At a certain point, we suppose Joe Biden took a look at the state of the 2016 race for The White House and thought: "why not me?"
The following story is guaranteed to make you sick. Once again, we’re shown that following trillions in taxpayer funded bailouts and backstops, TBTF Wall Street banks immediately went ahead and focused all their attention obtaining loopholes in order to transfer risk and make billions upon billions of dollars in the financial matrix, as opposed to adding any benefit whatsoever to society.
Americans, both the destitute and the destitute-in-waiting middle class do need a champion to forever improve their lives, or at least one to light up their torch of hope. But the senator from Vermont isn’t likely to become that champion, becoming instead the prophet heralding the advent of a savior for America’s democracy, national dignity and pride; in Christian-speak, Bernie is not a Jesus but a John the Baptist.
It’s not even “Too Big to Jail” any longer. It’s now, “Too Big to Lose Profits.” After all #banklivesmatter
Yesterday she faced the wrath of Hensarling and Duffy in her Congressional hearing, today Fed Chair Janet Yellen pops over to The Senate. We suspect the rhetoric will be a little less aggressive as traders are interested to see if she walks back her comments yesterday that appeared to signal more hawkish "sooner" rate hikes. Of course, the main event will be when Elizabeth Warren is unleashed...
After failing to criminally prosecute any of the financial firms responsible for the market collapse in 2008, former Attorney General Eric Holder is returning to Covington & Burling, a corporate law firm known for serving Wall Street clients. The move completes one of the more troubling trips through the revolving door for a cabinet secretary. Holder worked at Covington from 2001 right up to being sworn in as attorney general in Feburary 2009. And Covington literally kept an office empty for him, awaiting his return. When the firm moved to a new building last year, it kept an 11th-story corner office reserved for Holder.
U.S. President Barack Obama’s proposed ‘Trade’ deals are actually about whether the world is heading toward a dictatorial world government - a dictatorship by the hundred or so global super-rich who hold the controlling blocks of stock in the world’s largest international corporations - or else toward a democratic world government - which will be a global federation of free and independent states, much like the United States was at its founding, but global in extent. These are two opposite visions of world government; and Obama is clearly on the side of fascism, an international mega-corporate dictatorship... What’s at stake here is nothing less than whether the future of the United States, and perhaps even of the world, will be democracy, or else fascism.
SEC's Mary Jo White "Embodies, Promotes Wall Street-Regulator Revolving Door Policy", New Report FindsSubmitted by Tyler Durden on 06/16/2015 16:30 -0400
While we are now well aware of the unpatriotic-ness of tax inversions, Goldman Sachs raises the red flag on another corporate action that is about to become highly politicized - share buybacks. The last (and only) pillar of buying left in the US equity markets is set to draw political attention and likely to gain prominence, particularly ahead of the 2016 election.
If you still think that the establishment Republicans in Congress represent real opposition to President Obama’s policies, you’re either extremely brainwashed or extremely stupid. Honestly, we wonder what it will take for some people to wake up. How many times do you need to be used, abused and conned by slimy politicians before you can shake off your political Stockholm Syndrome? Today's example is from chief ObamaTrade proponent Paul Ryan who gaffed Pelosi-like when he admitted (with regard to the super-secret TPP) "It’s declassified and made public once it’s agreed to," in other words - “we have to pass the bill so that you can find out what is in it.”
Gold bugs weren’t wrong - just super early. If central banks ever got religion and pulled a Volcker and hiked rates to the moon, it would be a remarkably bad time to hold gold. However, throughout history, there have been times where people were very sad that they didn’t own gold. We talk about one of them here. It’s very real, and the history of fiat currencies is also quite sad.
Elizabeth Warren may or may not understand the "global banking system" as Jamie Dimon alleges, but the JPM CEO certainly does as the following 14 "reasons" clearly confirm...
The Department of Education says it will forgive federal student loans made to Corinthian Colleges students who can prove they were victims of fraud. The potential cost to taxpayers: nearly $4 billion. With the precedent thus set, the question now is whether continued pressure on for-profit colleges will result in further closures and more petitions from hundreds of thousands of students with hundreds of billions of loans they now know can be legally discharged.
If you think the corporate-fascist state is overbearing and oppressive now, you ain’t seen nothing yet.