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Meet Jed Rakoff, the Judge Who Exposed the “Rigged Game”
Meet Jed Rakoff, the Judge Who Exposed the “Rigged Game” “We have mass incarceration for the poor, and it’s totally hands-off for the rich, and that’s pretty hard to stomach.” Justice Jed Rakoff on his new book, and his famous challenge to the system Jed Rakoff On November 27, 2011, a federal judge named Jed […]
Fed Drains $351 Billion in Liquidity from Market via Reverse Repos, as Banking System Creaks under Mountain of Reserves
Fed Drains $351 Billion in Liquidity from Market via Reverse Repos, as Banking System Creaks under Mountain of Reserves This is the first time I’ve seen Wall Street banks clamor for the Fed to back off QE. The Fed is struggling to keep the liquidity it created from going haywire. In the fall of 2019, […]
The Coming Banking Crisis & The End of Bailouts
The Coming Banking Crisis & The End of Bailouts Behind the curtain, there is a growing concern about a serious banking crisis beginning once again in Europe. Many governments are talking about the crisis behind-the-curtain and we are now beginning to see steps that are being taken to end the TO-BIG-TO-FAIL policies that dominated the […]
How the US Aristocracy Deceive the US Public
How the US Aristocracy Deceive the US Public The progressive former Democratic US Senator Ted Kaufman wrote at Forbes, on 22 July 2014: Another year has passed with no one from a Wall Street bank going to jail for the criminal behavior everyone knows helped cause the financial crisis. Fines against Wall Street banks are reaching $100 […]
Record Surge in Riskiest Loans Fattens Wall Street Banks
Record Surge in Riskiest Loans Fattens Wall Street Banks Crackdown efforts by bank regulators are put on hold. The volume of leveraged loans – the riskiest loans Wall Street banks provide – has surged 38% year-over-year and has already beaten the full-year record set in 2013, according to Dealogic. Total of leveraged loans outstanding has […]
Wall Street Bankers and Lobbyists Move to Ensure Industry Continues to Regulate Itself
Wall Street Bankers and Lobbyists Move to Ensure Industry Continues to Regulate Itself Not content with continued prosecutorial immunity and trillions in taxpayer bailouts and backstops, Wall Street banksters are making moves to ensure they regulate themselves. In case you’re still wondering who the real owners of this country are… The Wall Street Journal reports: ORLANDO, Fla.—Wall Street’s top […]
Deranged Central Bankers Blowing Up the World
DERANGED CENTRAL BANKERS BLOWING UP THE WORLD It is now self-evident to any sentient being (excludes CNBC shills, Wall Street shyster economists, and Keynesian loving politicians) the mountainous level of unpayable global debt is about to crash down like an avalanche upon hundreds of millions of willfully ignorant citizens who trusted their politician leaders and […]
The Sleepwalkers Awaken
The Sleepwalkers Awaken A host on bubblevision this afternoon noted that the S&P 500 is now down $2 trillion for the year and wondered if his panel could explain “what’s happened since January 1st?” The implication, of course, was that since no new recessions have started—- nor have any new wars been declared, polar glaciers melted or Wall Street banks […]
Hillary, Bernie, and the Banks
Hillary, Bernie, and the Banks Giant Wall Street banks continue to threaten the wellbeing of millions of Americans, but what to do? Bernie Sanders says break them up and resurrect the Glass-Steagall Act that once separated investment from commercial banking. Hillary Clinton says charge them a bit more and oversee them more carefully. Most Republicans […]
A Currency War That Few Economists and Analysts Notice, Much Less Understand
A Currency War That Few Economists and Analysts Notice, Much Less Understand “The enormous gap between what US leaders do in the world and what Americans think their leaders are doing is one of the great propaganda accomplishments of the dominant political mythology.” Michael Parenti Most economists and financial analysts think that ‘currency war’ merely […]
Santa Cruz County Votes to Cease Doing Business with Five TBTF Mega Banks
Santa Cruz County Votes to Cease Doing Business with Five TBTF Mega Banks This is impressive. Very, very impressive. It appears that Ryan Coonerty, the Supervisor of the Third District of Santa Cruz County, wrote a letter back in June to the rest of the Board of Supervisors, in which he bravely pleaded the county cease business […]
Emails Reveal Coziness Between Koch Lobbyists and Regulators
Emails Reveal Coziness Between Koch Lobbyists and Regulators The close ties between corporate interests and the regulators who are supposed to police them contributes, many argue, to fundamentally lax oversight. Emails I recently obtained through a records request show how cozy a Koch Industries lobbyist is with officials at the Commodities Futures Trading Commission, the […]
“Free Trade” Run Amok: Canada Challenges U.S. Laws Reining In Banks
“Free Trade” Run Amok: Canada Challenges U.S. Laws Reining In Banks We noted in 2013 that the Trans Pacific Partnership (TPP) would let big banks run amok, and wouldincrease the cost of consumer loans. Ellen Brown asked last month: Under the TPP, could the US government be sued and be held liable if it decided to stop […]
Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives
Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives. Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market? The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a […]
