“Real Cause Is Regulatory Capture/Corruption”

Posted by Larry Doyle of Sense on Cents

CORRUPTION SOSLetter to Editorial Board of The New York Times: “Real Cause Is Regulatory Capture/Corruption” 

EXCERPT:  “Lying, fraud, self-dealing, blatant misrepresentations and more as laid out in this lawsuit against Barclays are symptoms of a Wall Street that remains out of control. What is the cause that needs to be addressed, exposed, and rectified? A financial regulatory system that covers the spectrum of being ill-equipped, incompetent, captured, and corrupted.” Continue reading

Advertisements

Libor Lies Revealed in Rigging of $300 Trillion Benchmark

the Lie in LIBORNo – we’re not making this up.

According to Bloomberg By Liam Vaughan & Gavin Finch – Jan 28, 2013: “The benchmark rate for more than $300 trillion of contracts was based on honesty. New evidence in banking’s biggest scandal shows traders took it as a license to cheat.” Graphic: Bloomberg Markets Continue reading

New York Fed Chief Levels Explosive Charge Against Big Banks

morally bankruptAmerica – we have a crisis. A moral decay that stems from decades of deceit and the acceptance of lies, fraud, and morally bankrupt behavior. We’ve allowed politicians, bankers, attorneys and judges to disregard ethical values and operate under a morally bankrupt code of conduct. It is time to demand that the culture change and it has to start at the top.

Our children have no respect for authority and frankly, how can they when Presidents, politicians and bankers lie – all in the name of money. We’ve set the bar so low that by the time the next generation arrives they won’t be able to recognize the truth. Huffington Post’s  reports the NY Fed Chief’s opinion is that the problems need to be address. Finally maybe, yeah?     Continue reading

Eliot Spitzer: ‘Every person whose interest rate depended on Libor is a victim’

Eliot Spitzer:  “The Libor scandal is perhaps the biggest market-rigging conspiracy in Wall Street history. Almost all interest rates are affected by Libor, so every person with outstanding bank-issued debt could be a victim of this Wall Street cartel.”

CLICK HERE FOR VIDEO Continue reading

Rounding Up The Banksters – The LIBOR Rate Scammed Homeowners Too!

Quoting from a Bix Weir email “Alert” – THERE WAS A GRAND CONSPIRACY AMONGST THE LARGEST BANKS IN THE WORLD!  

Larry Doyle’s Sense on Cents has been following the LIBOR scandal in great detail Barclays Libor Scandal: Wake Up, America!!  It’s not just Barclays anymore.

And how does this LIBOR scam affect the American homeowners and foreclosures? Prominent Hawaii foreclosure defense attorney Gary Dubin said this, “raises questions about whether Libor Rates charged to many borrowers were all contrived.”   Continue reading

STOP Justice Department officials – Sign Resolution Against Wall Street Immunity

Top Justice Department officials are pushing hard to bring the Wall Street immunity deal back from the dead. Can you sign on as a citizen signer of Baldwin’s resolution against Wall Street immunity? Click here to sign.

Fortunately, Rep. Tammy Baldwin (D-Wisconsin) leaped into action with a congressional resolution opposing Wall Street immunity.

Within days, 27 of her colleagues signed on — and the more co-sponsors we get, the more pressure the Justice Department will feel to back off.

Continue reading

Hats Off to Bernie and the Gang: First Federal Reserve Audit Reveals Trillions in Secret Bailouts

By Matthew Cardinale, Inter Press Service
29 August 11

he first-ever audit of the US Federal Reserve has revealed $16 trillion dollars in secret bank bailouts and has raised more questions about the quasi-private agency’s opaque operations.  “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else,” US Senator Bernie Sanders, an Independent from Vermont, said in a statement.

Continue reading