• Bruce Krasting
    12/18/2014 - 21:42
      The one thing that Jordan can't do in this war is appear to be weak.

Department of Justice

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How Wal-Mart Fabricated And Lied About Its "Strong" Chinese Sales For Years





For many, if not most, companies and especially retailers, the great wildcard that is the "massive" Chinese market with the potential of hundreds of millions of buyers in the country's nascent middle class, has been a slam dunk when it comes to boosting stock prices. After all, what can go wrong? America's largest retailer was one of those hoping to capitalize on just this shareholder euphoria for Chinese exposure, and just like everyone else, it milked its Chinese exposure for many years. And then, unexpected everything did go wrong: as Bloomberg explains, "After years of heralding China as one of its best markets, Wal-Mart in August said its performance there was among the worst in its major countries." How is that possible? Read on to find out how Wal-Mart fabricated, lied and misled investors for years using every single trick in the book and then some.

 
williambanzai7's picture

ToRTuRiNG JuSTiCe...





Justice out of a job...

 
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Twitter "Hedge Fund Manager" Anthony Davian Sentenced To 4 Years 9 Months In Federal Prison





Over a year ago we reported that one of Twitter early and most aggressive self-promoters, Anthony Davian, was busted for what was at the time financial Twitters' the first Ponzi Scheme.  Today, we can close the case on Athony Davian. As SIRF reports, "Anthony Davian, a once-prolific presence on social media who held himself out as a iconoclastic hedge fund manager prior to his August 2013 indictment on a series of fraud charges, was sentenced several hours ago in a Cleveland courtroom to four years and nine months in federal prison."

 
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The Tragedy Of Propping Up The Matrix Of Lies





All of this mighty, tragic effort to prop up a matrix of lies might have gone into a set of activities aimed at preserving the project of remaining civilized. But that would have required the dismantling of rackets such as agri-business, big-box commerce, the medical-hostage game, the Happy Motoring channel-stuffing scam, the suburban sprawl “industry,” and the higher ed loan swindle. All of these evil systems have to go and must be replaced by more straightforward and honest endeavors aimed at growing food, doing trade, healing people, traveling, building places worth living in, and learning useful things.

 
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5 Reasons The Halliburton-Baker Hughes Deal Is Poisoned





Halliburton’s takeover of Baker Hughes is setting out to be the oil and gas merger of the year. One of the largest such deals in years, it has not, however, met with unanimous approval. From antitrust concerns to management frictions and negative market forces, this has not been a smooth ride. And with a $3.5 billion break-up fee promised to Baker Hughes by Halliburton should the merger fall through, failure would come at a hefty price. Here are five reasons why the deal might still capsize.

 
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How The IRS & Homeland Security Are Expanding Undercover Work





“There is a danger to democracy,” a Supreme Court spokesman said, “in having police infiltrate protests when there isn’t a reasonable basis to suspect criminality.” "It is impossible to tell how effective the government’s operations are or evaluate whether the benefits outweigh the costs, since little information about them is publicly disclosed." Just another day in the American oligarchy.

 
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America Truly Is Becoming A '1984' Society





If only George Orwell could see us today.  When he wrote “1984” back in 1948, he probably never imagined that the “totalitarian, bureaucratic world” that he imagined would ever actually become a reality.  But that is precisely what is happening. The control freaks that run our society are absolutely obsessed with watching, tracking, recording and monitoring virtually everything that we do.  We truly are becoming a “1984” society, and if we continue on the path that we are currently on eventually our world will be transformed into something more hellish than anything that George Orwell ever imagined.

 
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Missouri Governor Declares State Of Emergency, Activates National Guard Ahead Of Michael Brown Shooting Verdict





"I, JEREMIAH W. (JAY) NIXON, GOVERNOR OF THE STATE OF MISSOURI, by virtue of the authority vested in me by the Constitution and Laws of the State of Missouri, including Sections 44.010 through 44.130, RSMo, do hereby declare a State of Emergency exists in the State of Missouri.

I further direct the Missouri State Highway Patrol together with the St. Louis County Police Department and the St. Louis Metropolitan Police Department to operate as a Unified Command to protect civil rights and ensure public safety in the City of Ferguson and the St. Louis region."

 
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Meet The (First) Seven Banks Who Rigged The FX Market





  • Barclays PLC
  • HSBC Holdings PLC
  • Royal Bank of Scotland Group PLC
  • UBS AG
  • Citigroup
  • J.P. Morgan Chase
  • Bank of America Corp. Bank of America
 
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Why Matt Taibbi Thinks This Woman Is JPMorgan's "Worst Nightmare"





In reality, there is nothing surprising in Matt Taibbi's latest piece since returning to Rolling Stone from the Intercept, as it tells a story everyone is by now is all too familiar with: a former bank employee (in this case Alayne Fleischmann) who was a worker in a bank's (in this case JPM) mortgage operations group, where she observed and engaged in what she describes as "massive criminal securities fraud" and who was fired after trying to bring the attention of those above her to said "criminal" activity. The story doesn't stop there, and as Carmen Segarra already showed, when she revealed that Goldman runs the NY Fed, once Alayne was let go and tried to "whistleblow" on the house of Jimon from the outside, she found the that US Department of Justice headed by Eric Holder is just as, if not more, corrupt, and in his desperate attempt to prevent discovery and bring JPM et al to justice, he would stretch the statue of limitations on frauds committed during the crisis long enough to where nobody had any legal recourse any more, up to and including the US taxpayer.

 
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Frontrunning: November 4





  • Republicans expect gains, but many races close on election day (Reuters)
  • Ahead of tough election, White House blames dismay with Washington (Reuters)
  • On Election Day, a Tale of the Young and the Old (WSJ)
  • Because the recovery: Sprint to Cut 2,000 Jobs as Mobile Customers Keep Leaving (BBG)
  • Ukraine's rebel leader is sworn in, crisis deepens (Reuters)
  • Brilliant: Burkina Faso Army Promises Religious Leaders It Will Step Down (BBG)
  • More Unknowns Leave Central Banks Facing Greater Internal Strife (BBG)
  • Scapegoat found: IBM to Change Leadership at Global Services Unit (WSJ)
  • Explains why Europe just slashed its GDP forecast: Don’t Be Fooled by Warm Spell as Cold Air About to Return (BBG)
 
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Ally Financial (Formerly GMAC) Admits DoJ Subpoenas On Mortgage-Related Activities





If yesterday's Citi debacle was a buying opportunity (which it is according to the pre-market), then news that Ally Financial (formerly GMAC) is under regulatory and DoJ investigation must be great news:

*ALLY CITES REQUEST FROM SEC ON SUBPRIME AUTO FINANCE PROBE & MORTGAGE-BACKED SECURITIES; REQUESTS INCLUDE SUBPOENAS FROM DOJ

Of course, do not forget that GM itself recently admitted to the DoJ probing its subprime auto loan underwriting practices. But, but, but - isn't this exactly what FHFA's Mel Watt wants?

 
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