Related UN Contingency Discussions:

• UN Security Council Geoeconomic Security - Greek Restructure: HRI:UNArts Humanitarian Intervention Initiative, 10 May 2011. 
• UN Security Council Discussions on Geoeconomic Security Continue: HRI:UNArts Humanitarian Intervention Initiative, 6 May 2011. 

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3 May 2011

From: Stephen M. Apatow
Founder, Director of Research & Development
Humanitarian Resource Institute
Humanitarian University Consortium Graduate Studies
Center for Medicine, Veterinary Medicine & Law
Phone: 203-668-0282
Email: s.m.apatow@humanitarian.net
Internet: www.humanitarian.net

HRI:UNArts: Humanitarian Intervention Initiative
Url: www.unarts.org/H-II

To Permanent Members of the UN Security Council
To: UN Secretary General Ban Ki Moon




Subject: Apatow: UN Security Council Appeal - Counterterrorism - Geoeconomic Security

The recent death of Osama Bin Laden has refocused global attention on the War Against Terrorism, the events of 911 and the geosystemic shock that facilitated the crash of global financial markets during the 2001-2002 time period.

The importance of this discussion relates to vulnerabilities that contributed to the 911 market crisis and then the global market crash of 2008. Today, the state of the global financial system, according to the World Bank, is "one shock away from a full blown crisis." [1]  The two main regulatory focus areas attributed to these vulnerabilities are (1) the repeal of the Banking Act of 1933 A.K.A. Glass-Steagall Act that prevented investment bank access to the reserve bank lending facilities [2,3] and (2) the deregulation of the OTC derivatives markets. [4]

The Wall Street Reform and Consumer Protection Act of 2010, [5] encompassed an intensive effort to address the financial crisis by the U.S. Department of Treasury, against overwhelming resistance, that continues to this date.  These efforts included all market participants, in every interconnected UN member country, with an objective to establish a solid global regulatory framework.  

Today, my appeal to the UN Security Council focuses on our current global economic emergency and humanitarian crisis caused by hyperinflation, a global oil shock and food crisis that has destabilized countries in Africa, the Middle East and now Central Asia. [6]

On 13 April 2011, an international contingency planning dialogue was directed to the UN Commission for Human Rights. An overview of these discussions include:

1. Financial Crimes Referred to UN Commission on Human Rights - Security Council: HRI:UNArts Humanitarian Intervention Initiative, 13 April 2011. Url: http://www.unarts.org/H-II/ref/4132011OHCHR.html
2. Apatow Asks G20 to View Documentary: Inside Job - Establish Emergency Action Plan: HRI:UNArts Humanitarian Intervention Initiative, 15 April 2011. Url: http://www.unarts.org/H-II/ref/4152011OHCHR.html
3. Apatow On G20 Action Plan to Address the International Economic Emergency: HRI:UNArts Humanitarian Intervention Initiative, 16 April 2011. Url: http://www.unarts.org/H-II/ref/4162011OHCHR.html
4. Apatow: Documentary w/study Guide Targets Every U.S. City - Prime Time: HRI:UNArts Humanitarian Intervention Initiative, 18 April 2011. Url: http://www.unarts.org/H-II/ref/4182011OHCHR.html
5. Apatow: Inside Job - Prosecution for Financial Crimes Top Priority - FINCEN - Interpol - IBA: HRI-ICC: HRI:UNArts Humanitarian Intervention Initiative, 19 April 2011. Url: http://www.unarts.org/H-II/ref/4192011OHCHR.html
6. Apatow: Jurisdiction Critical for Prosecution of Financial Crimes  - FINCEN - Interpol - IBA: HRI-ICC: HRI:UNArts Humanitarian Intervention Initiative, 22 April 2011. Url: http://www.unarts.org/H-II/ref/4222011OHCHR.html

The U.S. and international response has been positive, yielding constructive dialogue on subject matter that includes:

1. The role of investment banks in the global food crisis. Foreign Policy Magazine, 27 April 2011. Url: http://www.foreignpolicy.com/articles/2011/04/27/how_goldman_sachs_created_the_food_crisis
2. OTC Derivatives: Basel Committee has proposed a zero risk weight for collateral posted to a central counterparty. Financial Risk Management News and Analysis Network, 3 May 2011. Url: http://www.risk.net/risk-magazine/feature/2045369/collateral-look-don-t-touch
3. U.S. OTC Derivatives Regulation: CFTC proposes key rulemakings that complete the “mosaic” of proposed rules, Title VII of the Dodd-Frank Act. Association of Corporate Council, 29 April 2011. Url: http://www.lexology.com/library/detail.aspx?g=adc082ba-7b6b-4352-90ab-32add9a65000

Our emergency appeal, relates to the need for an immediate geoeconomic emergency stabilization plan, that would be implemented in the event of a terrorist attack or shock that could facilitate the collapse of the global financial system.  Of primary importance, is the immediate restriction of investment bank access to central bank emergency lending facilities, [7] a coordinated emergency measure that should have been prioritized after the collapse of the global financial markets in 2008.

Stephen M. Apatow [8]
Founder of Humanitarian Resource Institute and the United Nations Arts Initiative
Director of Global Infrastructure Analysis and Contingency Planning for the Year 2000 [9]
HRI: International Disaster Information Network [10]

References:

1. World Bank president: 'One shock away from crisis': BBC, 17 April 2011. Url: www.bbc.co.uk/news/business-13108166
   
2. The Glass-Steagall Act a.k.a. The Banking Act of 1933: Full Text: Archives.org. Url: www.archive.org/details/FullTextTheGlass-steagallActA.k.a.TheBankingActOf1933
3. Glass-Steagall Act: Wickpedia. Url: www.en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act
4. Commodity Futures Modernization Act of 2000: U.S. Securities and Exchange Commission.  Url: http://www.sec.gov/about/laws/cfma.pdf
5. Wall Street Reform: U.S. Department of Treasury. Url: http://www.treasury.gov/initiatives/wsr/Pages/wall-street-reform.aspx
   
6. Toward an Arab-Style Uprising in Central Asia?:  International Relations and Security Network (ISN). Url: http://www.isn.ethz.ch/isn/Current-Affairs/ISN-Insights/Detail?lng=en&id=128824&contextid734=128824&contextid735=128822&tabid=128822
7. Apatow: Borchgrave - Director of Transnational Threats at the CSIS - Calls for Glass-Steagall: PRLOG, 1 May 2011. Url: http://www.prlog.org/11466765
8. Stephen Michael Apatow: Founder of Humanitarian Resource Institute and the United Nations Arts Initiative.  Url: http://www.apatow.org
9. Year 2000 Conversion: Humanitarian Resource Institute International Disaster Information Network. Url: http://www.humanitarian.net/contingency.html
10. International Disaster Information Network: Humanitarian Resource Institute. Url: http://www.humanitarian.net/idin