Hank Paulson Trusts Neither Wall Street Nor Washington

Sense on Cents logo

By Larry Doyle on February 6, 2014

Do you ever wonder if those who ‘find religion’ late in life so to speak are trying to conveniently cleanse their souls before making their way to the pearly gates?

I think in the case of public officials, it is fair to ask if the ‘cleansing process’ is done for purposes of resurrecting an image or if the individual is truly engaging in a meaningful transformation. Continue reading


AIG CEO Robert Benmosche Compares Bonus Criticism to Lynch Mobs

You will love this Matt Taibbi article posted on RSN and Rolling Stone. He’s G-r-r-reat!

Matt-TaibbiAIG has a lengthy history of producing some of the biggest tools on Wall Street. Former CEO Maurice “Hank” Greenberg was considered one of the world’s preeminent unapologetic narcissists even before he sued the government for providing an insufficiently generous bailout.

Joe Cassano, former chief of AIG’s financial products division, was another. First, he arrogantly blew off the accountants who warned him his portfolio of hundreds of billions in uncollateralized bets might destroy the world. Then, after it all went Continue reading

The Armageddon Looting Machine: The Looming Mass Destruction from Derivatives

TruthDig posted the latest Ellen Brown, Web of Debt examination of the financial market.

highrisk-435x235The Armageddon Looting Machine: The Looming Mass Destruction from Derivatives

Five years after the financial collapse precipitated by the Lehman Brothers bankruptcy on September 15, 2008, the risk of another full-blown financial panic is still looming large, despite the Dodd Frank legislation designed to contain it. As noted in a recent Reuters article, the risk has just moved into the shadows: Continue reading

Credit Default Swaps: The Insane Problem and the Radical but Sane Solution

With nearly 4 solid years of foreclosure injustice spewing from the courts and millions of homeowners continuously getting skunked, it has become a necessity to figure some way to explain to even the brightest (judge) on the bench the answer to, “[D]id you pay?” 

It doesn’t matter what state (although some are a lot worse than others) or what faction of the judiciary, state, federal, bankruptcy, appellate – the question they always ask, “[D]id you pay?”  We’ve all heard the standard answers:

  • “I don’t know who to pay…”
  • “I owe someone, but it’s not these guys…”
  • “I lost my job, but I can pay now and they won’t take my money…”
  • “All I need is a little reduction in my monthly payment…”

The list goes on – but the real answer if there is a trust involved might be, “Well, your honor, I don’t think I’m in default.” And of course the judge is going to say, “why is that – did you pay?” And the likely response might be, “your honor, there’s these things called Credit Default Swaps and my note is Continue reading

Part III – The Elites will Eat Their Own: Full-Blown Civil War Erupts On Wall Street

Part II:  Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other

By David DeGraw

Continuing from Part II on DEADLY CLEAR:

And here’s part of the Collapse Roundup I wrote on August 25th, referenced in the beginning of this report – as you will see, I would probably make a lot more money as an investment adviser:

Collapse Roundup #5: Goliath On The Ropes, Big Banks Getting Hit Hard, It’s A “Bloodbath” As Wall Street’s Crimes Blow Up In Their Face

Collapse Roundup #5: Goliath On The Ropes, Big Banks Getting Hit Hard, Banking Cartel's Crimes Blowing Up In Their FaceTime to put your Big Bank shorts on! Get ready for a run

The chickens are coming home to roost. Reality is catching up with the market riggers (Fed, ECB, PPT, CIA) and the “too big to fail” banks are getting whacked. Trillions of dollars in bailouts and legalized (FASB) accounting fraud cannot save these insolvent zombie banks any longer. The Grim Reaper is on the horizon and his sickle will do what paid off Continue reading

RSN: Austerity: The Wrong Prescription

 “…the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”  Take over the mortgages – stupid! SEIZE MERS.

Austerity: The Wrong Prescription

Denise Brunal-Hicks, left, hugs her daughter Samantha, 18, as they stand next to a curb piled with their belongings. Brunal-Hicks was being evicted from her foreclosed home after spending thirteen years at the residence. (photo: Greg Kahn/Naples News)

By Carl Gibson, Reader Supported News
09 August 11

Reader Supported News | Perspective

f you were a patient in intensive care, sick and in pain, what would you say to a doctor whose only recommendation was cutting off your blood supply, meals and therapy, and redirecting your pain medicine to another patient who was already healthy and well? Would you follow your doctor’s orders, or sue them for malpractice? Continue reading