published by Tom Sullivan on Sat, 2012-11-10 16:38
Greece’s market regulator said a ban on short-selling stocks could be lifted early if equities keep climbing, the government wins the next slice of European Union bailout money and banks are recapitalized.
published by Tom Sullivan on Fri, 2012-11-02 09:10
The bank's chief executive, David Duffy, confirmed that some of the €1bn of assets transferred from its balance sheet to its pension fund is helping to pay the "super-pensions" of former senior managers.
published by Tom Sullivan on Fri, 2012-10-19 08:03
European Union (EU) leaders have agreed to create a single supervisory body for eurozone banks next year, a crucial step in breaking the vicious circle between banks and sovereign governments, officials say.
published by Tom Sullivan on Mon, 2012-09-17 09:54
Tens of thousands of protesters from across Spain gathered in Madrid to decry austerity measures enacted by the government. Activists accused leaders of "destroying" Spain with brutal program cuts and tax hikes, aimed at avoiding an EU bailout.
published by Tom Sullivan on Fri, 2012-08-31 13:36
Eliot Spitzer — who built a reputation as the Sheriff of Wall Street for his zealous prosecutions of corporate crime as New Yorks attorney-general and then resigned as the states governor over revelations he had paid for prostitute, seemed to agree with Dylan Ratigan that the bank bailout amounts to Americas greatest theft and cover-up ever.
published by Tom Sullivan on Sun, 2012-07-22 12:39
Police have used rubber bullets and tear gas to disperse angry protesters thronging the streets of Spain. Dozens of people were injured and a number of activists detained during the latest nationwide anti-austerity demonstrations. In a major show of strength, hundreds of thousands have been taking part in the protests. People marched in 80 cities across the country to protest against more suffocating austerity which is to come. That's after the German Parliament gave the green light to the 100-billion Euro bailout for the country's battered banks.
published by Tom Sullivan on Mon, 2012-06-18 08:17
The International Monetary Fund and the European Union have pledged support to the next Greek government after parties that supported an IMF and EU-led bailout won a pivotal election.
European Union leaders urged the conservative New Democracy party and its likely coalition partner, the socialist Pasok party, to urgently form a new administration that can lead Greece out of its debt crisis.
Everyone wants a solution, so I will provide one. The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void. As no real assets are involved, merely gambling on notional values, the only major effect of closing out or netting all the swaps (mostly over-the-counter contracts between counter-parties) would be to take $230 trillion of leveraged risk out of the financial system. The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security.
Former Bundesbank board member Thilo Sarrazin has provoked outrage by arguing that Germany's euro policy is driven by a Holocaust guilt trip. He also said the single currency was always a bad idea. Does he have a point? Have your say.
I, Michael James, shall desist from the consumption of all food other than glucose and water until my people are granted their popular demand for a referendum on whether or not to remain within the Soviet European Union.
Goldman Sachs and the financial technocrats have taken over the European ship. Democracy has gone out the window, all in the name of keeping the central bank independent from the “abuses” of government. Yet the government is the people—or it should be. A democratically elected government represents the people. Europeans are being hoodwinked into relinquishing their cherished democracy to a rogue band of financial pirates, and the rest of the world is not far behind.
This video describes how banks are using CDS to destroy nations. Currently the bankers moved past Greece to Spain. England and America will be be on the chopping block as soon as they have dumped Italy and France by the wayside.
The Kiwibank & Japanese Model: Postal Banks to Serve Local Communities
Banking in post offices is not new. Many countries, including Germany, France, Italy, Japan, and New Zealand, have a long and successful history of it; and so does the United States. If the USPS added banking, it could use its own bank-generated credit to help relieve its debt problems. According to German researcher Margrit Kennedy, interest composes on average about 40% of the cost of all goods and services. That suggests that eliminating interest could reduce the USPS debt by about 40%.
Do you want to know what the future of America is going to look like? Just check out what is happening to Detroit. The city of Detroit was once one of the greatest industrial cities in the history of the world, but today it is a rotting, decaying, post-apocalyptic hellhole. Nearly half the men are unemployed, nearly half the population is functionally illiterate, more than half of the children are living in poverty and the city government is drowning in debt. As economic conditions have gotten worse, crime has absolutely exploded.
published by Tom Sullivan on Sat, 2011-12-31 10:10
The operation of the European Stability Mechanism is not subject to any form of oversight (independent or otherwise), nor is it judiciable by any national or supra-national court. In effect, the budgets of Europe’s nation states will be entirely in the hands of one single, unelected body that is accountable to no-one and has immunity from any and all legal action.
published by Tom Sullivan on Tue, 2011-12-20 08:58
The EU has failed to raise 200 billion euros to fund an IMF rescue loan for its indebted members. The sum was promised at a summit of EU leaders 10 days ago, and the fact that it has not materialized signals further rifts within the 27-member bloc.
The package European Union finance ministers have come up with is 50 billion euros short of what is deemed necessary to help debt-stricken nations avoid default.
He would allow banks to do look back trades every time they buy or sell shares for the 25 trillion dollars in assets they manage. He would allow Goldman Sachs to steal 100 million dollars a day in High Frequency Trades. He would not be satisfied that 30 trillion dollars had been stolen. He would send out signals saying ‘Steal every last penny. Steal it all.’ And that is what Obama has done.
published by Tom Sullivan on Wed, 2011-10-12 09:10
Max Keiser and co-host, Stacy Herbert, talk about Marie Antoinette's last words on a banner at the Chicago Board of Trade, Herman Cain's views on the 'unAmerican' protesters and a proposal for a Seal Team 6 to protect us from terrorist bankers.
Money has always been created and destroyed by the private banks. When the banks stop loaning money, the economy crashes. Banks make huge profits on the interest during booms and confiscate real assest when it busts. Possible Keynesian Solutions and Ideal Georgist/Biblical/Classical Solutions offered.
Obama’s solution for the Depression is supply-side economics, whose champions claim that if the government cuts taxes on the wealthy, then the wealthy will invest in new factories, and hire new workers, thereby producing tax revenue.
published by Tom Sullivan on Wed, 2011-08-17 13:28
Max Keiser and co-host, Stacy Herbert, observe the British shock that there is no society. In the second half of the show Max talks to former bank regulator, William K. Black about the absence of justice for banking crimes and whether or not the population plays a role in demanding this justice.
This site may contain copyrighted material, the use of which has not always been specifically authorised by the owner of the copyrighted work. We are making such material available in order to advance understanding of a range of issues, including but not limited to the environment, politics, human rights, economics, scientific research and social justice. As such, we believe this usage constitutes 'fair use' provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, any material on this site is distributed without profit to those who have expressed a prior interest in receiving this information for research and educational purposes.