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Keyword: banksters

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  • Forward guidance: making it up as you go along

    06/25/2014 5:24:10 PM PDT · by Lorianne
    CNBC ^ | 24 June 2014 | Moorad Choudhry
    The banking industry likes superfluous language. There's "quantitative finance" for example, which (given that finance isalready a quantitative subject) is a bit like saying "aerial flight" or "wet swimming". And then there's "forward guidance". What, as opposed to backward guidance? I mean, what other type of guidance is there? Last summer the Bank of England (BoE) decided it wanted to import the U.S. Federal Reserve's forward guidance policy. In short this went along the lines of "we'll link future moves in the base rate to other external market indicators, so that as these other indicators move then so will base...
  • Benghazi: Op Zero Footprint – US & Allies Freak Over Gaddafi Demand for Gold for Oil – End Is Near

    05/05/2014 2:52:58 PM PDT · by combat_boots · 11 replies
    Maggie's Notebook ^ | 5/3/2014 | Maggie
    In March 2011, Reuters announced a secret order signed by Barack Obama to provide covert support for Libyan rebel forces. The operation became known as Zero Footprint, but after Obama finished with it, Big Foot was identified. For about 18 months before the attacks on our Benghazi Special Mission, intelligence had successfully identified terrorist factions inside the rebel factions. Those terrorists included the Muslim Brotherhood as well as al-Qaeda. Nevertheless, Senator John McCain said the rebels were his heroes. Qadhafi made a fatal mistake, literally, by working toward one currency for Africa, which threatened the West. The idea of a...
  • Suspicious Deaths Of Bankers Are Now Classified As "Trade Secrets" By Federal Regulator

    04/29/2014 6:04:12 AM PDT · by Renfield · 20 replies
    Zero Hedge ^ | 4-28-2014 | Pam Martens and Russ Martens
    It doesn’t get any more Orwellian than this: Wall Street mega banks crash the U.S. financial system in 2008. Hundreds of thousands of financial industry workers lose their jobs. Then, beginning late last year, a rash of suspicious deaths start to occur among current and former bank employees.  Next we learn that four of the Wall Street mega banks likely hold over $680 billion face amount of life insurance on their workers, payable to the banks, not the families. We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and we’re...
  • Why the EU is Not Your Father's Europe

    04/18/2014 11:23:49 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | April 18, 2014 | Diana West
    The important-sounding Foreign Affairs Council of the European Union has recently reiterated "its strong support for Ukraine's unity, sovereignty, independence and territorial integrity." Poor, destabilized, post-putsch Ukraine is to be congratulated for receiving something none of the 28 countries that actually belongs to the EU ever does: support for its sovereignty, independence and territorial integrity. ("Unity" is a more complicated matter, given the EU's reflexive pox on separatist movements that might prefigure the breakup of the EU itself.) As the world's pre-eminent transnational entity since the breakup of the USSR, the EU is all about eradicating its members' sovereignty,...
  • US Pays Half Of Gazprom's Overdue Invoice With $1 Billion Ukraine Loan Guarantee

    04/14/2014 8:00:00 AM PDT · by tcrlaf · 43 replies
    Zerohedge ^ | 3-14-2014 | Tyler Durden
    With Ukraine no longer paying for Russian gaz, and with Gazprom making it clear Kiev has to a) first pay the overdue $2+ billion in invoice and then b) prepay some $5 billion in gas until the end of the year of Europe gets it, it was only a matter of time before the US Treasury stepped in and paid off part or all of Gazprom's demands. That time is now, when moments ago Jack Lew announced a $1 billion loan guarantee for Ukraine - very much the same way that the US provided billions in loan guarnatees for the...
  • Sharyl Attkisson: When I'd Begin Getting Under Surface of an Obama Scandal, CBS Would Pull Me Off

    04/11/2014 10:54:34 AM PDT · by Red Badger · 14 replies
    www.truthrevolt.org ^ | 4.11.2014 | Jeff Dunetz
    "There is unprecedented, I believe, influence on the media, not just the news, but the images you see everywhere. By well-orchestrated and financed campaign of special interests, political interests and corporations. I think all of that comes into play" One month ago. long-time investigative reporter Sharyl Attkisson left CBS amid rumors that she had grown frustrated with the network stifling her investigations. Thursday night on Bill O' Reilly's Fox News program she confirmed those rumors. "There is unprecedented, I believe, influence on the media, not just the news, but the images you see everywhere. By well-orchestrated and financed campaign of...
  • Russia Claims American Mercenaries Are in Eastern Ukraine

    04/08/2014 4:06:49 PM PDT · by markomalley · 24 replies
    NBC News ^ | 4/8/2014
    Russia claimed Tuesday that 150 specialists from an American private military group are in eastern Ukraine, the region where pro-Russia protesters are clashing with government forces. A woman who identified herself as an employee of the group, the security contracting company Greystone, declined comment. She also declined to provide her name. Greystone, on its website, identifies itself as a “provider of aviation and protective support services and training” formerly part of Xe Services, the security contracting company once known as Blackwater. A statement from the Russian Foreign Ministry said that the Americans were wearing the uniforms of Sokol, a Ukrainian...
  • Holder Threatens Louie Gohmert During Hearing

    04/08/2014 9:42:43 AM PDT · by ConservativeMan55 · 101 replies
    Gohmert threatens to contempt for AG Holder. Holder snaps “you don’t want to go there." Gohmert: “I don’t need lectures from you” Holder is testifying at a House hearing on Oversight at the DOJ. Watch live below.. http://nation.foxnews.com/2014/04/08/watch-live-eric-holder-testifies-house-hearing-oversight-doj
  • The ONE Revelation About HFT Programs That Truly Scares Bankers (It's Not Stock Market Rigging)

    04/08/2014 8:09:28 AM PDT · by Errant · 5 replies
    Zero Hedge ^ | 8 April 2014 | smartknowledgeu
    Last week, the big story was how bankers use HFT (High Frequency Trading) algorithmic software not only to rig markets but also to commit theft on a daily basis (Frontrunning, like Quantitative Easing, is just fancy Wall Street lingo to disguise its true meaning of theft). Though many in the public blogosphere expressed shock that stock markets are rigged and that regulators like the Securities Exchange Commission willingly allow this theft to occur, the only thing shocking about this story was how long it took this story to reach the mainstream and that people were crediting Michael Lewis with uncovering...
  • Obamacare Shows America Suffers From A President Dangerously Disconnected From Reality

    04/04/2014 9:32:49 AM PDT · by Jim Robinson · 21 replies
    Forbes ^ | April 4, 2014 | Peter Ferrara Contributor
    The population of the U.S. is 314 million. On the day Obamacare was passed, the estimate of the uninsured was 60 million. So in this context, the supposed 7 million Americans signed up for insurance on the Obamacare Exchanges, even if that is a valid number, and all of those have actually started paying premiums, both of which are highly dubious, does not mean any significant success for Obamacare. That is especially so since at least 6 million Americans have lost their health insurance due to Obamacare, so far, with more to come once the illegally and arbitrarily delayed employer...
  • Yushchenko, hero of Ukraine’s Orange Revolution warns Europe that Putin won’t stop at Crimea

    03/28/2014 6:34:25 AM PDT · by afraidfortherepublic · 17 replies
    McClatchy DC ^ | 3-27-14 | Mathew Schofield
    KIEV, Ukraine — To Viktor Yushchenko, the man at the heart of Ukraine’s Orange Revolution a decade ago, March 2014 looks a lot like August 1939. Europe, once again, is at war. But Europe is also, once again, refusing to realize it and react. Yushchenko, the former Ukrainian president who has spent much of his political life at odds with Russian President Vladimir Putin, and incurred his wrath, says there should not be any doubt about what is going on: Putin’s Russia has been waging economic and information war on his country for years. It has now added a territorial...
  • Bitcoin Price Drops After New Chinese Bank Rumours

    03/27/2014 8:03:34 AM PDT · by Errant · 5 replies
    Coin Desk ^ | 27 March 2014 | Jon Southurst
    Less than a week after a fake Chinese news report sent bitcoin and litecoin prices plummeting on some exchanges, another similar rumour hit the Internet today. News that the Chinese government would penalize any bank transacting with bitcoin exchanges after 15th April started to break around mid-morning China time on Thursday 27th March. This time, it was reported as fact by a number of news services. The bitcoin price, already on a downward trend, dropped to a low of $561.61 on CoinDesk’s BPI and below the $550 mark on Chinese exchanges. The latest report gave all the usual reasons a...
  • Ted Cruz Leads GOP's Fight Against IMF Expansion in Ukraine Aid Package

    03/24/2014 1:43:33 PM PDT · by SoConPubbie · 5 replies
    Heritage "The Foundry" ^ | March 22, 2014 at 3:51 pm | Rob Bluey
    Senate Majority Leader Harry Reid (D–Nev.) is facing a revolt among Republicans for adding controversial language to an aid package for Ukraine.The Senate is expected to vote on the Ukraine measure next week. The controversial provisions, which have support of the Obama administration and liberals from both parties, would increase U.S. financial support to the International Monetary Fund.A growing number of Republicans warn that attaching the IMF language would reduce U.S. power while expanding Russia’s influence on the global stage in the wake of its annexation of Crimea.>>> Q&A: Why Do Conservatives Oppose the IMF Reform Package?Yesterday, Sen. Ted Cruz...
  • Bank of England Drops a Bombshell on Parliament: It Shredded Its Crisis Era Records

    03/12/2014 2:27:13 PM PDT · by Errant · 7 replies
    Wall Street on Parade ^ | 12 March 2014 | Pam Martens
    Mark Carney, the head of the Bank of England, and other officials from the BOE were put through a five hour marathon of questioning yesterday by Parliament’s Treasury Select Committee covering everything from how long the BOE plans to continue Quantitative Easing (QE), to the potential for Scotland to vote for its independence, to what it knew and when it knew it about the rigging of the Foreign Exchange market by colluding global banks. The bombshell of the day, however, did not occur during the session on the Foreign Exchange scandal, which is stacking up to be a more serious...
  • As Bank Deaths Continue to Shock, Documents Reveal JPMorgan Has Been Patenting Death Derivatives

    03/06/2014 11:25:59 AM PST · by Renfield · 13 replies
    Wall Street On Parade ^ | 2-17-2014 | Pam Martens and Russ Martens
    The probability of two vibrant young men in their 30s who are employed by the same global bank but separated by an ocean dying within six days of each other is remote. And few companies are in as good a position to understand just how remote as is JPMorgan: since 2010, it has received four patents on quantifying longevity risks and structuring wagers via death derivatives. The two deaths at JPMorgan remain unexplained. Gabriel Magee, a 39-year old technology Vice President was found dead on the 9th level rooftop of JPMorgan’s European headquarters at 25 Bank Street in the Canary...
  • Another Sudden Death of JPMorgan Worker: 34-Year Old Jason Alan Salais

    03/05/2014 7:33:13 AM PST · by Renfield · 37 replies
    Wall Street On Parade ^ | 2-23-2014 | Pam Martens and Russ Martens
    On the evening of Sunday, December 15 of last year, six weeks before the onset of the latest rash of tragic deaths of young men in their 30s employed at JPMorgan, the Pearland, Texas police received a call of a person in distress outside a Walgreens pharmacy at 6122 Broadway in Pearland. The individual in distress was Jason Alan Salais, a 34-year old Information Technology specialist who had worked at JPMorgan Chase since May 2008. A family member confirmed to Wall Street On Parade that Salais died of a heart attack on the same evening the report of distress went...
  • Citizens of Iceland Overthrow Government Over Bank Fraud

    12/11/2013 9:01:11 PM PST · by Tolerance Sucks Rocks · 34 replies
    Last Resistance ^ | December 10, 2013 | Michael Minkoff
    Consider a country where banking interests balloon debt by lending to people who cannot possibly pay back their loans. These toxic assets then threaten to destroy the national economy. Banking interests plead with the civil government to rescue them for the sake of the economy. The civil government bails them out with taxpayer money. Sound familiar? Well, that’s where the similarities end between the banking crisis in Iceland which began in 2008, and the banking crisis that occurred in the States a year earlier.Taxpayers in Iceland didn’t just sit back and allow the bail out. They thronged the streets banging...
  • IMF Proposing 10% Supertax Bail-in On All Eurozone Household Savings

    10/14/2013 8:49:02 PM PDT · by Vince Ferrer · 22 replies
    IMF ^ | October 2013 | IMF
    The sharp deterioration of the public finances in many countries has revived interest in a "capital levy" -- a one off tax on private wealth -- as an exceptional measure to restore debt sustainability. The appeal is that such a tax, if it is implemented before avoidance is possible and there is a belief that it will never be repeated, does not distort behavior (and may be seen by some as fair). There have been illustrious supporters, including Pigou, Ricardo, Schumpeter, and, until he changed his mind - Keynes. The conditions for success are strong, but also need to be...
  • American Consumer Culture = Debt Slavery

    10/14/2013 1:45:57 PM PDT · by Noremac · 15 replies
    Blasted Fools.com ^ | October 14, 2013 | Richard Cameron
    American Consumer Culture = Debt Slavery A lot of concern – well founded, in my opinion, centers around the skyrocketing growth of our national debt. To everyone with a solid grounding in economics and history, this is a dark, ominous cloud hanging over America. I’ve noted that our grandchildren will despise us for bequeathing to them a collective burden of taxation and stifled economic growth that will be theirs from birth. But there’s an equally fearful debt problem that doesn’t attract nearly as much attention, even among conservatives. That’s our consumer spending culture driving the accumulation of personal debt. How...
  • Obama Demands $1.1 Trillion Ransom--or He Will Crash Global Economy

    10/14/2013 11:13:26 AM PDT · by bestintxas · 29 replies
    breitbart ^ | 10/14/13 | j pollock
    President Barack Obama is demanding a $1.1 trillion "ransom"--or else he will not allow the debt ceiling to be raised. That's the effective offer on the table from the president and Senate Democrats. They have now refused to pass a "clean" short-term debt ceiling hike unless Republicans agree to reverse the "sequester" spending cuts in the 2011 Budget Control Act that were enacted--at Obama's suggestion--to end the last debt ceiling crisis. The president, who has invited congressional leaders to conduct talks at the White House Monday afternoon, still continues to insist that he "will not pay a ransom for Congress...
  • IMF CHIEF: U.S. DANCE WITH THE DEBT LIMIT IS VERY, VERY CONCERNING

    10/14/2013 4:39:16 AM PDT · by SatinDoll · 21 replies
    The Washington Times ^ | October 13, 2013 | Tom Howell Jr.
    The chief of the International Monetary Fund [IMF] says the U.S. government’s stalemate over spending and its debt limit is “very, very concerning” and could roll back economic progress around the world. Christine Lagarde, who took over the financial watchdog-and-rescue organization in 2011, said global finance ministers assembled for meetings in Washington last week feeling like Japan had finally turned the corner and that economies in the U.S. and Europe were on the upswing. “And then they found out that the debt ceiling was the issue,” she said Sunday on NBC’s “Meet the Press.” “They found out that the government...
  • George Soros: 'Greece Can Never Pay Back Its Debt'

    10/07/2013 9:52:31 AM PDT · by DeaconBenjamin · 38 replies
    Spiegel.de ^ | October 07, 2013 – 04:02 PM | By Gregor Peter Schmitz in Brussels
    Legendary investor George Soros called for comprehensive debt relief for Greece. "Everyone knows that it can never pay back its debt." Greece is close to a primary budget surplus after a lot of pain and suffering, says Soros, whose speculation against the pound forced the UK to withdraw from the Exchange Rate Mechanism in 1992. "If the official sector could forgo repayment as long as Greece meets the conditions imposed by the troika [of the International Monetary Fund (IMF), European Central Bank (ECB) and European Commission]," Soros added, "private capital would return and Greece could rapidly recover. I can testify...
  • Sessions: Obamacare Built On An Accounting Fraud

    10/06/2013 9:19:54 AM PDT · by Whenifhow · 12 replies
    http://www.youtube.com/ ^ | October 4, 2013 | SenatorSessions
    Senator Schumer and many of our Democratic colleagues have been conducting a sustained and direct attack on the millions of people who supported and identified with the Tea Party movement. Make no mistake about it they don’t respect the people in the Tea Party movement they demean them in every way and virtually every day in this body. And everybody that is part of that movement, because they believed in America, they thought this US congress has gone lunatic in spending their country into bankruptcy. And passing Obamacare over the overwhelming objection of the American people and they did it...
  • Mark Levin Warns: Obama is Planning to Raise the Debt Limit Unilaterally

    (I'm paraphrasing, so I highly recommend listening to the podcast, beginning about half-way through.) In his 10/3/13 broadcast, Mark warns that, based upon Obama's inflammatory rhetoric regarding the debt ceiling, and the supposedly impending "default" on our debt, that Obama plans on acting unilaterally to over-spend the debt limit. Mark correlates a couple of facts. The first is that Obama is harping on "default." Most pundits are reading this as a means of "talking down" the economy, in order to blame the "Republican shutdown" for a weakening economy. But Mark believes that Obama is laying the groundwork for overspending the...
  • New: Obama Has WWII Memorial Barrycades Wired Together

    10/04/2013 7:08:29 AM PDT · by kristinn · 415 replies
    The Weekly Standard via Twitter ^ | Thursday, October 4, 2013 | John McCormack
    Day 4 of shutdown: Vets are going to need wire cutters to visit WWII memorial.The fences/barricades were not wired shut when I was here on Tuesday.
  • Lew Op-Ed: U.S. Failure to Pay Bills Hurts Everyone

    10/04/2013 7:52:00 AM PDT · by b4its2late · 20 replies
    US Treasury ^ | 10/3/2013 Page Content ​ | US Treasury
    Lew Op-Ed: U.S. Failure to Pay Bills Hurts Everyone 10/3/2013 WASHINGTON – In an op-ed to be published in the October 4, 2013 edition of USA TODAY, Treasury Secretary Jacob J. Lew discusses the importance of Congress raising the debt limit immediately to avoid self-inflicted wounds that could impede economic growth and create uncertainty for families and businesses. The text of the piece follows: U.S. failure to pay bills hurts everyone If Congress does not raise the debt limit soon, seniors, veterans, kids, among others, are at risk. By Jack Lew It might be hard to believe, but there is...
  • Government shutdown: Wall Street angry at tea party it has no influence over

    10/02/2013 1:32:32 PM PDT · by Tailgunner Joe · 30 replies
    politico.com ^ | October 02, 2013 | MJ LEE
    Wall Street is clear about who’s to blame for the government shutdown and a looming debt default: tea party Republicans. What’s less clear is what Wall Street can do about it. The reality is that deep-pocketed financial services executives and their lobbyists have little leverage against tea party lawmakers who don’t much care for financiers or big banks and don’t rely heavily on the industry for campaign cash. “Those are the ones who are most problematic for Boehner,” one D.C.-based lobbyist who represents financial services clients said of tea party lawmakers. “I don’t think there’s any way for Wall Street...
  • US Senators Target Top Russian Banks Over Syria

    09/18/2013 6:17:13 PM PDT · by Navy Patriot · 35 replies
    RIA Novosti ^ | September 18, 2013 | Staff
    US lawmakers are calling for a crackdown against leading Russian lenders VTB, Vnesheconombank (VEB) and Gazprombank for allegedly helping Syrian President Bashar Assad circumvent sanctions, accusations the state-owned banks sharply denied Wednesday. “The Syrians could not conduct this war without Russian financing,” US Sen. Richard Blumenthal, a Democrat from Connecticut, said Tuesday at a policy discussion in Washington, Politico reported. Blumenthal was one of four senators who sent a letter to US Treasury Secretary Jack Lew last week calling for sanctions against the three banks, accusing the lenders of enabling Assad to finance a war against rebel forces. The senators...
  • The war on the right… could come from GOP!

    09/17/2013 9:51:09 AM PDT · by Jim Robinson · 18 replies
    salon.com ^ | Sept 17, 2013 | BY BRIAN BEUTLER
    First things first, let’s stipulate that if there’s a government shutdown at the end of the month — and I continue to doubt there will be — it will happen because House Speaker John Boehner chooses to precipitate one. He can always partner with Democrats to pass a temporary, uncontroversial government spending bill if he wants to, because almost all Democrats will vote for it, and there are still a few dozen Republicans in the House who are both sane and unintimidated by the threat of a primary challenge from the right. Whatever happens is his decision. The latest doomed-to-fail...
  • Chilling: Author Brad Thor Reveals the Extremely Powerful Agency behind new book ‘Hidden Order’

    07/14/2013 6:48:11 AM PDT · by opentalk · 30 replies
    The Blaze ^ | July 9, 2013 | Erica Ritz
    Author Brad Thor warned about the NSA surveillance state in his last book “Black List,” and in a recent interview with TheBlaze’s Jon Seidl, described the subject of his newest book as an organization “more secretive than the NSA, CIA, and some people claim more powerful than the United States government itself.” On Glenn Beck’s radio program Tuesday, coinciding with the book’s release date, Thor revealed the agency behind “Hidden Order”: the Federal Reserve.… When he peels back the layers, Thor said, Harvath discovers that the Fed “is doing things nobody in America could ever imagine could be done…” “And...
  • Irish PM promises probe against bankers who duped government with figures 'picked from their ar*e'

    Irish officials has promised a state investigation into the 'arrogant' actions of Anglo Irish Bank, in which executives allegedly covered up their losses in order to secure large bail-outs from the government in the 2008-2009 financial crisis. The Irish public must learn the full truth of how Anglo Irish Bank deceived government officials and nearly led Ireland to bankruptcy, Prime Minister Kenny told lawmakers Tuesday. "Believe you me, I understand the rage and the anger of so many people who have been affected by all of this," said Kenny. The Prime Minister’s terse words follow a scandal that broke out...
  • The Consequences of Electing a Manchurian Candidate

    05/02/2013 1:10:47 PM PDT · by HalTa · 18 replies
    Question: How would a Manchurian Candidate govern if elected President of the United States? Answer: Exactly as Barak Hussein Obama. Is there any doubt that Obama cannot communicate face to face with the Republicans because it is impossible for his handlers to program him in advance to participate in an unscripted conversation. So, Obama fund raises, plays golf, takes vacations, entertains lavishly at OUR house,while his handlers are busy destroying the foundation of our Country.
  • Obama Bagged $18 Million In Corporate, Special Interest Cash For Second Inauguration

    04/29/2013 1:40:24 PM PDT · by NoLibZone · 10 replies
    breitbart.com ^ | April 29, 2013 | Wynston Hall
    Obama’s big money corporate donors included: AT&T--$4.6 million Microsoft--$2.1 million Boeing--$1 million Chevron--$1 million Genentech--$750,000 Deloitte--$500,000 FedEx--$500,000 Coca Cola--$430,000 Bank of America--$300,000 Xerox--$250,000 ExxonMobil--$250,000 Northrup Grumman--$100,000 Verizon--$100,000 Obama also hauled in $250,000 checks from each of the following unions: The International Association of Fire Fighters, the International Brotherhood of Electrical Workers, the International Brotherhood of Teamsters, and the National Education Association.
  • Tyranny is a very real threat to Liberty and we are now staring it right in the eye!

    04/27/2013 10:53:42 AM PDT · by Jim Robinson · 128 replies
    April 27, 2013 | Jim Robinson
    <p>The Democrats scoff when we remind them that the second amendment was intended by the founders for the people to defend against government tyranny.</p> <p>"What? Are we tyrannical?," They innocently exclaim.</p> <p>And the answer is yes.</p> <p>When you elect an admitted Marxist to the presidency who claims the constitution (that he is supposed to uphold) is a flawed document and pledges to "transform America" by importing European spread-the-wealth around Marxism to ensure "economic justice," that is tyranny!</p>
  • How to Save the Republican Party

    03/23/2013 10:34:37 AM PDT · by Dysart · 51 replies
    Commentary Magazine ^ | March/April | Michael Gerson & Peter Wehner
    ...First, and most important, is focusing on the economic concerns of working-and middle-class Americans, many of whom now regard the Republican Party as beholden to “millionaires and billionaires” and as wholly out of touch with ordinary Americans. This is a durable impression—witness Bill Clinton’s effective deployment of it more than 20 years ago and its continued resonance during the 2012 campaign when Team Obama portrayed Mitt Romney as a plutocrat who delighted in shutting down factories and moving jobs overseas. Sure enough, in November exit polls, 81 percent of voters said that Barack Obama “cared for people like me”; a...
  • Gun Owners Separate Friends from Foes

    03/18/2013 12:17:04 PM PDT · by neverdem · 16 replies
    National Review Online ^ | March 18, 2013 | Frank Miniter
    A fast-growing website flags businesses that permit concealed carry — and those that don’t. Chris Walsh didn’t set out to punish businesses that don’t allow him to carry his concealed handgun. He’s just a software designer from Richmond, Va. He started the website Friend or Foe in 2009 to keep track of where he could shop and eat without running afoul of business policies and local regulations. But then gun owners started using his website. As word got out on gun-rights blogs, people began adding more business ratings to Friend or Foe, highlighting the establishments that ban firearms and those that don’t....
  • Finance: The Cypriot Confiscation is Terrifying

    03/17/2013 7:40:36 AM PDT · by SatinDoll · 19 replies
    Barnhardt ^ | March 17, 2013 | Ann Barnhardt
    Yes, it is every bit as bad as it sounds, and worse. Word is that the initial plan was for a 40% (!!!!) levy confiscation of Cypriot bank accounts. They settled for a MERE 6.75% and 9.9% dual-layered compromise. Yeah, you all need to do what I have been doing for the last several months and live within spitting distance of being overdrawn in your bank accounts. In other words, keep the BARE MINIMUM in the bank and feed your account just enough to cover the bills. As soon as money comes in, get it the heck out of there....
  • OUR DISINTERGRATING GOVERNMENT

    03/06/2013 7:49:42 PM PST · by SatinDoll · 5 replies
    The Market-ticker ^ | March 6, 2013 | Karl Denninger
    There's only way to look at this folks. WASHINGTON — Attorney General Eric Holder's stunning admission that it was difficult to prosecute large banks because of the potential economic impact may be a turning point of the drive to break them up. It's not stunning at all. It is, however, an admission of what we have known for years. Now the pants of "Nobody committed any crimes" have in fact been artfully dropped to the floor and what's in our face is the ugly anatomical truth that crimes were committed and intentionally ignored. That is something that Congress and the...
  • Obama's 'Untouchables:' How The Most Powerful Wall Street Execs Escaped Prosecution

    01/23/2013 8:50:40 AM PST · by SeekAndFind · 27 replies
    Business Insider ^ | 01/23/2013 | Glenn Greenwald, The Guardian
    PBS' Frontline program on Tuesday night broadcast a new one-hour report on one of the greatest and most shameful failings of the Obama administration: the lack of even a single arrest or prosecution of any senior Wall Street banker for the systemic fraud that precipitated the 2008 financial crisis: a crisis from which millions of people around the world are still suffering. What this program particularly demonstrated was that the Obama justice department, in particular the Chief of its Criminal Division, Lanny Breuer, never even tried to hold the high-level criminals accountable. What Obama justice officials did instead is exactly...
  • Meanwhile, The Spanish Lies Are Being Exposed

    12/28/2012 11:59:39 AM PST · by SatinDoll · 4 replies
    The Market Ticker ^ | 12/28/2012 | Karl Deninger
    As our futures bleed this morning on the hangover from yesterday's rumor dujour on the "fiscal cliff" buried below the fold and therefore invisible to Americanus Stupidus is the news that both Bankia and Valencia, along with a handful of other Spanish banking names, are collapsing. Bankia was formed from a merger of provincial savings banks, drawing in over a quarter of a million small investors with extremely aggressive marketing. Unfortunately it appears that they were also hiding losses and it was recently revealed that the firm had negative equity (that is, its assets are worth less than its deposits.)...
  • How Warren Buffett and his ilk are raping America, a must listen too

    11/23/2012 8:28:29 AM PST · by Abiotic · 17 replies
    KPFA ^ | November 21, 2012 | David Cay Johnston
    "The Fine Print: How Big Companies Use Plain English To Rob You Blind" with Pulizer Prize-winning David Cay Johnston. Right Click, Save As
  • TARP Was Even Worse Than You Think: “An Abysmal Failure,” Barofsky Says

    07/27/2012 11:45:40 AM PDT · by Kartographer · 48 replies
    The Daily Ticker-Yahoo Finance ^ | 7/27/12 | Aaron Task
    Much has been made about Barofsky's criticism of Treasury Secretary Tim Geithner, who told CBS News he is "deeply offended" by how he's portrayed in Barofsky's book Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street. Barofsky pulled no punches in our earlier segment about the ongoing rate-rigging scandal. (See: "I Hope We See People In Handcuffs": Neil Barofsky Weighs in on LIBOR Scandal) In the accompanying video, we focused more on TARP's failings to live up to its promise to help individual Americans, not just the big banks.
  • When Bankers Behave Badly

    07/19/2012 3:42:27 PM PDT · by Notary Sojac · 16 replies
    The Weekly Standard ^ | 23July 2012 | Irwin M. Stelzer
    Where’s the outrage? No, not at President Obama’s performance, foreign and domestic, or his airbrushing the past three years of his failed economic policies out of the history books. That particular outrage Mitt Romney is taking good care to express as part of his strategy of concentrating on Obama’s failures rather than risk proposing policies to return morning to America. But where is the Republican candidate’s outrage at some of those who might be considered his own friends and allies? Just because Obama attacks “fat cat” bankers in one of his egalitarian rants doesn’t mean that Romney should refuse to...
  • Spain's Economy On the Edge of Collapse as Protests Turn Violent

    06/20/2012 10:59:42 AM PDT · by ex-Texan · 51 replies
    UK Daily Mail ^ | 6/20/2012 | Hugo Duncan
    Europe plunged deeper into crisis last night as Spain lurched closer to needing a full-blown bailout to save it from collapse. The government in Madrid was forced to pay prohibitively high interest rates to borrow money on another bruising day for the single currency bloc. It raised fears that Spain is on the verge of becoming the biggest victim of the euro crisis so far – following the bailouts of Greece, Ireland and Portugal. Please read the rest at the source
  • Debt-Hit Greece 'Running Out Of Medication'

    05/29/2012 10:19:11 AM PDT · by tcrlaf · 29 replies
    SKY ^ | 5-25-12 | Jason Ferrell
    Pharmacies in Greece were on strike earlier this week in protest at the government not paying them for medicines that should be free to customers. Many pharmacies now have huge debts to pharmaceutical companies for drugs they have handed out free of charge. Sky News spoke to one pharmacist who has not been paid by the state for over a year. Evaggelina Rousi, who runs a chemist in Athens, said: "The government owes us 30,000 euros but we have not been paid by them for a year and a half. Many people who rely on regular medication are at risk....
  • Jailed for $ 280. The Return of Debtors' Prisons

    04/26/2012 7:39:45 AM PDT · by ex-Texan · 96 replies
    CBS Money Watch ^ | April 23, 2012 | Alain Sherter
    How did breast cancer survivor Lisa Lindsay end up behind bars? She didn't pay a medical bill -- one the Herrin, Ill., teaching assistant was told she didn't owe. "She got a $280 medical bill in error and was told she didn't have to pay it," The Associated Press reports. "But the bill was turned over to a collection agency, and eventually state troopers showed up at her home and took her to jail in handcuffs." Although the U.S. abolished debtors' prisons in the 1830s, more than a third of U.S. states allow the police to haul people in who...
  • CFTC Pulls Public Comments from JP Morgan Whistle-blower:

    03/16/2012 11:07:50 AM PDT · by Kartographer · 8 replies
    SHTF Plan ^ | 3/16/12 | Mac Slavo
    Yesterday, an open letter posted in the public comments section at the Commodity Futures Trading Commission (CFTC) by a self described JP Morgan insider and whistle-blower was removed in short order (no cache of the page exists, but it was briefly indexed by search engines). It was dead on arrival. A direct link to the letter now leads to an empty page in the hopes that it will never be seen by the 99% of Americans who tune in only to mainstream news sources for their daily dose of truth. Don’t worry, though, because if there’s one thing alternative news...
  • The 'Financial Repression' Trap

    01/01/2012 8:33:53 PM PST · by JustTheTruth · 9 replies
    Wall Street Journal ^ | Dec. 6, 2011 | KEVIN WARSH
    Financial markets are in a precarious place, with European banks and sovereign balance sheets in the cross-hairs. Bank regulators are becoming increasingly aggressive, and euro-zone borrowing costs are rising as the debts of years past are coming due. In this environment, policy makers are finding their authority, credibility and firepower being tested. In turn, they are finding it tempting to pursue "financial repression"—suppressing market prices that they don't like. But this is bad policy, not least because it signals diminished faith in the market economy itself. Markets are not always efficient, but the market-clearing prices for stocks, bonds, currencies and...
  • Presenting The Three Unscripted Sentences That May Have Cost Jon Corzine His Freedom

    12/13/2011 8:20:20 PM PST · by JustTheTruth · 24 replies
    Zero Hedge ^ | 12/13/2011 | http://www.zerohedge.com/users/tyler-durden
    Today, in advance of their sworn testimony, each witness to the Senate Agricultural Committee's MF Global hearing was requested to disclose what their prepared remarks would be. Sure enough, CME executive chairman Terry Duffy did that, and his prepared testimony can be found here. In and of itself there was nothing unexpected about said speech, the relevant section of which has been transcribed below. Where things got very ugly for Corzine, is when Duffy literally veered from the script, and added three unexpected sentences, catching everyone in the committee off guard (including those who had given up on the testimony...
  • Dodd-Frank Rules Will Crush Employment, Banks Warn (2.9 Million fewer jobs created by 2015)

    12/05/2011 3:10:54 PM PST · by Qbert · 1 replies
    IBD ^ | 12/5/2011 | PAUL SPERRY
    Job-killing bank regulations threaten to wipe out all the gains in private-sector employment since the recovery began, the industry warns. Washington, however, is hiring thousands more bureaucrats to enforce the rules. Signed into law last year, the Dodd-Frank Act is the biggest rewrite of financial regulations since the New Deal. It was intended to rein in Wall Street "excesses." But the banking industry says burdensome red tape is hurting economic growth and jobs in a still-sluggish labor market. "The level of real GDP could be 2.7% less by the year 2015 than would otherwise be the case for the United...