If you enter – be prepared to tweet your question.
“there is no such thing as a soft landing in a cornered marketplace…
Despite claiming $52 TRILLION “notional” value in derivatives (nearly all the money in the world) DB has posted a shattering loss and according to the IMF poses the most serious systemic loss to the financial system. Reports indicate that 29 DB employees were at the root of manipulating the LIBOR index which is used as the primary index for variable rate loans. Nobody has addressed the issue of whether adjusted payments should be scrutinized even while knowing that the index was rigged.”
Nothing equals nothing. The fact is that Deutsche Bank allowed itself to be window dressing on bogus REMIC Trusts as though the DB trust department was managing the money for investors. Other than ink on paper, the trusts did not exist and neither did any assets of the purported trusts. DB led the way as a principal party in creating the illusion of “something” when in fact there was nothing at all. READ MORE HERE
I’m testifying before House Financial Services tomorrow regarding the “CHOICE Act,” the Republican Dodd-Frank alternative. My testimony is here. It’s lengthy, but it doesn’t even cover everything in the CHOICE Act–there are just too many bad provisions, starting with the idea of letting megabanks out of Dodd-Frank’s heightened prudential standards in exchange for more capital, then moving on to a total gutting of consumer financial protection, and ending with a very poorly conceived good bank/bad bank resolution system executed through a new bankruptcy subchapter. The only good thing about the Bad CHOICE Act is that it has little chance of becoming law any time soon.
Excerpt: “The CHOICE Act also has numerous provisions that make it difficult for the SEC to pursue enforcement actions and achieve meaningful relief. These provisions reduce the SEC’s deterrence ability and thereby embolden financial fraudsters whose malfeasance can reverberate throughout the financial system. Among other provisions, the CHOICE Act:
We are so proud of of our Hawaii Congressional Representative Tulsi Gabbard. This commercial reaches the depth of our souls.
Bernie Sanders is the only candidate addressing Wall Street issues head on.
Thank you Tulsi Gabbard. This commercial gave us “chicken skin” – (she’ll understand).
VOTE tomorrow Hawaii. 1 pm. Be there! Okay, yeah?
The criminal global banking cartel has effected a coup d’etat in the U.S. This is why the same criminal financial elite that saw 1000 of its members go to prison 20 years ago (after the S&L crisis) is now above the law. Part 1 of 4.
To date, the question of why the U.S. Department of Justice has failed to prosecute even one too-big-to-fail bank for the pervasive criminal frauds that drove the multi-trillion-dollar economic meltdown of 2008 has been answered pretty much with shrugs.
Please share – Knowledge is Power!
COMING This May, MONEY MONSTER
Follow the Money with George Clooney & Julia Roberts.
An Excellent Re-post from Nation of Change.
I am a mild-mannered (a polite term for “boring”) white Christian man, born and raised in North Dakota, a U.S. state known for being mild-mannered. I teach university courses on freedom of expression and the role of journalism in a democratic society, concepts I take seriously. I also take seriously my obligation as a citizen to participate in conversations about public policy, but I avoid shouting. And I don’t own any weapons.
But beware—I am an extremist.
I am not extreme in the way that U.S. politicians and pundits typically throw the term around these days. I don’t advocate violence to establish a theocracy (whether Christian, Continue reading
Harvard Professor Lawrence Lessig makes the case that our democracy has become corrupt with money, leading to inequality that means only 0.02% of the United States population actually determines who’s in power. Lessig says that this fundamental breakdown of the democratic system must be fixed before we will ever be able to address major challenges like climate change, social security, and student debt. This is not the most important problem, it’s just the first problem.
A step closer to getting big money out of politics
November 3, 2015
By ARIANNA FEINBERG (firstname.lastname@example.org)
Thank you, Maui County Council, under the leadership of Policy and Intergovernmental Affairs Committee Chairman Mike Victorino, for passing Resolution 15-124 “Requesting Maui County’s Congressional Delegation to Support an Amendment to the
United States Constitution to Permit Congress and the States to Regulate the Influence of Corporate Power on the Political System.”
This resolution shows our County Council’s support of overturning the Citizens United vs. Federal Election Commission Supreme Court decision, which made it legal for corporations and other special interests to spend unlimited amounts of money to influence elections, as long as they are “uncoordinated” with candidates. Continue reading
Send the judges, state courts, appellate & Supreme Court Justices tickets to the movie!
Our first book read cover to cover and it exposes everything… not fiction! This is the real thing. If the movie is anything like the book – suggest your entire neighborhood see this flick so they’ll begin to understand just why the economy has not recovered. Continue reading