Taibbi Vs A Pernicious Meme

Dec 20th, 2011

Matt Taibbi's takes aim at one of worst lies regarding the financial crisis:

"The notion that what Wall Street firms did was merely unethical and not illegal is not just mistaken but preposterous: most everyone who works in the financial services industry understands that fraud right now is not just pervasive but epidemic, with many of the biggest banks committing entire departments to the routine commission of fraud and perjury – every single one of the major banks, for instance, devotes significant manpower to robosigning affidavits for foreclosures and credit card judgments, acts which are openly and inarguably criminal.

Banks and hedge funds routinely withhold derogatory information about the instruments they sell, they routinely trade on insider information or ahead of their own clients’ orders, and corrupt accounting is so rampant now that industry analysts have begun to figure in estimated levels of fraud in their examinations of the public disclosures of major financial companies." EMPHASES OURS

And yet, many of our elected leaders on both sides of the aisle continue to hamper stronger regulation of almost any kind.

Worth 1,000 Words

Dec 12th, 2011

The Coming Banking Meltdown...

Oct 7th, 2011

Coming less than two weeks after the stunning BBC interview with Alessio Rastani and his forecast of financial doom, IMF advisor Dr. Robert Shapiro adds to the sense of urgency (video below):

"If they can not address [the financial crisis] in a credible way I believe within perhaps 2 to 3 weeks we will have a meltdown in sovereign debt which will produce a meltdown across the European banking system. We are not just talking about a relatively small Belgian bank, we are talking about the largest banks in the world, the largest banks in Germany, the largest banks in France, that will spread to the United Kingdom, it will spread everywhere because the global financial system is so interconnected. All those banks are counterparties to every significant bank in the United States, and in Britain, and in Japan, and around the world. This would be a crisis that would be in my view more serrious than the crisis in 2008.... What we don't know the state of credit default swaps held by banks against sovereign debt and against European banks, nor do we know the state of CDS held by British banks, nor are we certain of how certain the exposure of British banks is to the Ireland sovereign debt problems."

California Vs The Banksters

Sept 30th, 2011

One less state is in on the big fix. From the LA Times:

"California Atty. Gen. Kamala Harris will no longer take part in a national foreclosure probe of some of the nation's biggest banks, which are accused of pervasive misconduct in dealing with troubled homeowners.

Harris removed herself from talks by a coalition of state attorneys general and federal agencies investigating abusive foreclosure practices because the nation's five largest mortgage servicers were not offering California homeowners relief commensurate to what people in the state had suffered, Harris told The Times on Friday.

The big banks were also demanding to be granted overly broad immunity from legal claims that could potentially derail further investigations into Wall Street's role in the mortgage meltdown, Harris said."

Great. We're Mad. We Still Need A PLAN To Get Even.

Sept 25th, 2011
F. Grey Parker (NSFW post)
Ongoing streaming coverage of events in New York can be viewed at AnonOps

There has been a lot of discussion in the last 24 hours about the ongoing Wall Street protests. What, exactly, are the goals? I have asked this. Other folks that I genuinely respect have asked this.

Even some of those who are on the scene in New York have begun asking this.

The pushback against these legitimate questions has been fairly intense.

These petulant reactions to reasonable queries need to stop and they need to stop right now.

The Epidemic Of Not Watching, cont...

Sept 22nd, 2011

Yes, the #OccupyWallStreet protest is still happening. The "liberal" MSM might not be paying attention. However, a lot of us are.

MSNBC - Banksters & Government Exposed FINALLY by Mainstream News!

April 7th, 2011

We've held off on posting some interesting and important recent videos for a reason. We were waiting for the release of Rep. Paul Ryan's Path To Poverty. Viewing much of this now helps to put his "pamphlet" into better perspective. Rep. Ryan would have us double down on the same fiscal philosophies and monetary policies which have nearly ruined this great nation.