Financial Crisis'

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who creates money ? demise of democratic control ?

The Untouchables | FRONTLINE

January 22, 2013 FRONTLINE investigates why Wall Street’s leaders have escaped prosecution for any fraud related to the sale of bad mortgages. SEC Nominee Signals Cautious Approach to Prosecuting Banks March 13, 2013, 1:18 pm ET · by Jason M.

http://www.pbs.org/wgbh/pages/frontline/untouchables/

http://www.guardian.co.uk/commentisfree/2013/jan/23/untouchables-wall-street-prosecutions-obama

(updated below - Update II) PBS ' Frontline program on Tuesday night broadcast a new one-hour report on one of the greatest and most shameful failings of the Obama administration : the lack of even a single arrest or prosecution of any senior Wall Street banker for the systemic fraud that precipitated the 2008 financial crisis : a crisis from which millions of people around the world are still suffering. What this program particularly demonstrated was that the Obama justice department, in particular the Chief of its Criminal Division, Lanny Breuer, never even tried to hold the high-level criminals accountable. What Obama justice officials did instead is exactly what they did in the face of high-level Bush era crimes of torture and warrantless eavesdropping: namely, acted to protect the most powerful factions in the society in the face of overwhelming evidence of serious criminality.

The Untouchables: How the Obama administration protected Wall Street from prosecutions | Harry J Enten | Comment is free

accountancy firms - Deloitte , Ernst & Young, KPMG , Pricewaterh

Bank Charter Act 1844

The Bank Charter Act 1844 (7 & 8 Vict. c. 32) was an Act of the Parliament of the United Kingdom , passed under the government of Robert Peel , which restricted the powers of British banks and gave exclusive note-issuing powers to the central Bank of England . [ 1 ] It is one of the Bank of England Acts 1694 to 1892 . [ 2 ] [ edit ] Purpose Until the mid-nineteenth century, commercial banks in Britain and Ireland were able to issue their own banknotes, and notes issued by provincial banking companies were commonly in circulation. [ 3 ]

via: http://pear.ly/pbNuu +/- 5:30 -->> by notpicnic Nov 4

Richard Nixon (1971) Zwei politische Entscheidungen der amerikanischen Regierung des Jahres 1971 über Veränderungen der amerikanischen Außenpolitik und der Wirtschafts- und Finanzpolitik [1] während der Regierungszeit von Präsident Richard Nixon wurden nach deren überraschenden Veröffentlichungen als Nixon-Schock bekannt. Diese Entscheidungen führten zu weitreichenden Veränderungen im Verhältnis der Vereinigten Staaten zur Volksrepublik China sowie zur Republik China /Taiwan und lösten das Weltwährungssystem von Bretton Woods mit seinen festen Wechselkursen auf. Die Folgen hatten wirtschaftliche Auswirkungen auf alle Leitwährungen und führten politisch zu grundlegenden Veränderungen in den Verhältnissen der Vereinigten Staaten von Amerika zur VR China ebenso wie zwischen der VR China zu Japan . Hintergrundinformationen [ Bearbeiten ]

Nixon-Schock

The US Invaded Iraq Because It Wouldn’t Have Survived Otherwise

While the US invasion of Iraq about a decade ago was based on public-facing lies about nonexistent weapons arsenals, the underlying reasons for the invasion were much more dire. Iraq had found the US’ Achilles Heel, and would bankrupt the US if not stopped. When the United States President “Not-a-Crook” Nixon unilaterally declared that the United States would not pay back its loans on August 15, 1971, it sent shockwaves through the financial world. Normally, this would have been a declaration of bankruptcy.

Eurozone crisis: interactive timeline | Business

97% Owned - Positive Money Cut

Shadow Banking

Cameron family fortune made in tax havens | Politics

http://www.guardian.co.uk/politics/2012/apr/20/cameron-family-tax-havens

David Cameron 's father ran a network of offshore investment funds to help build the family fortune that paid for the prime minister's inheritance, the Guardian can reveal. Though entirely legal, the funds were set up in tax havens such as Panama City and Geneva, and explicitly boasted of their ability to remain outside UK tax jurisdiction. At the time of his death in late 2010, Ian Cameron left a fortune of £2.74m in his will , from which David Cameron received the sum of £300,000. Cameron and other cabinet members have recently suggested that they would be willing to disclose their personal tax filings amid growing scrutiny following the budget, but this would only shed light on annual sources of income rather than accumulated wealth or inheritance. The structure employed by Cameron senior is now commonplace among modern hedge funds , which argue that offshore status can help attract international investors.

Financial Supervision & Central Banking: Improvements backfired

tax havens - offshore

As ProPublica has been detailing for two years, Wall Street banks and the hedge fund Magnetar worked together to build mortgage-backed deals that the hedge fund also bet against [1] . The more than $40 billion of deals helped fuel the crash of 2008. Now, recently collected emails from bankers and a Magnetar executive involved in some of the deals appear to shed new light on how they did it.

Emails Give Glimpse Into Deals That Fueled Financial Meltdown

LIBOR

The Joris Luyendijk banking blog | Comment is free

http://current.com/shows/the-young-turks/videos/romneys-disdain-for-47percent-of-america-proves-hes-all-about-the-rich

New videos secretly shot at campaign fundraisers and unearthed by Mother Jones magazine reveal exactly what Mitt Romney says when the little people are out of the room. Cenk says, “He views 47 percent of the country as lazy people who don’t deserve anything. You know how much those people make on average? $30,000. Oh, wow, they’re living the high life.

Romney's disdain for #47percent of America proves 'he's all about the rich' - The Young Turks with Cenk Uygur

The Ritz has not paid corporation tax in 17 years, BBC Panorama probe reveals

http://www.mirror.co.uk/news/uk-news/the-ritz-has-not-paid-corporation-tax-1494188

The documentary claims the world-famous London hotel has taken advantage of tax reliefs to cut its bill to nothing Getty The Ritz Hotel, where suites cost up to £3,600 a night, has paid no corporation tax in the UK since is was taken over by the billionaire Barclay twins 17 years ago. The revelation comes in a BBC Panorama probe into the reclusive businessmen to be shown tonight.

Lobbyismus: Unter Steinbrück schrieben Banken selbst das Steuergesetz | Wirtschaft

http://www.zeit.de/wirtschaft/2012-12/lobbyismus-banken-steinbrueck

Für eine Gesetzesänderung haben Mitarbeiter des Finanzministeriums Schriften des Verbandes deutscher Banken übernommen. Chef des Ministeriums war damals Peer Steinbrück. Die Beamten des Bundesfinanzministeriums haben sich 2006 von Lobbyisten des Bankgewerbes die Hand führen lassen. Die damalige Begründung zur Änderung eines Steuergesetzes ist zu großen Teilen identisch mit einem Schreiben des Bundesverbandes deutscher Banken aus dem Jahr 2002. Nach Recherchen der ZEIT übernahmen die Beamten über lange Passagen wortwörtlich die Formulierungen der Verbandsexperten.

Staat verliest op steun aan banken - NOS Nieuws

VK: 2009 Met deze EMU kiest Europa verkeerde weg

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VPRO Andere Tijden - de valse start vd euro - Kop of munt

Economist Arjo Klamer: Homepage

Economist Arjo Klamer Weldra sterft de euro 2002

by Arjo Klamer De Groene Amsterdammer , vol. 126, no.2, 12 January 2002, pp. 9-10 cat: Europe; columns Hoe goedgelovig kunnen we zijn? Met 15 en straks 22 kapiteins op het schip zal het politieke Europa geen stand houden. Munten kunnen niet tegen politieke instabiliteit.

Tegenlicht: Het brein van de bankier

NRC Handelsblad - Dossier Euro

Tenminste elf Europese landen brengen op 1 januari 2002 miljoenen euromunten en bankbiljetten in omloop. Op 1 januari 1999 is de euro al ingevoerd als giraal betaalmiddel en als officiële munteenheid in de elf landen die samen de Economische en Monetaire Unie (EMU) vormen. Sinds de introductie is de koers van de euro ten opzichte van de Amerikaanse dollar met een kwart gedaald. In dit dossier nieuws en achtergronden bij de euro , de Economische en Monetaire Unie en de Europese Centrale Bank (ECB).