‘Death of American Capitalism:’ The 10 final scenes

By Paul B. Farrell, MarketWatch ARROYO GRANDE, Calif. (MarketWatch) — Good news, Americans are “downbeat about today. Upbeat about tomorrow,” says the latest USA Today/Gallup Poll. “Americans feel battered by hard times, record home foreclosures, stubbornly high unemployment rates and war.” And yes, we are “fed up with Washington and convinced more than 3 to [...]

Happiness in Slavery – REVOLT OF THE PLEBS

By Keith Johnson Don’t open your eyes You won’t like what you see The blind have been blessed with security Don’t open your eyes Take it from me I have found you can find Happiness in slavery Nine Inch Nails-Happiness in Slavery Think you’re free? Think again, slave! This week the Federal government will attempt [...]

Former Bank of America CEO Ken Lewis Charged with Fraud; It’s Only a Start

Written by: Michael Shedlock On April 24, I wrote Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis. You will be pleased to read Ex-BofA chief Lewis charged with fraud. New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America (BAC) executives, including former company CEO Ken Lewis, [...]

Enough With The Government Cover-Ups

Edward Harrison, 01.12.10, 04:20 PM EST What really happened to AIG and other bankrupt firms. It has come to light recently that American International Group withheld important information about its dealings with financial counterparties in the lead-up to its collapse and bailout by the Federal Reserve. What is most troubling about this episode is that [...]

Is The U.S. Economy Being Tanked By Mistake or By Intent? by Bill Sardi

Is The U.S. Economy Being Tanked By Mistake or By Intent? by Bill Sardi Recently by Bill Sardi: Who Is Left Holding the Bag on US Debt? The government wants Americans to believe the greatest economic collapse in history was the result of ineptness and mistakes yet still have confidence in their financial institutions. Should American bankers be [...]

YAHOO: Preparing for the Worst

by Robert Kiyosak Posted on Monday, August 24, 2009, 12:00AM “Is the crisis over?” is a question I am often asked. “Is the economy coming back?”My reply is, “I don’t think so. I would prepare for the worst.” Like most people, I wish for a better future for all of us. Life is better when people [...]

REUTERS: U.S. banks to make $38 billion from overdraft fees: report

(Reuters) – Banks in the United States are poised to make $38.5 billion in customer overdraft fees this year, the Financial Times said, citing research by Moebs Services. A large portion of the revenue is likely to come from the most financially stretched consumers, according to the paper. It said the research showed that many [...]

Goldman Sachs – THE WORLD’S BIGGEST PONZI SCHEME

Taken from a comment by “Calltoaccount”, which was taken from Institutional Risk Analytics, blogged by www.cjr.org Res Ipsa Loquitor: Here’s the real story that’s been conveniently swept under the rug. From Reuters: QUESTION: Did Goldman do any due diligence on AIG before buying credit default swaps (CDS) from it? ANSWER: “We do extensive due diligence on [...]

H.R. 1207>>AUDIT WILL EXPOSE FED

By Christopher J. Petherick During a hearing on Capitol Hill in early July, a top official at the Federal Reserve warned Congress to stay out of the bankers’ business and not force the privately owned and operated central bank to submit to a public audit. On July 9 The Financial Times reported on Texas Republican [...]

Federal Reserve Bank is financial system’s new “uber-regulator” – USATODAY

Excerpt from USATODAY.com President Obama unveiled a stem-to-stern overhaul of financial industry regulation Wednesday, promising dramatic changes for banks, consumers, hedge funds and even the inner workings of the Federal Reserve. The ambitious proposal is designed to strengthen a ramshackle system of government oversight that failed to either prevent or mitigate the current financial crisis. … The new [...]