Secret History: And Why Barack Obama Must End It Obama Seeks Holy Grail of Housing, Proverbial Free Lunch, Gain With No Pain; It's Another Bank Bailout in Disguise President Obama is in Fantasyland or in some alternate universe. He wants to strengthen the housing market provided The plan helps a broad swath of homeownerThe plan stimulates the economyThe plan costs next to nothingSo says the New York Times in U.S. May Back Refinance Plan for Mortgages The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to nothing. One proposal would allow millions of homeowners with government-backed mortgages to refinance them at today’s lower interest rates, about 4 percent, according to two people briefed on the administration’s discussions who asked not to be identified because they were not allowed to talk about the information. Uninspiring Nonsense Frank E. Quite frankly that is idiotic as one of my readers noted in an email. Moreover, two tax credits that blew up just proved it. Got That? Bank Bailout in Disguise
Damn It or Fear It, the Forbidden Truth Is There's an Insurrection in Britain On a warm spring day, strolling in south London, I heard demanding voices behind me. A police van disgorged a posse of six or more, who waved me aside. They surrounded a young black man who, like me, was ambling along. They appropriated him; they rifled his pockets, looked in his shoes, inspected his teeth. Their thuggery affirmed, they let him go with the barked warning there would be a next time. For the young at the bottom of the pyramid of wealth and patronage and poverty that is modern Britain, mostly the black, the marginalized and resentful, the envious and hopeless, there is never surprise. Such is the truth of David Cameron's "sick society," notably its sickest, most criminal, most feral "pocket": the square mile of the City of London where, with political approval, the banks and super-rich have trashed the British economy and the lives of millions. Armstrong: "Mr. Howe: "Of course not ... what I am concerned about is a young man Mark Duggan ... the police blew his head off."
Fed's Court-Ordered Transparency Shows Americans `Have a Right to Know' A Supreme Court order that forces unprecedented disclosures from the Federal Reserve ended a two- year legal battle that helped shape the public’s perceptions of the U.S. central bank. The high court yesterday let stand a lower-court ruling compelling the Fed to reveal the names of banks that borrowed money at the so-called discount window during the credit crisis. The records were requested by Bloomberg LP, the parent company of Bloomberg News. Fed Chairman Ben S. The financial crisis, which began in August 2007 and peaked after the bankruptcy of Lehman Brothers Holdings Inc. in September 2008, focused the public’s attention on the Fed and its $3.5 trillion effort to rescue the banking system, said U.S. “People wanted to know more about what the Fed was doing,” said Paul, a Texas Republican. While Congress required the Fed in December to reveal details of assistance it provided through various emergency programs during the crisis, discount window loans were exempt. Ben S. Ben S. Close
Jackie O tapes to reveal her and JFK's affairs and who she believed was behind his death She will allegedly reveal affair with actor William HoldenBelieved Vice-President Johnson was behind husband's assassination By Liz Thomas Updated: 17:20 GMT, 8 August 2011 Former first lady Jackie Kennedy is said to have made the tapes within months of JFK's assassination Jackie Onassis believed that Lyndon B Johnson and a cabal of Texas tycoons were involved in the assassination of her husband John F Kennedy, ‘explosive’ recordings are set to reveal. The secret tapes will show that the former first lady felt that her husband’s successor was at the heart of the plot to murder him. She became convinced that the then vice president, along with businessmen in the South, had orchestrated the Dallas shooting, with gunman Lee Harvey Oswald – long claimed to have been a lone assassin – merely part of a much larger conspiracy. Texas-born Mr Johnson, who served as the state’s governor and senator, completed Mr Kennedy’s term and went on to be elected president in his own right.
Radar 3 décembre 2008 : Monétisation de la dette, ou la transgression du tabou de l’argent Entre 2000 et 2008, l’endettement global a doublé, passant de 58% a 120% du PIB mondial. Sur ces 60 000 milliards de dollars, quel est le pourcentage des créances qui, devenues douteuses ou irrécouvrables, sera détruit par le processus de liquidation ? Chacun se forgera une opinion sur l’évaluation de la quantité vraisemblable de dette et du coût du service de celle-ci que l’économie réelle peut raisonnablement supporter. De cette réponse dépendra l’ampleur de la récession - voire de la dépression - que nous allons subir. La spirale baissière de la déflation de la dette induit une réduction drastique de l’activité économique et une aversion au risque - c’est-à-dire un renchérissement et une raréfaction du crédit - provoquant une réduction de l’investissement, des revenus et de la consommation qui auto entretiennent la glissade de la dévalorisation des actifs amorcée par l’effondrement des subprimes et de l’immobilier US. Et pour cause. Un dernier point.
Fed's $1.2 Trillion In Financial Sector Loans 'A Classic Case Of Moral Hazard' During the 2008 financial crisis, when the nation's banking system seemed on the verge of collapse, President George W. Bush authorized a $700 billion bailout of the financial industry. The U.S. At the same time, and in the years that followed, the Federal Reserve was undertaking its own rescue operation, in the form of private, previously undisclosed loans to banks and other institutions -- lending as much as $1.2 trillion, nearly twice the amount of the Treasury bailout, according to a data analysis performed by Bloomberg News and published on Monday. The scope of the Fed's private lending had previously only been guessed at, but figures obtained under the Freedom of Information Act by Bloomberg News show that the nation's central banker issued loans to more than 300 institutions between August 2007 and April 2010, including over 100 loans of $1 billion or more. "It's completely valid at some point to say, 'Who did the borrowing?'"
I WANT TO COME BACK AS THE FEDERAL RESERVE. YOU CAN INTIMIDATE EVERYBODY. James Carville once said: “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.” Carville was very close to getting this right. “I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. I’ve spent a great deal of time trying to debunk the idea that bond markets will one day revolt and cause the Fed to raise rates which will appear like bond vigilante justice. To illustrate this point I ran a few correlations across the yield curve in the USA. What’s interesting in this data is that the bond market is taking its cues almost entirely from the Fed. What’s more interesting is that there appears to be no worry of solvency in this data. 1) The US government should absolutely not be allowed to default.
MAJOR BANK MORTGAGE FRAUD - Unearthed on 60 Minutes USA Who is Linda Green? Well, seeing that Linda’s signature is shown on more than 20 different bank documents as being their Vice President, you would presume that’s what Linda is, a VP of a 20 banks…. But hang on… How is it possible to be a VP of over 20 banks at the same time? Turns out, Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse. Now that banks want to evict people, they’re unwinding these exotic investments to find, that often, the legal documents behind the mortgages aren’t there. So what did the banks do? They employed sweat shop style workplaces to forge mortgage paperwork. Watch the video to find out how the banks accomplished it and meet the real life Linda Greens’ . VIDEO: CBS 60 Minutes - Aired 4th March 2011 Join Wake Up World's Ever Evolving Social Communities
Faillite bancaire : le droit européen est prêt à faire face mais les financements seront ils là ? Voici résumé le texte d’une conférence tenue à Paris en 2003. Après une très longue introduction permettant de replacer les questions de droit dans leur contexte économique et politique, l’auteur présente de manière plus ramassée les principales innovations de la directive relative à l’assainissement et à la liquidation d’un établissement de crédit (DALEC). Pour traiter le sujet qui m’a été proposé, j’aurais aimé avoir le temps de vous raconter une histoire, voire des histoires… Comme dans une bonne saga de John Le Carré, j’aurais voulu vous raconter comment la C.I.A. utilisait la B.C.C.I. pour ﬁnancer des groupes militaires en Amérique du Sud, tout en fermant les yeux sur les pratiques douteuses de blanchiment planétaire mises au point par cette banque. Mais, je ne peux décemment pas vous raconter des histoires lorsque je lis le titre de mon sujet « Les apports des nouvelles règles spéciﬁques sur les faillites des établissements de crédit ». Le premier paradoxe est d’ordre économique.
Exclusive: Goldman Sachs VP Changed His Name, Now Advances Goldman Lobbying Interests As Top Staffer To Darrell Issa By Lee Fang on August 18, 2011 at 3:21 am "Exclusive: Goldman Sachs VP Changed His Name, Now Advances Goldman Lobbying Interests As Top Staffer To Darrell Issa" Peter Haller, also known as Peter Simonyi, a former Goldman Sachs VP now working for Chairman Issa to block regulations on Goldman Sachs Has Rep. In July, Issa sent a letter to top government regulators demanding that they back off and provide more justification for new margin requirements for financial firms dealing in derivatives. Issa’s demand to regulators is exactly what banks have been wishing for. Haller, as he is now known, went by the name Peter Simonyi until three years ago. It’s not the first time Haller has worked the revolving door to help out Goldman Sachs. When he took over the chairmanship of the Oversight Committee this year, Issa dramatically shifted the committee’s focus away from its traditional role of investigating major corporate scandals. Update We have contacted the House Oversight Committee and Mr.
Audit Of The Federal Reserve Reveals $16 Trillion In Secret Bailouts Audit Of The Federal Reserve Reveals $16 Trillion In Secret Bailouts By Unelected.org 24 July, 2011Unelected.org Click on the image for a larger picture The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. Comments are not moderated.
Mujahideen-e Khalq: Former U.S. Officials Make Millions Advocating For Terrorist Organization WASHINGTON -- The ornate ballroom of the Willard Hotel buzzed with activity on a Saturday morning in July. Crowded together on the stage sat a cadre of the nation's most influential former government officials, the kind whose names often appear in boldface, who've risen above daily politics to the realm of elder statesmen. They were perched, as they so often are, below a banner with a benign conference title on it, about to offer words of pricey wisdom to an audience with an agenda. That agenda: to secure the removal of the Mujahideen-e Khalq (MEK) from the U.S. government's list of Foreign Terrorist Organizations. A Marxian Iranian exile group with cult-like qualities, Mujahideen-e Khalq was responsible for the killing of six Americans in Iran in the 1970s, along with staging a handful of bombings. Onstage next to former FBI director Louis Freeh sat Ed Rendell, the former Democratic governor of Pennsylvania and current MSNBC talking head; former Vermont Gov.
Yes, the banks are to blame Daniel Davies’s effort to become the most popular man in Britain has, apparently, not developed to his advantage, to quote the Emperor Hirohito. It struck me that there are two opposed explanations for the unusual toxicity of the comments thread that ensued, and they tell us quite a lot about the Great Bubble and the Great Recession that followed. The first would be Daniel’s explanation. Look at them! It took only six comments for someone to analogise him to a soldier whose commander pays him in whiskey and cigarettes to cut the ears off prisoners, and sixty-five for someone to compare him to one of the anonymous organisers of the Holocaust. The second would be mine. You will of course notice that the basic distinction here is that one explanation is demand-driven and one supply-driven. In itself, this isn’t controversial. How did we decide to try making fireguards out of chocolate, or self-certifying mortgages with negative-amortising interest rates, in the first place?