The left is focused on rioting at the GOP convention instead of the DNC dull convention this year. There, Hillary will be crowned queen. Time to read about her family’s scam to get rich, quick: Bill Clinton demanded chartered plane for just 70-mile trip to give speech | Daily Mail Online in England covers this story and I go to Britain to read about here because our press here has pretty much vanished when it comes to reporting real news. Periodically, real news does bleed onto US pages but it has alongside tons of propaganda to guide us into what ‘solutions’ we are to apply to deteriorating conditions here in the US. The ‘speeches’ Clinton gave in California were actually colleges and universities paying bribe money to the Firm to keep funds flowing and it worked like magic: schools now overflow with students learning little but paying much.
A fired New York Fed regulator recorded hours of meetings which allegedly show how government supervisors were afraid to ask tough questions of the biggest banks on Wall St.
Carmen Segarra, 41, was brought in by New York’s banking watchdog in the wake of the financial crisis to tighten the government’s grip on the major banks, and assigned to Goldman Sachs.
And after encountering a culture of ‘fear’ and ‘deference’ to the finance giants at Goldman, Segarra explosively started recording meetings in which regulators offer softball questions to bankers, then congratulate themselves for standing up to them.
Here is a typical example of how the huge Derivatives Beast is ignored by economists pretending to understand what is going on in the world. I have explained for years how the derivatives game suddenly appeared during the years banks were deregulated and offshored. This game meant NO CAPITAL was needed for lending and bankers lent money they didn’t have to all and sundry with wild abandon. Then, when debt deals went bankrupt, there was no capital base to cover losses and the entire system suddenly collapsed in 2008.
Fake Tweet Erasing $136 Billion Shows Markets Need Humans: No kidding! The computers used by the big banks like Goldman Sachs and JPMorgan all are now hooked into the AP feed where these programs are set to ‘see’ bad news and instantly sell stocks with no human intervention. These computer programs have repeatedly crashed the stock market with zero warning and are a huge hazard to the fair markets for the average investor. Continue reading →