Obama to Use Pension Funds of Ordinary Americans to Pay for Bank Mortgage “Settlement” January 24, 2012 Print Version Source: Naked Capitalism Obama’s latest housing market chicanery should come as no surprise. As we discuss below, he will use the State of the Union address to announce a mortgage “settlement” by Federal regulators, and at [...]
Bank Of America Dumps $75 Trillion In Derivatives On U.S. Taxpayers With Federal Approval December 23, 2011 Print Version Source: Seeking Alpha Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along [...]
Wall Street’s “Secret Government” December 2nd, 2011 Via: Alternet: We now have concrete evidence that Wall Street and Washington are running a secret government far removed from the democratic process. Through a freedom of information request by Bloomberg News, the public now has access to over 29,000 pages of Fed documents and 21,000 additional Fed [...]
Occupy Movement: Next Step Convergence The US Occupy movement is at a critical point. To succeed it must develop a message of specific solutions to fix our broken system. People are seeing the next step as advocacy for constitutional amendments proposed through an Article V convention. by Joel S. Hirschhorn (libertarian) Contact Joel S. Hirschhorn [...]
Fed secretly handed out $8 trillion November 28, 2011 Print Version Source: RT We knew the last bailout from the Federal Reserve was pretty big, but not until now did we have statistics on the actually tally. If you thought that the $700 billion bailout for TARP was big, get a load of this. Just [...]
AIG Sues U.S. Taxpayers for 25 Billion…Really. « on: November 23, 2011, 03:04:09 AM » A company run by former American International Group Chief Executive Maurice “Hank” Greenberg Monday filed a $25 billion lawsuit against the United States, claiming that the government takeover of the insurer was unconstitutional. In its complaint, Greenberg’s Starr [...]
U.S. boosts estimate of auto bailout losses to $23.6B November 17, 2011 Print Version Source: Detroit News The Treasury Department dramatically boosted its estimate of losses from its $85 billion autoindustry bailout by more than $9 billion in the face of General Motors Co.’s steep stock decline. In its monthly report to Congress, the [...]
Written on November 18, 2011 | Posted in
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How the Eurocrisis laid bare world’s new economic order October 30, 2011 Print Version Source: Guardian The French Riviera in November conjures up images of ageing playboys eking out the last rays of autumn sunshine on the Croisette over a pastis. So it may be fitting that Nicolas Sarkozy has chosen Cannes as the [...]
EU Considers Temporary Bans on Sovereign Ratings October 20, 2011 Print Version Source: WSJ BRUSSELS—The European Commission is leaning toward proposing a ban on the issuing of sovereign credit ratings for countries in bailout talks, a top official said on Thursday. “I think it’s legitimate to have a special treatment when a country is [...]
Obama administration ‘bailed out’ GM salmon firm October 19, 2011 Print Version Source: Guardian UK The Obama administration awarded a coveted research grant to a financially strapped company working to put genetically modified (GM) salmon on American dinner tables, overlooking disclosures that the firm could run out of cash in early 2012, it has [...]
Written on October 20, 2011 | Posted in
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The Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer October 18, 2011 Print Version Source: Washington’s Blog Bloomberg reports that Bank of America is dumping derivatives onto a subsidiary which is insured by the government – i.e. taxpayers. Yves Smith notes: If [...]
Boston police impose curfew for protesters October 11, 2011 Print Version Source: Boston.com Boston police moved in and began arresting scores of Occupy Boston protesters who refused to leave a large part of the Rose Fitzgerald Kennedy Greenway early this morning. At 1:20 a.m., the first riot police officers lined up on Atlantic Avenue. Minutes [...]
Written on October 11, 2011 | Posted in
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Wall Street Protesters Plan ‘Millionaires March’ to Tycoons’ New York City Homes October 11, 2011 Print Version Source: Fox News NEW YORK – Protesters from the Occupy Wall Street movement plan to leave their downtown Manhattan headquarters Tuesday and head uptown as part of a “Millionaires March” visiting the homes of some of New York [...]
Written on October 11, 2011 | Posted in
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Even before its scheduled start this weekend, mention of the “Occupy the Fed” movement, which aims to bring attention to the real culprits behind America’s economic plight, is spreading, not just across the United States, but overseas as well. The corporate-financier elite which dominates the Western media are attempting in vain to redirect the [...]
Economist: The Financial System Is Broken And Corrupt October 9, 2011 Print Version Source: Washington’s Blog Prominent economist Michael Hudson explains that the financial system is so fundamentally broken and corrupt that the message of the Occupy Wall Street protesters can’t be reduced down to a handful of “technocratic fixes”. Hudson also said: Banking should [...]
