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11/25/2011  The shocking truth about the crackdown on Occupy: The violent police assaults across the US are no coincidence. Occupy has touched the third rail of our political class's venality
US citizens of all political persuasions are still reeling from images of unparallelled police brutality in a coordinated crackdown against peaceful OWS protesters in cities across the nation this past week. An elderly woman was pepper-sprayed in the face; the scene of unresisting, supine students at UC Davis being pepper-sprayed by phalanxes of riot police went viral online; images proliferated of young women – targeted seemingly for their gender – screaming, dragged by the hair by police in riot gear; and the pictures of a young man, stunned and bleeding profusely from the head, emerged in the record of the middle-of-the-night clearing of Zuccotti Park. But just when Americans thought we had the picture – was this crazy police and mayoral overkill, on a municipal level, in many different cities? – the picture darkened. The National Union of Journalists issued a Freedom of Information Act request to investigate possible federal involvement with law enforcement practices that appeared to target journalists. The New York Times reported that "New York cops have arrested, punched, whacked, shoved to the ground and tossed a barrier at reporters and photographers" covering protests. Reporters were asked by NYPD to raise their hands to prove they had credentials: when many dutifully did so, they were taken, upon threat of arrest, away from the story they were covering, and penned far from the site in which the news was unfolding. Other reporters wearing press passes were arrested and roughed up by cops, after being – falsely – informed by police that "It is illegal to take pictures on the sidewalk."
(London Guardian)
posted: 12/14/11                   0       13
#1 



10/25/2011  Reckless Endangerment: Totally Corrupt America
Last March I reviewed Matt Taibbi’s important book Griftopia, an entertaining account of the through-going financial fraud that gave us the financial crisis. http://www.vdare.com/print/13156 Taibbi shows that the US “superpower” can match any third world backwater in the magnitude of greed and fraud that is endemic in business and government. I would not be surprised if Taibbi’s book motivated the more aware participants of Occupy Wall Street. Taibbi’s Griftopia was published last year. This year Henry Holt publishers have provided us with Gretchen Morgenson and Joshur Rosner’s Reckless Endangerment. Morgenson and Rosner tell the story again, but with less drama and provocation. Possibly, it might be more acceptable to those gullible Americans who wrap themselves in the flag and refuse to believe that their country could ever knowingly do anything that is wrong. I am not suggesting that Morgenson and Rosner pull their punches. To the contrary, the authors deliver enough knockouts to be contenders with Taibbi as world champions in exposing the reckless fraud that the US financial sector and its regulators now epitomize.
(Paul Craig Roberts)
posted: 10/28/11                   0       14
#2 



10/11/2011  How politicians can kick the Wall Street habit
So, protesters are occupying Wall Street and downtown banking districts in scores of other cities. Many Democratic politicos have endorsed the movement’s spirit and goals. Now what? The pols are in no position to enact any further left-populist reforms — laws that create, say, a financial transaction tax, or that make it easier for employees to form unions — so long as Republicans control the House and have veto power in the Senate. For that matter, the Democrats couldn’t even get those bills enacted when they controlled both houses of Congress. So what, besides affirming their solidarity with the demonstrators, can they do?
(Washington Post)
posted: 11/27/11                   0       11
#3 



3/2/2011  Why the Dollar's Reign Is Near an End
For decades the dollar has served as the world's main reserve currency, but, argues Barry Eichengreen, it will soon have to share that role. Here's why--and what it will mean for international markets and companies. - The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days. Instead, it's the extent to which the market remains dollar-centric. Consider this: When a South Korean wine wholesaler wants to import Chilean cabernet, the Korean importer buys U.S. dollars, not pesos, with which to pay the Chilean exporter. Indeed, the dollar is virtually the exclusive vehicle for foreign-exchange transactions between Chile and Korea, despite the fact that less than 20% of the merchandise trade of both countries is with the U.S. Chile and Korea are hardly an anomaly: Fully 85% of foreign-exchange transactions world-wide are trades of other currencies for dollars. What's more, what is true of foreign-exchange transactions is true of other international business. The Organization of Petroleum Exporting Countries sets the price of oil in dollars. The dollar is the currency of denomination of half of all international debt securities. More than 60% of the foreign reserves of central banks and governments are in dollars.
(Wall Street Journal)
posted: 3/4/11                   0       14
#4 



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)
posted: 3/12/11                   0       9
#5 
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



8/17/2010  Google-Verizon Deal: The End of The Internet as We Know It
The Federal Communication Commission should act swiftly to protect free access to the Internet and prevent media giants from co-opting the future of the most powerful new medium since the printing press. Incredibly, the FCC asked the corporations who stand to profit most to write rules on how bandwidth will be divvied up. Google and Verizon floated a plan that most observers view as a roadmap to a multi-tiered system. AT&T has endorsed the Google/Verizon plan. What's at stake is control over whose data gets transmitted, and how quickly. A wide-open field let's everyone compete. A tiered system like the one proposed by the big shots would inevitably favor them and their preferred media; some web purveyors would be relegated to second- and third-class status. What's also at stake is freedom of speech and freedom of the press, because so many people get their news and information from the net today. Not to mention free and open access to intellectual and commercial media that power education, development and entrepreneurship. Basically, the corporatists want to install a meter on your Internet. They whine that if they aren't allowed to nickel-and-dime us, innovation will wither.
(Huffington Post)
posted: 8/17/10                   0       13
#6 



5/10/2010  Justice Elena Kagan, and President Larry Summers
Kagan's connections to Summers are interesting. She was a professor there when Summers arrived from his work at Treasury, under Bill Clinton, to deregulate banks and derivatives to get the gambling moving...guaranteed by the taxpayer. As President Summers of Harvard from 2001 to 2006, Kagan thrived. She was made a full professor, then Summers tapped her to be the Dean of Harvard Law. Her pet peeve there was to keep the American military and ROTC off campus because she disputes the "don't ask, don't tell" provisions put in place by Clinton.
(NJ.com)
posted: 5/26/10                   0       19
#7 



4/12/2010  Robbins Umeda LLP Announces an Investigation of the Acquisition of Boots & Coots, Inc. by Halliburton Co.
(Wall Street Journal)
posted: 6/22/10                   0       5
#8 



1/1/2010  Robert Rubin
Economic record and the 2008 global financial crisis - Rubin's assistance to Citigroup's lobbying efforts were successful in getting the Glass-Steagall Act repealed in October 1999.
(Wikipedia)
posted: 5/26/10                   0       11
#9 



7/16/2009  Max Keiser takes offense to Goldman Sachs story (1 of 2) (France 24)
posted: 7/21/09      
            
0       15
#10 



7/16/2009  Max Keiser takes offense to Goldman Sachs story (2 of 2) (France 24)
posted: 7/21/09      
            
0       14
#11 



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)
posted: 5/26/10                   0       16
#12 
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  Derivatives Regulation Fight Lurks in US Climate Bill
He added to the bill a measure that would regulate over-the-counter derivatives, accepting a stipulation sought by other Democrats that those rules would be repealed if Congress adopts broader market regulations
(Bloomberg)
posted: 6/29/09                   3       15
#13 



3/27/2009  How the Nation's Only State-Owned Bank Became the Envy of Wall Street
The Bank of North Dakota is the only state-owned bank in America—what Republicans might call an idiosyncratic bastion of socialism. It also earned a record profit last year even as its private-sector corollaries lost billions. To be sure, it owes some of its unusual success to North Dakota’s well-insulated economy, which is heavy on agricultural staples and light on housing speculation. But that hasn’t stopped out-of-state politicos from beating a path to chilly Bismarck in search of advice. Could opening state-owned banks across America get us out of the financial crisis? It certainly might help, says Ellen Brown, author of the book, Web of Debt, who writes that the Bank of North Dakota, with its $4 billion under management, has avoided the credit freeze by “creating its own credit, leading the nation in establishing state economic sovereignty.” Mother Jones spoke with the Bank of North Dakota’s president, Eric Hardmeyer. - MJ: Would states with your model have any new tools to get out of the credit crisis? EH: Let me put it to you another way and tell you another thing that we do. We also provide a dividend back to the state. Probably this year we’ll make somewhere north of $60 million, and we will turn over about half of our profits back to the state general fund. And so over the last 10, 12 years, we’ve turned back a third of a billion dollars just to the general fund to offset taxes or to aid in funding public sector types of needs. MJ: Not bad for a state with a population of 600,000. EH: Right. And here’s another thing: Back in 2001, 2002, when we went through the dot com bust, all the states suffered some sort of budget shortfall, including the state of North Dakota. At that time our budget shortfall was fairly insignificant--$40 some million. And so it was quite easy to overcome that. The governor just simply said alright, we’re going to turn back 1 percent of all general fund agencies, and the Bank of North Dakota, you will declare another dividend to make up the balance. And so we did that. Our capital was in a fine position to go ahead and do that. So in some cases we’ve acted as a rainy day fund. MJ: And now the current downturn seems to have bypassed you. EH: The State of North Dakota does not have any funding issues at all. We in fact are dealing with the largest surplus we’ve ever had. So our concern is how do we spend it wisely and make sure we save it for the future.
(Mother Jones)
posted: 7/3/10                   0       6
#14 



11/19/2008  Inhofe: Paulson Used Scare Tactics to Force Bailout Legislation
Oklahoma senator reveals details of conference call and is set to push legislation to make bailout spending transparent. - “He said, ‘This is going to be far worse than the Great Depression in the ’30s,’” Inhofe said. “And all these things – he was very descriptive of exactly what would happen if, if we didn’t buy out these toxic assets which he abandoned the day after he got the money.”
(Business and Media Institute)
posted: 5/4/09                   1       21
#15 



11/14/2008  Dennis Kucinich grills Treasury's Neel Kashkari on Bailout Scam in Oversight Committee (CSPAN)
posted: 5/4/09      
            
2       17
#16 



11/12/2008  Paulson changes tack on financial rescue
Consumer-finance sector will get help, but mortgage asset plan's shelved - But in a striking admission, Paulson said that buying up mortgage assets "is not the most effective way" to use government funding. Purchasing these so-called "toxic" assets was once the cornerstone of the rescue plan for financial markets and was almost the entire focus of Congress when the package was being debated before its enactment. But almost as soon as Treasury received the money, it decided that giving capital to banks in return for preferred stock was a better use of the funds.
(Wall Street Journal)
posted: 5/4/09                   1       21
#17 



10/17/2008  The Guys From ‘Government Sachs’
This summer, when the Treasury secretary, Henry M. Paulson Jr., sought help navigating the Wall Street meltdown, he turned to his old firm, Goldman Sachs, snagging a handful of former bankers and other experts in corporate restructurings
(New York Times)
posted: 7/7/09                   0       13
#18 



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)
posted: 6/18/09                   5       23
#19 



8/17/2007  Apologize to Peter Schiff
his CNBC 8/28/06 recession prediction, FOX 12/31/06 on home prices, FOX 8/17/07 on lots, which are laughed at
(FOX)
posted: 6/25/09      
            
1       16
#20 



9/26/2005  Wanna bet? Hedging for rookies
Firm offers "hedgelets" that let small investors take positions on gas prices, mortgages, etc.
(CNN)
posted: 5/4/09                   3       16
#21 
keywords: Brad Barber, Chicago Board Options Exchange, Derivatives, Financial Crisis, Hedge Funds, Hedgestreet, Housing Bubble, Mark Longo, Russell Anderson, Terrance Odean, United States, University Of California, Walter Torous Add New Keyword To Link



8/25/2005  Derivatives, The Future of Investing?
CNN Money is featuring an article discussing derivative investments, in particular, investments designed for the small investor to hedge his or her bets. HedgeStreet is a company that lets people speculate on economic events, such as gas prices hitting $3.00 by a certain date. This hedge, for instance, might be good for someone with a long commute and would like to neutralize the effect of spending more on gas. In order to invest in the derivatives offered by particular investment company, the investor needs only $100 to open an account, and any trades are limited to $10. The company calls these small items “hedgelets.” At HedgeStreet, the contracts available are based on economic events.
(Consumer Commentary)
posted: 5/4/09                   4       11
#22 



3/1/2004  The Accounting Cycle: The Amazing World of Derivatives
Thinking about the world of structured finance and derivatives, I not only face a bewildering and complex set of securities, but also I must cope with an amazing set of accounting rules. As William Shakespeare would have said had he been an investor in recent times, "A derivative by any other name still reeks."
(Smart Pros)
posted: 5/4/09                   2       15
#23 



10/8/1947  James Orlin Grabbe
more commonly referred to as J. Orlin Grabbe, or just JOG, was an economist and prolific writer with contributions in the theory and practice of finance. He was known by his book International Financial Markets, and for mathematical models for options and derivatives used in international finance and foreign exchange. He was known also for articles and essays about personal freedom and governmental abuse, and for his work as an editor of internet magazines such as the Laissez Faire City Times.
(Wikipedia)
posted: 5/15/09                   4       27
#24 




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