Barney Frank

Tyler Durden's picture

Frontrunning: August 31

  • Hilsenrath: Fed Appears to Hold Line on Rate Plan (WSJ)
  • Europe, Asia stocks set for worst monthly drop in three years on China, Fed (Reuters)
  • Beijing abandons large-scale share purchases (FT), if only for a few hours
  • China’s Next Problem: Paying for Its Stock-Market Bailout (WSJ)
  • Crises Put First Dents in Xi Jinping’s Power (WSJ)
  • Man Group’s China Chief Said to Assist Police in Probe (BBG)
Tyler Durden's picture

When Obama Talks About His "Massive Fight" With Wall Street, What Exactly Does He Refer To?

When Obama talks of a "massive fight" with Wall Street, is he referring to:

- the tens of billions in handouts handed to each and every bank, unleashing the age of socialized losses and privatized profits?
- the condification of the Too Big To Fail concept?
- presiding over a Department of "Justice" that openly admitted it would not prosecute certain bankers over fears of systemic collapse consequences, thus mathin up TBTF with Too Big To Prosecute?
- the implementation of Barney Frank which was supposed to rein in banks and instead had Citigroup lawyers and lobbysists write the language write the language in the Derivatives Swaps Out provision of the Omnibus bill as a result of $70.3 trillion in total Citigroup derivatives, which the bank knows will one day require another taxpayer bailout?

Tyler Durden's picture

Introducing Ghost Skyscrapers... In New York City

Manhattan has been transformed into nothing more than an oligarch playground, or as some call it, “Disneyland for Wall Street.” We have discussed at length the head-shakingly insane money-laundering inflows that are 'stashed' into NYC real estate but, as the following reports, one of the most shocking and disturbing revelations from that article was the fact that: "The Census Bureau estimates that 30 percent of all apartments in the quadrant from 49th to 70th Streets between Fifth and Park are vacant at least ten months a year." Forget China, ghost residences come to the US. Welcome to Planet Oligarchy, where empty skyscrapers loom over the hordes of freedom-hating, destitute slaves.

Tyler Durden's picture

"Stress Test" Reviewed: Tim Geithner Is "A Grifter, A Petty Con Artist"

Timothy Geithner is likely to go down in American history as one of the most dangerous, destructive cronies to have ever wielded government power. The man is so completely and totally full of shit it’s almost impossible not to notice. The last thing we’d ever want to do in our free time is read a lengthy book filled with Geithner lies and propaganda, so we owe a large debt of gratitude to former Congressional staffer Matt Stoller for doing it for us. Stoller simply tears Geither apart limb from limb, detailing obvious lies about the financial crisis, and even more interestingly, Geithner’s bizarre bio, replete with mysterious and inexplicable promotions into positions of power..."Geithner is at heart a grifter, a petty con artist with the right manners and breeding to lie at the top echelons of American finance..."

rcwhalen's picture

Are Large Cap Banks Ready to "Break Out?"

Bottom line for financials is that 2014 is looking to be a tough year, even if the Sell Side wants to believe that growing earnings is still possible on flat revenue

Tyler Durden's picture

Friday Humor: Barney Frank Joins CNBC

Presented with 'shockingly' no comment...

rcwhalen's picture

So Did US Housing Prices Really Go Up in 2012 and Why?

We all know that double digit inflation in HPA is not a good thing for the long term recovery of the housing market. 

Tyler Durden's picture

Guest Post: Is Democracy Possible In A Corrupt Society?

If the citizenry cannot dislodge a parasitic, predatory financial Aristocracy via elections, then "democracy" is merely a public-relations facade, a simulacra designed to create the illusion that the citizenry "have a voice" when in fact they are debt-serfs in a neofeudal State. When the Status Quo remains the same no matter who gets elected, democracy is a shamThe U.S. Status Quo is also like an iceberg: the visible 10% is what we're reassured "we" control, but the 90% that is completely out of our control is what matters. There is another dynamic in a facsimile democracy: the Tyranny of the Majority. When the Central State issues enough promises to enough people, the majority concludes that supporting the Status Quo, no matter how corrupt, venal, parasitic, unsustainable and dysfunctional it might be, is in their personal interests. In this facsimile democracy, citizenship has devolved to advocacy for a larger share of Federal government swag. Is Democracy Possible in a Corrupt Society? No, it is not. Our democracy is a PR sham.

Bruce Krasting's picture

Odds Go Up for Mortgage Mods Post Election

A hallmark of Obama’s second term will be wide scale mortgage debt relief.

Tyler Durden's picture

Guest Post: America’s Hijackers – Where Are They Now?

Spoiler Alert: They’re mostly still in office  (so much for building suspense).

On October 3, 2008, 338 elected officials (263 House reps, 74 Senators and 1 President) took it upon themselves to save America from certain financial doom by passing the Emergency Economic Stabilization Act of 2008, completely ignoring the will of the American people,  opting instead to fulfill a Thomas Jefferson prophesy:

“The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” 
~ Thomas Jefferson

Syndicate content
Do NOT follow this link or you will be banned from the site!