Tags: Banksters

Jamie Dimon’s Big $13 Billion Secret – The Truth Behind the JP Morgan Settlement

“Afterward, West went into the office, where his first meeting of the day was with Holder and James Cole, the deputy attorney general, in Holder’s conference room. Just as he was telling the two men about his call with Dimon, his cellphone rang. It was Dimon again. West took the call, pacing back and forth at the far end of the room. Dimon proposed a meeting on September 26 and assured him that the bank would come back with a significantly increased offer. West agreed to recommend that Holder postpone the filing of Wagner’s complaint and meet with Dimon. That was an unprecedented move. It’s not every day that the attorney general of the United States postpones the filing of a civil complaint against a powerful Wall Street bank at the request of its CEO so that the two sides can cut a deal in private. Whatever was in Wagner’s complaint, Jamie Dimon did not want it to become public knowledge.”

- From William Cohan’s excellent article, Jamie Dimon’s $13 Billion Secret

Those of us who have been following the outrageous, unaccountable theft and criminality of the banking industry for many years reacted in a similar manner to the announcement of a $13 settlement late last year between JP Morgan and the Department of Justice. The first thought that crossed our minds was “no criminal prosecutions, another settlement of course.” Then, once the reality of the size of the settlement sunk in, we couldn’t help but come to the conclusion that no organization is going to cough up $13 billion unless there is some serious criminality at play.

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

South Carolina Woman Arrested for Cursing in Front of Her Kids

Screen Shot 2014-08-16 at 3.42.16 PMYou gotta love America. In the same week that the entire world witnessed how U.S. polices forces have been transformed into paramilitary organizations, a woman is arrested in a South Carolina supermarket for cursing in front of her children.

Yep, this is not a joke. Apparently, under North Augusta law “disorderly conduct” includes if a person “utters, while in a state of anger, in the presence of another, any bawdy, lewd or obscene words or epithets.” Sounds like one of those ridiculous laws that remains on the books but isn’t really ever enforced. Except in North Augusta, where apparently police have nothing better to do.

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

The Credit Bubble’s “Final Frontier” – Meet Goldman’s Fixed Income Global Structured Covered Obligation

Fixed Income Global Structured Covered Obligation. Say that three times fast.

According to yesterday’s Wall Street Journal, the bailed out financial criminals at Goldman Sachs are set to launch the latest and greatest toxic derivative product directly into the portfolios of willing muppets the world over. It all starts this September, so public pension funds may as well just start taking out stacks of hundreds and torching them at Burning Man while they still have a chance.

Yes, it’s called the “Fixed Income Global Structured Covered Obligation,” and no, you will not have a clue what’s in it. No seriously, you won’t have a clue.

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

The New York Times Describes Obama – “A Restless President Weary of the Obligations of the White House…”

Screen Shot 2014-07-14 at 4.27.46 PMWhat’s so amusing about today’s article from the New York Times titled, At Dinner Tables, Restless President Finds Intellectual Escape, is that the author appears to be quite sympathetic to Obama. She seems to want to portray the President as a real statesman; one who is so far above politics and the pedestrian task of being Commander in Chief that he finds it necessary to flee his responsibilities in order to find intellectual escape while dining extravagantly with “elites” in Europe. In contrast, he merely comes across as the arrogant, disconnected, oligarch coddler he is.

The article also seems to say something important about the New York Times’ own disconnectedness, particularly considering the paper’s Pentagon correspondent recently referred to the American public as children, with the government and mainstream media playing the role of parents.

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

Introducing Ghost Skyscrapers – NYC Real Estate Goes Full Retard

Screen Shot 2014-07-10 at 12.59.26 PMLate last month, New York Magazine published a lengthy and very important article titled: Stash Pad – Why New York Real Estate is the New Swiss Bank Account. The entire article is well worth a read, and left me shaking my head in disbelief the entire time. As someone who grew up in New York City, it’s a real shame to see the continued transformation of Manhattan into nothing more than an oligarch playground, or as I sometimes like to call it, “Disneyland for Wall Street.”

One of the most shocking and disturbing revelations from that article was the fact that:

“The Census Bureau estimates that 30 percent of all apartments in the quadrant from 49th to 70th Streets between Fifth and Park are vacant at least ten months a year.”

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

Wall Street Teams Up with U.S. Intelligence Cronies in Bid to Form Fascist “Cyber War Council”

Screen Shot 2014-07-08 at 12.26.31 PMWant to hear the worst idea in the history of horrible ideas? How about we take the industry responsible for destroying the U.S. economy and wrecking the lives of tens of millions of people, and then allow it to create a “government-industry cyber war council.”

It appears that trillions in taxpayer bailouts simply wasn’t enough for Wall Street. Recognizing that it can seemingly get whatever it wants whenever it wants, the industry is now positioning itself to overtly control U.S. “cyber” policy. What could go wrong?

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

India’s Central Bank Will Sell Gold on the Market in Exchange for Gold at the Bank of England

Screen Shot 2014-07-02 at 3.50.34 PMIndia’s gold policy over the last several years is about as dysfunctional as any government policy I have ever seen, and that’s saying a lot. In case you need a reminder, here are a few posts I have written on the subject:

The Times of India: “Almost Every Passenger on a Flight from Dubai to Calicut Was Found Carrying 1kg of Gold”

Gold Smuggling Increases 7x in India and Surpasses Illegal Drug Trade

Indian Temples Fight Back Against Government Gold Grabbing Plot

In a nutshell, Indians were buying too much gold for their government’s comfort, so the “authorities” stepped in with duties and import restrictions in an attempt to stifle the trade. So smuggling soared.

Fast forward to today. It appears the government has finally realized they can’t stop their citizens penchant for gold, so they have decided to dump central bank gold onto the market. What is incredible to me is that they are justifying this with a so-called “swap” into phantom gold at the Bank of England. The favored global hub of shady, rent-seeking, banker oligarchs.

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

Comedian Rob Schneider – “America is Sliding Very Fast Towards Fascism”

The writing on the wall is there for anyone willing to take a look and be honest with themselves. I always try to highlight when public figures have the courage to state what is really happening in this country (such as rapper Lupe Fiasco), rather than cower in a corner from fear of repercussions. Most celebrities are the biggest cowards on earth. They prance around criticizing other nations, never daring to look inward. It is disgraceful.

Rob Schneider had a lot to say in his recent interview with Chris Stigall. Here are a few of his most incisive lines:

There’s a polarization that’s happening…I do think you look can look at government and go, ‘Wow, it is out of control now,’ and if you do criticize or tend to be not directly along a liberal stand, you can get murdered. 

We don’t really have freedom of the press. It’s owned by about eight different companies, and it doesn’t really express or help the average American.

There’s also the money shot of him discussing America’s decline into fascism, which you can hear in the clip below.

In Liberty,
Michael Krieger

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

Can Police Search Your Cell Phone Without a Warrant? The Supreme Court is About to Decide

Two very important cases related to the 4th Amendment protection of cellphone data went before the Supreme Court yesterday. At issue here is whether or not police can search someone’s cellphone upon arrest. As usual, the Obama administration’s Justice Department is arguing against the citizenry, and in favor of the (police) state. Let’s not forget that the “Justice” Department also argued in favor of the police being able to place GPS tracking devices on people’s cars without a warrant back in 2011. Fortunately, the Supreme Court ruled against it.

Naturally, the feds in the current case will discuss all of the criminals they were able to bring to justice as a result of these privacy violations, but they will certainly not point out America’s current epidemic of unlawful arrests, as well as arrests for petty non-violent crimes that happen each and every day. For instance, let’s not forget statistics that came out last fall from the FBI that showed police make an arrest every two seconds in the USA. I covered this in detail in my post: Land of the Free: American Police Make an Arrest Every 2 Seconds in 2012.

That translates to 12.2 million arrests in 2012, only 521,196 of which were for violent crimes. So should cops be able to search cellphones of millions of Americans being arrested for non-violent crimes such as drug possession? Or what about the street artist in NYC who was unlawfully arrested for putting on a puppet show? Or the guy who’s house was raided by police for a parody Twitter account. Allowing cops to search cellphones upon arrest in a trigger happy police state seems barbaric, immoral and downright stupid to me.

Furthermore, isn’t it interesting that the feds appear so obsessed with taking away your civil liberties to catch petty criminals, yet they couldn’t put a single banker behind bars for the far more egregious crime of destroying the U.S. economy and ruining millions of lives?

Here are some excerpts from The New York Times article to help you get up to speed on what’s at stake:

WASHINGTON — In a major test of how to interpret the Fourth Amendment in the digital age, the Supreme Court on Tuesday will consider two cases about whether the police need warrants to search the cellphones of the people they arrest.

“The implications of these cases are huge,” said Orin S. Kerr, a law professor at George Washington University, noting that about 12 million people are arrested every year, often for minor offenses, and that about 90 percent of Americans have cellphones.

Read the Full Article »

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.

Stunning Quote – Larry Summers to Elizabeth Warren in 2009: “Insiders Don’t Criticize Other Insiders”

A couple of weeks ago, Princeton and Northwestern released a very important study that proved statistically what many of us already knew about the American political process. It is nothing more than an oligarchy. 

It’s one thing to read an academic study showing how cancerous the political system is, it’s quite another to hear a description of how things work from one of the biggest crony weapons of mass societal destruction himself, Mr. Larry Summers.

A recent review in the New York Times of Massachusetts Senator Elizabeth Warren’s new memoir “A Fighting Chance” recalls a stunningly despicable quote by Summers. In the spring of 2009, when the banker handout, I mean bailout, was a heated topic of discussion, Elizabeth Warren attended a dinner with Mr. Summers who at the time was the director of the National Economic Council and a top economic adviser to President Obama. This is what transpired:

After dinner, “Larry leaned back in his chair and offered me some advice,” Ms. Warren writes. “I had a choice. I could be an insider or I could be an outsider. Outsiders can say whatever they want. But people on the inside don’t listen to them. Insiders, however, get lots of access and a chance to push their ideas. People — powerful people — listen to what they have to say. But insiders also understand one unbreakable rule: They don’t criticize other insiders.

What is so incredible about the quote above is that it essentially proves correct everything I and many others have been saying about how “things work” in America these days. The statements above describe a petty, childish oligarchy of arrogant fools. This small club of people call all the shots and do not listen to “outside” ideas whatsoever. This is why nothing changes. This is why the same people are recycled through positions of power over and over again no matter how badly they screw up and how many millions of lives they ruin. This is why there is a two-tiered justice system in which the rich and connected never go to jail, while the average citizen can have his home raided by police for a parody Twitter account. This is why the 0.01% have been able to loot all of the nation’s wealth while median inflation adjusted wages have been declining for 40 years.

The reason is because the “status quo” in America consists of a deranged, immoral, arrogant, selfish fraternity of inept children who protect each other at the expense of everyone and everything else. Until the status quo gets the boot, this nation will continue to decline. Forget reforms, the entire status quo needs to be tossed aside once and for all. The insiders must be turned into outsiders.

In Liberty,
Michael Krieger

Like this post?
Donate bitcoins: 1LefuVV2eCnW9VKjJGJzgZWa9vHg7Rc3r1


 Follow me on Twitter.