Wednesday, December 17, 2008

Gary Owen

The origins of Garryowen are unclear, but it emerged in the late eighteenth century, when it was a drinking song of rich young roisters in Limerick. It obtained immediate popularity in the British Army through the 5th (Royal Irish) Lancers, who were garrisoned in Limerick and was played throughout the Napoleonic War, becoming the regimental march of the 18th Foot (The Royal Irish Regiment).

A very early reference to the tune appears in The Life of the Duke of Wellington by Jocquim Hayward Stocqueler, published in 1853. He describes the defence of the town of Tarifa in late December 1811, during the Peninsular War. General H. Gough, later Field Marshall Hugh Gough, 1st Viscount Gough, commanding officer of the 87th Regiment (at that time known as the Royal Irish Fusiliers), after repulsing an attack by French Grenadiers "...was not, however, merely satisfied with resistance. When the enemy, scared, ran from the walls, he drew his sword, made the band strike up 'Garry Owen', and followed the fugitives for two or three hundred yards."

Garryowen was also a favourite in the Crimean War. The tune has also been associated with a number of British military units, and is the authorised regimental march of The Irish Regiment of Canada. It was the regimental march of the Liverpool Irish, British Army.[citation needed] It is the regimental march of the London Irish Rifles (now part of The London Regiment (TA)). It was also the regimental march of the 50th (The Queen's Own) Foot (later The Queen's Own Royal West Kent Regiment) until 1869.

Garryowen became the marching tune for the 69th Infantry Regiment, New York Militia, (the famed "Fighting 69th" ) in the mid-1800s. The "Fighting 69th" adopted Garry Owen before the Civil War and recently brought it back to combat in Operation Iraqi Freedom

It later became the marching tune for the US 7th Cavalry Regiment during the late 1800s. The tune was a favorite of General George Armstrong Custer and became the official air of the Regiment in 1867. According to legend it was the last tune played before the Battle of the Little Bighorn.

The name of the tune has become a part of the regiment, the words Garry Owen are part of the regimental crest, and there is a Camp Garry Owen, north of Seoul, Korea, which houses part of the 4th Squadron of the regiment.The Seventh Cavalry regiment became a part of the US 1st Cavalry Division in 1921, and "Garryowen" became the official tune of the division in 1981.

The word garryowen is derived from Irish, the proper name Eóghan ("born of the yew tree") and the word for garden garrai - thus "Eóghan's Garden". The term refers to an area of the town of Limerick, Ireland.

In 1993, the popular Civil War Music Company, The 97th Regimental Stringband, recorded 'Garryowen' on their 'Marching Along' (Volume 6), a CD of Marching tunes.

Monday, December 15, 2008

Madoff ScandaL

Nomura says it could lose 302 mln dollars in Madoff scandal


Japan's top broker Nomura said Monday it faced losses of up to 27.5 billion yen (302 million dollars) due to the scandal surrounding New York investment manager Bernard Madoff.

"Nomura Holdings has confirmed that its Madoff-related exposure is worth 27.5 billion yen," the group said in a statement.

"The impact of the exposure is relatively limited in the light of our accounting capital," it said.

Madoff is alleged to have lost up to 50 billion dollars through a pyramid trading scheme which collapsed because of the financial crisis.

Despite the news, shares in Nomura Holdings rose 16 yen, or 2.40 percent, to 682 yen in early morning trade on the Tokyo Stock Exchange, as the benchmark Nikkei index surged more than four percent.

Several major financial institutions around the world have been hit by the fraud scandal, even as they struggle to weather the global financial crisis.

Spain's largest bank, Santander, said Sunday its investment fund unit may have lost 2.33 billion euros (3.1 billion dollars), while French bank BNP Paribas also revealed it could lose up to 350 million euros in the scandal.

European media have said HSBC of Britain and Union Bancaire Privee of Switzerland could also have suffered losses, although both have remained tight-lipped so far about potential exposure.

Madoff was arrested on Thursday for allegedly defrauding his customers through a giant pyramid scheme. Prosecutors say that the 70-year-old, a Wall Street veteran, has confessed to losing at least 50 billion dollars.