“So the Senate Banking Committee is beginning hearings today on the MF Global scandal, hearings entitled, “The Collapse of MF Global: Lessons Learned and Policy Implications.” Apparently the government has already moved to the reflective, introspective, South Park-ian, “You know, I learned something today!” stage in its examination of the scandal
Tarp Overseer Debunks Bailout Myths: Big Companies HAVEN’T Repaid Tarp Funds … And Funds to Help Homeowners HAVEN’T Been Disbursed
Apologists for government bailouts push two main myths:
That all of the bailout funds have been repaid
That the bailouts helped the average American
But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths.
Monsanto’s Food and Drug Administration can’t close down small dairies and private food clubs fast enough, bursting on the scene with guns drawn as if the criminalized right to contract for natural foods we’ve consumed for millennia deserves SWAT attention.
Now, Obama has the Dept. of Justice going after small farmers under the post-911 “Bank Secrecy Act” which makes it a crime to deposit less than $10,000 when you earned more than that.
About two dozen protesters chanting “Pay your fair share!” were escorted out of GE’s annual meeting this morning at the Detroit Marriott Renaissance Center.
If you enjoy watching financial doom, then you are quite likely to really enjoy the rest of 2012.
Right now, red flags are popping up all over the place. Corporate insiders are selling off stock like there is no tomorrow, major economies all over Europe continue to implode, the IMF is warning that the eurozone could actually break up and there are signs of trouble at major banks all over the planet.
Unfortunately, it looks like the period of relative stability that global financial markets have been enjoying is about to come to an end. A whole host of problems that have been festering just below the surface are starting to manifest, and we are beginning to see the ingredients for a “perfect storm” start to come together.
Contrary to the Obama administration’s claims, the bailouts of the financial and auto industries have not turned a profit for the U.S. government and may never turn a profit, according to a grim new assessment by the bailout’s watchdog.
Even by non-financial standards the bailout has been less than a roaring success and may be helping to lay the groundwork for future financial disasters and bailouts, writes Christy Romero, the Special Inspector General for the Troubled Asset Relief Program, in her latest quarterly report to Congress, released Wednesday morning.
Who’s bailing out the hard working citizens of this country?!?
NOBODY. And why?!? Because it is the large corporations’ contributions which make political campaigns successful.Corporations own Congress, which is why legislation is generally great for corporations, but lousy for We the People.
The alleged potential “profit” form this program is yet another lie, perpetuated by another President who has never, in his life, had to make payroll.
The erratic path of the three-year-old US economic recovery will weigh on Federal Reserve policymakers when they gather Wednesday amid a fresh bout of anxiety over the slow pace of revival.
The Fed’s interest rate-setting panel will end two days of meetings in Washington to decide whether more stimulus for the spluttering economy is warranted.
While Fed Chairman Ben Bernanke has sounded more positive about the state of the economy in recent weeks, high gasoline prices, slowing job growth and Europe’s debt problems will raise Fed fears of another springtime stumble.
There is no economic recovery, period, end of discussion.
The only thing the Federal Reserve can do is print more money, which will erode the value of the dollar even further.
And when the US government gets into financial deep kim chee, look for it to start a war, ANY WAR, as an attempt to distract the American people from their financial misery.
The insatiable thrust for federal spending continues. The will to correct our fiscal black hole is absent. Even the Tea Party Republicans lack the strength of determination and votes to reverse the ship of state.
No matter which party wins the next elections, the deficits facing the budget are huge. Until a total reformation of the way the central government functions, no solution is possible to balance the books.
There is no way to escape this stark reality. Expect more gimmicks, additional devaluation of the currency and the inevitable imposition of new forms of taxes.
In February of this year, the S&P warned that student loans may be the next bubble to burst in US economy. Moody’s also issued a similar warning in 2011.
With the interest on student loans set to double on July 1st, will it pop the student loan bubble, or is it the necessary medicine to slow down the growth of the bubble?…
Hundreds of highly paid City bankers and chief executives make up the vast majority of members of a tax avoidance scheme at the centre of a crackdown by the Revenue.
Alain Grisay, chief executive of F&C Asset Management, and Lance Uggla, who runs the financial data firm Markit, are among representatives from big business who are members of the Eclipse 35 film investment partnership loophole, an analysis of the accounts by The Independent has found.
Wells Fargo, Terrified to Face Victims of Its Foreclosure Fraud and Predatory Lending, Locks Shareholders Out of Annual Meeting
On March 24, Wells Fargo, assisted by dozens of Bay Area police, took the unprecedented step of locking more than 100 of its shareholders out of its annual meeting – a meeting they had every legal right to attend.
These shareholders had a story to tell, and Wells’ Chairman and CEO John Stumpf was not in a listening mood. They’d purchased stock in the bailed-out Wall Street giant, and then travelled from around the country to tell the board how its corporate citizenship gad ruined lives and wrought profound economic pain on entire communities.
Well, that’s one way to stem the tide of illegal aliens streaming across the border from Mexico.
Jack up unemployment rates to near double digits, dunk America into a double-dip recession and put us so deeply into hock with the Chinese communists that it will take generations for us to recover.
After long enough, living and working and trying to eke out bare survival in America becomes even worse than trying to get by in Mexico.