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2/9/2012 The Top Twelve Reasons Why You Should Hate the Mortgage Settlement
As readers may know by now, 49 of 50 states have agreed to join the so-called mortgage settlement, with Oklahoma the lone refusenik. Although the fine points are still being hammered out, various news outlets (New York Times, Financial Times, Wall Street Journal) have details, with Dave Dayen’s overview at Firedoglake the best thus far. The Wall Street Journal is also reporting that the SEC is about to launch some securities litigation against major banks. Since the statue of limitations has already run out on securities filings more than five years old, this means they’ll clip the banks for some of the very last (and dreckiest) deals they shoved out the door before the subprime market gave up the ghost. The various news services are touting this pact at the biggest multi-state settlement since the tobacco deal in 1998. While narrowly accurate, this deal is bush league by comparison even though the underlying abuses in both cases have had devastating consequences. The tobacco agreement was pegged as being worth nearly $250 billion over the first 25 years. Adjust that for inflation, and the disparity is even bigger. That shows you the difference in outcomes between a case where the prosecutors have solid evidence backing their charges, versus one where everyone know a lot of bad stuff happened, but no one has come close to marshaling the evidence. (Naked Capitalism)
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posted: 2/13/12                   0       7
#1 



2/8/2012 49-State Foreclosure Fraud Settlement Will Be Finalized Thursday
Forty-nine states, every one but Oklahoma, as well as federal regulators will participate in a foreclosure fraud settlement that will release the five biggest banks (Wells Fargo, Citi, Ally/GMAC, JPMorgan Chase and Bank of America) and their mortgage servicing units from liability for robo-signing and other forms of servicer abuse, in exchange for $25 billion in funding for legal aid, refinancing, short sales, restitution for wrongful foreclosures and principal reduction for underwater borrowers. The announcement will be made on Thursday. This settlement arises from multiple abuses found in the servicing of loans and the foreclosure process over the past several years. At the height of the housing bubble, banks sliced and diced mortgages and traded them with little regard for the rules following land recording or securitization to such a sloppy extent that they lost track of the true owner on potentially millions of homes. To cover up for this massive failure, banks and their servicing units have been found to have routinely forged, back-dated and fabricated documents at county recorder offices and state courts across the country. Furthermore, they employed “robo-signers,” who signed hundreds of thousands (if not millions) of documents and affidavits without any knowledge of the underlying mortgages. In addition, investigations uncovered massive servicing abuses, including illegal fees charged to borrowers, putting borrowers into foreclosure at the same time as they were working out loan modifications, failing to honor previous settlements where promises were made on modifications, and countless other errors that maximized servicer profits and gouged homeowners. There are also cases of wrongful foreclosures where homeowners have been turned out of their homes without just cause, and servicer-driven foreclosures, where servicers illegally added late fees and applied payments inaccurately, pushing the homeowner into foreclosure. This is but a smattering of the examples of foreclosure fraud and servicer abuse found in a series of interlocking investigations, court depositions, reviews of documents in registers of deeds offices, and homeowner testimonials. (Fire Dog Lake)
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posted: 2/13/12                   0       7
#2 
keywords: Ally Financial, Arizona, Bank Of America, Beau Biden, California, Catherine Cortez Masto, Chris Koster, Citigroup, Countrywide, David Dayen, Delaware, Docx, Eric Schneiderman, Financial Crisis, Financial Fraud Task Force, Foreclosure, Gus Altuzarra, Iowa, JP Morgan Chase, Joseph Smith, Kamala Harris, Lps, Martha Coakley, Massachusetts, Mers, Missouri, Nevada, New York, North Carolina, Oklahoma, Residential Mortgage-backed Securities, Scott Pruitt, Shaun Donovan, The New York Times, Tom Miller, US Department Of Housing And Urban Development, US Department Of Justice, United States, Vertical Capital Markets Group, Wells Fargo Add New Keyword To Link



11/27/2011 Secret Fed Loans Gave Banks $13 Billion
Banks worldwide earned an estimated $13 billion by taking advantage of below-market rates on emergency U.S. Federal Reserve loans from August 2007 through April 2010. Roll over the bars below to explore details for each. To compare results with banks' net income or losses for the same timeframes, click the corresponding button. Worldwide total is the sum for 190 firms with available data; those banks lost a combined $21.6 billion. The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue. (Bloomberg)
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posted: 11/29/11                   0       6
#3 
keywords: American Bankers Association, Ancel Martinez, Andrea Priest, Anil Kashyap, Anthony Coley, Bailouts, Bank Of America, Barack Obama, Barney Frank, Basel, Bear Stearns, Ben Bernanke, Berkeley, Bloomberg Lp, Brad Miller, Byron Dorgan, California, Center For Economic And Policy Research, Center For Responsive Politics, Charlotte, Citigroup, Clearing House Association, Countrywide Financial, Dallas, David Jones, Dean Baker, Dodd-frank Wall Street Reform Act, Dow Jones, Federal Reserve, Financial Crisis, Financial Crisis Inquiry Commission, Financial Services Forum, Financial Stability Oversight Council, Gary Stern, George Mason University, George W Bush, Gerald Hanweck, Glass-steagall Act, Goldman Sachs, Government Transparency, Graham Fisher & CO, Henry Paulson, Howard Opinsky, Jamie Dimon, Jerry Dubrowski, John Dearie, Jon Diat, Joshua Rosner, Jpmorgan Chase, Judd Gregg, Kenneth Lewis, Lehman Brothers, Mark Lake, Merrill Lynch, Minneapolis, Morgan Stanley, Neil Barofsky, New York, New York City, New York University, Nobel Prize, North Carolina, Occupy Boston, Occupy California, Occupy Oakland, Occupy Seattle, Occupy Wall Street, Oliver Williamson, Phillip Swagel, Police, Realtytrac, Richard Fisher, Richard Shelby, Scott Alvarez, Sherrill Shaffer, Sherrod Brown, Switzerland, Tea Party, Ted Kaufman, Timothy Geithner, US Bureau Of Labor Statistics, US Congress, US Department Of The Treasury, US Freedom Of Information Act, US Supreme Court, United States, University Of California, University Of Chicago, University Of Maryland, University Of Wyoming, Vikram Pandit, Viral Acharya, Wachovia, Wall Street, Washington DC, Washington Mutual, Wells Fargo, William English Add New Keyword To Link



10/24/2011 Revealed: the capitalist network that runs the world
AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy. The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable. The idea that a few bankers control a large chunk of the global economy might not seem like news to New York's Occupy Wall Street movement and protesters elsewhere (see photo). But the study, by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power. It combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world's transnational corporations (TNCs). (New Scientist)
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posted: 10/28/11                   0       5
#4 
keywords: Affiliated Managers Group, Allianz Se, Aviva, Axa, Bank Of America, Bank Of New York Mellon, Barclays, Bnp Paribas, Brandes Investment Partners, California, Capital Group Companies, Capital Group International, China Petrochemical Group Company, Cnce, Credit Suisse, Deposit Insurance Corporation Of Japan, Deutsche Bank, Dodge & Cox, Fmr Corporation, Franklin Resources Inc, George Sugihara, Goldman Sachs, Ing Groep NV, Invesco, James Glattfelder, John Driffill, Jpmorgan Chase, LA Jolla, Legal & General Group, Legg Mason, Lehman Brothers, Lloyds Tsb Group, Massachusetts Mutual Life Insurance, Merrill Lynch, Mitsubishi Ufj Financial Group, Morgan Stanley, Natixis, New England Complex Systems Institute, New Scientist, Nomura Holdings, Northern Trust Corporation, Occupy Wall Street, Old Mutual Public Limited Company, Plos One, Resona Holdings, Schroders, Scripps Institution Of Oceanography, Société Générale, Standard Life, State Street Corporation, Sun Life Financial, Swiss Federal Institute Of Technology, Switzerland, T Rowe Price Group, The Depository Trust Company, Tiaa, Ubs, Unicredito Italiano Spa, United States, University Of London, Vanguard Group, Vereniging Aegon, Walton Enterprises, Wellington Management CO, Yaneer Bar-yam, Zurich Add New Keyword To Link



10/17/2011 Why Occupy Wall Street Is Bigger Than Left vs. Right
(Matt Taibbi) I was surprised, amused and annoyed all at once when I found out yesterday that some moron-provocateur linked to notorious right-wing cybergoon Andrew Breitbart had infiltrated a series of private e-mail lists – including one that I have been participating in – and was using them to run an exposé on the supposed behind-the-scenes marionetting of the OWS movement by the liberal media. According to various web reports, what happened was that a private "cyber-security researcher" named Thomas Ryan somehow accessed a series of email threads between various individuals and dumped them all on BigGovernment.com, Breitbart's site. Gawker is also reporting that Ryan forwarded some of these emails to the FBI and the NYPD. I have no idea whether those email exchanges are the same as the ones I was involved with. But what is clear is that some private email exchanges between myself and a number of other people – mostly financial journalists and activists who know each other from having covered the crisis from the same angle in the last three years, people like Barry Ritholz, Dylan Ratigan, former regulator William Black, Glenn Greenwald and myself – ended up being made public. (Rolling Stone)
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posted: 11/8/11                   0       4
#5 



8/17/2011 Is the SEC Covering Up Wall Street Crimes?
Matt Taibbi: A whistle blower says the agency has illegally destroyed thousands of documents, letting financial crooks off the hook.

Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file – "Hey, chief, didja know this guy had two wives die falling down the stairs?" No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record. That, it now appears, is exactly how the Securities and Exchange Commission has been treating the Wall Street criminals who cratered the global economy a few years back. For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed. By whitewashing the files of some of the nation's worst financial criminals, the SEC has kept an entire generation of federal investigators in the dark about past inquiries into insider trading, fraud and market manipulation against companies like Goldman Sachs, Deutsche Bank and AIG. With a few strokes of the keyboard, the evidence gathered during thousands of investigations – "18,000 ... including Madoff," as one high-ranking SEC official put it during a panicked meeting about the destruction – has apparently disappeared forever into the wormhole of history. Under a deal the SEC worked out with the National Archives and Records Administration, all of the agency's records – "including case files relating to preliminary investigations" – are supposed to be maintained for at least 25 years. But the SEC, using history-altering practices that for once actually deserve the overused and usually hysterical term "Orwellian," devised an elaborate and possibly illegal system under which staffers were directed to dispose of the documents from any preliminary inquiry that did not receive approval from senior staff to become a full-blown, formal investigation. Amazingly, the wholesale destruction of the cases – known as MUIs, or "Matters Under Inquiry" – was not something done on the sly, in secret. The enforcement division of the SEC even spelled out the procedure in writing, on the commission's internal website. "After you have closed a MUI that has not become an investigation," the site advised staffers, "you should dispose of any documents obtained in connection with the MUI." (Rolling Stone)
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posted: 9/14/11                   0       5
#6 
keywords: Adam Storch, American International Group, Andrew Tong, Bank Of America, Bankers Trust, Barry Walters, Bear Stearns, Bernie Madoff, Bill Laufer, Charles Grassley, Christopher Cox, Citigroup, Daniel Indiviglio, Darcy Flynn, Davis Polk, Der Spiegel, Deutsche Bank, Financial Crisis, Gary Aguirre, Gary Lynch, George Orwell, George W Bush, Germany, Goldman Sachs, Harry Markopolos, JP Morgan Chase, Jacqueline Millan, Joel Sauer, John Mack, John Nester, Julie Preuitt, Ken Hall, Laurence Brewer, Lehman Brothers, Linda Chatman Thomsen, Lynn Turner, Mary Schapiro, Morgan Stanley, National Archives And Records Administration, Paul Wester, Pequot Capital, Ping Jiang, Police, R Allen Stanford, Richard Walker, Robert Khuzami, Rolf Breuer, Sac Capital, Seaboard, Securities And Exchange Commission, Stephen Cutler, Texas, The Atlantic, US Congress, University Of Pennsylvania, Untied States, Wall Street, Whistleblowers, William Mclucas, Wilmerhale Add New Keyword To Link



2/16/2011 Why Isn't Wall Street in Jail? Financial crooks brought down the world's economy -- but the feds are doing more to protect them than to prosecute them
By Matt Taibbi. Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer. "Everything's fucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that." I put down my notebook. "Just that?" "That's right," he said, signaling to the waitress for the check. "Everything's fucked up, and nobody goes to jail. You can end the piece right there." Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people. This article appears in the March 3, 2011 issue of Rolling Stone. The issue is available now on newsstands and will appear in the online archive February 18. The rest of them, all of them, got off. Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom — an industrywide scam that involved the mass sale of mismarked, fraudulent mortgage-backed securities — has ever been convicted. Their names by now are familiar to even the most casual Middle American news consumer: companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley. Most of these firms were directly involved in elaborate fraud and theft. Lehman Brothers hid billions in loans from its investors. Bank of America lied about billions in bonuses. Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling. What's more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even "one dollar" just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick "The Gorilla" Fuld conveniently failed to disclose. Yet not one of them has faced time behind bars.

"You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshit would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once." (Rolling Stone)
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posted: 3/12/11                   0       4
#7 
keywords: Al Dunlap, American International Group, Art Samberg, Arthur Tildesley Jr, Bailouts, Bank Of America, Barack Obama, Bear Stearns, Bernie Madoff, Boston, Charles Grassley, Charles Schumer, Citigroup, Columbia University, Commodity Futures Trading Commission, Credit Default Swaps, Credit Suisse, Davis Polk & Wardwell, Debevoise & Plimpton, Derek Jeter, Derivatives, Deutsche Bank, Dick Fuld, Dick Walker, Eliot Spitzer, Enron, Eric Dinallo, Fabrice Tourre, Fannie Mae, Federal Deposit Insurance Corporation, Federal Reserve, Financial Crisis, Financial Crisis Inquiry Commission, Freddie Mac, Gary Aguirre, Gary Crittenden, Gary Lynch, General Electric, George W Bush, Germany, Goldman Sachs, Government Transparency, Heller Financial, Henry Waxman, Hillary Clinton, Hilton Hotels, Immigration, JP Morgan Chase, Jed Rakoff, Joe Cassano, John Mack, Joseph St Denis, Lanny Breuer, Lehman Brothers, Linda Thomsen, Lloyd Blankfein, Lynn Turner, Mary Jo White, Merrill Lynch, Mexico, Morgan Stanley, New York City, New York Stock Exchange, Office Of The Comptroller Of The Currency, Ohio, Oliver Budde, Paul Berger, Philadelphia, Police, Portfolio Magazine, Preet Bharara, Residential Mortgage-backed Securities, Restricted Stock Units, Rite Aid, Robert Khuzami, Robert Morgenthau, Roger Clemens, Rudy Giuliani, Securities And Exchange Commission, Simpson Thacher & Bartlett, Sunbeam, Switzerland, Terrorists, US Congress, US Department Of Justice, United States, Wall Street, War On Drugs, Worldcom Add New Keyword To Link



2/2/2011 All-Time Record: Wall Street Compensation Hits $135 Billion
Wall Street was on the ropes just 25 months ago. Citigroup, Merrill Lynch, Lehman Bros., Bank of America, Wachovia, maybe Morgan Stanley; Goldman Sachs and JP Morgan Chase were wounded. GE could not role over its commercial paper. European banks required cash infusions from our central bank. Just in the wake of a report highlighting Wall Street’s narrow, selfish imbecilities, we are treated to the stunning realization that the captains of the sinking liner are today enjoying the all-time record payoff for surviving with massive transfusions. The payout of $135 billion to employees of Wall Street firms in 2010 is equivalent to the total market value of both Bank of America and Citigroup. Imagine– in two years. (Forbes)
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posted: 8/1/11                   0       1
#8 



12/21/2010 Bank Of America Registers BrianMoynihanBlows.com And BrianMoynihanSucks.com
Is Brian Moynihan worried about something (perhaps related to Wikileaks) or is Bank of America just practicing some prudent defensive brand management. According to Domain Name Wire, the bank recently registered BrianMoynihanBlows.com, BrianMoynihanSucks.com, BrianTMoynihanBlows.com, and BrianTMoynihanSucks.com so that nobody else can get them first. They also registered .net and .org versions. (TG Daily)
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posted: 12/23/10                   0       8
#9 



10/14/2010 Faulty Paperwork Prompts Deepening Foreclosure Problem
Some lenders have put a temporary hold on foreclosures and state attorney generals have launched a joint investigation to sort out problems with questionable documents. Paul Solman gives details on the flawed paperwork as part of his ongoing series on making sense of financial news. (PBS)
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posted: 11/28/10      
            		 0       9
#10 
keywords: Arthur Schack, Bank Of America, California, Financial Crisis, Foreclosuregate, Gmac, JP Morgan Chase, Max Gardner, New York City, North Carolina, Paul Solman, Realtytrac, Rebecca Mairone, Residential Mortgage-backed Securities, Sandra Orosco, Shelby, United States, Walter Hackett Add New Keyword To Link



2/23/2010 Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs
When a congressional panel convened a hearing on the government rescue of American International Group Inc. in January, the public scolding of Treasury Secretary Timothy F. Geithner got the most attention. Lawmakers said the former head of the New York Federal Reserve Bank had presided over a backdoor bailout of Wall Street firms and a coverup. Geithner countered that he had acted properly to avert the collapse of the financial system. A potentially more important development slipped by with less notice, Bloomberg Markets reports in its April issue. Representative Darrell Issa, the ranking Republican on the House Committee on Oversight and Government Reform, placed into the hearing record a five-page document itemizing the mortgage securities on which banks such as Goldman Sachs Group Inc. and Societe Generale SA had bought $62.1 billion in credit-default swaps from AIG. These were the deals that pushed the insurer to the brink of insolvency -- and were eventually paid in full at taxpayer expense. The New York Fed, which secretly engineered the bailout, prevented the full publication of the document for more than a year, even when AIG wanted it released. That lack of disclosure shows how the government has obstructed a proper accounting of what went wrong in the financial crisis, author and former investment banker William Cohan says. “This secrecy is one more example of how the whole bailout has been done in such a slithering manner,” says Cohan, who wrote “House of Cards” (Doubleday, 2009), about the unraveling of Bear Stearns Cos. “There’s been no accountability.”

E-mails between Fed and AIG officials that Issa released in January show that the efforts to keep Schedule A under wraps came from the New York Fed. Revelation of the messages contributed to the heated atmosphere at the House hearing. “What date did you know there was a coverup?” Republican Congressman Brian Bilbray of California demanded of Geithner. Lawmakers used the word coverup more than a dozen times as they peppered Geithner with questions. (Bloomberg)
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posted: 7/3/10                   0       5
#11 
keywords: American International Group, Bailouts, Bank Of America, Bear Stearns, Chris Dodd, Daniel Calacci, Darrell Issa, Deutsche Bank, Duke University, Ed Grebeck, Federal Reserve, Financial Crisis, Financial Instruments, Goldman Sachs, Jack Gutt, James Cox, Janet Tavakoli, Joseph Cassano, Mark Herr, Merrill Lynch, Michael Duvally, Neil Barofsky, New Jersey, Philip Angelides, Residential Mortgage-backed Securities, Societe Generale, Tavakoli Structured Finance Inc, Tempus Advisors, Thomas Baxter, Timothy Geithner, US Congress, United States, Wall Street, Warren, William Cohan Add New Keyword To Link



8/27/2009 Federal Reserve Says Disclosing Loans Will Hurt Banks
The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank’s planned appeal of a court ruling moot (Bloomberg)
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posted: 8/28/09                   0       16
#12 



8/4/2009 National Guard Needed To Protect Alabama County From Fatal Interest Rate Swaps
A few years ago Jefferson County, Alabama bought 17 interest rate swaps from JP Morgan, Lehman Brothers and Bank of America with the intention of hedging interest rate risk (Business Insider)
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posted: 8/21/09                   0       12
#13 



7/21/2009 Kucinich: 'Is the Fed paying banks not to loan money?'
Ohio Democratic Congressman Dennis Kucinich wants to know: “If [the Troubled Asset Relief Program] isn’t about keeping people in their homes or providing credit to businesses, what is it for?” (The Raw Story)
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posted: 7/28/09                   0       12
#14 



7/17/2009 Paulson reveals US concerns of breakdown in law and order
Making his first appearance on Capitol Hill since leaving office, the former Treasury secretary Hank Paulson said it was important at the time not to reveal the extent of officials' concerns, for fear it would "terrify the American people and lead to an even bigger problem" (The Independent)
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posted: 7/21/09                   1       11
#15 



7/16/2009 Congressman Stearns: Mr Paulson How Do You Have Any Credibility? (CSPAN)
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posted: 7/24/09      
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#16 



7/10/2009 AIG Seeks Clearance For More Bonuses
$2.4 Million in Executive Payments Due Next Week (Washington Post)
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posted: 7/17/09                   0       13
#17 



7/9/2009 The Great American Bubble Machine
From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression — and they're about to do it again

But then, any attempt to construct a narrative around all the former Goldmanites in influential positions quickly becomes an absurd and pointless exercise, like trying to make a list of everything. What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain — an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy. (Rolling Stone)
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posted: 5/26/10                   0       15
#18 
keywords: Al Gore, Alan Greenspan, Alternative Energy, American International Group, Arjun Murti, Bailouts, Bank Of America, Barack Obama, Bart Stupak, Bear Stearns, Big Oil, Bill Clinton, Blue Ridge Corporation, Blue Source Llc, British Petroleum, British Petroleum, Brooksley Born, California, California Public Employees' Retirement System, Canada, Carbon Dioxide, Changing World Technologies, Chicago Climate Exchange, Citigroup, Climate Change, Collateralized Debt Obligations, Commodity Futures Trading Commission, Countrywide, Cramer & CO, Credit Default Swaps, Daimlerchrysler, David Blood, David Viniar, Dennis Kozlowski, Derivatives, Ebay, Ed Liddy, Electric Vehicles, Eliot Spitzer, Enron, Eric Salzman, Etoys, Fannie Mae, Federal Deposit Insurance Corporation, Federal Reserve, Financial Crisis, Freddie Mac, Gary Gensler, Generation Investment Management, George W Bush, Germany, Gibson Greetings, Goldman Sachs, Great Depression, Green Growth Fund, Gsamp Trust, Henry Paulson, Horizon Wind Energy, International Monetary Fund, Internet, Internet Bubble, Ipos, Italy, J Arons & CO, Jay Ritter, Jerry Yang, Jim Cramer, Jmp Securities, John Kenneth Galbraith, John Mccain, John Thain, Jon Corzine, Joshua Bolten, Kansas, Keith Olbermann, Ken Lay, Ken Newcombe, Larry Summers, Lehman Brothers, Lloyd Blankfein, Lloyd Doggett, Marcus Goldman, Mark Ferguson, Mark Patterson, Massachusetts, Massachusetts Institute Of Technology, Meg Whitman, Merrill Lynch, Michael Greenberger, Michael Hecht, Michael Masters, Moody's, Nasdaq, National Economic Council, Neel Kashkari, Neil Levin, Netzero, New Jersey, New York, New York City, New York Stock Exchange, New York Times, Nicholas Maier, Oil Bubble, Orange County, Peter Harris, Procter & Gamble, Residential Mortgage-backed Securities, Robert Rubin, Robert Steele, Samuel Sachs, Securities And Exchange Commission, Shenandoah Corporation, Sidney Weinberg, Simon Johnson, Standard & Poor's, Stephen Friedman, Strategic Petroleum Reserve, Texas, Tyco International, US Congress, US Department Of The Treasury, US Energy Information Administration, US Government Accountability Office, United States, University Of Florida, University Of Maryland, Wachovia, Wall Street, Webvan, White House, William Dudley, World Bank, Yahoo Add New Keyword To Link



6/26/2009 Rothschild and Freshfields founders linked to slavery
Nathan Mayer Rothschild, the banking family’s 19th-century patriarch, and James William Freshfield, founder of Freshfields, the top City law firm, benefited financially from slavery, records from the National Archives show, even though both have often been portrayed as opponents of slavery (Financial Times)
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posted: 6/29/09                   2       12
#19 



6/18/2009 Geithner Defends Plan to Give Fed Stepped-Up Powers
Dodd, a Connecticut Democrat, quoted one critic's view that giving the central bank more power was like awarding a son a "bigger, faster car right after he crashed the family station wagon." (Bloomberg)
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posted: 6/19/09                   6       20
#20 



6/15/2009 Credit Bailout: Issuers Slashing Card Balances
He proposed paying half of his $5,486 balance and calling the matter even. (New York Times)
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posted: 6/16/09                   4       22
#21 



6/11/2009 US House to debate Ron Paul’s ‘Audit the Fed’ bill
In a show of cross-party unity, Ohio Democratic Congressman Dennis Kucinich became the bill’s 218th co-sponsor, pushing it over the threshold for debate in Congress (The Raw Story)
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posted: 6/12/09                   4       27
#22 



6/10/2009 Obama Administration to Seek New Power for SEC on Executive Pay
to let shareholders vote on executive pay and make directors who set compensation more independent (Bloomberg)
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posted: 6/10/09                   4       29
#23 



6/9/2009 Congress subpoenas the Federal Reserve
House lawmakers on Tuesday said they have subpoenaed the Federal Reserve to hand over e-mails, notes and other documents related to its role in Bank of America Corp.'s acquisition of Merrill Lynch & Co (USA Today)
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posted: 6/10/09                   5       26
#24 



6/4/2009 UPDATE: US Lawmakers Call BofA's Lewis To Testify June 11
Towns, who chairs the panel, and Kucinich, who chairs a key subcommittee, have been investigating the circumstances behind the government's decision to give Bank of America billions in government aid, and its acquisition of Merrill Lynch (Dow Jones)
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posted: 6/10/09                   4       22
#25 



6/1/2009 Banks run Congress, top Democrat says
It doesn’t take a rocket scientist to deduce that the banking and financial services industry has an outsized influence in Congress (The Raw Story)
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posted: 6/1/09                   4       24
#26 



6/1/2009 Citigroup Stuck With Bernanke Offer Rival Banks Plan to Refuse
When financial stocks slumped in February to the lowest level in at least 17 years, U.S. Federal Reserve Chairman Ben S. Bernanke told Congress the government might end up owning "substantial" stakes in the country’s biggest banks (Bloomberg)
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posted: 6/1/09                   3       25
#27 



5/31/2009 In Crisis, Banks Dig In for Fight Against Rules
Murmurs were already emanating from Washington about the need for a wide-ranging regulatory overhaul, and Wall Street executives girded for a fight (New York Times)
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posted: 6/4/09                   1       22
#28 



5/29/2009 Fed’s Role in AIG May Be First Target of GAO Audit
Congressional auditors may soon examine the Federal Reserve’s role in the U.S. bailout of American International Group Inc. after gaining authority to review Fed documents under a law that took force last week (Bloomberg)
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posted: 6/4/09                   1       19
#29 



5/21/2009 Dollar Is Dirt, Treasuries Are Toast, AAA Is Gone: Mark Gilbert (Bloomberg)
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posted: 5/22/09                   7       24
#30 



4/23/2009 Did government block transparency? In testimony released by New York State Attorney General Andrew Cuomo, Bank of America's CEO Ken Lewis says he was pressured by the government to keep quiet about losses from absorbing troubled Merrill Lynch (American Public Media)
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posted: 6/10/09                   3       21
#31 



4/2/2009 FASB Eases Fair-Value Rules Amid Lawmaker Pressure
The Financial Accounting Standards Board, pressured by U.S. lawmakers and financial companies, voted to relax fair-value accounting rules that Citigroup Inc. and Wells Fargo & Co. say don’t work when markets are inactive (Bloomberg)
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posted: 8/21/09                   0       10
#32 
keywords: American Bankers Association, Arthur Levitt Jr, Bank Of America, Blackstone Group, Citigroup, Edward Yingling, Federal Deposit Insurance Corporation, Financial Accounting Standards Board, First Trust Advisors, Richard Parsons, Robert Herz, Robert Rubin, Securities And Exchange Commission, Spencer Bachus, Stephen Schwarzman, United States, Wells Fargo, William Donaldson, William Isaac Add New Keyword To Link



3/10/2009 A Conversation with Ben S. Bernanke (transcript)
"We must have a strategy that regulates the financial system as a whole, in a holistic way, not just its individual components" (Council on Foreign Relations)
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posted: 5/14/09                   3       24
#33 



3/10/2009 At Council of Foreign Relations, Bernanke says regulatory overhaul needed
Fed chief calls for strategy to regulate financial system as whole (NBC)
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posted: 5/14/09                   2       23
#34 



3/10/2009 Federal Reserve Chairman Ben Bernanke at Council on Foreign Relations (CSPAN)
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posted: 5/14/09      
            		 3       25
#35 



2/9/2009 U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs, would've paid for 90% of all mortgages
The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages. The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more. The Senate is to vote this week on an economic-stimulus measure of at least $780 billion. It would need to be reconciled with an $819 billion plan the House approved last month. Only the stimulus bill to be approved this week, the $700 billion Troubled Asset Relief Program passed four months ago and $168 billion in tax cuts and rebates enacted in 2008 have been voted on by lawmakers. The remaining $8 trillion is in lending programs and guarantees, almost all under the Fed and FDIC. Recipients’ names have not been disclosed. “We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?” (Bloomberg)
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posted: 5/6/09                   2       13
#36 



2/4/2009 Campbell Brown: No Bias, No Bull
Bailout Pay Cuts; Madoff Warnings Ignored?

QUESTION: That seems as if people that the president called shameless last week are being allowed to go on the honor system. I mean, what is the accountability? You said accountability. What is the teeth? I mean, what happens if these people violate it? Do we yank the money back? Do we bankrupt the firms? Do we fire the executives? ROBERT GIBBS, WHITE HOUSE PRESS SECRETARY: I will get clarification from Treasury on that, but I don't -- I mean, first of all, the beginning and the end of these is not just putting something on a Web site. (CNN)
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posted: 6/4/10                   0       7
#37 



2/4/2009 TARP Recipients Paid Out $114 Million for Politicking Last Year
The companies that have been awarded taxpayers' money from Congress's bailout bill spent $77 million on lobbying and $37 million on federal campaign contributions, Center finds. The return on investment: 258,449 percent (Communications)
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posted: 7/9/09                   0       13
#38 



1/16/2009 Bank of America to receive additional $20 billion
But the need for fresh government support to grapple with the newly revealed losses at Merrill Lynch, the brokerage firm he snapped up in a rapid-fire arrangement at the height of the financial crisis in September, raises questions about whether the bank has gone a deal too far (New York Times)
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posted: 6/10/09                   2       20
#39 



1/1/2009 Council on Foreign Relations
Corporate Members (Wikipedia)
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posted: 5/5/09                   2       20
#40 



10/15/2008 Global financial rescue package nears £3 TRILLION as the U.S. unveils Brown-style bail-out for struggling banks (UK Daily Mail)
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posted: 6/16/09                   3       18
#41 



9/29/2008 U.S. stocks hammered after House rejects rescue
Dow posts biggest point loss ever, topping plunge after Sept. 11, 2001

Taking unprecedented steps, the Fed and other major central banks on Monday poured hundreds of billions of dollars of added liquidity into money markets left paralyzed by fears of further bank failures in the United States and Europe. (Wall Street Journal)
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posted: 5/18/09                   3       30
#42 



9/29/2008 U.S. Stocks Slide, Dow Plunges 777 Points, As Bailout Bill Fails
Dow Hit By Biggest-point Loss Ever, Topping Post 9/11 Loss

The sell off is the largest percentage drop for the S&P 500 since Oct. 26, 1987. It also translates into a $700 billion loss for the day for the S&P, according to Howard Silverblatt, senior index analyst at Standard & Poor's. (CBS, Market Watch)
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posted: 5/4/09                   2       22
#43 



9/26/2008 WaMu is largest U.S. bank failure
Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion (Reuters)
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posted: 7/29/09                   0       9
#44 



9/23/2008 NO To The Paulson-Bernanke Derivatives Scam Bailout
Bail Out the American People, Not Wall Street! An Economic Recovery Strategy for Protectionists, Dirigists, Mercantilists, and Populists (Webster G. Tarpley)
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posted: 6/18/09                   5       22
#45 



9/21/2008 Administration calls for quick action on bailout
Democrats want protections for homeowners, taxpayers in eventual rescue (MSNBC)
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posted: 6/5/09                   2       23
#46 



9/19/2008 One Week Later, a New World Order
Just five days and a bankruptcy, a government takeover and a shotgun merger later, the American financial system has been completely reordered, and more changes in the regulatory framework and on Wall Street are likely to come in the next few years (Wall Street Journal)
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posted: 5/14/09                   2       22
#47 



12/4/2007 "Doomsday Seed Vault" in the Arctic
Bill Gates, Rockefeller and the GMO giants know something we don’t

Is it a coincidence that these same organizations, from Norway to the Rockefeller Foundation to the World Bank are also involved in the Svalbard seed bank project? According to Prof. Francis Boyle who drafted the Biological Weapons Anti-Terrorism Act of 1989 enacted by the US Congress, the Pentagon is ‘now gearing up to fight and win biological warfare’ as part of two Bush national strategy directives adopted, he notes, ‘without public knowledge and review’ in 2002. Boyle adds that in 2001-2004 alone the US Federal Government spent $14.5 billion for civilian bio-warfare-related work, a staggering sum. (Global Research)
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posted: 4/27/10                   0       8
#48 
keywords: Adolf Hitler, Africa, Africa's Seed Systems, Akinwumi Adesina, Arctic Ocean, Bank Of America, Barents Sea, Bill And Melinda Gates Foundation, Bill Gates, Bioversity International, Brasil Ecodiesel, Brazil, Brazilian Coffee Institute, Canada, Cary Fowler, China, Consultative Group On International Agriculture Research, David Rockefeller, Denmark, Dreamworks Animation, Dupont, Dwight Eisenhower, Epicyte, Eugenics, European Union, Ford Foundation, Forrest Hill, Genetic Use Restriction Technology, Genetically Modified Organisms, George Harrar, Germany, Global Crop Diversity Trust, Golden Rice, Gordon Conway, Green Revolution, Harvard University, Henry Wallace, India, Indian Department Of Agricultural Research, International Maize And Wheat Improvement Center, JP Morgan Chase, Japan, Jorio Dauster, Joseph De Vries, Kenya, Lewis Coleman, Mamphela Ramphele, Mangala Rai, Maurice Strong, Mexico, Microsoft, Monsanto, Nadya Shmavonian, Nazi, Nelson Rockefeller, North Pole, Northrop Grumman Corp, Norway, Norwegian University Of Life Sciences, Pentagon, Peter Matlon, Philippines, Pioneer Hi-bred Seed Company, Population Council, Robert Mcnamara, Rockefeller Foundation, Roy Steiner, South African, South Korea, Strive Masiyiwa, Svalbard, Svalbard Global Seed Vault, Switzerland, Sylvia Mathews Burwell, Syngenta Foundation, Syria, UN Development Program, UN Food And Agriculture Organization, US Congress, US Department Of Agriculture, US Department Of State, United Nations, United States, United States Agency For International Development, Warren Buffett, World Bank, UN World Health Organization Add New Keyword To Link



11/6/2006 ‘Superman’ scanner to spot bombers
The T-wave machines "close their eyes" to anatomical details, providing some reassurance to privacy campaigners who fear people will be "stripped naked" by the machines. (The Penisula)
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posted: 1/22/10                   0       13
#49 



3/7/2006 The Most Powerful Bank You've Never Heard Of
Chances are, though, that you've never even heard of what is arguably the most powerful financial institution on earth, the Bank for International Settlements (BIS).

A banker's bank, the BIS does no direct business with individuals, governments, or corporate entities. Instead, it deals solely with member nations' central banks (most of which are privately owned). There are 55 of them at present, and the list includes every central bank of consequence in the world. (Investors Insight)
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posted: 5/2/10                   0       5
#50 




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