Articles/News

We've Bailed out the Banks. When Do We Go After the Crooks Behind our Financial Collapse?

By James Lieber
Tuesday, October 27th 2009 at 1:56pm
From the Village Voice see: http://www.villagevoice.com/2009-10-27/news/we-ve-bailed-out-the-banks-w...

Author James Lieber is a lawyer whose books on business and politics include Friendly Takeover (Penguin) and Rats in the Grain (Basic Books). His previous story on the Wall Street meltdown, "What Cooked the World's Economy?," appeared in the Voice this past January.

Where did our wealth go? How do we claw it back? When are we going to punish the culprits?

Bush Officials Knew AIG Would Use Bailout Funds to Pay Counterparties

Thursday 19 November 2009

by: Mary Susan Littlepage, t r u t h o u t | Report

(Photo: jdiggans / flickr)

Government officials were aware that billions of dollars used to bail out American International Group (AIG) last year were used by the insurance giant to pay off its creditors, according to a newly released government watchdog report.

The Quiet Coup by Simon Johnson

Readers: this article comes from May 2009

Refer to the original url at The Atlantic to view charts

http://www.theatlantic.com/doc/200905/imf-advice

Should America Kow Tow to China?

Readers: I posted a few questions regarding this essay on the Economic Perspectives Blog of the Economics Department of the University of Missouri, Kansas City, which was the intermediate origin of the this posting. So far I have received no reply to my questions and reservations, so I will post them here as well.

Why E-Documentation Could Stick the Mortgage Bill on Banks While Debtors Keep the House

Readers: The author has only partially sanitized the securitization process, and some of the side assumptions border on the absurd. Other than the details the author seems invested in the silly supposition that the prognosis pivots between a "u"shaped and a "v " shaped recession. You know if a medium to small bank in Kansas lost control of their compliance with contract law then the "too big to manage" banks on Wall Street have completely lost control of their due diligence.

TARP Can't Save Some Banks

Readers: This is in effect an admission that the way that the TARP process was managed was fraudulent.

By DAVID ENRICH

U.S. regulators have seized or threatened at least 27 banks that received capital infusions from the Troubled Asset Relief Program, including some lenders that government officials knew were troubled when they awarded the money.

JPMorgan Faces New Suit in Alabama County’s Woes, Round Two

Readers: this action shows that J.P.Morgan's effort to escape further prosecution has failed. We need a "perp-walk" on a large scale before this will even begin to be over. As long as their influence in politics is maintained such that the Wall Street centric policies are continued, we not see an end to the general decline in the US.

Jefferson County sues JP Morgan

By Jay Reeves • The Associated Press • November 14, 2009

Dutch Barter System Challenges Bankers; WARNING Dutch Guys Want To Print Their Own Funny Money

Readers: This is going to be a bit difficult to follow I expect, AND it seems like the most direct way that I can raise these issues about community currencies. This Dutch community currency is only a good example of a very shallow understanding of what is needed in the way of monetary reform. This is an example of the strong current of pop-economics within the conversations about community based currencies and exchange systems.

JPMorgan Ends SEC Alabama Swap Probe for $722 Million

Readers: the important part of this story is that J P Morgan chose to settle this case to make it go away. This usually means that if the discovery  and litigation processes had been allowed to continue, apparently JP Morgan's legal department thought that the damages and penalties could be much, much greater, including a lot of bad press, aka visibility. Given that JP Morgan's influence in Washington DC is very substantial, the crimes involved must have been huge, because otherwise they simply would have pulled the necessary strings to make this exposure to go away.

Goldman One-Ups Gordon Gekko, Says Jesus Embraced Greed: Griffiths Strkes Again

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Readers: the scatological references originate with the author not the admin of this site. That being said it seems to be a reasonable response to an extremely outrageous initiative by Goldman Sachs VP and advisor Griffiths. Please, look at the tri-fold flyer listed in the pamphlet and papers section titled "The Normalization of Usury." These people are way over the edge of even common sense.

 

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