Posts under ‘Corporate Welfare’

The Fed leaves rates unchanged. No criminal prosecution of MF Global. Matt Taibbi’s latest piece skewers B of A, calling it a “hurricane of fraud and theft”.

Factory orders fall 1%, ISM Services Index gains .5% to 57.3% both in January. The Fed overrules the FDIC allowing banks to pay dividends at our expense.

Richmond gains 9 in January to 12. The fraudclosure settlement is out to the State’s AG’s for consideration. Another whitewash and giveaway for the banksters.

November Consumer Credit jumps 10%, its largest advance sine 2001. A new credit already, is that even possible? Borrowing your way to prosperity doesn’t work.

The tab for the financial sector bailout 29.6 Trillion and counting according to the Levy Institute. Yet the regulators still do not enforce the rules or law.

Real estate prices fall again as per CoreLogic and LPS. The Fed rebuts Bloomberg denying that it made 7.7 trillion in sweetheart deal loans at taxpayer expense.

The Federal Reserve helps B of A move 53 trillion in largely unregulated derivatives to its FDIC insured division. If it goes bad us taxpayers are on the hook.

Uncle Warren bails out B of A. Der Speigal unloads on Wall Street and the government. Schwab sues B of A and Citigroup for fraud and racketeering, ouch.

Gold sells off hard after making nearly 1900/oz. Purchase mortgage activity hits a 15-year low. The CBO says don’t worry be happy, the deficits will disappear.

Mixed economic data to begin the week. The muck slinging involving the credit ratings agencies continues. The banks actually got 1.2 Trillion in bailouts.