Posts under ‘Corporate Welfare’

Never have so few, done so little, and made so much, while screwing so many. “On the Forbes list of rich people, you will find hedge fund managers in droves, but no one who made his money as a hedge fund client.”

A detailed look of the banks deliberate promotion of the sub-prime lending fraud and other credit bubble blowing strategies that ultimately precipitated the housing crash and financial crisis we have today.

A discussion of the roles played by the Federal Reserve, Congress, the banking sector and others in the current crises. Essentially they new it would end badly yet deliberately promoted and fostered it.

What we got was a 27.2% plunge in existing home sales to the lowest figure since 1999, when the NAR started keeping records, as sales hit 3.83 million units annualized. A record drop to a record low as months supply hit a record high of 12.5.

The Wall Street Journal is out with a piece showing that Primary Dealer Banks including Goldman Sachs Group Inc., Morgan Stanley, J.P. Morgan Chase & Co., Bank of America Corp. and Citigroup Inc. and others have been engaging in a fairly consistent strategy over the last 5-quarters, takes us back to the 4th quarter of 2008 at the height of the panic, to understate their debt levels by an average of 42% per quarter.

Despite two lawsuits filled by Bloomberg and the Fed fighting disclosure every step of the way, so much for then Treasury Secretary Hank Paulsons fine words regarding transparency, the Fed was forced to disclose exactly what it had done with some of our tax Dollars.

Lehman Brothers Bankruptcy Examiners Report, in a nutshell it is a parade of hubris, executive incompetence, accounting gimmicks, the use of derivatives to inflate the balance sheet

Our tax Dollars go down the rat hole to prop up failed institutions that engage in creative accounting rendering the whole idea of transparency laughable. 2-Years after the meltdown we still don’t have real financial reform and for the banks its business as usual. The collusion between Wall Street and Washington DC must end or [...]

Our huge socialist experiment attempting to prevent true price discovery and by implication real affordability through taxpayer funded market manipulation in an attempt to save the banksters from their own folly continues…. Some excerpts below. House Financial Services Committee Chairman Barney Frank wrote, “To save homes on a large scale, we must move past temporary [...]

f done with prior knowledge by Mr. Geithner apparently qualifies the transaction as criminal money laundering under Title 18