The Wall Street Connection (1992 to 2016) By Nomi Prins | TomDispatch | May 7, 2015 [This piece has been adapted and updated by Nomi Prins from chapters 18 and 19 of her book All the Presidents’ Bankers: The Hidden Alliances that Drive American Power, just out in paperback (Nation Books).] The past, especially the political […]
The sudden dramatic collapse in the price of oil appears to be an act of geopolitical warfare against Russia. The result could be trillions of dollars in oil derivative losses; and the FDIC could be liable, following repeal of key portions of the Dodd-Frank Act last weekend.
Wall Street’s big banks and their financial networks that collapsed the U.S. economy in 2008-2009, were saved with huge bailouts by the taxpayers, but these Wall Street Gamblers are still paid huge money and are again creeping toward reckless misbehavior. Their corporate crime wave strip-mined the economy for young workers, threw them on the unemployment rolls and helped make possible a low-wage economy that is draining away their ability to afford basic housing, goods, and services.
My neighbor Warren doesn’t understand high finance. He’s a physician, and they’re usually pretty savvy market-wise, but he’s an exception. Yesterday over the back fence he was expressing alarm over what he thought was a dangerous development in the banking sector.
“It seems that the next big thing on Wall Street,” said Warren, “is banks and other players bundling rental housing into a new product, that is a rent-backed security, similar to the mortgage-backed securities (MBS) that were at the root of the big crisis in ’09.”
By CHRISTOPHER BRAUCHLI | CounterPunch | December 20, 2013
One has to feel sorry for JPMorgan Chase. Several months ago it thought it had not only paid a sufficient amount in fines to make up for its bad behavior but it had also engaged in a form of penance for some of the bad things it had done. Little did it know.
Through its provisions, Public Act 436 establishes a new form of local government, previously unknown within the United States or the State of Michigan, where the people within local municipalities may be governed by an unelected official who establishes local law by decree.
– Complaint for Injunctive Relief, Phillips et al. v. Snyder, U.S. District Court for Eastern Michigan
The Group of Thirty (or G-30) describes itself as “a private, nonprofit, international body composed of very senior representatives of the private and public sectors and academia,” which “aims to deepen understanding of international economic and financial issues, to explore the international repercussions of decisions taken in the public and private sectors, and to examine the choices available to market practitioners and policymakers.”
By Michel Chossudovsky | RT | November 14, 2013
Typhoon Haiyan (Yolanda), the strongest tropical typhoon ever recorded, has resulted in devastating consequences for the Philippines. The natural disaster took the lives of more than 10,000 people.
An estimated 615,000 residents have been displaced. Up to 4.3 million people have been affected, according to government sources.
