Posted on February 7, 2015 by willyloman
by David Dayden, New Republic
Citigroup is one of three Wall Street banks attempting to keep hidden their practice of paying executives multimillion-dollar awards for entering government service. In letters delivered to the Securities and Exchange Commission (SEC) over the last month, Citi, Goldman Sachs and Morgan Stanley seek exemption from a shareholder proposal, filed by the AFL-CIO labor coalition, which would force them to identify all executives eligible for these financial rewards, and the specific dollar amounts at stake. Critics argue these “golden parachutes” ensure more financial insiders in policy positions and favorable treatment toward Wall Street.
“As shareholders of these banks, we want to know how much money we have promised to give away to senior executives if they take government jobs,” said AFL-CIO President Richard Trumka in a statement. “It’s a simple question, but the banks don’t want to answer it. What are they trying to hide?”
These payments are routine at major banks, several of which have explicit policies, found in filings with the SEC, outlining automatic awards for executives who rotate into government. Goldman Sachs offers “a lump sum cash payment” for government service, for example.
[read more here]
Filed under: Banking Heist, Fake Banker Pay Limits, Fake Banking Reform, Fascism, fascism in America | 4 Comments »
Posted on December 19, 2014 by willyloman
by Zach Carter, Huffington Post
Christmas came early for Wall Street this year. The Federal Reserve on Thursday granted banks an extra year to comply with a key provision of the Volcker Rule, a move that gives financial lobbyists more time to kill the new regulation before it goes into effect.
The Volcker Rule is a key element of the 2010 Dodd-Frank financial reform law that bans banks from engaging in proprietary trading — speculative deals that are designed only to benefit the bank itself, rather than its clients. Thursday’s move by the Fed gives banks an additional year to unwind investments in private equity firms, hedge funds and specialty securities projects. The central bank also said it plans to extend the deadline by another 12 months next year, which would give Wall Street a two-year reprieve through the 2016 presidential election.
The Fed’s delay comes less than a week after Congress granted Wall Street a reprieve from another reform that had been mandated by the 2010 Dodd-Frank financial reform law. The measure, known as the swaps push-out rule had eliminated federal subsidies for trading in risky derivatives — the complex contracts at the heart of the 2008 banking meltdown. Bank watchdogs say the Volcker Rule delay adds insult to injury.
[read more here]
Filed under: Banking Heist, class warfare, destabizing america, disaster capitalism, Economic Crisis ie. Disaster Capitalism, economic terrorism, Fake Banking Reform, fascism in America, Globalization, Neoliberalizing America | Leave a comment »
Posted on December 13, 2012 by willyloman
by Scott Creighton
We’ve seen this before: the economic powers that be went to congress and the MSM back in late 2008 and threatened Armageddon if we didn’t give them what they wanted: our money. They effectively held the economy of the United States hostage and threatened to pull the trigger if they weren’t paid $780 billion in cash. Turns out, the fed gave them far more than that in secret backdoor loans, but the story is still the same; we were subjected to economic terrorism in which our leaders, the same leaders who boasted they will never give into terrorist threats, caved in immediately and went on a PR campaign pushing the TARP bailout package like their lives depended on it.
Now we have the same thing happening. The “fiscal cliff” boogeyman is the same as the “Ruskies” of old or the “turrurrrurrists’ of today. It’s terrorism pure and simple.
When you threaten people with the fear of death, starvation and chaos in order to advance a change in either the political (like we did to Libya and currently are doing to Syria and Iran) or economic structure of a nation, that is defined as “Terrorism” and that is exactly what is being done to us right now.
Who says so? Some conspiracy theorist whack-job wing-nutter?
No. A seated U.S. senator from Iowa said that.
Filed under: Banking Heist, Economic Crisis ie. Disaster Capitalism, economic terrorism, Fake Banking Reform, Neoliberalizing America, Scott Creighton | 3 Comments »
Posted on October 29, 2012 by willyloman
Greek police have arrested one of the country’s top journalists, after his publication Hot Doc released the so-called ‘Lagarde list,’ containing the names of some 2,000 Greeks with funds hidden in Swiss bank accounts.
The police arrested Kostas Vaxevanis, the owner and editor of Hot Doc, during a live radio interview on Sunday. “They’re entering my house with the prosecutor right now. They are arresting me. Spread the word,” Vaxevanis tweeted.
He is due to appear in court on Monday to answer charges of privacy violations from publishing the list of names, which dates to 2007. “Instead of arresting the tax evaders and the ministers who had the list in their hands, they are trying to arrest the truth and free journalism,” Vaxevanis said in an interview.
[read the rest, here]
Filed under: Banking Heist, Economic Crisis ie. Disaster Capitalism, economic terrorism, Fake Banker Pay Limits, Fake Banking Reform, Globalization, Neoliberalizing Greece, Protests in Greece, Riots in Greece | 2 Comments »
Posted on September 30, 2012 by willyloman
by Scott Creighton
UPDATE 3: “The French, Spanish and Greek governments all announced multibillion-euro austerity plans yesterday in the face of massive popular opposition.”
UPDATE 2: Slavery in the UK. The unemployed are being forced to work for major British corporations, for free, just so they can continue to receive their unemployment benefits. This plan is the same as one attempted here in the states, one that still has a great deal of support in congress. Imagine the profits retailers could pocket if they got free seasonal workers during the holiday buying season.
UPDATE: In Dubai, one of our close economic allies, they call slave owners “sponsors” and fine their slaves if they attempt to take their own lives when the desperation of their true situation becomes too unbearable to live with.
“I found myself thrown away and I thought of my poor family back home. I felt desperate and decided I should die,” she said. The National
While Americans cheer for the return of zebra striped officials to the NFL games today, the Spanish, the Greeks and many others across Europe are fighting for their very lives and the freedom to determine the quality of them on their own. Our apparent lack of concern is understandable when you consider that what they are desperately struggling against is in a large part, our creation. Not only is Dr. Frankenstein disinterested in the harm his creation inflicts on the people around him by choice, but the townsfolk themselves willingly turn a blind eye and a deaf ear to the cries of their neighbors in nearby villages just so long as the monster feeds elsewhere.
Filed under: Banking Heist, class warfare, disaster capitalism, Economic Crisis ie. Disaster Capitalism, economic terrorism, Fake Democratic Elections, Fuck Obama, Global Free Market Wars, Globalist Clinton Scum, Globalization, Neoliberalizing America, Neoliberalizing Columbia, Neoliberalizing Greece, Neoliberalizing Iran, Neoliberalizing Israel, Neoliberalizing Libya, Neoliberalizing Michigan, Neoliberalizing New Jersey, Neoliberalizing New York, Neoliberalizing Russia, Neoliberalizing Spain, Neoliberalizing Syria, Obama™, Occupy Wall street, Protests in France, Protests in Greece, Protests in Spain, Public Private Partnership, Riots in Greece, Scott Creighton | 13 Comments »
Posted on August 11, 2012 by willyloman
by Scott Creighton
“Our society is run by insane people for insane objectives. I think we’re being run by maniacs for maniacal ends and I think I’m liable to be put away as insane for expressing that. That’s what’s insane about it.” John Lennon
Many people know that Wachovia Bank had to admit to laundering 378.4 billion dollars in drug money between 2004 and 2007 and that they paid a mere 160 million in fines to avoid prosecution. What they don’t know is that the money was from a drug cartel in Mexico that the DEA and the Justice department supported as part of a program called “Divide and Conquer” which was designed to weed all the other drug gangs out and leave the one cartel, our cartel, in place.
In short, our banks laundered the money while the government looked the other way or even helped the Sinaloa Cartel bring the drugs into Chicago (there’s that town again) while providing thousands of illegal weapons to the cartel under programs like “Fast and Furious” which they used to murder other drug lords, police, and everyday citizens (and more than a few journalists and politicians who dared to open their mouths).
Now to me, if it’s the US government providing the weapons, the logistics, the protection from prosecution, the lethal hits on the competition, and the resources to launder the cash, then it’s the US government who is actually the drug cartel with the Sinaloa’s providing nothing but cover.
I mean, after all, we are guarding the heroin fields in Afghanistan. Guess someone wants a monopoly on all the illicit drugs in the world just like they want a monopoly on the oil fields, healthcare, GMO corn, and the central banks.
Filed under: Banking Heist, CIA are the Real Terrorists, class warfare, Fake War on Drugs, Scott Creighton | 6 Comments »