No, that can’t be, some say. The recession is clearly all the fault of the other political party. They are the evildoers. We are the good guys. Actually, no. When it comes to our economic crisis, which was triggered by the cratering of the subprime market, both parties share much blame. The policies and [...]
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As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail. And Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic [...] From a reader, on Lord James of the House of Lords saying ‘Foundation X’ wants to give £17 billion to the UK government. Dear Lord James: Could you please consider helping me to relocate some huge amount of money to your country. My name is Dr. Abraham Zongo, Foreign Remittance Director of the Paying Bank [...] It came up in Hansard (the minutes of the House of Lords) on Monday. Or is trying to buy the UK government. I swear to God I am not making this up. Here’s the transcript. Essentially, Lord James said that he had been approached by “Foundation X”: “For the past 20 weeks I have been [...] The Pennsylvania Attorney General has filed a lawsuit against a debt collection agency that held bogus hearings held in a room decorated to look like a court. “This is an unconscionable attempt to use fake court proceedings to deceive, mislead or frighten consumers into making payments or surrendering valuables to Unicredit without following lawful procedures [...] A friend of mine notes the wave of fraudulent foreclosures, foreclosures where firms simply faked the paperwork needed to prove they have standing to foreclose (that they actually own the mortgage.) There have been some moves to stem the fraud, not the least of which is by Florida’s Attorney General Bill McCollum, but those who [...] From Academy Award® nominated filmmaker, Charles Ferguson (“No End In Sight”), comes INSIDE JOB, the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs. Through extensive research and interviews [...] The first in hopefully a long line of criminals in expensive suits has pled guilty to fraud and conspiracy in a massive scam. His higher-ups had to know. They belong in prison too. Look, in the S&L debacle of the 1980′s, thousands of high-level executives went to prison. That needs to happen again. After they [...] Attorney General Jerry Brown promises more to come, including quite possibly criminal charges. Today, two former high-ranking CalPERS [the California public pension fund] officials were sued for fraud while acting as placement agents for investment firms wanting CalPERS to invest with them. Alfred R. Villalobos made $47 million doing this. “Villalobos spent tens of [...] Bloomberg As Wall Street bombshells go, the lawsuit that the Securities and Exchange Commission filed against Goldman Sachs Group Inc. is about as big as it gets. The lawsuit alleges Goldman devised a deliberate garbage can of securities for one client, Paulson and Co. (no relation) so they could short it, then got [...] |  | ||||
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