. [1]

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A Prayer in Carolina

American [Spectator.org]

By on 1.16.12 @ 6:09AM

Santorum brings a positive message of faith to the Palmetto State.

MYRTLE BEACH, S.C. — Political ads are now running almost constantly during the commercial breaks on TV here, and most of them are attack ads. Mitt Romney’s “super PAC” Restore Our Future is attacking Newt Gingrich and Gingrich’s “super PAC” Winning Our Future is attacking Romney. And, as if to validate his newfound status as a contender for the Republican presidential nomination, Rick Santorum is now being attacked in TV ads, one by Ron Paul’s campaign and another by Romney’s “super PAC.”

Asked about one of those ads during a town-hall event in Florence on Sunday, Santorum struggled to find words for the pro-Romney PAC’s ad, which accuses him of wanting to extend voting rights to felons. “That is a lie,” the former Pennsylvania senator said at Percy & Willie’s restaurant. “To go and mislead the people of South Carolina as to what our record is on this is just… yuck. I expect that from Barack Obama. I don’t expect it from a Republican running for president.”

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Former UN ambassador says nuclear threat is now a ‘clear and present danger’

[DailyMail.co.uk]

Iran warns Saudi Arabia not to help the West

  • Magnetic bomb killed scientist in Tehran last week – the FIFTH attack in two years
  • Iran blames US, Israel, and Britain for attacks
  • US military official heads to  Israel Monday for talks

By Daily Mail ReporterLast updated on 16th January 2012

Former U.S. ambassador to the United Nations John Bolton has warned a report that Iran is a year away from being able to build a nuclear bomb may be too optimistic.

In a radio interview today, he said: ‘I worry the publicly available information is giving only a very small picture and that Iran is actually even much further along.’

Negotiations: Saudi Arabia's King Abdullah, right, talks with British Prime Minister David Cameron, far left,

Negotiations: Saudi Arabia’s King Abdullah, right, talks with British Prime Minister David Cameron, far left, 

John Bolton with U.S. Republican presidential candidate Mitt Romney, has warned of Iran’s nuclear capability. (Photo below)

The former ambassador was asked about a statement from a former head of U.N. nuclear inspections claiming Iran is now just a year or so away from having enough enriched uranium to assemble a nuclear bomb.

Olli Heinonen wrote in an article published earlier this week that Iran made this advancement after switching production of its higher-grade enriched uranium to a new, underground site.

Reacting to the one-year timeline, Mr Bolton stated: ‘I think it can be even less than that.’

He continued: ‘They’ve got, by publicly available information from the International Atomic Energy Agency, enough low-enriched uranium that if enriched up to weapons grade would be enough for four weapons.’

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Socialist Party USA to Rick Perry: Stop Calling Obama a Socialist!

[TheBlaze.com]

The socialist label attached to President Barack Obama’s name has been floating around for some time. On Sunday, it re-emerged when Texas Gov. Rick Perry made the familiar accusation during the NBC News GOP presidential debate in New Hampshire.

“I make a very proud statement, and of fact, that we have a president who is a socialist,” Perry said Sunday. “I reject the premise that Obama reflects our founding fathers. He doesn’t.”

Authorities on the matter are now taking aim at Perry’s “fairy tale” claims.

[Editor: Excuse me, Gov. Perry is calling a Marxist a Socialist!  That's the Truth. We agree he should NOT stop call Obama a Socialist.]

“The notion that Barack Obama is a socialist ranks among the greatest fairy tales in American society — right up there with the Easter Bunny, Santa Claus, and the idea that if you work hard enough your children will live a better life than you,” Socialist Party USA spokeswoman Lynn Lomibao said in an email to The Huffington Post.

“Socialists know what Obama is: another corporate funded politician placed in the White House to protect the wealth and status of the 1 percent,” the e-mail continued. ”When Americans needed a solution to mass unemployment, Obama gave away billions in cash to bail out the banks. When Americans needed a single-payer healthcare system, Obama promoted a pro-health insurance healthcare ‘reform’ package that forced millions into junk healthcare plans subsidized by public funds. And when American workers asked for the right to join a union without employer harassment through the Employee Free Choice Act, Obama showed who he really answers to by betraying the promises he made to working people during his campaign.”

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Occupier Alleges Leaders of Occupy Wall Street Housing Group Abused Rape Victims

Lee Stranahan

[BigGovernment.com]

Posted Jan 10th 2012 at 10:09 am

by Lee Stranahan

Even though the #Occupy movement has been kicked out of parks across the nation, apparently the sexual assaults continue. An online petition and other discussions reveal accusations of people within the #Occupy movement allegedly ignoring and abusing rape victims and contains shocking details about how assailants continue to be let back into Occupy, a trend that Brandon Darby and I discovered during an interview at Zuccotti Park in early November.

The online petition posted at iPetitions.com was posted by Strong Women Rule, the group formed by Nan Terrie. Big Government recently revealed that Ma. Terrie has been attacked by other Occupy leaders as a “disruptor” for trying to expose assault, theft and alleged financial malfeasance at Occupy Wall Street. Apparently, Ms. Terrie is disrupting the Occupy illusion again.

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Video: Occupy DC protesters react to Time magazine’s POTY

[HotAir.com]

posted at 8:30 pm on December 23, 2011 by Tina Korbe

One protester caught the irony: Time magazine is itself a part of a media conglomerate (a.k.a. a corporation, the 1 percent, the Man, the Machine). To be honored by them, then, the lone protester said, is actually a “slap in the face.”

The rest of the protesters? They were just elated — some to the level of profanity, others to the level of a meta-meta-meta moment, still others to the level of tears. It’s touching, really: These people who never knew what it was, exactly, that they set out to accomplish take validation from Time magazine as evidence that they did, in fact, accomplish it.


RyanAir CEO Slams EU at EU Innovation Summit

American (Spectator.org)

By on 12.19.11 @ 4:46PM

Politicians and bureaucrats in the European Union were treated to a verbal lashing for their cronyism and anti-entrepreneurism by Michael O’Leary, CEO of airline RyanAir, at a conference held by the EU on “innovation.”

The CEO started his remarks tearing down the European ruling class for protecting inefficient airlines that charge too much money for useless services. For this speech to come from someone in Europe, let alone at a summit at the EU, is a conservative dream.

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Syrian Violence Spills Over Into Jordan, Leaving At Least 2 Diplomats Hurt in Embassy Attack

[FoxNews.com]

Associated Press

Published December 11, 2011

syria_jordan_reuters

Reuters – Dec. 9, 2011: Syrians living in Jordan shout slogans during a demonstration against Syrian President Bashar al-Assad after Friday prayers in front of the Syrian Embassy in Amman.

BEIRUT –  Syrian troops battled army defectors Sunday in clashes that left several military vehicles in flames.

The fighting and other violence around the nation killed at least five people, activists said.

For the first time, an act of violent protest against President Bashar Assad’s regime spilled across the border into Jordan, where about a dozen Syrians attacked their embassy Sunday in the capital, Amman, wounding at least two diplomats and four other consulate employees.

The 9-month-old uprising against Syria’s authoritarian President Bashar Assad has grown increasingly violent in recent months as once-peaceful protesters take up arms and rebel soldiers joining the uprising fight back against the army. The U.N. says more than 4,000 people have been killed since March.


Cleric Allegedly Bans Women From Touching Bananas and Cucumber: Because They’re Too Sexual

[TheBlaze.com]

Photo credit: Flickr user sergeant killjoy

An Islamic cleric in Europe has reportedly ruled women should be forbidden from touching — or even being near — bananas and cucumbers because their oblong shapes can make women think of sex.

Egyptian news site Bikya Masr:

The unnamed sheikh, who was featured in an article on el-Senousa news, was quoted saying that if women wish to eat these food items, a third party, preferably a male related to them such as their father or husband, should cut the items into small pieces and serve.

He said that these fruits and vegetables “resemble the male penis” and hence could arouse women or “make them think of sex.”

He also added carrots and zucchini to the list of forbidden foods for women.

According to Bikya Masr, the sheik was asked how to “control” women when they are out grocery shopping, and whether even holding the fruits and vegetables at the store would be bad. The cleric said the matter is between them and God.

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Report: Corzine Ignored Warnings on Eurozone Bets From Chief Risk Officer

[FOXBusiness.com]

December 6, 2011

Written By

As Jon Corzine was directing his company to take more than $6 billion in bullish positions in risky European sovereign debt, the former MF Global CEO reportedly ignored prophetic warnings from his chief risk officer about the bet’s dangerous downsides.

According to The Wall Street Journal, Michael Roseman, who was in charge of controlling risks, expressed serious concerns to both Corzine and MF Global’s board of directors several times last year before eventually resigning.

The revelation that MF Global had $6.3 billion in net exposure to the bonds of troubled countries like Italy and Spain triggered a run on the bank that eventually forced the futures brokerage into bankruptcy on October 31.

Roseman, who was brought on in 2008 to overhaul MF Global’s risk systems after a rogue trader cost the company $140 million, warned that MF Global didn’t have enough cash to buffer against these risky positions and also presented scary scenarios about the ripple effects of a credit rating downgrade, the Journal reported.

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