Macca says The Beatles became victims of success

Washington, Sep 2 (ANI): Brit singer Sir Paul McCartney has in an exclusive interview spoken out about the final days of ‘The Beatles’, and insisted that the group became victims of their own success when businessman Allen Klein took over their financial affairs.

According to music magazine Mojo, McCartney said that he and his bandmates struggled to come to terms with all the business decisions they were suddenly forced to make as they were recording their final album ‘Abbey Road’.

The fight between them over cash and contracts really became a huge burden.

“We were musicians, we were kids from Liverpool, we’d gone to grammar schools, we’d done Hamburg – we kind of knew all that,” Contactmusic quoted him as saying.

“But the idea that you were going to get this money and someone was going to take it off you…

“I think we all just thought, ‘You get the money, you put it in a bank, and it gradually gets bigger,’ and you say, ‘Thank you very much, and you live happily ever after.’ Then you suddenly get with accountants and they say, ‘No, you can’t just sit there’.

“Then there’s tax, and some business person is on a raid – it was a huge upheaval,” he said.

McCartney also admitted that the group’s business woes were poured into their new songs.

“George (Harrison) would write Piggies, and I knew exactly what he was talking about, and he wrote Taxman when we first found out about the tax system,” he said.

The rift between the group eventually led to a court battle before the band broke up, with many fans blaming Klein for contributing to the group’s split.

McCartney refused to be drawn into talking about Klein, but hinted that he still had not forgiven the businessman for things that would remain unspoken.

“I don’t want to speak ill of the dead,” he added.

Klein passed away in New York earlier this summer, after a long battle with Alzheimer’s disease. (ANI)

Debt-ridden Jacko applied for loans under 20 fake names

London, July 3 (ANI): Late King of Pop Michael Jackson was so desperate to have money that he had applied for loans under 20 different names, it has been revealed.

According to the confidential financial papers, the applications for loan went under the pseudonyms President Mr. Michael Jackson, Michael JJJ Christ-Jehovah, Michael J Jackson ChristJeh, Michael Jackson Jehovah, and Mike J Jackson.

He even tried to alter the spelling of his first name using Micheal and Micheel.

The King of Pop’s credit score was 447.

Moreover, the maximum allowed limit on the last of four credit cards he was permitted, from Capital One, was 450 dollars.

“Michael Jackson’s financial affairs were beyond a mess with county court judgments and taxes owed all over the place. No bank was prepared to bail him out towards the end,” the Sun quoted a financial source as saying.

“He was rejected for loan after loan after loan.

“He was getting desperate,” the source added.

“It is illegal for a person to make any false statement regarding matters of identification in a loan and credit application for the purpose of influencing in any way the action of a financial institution,” said Loan specialist Mike Sikorski, of Florida Realty Network.

“The FBI investigates these crimes where individuals could face up to 30 years in prison, a $1million fine, or both,” he added.

It is said that the ‘Thriller’ hitmaker owed at least 300million dollars when he died, and had been begging banks for money. (ANI)

US to set up own monitoring cell to keep tabs on entire Pak aid package

Islamabad, July 1 (ANI): The United States has said it would establish its own monitoring system to keep a check on the entire financial aid package being offered to Pakistan.

Sources said David Lipton, Senior Director for International Economics, National Security Council of USA, during his recent visit to Pakistan, met Prime Minister Yousuf Raza Gilani’s Adviser on Financial Affairs, Shaukat Tarin, and told him about the monitoring cell.

The United States has also asked Pakistan to make arrangements for the posting of the US inspectors, The Nation reports.

During the meeting, Lipton assured Islamabad of all possible help and said it is very important that Pakistan moved in the right direction.

Lipton was accompanied by US Ambassador Anne Patterson and the Deputy Assistant Secretary for Asia of the Treasury Department, Robert Dohner.

The delegation also met President Asif Ali Zardari, during which Zardari urged the international fraternity to help Pakistan come out of the economic crises that it is currently facing.

Zardari said that Pakistan was facing an adverse economic situation primarily due to the war against extremism.

“The world should step forward to address the economic problems to pursue the fight against militancy to its logical conclusion,” said Zardari.

Zardari said Pakistan is facing very difficult situation, as it has to rebuild its economic infrastructure damaged during the war against terrorism, rehabilitate over two million people displaced due to the Swat military operation, and strengthen its civilian law enforcement agencies to prevent extremism from expanding.

He also stressed on the need for a massive literacy programme to help people fight terrorism. (ANI)

Lutfi’s sister says Britney wanted her brother’s help

New York, Apr 3 (ANI): The sister of Britney Spears’ former manager Sam Lutfi has testified that the pop singer told her in recent months that she needed her brother’s help to hire her own attorney.

Attorneys for Britney’s father and conservator, Jamie Spears, have been seeking a long-standing restraining order against Sam, a manager and close confidant of the singer during her personal meltdown, that forbids him from contacting her.

Sam’s sister Christina Lutfi was called as a surprise witness at a Los Angeles court. She said that she teamed up with Britney to contact her brother in a spy novel-like plan.

Britney, whose phone access is strictly limited by her father, allegedly asked Sam to sneak a cell phone to her at a Beverly Hills hotel in mid- January, according to Christina.

“[Britney] told me she wanted to get a hold of Sam,” the New York Daily News quoted Christina, as telling People magazine.

“She wanted him to help her find a lawyer, and wanted someone to get a pre-paid cell phone to her. She was scared because her father was blackmailing her with visitation rights over her kids,” she added.

Christina said that she met with Britney in a hotel sauna where the singer was handed a phone.

“She asked me, ‘Will Sam be able to help me?’” Christina said.

Britney then hid the phone in a locker.

Jamie Spears, who has controlled his daughter’s personal and financial affairs since early last year, testified back in February that he eventually found and confiscated the phone.

However, Jamie’s lawyer Blair Berk has dismissed rumours that the singer wants to end her father’s legal control.

Britney “was in such fear [of Sam], she asked if I could get him arrested, to keep him away from her,” said Berk.

Meanwhile, Sam’s attorney, Bryan Freedman has denied his client has committed any wrongdoing.

“Sam’s only crime was trying to help out a friend. When someone asks for your help, that person is obviously not scared of you or in need of a restraining order.” Freedman said.

Freedman argued that Spears’ attorneys have not shown enough evidence of ‘substantial emotional distress’ as a result of communication with Sam.

Closing arguments in the case will be heard on April 21. (ANI)

Britney compares dad’s control to “prison”: Lufti’s lawyer

Washington, Apr 2 (ANI): A lawyer of Britney Spears’ ex manager Sam Lufti has revealed that the pop diva’s life under her dad’s conservatorship is like “prison.”

In a hearing in a Los Angeles court, where Spears’ conservators are seeking restraining orders against her former manager Lutfi and lawyer Eardley, John Anderson testified he was contacted by Eardley, to represent Britney in her fight against the conservatorship (which gives Jamie Spears control over her personal and financial affairs).

He also said that Jamie’s control is causing the singer “emotional distress [that is ongoing] now,” reports Usmagazine.

However, Jamie’s lawyer Blair Berk argued that Britney repeatedly told her she did not want Eardley “to have anything to do with her.”

Berk also called Lutfi an “alleged extortionist” after he threatened to release “unflattering information” about Jamie if she didn’t “do something to stop it.”

Jamie’s lawyer also talked about the voicemail that surface on Internet, where Britney was heard asks for help getting out of her father’s control.

Berk said the tape might have been edited, and she does not believe it is Britney.

Lutfi’s sister Christina also testified that, while sharing a cell phone with her brother, Britney called because “she wanted [Lutfi] to get her a new lawyer. She was afraid of her father and wanted a way to get a prepaid cell phone.” (ANI)

EXTRA: Some AIG workers offer to return incendiary bonuses

Washington – In a conciliatory gesture, some AIG employees have offered to return some of the 165 million dollars in bonuses at the centre of public ire over the government financial bail-out programme, the company’s head said Wednesday.

Edward Liddy, appointed by the US government in September to head the floundering American International Group (AIG), revealed the gesture in testimony before a House Financial Affairs subcommittee.

The US Congress and administration of President Barack Obama are trying to figure out how to block future bonus payments – a commitment estimated at 1 billion dollars – and recover the 165 million dollars that were paid on Friday.

AIG is being kept afloat by an estimated 180 billion dollars of government money intended to help unblock the freeze in credit markets, and defenders of the 165 million dollars in bonuses say they represent only a small fraction of the total.

But Obama and others have said the payments violate American values by rewarding incompetence – which they say is what happened when AIG paid bonuses to traders who insured and traded in financial instruments that helped trigger the global credit crisis.

Liddy said he had asked employees of the financial products unit at the heart of much of the problem to “step up and do the right thing” by offering to return at least half of all bonuses in excess of 100,000 dollars.

“Some have stepped forward and offered 100 per cent,” Liddy said. “We are working to ensure the highest level of employee participation in the days ahead.”

AIG has claimed it is legally obligated to pay the bonuses, which it says are needed to retain top talent and were included in contracts before the bailout.

Liddy defended the bonuses to Congress, saying he was trying “desperately to prevent an uncontrolled collapse” of the business. He said the only way to “avoid systemic shock to the economy” was to pay the bonuses to the traders who were sorting out the malaise at the centre of the AIG crisis.

He said the financial products unit had already shown considerable progress in getting rid of the toxic assets.

“We are executing a methodical, orderly wind-down of AIG financial products, the business that caused many of the company’s financial problems,” he said in his statement. “We have reduced the notional value of AIG financial products’ derivatives business from 2.7 trillion dollars to 1.6 trillion dollars.”

Without the financial products unit employees, he warned that the US government would face an implosion of the remaining 1.6 trillion dollars, which it would also have to bail out. (dpa)