This week, the US may be forced to default on its $16.8 trillion debt if a deal to raise the ceiling is not struck. And some US legislators are acting “irrationally” enough to indeed allow it to happen, Professor Jeffrey Sommers told RT.
If the US defaults on its debt, the entire global economy could be hit, IMF chief Christine Lagarde warned over the weekend. “We would be at risk of tipping, yet again, into recession.”
Posted onJune 16, 2012bylucas2012infos|Comments Off on Matt Taibbi – Senators Grovel, Embarrass Themselves At Dimon Hearing – 16 June 2012
I was unable to watch J.P. Morgan Chase CEO Jamie Dimon’s Senate testimony live the other day, so I had to get up yesterday morning and check it out on the Banking Committee’s web site. I had an inkling, from the generally slavish news reports about the hearing that started to come out Wednesday night, that it would be a hard thing to watch. Continue reading →
Comments Off on Matt Taibbi – Senators Grovel, Embarrass Themselves At Dimon Hearing – 16 June 2012
Posted onMarch 22, 2012bylucas2012infos|Comments Off on Ellen Brown – The Shadow Bailout : How Big Banks Bilk US Towns And Taxpayers – 22 March 2012
Wall Street Confidence Trick: The Interest Rate Swaps that Are Bankrupting Local Governments
The “toxic culture of greed” on Wall Street was highlighted again last week, when Greg Smith went public with his resignation from Goldman Sachs in a scathing oped published in the New York Times. In other recent eyebrow-raisers, LIBOR rates—the benchmark interest rates involved in interest rate swaps—were shown to be manipulated by the banks that would have to pay up; and the objectivity of the ISDA (International Swaps and Derivatives Association) was called into question, when a 50% haircut for creditors was not declared a “default” requiring counterparties to pay on credit default swaps on Greek sovereign debt.
Posted onMarch 20, 2012bylucas2012infos|Comments Off on John Ward – Sketch : Time Running Out For Al-Blankfein As Wall Street Spring Arrives Early – 20 March 2012
al-Blankfein with close ally J’aymee Demon
Internal reforms denounced as ‘window dressing’
Now that it is clear that L’oyd Al-Blankfein’s evil regime at Goldman Syria has the natives in open revolt, I think it’s high time the UN stepped in to boycott the firm’s products. Before fleeing dissident Greg S’mith’s open letter to Nu YorJhatimes, of course, we all knew anyway that Goldman was up to no good. It was bankrolling Greek embezzlers and working with the terrorist organisation Hedgbofund, but the point is that, now weve been told they crap on clients, well….we have no choice but to condemn it. Continue reading →
Comments Off on John Ward – Sketch : Time Running Out For Al-Blankfein As Wall Street Spring Arrives Early – 20 March 2012
(The FBI is investigating suspected criminal insider trading on Wall Street. AFP)
FEDERAL authorities are seeking to build insider trading cases against roughly 120 individuals on and off Wall Street in an expanding criminal insider trading investigation that has shaken the financial and corporate worlds. Continue reading →
Comments Off on FBI Building Insider Trading Cases On 120 People – Herald Sun – 28 February 2012