Racketeering

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Towards A State Of Near Chaos...





The rise and persistence of Trump raises a more pertinent question: why are all the other candidates such obvious shills for the implacable engine of grift that is destroying the Republic? Why has nobody with the possible exception of Bernie Sanders, called bullshit on the basic operations of the machine? Why have no other persons of real stature stepped forward to challenge the suicidal dynamic of the age? I’m with those who think that the 2016 election campaign is going to be a wild spectacle beyond the current imaginings of news media. I’m serenely convinced that, among other things, the banking system is going to implode so hard and fast well before the nominating conventions that the nation will be in a state of near chaos. What’s out there now is just a tired dumb-show replaying the shopworn themes of an era that is about to slam to a close.

 
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Where Candidates Fear To Tread - Pervasive Racketeering Is Destroying America





In this moment of history there is an astounding lack of seriousness among people who pretend to be political heavyweights. No one so far has nailed a proper bill of grievances to the White House gate. A broad roster of dire issues facing this society ought to be self-evident. But since they are absent so far in the public discussion, here is our list of matters that serious candidates should dare to talk about (all things that a sitting president could take action on)...

 
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Putin Trolls Obama, Says FIFA's Blatter Deserves A Nobel Prize





Earlier today, it was Putin's turn to troll not only the DOJ, but also Barack Obama who is currently in Ethiopia as part of his African tour when in an interview aired by Swiss broadcaster RTS on Monday Putin said that Sepp Blatter deserves a Nobel Prize for his stewardship of soccer’s governing body. “I think people like Mr Blatter or the heads of big international sporting federations, or the Olympic Games, deserve special recognition. If there is anyone who deserves the Nobel Prize, it’s those people.”

 
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Systemic Turmoil, Structural Reform





In the natural course of things, structural reform can occur, but that natural course entails some degree of disorder and loss.

 
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Crossing The Event Horizon On 50 Years Of A Financially-Engineered Black Hole





"The net effect of all that will be the disappearance of nominal wealth — it crosses an event horizon into a black hole never to be seen again. The continent discovers it is a lot poorer than it thought. Fifty years of financial engineering comes to the grief it deserves for promoting the idea that it’s possible to get something for nothing."

 
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Awkward: Day After EPA Finds Fracking Does Not Pollute Water, Top Oil Regulator Resigns Over Water Contamination





Put this one in the awkward file: just hours after the EPA released yet another massive study (literally, at just under 1000 pages) which found no evidence that fracking led to widespread pollution of drinking water (an outcome welcome by the oil industry and its backers and criticized by environmental groups), the director of the California Department of Conservation,  which oversees the agency that regulates the state's oil and gas industry, resigned as the culmination of a scandal over the contamination of California's water supply by fracking wastewater dumping.

 
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Five Reasons Why America Is Done





"Until and unless we at least resolve all five of the following, and everyone involved wears an orange jumpsuit and has their corporate and institutional edifices closed down with the ill-gotten gains disbursed back to their victims we are, as a nation, DONE."

 
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FIFA "Rampant" Corruption Exposed Following DOJ Indictment, 14 Arrested In Swiss Hotel - FBI/DoJ Press Conference Live Feed





That FIFA has been a hotbed of corruption, shady backroom dealings and outright crime for years, has been known to anyone who has a passing interest in football. Which is why we were surprised to learn this morning that none other than the US Attorney General, seemingly content with all the wristslaps handed out to criminal US foreign banks (and subsequent SEC waivers) gave FIFA the red card in a charge detailing "rampant" corruption in international soccer hours after 14 officials were arrested on accusations of a 24-year scheme to enrich themselves through FIFA, whose office was searched in a series of dawn raids in Zurich.

 
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Paul Craig Roberts: "Our Soldiers Died For The Profits Of The Bankers"





Memorial Day commemorates soldiers killed in war. We are told that the war dead died for us and our freedom. US Marine General Smedley Butler challenged this view in 1933: "War is just a racket... our soldiers died for secret agendas of which they knew nothing. Capitalists hid their self-interests behind the flag, and our boys died for the One Percent’s bottom line. Our Soldiers Died for the Profits of the Bankers." It appears 82 years later - nothing has changed.

 
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The Informed Minority





The cynicism among the informed classes has never been so deep. Even the pompom boys in the cheerleading clubs like CNBC and The Wall Street Journal express wonderment at the levitation of stock indexes and bond values. They chatter about a “correction” of 20 percent being a healthful tonic that would clear away some dross and quickly usher in a new episode of “growth” — or growthiness, which, like truthiness, became an acceptable approximation of the real thing. The truth, as opposed to truthiness, is they no longer believe their own bullshit about growthiness. Behind the financial jitters of the informed minority is the greater fear of social unrest.

 
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Cop Sues NYPD Over Quotas, Slams The Racketeering Culture





"The culture is, you're not working unless you are writing summonses or arresting people...  Those tickets might look like productivity on paper... but they're not actually making anyone safer."

 
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Bank of America Revenue Drops, Misses Due To Declining Trading Revenues, Loan Creation And Net Interest Margin





One look at BofA's earnings report shows why contrary to popular opinion, the bank that bailed out insolvent Merrill Lynch is far better off to be pnealized with tens of billions in legal fees than running its business unbothered by the racketeering government. The reason: a year after BofA reported $6 billion in litigation charges, moments ago Bank of America announced only $0.4 billion in legal fees, which meant it barely had any credible addbacks. So when looking at its numbers on a realistic, GAAP basis, BofA once again missed EPS, with the bottom line printing at $0.27, or below the $0.29 estimate.

 
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CEO Planted Cocaine On Brother Then Paid Police $100K To Arrest Him





"People make the difference" at Knight Oil Tools where the "Knightmark" of "excellence, leadership, and integrity" was on full display last year when then-CEO Mark Knight planted drugs in his brother's car then paid police to arrest him... 

 
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Spin-O-Nomics In A World Of Unraveling Globalism





The USA set the tone for 21st century magical finance, in which “wealth” was “created” by digital accounting fraud. The effects at home are visible on our landscape of suburban hyperwaste and decrepitating older towns and cities.

 
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