Allen Stanford

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Frontrunning: June 15





  • Greece is Relevant: Central Banks Warn Greek-Led Euro Stress Threatens World (Bloomberg)
  • Greece is very Relevant: World Economies Prepare for Panic After Greek Polls (Reuters)
  • ECB's Draghi flags euro risks, spurs rate cut talk (Reuters)
  • And as usual, beggars can be choosers... Hollande Urges Common Euro Debt, Greater ECB Role (Reuters)
  • Wait and flee - Electoral uncertainty sends the economy into suspended animation (Economist)
  • The EU Smiled While Spain’s Banks Cooked the Books (Bloomberg)
  • Osborne’s £100bn Plan for UK Economy (FT)
  • Two Cheers for Britain’s Bank Reform Plans: Martin Wolf (FT)
  • BOJ Holds Policy Ahead of Greek Vote with Eye on Global Markets (Bloomberg)
  • China Hits Back at U.S. Criticisms at WTO (Reuters)
 
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Obama Advisor, And Goldman Sachs Client, Gene Sperling Filibusters CNBC With "Shared Sacrifice" Speech In Response To Ryan Budget





Earlier we shared some perspectives on the just released Ryan 2013 budget. Shortly thereafter it was the turn of Obama aide and National Economic Council director Gene Sperling to give his spin. In what can only be characterized as an epic filibuster of none other than CNBC, Sperling spoke in length, literally, about shared sacrifice, about how math fails to matter in a new normal (and nominal) world, how trillions and trilions in underfunded welfare benefits (which even Goldman sees as untenable) are really just a matter of perspective, but mostly about how net tax revenues running below debt issuance (as reported here yesterday) are 'viable.' We leave our readers to make up their own minds. We just want to add the following highlights from a Bloomberg October 2009 article, which just may provide some more color on where and what Mr. Sperling's true allegienaces are.

 
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Frontrunning: March 7





  • Key rate for $350 trillion market in limbo - Libor Links Deleted as U.K. Bank Group Backs Away From Rate (Bloomberg)
  • Rift Grows Between Germany's Bundesbank and ECB (Spiegel)
  • Athens issues threat to bond holdouts (FT)
  • SNB to Reveal Board Members’ Currency Transactions After Hildebrand Furor (Bloomberg)
  • Sarkozy Floats New Corporate Tax (WSJ)
  • Super Tuesday Ensures a GOP War of Attrition (WSJ)
  • Martin Wolf - The pain in Spain will test the euro (FT)
  • Refinancing Fees Are Reduced for Some F.H.A. Borrowers (NYT)
 
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Allen Stanford Found Guilty Of Being Not Too Big To Fail; In Other News Jon Corzine Walking Free





In case anyone cares:

  • ALLEN STANFORD FOUND GUILTY BY FEDERAL JURY IN HOUSTON - BBG
  • ALLEN STANFORD FOUND GUILTY ON 13 OF 14 CHARGES - BBG
  • STANFORD CONVICTED IN $7 BILLION INVESTMENT FRAUD SCHEME - BBG

Of course, his real crime was not realizing that if you are going to get busted for ponzinomics, you better make sure everyone goes down with you. In the meantime, rejoice, sheep, for the theater of Ponzi crime and punishment continues. Then again one wonders: why are the perpetrators of the biggest Ponzi of all time, i.e., the central bankers, walking free? Or Jon Corzine for that matter?

 
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Frontrunning: January 25





  • Angela Merkel casts doubt on saving Greece from financial meltdown (Guardian)
  • Germany Rejects ‘Indecent’ Call to ECB on Greece, Meister Says (Bloomberg)
  • Obama Calls for Higher Taxes on Wealthy (Bloomberg)
  • Fed set to push back timing of eventual rate hike (Reuters)
  • Recession Looms As UK Economy Shrinks By 0.2%, more than expected (SKY)
  • King Says BOE Can Increase Bond Purchases If Needed to Meet Inflation Goal (Bloomberg)
  • When One Quadrillion Yen is not enough: Japan's first trade deficit since 1980 raises debt doubts (Reuters)
  • Sarkozy to quit if he loses poll (FT)
  • U.S. Shifts Policy on Nuclear Pacts (WSJ)
  • ECB under pressure over Greek bond hit (FT)
 
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Allen Stanford Found in Virginia By FBI Agents





Presumably arrested although sources are unclear... maybe arresting FBI agents were on the political contribution list and looked the other way for 30 seconds.

 
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