Archive for the 'Elite' Category
Feds Probing JPMorgan Silver Trades
May 10th, 2010Via: New York Post: Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned. The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said. […]
Christian Right Leader George Rekers Takes Vacation with “Rent Boy”
May 10th, 2010Via: Miami New Times: On April 13, the “rent boy” (whom we’ll call Lucien) arrived at Miami International Airport on Iberian Airlines Flight 6123, after a ten-day, fully subsidized trip to Europe. He was soon followed out of customs by an old man with an atavistic mustache and a desperate blond comb-over, pushing an overburdened […]
Confetti Schredder Rally Time
May 10th, 2010UPDATE: FEDERAL RESERVE OPENS EMERGENCY CREDIT LINE TO EUROPE Via: AP: The Federal Reserve late Sunday opened a program to ship U.S. dollars to Europe in a move to head off a broader financial crisis on the continent. Other central banks, including the Bank of Canada, the Bank of England, the European Central Bank, the […]
EU Crafts $928 Billion Loan Package in Attempt to Halt Euro Decline
May 10th, 2010Via: Bloomberg: European finance ministers put together an unprecedented loan package that may be worth 720 billion euros ($928 billion) for debt-swamped governments in a bid to restore faith in the euro and prevent Greece’s fiscal woes from unleashing a global crisis. Jolted into action by last week’s slide in the currency to a 14-month […]
EU Finance Chiefs Race to Ready Euro Stability Fund for Monday Morning
May 9th, 2010Via: Bloomberg: European Union finance ministers meet today to hammer out the details of an emergency fund to prevent a sovereign debt crisis from shattering confidence in the 11- year-old euro. Jolted into action by last week’s slide in the currency to the lowest in 14 months and soaring bond yields in Portugal and Spain, […]
KBR to Get No-Bid Army Contract Worth $568 Million as Justice Department Pursues Lawsuit Over Kickbacks
May 9th, 2010Via: Bloomberg: KBR Inc. was selected for a no-bid contract worth as much as $568 million through 2011 for military support services in Iraq, the Army said. The Army announced its decision yesterday only hours after the Justice Department said it will pursue a lawsuit accusing the Houston-based company of taking kickbacks from two subcontractors […]
SEC Said to Probe Causes, Exploitation of Stock-Market Turmoil
May 7th, 2010Maybe Captain Obvious dropped in at the SEC this morning. Via: Bloomberg: U.S. regulators plan to examine whether securities professionals triggered yesterday’s stock- market plunge or exploited the turmoil to profit illegally, two people with direct knowledge of the matter said. The Securities and Exchange Commission aims to determine if market participants accidentally or maliciously […]
Plan for Congressional Audits of Fed Dies in Senate
May 7th, 2010Looks like that one thousand point pants shitter from yesterday sent a pretty clear message. Via: Wall Street Journal: Last-minute maneuvering in the Senate allowed the Federal Reserve to sidestep legislation that would have exposed its interest-rate decision-making to congressional auditors. Pressure from the Obama administration led Senate lawmakers to alter a provision pushed by […]
U.S. Government Now 96.5% of the Mortgage Market Q1, 2010
May 7th, 2010Via: Smirking Chimp: “Let nobody try and fool nobody else anymore. Fannie and Freddie have nothing to do with the less privileged: they are the ultimate tools for Washington to keep Wall Street alive.” “Not only would significantly lower home values put severe strains on the major banks’ balance sheets, they would also implode and […]
Whistleblower: BP Risks More Massive Catastrophes in Gulf
May 7th, 2010Via: Truthout: A former contractor who worked for BP claims the oil conglomerate broke federal laws and violated its own internal procedures by failing to maintain crucial safety and engineering documents related to one of the firms other deepwater production projects in the Gulf of Mexico, according to internal emails and other documents obtained by […]
