Video: To Catch a Trader | Watch FRONTLINE Online | PBS Video: a good Frontline expo of insider trading by Wall Street hedge funds. Of course, it has limitations. For example, there is zero mention of offshore banking entities like the ones used by Romney. There is no examination of lobbying Washington to get laws weakened or removed. Or why hedge funds suddenly shot up like a rocket when the Wall Street laws were changed in 1998.
A cartoon I drew in 2007 when the banking system began its spectacular collapse: SEC Goes After Sentinel Hedge Fund For Fraud!
Hedge funds flourished once bank regulations and free trade allowed financiers to operate openly offshore while avoiding taxes. With the keys to the Federal Reserve vault firmly in hand, they gambled with everyone’s lives, they are the sharks swimming in the world’s free trade oceans, savaging entire countries while becoming very, very rich off of this destructive behavior.
Her fant Dagens Næringsliv 47 milliarder – DN.no: The above photo is from a Norwegian newspaper showing the office in Cyprus which processes and files paperwork from hedge funds and offshore wealth. Namely, it is totally unprocessed and completely unregulated by anyone. All the weeping and wailing stories about uninsured Cyprus banks giving back less than 60% of the money parked there has to stop. The country deliberately refused to honestly deal with anything. The government there colluded with the banks to not properly supervise business. And the recent Cyprus event where it joined the EU was done under false pretenses. This was due to the lax to non regulation of the banks there. Continue reading
This headline is quite amusing. The US is basically admitting that the drive towards war has been fueled by the US and hidden behind the US, Japan. Both South Korea and China are not spooked by North Korea. I noted earlier that headlines have focused on nearly anything else but North Korea in China and Japan, for example. The US fear-mongering has also fallen flat in the US as has the warmongering against Syria. Americans are angry about the government spending cuts and in no mood to go to war across the planet for no good reason. Continue reading
$155 million Picasso painting which is very simple and rather stupid. But famous!
Nearly all of the top US media outlets are owned by rich billionaires. So we get Billionaire News like Bloomberg News or the NYT or WP or all the Murdoch outlets plus all the major TV stations. They quietly kill any news that might harm their super-rich status. The latest news to be blacked out here in the US is the story broken by a Washington, DC group of investigators. They pried into the private stashes of the super rich that are parked in ‘banks’ on islands owned by the Queen of England. Continue reading
The US is in trouble due to wild military spending on crazy global adventures while non-socialized medical care causing our medical system to cost more per capita than any of the other first world nations. All of this is on top of the world’s greatest trade deficits which have caused trillions in lost US sovereign wealth. We now have budget cutting that is unfair and destructive while at the same time, the rich can weasel out of many taxes while at the same time reaping bigger and bigger rewards for being the top dogs. So the rich get richer and the poor are tossed out. Continue reading
More firms selling prime real estate to get cash in Tokyo as the electronic giants of Japan and others go bankrupt due to competition from South Korea and China destroy the once-mighty Japanese power houses like Sony and Sharp. The Bank of Japan printing press has gone into high gear to flood the market with yen and thus weaken it so Japan can export more to the US and Europe and this, in turn, is causing…more real estate bubbles. Even as corporations collapse due to the rising South Korea/China boycott of Japanese goods, a desperate Japan Prime Minister Abe says Tokyo 2020 will be ‘inspiring’ due to this ruinous, huge government spending spree. Continue reading