Banks/Banking

In Part 1 of this series, I examined the history and early evolution of the annual meeting that takes place among world bankers and financial and monetary officials at the International Monetary Conference. Part 2 looked at the role of the IMC in the lead-up to the 1980s debt crisis.

Funding infrastructure through bonds doubles the price or worse. Costs can be cut in half by funding through the state’s own bank.
“The numbers are big. There is sticker shock,” said Jason Peltier, deputy manager of the Westlands Water District, describing Governor Jerry Brown’s plan to build two massive water tunnels through the California Delta. “But consider your other scenarios. How much more groundwater can we pump?”

This is the premiere of my new music video.
The song is entitled “Brittle Action Figures” and features Chris Barron from DeVotchKa on trumpet.
The song is about my parent’s home, which was foreclosed on by Bank of America last year.  The house was built by my grandpa and is  where my dad grew up as well as me.

For full album stream of  Newstalgia click here.

The industry still prizes short-term profit over long-term prudence, today’s bonus over tomorrow’s relationship.
— Christine Lagarde, IMF Chief, May 27, 2014

In part 1 of this series (“Globalization’s Game of Thrones”) I examined the concept of corporate and financial dynasties holding significant power in the modern world.

In the first part of this Global Power Project series, I examined the origins and early evolution of the International Monetary Conference, an annual meeting (to be held June 1-3 in Munich) of several hundred of the world’s most influential bankers who gather in secrecy with the finance ministers, regulators and central bankers o

The movement to break away from Wall Street and form publicly-owned banks continues to gain momentum. But enthusiasts are deterred by claims that a state-owned bank would violate constitutional prohibitions against “lending the credit of the state.”
California’s constitution is typical. It states in Section 17: “The State shall not in any manner loan its credit, nor shall it subscribe to, or be interested in the stock of any company, association, or corporation . . . .”

Last week, in Part 1 of the Global Power Project’s investigations into the machinery behind the International Monetary Conference, I examined the history and evolution of the IMC from its founding by the American Bankers Association in 1954 to the global financial and monetary disruptions of the late 1970s.

Ever heard of the International Monetary Conference? No, I’m not referring to the annual meeting of the IMF and World Bank but rather to another, more secretive annual gathering – this one hosted by the American Bankers Association and bringing together chief executives from over 100 of the world’s largest banks.

NOTE: This interview was conducted in late February 2014, before a sentencing hearing that was eventually postponed. Ms. McCulley was then sentenced to a year each of prison and probation on April 25, 2014. She is now requesting a Reconsideration of her sentence, and this request will be heard on May 8, 2014.