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Financial terrorists pose grave risk to US
02/02/2011 / The Times (London)
Alexandra Frean
(Copyright Times Newspapers Ltd, 2011)
Financial terrorists pose grave risk to US
The US financial system remains vulnerable to a co-ordinated act of ?financial terrorism? that risks taking down the US economy and collapsing the dollar, according to a confidential report commissioned by the Department of Defence in Washington.
The document warns that forces hostile to the US could mount a ?focused effort to collapse the dollar by dumping Treasury bonds? and urges the security services to conduct a further risk assessment outside of traditional Washington and Wall Street circles.
It also suggests that the financial meltdown of 2008, which wiped out an estimated $50 trillion of global wealth, may not have been the spontaneous result of poor regulation and bad risk assessment among financial institutions, but a co-ordinated series of attacks by ?financial terrorists intent on destroying the American financial system.
The disclosure of the report?s contents to The Times came as the FBI confirmed that it had warned major Wall Street institutions of a potential threat to their businesses and executives after an al Qaeda-linked magazine, Inspire, suggested that financial markets could be a target of attack.
A spokesman for the FBI in New York confirmed yesterday that security briefings for Wall Street firms took place last month, but said that the information that was discussed was not imminent, not specific. The briefings reflect concerns in some quarters of the Pentagon about the....
Alexandra Frean
(Copyright Times Newspapers Ltd, 2011)
Financial terrorists pose grave risk to US
The US financial system remains vulnerable to a co-ordinated act of ?financial terrorism? that risks taking down the US economy and collapsing the dollar, according to a confidential report commissioned by the Department of Defence in Washington.
The document warns that forces hostile to the US could mount a ?focused effort to collapse the dollar by dumping Treasury bonds? and urges the security services to conduct a further risk assessment outside of traditional Washington and Wall Street circles.
It also suggests that the financial meltdown of 2008, which wiped out an estimated $50 trillion of global wealth, may not have been the spontaneous result of poor regulation and bad risk assessment among financial institutions, but a co-ordinated series of attacks by ?financial terrorists intent on destroying the American financial system.
The disclosure of the report?s contents to The Times came as the FBI confirmed that it had warned major Wall Street institutions of a potential threat to their businesses and executives after an al Qaeda-linked magazine, Inspire, suggested that financial markets could be a target of attack.
A spokesman for the FBI in New York confirmed yesterday that security briefings for Wall Street firms took place last month, but said that the information that was discussed was not imminent, not specific. The briefings reflect concerns in some quarters of the Pentagon about the....
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