NEW YORK – America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while we can all think of examples of Americans who rose to the top on their own, what really matters are the statistics: to what extent do an individual’s life chances depend on the income and education of his or her parents?
Nowadays, these numbers [...]
President Obama earned $789,674 in 2011, the White House announced on Friday. However, with this income, he does not even qualify for the so-called Buffett Rule that he has promoted relentlessly and the Senate will take up on Monday.
The Buffett Rule calls for those making over $1 million a year to pay a minimum tax rate, named after billionaire Warren Buffett. The presidentdid earn over $1 million in previous years–$1.7 million in [...]
First we learn the LTRO may be €1 trillion, then €10 trillion, now the IMF tells us it has misplaced $1 trillion. The world may be going totally broke but at least it does in style – in perfectly round 12 digit numbers.
IMF SAID TO SEE POTENTIAL 2-YEAR FINANCING GAP AT $1 TRILLION
IMF SAID TO SEEK RAISING LENDING RESOURCES BY $500 BLN
In other words, even after it “miraculously” procures this [...]
January 11, 2011
As The Independent revealed last month, senior bankers met Treasury ministers nine times in the weeks after the publication of Sir John Vickers’ report on structural reform of the sector last September. David Cameron’s personal business adviser, Tim Luke, is an alumnus of Lehman Brothers and Barclays Capital.
When the banks want the ear of a minister, they don’t need to hire anyone – they only need [...]
Also appears a massive amount of silver has been confiscated by banksters from MF Global, also creating a glut in oversupply of silver and he mentions particular investment banks and political connections, along with having videotaped evidence of bankster dealings. He also mentions UK’s PM David Cameron as having involvement with EU veto really because of bankster concerns and also warns it’s even possible a war may just so happen [...]
by Bud Conrad of Casey Research, first published in the July 2006 International Speculator, and worth a reread for anyone who has not seen it previously.
The Coming Currency Crisis
Poor Ben Bernanke. The greatest financial train wreck in history is going to happen on his watch, and it will be mostly his predecessor’s doing. But not the work of Alan Greenspan alone. The Washington elite [...]
I will venture to guess that about 30 to 40% of federal outlays are wasted due to corruption, inefficiencies and just horrible management; independent of the agency spending the $$$.
Unfortunately, given the size of the govt. bureaucracy and lack of accountability regardless of the level of waste, this problem will literally never be solved. Yes, maybe someone gets fired that is an appointed head of some agency, but the real [...]
Let the free market decide who is eligible for a loan. The only “value” Fannie/Freddie can add is to distort the distribution of mortgages to those who the free market would deem unworthy. End of story.
This is not a matter of lack of regulation. It’s a story of a lender with a political agenda and (now) unlimited taxpayer funds to achieve its agenda-driven goals.
Who has Fannie/Freddie ever helped: Those who [...]