Archive for the 'Elite' Category
Legislation Seeks to Wall Off Derivative Trading from Bank Depositors’ Money
April 15th, 2010Via: Bloomberg: Goldman Sachs Group Inc., JPMorgan Chase & Co. and their biggest rivals would be forced to wall off derivatives trading operations from their commercial banks under a measure to be introduced by Senate Agriculture Committee Chairman Blanche Lincoln, a congressional aide said. Lincoln, an Arkansas Democrat, will propose a “no-bailout provision” as part […]
Fed Shouldn’t Reveal Crisis Loans, Banks Vow to Tell High Court
April 14th, 2010Via: Bloomberg: The biggest U.S. commercial banks will take their fight against disclosure of Federal Reserve lending in 2008 to the Supreme Court if necessary, the top lawyer for an industry-owned group said. Continued legal appeals will delay or block the first public look at details of the central bank’s $2 trillion in emergency lending […]
IMF Executive Board Approves Ten Fold Expansion of Fund’s Borrowing Arrangements Related to Financial Crisis Management
April 13th, 2010Can you feel the Recovery? Via: IMF: The Executive Board of the International Monetary Fund (IMF) today approved a ten-fold expansion of the Fund’s New Arrangements to Borrow (NAB) and the transformation of the Fund’s premier standing credit arrangement into a more flexible and effective tool of crisis management. The NAB will be increased by […]
Britain Is In A Far Worse Financial Crisis Than Many Realise
April 13th, 2010Via: Independent: In the past week our politicians have put on their most serious faces and addressed the economy. They have got into a wrangle about National Insurance contributions. Labour wants to increase them; the Tories don’t. A lot of heat has been generated, much ink spilt. What it suits none of them to tell […]
The World’s Biggest Arms-Makers
April 13th, 2010I guessed that the top spot would be held by Lockheed, and by a large margin. Nope. Via: Economist: BAE Systems, a British firm, took the top spot as the world’s largest arms manufacturer in 2008. This is largely because the company has pursued a strategy of expanding the American side of its business in […]
Washington Mutual Created ‘Mortgage Time Bomb’
April 13th, 2010Perhaps the Racketeer Influenced and Corrupt Organizations Act should be related reading for this story: The Racketeer Influenced and Corrupt Organizations Act (commonly referred to as RICO Act or RICO) is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an […]
Lehman Channeled Risks Through Cutout
April 13th, 2010Some of this, the MO in particular, will seem very familiar to long time Cryptogon readers… Via: New York Times: It was like a hidden passage on Wall Street, a secret channel that enabled billions of dollars to flow through Lehman Brothers, Louise Story and Eric Dash write in The New York Times. In the […]
The Cove
April 12th, 2010I just saw The Cove. It’s worth a look on several levels. On the DVD, the “extra features” are really good too—must see for anyone who eats larger, predatory fish. Hint: You’re poisoning yourself.
Newstralia?
April 11th, 2010You laugh, but: Common Border for Australia and New Zealand. Via: BBC: That subject turns out to be the suicide of New Zealand. No not suicide in New Zealand but a proposal to cash in the country’s independence and become instead, the seventh state of the Australian commonwealth. An opinion poll has suggested that no […]
Occupied Washington DC
April 11th, 2010Via: After Downing Street: As a visitor to our nation’s capital, I cannot tell you how disconcerting it is to step off the metro and find yourself face to face with a F-35 fighter jet. Where you would normally expect to find ads for cell phones or museum exhibitions, Washington’s subway, the second busiest in […]
