Time for a couple of videos, one on money being transferred from the TBTF banks and the other a summary of what the top 1% (including Goldman Sachs) have done to the finances and the economy of the world.
Bank Transfer Day Signals Backlash - ABC News
See the video here
Nail, Meet Hammer - Market Ticker
Seee the video here
And you must see the latest cartoons from Swarm USA. See Weekend Funnies here
3 COMMENTS:
Pretty soon the elderly will be joining ows...
New formula would reduce Social Security increases
New inflation measure would reduce Social Security benefit increases, raise taxes
Rep. Xavier Becerra, a California Democrat who serves on the
supercommittee, helped lead the fight over the summer against adopting
the chained CPI. But in an interview last week, he wouldn't rule out
supporting a package that included it.
"If you're going to simply
try to save money by changing the CPI, you can do that," Becerra said.
"But then be up front and tell seniors what you're doing. You're
throwing them under the bus to save money."
http://finance.yahoo.com/news/New-formula-would-reduce-apf-365864943.html
MF Signs Death Warrant for Short-Term Funding: William Cohan
Over the weekend, the Financial Times praised Corzine,
claiming that he “arguably” deserved “some respect” for
“thinking big.” This is pure bunk. All the mea culpas and
excuses in the world won’t change the fact that Corzine and
Flowers knew exactly the risks posed by the broken funding model
relied on by companies such as MF and Jefferies.
They decided to take the risk anyway. As a consequence,
about 3,000 MF Global employees will soon be out of work and
billions of dollars belonging to creditors and shareholders has
been lost.
Don’t worry about Corzine and Flowers, though, they still
have their hundreds of millions of dollars in previous winnings
socked away. Actually, come to think of it, they deserve to be
locked up.
http://www.bloomberg.com/news/2011-11-08/mf-signs-death-warrant-for-short-term-funding-commentary-by-william-cohan.html
Chris Hedges Statement @ Zuccotti Park
Goldman Sachs, which
received more subsidies and bailout-related funds than any other
investment bank because the Federal Reserve permitted it to become a
bank holding company under its “emergency situation,” has used billions
in taxpayer money to enrich itself and reward its top executives. It
handed its senior employees a staggering $18 billion in 2009, $16
billion in 2010 and $10 billion in 2011 in mega-bonuses. This massive
transfer of wealth upwards by the Bush and Obama administrations, now
estimated at $13 trillion to $14 trillion, went into the pockets of
those who carried out fraud and criminal activity rather than the
victims who lost their jobs, their savings and often their homes. Goldman Sachs is able to
carry out its malfeasance at home and in global markets because it has
former officials filtered throughout the government and lavishly funds
compliant politicians—including Barack Obama, who received $1 million
from employees at Goldman Sachs in 2008 when he ran for president.
These politicians, in return, permit Goldman Sachs to ignore security
laws that under a functioning judiciary system would see the firm
indicted for felony fraud.The Securities Act of 1933,
established in the wake of the massive fraud that pervaded the
securities market before the 1929 Crash, was written to ensure that
“any securities transactions are not based on fraudulent information or
practices.” The act “prohibits deceit, misrepresentation, and other
fraud in the sale of securities.” The subcommittee report indicates
that Goldman Sachs clearly broke security laws.http://www.itulip.com/forums/showthread.php/20846-Chris-Hedges-Statement-Zuccotti-Park
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