Most Buy Side managers have no idea about the disparate business models of the four largest US banks by assets.
To really appreciate “too big to fail,” you must first and foremost understand that it is a political concept that springs from a sense of liberal privilege and entitlement.
Society is about to turn decidedly against the Bankers
More than 100,000 protesters congregated at Democracy Monument in Bangkok yesterday to protest Thai PM Yingluck Shiniwatra’s consideration of an amnesty bill to pardon her banned brother Thaksin Shiniwatra, the former Thai PM ousted from the country in a 2006 coup.
TedBits - Newsletter
The Department of Justice’s (DOJ) latest civil suit against Bank of America (B of A) is an embarrassment of tragic proportions on multiple dimensions. We're "only" going to explore seven of its epic fails here. The two most obvious fails (except to most of the media, which failed to mention either) are that the DOJ has once again refused to prosecute either the elite bankers or bank that committed what the DOJ describes as massive frauds and that the DOJ has refused to bring even a civil suit against the senior officers of the banks despite filing a complaint that alleges facts showing that those officers committed multiple felonies that made them wealthy by causing massive harm to others. Those two fails should have been the lead in every article about the civil suit. There are many more...
A harbinger of what will happen to the Chairsatan perhaps? Or is this just a logical response of what the "other half" of the Fed, those who demanded an end to QE by the end of 2013, think about Bernanke's latest public statement. If Dick Fisher quits next, watch out.
Whether or not you believe PMs will serve as the ultimate store of wealth as the global fiat monetary system collapses should have absolutely no bearing on making the intelligent decision to remove your financial assets from under the domain and inevitable confiscation of global bankers and their State-run tyrannies. Independence Day is a fine day to start the process of taking back our freedoms from the tyrants that rule over us.
Through most of the 20th century, America led something of a charmed life, at least when compared with the disasters endured by almost every other major country. We became the richest and most powerful nation on earth, partly due to our own achievements and partly due to the mistakes of others. The public interpreted these decades of American power and prosperity as validation of our system of government and national leadership, and the technological effectiveness of our domestic propaganda machinery - our own American Pravda - has heightened this effect. Author James Bovard has described our society as an “attention deficit democracy,” and the speed with which important events are forgotten once the media loses interest might surprise George Orwell.
An increasing number of people have complained about governments and central banks in recent years, even using the word “tyranny” to describe them. They are, of course, called names in the establishment press: conspiracy theorists, mainly. Calling someone a name, however, does not erase their argument (at least not among rational people) and both the governments and the big banks stand accused. Up till now, however, these accusations were never accepted by the general public. The average guy really didn’t want to hear about the evils of government money. After all, that was the only thing he had ever used to buy food, clothes, gasoline, cars, and so on. He didn’t want to acknowledge the accusations because he feared what might happen to him without his usual money. Now, however, we have a brand new currency (called Bitcoin) available to us: something radically different. This gives us a new way to directly address the subject of monetary tyranny, providing a clear test for the governments and money masters of the world.
Witches Brew: Part 4 - Reality Bites
- The Specter of Things to Come
The road to ruin is on plain display and the playbook is easily seen at this juncture. Let’s take a look at how that playbook will unfold. Contrary to popular outrage of the SOLUTION being IMPOSED it is the correct one once the insured depositors where PROTECTED. In this edition the elites suffered FIRST followed by the private sector depositors who foolishly believed false BALANCE sheets which were POLITICALLY CORRECT but PRACTICALLY incorrect fictions approved by fiduciarily (regulations and regulators allowed ONGOING insolvent operations rather than protect the public by ending and prohibiting them) challenged governments (work for the banks and crony capitalists not for the public at large).
- Cyprus leader invites family firm probe (FT)
- How the Fed fueled an explosion in subprime auto loans (Reuters)
- Wal-Mart Customers Complain Bare Shelves Are Widespread (BBG)
- JC Penney CEO gets no bonus, stock award after dismal year (Reuters)
- New Bird Flu Virus Kills 2 in China, Sparking WHO Probe (BBG)
- Algorithms Play Matchmaker to Fight 7.7% U.S. Unemployment (BBG)
- Fed hawk Lacker and dove Evans face off over inflation (Reuters)
- Infamous silver market "cornerer" WH Hunt Becomes Billionaire on Bakken Oil After Bankruptcy (BBG)
- Japan Auto Sales Fall on Subsidy End as Korea Extends Drop (BBG)
- Black Hawks Near North Korea Show Risk in U.S. Command Shift (BBG)
- SEC Embraces Social Media (WSJ)
- Tesla Touts ‘True Out of Pocket’ Financing for Model S (BBG)
- U.K. Banks Try to Dodge Bonus Caps by Defining Risk-Taker (BBG)
If any person is too big to prosecute then your justice system is a sham, a lie, a farce, a joke, a bastardization of all that America used to stand for.
Yo Liz: Subsidies for the zombie banks total more than $3 annually for every dollar in income reported by the industry...
Though the banking elite are now increasingly being exposed for their criminal activities against humanity in their theft of citizens’ wealth, rarely is another one of their greatest transgressions, their theft of citizens’ minds and the process by which they target and transform young adults into docile, obedient creatures through institutional academia, ever discussed.