Banking/economics

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Could These 3 Simple Changes to Banking Fix the Economy?
'The Corrupt Banking System' by Victoria Grant - YouTube This video is currently unavailable. Sorry, this video is not available on this device. by $author Share this playlist Cancel Play 'The Corrupt Banking System' by Victoria Grant - YouTube
Chicago Fed Study Blasts the Lid Off of High Frequency Trading We hear all sorts of reasons why the little guy won't buy stocks these days but the below graph, courtesy of a Chicago Fed study, might explain a lot of it. The above chart shows an astounding percentage of market trades going through no human involved trading systems known as high frequency trading. The Chicago Federal Reserve paper, How to Keep Markets Safe in the Era of High-Speed Trading, prattled off a laundry list of the most recent high frequency trading debacles including Knight Capital as well as others. Yet in spite of these increasingly frequent stock market disasters, even basic risk controls are not implemented. Chicago Fed Study Blasts the Lid Off of High Frequency Trading
Ron Paul: Iceland Dismantles Corrupt Gov't Then Arrests All Rothschild Bankers...
Peter Schiff: We aren't that far behind Greece
Corporations are primarily intellectual property rentiers | MattBruenig | Politics Corporations are primarily intellectual property rentiers | MattBruenig | Politics Gavin Mueller has a great article in the summer issue of Jacobin Magazine about piracy, and at one point drops this jaw-dropping statistic: “Intellectual property makes up 80 percent of the net worth of US corporations and 60 percent of their exports.” I ran the statistic down and found that it apparently originated from an FTC report called The Evolving IP Marketplace. This is an incredible statistic for a number of reasons, but the biggest one is that it strikes at the core of American economic mythology. We like to think of the US economy as one driven by private enterprise that is independent of government help. Leftists often point out that the independence from government is an illusion: government investment plays a significant role in the economy and, more fundamentally, property ownership and contract enforcement are government creations.
A lot of corporations, CEO, and wealthy people generally will give donations to both candidates, both parties, etc. If you give enough it'll be easier to get your opinions heard, and the return on investment for political donations (and lobbying) is pretty good. It's worth it to give some to both sides, so that whoever wins the election, you've got an in. @TheRealTres, he obviously didn't lie, and if you just check the source (or any source) that's should be obvious. I'm sure Goldman, or some of it's officers, or employees gave lots of money to the Obama campaign, that doesn't make them one it's "top 5". There's only so many spots in the top 5, and for the Obama campaign, they appear to be full already. Obama's top 5 contributors are the University of California, Microsoft, Google, DLA Piper and Harvard University. Romney's top 5 contributors are Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America and Credit Suisse. : politics Obama's top 5 contributors are the University of California, Microsoft, Google, DLA Piper and Harvard University. Romney's top 5 contributors are Goldman Sachs, JP Morgan, Morgan Stanley, Bank of America and Credit Suisse. : politics
Banks in Libor Inquiry Are Said to Be Trying to Spread Blame Banks in Libor Inquiry Are Said to Be Trying to Spread Blame Paul Thomas/Bloomberg NewsRobert E. Diamond Jr., the former chief of Barclays. Major banks, which often band together when facing government scrutiny, are now turning on one another as an international investigation into the manipulation of interest rates gains momentum. With billions of dollars and their reputations on the line, financial institutions have been spreading the blame in recent meetings with authorities, according to government and bank officials with knowledge of the matter.
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From an Unlikely Source, a Serious Challenge to Wall Street | Matt Taibbi | Rolling Stone
It's over for the banking cabal. 4.jul.2012
"A Global Perfect Storm" by Nouriel Roubini Exit from comment view mode. Click to hide this space NEW YORK – Dark, lowering financial and economic clouds are, it seems, rolling in from every direction: the eurozone, the United States, China, and elsewhere. "A Global Perfect Storm" by Nouriel Roubini
Young Wall Street Traitor Joins Occupy Wall Street Wall Street “Quant” Alexis Goldstein joins the opposition Wall Street recruits young, just out of college computer science majors and mathematicians to become “quants” whose skills are used among other things to predict when pension funds are going to make huge trades so that Wall Street can jump in ahead of them and do deals effectively raising the price the pension fund must pay or lowering the profit they might make. One such young twenty something quant was Alexis Goldstein. Young Wall Street Traitor Joins Occupy Wall Street
Iceland proves that bailing out the middle class works better than bailing out banks - The Young Turks with Cenk Uygur To Our Faithful Current.com Users: Current's run has ended after eight exciting years on air and online. The Current TV staff has appreciated your interest, support, participation and unflagging loyalty over the years. Iceland proves that bailing out the middle class works better than bailing out banks - The Young Turks with Cenk Uygur
Out of the Mouths of Babes: Twelve-Year-Old Money Reformer Tops a Million Views The youtube video of 12 year old Victoria Grant speaking at the Public Banking in America conference last month has gone viral, topping a million views on various websites. Monetary reform—the contention that governments, not banks, should create and lend a nation’s money—has rarely even made the news, so this is a first. Either the times they are a-changin’, or Victoria managed to frame the message in a way that was so simple and clear that even a child could understand it. Basically, her message was that banks create money “out of thin air” and lend it to people and governments at interest. If governments borrowed from their own banks, they could keep the interest and save a lot of money for the taxpayers. She said her own country of Canada actually did this, from 1939 to 1974. Out of the Mouths of Babes: Twelve-Year-Old Money Reformer Tops a Million Views
How the "Job Creators" REALLY Spend Their Money In his "Gospel of Wealth," Andrew Carnegie argued that average Americans should welcome the concentration of wealth in the hands of a few, because the "superior wisdom, experience, and ability" of the rich would ensure benefits for all of us. More recently, Edward Conard, the author of "Unintended Consequences: Why Everything You've Been Told About the Economy Is Wrong, said: "As a society, we're not offering our talented few large enough rewards. We're underpaying our 'risk takers.'" How the "Job Creators" REALLY Spend Their Money
“The boom, not the slump, is the right time for austerity.” So declared John Maynard Keynes 75 years ago, and he was right. Even if you have a long-run deficit problem — and who doesn’t? The Austerity Agenda
84% of All Stock Trades Are By High-Frequency Computers … Only 16% Are Done By Human Traders Given The Dominance of The Machines, Do Flesh-and-Blood Traders Have a Chance? As of 2010, 50-70% of all stock trades were done by high frequency trading computer algorithms. And many other asset classes are dominated by high frequency trading as well. High-frequency trading distorts the markets. And see this, this and this.
Lifting the Veil - A New World Society
Don't Tax the Rich, Smash Their Privilege: A Response to Warren Buffett Recently the progressive blogosphere was abuzz with approving links to billionaire investor Warren Buffett's latest New York Times op-ed, "Stop Coddling the Super Rich." In this piece, Buffett concisely exposes the various loopholes that allow the wealthiest Americans to pay far fewer taxes than their middle class, working class, and poor counterparts. While the tax code in all its complexity certainly privileges the wealthy at the expense of most Americans, this barely scratches the surface of the ways the state oppresses poor and working people to line the pockets of the opulent. Buffett's article never mentions direct corporate welfare or the numerous privileges that the wealthy hold thanks to intellectual property, the land monopoly, regulatory barriers to entry, suppression of labor movements, and imperialism, to name a few.
The wealthiest Americans believe they've earned their money through hard work and innovation, and that they're the most productive members of society. For the most part they're wrong. As the facts below will show, they're not nearly as productive as middle-class workers. Yet they've taken almost all the new income over the past 30 years. (Image: Flickr by IronRodArt) Any one of these five reasons should reinforce the belief that the rich should be paying a LOT more in taxes. Five Reasons Why The Very Rich Have NOT Earned Their Money
Buttonwood: Marginal improvement
Exit from comment view mode. Click to hide this space WASHINGTON, DC – Europe’s policy elite – the people who call the shots at the national and eurozone level – are in serious trouble. "Captured Europe" by Simon Johnson
Market exchange rules responsible for wealth concentration, physicists say
Americans Will Need “Black Markets” To Survive
I fear for a social explosion: Greeks can't take any more punishment | World news | The Observer
Why economic inequality leads to collapse | Business | The Observer
Overheard on the Goldman Sachs Elevator
The Big Lie: Wall Street has Destroyed the Wonder That Was America
[1112.3095] Evidence of market manipulation in the financial crisis
Who Really Controls the World?
The Size of the Bank Bailout: $29 Trillion - US Business News Blog
Use RICO Act to Prosecute Banks and Corrupt Politicians.
G.O.P. Monetary Madness
I Said No to My Student Loan: One Borrower's Decision to Stop Paying
Dwolla
Capitalism Without Failure: 60 Minutes Exposes Specific Instances of Actionable High-Level Fraud at Citibank and Countrywide - It is being Actively Ignored
"26 TRILLION Dollars In Bank Bailouts! That's Not Including TARP!" Alan Grayson
Michael Hudson: Debt and Democracy – Has the Link Been Broken?
A Banker Speaks, With Regret
What to do when you’ve got money in the bank and you’re worried about a dollar collapse: The Past and Future of Money | Thinkahol's Blog
Money
Cayman directors: 'next big scandal' for hedge funds - FT
LEAKED MEMO: Wall Street Has A Much Bigger Worry Than Obama
Charts for the “Facts of the Economic Crisis” Column
How "Move Your Money" Could Hurt Wall Street By As Much As $8 TRILLION
Bernard Lietaer: Money diversity
Why isn't the economy more like hydraulics?
The Euro Is Doomed: How the Collapse of Italy and Greece Will Destroy the Currency
Web of Debt - TURNING THE TABLES ON WALL STREET: NORTH DAKOTA SHOWS CASH-STARVED STATES HOW THEY CAN CREATE THEIR OWN CREDIT
Now Is the Time for an Economic Bill of Rights | Truthout
Ten Million Families Sliding Toward Foreclosure
Finally, a Judge Stands up to Wall Street | Matt Taibbi | Rolling Stone