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from Armstrong Economics: Politicians in the USA like to point their collective finger at China for corruption problems while they sanction a legalized system of corruption that ensured the NY bankers will NEVER be prosecuted. Furthermore, in the USA, politicians receive untold millions legally funneled to them by political action committees. The PACs assure that Congress votes the way that those who provide the money want it to. Why is Goldman Sachs above the [...] by Phoenix Capital Research
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, when you look at the list of bailouts/ money pumps it’s absolutely staggering how much money the Fed has thrown around.
Here’s a recap of some of the larger Fed [...] Cyprus & the Biggest Myth of Banking Today by Adrian Ash, BullionVault Tuesday, 19 March 2013
Bank deposit accounts should be sacred. Right up until they’re not…
YOU’D THINK that with all this practice, politicians would know how to handle a banking crisis by now. Most especially in the Eurozone. But no. Five years since Bear Stearns hit the skids (the anniversary was Monday) the Cypriot mess is such a mess that people elsewhere feel [...] by Phoenix Capital Research
With QE 3 and QE 4 firmly in place and the Fed’s balance sheet over $3 trillion, Idecided to go back and count the recap the Fed/Feds’ interventions since the Great Crisis began in 2007.
Here’s a recap of some of the larger moves made during the Crisis:
Cutting interest rates from 5.25-0.25% (Sept ’07-today). by Phoenix Capital Research
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, when you look at the list of bailouts/ money pumps it’s absolutely staggering how much money the Fed has thrown around. Here’s a recap of some of the larger Fed [...] Mac Slavo
Amid growing concern that the global economy is teetering on the edge of a total collapse, governments in Europe, China and the United States continue to manipulate statistics in an effort to paint a picture of recovery and a return to normalcy. But despite their best efforts to fabricate positive employment numbers, GDP growth, currency stability and stock market health, the stark reality is that the global economy [...] by Phoenix Capital Research
Since the Financial Crisis erupted in 2007, the US Federal Reserve has engaged in dozens of interventions/ bailouts to try and prop up the financial system. Now, I realize that everyone knows the Fed is “printing money.” However, when you look at the list of bailouts/ money pumps it’s absolutely staggering how much money the Fed has thrown around. Here’s a recap of some of the larger Fed [...] Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter Two thermometers into the brains of corporate America plunged to depth not seen since the trough of the Great Recession when the US was losing hundreds of thousands of jobs a month. One was based on responses from CEOs of America’s largest corporations; the other was based on responses from analysts who’d listened to their industry contacts. But given the mixed, rather than catastrophic, economic data, could these people [...] Welcome to Capital Account. Nigel Farage is a UK politician with a strong US following. He has seen his own party, UKIP, grow from a fringe faction to a viable mainstream alternative. By turning his European Parliamentary position into a bully pulpit for a growing movement of euro-skeptics, he has managed to ride an alternative political wave sweeping across the Atlantic. Nigel Farage joins us in studio to discuss what [...] From WSJ: New York’s top prosecutor filed a civil complaint against J.P. Morgan Chase Co., alleging widespread fraud in the sale of mortgage-backed securities in the run-up to the financial crisis. … The allegations relate to billions of dollars of subprime securities issued by Bear Stearns Cos. before the troubled firm, now owned by J.P.Morgan, collapsed in 2008. The suit alleges that losses on residential-mortgage securities issued by Bear Stearns in 2006 and [...] WASHINGTON (MarketWatch) — New York Attorney General Eric Schneiderman late Monday filed a lawsuit against J.P. Morgan Chase & Co. in civil court, alleging widespread fraud in the sale of mortgage-backed securities. The suit relates to mortgage-backed securities issued by Bear Stearns & Co., which was acquired by J.P. Morgan JPM +1.21% in 2008 when the firm collapsed amidst the financial crisis. The complaint argues [...] by Phoenix Capital Research
Since the Great Crisis began in 2007 the Fed/ Feds have done the following:
Cutting interest rates from 5.25-0.25% (Sept ’07-today).
Lehman, dead, but still filing lawsuits. JPM is being sued for stealing $230 million and ‘filing false and inflated claims’ in a $2.6 billion derivatives battle with Lehman. It was a mad scramble for cash and collateral in Lehman’s final week, and Jamie Dimon’s team grabbed everything they could find while Fuld and company were busy setting up secret cash payments to insiders. But that’s another story. — WSJ Lehmans bankruptcy estate is suing J.P. Morgan over [...] Now that the Fed has engaged in QE 3 (which is essentially QE infinite since it’s meant to run until things get where the Fed wants them), I decided to go back and count the recap the Fed/Feds’ interventions since the Great Crisis began in 2007. Here’s a recap of some of the larger moves made during the Crisis: Cutting interest rates from 5.25-0.25% (Sept ’07-today). The Doc sat down with the Golden Jackass himself Monday for an exclusiveMUST LISTEN interview. Willie informed The Doc that it appears that Morgan Stanley was used by the cartel to prevent a collapse in treasury bonds in 2010, and believes that Morgan Stanley was set up at the time by cartel banks as the next major financial firm to fail. Morgan Stanley put on $8 TRILLION in interest rate swaps in the first half [...] Jim Willie CB – Firestorms & Currency Twisters … MORGAN STANLEY IMPLOSION The insider conversation, often called chatter when it become deafening in tone, is that Morgan Stanley faces imminent failure and ruin. Almost two weeks ago, the Jackass provided a tip to Bill Murphy of GATA to post on his popular LeMetropole Cafe that Morgan Stanley fund managers and high ranking employees were preparing for the firm’s implosion. A subscriber to the [...] Whispers on Wall Street: Major Financial House Is Going to Implode… Could It Be Morgan Stanley?
Mac Slavo
Before the collapse of mega behemoth Bear Stearns there were rumors that a major Wall Street firm had bitten off more than it could chew. Mainstream media, for the most part, completely ignored the rumors, with some financial experts like CNBC’s premier Wall Street insider Jim Cramer literally screaming at viewers on [...] This show on the House floor from Alan Grayson was one of the most entertaining bailout clips of the past 4 years. All the details are at this link: New York Fed Website – Maiden Lane Transaction History Here were the facts at the time: “A good portion of Red Roof’s remaining $407 million in debt, held on lenders’ balance sheets and intended for later securitization, landed with the Federal Reserve via Bear Stearns. The Fed holds $444 [...] Four years and three months ago I stumbled upon an extensive archive of ten-year-old posts by anonymous writers with names like ANOTHER, FOA and ARISTOTLE. Prior to that momentous stroke of luck, I’d been poring over anything and everything I could find that was attempting to explain a series of events that I found very troubling. I had already been exposed to personal losses a year earlier due to the reversal [...] Wolf Richter www.testosteronepit.com They only bubble up rarely, these scandals at the Federal Reserve System, but when they do, they’re doozies, involving huge amounts of money, massive conflicts of interest, all-out manipulation, collusion, favoritism, dizzying cronyism…. And yet, over the 100 years that the Fed has existed, it has done an excellent job in one of its other primary functions, maintaining the dollar, which has lost only 96% of its value—instead of [...] From Washington’s Blog: Wall Street fraud caused the Great Depression and the current financial crisis. Top economists and financial experts agree that our economy will never recover unless Wall Street fraud is prosecuted. Yet the government has more or less made it official policy not to prosecute fraud, and instead to do everything necessary to cover up for Wall Street. For example, the Obama administration is prosecuting fewer financial crimes than under [...] In light of the just announced huge 8-K which has JPM admitting it was mismarking hundreds of billions in CDS, in effect destroying the CDS market for everyone (as we predicted 2 months ago would happen), the firm’s earnings (and CIO losses) are very much irrelevant. But here they are regardless: $5 billion in Net Income, which includes a $4.4 billion in CIO losses offset by $1.0 billion from “securities [...] This week’s G-20 summit was “the diplomatic equivalent of speed dating” and did little but take more money from debt-laden countries, David Malpass writes in an editorial for the Wall Street Journal today. Malpass, who served as Deputy Assistant Treasury Secretary under President Reagan before becoming chief economist at Bear Stearns, says the problems plaguing global growth are national in nature, and no international summit or program will fix them. From the editorial. The obstacles to global growth in 2012 are clear and need [...] allgov.com Following the 2008 financial crisis, the Federal Reserve provided more than $4 trillion in near zero-interest loans and other help to banks and businesses whose executives also served as directors for the national bank. At least 18 current and former Fed regional bank directors had a direct stake in the trillion-dollar bailout given to teetering institutions, according to a report produced by the Government Accountability Office, but released by [...] The Federal Deposit Insurance Corp. sued a group of banks, including JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Bank of America Securities and Deutsche Bank AG (DBK), in two suits over mortgage-backed securities. The FDIC, acting as receiver for two failed banks, filed the suits in New York federal court today seeking money the banks allegedly lost on securities backed by residential mortgages. The suits claim a total of $77 million. The FDIC filed an $11 [...] ETF Daily News Hysteria of the horrid possibility of a European meltdown and the dire implications for the world economy a collapse will end, as the event finally turn into unequivocal [...] by Tyler Durden We have spent a considerable amount of time in the last week or two explaining just why depositor withdrawals (or bank runs) are the death knell for the Euro experiment. We first described the ‘run on banks and governments’ on the basis of the potential for overnight loss of ‘fungibility’ back in December but the escalation last week in Greece (and the contagion to Spain’s Bankia) signals things are shifting to 11 on [...] Published on May 15, 2012 by RussiaToday In this episode, Max Keiser and co-host, Stacy Herbert have a field day dissecting Jamie Dimon’s ‘egregious, terrible mistake,’ the possible insider trading around those so-called mistake and what the Leveson Inquiry may tell us about the SEC’s Mary Schapiro’s ‘focus’ on these oh so egregious mistakes. In the second half of the show Max talks to Nomi Prins, a former senior executive at Goldman Sachs [...] |
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