ECONOMY

Oct 20 15:17

Sedan again as Germany imposes terms

There is an "unequivocal commitment" that haircuts will be confined to Greece alone. If you believe that, I have some ocean-front property to sell you in Alsace.

Fresh details soon.

Oct 20 15:14

EU Considers Temporary Bans on Sovereign Ratings

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.

Webmaster's Commentary: 

Basically, this is like asking for a credit card but refusing to turn over your credit scores, and the EU us not doing this because the numbers are good!

Aug 17 17:06

FLASHBACK - High-Frequency Trading: High-tech highway robbery

The Securities and Exchange Commission (SEC) knows that High-Frequency Trading (HFT) manipulates the market and bilks investors out of tens of billions of dollars every year. But SEC chairman Mary Schapiro refuses to step in and take action. Instead, she's concocted an elaborate "information gathering" scheme, that does nothing to address the main problem. Schapiro's plan--to track large blocks of trades by large institutional investors-- is an attempt to placate congress while the big Wall Street HFT traders to continue to rake in obscene profits. It achieves nothing, except provide the cover Schapiro needs to avoid doing her job.

Aug 17 16:44

FLASHBACK - FBI Probing SEC Attorneys for Insider Trading

Two enforcement lawyers at the Securities and Exchange Commission are being investigated by federal prosecutors and the FBI for possible insider-trading violations, according to a report from the SEC's inspector general.

The criminal investigation, which was disclosed to SEC Chairman Mary Schapiro in a March 3 memo, came about after SEC Inspector General H. David Kotz conducted his own investigation into the matter and referred it to criminal authorities after discovering suspicious trading activity.

Webmaster's Commentary: 

Is this one reason Madoff went unchecked for so long? Were SEC insiders sharing in the goodies?

Aug 17 16:44

FLASHBACK - Kucinich Who Told SEC to "Stand Down" on Stanford Probe

Chairman of the Domestic Policy Subcommittee, Congressman Dennis Kucinich (D-OH) today sent a letter to Ms. Mary Schapiro, Chair of the Securities and Exchange Commission (SEC) requesting documents that could reveal which government agency told the SEC to "stand down" rather than take enforcement action against the Stanford Group in October 2006 as has been reported by the New York Times.

Webmaster's Commentary: 

I want to know who told the SEC to stand down from investigating Madoff!!!

Apr 18 19:38

FLASHBACK - OFFSHORING AMERICAN JOBS - Corporations, Campaign Cash, & Bush Administration Policies.

Webmaster's Commentary: 

This document lays out the means by which the Bush administration changed the laws and tax codes to allow and even encourage corporations to send high-paying jobs to American companies even as Wall Street was already cranking up the machine to create and sell fraudulent mortgage=-backed securities.

The email responses to my expose' that the US is being looted to cover the buyback of fraudulent mortgage-backed securities usually view the firestorm of foreclosures as a knee=jerk reaction by the bankers to keep their balance sheets intact, but in looking at the timing of the Bush policies, and the fact that President George W. Bush was the first President to end his administration with fewer working Americans since Hoover, it seems clear that it was intended right from the start of the crisis to destroy Americans' ability to pay their mortgages, in order to allow the banks to seize those homes to preserve their capital structure.

Outright nationalization of private property would have triggered a rebellion, but by getting rid of the high paying jobs, the banks could grab the property to recapitalize themselves and make it look like it was the homeowners' fault!

This is the only possible explanation of why, in his first two years in Office, President Obama did nothing to stop the offshoring of American jobs, and indeed in the last two years, overall, offshoring has increased, and those jobs are never coming back!

This disaster is a deliberate creation of Wall Street and Washington DC. It's purpose is at best fulfillment of simple greed by the money addicts; at worse a plot to trap the whole world in a globalized version of a private central bank; a Federal Reserve on steroids!

Jan 08 10:58

Feast in Time of Plague: Wall Street Art of Sucking Money

Webmaster's Commentary: 

THE US GOVERNMENT TOOK YOUR JOBS SO THE BANKS COULD TAKE YOUR HOMES TO COVER THE COSTS OF THEIR MORTGAGE-BACKED SECURITY FRAUD

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