Archive for the 'Economy' Category
A Secretive Banking Elite Rules Trading in Derivatives
December 12th, 2010Via: New York Times: On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan. The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. […]
$150 Billion Budget Deficit Sets November Record
December 11th, 2010Green shoots, I tell you. Green shoots. Via: AP: The federal budget deficit rose to $150.4 billion last month, the largest November gap on record. And the government’s deficits are set to climb if Congress passes a tax-cut plan that’s estimated to cost $855 billion over two years. The Treasury Department says November’s budget gap […]
Bernard Madoff’s Son Mark Found Hanged
December 11th, 2010Update Via: Gothamist: Yesterday morning, the body of Mark Madoff was found hanging from a dog leash in his Soho apartment, while his two-year-old son was sleeping in another room. While no note was found, it’s believed the 46-year-old son of infamous Ponzi schemer Bernard Madoff committed suicide, based on desperate e-mails he sent to […]
No Escape from Sauron’s Ever-Watching Eye
December 11th, 2010Via: Technofascism Blog: When a man can’t put a simple roof over his head, trap and hunt game, grow food, defecate in a hole and raise and educate children without fending off an endless onslaught of permits, fees, licenses and hordes of heavily armed orcs, he is already living in Mordor and there truly is […]
Madoff Trustee Launches $19.6 Billion Lawsuit
December 11th, 2010Via: CBS News: As Saturday’s deadline looms to file claims in the recovery of assets from Bernard Madoff’s massive fraud, the trustee seeking money for the swindler’s victims has sued an Austrian banker, claiming she masterminded a 23-year conspiracy that facilitated Madoff’s Ponzi scheme and funneled billions of dollars into her “deliberately Byzantine” network of […]
Bogus Foreclosures
December 10th, 2010Via: AP: People have always loved to complain about their banks. The push-button circus that passes for customer service. The larding on of fees. But the false foreclosure cases are hardly the usual complaints. These homeowners paid their mortgages — or loan modifications — on time. Some even paid off their loans. Worse, those on […]
U.S. Real Estate Wreck to Continue
December 10th, 2010Via: Bloomberg: U.S. home values are poised to drop by more than $1.7 trillion this year amid rising foreclosures and the expiration of homebuyer tax credits, said Zillow Inc., a closely held provider of home price data. This year’s estimated decline, more than the $1.05 trillion drop in 2009, brings the loss since the June […]
Ron Paul, Author of ‘End the Fed,’ to Lead Panel Overseeing Central Bank
December 10th, 2010Hell, at this late stage of the game, why not? Via: Bloomberg: Representative Ron Paul, Texas Republican and author of “End the Fed,” will take control of the House subcommittee that oversees the Federal Reserve. House Financial Services chairman-elect Spencer Bachus, an Alabama Republican, selected Paul, 75, to lead the panel’s domestic monetary policy subcommittee […]
Video from London Riots
December 10th, 2010Related: Looks Like Prince Charles Soiled His Union Suit
Government Steals $190,040 from Brothers
December 9th, 2010Via: Chicago Tribune: The government is attempting to keep a little more than $190,000 it seized from two brothers after one of them was pulled over in a traffic stop that didn’t even result in a traffic ticket. Jesus Martinez, 27, had $190,040 in his possession when his pickup truck was stopped by an Aurora […]
