Archive for the 'Elite' Category
The Slow Disappearance of the American Working Man
August 27th, 2011What’s the solution? Hmm. War: Now Even Better for Wiping Out Excess Men (and Women and Children and Elderly). Buy Now! Via: Business Week: A smaller share of men have jobs today than at any time since World War II As President Barack Obama puts together a new jobs plan to be revealed shortly after […]
Britain Will Take in Billions of Pounds from Taxes on Swiss Bank Accounts
August 25th, 2011Via: BBC: A UK government minister has defended a deal with the Swiss that could capture tax of up to £5bn but keep bank account holders’ identities secret. Undeclared money held by UK taxpayers in Swiss accounts will be taxed for the first time, at up to 34% of the total. Treasury minister David Gauke […]
Warren Buffett to Invest $5 Billion in Bank of America
August 25th, 2011Via: Reuters: Warren Buffett’s Berkshire Hathaway will invest $5 billion in Bank of America, stepping in to shore up the company in the same way he helped prop up Goldman Sachs during the financial crisis. Bank of America shares rose 24 percent to $8.65 in early trading, erasing a large part of the stock’s August […]
IKEA Founder Ingvar Kamprad Was Nazi Recruiter
August 25th, 2011Via: news.com.au: IKEA’S founder Ingvar Kamprad is many things. He’s a billionaire. He’s a frugal shopper. And according to a new book, he’s also in denial about his Nazi past. Author Elisabeth Asbrink says Mr Kamprad was such an enthusiastic supporter of the Swedish Nazi party that he recruited new members and “missed no opportunity […]
How to Get $12 Billion of Gold to Venezuela
August 24th, 2011I think the more immediate and pressing matter will be: How to Get $12 Billion of Gold in the First Place. Dear Leader Chavez doesn’t actually believe these banks actually kept all of Venezuela’s gold on hand, does he? He can’t be that stupid. So, I see this as a pretty cunning bit of economic […]
A Huge Housing Bargain — but Not for You
August 24th, 2011Via: The Street: The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors — vulture funds. These homes, which are now the property of the U.S. […]
Strauss-Kahn Criminal Sexual Assault Case Dropped
August 24th, 2011Via: Reuters: A New York judge dropped all criminal sexual assault charges against former IMF chief Dominique Strauss-Kahn on Tuesday, leaving him free to return to France and rebuild a shattered career. The decision ended a case that brought three months of sordid headlines on both sides of the Atlantic about a hotel maid who […]
New National Debt Data: It’s Growing About $3 Million a Minute
August 23rd, 2011Via: Los Angeles Times: Swallow all liquids in your mouth before reading any further. Updated numbers for the national debt are just out: It’s now $14,639,000,000,000. When Barack Obama took the oath of office twice on Jan. 20, 2009, CBS’ amazing number cruncher Mark Knoller reports, the national debt was $10,626,000,000,000. That means the debt […]
Blankfein Lawyers Up
August 23rd, 2011Luxury residence overlooking Central Park: $26 Million U.S. Taxpayer Bailout of Goldman Sachs: $10 Billion Criminal Defense Team Used by the Worst Corporate Scumbags: Priceless. (Or maybe just expensive, given the track record.) Via: Daily Beast: On Monday, Goldman shares took a 6 percent beating during final and extended trading hours on the announcement that […]
Wall Street Aristocracy Got $1.2 Trillion in Secret Fed Loans
August 22nd, 2011Via: Bloomberg: Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits. By 2008, the housing market’s collapse forced those companies to take more than […]
