"IN A WORLD OF UNIVERSAL DECEIT, TELLING THE TRUTH IA A REVOLUTIONARY ACT."
-george orwell

Thursday, June 18, 2009

1968 Chicago riot cops set to ‘celebrate’ mass beatings

Members of the Chicago Fraternal Order of Police (FOP) who participated in what an official report later described as a “police riot” during the 1968 Democratic National Convention are planning to get together next week to reminisce about the good times and set the record straight on “what really happened.”

FOP president Mark Donahue insists, “It’s just a get-together for guys who worked together 40 years ago. Nothing more.” However, the group’s own statements indicate that the reunion is intended as a political statement.

As the official Chicago Riot Cops website explains, “The time has come that the Chicago Police be honored and recognized for their contributions to maintaining law and order - and for taking a stand against Anarchy. The time was the hot summer month of August ‘68. The Democratic National Convention was about to start and the only thing that stood between Marxist street thugs and public order was a thin blue line of dedicated, tough Chicago police officers.”

The site offers information for those wishing to attend the reunion, along with a nostalgia-laden photo section featuring baton-wielding police officers cracking the skulls of demonstrators.

Chicago Copwatch, which tracks current police brutality, is organizing a rally and a march to the Fraternal Order of Police Hall on the night of the reunion. The group has issued a statement linking the events of the 1960s to present abuses:

“When [police] gather to celebrate one of the largest mass beatings in Chicago history they are also meeting to celebrate the savagery of that generation of the CPD. This is a celebration not only for the police who beat down DNC protesters, but also the ones who attacked the Puerto Rican community during 1966 Division Street Uprising, and assassinated Black Panther Party leaders Fred Hampton and Mark Clark. This reunion will be bringing together cops from this era with those who are currently oppressing our marches, occupying our communities, brutalizing, and mudering young people across the city.”

The Chicago Riot Cops website claims that “for decades the collective Left has white-washed what really happened during the riots of 1968 and 1969. Chicago Police officers who participated in the riots continue to endure unending criticism — all of which is unwarranted, inaccurate and wrong.”

However, much of the strongest criticism of the police came from the official Walker Report, issued in December 1968, which coined the term “police riot.”

As Time magazine reported in an article summarizing the report, the roots of the violence went back to the previous April, when then-Mayor Richard Daley had criticized the police for what he considered excessive restraint in dealing with the riots that followed the assassination of Martin Luther King. When Daley and his aides took at face value the “diabolical threats” issued by the ragtag group of socialists, anarchists, pacifists, and pranksters who showed up to demonstrate at the Democratic National Convention, the stage was set for massive police overreaction.

The anxious and overworked police lashed out indiscriminately, and according to Time, “Witnesses frequently noted that if a demonstrator being chased by police got away, the cops would simply club whoever else was handy.” Despite the police violence, no disciplinary actions in response to “these violators of sound police procedures and common decency” had been carried out prior to the completion of the report.

Wednesday, June 10, 2009

UK cop accuses colleagues of waterboarding pot suspects

Six members of London’s metropolitan police force are the focus of a criminal investigation after a corruption probe revealed allegations by a serving officer that detectives waterboarded suspects allegedly caught with a “large amount” of marijuana.

“The officers under investigation were among 10 based in Enfield, north London, who were suspended in February in one of the worst allegations of corruption to hit the Metropolitan police in recent years,” reported The Telegraph.

“The part of the inquiry focusing on alleged police brutality has been taken over by the Independent Police Complaints Commission (IPCC),” reported the Times Online. “It is examining the conduct of six officers connected to drug raids in November in which four men and a woman were arrested in Enfield and Tottenham.

The British publication added: “Police said they found a large amount of cannabis and the suspects were charged with importation of a class C drug. The case was abandoned four months later when the Crown Prosecution Service said ‘it would not have been in the public interest to proceed.’ It is understood that the trial, by revealing the torture claims, would have compromised the criminal investigation into the six officers.”

“The officers, who include a detective sergeant, were originally suspended over allegations they stole property during the drugs raids,” noted Sky News. “The officers are members of the Enfield crime squad based at Edmonton police station.”

“[British] papers gave varying accounts of the exact technique used by police, with the Times saying that officers poured water on a cloth and placed it over a suspect’s face to simulate the experience of drowning,” reported the Associated Press. “The Daily Mail said police officers repeatedly dunked the suspects’ heads in buckets of water. The reason for the discrepancy was not immediately clear.”

“The [metro police] Directorate of Professional Standards received information from an MPS employee which raised concerns about the conduct of a small number of officers on Enfield borough,” a police spokesman told The Telegraph. “The Met’s DPS then initiated a thorough investigation and as part of this made a referral to the IPCC in April 2009.

“The IPCC is independently investigating the actions of six officers during the arrests of five people in November 2008. ”

“Any allegations of such behavior are treated very seriously … and if found true the strongest possible action will be taken,” Scotland Yard told the AP in an e-mail.

First Gitmo inmate in US court pleads not guilty

By TOM HAYS and DEVLIN BARRETT, Associated Press Writers – 5 mins ago

NEW YORK – Under heavy guard, a Guantanamo Bay detainee walked into a civilian U.S. courtroom for the first time Tuesday, underscoring the Obama administration's determination to close the Cuban prison and hold trials here despite Republican alarms about bringing terror suspects to America.

Ahmed Ghailani, a Tanzanian accused in two American Embassy bombings a decade ago, pleaded not guilty — in English — in a brief but historic federal court hearing that transported him from open-ended military detention to the civilian criminal justice system.

President Barack Obama has said keeping Ghailani from coming to the United States "would prevent his trial and conviction." Taking a drastically different stance, House Republican leader John Boehner of Ohio labeled Tuesday's move "the first step in the Democrats' plan to import terrorists into America."

Ghailani, accused of being a bomb-maker, document forger and aide to Osama bin Laden, was brought to New York to await trial in connection with al-Qaida bombings that killed 224 people — including 12 Americans — at the U.S. embassies in Tanzania and Kenya in 1998.

U.S. marshals took custody of Ghailani from his military jailers and transferred him to a federal lockup in lower Manhattan that currently holds financial swindler Bernard Madoff, and once held mob scion John "Junior" Gotti and blind terror leader Sheik Omar Abdel-Rahman.

Short and slim with a wispy goatee, Ghailani walked into the courtroom without shackles or handcuffs, wearing a blue jail smock.

He listened at times through an interpreter but then removed the headphones and appeared to understand what was said in English.

Asked by the judge if he wanted her to "read this big fat indictment," he conferred with his lawyer, said it was not necessary and made his plea: "not guilty."

About 10 deputy marshals were in the courtroom, including two who were behind him.

Ghailani's attorney, Scott L. Fenstermaker, declined comment after the hearing.

"We are ready to proceed in the case," declared Assistant U.S. Attorney David Raskin, who said there was "voluminous" evidence to be shared among attorneys.

U.S. District Judge Loretta A. Preska acknowledged Ghailani's U.S. military lawyers, Marine Col. Jeffrey Colwell and Air Force Maj. Richard Reiter, who were seated in the courtroom but were not representing him at the hearing.
"Anything you can do to help him transition to the civilian courts will be greatly appreciated," she said.

Ghailani's trial will be an important test case for Obama's plan to close the detention center at Guantanamo in seven months and bring some of the terror suspects there to trial.

Attorney General Eric Holder said, "The Justice Department has a long history of securely detaining and successfully prosecuting terror suspects through the criminal justice system, and we will bring that experience to bear in seeking justice in this case."

Though the bombings were a decade ago, "for us, it's like yesterday," said Sue Bartley, a Washington-area resident who lost her husband, Julian Leotis Bartley Sr., then U.S. consul general to Kenya, and her son, Julian "Jay" Bartley Jr.

"The embassy bombings were a precursor to 9/11. And even though we know that an American embassy located in any country is American soil, I don't think people really understand that," she said.

The U.S. response to the 2001 terror attacks — including the opening of the Guantanamo detention center — could also complicate Ghailani's case, as defense lawyers are likely to mount legal challenges based on the circumstances of his capture, detention and treatment over the years.

Justice Department officials would not say Tuesday what would be done with Ghailani if he were acquitted, but in past cases a non-citizen defendant would be turned over to immigration authorities for deportation.
There will also be political challenges to Ghailani's trial.

Congressional Republicans have repeatedly contended that transferring terrorist suspects to U.S. soil will threaten public safety. The Guantanamo issue has seemed one of the few issues falling the Republicans' way, as polls suggest that most Americans want to keep the Cuba-based prison operating.

But if Ghailani can be handled without serious incident in New York and elsewhere, the GOP argument may lose steam and Congress may rethink its refusal to fund the closing of Guantanamo. The move also could bolster Obama's efforts to persuade other nations to accept some detainees from the prison.

U.S. officials contend Ghailani began a terrorist career on a bicycle delivering bomb parts and rose through the al-Qaida ranks to become an aide to bin Laden.

After the Aug. 7, 1998, bombings at U.S. embassies in Nairobi and Dar es Salaam, Tanzania, Ghailani worked his way up the al-Qaida ranks, according to military prosecutors.

He was categorized as a high-value detainee by U.S. authorities after he was captured in Pakistan in 2004, and he was transferred to the detention center at the U.S. naval base in Cuba two years later.

Ghailani has denied knowing that the TNT and oxygen tanks he delivered would be used to make a bomb. He also has denied buying a vehicle used in one of the attacks, saying he could not drive.

Not only Republican lawmakers have opposed bringing Guantanamo detainees to the U.S. for trial, even in heavily guarded settings. Obama faces pressure from across the political spectrum over his plan to close the detention center. Democrats have said they want to see Obama's plan for closing the base before approving money to finance it, and Republicans are fighting to keep Guantanamo open.

The decision to try Ghailani in New York also revives a long-dormant case charging bin Laden and other top al-Qaida leadership with plotting the embassy attacks, which led then-President Bill Clinton to launch cruise missile attacks two weeks later on bin Laden's Afghan camps.

Four other men have been tried and convicted in the New York courthouse for their roles in the embassy attacks. All were sentenced to life in prison.
___________

Tuesday, June 9, 2009

House committee subpoenas Federal Reserve

The congressional panel investigating what happened to all that bank bailout money has issued a subpoena to the Federal Reserve, asking them to hand over all documents relating to the takeover of Merrill Lynch by the Bank of America.

On January 1, BofA finalized its purchase of Merrill Lynch for just over $29.1 billion. That made the bank eligible for an additional $20 billion in federal rescue money, bringing BofA's total to some $45 billion. Now, Reps. Dennis Kucinich (D-OH) and Edolphus Towns (D-NY) want to know exactly what the banks and the Federal Reserve agreed to when they arranged the deal last year.

Full text of the press release from Kucinich's office:

Washington D.C. (June 8, 2009) -- House Oversight and Government Reform Committee Chairman Edolphus Towns (D-NY) and Ranking Member Darrell Issa (R-CA) today served a subpoena on the Federal Reserve (the Fed) to compel it to turn over documents related to Bank of America’s acquisition of Merrill Lynch.

The full committee and Domestic Policy Subcommittee, under the leadership of Chairman Dennis Kucinich (D-OH), have been investigating the circumstances surrounding the federal government’s bailout of the Bank of America-Merrill Lynch transaction. Specific documents subpoenaed include emails, notes of conversations and other documents.

New York Attorney-General Andrew Cuomo has claimed that, in 2008, then-Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke strong-armed BofA into buying Merrill -- a move that, if true, could expose Paulson and Bernanke to prosecution.

Last week, news services reported that the House had asked Bank of America CEO Kenneth Lewis to testify before the House Committee on Oversight and Government Reform. That hearing takes place on Thursday (June 11).

Retailer Target Branches Out Into Police Work

this news article is a few years old but i found it interesting none the less

Minneapolis Forensics Lab, Donations Help Law Enforcement Agencies

By Sarah Bridges
Special to The Washington Post
Sunday, January 29, 2006; A01

When arson investigators in Houston needed help restoring a damaged surveillance tape to identify suspects in a fatal fire, they turned first to local experts and then to NASA. With no luck there, investigators appealed to the owner of one of the most advanced crime labs in the country: Target Corp.

Target experts fixed the tape and Houston authorities arrested their suspects, who were convicted. It was all in a day's work for Target in its large and growing role as a high-tech partner to law enforcement agencies.

In the past few years, the retailer has taken a lead role in teaching government agencies how to fight crime by applying state-of-the-art technology used in its 1,400 stores. Target's effort has touched local, state, federal and international agencies.

Besides running its forensics lab in Minneapolis, Target has helped coordinate national undercover investigations and worked with customs agencies on ways to make sure imported cargo is coming from reputable sources or hasn't been tampered with. It has contributed money for prosecutor positions to combat repeat criminals, provided local police with remote-controlled video surveillance systems, and linked police and business radio systems to beef up neighborhood foot patrols in parts of several major cities. It has given management training to FBI and police leaders, and linked city, county and state databases to keep track of repeat offenders.

The efforts are part of a trend in corporate donations directed at solving societal problems. "Target is pushing forward a different model of corporate giving," said Douglas G. Pinkham, president of the nonpartisan Public Affairs Council. Others are doing the same. Exxon Mobil, for example, is building hospitals in the developing world. Cargill Corp. is building schools in areas where potential employees lacked basic skills.

Target's law enforcement efforts date back at least a decade but intensified after the Sept. 11, 2001, terrorist attacks. The company has applied in-store practices, such as inventory-tracking technologies, to the business of identifying and locating criminals. "In many ways, Target is actually a high-tech company masquerading as a retailer," said Nathan K. Garvis, Target's vice president of government affairs.

Some people note the possible ethical complexities inherent in Target's tight government relationships. "It is a tricky issue when firms get too close to government," said Ernesto Dal Bó, assistant professor of business and public policy at the Haas School of Business at the University of California at Berkeley. Dal Bó sees such alliances as fraught with potential conflicts, though he cautions against alarm. "There is no reason we need to say that anything bad is happening, but we do need to watch," he said.

It is typical for big companies, especially retailers, to coordinate with law enforcement in safeguarding their properties. Wal-Mart Stores Inc., for example, takes a "one store at a time" approach, in which bicycles and other gear are given to law enforcement agencies in need, spokeswoman Sharon Weber said. "We are also very proud of our outreach program with police in some cities," she said. "We teach kids the true consequences of shoplifting."

Target's approach is more comprehensive. Target has replaced the concept of "assets protection" in its stores with crime prevention in the community. A program called "Target and Blue" defines its approach to philanthropy and partnership with law enforcement agencies.

Chief executive Robert J. Ulrich made cooperating with law enforcement a priority in the mid-1990s, when crime rates skyrocketed and his hometown of Minneapolis was nicknamed "Murderopolis."

"The turning point occurred for me when I read about a repeat offender walking out of the courtroom because the judge didn't know he had a criminal record in a different part of the state," Ulrich said in an interview. "He raped a woman the next day." Ulrich slapped the table. He said he wanted to know how the man got out of jail so fast.

Ulrich assigned Garvis to figure that out, and he began by interviewing police, judges and politicians to understand why one branch of law enforcement may not have access to another agency's records. He learned that city, county, state and federal criminal record systems had different ways of entering data and couldn't routinely share information.

"It struck me that following repeat criminals was really an inventory-management problem," Garvis said. He turned to the partnerships Target had already developed with law enforcement -- Target's assets protection group is headed by Brad Brekke, a former FBI agent, and is staffed by former police officers.

Working with local and state jurisdictions, Target donated what boiled down to tracking technology and database translation, as well as employees to work on the project. "This kind of thing has been tried before," said Richard W. Stanek, a former Minnesota public safety commissioner. "The extra thing that Target brought was neutrality -- and mediation. They physically brought the different arms of law enforcement together and helped get us talking." For several years, a database called CriMNet has been used in Minnesota in the prosecution of the felonies. It is one of several alternatives under consideration for a national criminal database.

As the project gained footing, Target investigators began working with law enforcement agencies in sting operations and surveillance concerning crime in their stores. Target began helping law enforcement on cases that had nothing to do with its business. It wasn't long before Target was analyzing criminal evidence for police, the FBI and the Bureau of Alcohol, Tobacco and Firearms.

"One of the nation's top forensics labs is located at Target's headquarters building in downtown Minneapolis," said FBI Special Agent Paul McCabe, who has worked with Target. "They have abilities and technology that far surpasses many law enforcement agencies in the country."

Target forensics investigators spend 45 percent of their time offering pro-bono assistance to law enforcement. Target declined to say how many cases that involves per year.

Visiting the forensics lab entails a trip to Target's corporate security department, past red-and-white bull's-eyes and up the elevator to the second floor. Through password-protected doors is a windowless room -- the desks packed with computers and flat-screen monitors, and a wall decorated with the badges from the law enforcement agencies that Target has helped. Motion-detection sensors linked to silent alarms sweep the ceiling above the locked evidence room, and only four employees have access to the facility.

The lab's first big outside criminal case was the Houston arson-homicide in 2004. Thomas D. Wood, a senior arson investigator for the Houston Fire Department, oversaw the case and was the first law enforcement official to use Target's lab.

A woman and two children died in the fire. A surveillance tape from a nearby convenience store showed what appeared to be two juvenile suspects buying gasoline hours before the fire, but the tape was damaged and Wood struggled to restore it. He happened to go to lunch with a Target investigator, who mentioned the forensics lab. Wood sent the tape the next day.

"Not only were the Target people able to clean the tape, they also made still shots from it that were used by the boys' school principal to identify them," Wood said. Both suspects confessed and are now serving prison sentences.

As word spread about what Target's lab had accomplished in the Texas arson case, the requests for help soon became overwhelming. "We had cops in here every day -- chairs pulled up next to my computer," said Target forensic investigator Craig Thrane. "We finally had to make criteria for the cases we take. The only ones we do now involve violent felonies."

At a work station in the lab, Thrane popped a videotape into a machine with 60 tiny knobs, then tapped a series of commands into his computer. "This is a video from a bank robbery that the FBI brought to me to try to figure out who the criminal is. In this case, it is a gun woman -- very unusual."

Thrane measured the robber's height electronically and zoomed in on some of her features. "Notice the space between the corner of her mouth and her lip -- there is something unusual about it -- I'm guessing she is missing teeth," he said, making several more measurements of unique characteristics that he sent to the FBI. A week later, word arrived that agents nabbed a suspect -- a 40-year-old woman who was a methamphetamine addict. "They also told me she lost her teeth," Thrane said.

Besides helping law enforcement solve crimes, Target has a prevention program called "Safe City." It began two years ago in a police precinct in Minneapolis and has spread to dozens of other cities including Washington, Boston, New York and Atlanta.

In the Washington area, Target is using Safe City at two stores in Prince George's County -- at Forestville Mall and P.G. Plaza, with increased cooperation between its own security officials and law enforcement in patrolling areas around the buildings.

Modeled after a community surveillance program in England, Safe City uses video and computer equipment to help police patrol neighborhoods by remote control, coordinated with security workers at participating businesses.

Target also has been paying for a lawyer and a paralegal in the Minneapolis prosecutor's office through its charitable foundation, with an emphasis on prosecuting repeat criminals. "They don't just give us money -- they demand accountability," said Hennepin County Attorney Amy Klobuchar. "There were huge strings attached when we received the funding for our new staff, and we were expected to routinely communicate how the money was used and what kind of results we'd gained. Here's an example: In the past, the DA's office tracked input numbers [how many criminals were charged], though once we were working with Target, we were required to track output numbers, or how many convictions we get in a year."

Before Target's involvement, the prosecutor won convictions for about three repeat criminals a year. Since adding the new staff and changing how it operates, the prosecutor now has more than 90 such convictions in a year.

Target's latest ventures include building a forensics lab for the Minnesota Bureau of Criminal Apprehension, including FBI and other agency officials in their corporate leadership programs and providing various agencies with "sting trailers," trucks filled with electronics and other merchandise to lure criminals -- and containing wireless devices that send information to police. The company also has run programs for the World Customs Organization to determine how to protect cargo through advanced technical systems and "smart boxes."

Such close cooperation sometimes has Target employees working as de facto law enforcement officials. Chris W. Nelson, director of assets protection for the retailer, recalled one case in which he worked with federal agents for two years to break up a crime ring. He questioned informants, got to know some of the suspects and was there as a federal SWAT team surrounded one of the ringleaders on a speedboat on a lake in Minnesota.

The suspect "stopped short as he spotted me in the crowd and shouted, 'What the [expletive] is Target doing here?!' " Nelson said. "I still love that one."

Wednesday, June 3, 2009

Cop Who Dumped Paralyzed Man from Wheelchair is Charged

A sheriff’s deputy who was caught on camera spilling a paralyzed man from his wheelchair onto the jailhouse floor was charged with abuse of a disabled person, the Hillsborough County (Fla.) Sheriff’s Office announced yesterday.

The deputy, Charlette Marshall-Jones, 44, was shown on video dumping Brian Sterner out of a wheelchair and then searching him while he laid motionless on the floor. Sterner was at the jail on a warrant after being stopped for a traffic violation.

Sterner said when he was taken into one of the jail’s booking rooms, he was told to stand up. The deputy apparentlybecame upset and agitated when he told her that he could not because he was paralyzed.

Marshall-Jones had been suspended without pay, and three other deputies had been placed on an administrative leave as the office launches an investigation.

Marshall-Jones was charged with abuse of a disabled person, which is a third-degree felony in Florida, said Hillsborough County Sheriff David Gee.

Dollar Declines as Nations Mull Reserve Currency Alternatives

http://www.bloomberg.com/apps/news?...801Y&refer=home

By Oliver Biggadike and Chris Fournier

June 2 (Bloomberg) -- The dollar weakened beyond $1.43 against the euro for the first time in 2009 on bets record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency.

The euro gained for a fourth day versus the dollar as the Russian government said emerging-market leaders may discuss the idea of a supranational currency. The pound rose to the highest level since October and the Canadian dollar traded near an eight-month high on speculation signs of a recovery in U.S. and U.K. housing will spur higher-yield demand.

“There’s been a lot of talk out of Russia about a new global currency, and that’s contributing toward this latest bout of dollar weakness,” said Henrik Gullberg, a currency strategist in London at Deutsche Bank AG, the world’s largest currency trader. “These latest comments are just adding to the general dollar weakness we’ve seen recently.”

The dollar slid 1.1 percent to $1.4317 per euro at 4:21 p.m. in New York, from $1.4159 yesterday. It touched $1.4331, the weakest level since Dec. 29. The dollar depreciated 1.1 percent to 95.54 yen, from 96.59. The euro traded at 136.77 yen, compared with 136.78.

Sterling rose as much as 0.9 percent to $1.6596, the highest level since Oct. 30, while the Canadian dollar advanced 1.2 percent to C$1.0806, near the strongest level since Oct. 3.

Pending sales of existing homes in the U.S. climbed 6.7 percent in April, the National Association of Realtors said today. The median forecast of 32 economists surveyed by Bloomberg News was for a 0.5 percent gain. Banks in the U.K. granted 43,201 home loans that month, the highest level in a year, the Bank of England said.

Russia on Currency
Russian President Dmitry Medvedev may discuss his proposal to create a new world currency when he meets counterparts from Brazil, India and China this month, Natalya Timakova, a spokeswoman for the president, told reporters by phone today. Russia’s proposals for the Group of 20 meeting in London in April included studying a supranational currency.

“We need some kind of universal means of payment, which could create the basis of a future international financial system,” Medvedev said in a June 1 interview with CNBC. “Naturally, because of the crisis in the American economy, attitude to the dollar has also changed.”

Regional reserve currencies are an “unavoidable” part of “regionalizing” the global financial system, Deputy Finance Minister Dmitry Pankin said in Moscow today.

The Dollar Index, which ICE uses to track the currency’s performance against the euro, yen, pound, Canadian dollar, Swedish krona and Swiss franc, fell as much as 1 percent to 78.33, the lowest level since Dec. 18.

‘Opportunity to Sell’
“The market is looking for the opportunity to sell the U.S. dollar,” said Jack Spitz, a managing director for foreign exchange at National Bank of Canada in Toronto. “It took decades for the euro to be established. I can only imagine how long it would take for the BRIC countries to put together a currency.”

There’s no replacement currency for the dollar in the short term, Guo Shuqing, former head of China’s foreign-exchange administrator, said in an interview with the Financial Times for an article published yesterday.

The Dollar Index reached 89.62 on March 4, the highest level since 2006, as the global recession spurred investors to take refuge in Treasuries notes and bills.

Demand for the record amount of debt the U.S. is selling will remain sufficient, Treasury Secretary Timothy Geithner said in an interview today with state media outlets in China.

Chinese ‘Understanding’
The Chinese have a “very sophisticated understanding” of why the U.S. government is running up deficits, said Geithner in Beijing, pledging to rein in borrowing later. The U.S. will “do everything that is necessary” to preserve confidence in the nation’s financial markets, he said.

The dollar also declined on speculation “smaller” central banks started today’s selling of the greenback, said Sebastien Galy, a currency strategist at BNP Paribas SA in New York.

“If people believe that there is official pressure behind it, then obviously it puts pressure on euro-dollar on the upside,” Galy said. “Small central banks have an incentive in doing something because if they’re the first movers, they will not suffer by far as much as the big ones.” Galy predicted the euro may reach $1.4360 today, a peak last reached in December.

The euro fell earlier versus the yen as Europe’s jobless rate rose in April to the highest level in almost 10 years. Unemployment in the 16-member euro region increased to 9.2 percent from 8.9 percent in March, the European Union statistics office in Luxembourg said today.

ECB’s Rate
The European Central Bank will keep its benchmark rate unchanged at 1 percent on June 4, according to the median forecast of 54 economists surveyed by Bloomberg News. The ECB said last month it would buy 60 billion euros ($86 billion) of covered bonds.

The euro’s rally against the dollar may be entering its “last stage,” and investors would likely benefit from selling the euro against the greenback, according to UBS AG, the world’s second-biggest foreign-exchange trader.

Europe’s currency is poised to weaken toward $1.30, analysts led by Mansoor Mohi-uddin, Zurich-based chief currency strategist at UBS, wrote in a note to clients yesterday. The analysts reiterated forecasts for the euro to trade at $1.40 in one month’s time and then drop.

“We remain positive on the U.S. dollar and think that the greenback is likely in its final stage of weakness,” the analysts wrote. “Equity and bond flows have the potential to surprise and could lend support to the dollar.”