We have audited the accompanying consolidated statement of financial condition of Maiden Lane LLC (a Special Purpose Vehicle consolidated by the Federal Reserve Bank of New York) and subsidiaries (the “LLC”) as of December 31, 2008, and the related consolidated statements of income and cash flows for the period from March 14, 2008 to December 31, 2008. These financial statements are the responsibility of the LLC’s management. Our responsibility is to express an opinion on these financial statements based on our audit.
This agreement, made as of the 25th day of November, 2008, by and among the Federal Reserve Bank of New York (“FRB-NY”), BlackRock Financial Management, Inc. (the “Manager”) and Maiden Lane III LLC (the “Borrower”), sets forth the terms under which the Manager shall provide investment management services to FRB-NY (the “Agreement”).
Sweeping social and economic changes triggered by more than two decades of reform in China have led to equally sweeping changes in China’s vast, state-controlled media environment, particularly in the quantity and diversity of media sources and the development of the Internet. The Communist Party of China (CPC) not only tolerates much greater diversity in the media, but has strongly encouraged greater efforts to provide media content that resonates with the lives and interests of the population. Despite these changes, however, all pertinent information continues to be filtered through party censors to ensure that it is consistent with official policy. The party exercises especially tight control over the core mainstream media which deliver domestic and international news along with politically sensitive information. These media constitute the main vehicle for conveying the policy preferences and decisions of the central leadership.
Iraq has had two political transitions over the past year, taking steps toward a constitutionally-elected government. Nevertheless, the country faces a violent insurgency that is impeding reconstruction and economic recovery. Immediate challenges are to restore rule of law, establish political legitimacy, and begin to build credible and inclusive institutions. The ability of the Iraqi Transitional Government to include ethnic and religious groups in the political process over the coming months will be important in determining whether a future constitutionally-elected government will improve security and stability, which are preconditions for successful reconstruction.
As of March 27, 2009, Treasury had disbursed $303.4 billion of the $700 billion in TARP funds. Most of the funds (about $199 billion) went to purchase preferred shares of 532 financial institutions under the Capital Purchase Program (CPP)—Treasury’s primary vehicle under TARP for stabilizing financial markets. Treasury has continued to take significant steps to address all of the recommendations from our December 2008 and January 2009 reports. In particular, Treasury has recently expanded the scope of the monthly CPP surveys of the largest institutions to include all institutions participating in the program, which is intended to provide Treasury with information necessary to begin to track the effectiveness of the program. Treasury also continued to make progress in several other areas, including requiring firms participating in certain new programs to show how assistance will expand lending. These requirements will better enable Treasury to determine what institutions plan to do with any capital infusions and to track the resulting lending activity of participating institutions on a regular basis. In addition, we specifically found that though Treasury is now receiving dividends from the investments it has made in CPP and certain other programs, it has not publicly reported these receipts, which totaled almost $2.9 billion through March 20, 2009. We recommended that Treasury could improve transparency pertaining to TARP program activities by reporting publicly the monies, such as dividends, paid to Treasury by TARP participants.
In May 2009, Supreme Court Justice David Souter announced his intention to retire from the Supreme Court. Several weeks later, President Obama nominated Judge Sonia Sotomayor, who currently serves on the U.S. Court of Appeals for the Second Circuit, to fill his seat. To fulfill its constitutional “advice and consent” function, the Senate will consider Judge Sotomayor’s extensive record – compiled from years as a lawyer, prosecutor, district court judge, and appellate court judge – to better understand her legal approaches and judicial philosophy.
This directive is issued pursuant to the authorities and responsibilities of the Director of Central Intelligence under the National Security Act of 1947, as amended, Executive Order 12333, Executive Order 12958, and other applicable authorities to protect intelligence sources, methods, and related information and activities from unauthorized disclosure, ensure programs are developed by the Intelligence Community to protect such information and activities, and to keep the President and Congress fully and currently informed of intelligence activities, including any significant intelligence failure. Applicable provisions cited in DCID 1/1 (19 November 1998) are included by reference. This directive rescinds DCID 3/18P.
Uruguay is currently in the midst of a dual transition. First, there is an economic transition from the 2002 crisis towards a path of equitable and sustainable development, as the economy continues to recover strongly. Second, there is a political transition, as the victory of the Frente Amplio – Encuentro Progresista – Nueva Mayoría coalition in the October 2004 elections marked a new phase in the country’s political history.
The FY03-05 CAS and the FY06-07 ISN were aligned around Nicaragua’s first Poverty Reduction Strategy Paper (PRSP) which was later revised and renamed the National Development Plan in 2005. Although Nicaragua’s core objective to reduce extreme poverty was not achieved to the extent desirable, achievements were made across the program with considerable progress in promoting a stable macroeconomic environment, reducing the fiscal deficit significantly, and lowering external debt to sustainable levels by achieving the HIPC Completion Point and obtaining further debt reduction through the Multilateral Debt Relief Initiative (MDRI). Growth has been modest averaging around 3.2 percent per year since 2002, and exports have doubled. Though the Bank was instrumental in the increase of poverty spending from 9.6 percent of GDP in 2002 to 13.6 percent in 2006, greater expenditure has yet to translate into significant gains in poverty reduction.
Since 2005, GAO has reported that DHS has yet to comprehensively satisfy its key cybersecurity responsibilities, including those related to establishing effective partnerships with the private sector. Shortcomings exist in key areas that are essential for DHS to address in order to fully implement its cybersecurity responsibilities (see table). DHS has since developed and implemented certain capabilities, but still has not fully satisfied aspects of these responsibilities and needs to take further action to enhance the public/private partnerships needed to adequately protect cyber critical infrastructure. GAO has also previously reported on significant security weaknesses in systems supporting two of the department’s programs, one that tracks foreign nationals entering and exiting the United States, and one for matching airline passenger information against terrorist watch-list records. DHS has corrected information security weaknesses for systems supporting the terrorist watch-list, but needs to take additional actions to mitigate vulnerabilities associated with systems tracking foreign nationals.
The Headquarters of the National Security Agency is located on Route 32 just south of the Baltimore/Washington Parkway, on Fort Meade. No formal means of visiting the NSA headquarters exists, but a look at the historic side of code breaking is provided at the neighboring National Cryptologic Museum located north of the headquarters on Route 32.
The President directed a 60-day, comprehensive, “clean-slate” review to assess U.S. policies and structures for cybersecurity. Cybersecurity policy includes strategy, policy, and standards regarding the security of and operations in cyberspace, and encompasses the full range of threat reduction, vulnerability reduction, deterrence, international engagement, incident response, resiliency, and recovery policies and activities, including computer network operations, information assurance, law enforcement, diplomacy, military, and intelligence missions as they relate to the security and stability of the global information and communications infrastructure. The scope does not include other information and communications policy unrelated to national security or securing the infrastructure. The review team of government cybersecurity experts engaged and received input from a broad cross-section of industry, academia, the civil liberties and privacy communities, State governments, international partners, and the Legislative and Executive Branches. This paper summarizes the review team’s conclusions and outlines the beginning of the way forward towards a reliable, resilient, trustworthy digital infrastructure for the future.
Cyberspace and its associated technologies offer unprecedented opportunities to the United States and are vital to our Nation’s security and, by extension, to all aspects of military operations. Yet our increasing dependency on cyberspace, alongside a growing array of cyber threats and vulnerabilities, adds a new element of risk to our national security. To address this risk effectively and to sccure freedom of action in cyberspace, the Department of Defense requires a command that posscsses the required technical capability and remains fbcused on the integration or cyberspace operations. Further, this command must be capable or synchronizing wartIghting effects across the global security environment as well as providing support to civil authorities and intemnational partners.
The Office of the Director of National Intelligence (ODNI) is pleased to provide to Congress its second report pursuant to the Data Mining Reporting Act. The Data Mining Reporting Act requires “the head of each departrnent or agency of the Federal Government” that is engaged in an activity to use or develop “data mining,” as defined by the Act, to report annually on such activities to the Congress.
This product characterizes the risk of the currently circulating new H1N1 influenza virus to U.S. forces. It is written primarily for the use of military commanders, medical officers, and operational planners.
The 11 Star Memo, signed in 2005 By CGs FORSCOM, AMC and TRADOC also addressed this gap with specific recommendations to “Realign CONUS DOIMS from IMA to NETCOM for a more unified support similar to OCONUS; optimize C2 for IT management; provide central oversight for IT resources and support; provide MACOMs single POC; and provide adequate investment in DOIM operations” CSA has specifically directed that “ protecting the Army’s networks is not just G6 or G3 business, but rather it is Cdr’s business at all levels (MSG 161304Z Aug 04). Yet, there is no single commander responsible for security and quality of service ensuring CONUS LWN capabilities are prioritized and available to support warfighting, business, and intelligence domains. And, no one is responsible to represent the Information Needs of the Unit and User through all Operational Phases and ensure access to the global collaborative environment.
Working from the province by province breakdowns of the 2009 and 2005 results, released by the Iranian Ministry of Interior, and from the 2006 census as published by the official Statistical Centre of Iran, the following observations about the official data and the debates surrounding it can be made.
On behalf of the Director of National Intelligence, I am pleased to make available the Fall 2007 Intelligence Community Legal Reference Book. The Intelligence Community draws much of its authority and guidance from the body of law in this collection. As the Director of National Intelligence seeks to better integrate the Intelligence Community, we hope this proves to be a useful resource to intelligence professionals across the Community. This document is the result of many hours of hard work. I would like to extend my thanks to those across the Community who assisted the Office of General Counsel in recommending and preparing the authorities contained herein.
Asset totals reflect internally run, single-manager hedge funds and separate accounts, including long-only funds that charge hedge-fund-style fees; they exclude funds of hedge funds, overlay accounts, funds managed by third parties, mutual funds and traditional long-only money, dynamic money market funds, assets in collateralized debt and bond obligations, private equity and venture capital.
Despite a horrible year in most global markets, these 100 funds all have three-year annualized returns that run to solid double digits; a majority were up in 2008. Remarkably, one firm, Paulson, has two funds in the top four, No. 1 Paulson Advantage Plus (event-driven) and No. 4 Paulson Enhanced (merger arbitrage). In second place is Balestra Capital Partners, a global macro fund, third is Vision Opportunity Capital, a merger arbitrage fund, and fifth was Quality Capital Management-Global Diversified. Strong performance in weak markets is hedge funds’ most basic appeal and these funds did nothing to dispel that idea last year.
The National Communications System is responsible for assuring key national security and emergency preparedness (NS/EP) decision-makers have the ability to communicate through the full spectrum of crises. With the vast majority of the communications infrastructure owned by corporations, any successful strategy requires regular and meaningful interaction with industry.
This site is in Washington, D.C. on the National Mall just south of the railroad bridge that runs beside Route 1 and I-395, approximately 2 miles northeast of the Pentagon. The site is comprised of 2 large temporary buildings, one of which has large exhaust fans on the roof. As of 2006, there were signs at the site for Kiewet, a prominent tunneling firm. According to a Washington Post article from November 26, 2004, the Navy controls the site and describes it as a “utility assessment and upgrade”. The article says that “theories abound about the four-acre complex, which is dead center in a ring that includes the White House, the U.S. Capitol, the Pentagon, Reagan National Airport and the National War College. Is it a sophisticated sensor station, guarding the 14th Street bridge and other Potomac River crossings? Is it an excavation point for underwater barriers to protect the Washington Channel and Potomac River from submarines? Is it a staging area for Navy Seabees securing underwater cables between the White House and the Pentagon, across the river?”
The Open Source Information System was an unclassified network of computer systems that provides the intelligence community with open source intelligence. As of 2006, the OSIS name was retired and the network and content portions of the system were decoupled. The network portion of the system is now called DNI-U and the content portion is known as Intelink-U. According to the Army Foreign Military Studies Office, “Intelink-U is a virtual private network — a government intranet. It provides a protected environment to exchange unclassified and FOUO/SBU US Government and other open source data among Intelligence Community and other selected organizations. The Intelink-U firewalls safeguard government information resources and allow customers access to both the Intelink-U network and the public Internet. This gives Intelink-U users a single point of access to an unprecedented amount of unclassified open source information. “
This Intelligence Community (IC) Directive (ICD) establishes Director of National Intelligence (DNI) policy and specifies responsibilities for the oversight, management, and implementation of IC open source activities . This ICD recognizes and establishes the roles and responsibilities of the Assistant Deputy DNI for Open Source (ADDNI/OS), the DNI Open Source Center (the Center). and the IC to ensure efficient and effective use of open source information and analysis.
The structure of this chart is primarily taken from a reference pamphlet published by the South Korean Ministry of Unification in January 2009, which appears to be based on the DPRK constitution. As such, this chart is a representation of the formal relationships between the various entities and does not necessarily reflect the actual hierarchy and power relationships in the North Korean system. Other sources include: DPRK, ROK, PRC, and Japanese media; the ROK National Intelligence Service website; the Ministry of Unification’s Key Figures of North Korea 2009; and Japan’s Radiopress North Korea Directory 2008.