Arrest Warrant Issued for Alleged S. African Ponzi Schemer
November 1, 2009
Sydney, Australia
JTA Wire Service
An arrest warrant was issued for a Jewish South African businessman who is alleged to have duped investors in a Ponzi scheme.
Barry Tannenbaum is alleged to have defrauded investors out of $1.61 billion.
Finance Minister Pravin Gordhan said in parliament in Cape Town [...]
Largest Transfer of Wealth to Financial/Political Elite in Global History
By Carl Herman
October 21, 2009 “LA County Nonpartisan Examiner” – Political “leadership” of the two oligarchy parties spin their economic policy as being for the public benefit. Professional economists increasingly cast economic policy in unprecedented harsh criticism, even calling for public demonstrations against what they claim [...]
WALL STREET PONZI SCHEME CONTINUES UNABATED
The Dow is at 10,000, the Federal deficit is breaking records, unemployment is skyrocketing and money is cheap ~ so let’s inflate the same debt bubble, continue Wall Street’s derivative Ponzi scheme and let Main Street take the risk while Wall Street takes the profit: Allen [...]
Wow, this makes me mad:
How did Goldman, Sachs & Co. — saved a year ago by the US taxpayer — magically make $3 billion in 3 months a year later?
This as the US dollar collapses, unemployment soars and foreclosures hit a record?
Here is the Goldman, Sachs & Co. revenue break down for the past 3 [...]
Borrowing Trouble on Our Dime
by Becky Akers
by Becky Akers
Recently by Becky Akers: REAL [...]
Source: Zero Hedge
Max Keiser in his prime, discussing whether the crisis is over: “It’d not froth, it’s fraud. This is an incredible case of accounting fraud and the American peasants have got to be the stupidest people in the world today: they don’t mind becoming peasants, they don’t mind living like peasants, and if [...]
Source: MSNBC
Related Posts:A cold start to fall: over 4500 new snowfall, low temp, and lowest max temp records set in the USA this last week
Student Loans are the New Indentured Servitude
By Mike Konczal
October 13, 2009 “The Atlantic” — The Wall Street Journal ran a post over the weekend about a new credit crunch among low income borrowers, noting it is now ‘payback time.’ What they didn’t go into is that their primary interviewee is drowning not on expensive cars [...]
Take America Back From the Banks
Reining in the financial industry’s power and greed will be a long, hard-fought war. But it is one that must be fought
By Dean Baker
October 13, 2009 “The Guardian‘ — The elites hate to acknowledge it, but when large numbers of ordinary people are moved to action, it changes the narrow [...]
Source: RawStory
Yesterday, we brought you the insurance company that wouldn’t insure a 17-pound infant because he was too heavy. Today, we bring you the investment bank that manages to double its bonuses during the worst recession since the Great Depression.
On Thursday, Goldman Sachs will announce the firm’s bonus payments for 2009. Analysts expect the bonus [...]
rense.com
Sweatshop Conditions In US Cities
By Stephen Lendman
10-9-9
A new low-wage industry study by the Center for Urban Economic Development, the National Employment Law Project, and the UCLA Institute for Research on Labor and Employment exposes the dark side of workforce exploitation in America’s three largest cities – New York, Los Angeles and Chicago.
From January through August [...]
by Jr Deputy Accountant | Wednesday, October 07, 2009 Source: goldmansachs666
Editors note: TheCenterLane often covers Wall Street Mafia issues and was also kind enough to do a guest post for me – coincidentally on the NY Fed – so I could run off to Washington to flip off the Treasury. Though this post is months [...]
Source: Washington’s Blog
Janet Tavakoli is one of the foremost experts on structured finance and derivatives.
Tavakoli made an outstanding presentation to the IMF last week on the fraud which led to the financial crisis.
Tavakoli was kind enough to send me a summary of the IMF presentation (and to give me permission to reprint the summary).
Making many [...]
Where has the Bailout Money Gone? Good Billions After Bad
Vanity Fair
by Donald L. Barlett and James B. Steele
As the Bush administration waned, the Treasury shoveled more than a quarter of a trillion dollars in tarp funds into the financial system—without restrictions, accountability, or even common sense. The authors reveal how much [...]
The First Shots of the Trade War
By Shamus Cooke
With the G-20 summit approaching, cheerful talk of “international cooperation” fills the White House press-room. These comments carry with them the implication that “free trade” is integral to “cooperation,” a fact made explicit in the last meeting of the G-20. There, in the name of “united action,” [...]
This agreement is another example of a “too-big-to-fail” bank underpaying taxpayers for the insurance that helped keep it afloat during the market troughs.
This is less than one-tenth of the price Bank of America promised taxpayers on January 15, 2009. For all the talk by BofA CEO Ken Lewis and others that they did [...]
The Economy Is A Lie, Too
By Paul Craig Roberts Rense
Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.
The spin that masquerades as news [...]
by Ellen Brown
Web of Debt
A year after the bankruptcy of Lehman Brothers on September 15, 2008, questions still swirl around its collapse. Lawrence MacDonald, whose book A Colossal Failure of Common Sense came out in July 2009, maintains that the bank was not in substantially worse shape than other major Wall Street [...]
By Lauren Schenkman, Inside Science News Service
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WASHINGTON — A recent analysis of the 2007 financial markets of 48 countries [...]
Source: Campus Report Online – Anthony Kang
President Obama has now been in office for over six months and despite his signature $787 billion stimulus, unemployment remains above 9 percent.
“The federal government is the only entity left with the resources to jolt our economy back into life,” Obama said back in February. Touted at the time [...]
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