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JPMorgan thinks it's time to demand more bailout money from the government again. (JPM CEO and Obama go way back, to the early 1990's in Chicago.) JPMorgan has lost at least $2 billion in deranged derivatives trades. Despite all the pretend reform by the government, nothing has changed on Wall Street and the feds [...] JP Morgan stock is crashing as a result and the rest of the financial worlds is nervous too. But fear not, JPM CEO Jamie Dimon is sure to call up his old Chicago pal Barack Obama and tell him to send more bailout money. Oh wait, didn’t JPM already get billions in bailout money? Apparently [...] Bet you didn’t hear much about “the howling protests of an angry mob” at the Bank of America protest in Charlotte NC yesterday, yes the same state where the Democratic Convention will be held and which just voted against same-sex marriage. The same sex marriage issue will generate an abundance of distraction running straight into [...] Iceland Map by Abraham Ortelius ca 1590 (Source: Wikimedia Commons) Every four years, residents of New Hampshire (population 1.3 million) are the focus of media attention as every want-to-be presidential hopeful comes to their state for the first primary of the year. Voters have a chance to meet the candidates face to face. For [...] Charles Hugh Smith details how crony capitalism benefits from our ever expanding central state. I recommend you read the whole article. There is a great irony in this concentration of power in the State: the power is concentrated to protect the citizenry from predation and exploitation, but that concentration becomes an irresistible attractor for all [...] Unfortunately, anger here against banks has had little effect, mainly because Obama hired the architects of the disaster to pretend to clean up the mess they made. In Iceland, banks are forgiving debt. This is because they have a government that genuinely responds to the demands of their people. In The US, the Home [...] Pushed by Silicon Valley lobbyists, the JOBS act exempts start-ups from independent accounting requirements for five years, loosens other rules, and insanely says that pre-prospectus presentations don’t have to be accurate or truthful. [...] In Why I am leaving Goldman Sachs, Greg Smith tells how the company apparently is solely focused on how it can best screw its clients. One of my cousins finds investors for small, private companies. He recently bemoaned that companies like Goldman are poisoning the well for everyone else, making start-up capital harder to raise, [...] Then we might have Rule of Law again. And that would just be so wrong.
Germany wants to make Greece an offer it can’t refuse, apparently. But this is just a bailout by another name, i.e. we’ll pay you to go. This solves none of the underlying problems and is typical for the incompetent criminal class that runs the international banking system. Their short-sighted greed is only exceeded by their [...] |  | ||||
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