After flubbing two of its most high-profile prosecutions in recent memory, the UK’s Serious Fraud Office is preparing for the opening of one of its biggest cases in years: The prosecution of four senior Barclays executives over allegations of fraud and abuse dating back to the depths of the financial crisis. One of the enduring […]
Bernanke, Geithner, Paulson: The Fed Should Be Able to Make Secret Trillion Dollar Loans Again…
There seems to be a growing amount of concern these days about another epic financial crash on Wall Street. That, in itself, is a concern. After all, we’ve had only two great crashes in the past 89 years: one from 1929 to 1933 and one from 2008 to 2009. Why is another crash on the […]
A Decade After the Financial Meltdown, the SEC Still Hasn’t Passed Executive Compensation Rules…
Almost everyone got on board the reform train after the 2008 financial crisis. However, big business, and in particular the biggest banks, slammed the brakes on reforms that threatened to separate senior executives from their money that critics said incentivized excessive risk taking before the crisis. Almost all of the mandatory provisions of the law […]
DOJ Releases Emails of RBS Bankers Joking About Crashing Housing Market Before 2008…
Employees at the Royal Bank of Scotland (RBS) joked about crippling the U.S. housing market before the 2008 financial crisis, according to transcripts released by the Department of Justice (DOJ) last week. According to DOJ transcripts, senior staff described loans they were trading as “total f–king garbage.” DOJ also found that the Sottish bank’s chief […]
Eric Schneiderman Has Always Been a Con Man…
In November 2010, the Roosevelt Institute hosted an event in Washington taking a hard look at a strange phenomenon in U.S. housing. Banks, it appeared, were fabricating documents to pursue foreclosures under outrageous, chaotic circumstances ― not accepting mortgage payments, miscalculating debts, rewriting loan terms without consulting homeowners and trying to evict people who hadn’t […]
Schneiderman Let Clinton Foundation Skip Identifying Foreign Donors…
Iceland Declares 2008 Financial Crisis Finally Over…
The Iceland Ministry of Finance and Economic Affairs has announced that it will lift capital controls on individuals, firms, and pension funds that were imposed following the 2008 global financial crisis from 14 March. It also said that overseas krona holders will be allowed to resume transactions with the Central Bank under certain conditions over […]
FLASHBACK: Obama’s Big Bank ‘Slush Fund’ (MUST READ: Backstory)…
Soros Fears His ‘Open Society’ New World Order Vision Is Being Threatened…
Open societies are in crisis, and various forms of closed societies – from fascist dictatorships to mafia states – are on the rise. Because elected leaders failed to meet voters’ legitimate expectations and aspirations, electorates have become disenchanted with the prevailing versions of democracy and capitalism…
Eight Years After an Epic Banking Crash, America’s Biggest Threat Is Still Its Banks…
In 1934 the U.S. had 14,146 commercial banks holding insured deposits. By 1985, that number had barely budged, standing at 14,417. Then came the Bill Clinton administration in the 1990s and its reckless and unprecedented banking deregulation which allowed the giant Wall Street banks to swallow up, or drive out of business, thousands of banks […]