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New Shockwaves From Courts and Accounting Board The Next Financial Crisis Hits Wall Street, as Judges Start Nixing Foreclosures

http://www.counterpunch.org/martens10212009.html
By PAM MARTENS

The financial tsunami unleashed by Wall Street’s esurient alchemy of spinning toxic home mortgages into triple-A bonds, a process known as securitization, has set off its second round of financial tremors.

Goldman Sachs’s Griffiths Says Inequality Helps All

 Readers: this essay represents one of those moments of naive truth, at least as voiced within the language  of those who presume without hesitation to be our betters. This a high proof extraction of nearly pure elitist contempt for the toiling classes. Some how the keeper for this corporate toadie must have away taking a pottie break. Griffths's statement is well worth being reposted in mile high font, for even those who would rather deny than comprehend the rationalization for toiless wealth.

Moral Of Galleon Insider-Trading Bust: Only Fools Try To Beat The Street

Henry Blodget Oct. 19, 2009, 

 http://www.businessinsider.com/henry-blodget-moral-of-galleon-insider-trading-bust-only-fools-try-to-beat-the-street-2009-10

Wall Street's Naked Swindle A scheme to flood the market with counterfeit stocks helped kill Bear Stearns and Lehman Brothers —

 URL: http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_s...

Posted Oct 14, 2009 9:30 AM

On Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns would lose more than half their value in nine days or less. It was madness — "like buying 1.7 million lottery tickets," according to one financial analyst.

SEC Names Goldman’s Storch as Enforcement Unit Operations Chief

 Readers: This one is preposterously arrogant to the extreme, not the article, but the appointment. Perhaps we should call this insider "regulation" meaning prejudiced, intentionally subverted, and vacuous. Do these people even understand the concept of conflict of interest except as an opportunity to enrich themselves and their cronies. This is how the criminals take over the justice system and subvert law and order as it will benefit their mob. That B.H.

U.S. Said to Target Wave of Insider-Trading Cases After Galleon

Readers: adding this to all of the other sorts of fraud that have been perpetrated by the culture of greed and the subversion of regulation on Wall Street, this is no doubt only a small portion of the insider trading that has been going on.

By Joshua Gallu and David Scheer from Bloomberg.com

The Fundamental Principles of Modern Monetary Economics

Reader: this a bit different sort of article, and it is the theory side of why the politicized agenda of Wall Street,the pop-economics of the gee whiz version of community currencies, and even the nominal monetary historians don't quite get it right. Milton Friedman though he received a Nobel Prize in Economics and is much beloved by the so-called "Free Marketers" was more of an ideologue than concerned with the real life affects of his untestable speculations. 

 

Will We Curb Wall Street's Casino and Kleptocracy??

Readers: the political strategy of the banks is to use the need for reform as an opportunity to weaken any regulatory requirement. This is one of the three crises of Capital described by Istvan Meszaros, the crisis resulting from the influence of the banking industry upon the political processes, also known as plutocracy and in Biblical or Koranic terms this is USURY. This aspect was hard wired into the US constitution in 1787, and its power has only grown since then.

Robert L. Borosage
Co-Director of the Campaign for
America’s Future

REVIVING THE LOCAL ECONOMY WITH PUBLICLY-OWNED BANKS

Readers: Please, also read Jamie Walton's rebuttal to this article which makes Ellen Brown's suggestion a red herring at "Why States Going into the Banking Business Would be a Distraction, not a Solution to their Fiscal Problems" http://economics.arawakcity.org/node/240

Ellen Brown, October 14th, 2009
http://www.webofdebt.com/articles/publicly-owned.php

Systemically Dangerous Institutions

By William K. Black

posted from Economic Perspectives Kansas City Blog from the University of Missouri, Kansas City

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