Tag Filter: Banks

Seven Reasons Bernanke’s Failure to Taper Portends Doom

Yesterday, Federal Reserve Chairman Ben Bernanke announced that the government would not slow its bond purchasing (money printing) because the economy had not yet improved sufficiently. The magnitude of this decision is still being absorbed, but may have negative effects on the entire world in the coming years.
How exactly? This might be a bit wonky, [...]

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US, UK, and Canada Have Plan To Allow Banks to Seize Depositor Accounts

In our last story, we noted how government backed loans in the housing market encourages rising home and rent prices throughout the nation, a transfer of wealth from almost every single American to various establishment organizations. Now we have another example of banks transferring risk to the taxpayer.
The term “Too Big To Fail” should have [...]

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Government Pushes For a New Housing Bubble; Backs Subprime Loans With Taxpayer Dollars

The divide between what the majority of people want verses what the establishment wants is never greater than it is when discussing property values. Those who have assets want them to rise in price, while the poor and those just starting out want lower prices they can afford. Of course, they have no political power. [...]

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Libor Humor

Courtesy of comedians John Oliver and Andy Zaltzman, some comedic commentary on the Libor scandal. Accurate and humorous, they state: “I cannot afford my brain to be distracted for a second by the lingering suspicion that our entire society is based on greed fueled financial trickery and economic larceny on a mathematically unfathomable scale.”
That’s it, [...]

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David Stockman: We Will Suffer One Crisis After Another

We hear a lot these days that due to high levels of sovereign and private debt, we will be unable to avoid a massive financial collapse, reshaping the world as we know it. Usually, proponents argue the collapse will happen quickly, bringing about a short term political vacuum and by necessity, a new economic model. Odd as [...]

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Justice In America is a Farce

Finally, our long national nightmare is over. The government brought charges, submitted its case to the people, and the people decided. Baseball player Roger Clemens has been acquitted of perjury for allegedly lying to congress when asked about using performance enhancing drugs.
Of course, no amount of press fanfare should be spared for such a monumental [...]

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Tyranny Engulfs Europe: Neo-liberalism in Greece and Spain

When I was a child, friends and I would waste time on the railroad tracks behind my house. The funny thing about industrial trains is that you’d think the massive hulk of steal and engine would be audible from a mile away and yet we continued to find ourselves surprised at how silently it approached. [...]

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What Experts Say About the JOBS Act

The Jumpstart Our Business Startups Act or JOBS Act was passed last Thursday to no great fanfair, but we wonder if it may yet go down in history alongside Gramm-Leach-Bliley as a law which helped set the stage for  ’pump and dump‘ bubble schemes and financial fraud. To put it another way, its a bad law, one [...]

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A Whistleblower Extravaganza

It’s truly amazing how many stories involving whistle-blowers have come out during the last few months of the Obama Administration. First there was Greg Smith’s op-ed in the New York Times condemning the culture of greed that has enveloped Goldman Sachs which has clearly rocked the establishment. Then there was the somewhat questionable anonymous writer [...]

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Judge Stands Up For the People and Everyone Complains

Judge Jed Rakoff is probably one of the few honest judges we have left.  He recently refused to accept an SEC settlement with Citigroup in which they sold mortgages and then bet against them, saying that the $95 million they were asked to pay was “pocket change” and required no admission of guilt.
“If the allegations [...]

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