he Fed and the banking system have the unique power to create money as credit on their books, but this is not actually what is wrong with the banking scheme. The economy needs an expandable credit system and suffers recessions without it; and an expa
As the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon Corzine testified Thursday about the “last chaotic days” of MF Global, the trading firm that declared bankruptcy under his watch.
The bank appears to have tried to settle with the consumer to moot the case. That settlement may have mooted the underlying legal controversy but whether a fraud was committed upon the court is and should be an entirely separate matter.
on S. Corzine, the former U.S. senator and New Jersey governor who presided over the collapse of the commodities brokerage MF Global, says he cannot explain what happened to “many hundreds of millions of dollars” that the firm was holding for custome
From World War II until very recently, the West – specifically Europe and the United States – was on a course for greater centralization, greater integration, and greater economic intervention. But this consensus is breaking down.
What JP Morgan is claiming in the MF Global case is that the derivative trade (which is exactly what a "Repo to Maturity" trade is - it's a derivative) is entitled to preference in the case of MF Global over those who had cash there for safekeeping e
Bloomberg brings us details: "Paulson’s Advantage Plus Fund, which seeks to profit from corporate events such as takeovers and bankruptcies and uses leverage to amplify returns, declined 3.6 percent last month.
While the general media may be ignoring the latest peculiar twist on the "Occupy" theme, or in this case the "occupyourhomes.org", Bank of America is taking it quote seriously. As a reminder, "Tuesday, December 6th is the National Day of Action to st
Republicans blocked the efforts of California Gov. Jerry Brown to fix a budget crisis through more tax revenues. So his new plan is to go straight to voters in 2012.
In response to pressure from Wall Street, the White House and central banks drastically cut interest rates for currency swaps. This will flood world markets with more dollars and mean rising prices for every American at the grocery store.
Gold & silver get all the press, but copper is up as well.An old penny it worth more than double it's face value. But you can't melt down pennies,...YET.
(Reuters) - Regulators investigating the collapse of MF Global have determined that the firm combined money between securities and futures accounts owned by customers, and transferred funds outside the country to at least one entity, a source said on
This post will demonstrate – without getting into discussions of an “inside job” one way or the other – that the failure to hold a real 9/11 investigation is a core cause of our loss of our prosperity and freedom.
The conventional wisdom is that the USA is approaching a tipping point because about 48% of voters pay no federal income taxes or pay less in income taxes than what they receive in government benefits.
Panic Mode - Gary North on french-fried banks / Ron Paul Is Your Enemy- And government is your friend, according to the media. Article by Tom Woods / How To Control the World, Jesse Ventura / Openly Stealing Your Freedoms, Andrew Napolitano
In this press conference on December 1, 2011, Massachusetts Attorney General Martha Coakley announced that the commonwealth had filed a lawsuit against five major banks for engaging in unfair and deceptive practices in foreclosure, Attorney General
Just 7% of those who lost jobs after the financial crisis have returned to or exceeded their previous financial position and maintained their lifestyles. The vast majority say they have diminished lifestyles, and about 15% say the reduction in their
Blending governing with re-election politics, President Barack Obama roused a cheering northeast Pennsylvania crowd Wednesday as he warned of a "massive blow to the economy" if Republicans block a payroll tax extension.
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Economy - Economics USA
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Ernest Hancock
