New Merrill Lynch disclosure shines a perjurious light on Ben Bernanke’s sworn testimony.
Honesty is for the little people.
SEC, Fed alerted by Merrill of Lehman balance sheet games in March 2008
So which theory is it: stunning bureaucratic incompetence, wishful thinking and denial? Or a cover up? Or a combination of the above?
I vote for open corruption. [...]
Posts Tagged ‘banksters’
Bankster news
Wachovia to pay $160 for money-laundering $420 billion in drug money
The fine is a minor slap on the wrist. And it avoids criminal prosecution against the bank. Of course no one there any clue how this happened and promises to take remedial action.
Asked if Wachovia knew it was drug money, [DEA Special Agent] Trouville said, “I don’t think I can comment on whether Wachovia knew [...]
Return the Rule of Law to Wall Street says Sen. Kaufman
Sen. Kaufman’s speech. More excerpts
Mr. President, it is high time that we return the rule of law to Wall Street, which has been seriously eroded by the deregulatory mindset that captured our regulatory agencies over the past 30 years, a process I described at length in my speech on the floor last Thursday. We [...]
Sen. Kaufman stands against the criminality and banksters
Zero Hedge
Only a few days have passed since its release, and already the Mainstream Media has forgotten all about the Lehman Examiner Report, with barely an occasional mention. As the CJR points out, this unquestionably massive story of corruption and vice, is being covered up by powered interests controlling all the major news outlets, because [...]
Lehman and fraud at the highest levels of business and government
If you’ve missed this breaking story of Enron-like proportions, here’s a summary:
The bankruptcy examiner report on Lehman says their then-CEO Dick Fuld was “at least grossly negligent” and that their auditor Ernst & Young could be accused of “professional malpractice.” They were cooking their books with fraudulent transactions worth $50 billion. Tim Geithner, who then [...]
Ratigan and Spitzer on Lehman: “One of the greatest crimes ever”
Visit msnbc.com for breaking news, world news, and news about the economy
Dylan Ratigan offered one of the best explanations we’ve seen of the Repo 105 practice on yesterday’s show. He concludes by noting that the report “stops just short of suggesting [the financial crisis and transfer of wealth from the bailouts was] by no means [...]
Lehman bankruptcy fraud report. Massive explosions already felt. More coming
We may actually see some banksters go to prison on the apparent massive Lehman fraud as detailed in the 2000 page report by the bankruptcy examiner. Not only does the report say then-CEO Dick Fuld was “at least grossly negligent,” it says their auditor Ernst & Young could be accused of “professional malpractice.” Then too, [...]
ECONned. How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism
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ECONned by Yves Smith of Naked Capitalism. Video by a friend of hers!
The Lehman Disclosure Hits just keep on coming
Here’s the background on this escalating story of greed, lying, and cover-ups.
The bankruptcy examiner for the Lehman Brothers bankruptcy says then-CEO Dick Fuld “was “at least grossly negligent” for letting Lehman file financial reports in which a key gauge of strength was ‘reverse-engineered’ through transactions known as Repo 105s” Further “Lehman auditor Ernst & [...]
NY Fed under Geithner implicated in Lehman accounting fraud
Emphasis added. This is a bombshell. Obama needs to fire Geithner or be assumed culpable himself.
Indeed, it was such common knowledge in the Lehman flailing about period that Lehman’s accounts were sus that Hank Paulson’s recent book mentions repeatedly that Lehman’s valuations were phony as if it were no big deal.
Well. it is folks, as [...]
Predatory capitalism goes wild
What happens when death becomes profitable? Like in buying specially-discounted bonds using a terminally ill person to get the discount. This happening. Now. What could possible go wrong (except if granny takes an unfortunate stumble down the stairs, that is…)
Senator Corker defends loan sharks. In a bizarre coincidence, they are major players in his state [...]
Europe and California to investment banks. Drop dead
L.A. and now Oakland have or will soon repudiate interest rate swaps made with investment banks
The basic idea: the city needs a break, and if Bank of New York Mellon doesn’t give them one, the city is ready to use the power of moving its business in order to get what it wants. It’s that [...]
The Federal Reserve is corrupt, says Nobel Laureate in economics
Joseph Stiglitz, “one of the most frequently cited economists in the world,” on CNBC.
“The regional reserve banks … has a key role in regulation and in the last crisis in bailing out the banks…but the heads of this organization are chosen by a committee dominated by the big banks that are being bailed out … [...]
Rising anger against banksters from the left and the right
The truth is that there’s an enormous amount of anger and frustration around the country. And it’s not right versus left. You know, the anger under the Tea Party movement is the same anger that Michael Moore is feeling. It’s the anger about the fact that what is happening is not fair, that the fix [...]
Dodd kills Volcker Rule and independent financial oversight
You know Sen. Dodd, right? The one who isn’t running again because he’s been involved in too many slimy financial deals for the voters of Connecticut to stomach? The one who pretends to champion the little guy and reform but who always – repeat always – reverses course and backs the banksters.
Now he’s saying that [...]
