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Documents are largely from what is referenced by interesting films, Prison Planet/Infowars and the Corbett Report. This database is a quick reference and for your analysis, more independent from others' interpretations. The database includes almost all source documents and articles from these films: Loose Change (Final Cut & 2nd Edition), Fabled Enemies, The Obama Deception, End Game, Martial Law 9/11, American Dictators, Matrix of Evil, Zeitgeist: Addendum, Who Killed The Electric Car?, The World According To Monsanto, Mind The Gap, and 7/7 Ripple Effect.
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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)
The year America dissolved It was 2017. Clans were governing America.
The first clans organized around local police forces. The conservatives’ war on crime during the late 20th century and the Bush/Obama war on terror during the first decade of the 21st century had resulted in the police becoming militarized and unaccountable.
As society broke down, the police became warlords. The state police broke apart, and
the officers were subsumed into the local forces of their communities. The newly formed tribes expanded to encompass the relatives and friends of the police.
The dollar had collapsed as world reserve currency in 2012 when the worsening economic depression made it clear to Washington’s creditors that the federal budget deficit was too large to be financed except by the printing of money.
With the dollar’s demise, import prices skyrocketed. As Americans were unable to afford foreign-made goods, the transnational corporations that were producing offshore for US markets were bankrupted, further eroding the government’s revenue base. (Paul Craig Roberts)
David Rosenberg: You Know You Are In A Depression When... Congress moved to extend jobless benefits seven times, as has been the case
over the past two years, at a time when almost half of the ranks of the
unemployed have been looking for at least a half year.
The unemployment rate for adult males (25-54 years) hit a post-WWII this cycle
and is still above the 1982 recession peak, and the youth unemployment rate is
stuck near 25%. These developments will have profound long-term
consequences – social, economic and political.
The fiscal costs of the depression continue to mount, with the White House on
Friday raising its deficit projection for 2011 to $1.4 trillion from $1.267 trillion.
That gap in the forecast – $133 billion – was close to the size of the entire
budget deficit back in 2002. Amazing.
You also know it is a depression when you find out on the weekend that the FDIC
seized and shuttered another seven banks, making it 103 closures for the year.
What a recovery!
You also know it's a depression when a year into a statistical recovery, the
central bank is still openly contemplating ways to stimulate growth. The Fed was
supposed to have already started the process of shrinking its pregnant balance
sheet four months ago and is now instead thinking of restarting Quantitative
Easing. Of course, we are in this bizarre environment where bank credit
continues to contract – last week alone, bank wide consumer credit outstanding
fell $2.2 billion; real estate lending contracted $9.2 billion; and commercial &
industrial loans slid $5.1 billion.
What did the banks do this past week? They replaced cash with government
securities – the $47.5 billion net buying was the second largest in the past three
years. As the banks find few opportunities to lend – households are either not
creditworthy enough to lend to or are busy paying off debts and companies that
do have any expansion plans have enough cash on their balance sheet to
finance their initiatives – they are likely to use their $1 trillion in excess reserves
buying government and related securities, especially with the yield curve so
steep and the Fed ensuring that it has no intention of taking the 'carry' away for
a long, long time. (Business Insider)
The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America.
The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace.
So why are we witnessing such fundamental changes? Well, the globalism and "free trade" that our politicians and business leaders insisted would be so good for us have had some rather nasty side effects. It turns out that they didn't tell us that the "global economy" would mean that middle class American workers would eventually have to directly compete for jobs with people on the other side of the world where there is no minimum wage and very few regulations. The big global corporations have greatly benefited by exploiting third world labor pools over the last several decades, but middle class American workers have increasingly found things to be very tough.
Here are the statistics to prove it... (Business Insider)
Obama faces growing credibility crisis Robert Gibbs, Barack Obama’s chief spokesman, got into hot water this week for daring to speak the truth – that the Democrats could lose control of the House of Representatives in November. But it could be even worse than that.
Contrary to pretty much every projection until now, Democratic control of the Senate is also starting to coming into question. While Mr Obama’s approval ratings have continued to fall, and now hover at dangerously close to 40 per cent according an ABC-Washington Post poll published on Tuesday, the fate of his former colleagues in the Senate looks even worse.
“The bottom line here is that Americans don’t believe in President Obama’s leadership,” says Rob Shapiro, another former Clinton official and a supporter of Mr Obama. “He has to find some way between now and November of demonstrating that he is a leader who can command confidence and, short of a 9/11 event or an Oklahoma City bombing, I can’t think of how he could do that.”
In private, informal advisors to Mr Obama are almost as negative. According to one, the US public’s loss of confidence in Mr Obama’s leadership is a factor above and beyond their dissatisfaction over the state of the real economy, which continues to slow as last year’s $787bn stimulus starts to run dry. The adviser, who asked to remain anonymous, said the public did not know what Mr Obama really believed. Examples include his lukewarm support last year for a public option in the healthcare bill and his equally lukewarm support today for a Senate bill that would extend unemployment insurance and aid state governments to keep teachers in their jobs. (Financial Times)
Racine: Economy, health care top Vt. issues Doug Racine says he's ready to fight this year, eight years after a losing effort to become governor. The 57-year-old state senator, former lieutenant governor and car dealership co-owner from Richmond is well known for trying to push Vermont closer to universal health care. He shares with his fellow liberal Democrats a desire to see the Vermont Yankee nuclear plant close when its license expires in 2012. He wants to focus the state's economic development efforts on small businesses.
What worried supporters when Racine moved to join what's now a five-way race for the Democratic gubernatorial nomination was whether he was tough enough to mount an effective campaign.
He does not share Douglas' opposition to large-scale wind projects on Vermont mountaintops. "I think there's a place for that," he said. (Bloomberg)
Bank Run in Spain and Its Destabilizing Ramifications for the Entire EU Spanish banks are borrowing record amounts from the European Central Bank.
According to FT, Spanish banks borrowed €85.6bn ($105.7bn) from the ECB last month. This was double the amount lent to them before the collapse of Lehman Brothers in September 2008 and 16.5 per cent of net eurozone loans offered by the central bank. (Economic Policy Journal)
Mexico To Limit US Dollar Cash Transactions To Combat Crime Mexico's Finance Minister Ernesto Cordero said Tuesday the government will seek to limit cash transactions in U.S. dollars as an anti-money laundering measure aimed at fighting organized crime. Mexico receives more than $10 billion a year in suspicious dollar flows, Cordero said at a press conference. The new rules, some of which will take effect during the next 90 days, will limit dollar bank deposits, the payment of loans and services, as well as foreign exchange transactions to between $1,500 and $7,000 a month, depending on the profile of the client, he said. (Wall Street Journal)
Data Show Big Exposure for Banks in Euro Zone French and German banks continued to hold the greatest exposure to euro-zone countries facing market pressures at the end of last year, underscoring their interest in restoring investor confidence in the region.
Data released Sunday by the Bank for International Settlements showed that banks based in the 16 countries that use the euro accounted for $1.58 trillion, or 62%, of all internationally active banks' exposures to residents of Greece, Ireland, Portugal and Spain.
That included $727 billion of exposure to Spain, $402 billion to Ireland, $244 billion to Portugal and $206 billion to Greece, with about half of the Greek ... (Wall Street Journal)
Bill Gates will talk about energy and how to combat poverty in Bilderberg Club In a press conference in CosmoCaixa, after canceling a conference on the importance of investing in developing the first public event of the Global Health Institute (ISGlobal), Gates admitted that for the first time participate in this meeting, which was born in 1954 in Holland in the context of a meeting of European leaders and U.S. willing to build bridges on both sides of the Atlantic. (20 Minutos)
Secretive Bilderberg Club brings decision-makers to talks in Spain Secrecy surrounded the guest list, but press leaks mentioned such names as former US Federal Reserve chairman and current presidential advisor Paul Volcker, Austrian President Heinz Fischer, European Competition Commissioner Joaquin Almunia and Microsoft founder Bill Gates. (Earth Times)
Iran 'restricting euro transactions' As the stagnant European economy weighs heavily on the euro forcing it into a downward spiral, the Central Bank of Iran (CBI) unveils a major plan for converting 45 billion of its euro reserves into dollar and gold ingots. (Press TV)
That was taken by many as relating to Germany's unpopular mission in Afghanistan, although his office later said that he was referring to anti-piracy patrols off the coast of Somalia. Germans are often uneasy about deployments abroad, given the country's militaristic past, and the mission in Afghanistan makes many particularly uncomfortable. (Associated Press)
Greece urged to give up euro THE Greek government has been advised by British economists to leave the euro and default on its €300 billion (£255 billion) debt to save its economy. The Centre for Economics and Business Research (CEBR), a London-based consultancy, has warned Greek ministers they will be unable to escape their debt trap without devaluing their own currency to boost exports. The only way this can happen is if Greece returns to its own currency. (London Times)
Argentina’s former president: Bush once claimed, ‘the best way to revitalize the economy is war’ "We had a discussion in Monterrey. I said that a solution for the problems right now, I told Bush, is a Marshall Plan," he claimed to have suggested. "And he got angry. He said the Marshall Plan is a crazy idea of the Democrats. He said the best way to revitalize the economy is war, and that the United States has grown stronger with war." Asked to clarify, Kirchner added: "He said that. Those were his exact words." (The Raw Story)
Is Europe heading for a meltdown? This financial crisis is worse than the sub-prime crash of 2008 because the sums are so much bigger and it is governments that are in dire straits. Edmund Conway explains the dangers. (London Telegraph)
Alan Grayson On The Passage Of The Partial "Audit The Fed" Amendment But our work isn't quite done. The Senate audit provision isn't as strong as what we passed in the House. The Senate provision has only a one-time audit, whereas what we passed in the House would allow audits going forward. There will be a conference committee that will merge the provisions from the two bills. (Zero Hedge)
Bailout Is ‘Nail in the Coffin’ for Euro, Rogers Says "I was stunned," Rogers, chairman of Rogers Holdings, said in a Bloomberg Television interview in Singapore. "This means that they’ve given up on the euro, they don’t particularly care if they have a sound currency, you have all these countries spending money they don’t have and it’s now going to continue." (Bloomberg)
Audit the Fed Amendment Modified – Allows Fed To Keep Secrets Ron Paul: “Bernie Sanders has sold out and sided with Chris Dodd to gut Audit the Fed in the Senate. His “compromise” is what the Administration and banking interests want: they’ll allow the TARP and TALF to be audited, but no transparency of the FOMC, discount window operations or agreement with foreign central banks. We need to take action and stop this!” (Ron Paul)
A List of Goldman Sachs People in the Obama Government: Names Attached to the Giant Squid’s Tentacles Here you will find, I believe, the most comprehensive list of people-groups yet available to show how Obama’s administration has really become the Goldman Sachs administration. The Obama administration is not the first administration that Goldman has infiltrated, although it is perhaps the one that has been most completely co-opted from top to bottom. (Fire Dog Lake)
Economists: The stimulus didn't help In latest quarterly survey by the National Association for Business Economics, the index that measures employment showed job growth for the first time in two years -- but a majority of respondents felt the fiscal stimulus had no impact. (CNN)
It was an unexpected crisis -- largely unexpected in its dimension and in its global nature -- even if it was clear that a number of academics; a number of central banks, I have to say; and also, a number of at his own institution very, very clearly -- the BIS -- had signaled that we were living in a world of general under appreciation of risks in the financial markets. And I have to say I was, myself, on record for having said that quite a time before the first turbulences erupted. But that being said, what we have observed is really something which was very big -- bigger than was expected. And with a number of features that were really also unique.
“A set of rules, institutions, informal groupings and cooperation mechanisms that we call “global governance”. (Council on Foreign Relations)
US prepares to push for global capital rules The G20 communiqué on Friday said: “We recommitted to developing by end-2010 internationally agreed rules to improve both the quantity and quality of bank capital and to discourage excessive leverage.” (Financial Times)
Goldman Donations to Obama Campaign Totaled Nearly $1 Million Obama received the money from employees and their family members, making Goldman Sachs second only to the University of California as his biggest single source for donors in 2007 and 2008, according to the Center for Responsive Politics.
Wall Street provided three of Obama’s seven biggest sources of contributors for his presidential bid. In 2007 and 2008, Goldman Sachs employees and family members gave him $994,795, Citigroup Inc. $701,290, and JPMorgan Chase & Co. $695,132. (Bloomberg)
Goldman Sachs: Master of the Universe The status applies to all Wall Street giants, none, however, the equal of Goldman, the Grand Master. Like the fabled comic book Superman hero, it's: * faster than its competitors, thanks to its proprietary software ability to front run markets (illegal, but no matter); * more powerful than the government it controls; and * able to leap past competitors, given its special status. (Baltimore Chronicle)
Goldman Sachs set to pay £3.5bn in bonuses Royal Bank of Scotland, which is 84% owned by the UK taxpayer, appears to have been one of the biggest losers from the alleged fraud. The bank is this weekend considering legal action against Goldman. The charges relate to a mortgage bond issued by the bank. The American regulators claim Goldman designed the bond so it would drop in value. Goldman Sachs last year paid £10 billion in bonuses. (London Times)
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)
Citigroup Warns Customers It May Refuse To Allow Withdrawals "Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country. (Business Insider)
Citigroup Stock Proving Irresistible to Hedge Funds “The sum of the parts is worth less than each individual part,” said Garnick. “It is easier for investors to assign value to a company if it is broken up into its many component parts. In this market environment people are starting to reward single business unit companies.” (Bloomberg)
Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies. (News.au.com)
Geithner: 'I had no role' in an AIG cover up Treasury Secretary Timothy Geithner told lawmakers Wednesday that he had no involvement in an apparent attempt by government regulators to withhold crucial information about AIG's bailout from the public.
"I had no role in making decisions regarding what to disclose," Geithner testified at a hearing held by the House Oversight Committee Wednesday.
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AIG payouts: Who got what
Counterparties that got more than $1 billion from the government and AIG.
AIG counterparty Total payment
Societe Generale $16.5 billion
Goldman Sachs $14 billion
Deutsche Bank $8.5 billion
Merrill Lynch $6.2 billion
Calyon $4.3 billion
UBS $3.8 billion
Deutsche Zentral Genossenschaftsbank $1.8 billion
Barclays $1.5 billion
Bank of Montreal $1.4 billion
Royal Bank of Scotland $1.1 billion
Wachovia $1 billion
Source:Special Inspector General for the Troubled Asset Relief Program.
New York Fed officials instructed AIG (AIG, Fortune 500) not to disclose more than a dozen controversial transactions to the Securities and Exchange Commission in November 2008. At the time, Geithner was the president of the New York Fed, but he said he had recused himself from the day-to-day operations at that time because of his nomination to be Treasury secretary.
At least two lawmakers weren't buying Geithner's denial.
"Why shouldn't we ask for your resignation?" Mica asked Geithner. "We're not getting the whole story, we're getting the blame story. You're either incompetent on the job or you knew what was taking place and you tried to conceal it, and I think that's grounds for your review."
Geithner angrily responded to Mica, "You don't know me very well."
He then more calmly said, "That is your right to have that opinion. I have served my country as carefully and ably as I can."
AIG's bailout has incited furor among lawmakers and the public, as the troubled insurer has come to symbolize the corporate greed, risky behavior and lack of regulation that many believe caused the Great Recession.
The issue at hand on Wednesday was one of the bailout's most contentious: a decision by the New York Fed to pay counterparties 100 cents on the dollar for the underlying assets that AIG has insured through so-called credit default swap agreements.
As a result, $62.1 billion of taxpayer and AIG funds were essentially funneled to 16 banks that were counterparties to AIG insurance contracts.
Due to many New York Fed employees' ties to Wall Street investment banks -- including Geithner -- many lawmakers and members of the public have implied that the regulator's decisions may have been made for personal gain.
"I think your commitment to Goldman Sachs trumped your commitment to the American people," said Rep. Steven Lynch, D-Mass. (CNN)
Darrell Issa's Special Report On AIG Could Be The End Of Geithner GEITHNER’S ROLE IN THE AIG COVER UP REMAINS UNCLEAR
When asked directly if he was involved in the efforts by the FRBNY to prevent disclosure of the AIG counterparty payments, Secretary Geithner responded, “I wasn’t involved in that decision.” On January 8, 2010, FRBNY General Counsel Thomas Baxter wrote Ranking Member Issa to clarify the role of then-President Geithner:
[M]atters relating to AIG securities law disclosures were not brought to the attention of Mr. Geithner …. In my judgment as the New York Fed’s chief legal officer, disclosure matters of this nature did not warrant the attention of the president.
Mr. Baxter reiterated this claim in an interview with Committee staff. Questions of securities disclosure, Baxter said, were “legal stuff,” and Baxter did not bring legal stuff to the attention of then-President Geithner. However, Baxter said that “on significant policy issues, of course I would go” to Geithner.
However, documents received by the Committee suggest that Secretary Geithner was, at a minimum, engaged personally in reviewing what information about the AIG bailout would be revealed to Congress and the public. On November 6, 2008, SarahDahlgren, the FRBNY’s lead staff member in AIG’s operations, e-mailed Geithner with a proposed statement regarding AIG’s upcoming equity capital raise for Geithner’s approval:
[I]n terms of saying something publicly about our intentions, we … think that saying something that conveys the following … makes sense:
It is our (Federal Reserve/Treasury) continued intention to put the company in a sound capital position and exit the facility/preferred securities/common stock ownership as soon as practicable…
[I]f you are good with this, …we would also make sure that the company sticks to this line (echo)…. [emphasis added]
On November 13, 2008, Geithner received a report on AIG’s restructuring that would be sent to Congress, which Geithner had asked to personally review. Sophia Allison, a staff member of the Federal Reserve’s Board of Governors, e-mailed the draft congressional report to several Federal Reserve staff:
Attached is a draft Congressional report for the restructuring package for AIG announced on Monday, November 10. …I tried to take everything in the report from publicly available documents, such as press releases, the prior AIG Congressional Report, and AIG’s most recent 10-Q. If there is anything in the report that you believe should not be publicly disclosed, please specifically point that out. [emphasis added]
Michael Nelson, a staff member of the FRBNY, forwarded Allison’s email to Geithner with the following message:
Tim – this is the draft EESA-required filing on AIG that the Board owes the Hill, as you requested. [emphasis added]
In addition, Secretary Geithner’s meeting logs from his tenure as President of the FRBNY show that he was regularly engaged with top AIG officials and the FRBNY officials directly responsible for AIG’s disclosures to the SEC. Geithner’s schedule shows that he had at least six formal meetings with top FRBNY staff members about AIG-related issues between November 4, 2008, and November 21, 2008. It is unclear whether AIG’s disclosure obligations were discussed in these meetings.
At a minimum, the cover-up of the details about AIG’s counterparty payments began on Secretary Geithner’s watch, and the culture of the FRBNY in which this behavior occurred reflected his leadership. Secretary Geithner needs to explain his role in the cover-up, and if he thinks the behavior of his staff at the FRBNY was appropriate.
GEITHNER’S CLAIMS RAISE QUESTIONS ABOUT PURPOSE OF AIG BAILOUT
Secretary Geithner’s claim to SIGTARP that the backdoor bailout of AIG’s counterparties had nothing to do with the health of AIG’s counterparties also raises questions about why AIG was bailed out in the first place. As the Wall Street Journal notes:
[I]f Mr. Geithner now says the AIG bailout wasn’t driven by a need to rescue CDS counterparties, then what was the point? Why pay Goldman [Sachs] and even foreign banks like Societe Generale billions of tax dollars to make them whole?
Secretary Geithner now claims that the point of AIG’s bailout was to protect AIG’s insurance policy holders:
AIG was providing a range of insurance products to households across the country. And if AIG had defaulted, you would have seen a downgrade leading to the liquidation and failure of a set of insurance contracts that touched Americans across this country and, of course, savers around the world.
However, as the Wall Street Journal further explains:
Yet, if there is one thing that all observers seemed to agree on last year, it was that AIG’s money to pay policyholders was segregated and safe inside the regulated insurance subsidiaries. If the real systemic danger was the condition of these highly regulated subsidiaries – where there was no CDS trading – then the Beltway narrative implodes.
Secretary Geithner’s inconsistent statements and apparent contradictions raise important questions about the decision to not only funnel billions of taxpayer dollars to AIG’s counterparties, but also the decision to bail out AIG itself.
The FRBNY and its attorneys at Davis Polk interfered with AIG’s securities disclosures in several ways. They edited AIG’s SEC filings in ways that made it more difficult for investors and the public to understand the ML3 transactions. They contacted the SEC directly and pressured it to treat AIG’s filings differently from other companies’ filings. In addition, they appear to have forced AIG to cancel a compensation-related filing that it was required to make. The FRBNY’s edits of AIG’s filings and the FRBNY’s pressure on the SEC were intended to serve the Fed’s interests by obscuring embarrassing details about the FRBNY’s backdoor bailout of AIG’s counterparties. Investors cannot be protected by a disclosure system that only requires full transparency when the Federal Reserve’s embarrassment is not at stake. The special SEC procedures established via FRBNY pressure also demonstrate that bailouts lead to enforced favoritism.
Finally, the secrecy, concealment, and lack of transparency in the conduct of the Federal Reserve have serious implications for the continued health of democracy and free markets. The Federal Reserve’s payment of par to AIG’s counterparties and the subsequent cover-up of information about these payments raise concerns about the accountability of the unelected bureaucrats within the Federal Reserve System. The fact that a quasi-government agency, unaccountable to the American people, likely wasted billions of taxpayer dollars and went to great lengths to prevent Congress and the American people from learning about these actions demonstrates the threat that the Federal Reserve poses to basic principles of American democracy. (quotes selected by Zero Hedge) (US House of Representatives)
Hedge Funds Hold Investors ‘Hostage’ After Rebound "We don’t object to the illiquidity," Papastavrou said in an interview. "We object to how some managers are abusing the situation and holding investors’ money hostage to generate fees." (Bloomberg)
keywords: Angeles Investment Advisors, Aris Capital Management, Bernheim Dreyfus & CO, Cadogan Management, Chicago, Credit Suisse, D E Shaw & CO, Financial Crisis, Goldman Sachs, Harbinger Capital Partners, Hedge Funds, Highland Capital Management, Jason Papastavrou, John Trammell, Michael Huttman, Millennium Global Investments, Polygon Investment Partners, Tremont Capital Management, United States
1/5/2010
Stimulus to bring body scanners to airports The U.S. government is using $25 million in stimulus money to buy and install full body scanners in airports this year, in an effort to ramp up security and create jobs. (CNN)
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)
Geithner: Auditing the Fed is a "line that we don't want to cross" In an interview released today by Digg and the Wall Street Journal, Treasury Secretary Timothy Geithner was pressured about the growing popular movement to Audit the Fed spearheaded by Texas Congressman Ron Paul. A visibly uncomfortable Geithner attempts to dismiss the question by stating "I'm sure people understand that you want to keep politics out of monetary policy." (The Corbett Report)
Larry Flynt: Common Sense 2009 The American government -- which we once called our government -- has been taken over by Wall Street, the mega-corporations and the super-rich (Huffington Post)
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