Mis-selling scandal will see HSBC cut executives' bonuses.
Euro Debt Chart. U.K. 50 Billion Injection. Greek Brace 4 Impact. US Debt_Ceiling. StockACT Law Maker Insider Trading Bill. Ben Bernanke Baron Green_Back Counterfieter. Financial CrimeZ Task_Force. C0UnT3rFiT_M0nEy. Insider Trading 30Day DBase RuleZ. Bail O.U.T. The Truck LoadZ Of Cash. Cash_Transaction Banning!!! Morgan Stanley Bonuses Capped @ $125,000. JPM Exposures In PIIGS. Everything You Need to Know About Wall Street, in One Brief Tale | Matt Taibbi. The PeopleZ Oppinion On The Poverty GAP. Did Henry Paulson tip off hedge fund managers on Fannie and Freddie.
Hilderbrand Wife TradeZ. Head of Swiss National Bank denies insider trading | Europe | Deutsche Welle | 09.01. Philipp Hildebrand, head of the Swiss National Bank (SNB), was questioned on Monday by a parliamentary committee over his involvement in an alleged insider trading scandal. The hearing was held behind closed doors. Swiss President Eveline Widmer-Schlumpf stood by Hildebrand last week and said he should not resign. "We would lose a [central bank] president who has undisputedly done excellent work, has a good network, and could be very useful to Switzerland," said Widmer-Schlumpf on Swiss television late Friday. Hildebrand has donated the profits to charity Press reports claim that Hildebrand's wife Kashya profited after buying $504,000 (396,000 euros) last August, just weeks before an intervention by the SNB to halt the rise of the franc.
The couple profited handsomely when the dollar's value soared against the Swiss franc. SNB-chief denies breaking rules Hildebrand held a news conference last week in which he denied any wrongdoing. The Swiss National Bank has launched an investigation.
455 Billion Record ECB Deposit Jan 2012. BankZ Still Vulnerable To Cyber Attacks. Virgin/Blackrock. Morgan Stanley Job cuts. China currency Manipulation. US Collapsing & Press TV. Brazil TakeZ Over UK Economy. Japan WarnZ England To Make A Stronger BackUp Fund!!! UK Conspiracy. Pay Role TAX Continuation. The gold standard: what is it and should we return to it? By Jeremy Holcombe Contributing writer for Goldco Direct and End the Lie The gold standard: ever heard of it? Most people haven’t, yet it remains an important part of gold history, and it may serve us well if we got back on it. So what exactly was “the gold standard?” The gold standard was essentially a commitment by several participating countries to fix the prices of their respective domestic currencies in terms of specific amount of gold.
In essence, national money, along with other money like bank deposits and notes, were freely converted into gold at a fixed price. England was the first to adopt a de facto gold standard in 1717 after the master of the mint, Sir Isaac Newton, overvalued the guinea in terms of silver, and formally adopted the gold standard in 1819. The United States was next to act, switching to gold de facto in 1834 and de jure in 1900 when Congress passed the Gold Standard Act. How Did it Work? Why Did We Stop Using It? World War I is to blame for this.
Harrisburg Bankruptcy Petition Thrown Out. The bankruptcy case filed by Harrisburg, Pennsylvania, the state capital, was thrown out by a judge who ruled the city council wasn’t authorized to file the petition. U.S. Bankruptcy Judge Mary D. France held a hearing yesterday in Harrisburg on whether the council violated state laws last month when a majority opted to file under Chapter 9 of the bankruptcy code. Mayor Linda D. Thompson opposed the filing. “For Chapter 9 bankruptcy to work, all of the branches of the municipality must be on the same page,” France said. Pennsylvania now will pursue a plan to put Harrisburg into state receivership. “We are very happy with the outcome; we were surprised that the judge ruled so quickly,” said Neal Colton, a lawyer for the state with law firm Cozen & O’Connor in Philadelphia. Brad Koplinski, part of the council majority who voted to put Harrisburg into bankruptcy, said he and other members will consider appealing France’s decision.
Act 26 The judge found Act 26 was constitutional.
85,000 In Credit Union Covered By FSCS. WTO World Trade Organization. Millionaire Surtax Drop Dropped By Obama Dems. Russian Banking. 15 BankZ On Doom_Grade Watch. IMF EURO!!! Debt Cancelation. Foiabrief. Tyler Durden ZEROHEDGE @AnonDr_X. 30 SECOND GUIDE: Operation twist. By Daily Mail ReportersUPDATED: 08:08 GMT, 20 September 2011 The Daily Mail City team explains what is the effect of operation twist on the economy as the Fed is expected to do something at its two-day meeting this week to boost growth. What’s that? It is what the financial markets are expecting from the US Federal Reserve this week to boost growth in the flagging American economy. Fed chairman Ben Bernanke is under pressure to prevent another recession. How does it work? The Fed would sell short-term Treasury holdings and buy longer term debt, probably 10-year bonds.
Twist? Will it happen? The markets hope so. Why is it called ‘twist’? Operation Twist first started in 1961 and was so named because it effectively ‘twisted’ the yield curve, which shows how much it costs to borrow in the bond markets. Web of Debt - Ellen Brown - 1 of 5. Quantitative Easing Explained. Drug money laundering by wall street ( Max Keiser ) Afghanistan war. Outlook for Investing in Egypt; Gulf Deleveraging - Video. Northwest Eyes Big Gains From Free Trade Agreements. Update Required To play the media you will need to either update your browser to a recent version or update your Flash plugin.
WASHINGTON, D.C. - Northwest lawmakers say the region’s economy stands to reap big benefits from free trade agreements with South Korea, Colombia and Panama. After years of stop-and-start debate, both chambers of Congress approved those bills Wednesday. It’s not often that Oregon Democrat Ron Wyden and Idaho Republican Jim Risch come down on the same side of a big vote in the Senate –- but when it comes to free trade… Here’s Wyden: “It seems to me, that when we have an opportunity to promote exports, we ought to take it.” And here’s Risch: “We really need to be able to export agricultural products and those free trade agreements will make that possible.”
Currently, Northwest beef bound for South Korea gets slapped with a 40-percent tariff. Wyden chairs the Senate Finance subcommittee on trade. But Wyden says “reasonable people can disagree.” On the Web: Korea - U.S. HOW YOU BECAME A SLAVE TO THE BANKERS! By Michael Rivero In the good old days, after George Washington and the boys won the war to free us from the bank of England's predatory and impoverishing practices, they set up a "revolutionary" economic system.
The government created and issued all the public currency, spending it into circulation to purchase what the government needed, then after the currency circulated through society to fuel commerce, was taxed back to the government to balance the books. Simple! Click for larger image Banks existed, of course. This system not only reserved the choice whether to use the bank to the people, but it was a stable system, because as debt increased, the people could voluntarily choose to stop borrowing from the bank!
Then, in 1913, a corrupt Congress and a corrupt President changed the structure of the nation's economy and stole your freedom to say "no"! From that moment on, the freedom of the people to refuse to borrow from the banks and to refuse to pay interest was stripped away. Republican Acknowledges GOP Pushed Ryan Plan In Super Committee Negotiations. If you're having a hard time buying that one party was more reasonable than another in the Super Committee negotiations, read Republican co-chair Jeb Hensarling's obituary for the panel in the Wall Street Journal.
Specifically, check out this part about the GOP's big ask: Democrats on the committee made it clear that the new spending called for in the president's health law was off the table. Still, committee Republicans offered to negotiate a plan on the other two health-care entitlements--Medicare and Medicaid--based upon the reforms included in the budget the House passed earlier this year....Republicans on the committee also offered to negotiate a plan based on the bipartisan "Protect Medicare Act" authored by Alice Rivlin, one of President Bill Clinton's budget directors, and Pete Domenici, a former Republican senator from New Mexico.
Rivlin-Domenici offered financial support to seniors to purchase quality, affordable health coverage in Medicare-approved plans. If There Is a Run on the Banks, Know Who To Blame. It isn’t Alex Jones or Gerald Celente Paul Joseph Watson Prison Planet.com Monday, November 21, 2011 Following our coverage last week of the fallout from the collapse of MF Global, Gerald Celente appeared on the Alex Jones Show numerous times to warn listeners that the only way to really ensure their money was protected was to withdraw it all from banks and financial institutions without delay. Celente was a high-profile victim of the theft of almost $1 billion in funds that was stolen from MF Global customers and its subsidiaries and has since gone “missing” after reports the money was initially transferred to JP Morgan. Celente himself lost a six figure sum that he was preparing to cash in to take physical delivery of gold bullion in December. Some customers have been told they may get around 60 per cent of their money back.
Although Rapoza’s article is by no means a hit piece, it fails to address the real culprits should a bank run ever unfold. A d v e r t i s e m e n t Print this page. Debit Card Charges - Monetos.co.uk. National Lawyers Guild Files FOIA Requests Seeking Evidence of Federal Role in Occupy Crackdown. With Congress no longer performing its sworn role of defending the US Constitution, the National Lawyers Guild Mass Defense Committee and the Partnership for Civil Justice today filed requests under the Freedom of Information Act (FOIA) asking the Department of Justice, the Department of Homeland Security, the FBI, the CIA and the National Parks Service to release "all their information on the planning of the coordinated law enforcement crackdown on Occupy protest encampments in multiple cities over the course of recent days and weeks.
" According to a statement by the NLG, each of the FOIA requests states, "This request specifically encompasses disclosure of any documents or information pertaining to federal coordination of, or advice or consultation regarding, the police response to the Occupy movement, protests or encampments. " The police assault on Zuccotti Park led to the Occupation Movement's biggest rally yet on Nov. 17. World business, finance, and political news from the Financial Times. Russell Simmons Calls for Constitutional Amendment to Get Money Out of Politics. Finally, a Judge Stands up to Wall Street | Matt Taibbi. Foreign aid to zero - Ben Smith. November 12, 2011 The leading Republican candidates said Saturday night that they'd begin their foreign aid budget as zero, and declined to commit to continuing the United States' massive funding for Israel -- not to mention Egypt and other countries.
"Every country would start at zero," said Perry, who introduced the crowd-pleasing proposal in response to an unrelated question, and fielded a follow-up from Twitter. "Obviously, Israel is a special ally, and my bet is that we would be funding them. " "I agree with Governor Perry. Start everything at zero," Romney chimed in, in response to a question about Pakistan. The first comments drew a jab from the typically supportive Republican Jewish Committee Coalition, which tweeted its hope that Perry's staff "will brief their man on 10-year Memorandum of Understanding that governs US- #Israel funding levels. " I also asked the leading American lobbies for Israel funding, AIPAC and Christians United for Israel, for their views on the matter.
Smash and grab: Bilderberg and the Trilateral Commission snatch Greece and Italy. By Richard CottrellEnd the Lie Events in Greece and Italy are truly momentous. They represent a glorious triumph for the New World Order, which is now free to trample democracy wherever and whenever the mandarins who now rule over us feel like it. Two governments which are not sanctified by the increasingly redundant electoral process are taking charge in Rome and Athens. In both cases the new ‘caretakers’ are smart-suited quack doctors peddling snake oil brewed in the kitchens of the Trilateral Commission and the Bilderberg Group. Berlusconi’s sudden fall in Italy is surprising, but explainable.
Some time on Thursday evening, the cornered rat Berlusconi concluded the deal. The Clown Prince of Italian politics has cut his last caper. Next stop, his long prepared bolt hole in Antigua, where the infamous bunga-bunga parties will presumably continue with renewed ferocity, nourished by truck loads of Viagra flown in to keep the old boy on stout form. Who sold Berlusconi down the river? Futures Up Ahead of Consumer Sentiment. NEW YORK (TheStreet) -- U.S. stock futures extended gains after Italy moved one step closer to adopting austerity measures needed for Prime Minister Silvio Berlusconi to resign and pave the way for a new government.
Futures for the Dow Jones Industrial Average were up 89 points, or 91 points above fair value, at 11,944. The index traded up in three of the last four trading sessions. Futures for the S&P 500 were edging 12 points higher, or 13 points above fair value, at 1249. Futures for the Nasdaq were up 20 points, or 15 points above fair value, at 2326.
The Italian senate's approval of the country's 2012 budget law Friday opens up a parliamentary vote on the bill this weekend. If passed, Berlusconi would resign, allowing a new emergency government to take over. The quicker the transition to a new government, the better the chance Italy has in curbing its rising borrowing costs. Several other developments out of Europe have added to the positive sentiment. Citigroup (C_) was up 2%. How US Banks Are Lying About Their European Exposure; Or How Bilateral Netting Ends With A Bang, Not A Whimper. A little over a month ago, Zero Hedge started an avalanche in the financial sector, and an unprecedented defense thereof by the "independent" financial media and conflicted sell side, by being simply the messenger in pointing out that the gross exposure of one Morgan Stanley to the French banking sector is $39 billion.
The firestorm of protests, which naturally focused on the messenger, and not the message, attempted to refute the claims that Morgan Stanley (and many others) are overexposed to Europe (both banks and countries) by stating that gross is not net, and that when one nets out "hedges" the real exposure is far, far lower. The logic is that bilateral netting, as the principle behind this argument is called, should always work - no matter the market, and that counterparty risk, especially when it comes to hedges, should always be ignored because banks will always honor their own derivative exposure. For those still confused here is Bloomberg with more: Sound familiar?
Goldman Sachs elevator gossip tweets – inside job or wind-up? | Joris Luyendijk. #1: "If a girl doesn't respond to my texts immediately, I lose interest. " #2: "I don't even have time to meet girls. " #1: "People that post photos of a 1st class seat or an empty bottle of Petrus on Facebook should die. " And: #1: "Getting laid off from Goldman is like being traded by the Yankees. You'll probably still make millions, but it's just not the same. " Meet the Twitter account GS Elevator Gossip. Since it went live on 11 August this year it fired off 291 tweets, enough to collect a salivating 26,418 followers. If anything it's a good laugh. It's not exactly PC, witness this one: #1: "The only reason I have a home phone is so I can find my cell phone. " #2: "Our maid does that.
" Or: Skirt #1: "It really hurts my feelings when an ugly guy hits on me. " And some could be office banter anywhere: #1: "Every disaster movie has a black guy as President to save the day. " #2: "And now when we get a real disaster, look what happens. " So could GS Elevator Gossip be authentic? #2: "Pathetic. Credit unions pounce after banks raise fees. If the list of incentives didn’t do the trick, the bank added a scowling twentysomething cutting up a debit card, below the looming question: “$#%&’n mad? You should be!” The provocative campaign seemed to strike a chord with consumers as Lafayette FCU has recorded a 50 percent increase in online applications this month, according to marketing director Christina Madaras.
Lafayette FCU, like many credit unions in the Washington area, is capitalizing on the growing anti-bank sentiment that’s sweeping the country. Officials at Bank of America declined to comment for this article. The bank may have garnered the most attention, but it is not the only institution using fee hikes to offset declines in revenue. SunTrust has also added fees on debit cards, while Citibank has phased out its free checking accounts. Still, credit unions are not without their own limitations. For now, though, credit unions sense an opportunity.
Goldman Summarizes The "Frightful Week Ahead" Bloomberg To Host Sunday Dinner To Urge Super Committee To Cut $4 Trillion, Let The 99% Eat Cake. S&P 500 Extends Biggest Monthly Rally Since 1974 on Europe Deal.
Director's Blog » Blog Archive » Trends in the Distribution of Income. Throw Back WeAreChange confronts Alan Greenspan. Adbusters Calls For Occupy Wall Street To Demand G20 Impose 'Robin Hood' Tax. HERP : Calculated Risk: A few comments on the HARP Refinance Program changes. Recovery before Reform - Robert Skidelsky. How Much Do You Think I Deserve To Keep? | Personal Liberty Digest. My Blog. HSBC. Barclays Says Italy Is Finished: "Mathematically Beyond Point Of No Return" EU and IMF 'to monitor Italian reforms' - Europe. Wealth, Income, and Power. Market Report - Nov. 4, 2011. Giac. Bank Of America Layoffs: Rival Banks Say They're Being Flooded With BofA Resumes.