Financial Crisis

[midas]

spot the double standard...................

A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives.

http://dealbook.nyti...s-at-mf-global/

compared to..

Aaron Swartz committed suicide yesterday, Jan 11. He was 26. He played a big part in stopping SOPA in its tracks.

Swartz was a prodigy computer science whiz (co-developer of RSS — at 14 years of age ) and information-should-be-free activist who was facing up to 35 years in jail for downloading the JSTOR archive of about 4.8 million documents.

Cory Doctorow, a science fiction author and an online activist, posted a tribute to Mr. Swartz on the blog he co-edits, BoingBoing.

…Of the indictment, he said, “The fact that the U.S. legal apparatus decided he belonged behind bars for downloading scholarly articles without permission is as neat an indictment of our age — and validation of his struggle — as you could ask for.”

http://www.balloon-j...swartz-is-dead/

I agree the MF Global case stinks to high heavenNow I'm going to play devil's advocate regarding Swartz. 1) He hacked a database (illegal) and downloaded copyrighted work without paying (illegal). 2) you seem to disregard the relevance of the phrase "UP TO" in "up to 35 years in prison". (I personally believe his crime is worth a max of 5 years. but who am i.)

kblaze you are welcome to play devils advocate but in relation to your 1) please just read the tribute that the Economist wrote about him and tell me if you really believe his motives were based on anything other than social justice ? Regarding his " crime " i lean towards these sentiments :-

" Lessig, a well-known web theorist and academic, as well as Mr Swartz's friend and mentor, thought that the evidence was enough to demonstrate that his protegé's act

was wrong, morally if not legally, but

deserved only minor punishment.

Alex Stamos, who was to testify as an expert witness for the defence,

described it

as "inconsiderate", not criminal.

"

http://www.economist...ng-aaron-swartz

but the banksters ........oh no they are ALWAYS too big to jail

" State and federal authorities decided against indicting HSBC in a money-laundering case over concerns that criminal charges could jeopardize one of the world’s largest banks and ultimately destabilize the global financial system. "

http://dealbook.nyti...ney-laundering/

Edited January 14, 2013 by midas

[midas]

Midas I still don't get your post here, can you elaborate how the Syrian Conflict, NATO, USA have to do with China wanting war?;

"Sorry, but based on the disgusting duplicity by NATO and USA in the Syrian conflict, I have no confidence whatsoever that it simply comes down to China not wanting a war.

It's whether those stoking the fire achieve their aims or not"

because US and NATO are clearly fanning the flames by arming the opposition in Syria ( some of whom are al-Qaeda )

and they are fanning the flames between Japan and China in a similar way. If Japan keeps up its agressive stance China will be forced to act eventually

U.S. Stoking China-Japan Tensions Over Islands

http://rickrozoff.wo...s-over-islands/

Edited January 14, 2013 by midas

[Naam]

but the banksters ........oh no they are ALWAYS too big to jail

when Midas is right, he is right! MF Global and Corzine are indeed hard evidence.

[mccw]

Greece situation hotting up:

A gunman opened fire on the headquarters of Greeces ruling New Democracy party in a seemingly randomized shooting spree. The building was empty at the time of the attack, but one round hit the office where the Greek PM sometimes works.

Spokesperson for the Greek government Simos Kedikoglou told press that no party members were in the building at the time of the attack and that one of the stray bullets had hit the window of the office where the Prime Minister occasionally works.

Minister Antonis Samaras spends most of his time in a different office in the center of Athens.

"Of course there could have been (victims). There could have been a cleaner in the prime minister's office or a security guard at the site," Kedikoglou said. He stressed that the government will take every action necessary to safeguard our democracy."

Police immediately cordoned off the area around the Greek capitals crowded Syngrou Avenue, to the South of the city center.

According to police reports, two men emerged from a vehicle on Syngrou Avenue and one opened fire on the New Democracy Partys headquarters with a Kalashnikov.

Police are now investigating a stolen burnt out car that they suspect to be the vehicle used in the incident.

No group or political organization has yet claimed responsibility for the attack, but it comes off the back of a wave of attacks on New Democracy officers with firebombs over the weekend.

Similarly, on Friday unidentified assailants reportedly threw the homemade incendiary devices into the homes of five Greek journalists working for state media. Government spokesperson Kedikoglous brother was also targeted in the spate of attacks, sparking a sharp condemnation from the Greek government.

-RT

[mccw]

"""To force the Obama administration to cut spending, some House Republicans have advocated allowing the US to fall into default or shut down the government. By running out of money, the US would be unable to pay its bills as early as mid-February.

Some Republicans on Monday expressed their intentions to send the country into default if significant spending isnt cut soon. The government could run out of cash as early as February 15 but partisanship is preventing the parties from agreeing on a deficit-reduction plan to keep the US economy going.

I think it is possible that we would shut down the government to make sure President Obama understands that were serious, House Republican Conference Chairwoman Cathy McMorris Rodgers told Politico. We always talk about whether or not were going to kick the can down the road. I think the mood is that weve come to the end of the road.

Gathering for private meetings, GOP leaders agreed that they consider it riskier to add to the US debt than undergo a default. Republican leadership officials said that more than half of their members are ready to let the country run out of money and shut down the government to have their voices heard.

The President could absolutely never have to deal with the debt limit again. It will just require him to get serious about spending cuts, Brendan Buck, spokesman for House Speaker John Boehner, R-Ohio, wrote in a tweet.

President Obama addressed the issue during a news conference Monday, outlining the bills that would be left unpaid if the country were to fall into default.

If congressional Republicans refuse to pay Americas bills on time, Social Security checks and veterans benefits will be delayed, Obama said. We might not be able to pay our troops, or honor our contracts with small business owners. Food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldnt get their paychecks.

Between Feb. 15 and March 15, the government will receive $277 billion in revenue and face $452 billion in bills that it would not be able to pay unless it increases the debt ceiling and/or cuts spending. Those who rely on government programs, such as Social Security recipients, veterans, and the poor, would be cut off from receiving aid and government employees would not be able to work. Interest rates would rise, the nations credit rating could be downgraded, and other countries would be less likely to trust the US financially.

Obama called the GOP stance on raising the debt ceiling irresponsible and absurd and pledged not to let Republican threats destroy the US economy and create a self-inflicted wound.

They will not collect ransom in exchange for not crashing the American economy, he said during his last news conference of his first term in office. The full faith and credit of the United States of America is not a bargaining chip. And they better decide quickly because time is running short."""-rt

Quite apart from the Washington extremes, from this crash the gov republicanism to the democrats trillion dollar coins, did any else find this little snippet from Obama slightly worrying ", specialists who track down loose nuclear materials wouldnt get their paychecks" - what's all this "loose nucular materia"l he's talking about?! Do they regularly miss place fuel rods or toxic waste or something?

[midas]

but the banksters ........oh no they are ALWAYS too big to jail

when Midas is right, he is right! MF Global and Corzine are indeed hard evidence.

But why haven't the people shown more outrage? The government that was in charge at that time not only failed to prosecute these criminals but were themselves engaged in a whole series of sleazy circumstances ( one example the fast and furious debacle ).

So even if you gave the Obama regime the benefit of the doubt and said they were not actually complicit in the MF Global fraud, they were certainly guilty of a cover up at least because Joe Biden openly admitted on camera that he fully supported Jon Corzine. But what do the people do-they vote them back in again?

Look at Italy! An already convicted tax fraudster is now facing entirely different criminal charges and he asks the court case be put on hold to pursue his political aspirations.? !!!Why do they keep regurgitating this guy – there must ONE OTHER PERSON in the whole of Italy who can do this job?

Sometimes I really feel I do need to seek professional help because I wonder if I'm living in a real world or Alice’s world?

Edited January 15, 2013 by midas

[midas]

Bankia worthless says new report

Bankia’s shareholders have received a nasty new year’s surprise. They may lose most of their investments or even all of them says the Spanish bank rescue fund in its latest report.

http://www.euronews....ays-new-report/

Edited January 15, 2013 by midas

[Naam]

Bankia worthless says new report

Bankia’s shareholders have received a nasty new year’s surprise. They may lose most of their investments or even all of them says the Spanish bank rescue fund in its latest report.

http://www.euronews....ays-new-report/

the first i saw the Bankia building i was telling my wife "only an insane investor would entrust insane bankers with any amount of money!"

[Naam]

but the banksters ........oh no they are ALWAYS too big to jail

when Midas is right, he is right! MF Global and Corzine are indeed hard evidence.

But why haven't the people shown more outrage? The government that was in charge at that time not only failed to prosecute these criminals but were themselves engaged in a whole series of sleazy circumstances ( one example the fast and furious debacle ).

So even if you gave the Obama regime the benefit of the doubt and said they were not actually complicit in the MF Global fraud, they were certainly guilty of a cover up at least because Joe Biden openly admitted on camera that he fully supported Jon Corzine. But what do the people do-they vote them back in again?

Look at Italy! An already convicted tax fraudster is now facing entirely different criminal charges and he asks the court case be put on hold to pursue his political aspirations.? !!!Why do they keep regurgitating this guy – there must ONE OTHER PERSON in the whole of Italy who can do this job?

Sometimes I really feel I do need to seek professional help because I wonder if I'm living in a real world or Alice’s world?

i can only say that the MF Global scandal, respectively its "outcome", is far beyond my comprehension.

as far as Italy and "Ber-Lust-Coni' is concerned the choice is with the Italian people.

[mania]

Geez USD>THB = 29.9x TT Rate

[midas]

but the banksters ........oh no they are ALWAYS too big to jail

when Midas is right, he is right! MF Global and Corzine are indeed hard evidence.

But why haven't the people shown more outrage? The government that was in charge at that time not only failed to prosecute these criminals but were themselves engaged in a whole series of sleazy circumstances ( one example the fast and furious debacle ).

So even if you gave the Obama regime the benefit of the doubt and said they were not actually complicit in the MF Global fraud, they were certainly guilty of a cover up at least because Joe Biden openly admitted on camera that he fully supported Jon Corzine. But what do the people do-they vote them back in again?

Look at Italy! An already convicted tax fraudster is now facing entirely different criminal charges and he asks the court case be put on hold to pursue his political aspirations.? !!!Why do they keep regurgitating this guy – there must ONE OTHER PERSON in the whole of Italy who can do this job?

Sometimes I really feel I do need to seek professional help because I wonder if I'm living in a real world or Alice’s world?

i can only say that the MF Global scandal, respectively its "outcome", is far beyond my comprehension.

as far as Italy and "Ber-Lust-Coni' is concerned the choice is with the Italian people.

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”

― Edward L. Bernays, Propaganda

Edited January 15, 2013 by midas

[yoshiwara]

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”

― Edward L. Bernays, Propaganda

Scraping the barrel with out of date conspiracy junk from 1928.

[midas]

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”

― Edward L. Bernays, Propaganda

Scraping the barrel with out of date conspiracy junk from 1928.

oh dear yoshiwara you are even more naive than i thought you were

http://en.wikipedia.org/wiki/Edward_Bernays

[yoshiwara]

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country. ...We are governed, our minds are molded, our tastes formed, our ideas suggested, largely by men we have never heard of. This is a logical result of the way in which our democratic society is organized. Vast numbers of human beings must cooperate in this manner if they are to live together as a smoothly functioning society. ...In almost every act of our daily lives, whether in the sphere of politics or business, in our social conduct or our ethical thinking, we are dominated by the relatively small number of persons...who understand the mental processes and social patterns of the masses. It is they who pull the wires which control the public mind.”

― Edward L. Bernays, Propaganda

Scraping the barrel with out of date conspiracy junk from 1928.

oh dear yoshiwara you are even more naive than i thought you were

http://en.wikipedia..../Edward_Bernays

....and a silly moustache.

[midas]

But why haven't the people shown more outrage? The government that was in charge at that time not only failed to prosecute these criminals but were themselves engaged in a whole series of sleazy circumstances ( one example the fast and furious debacle ).

So even if you gave the Obama regime the benefit of the doubt and said they were not actually complicit in the MF Global fraud, they were certainly guilty of a cover up at least because Joe Biden openly admitted on camera that he fully supported Jon Corzine. But what do the people do-they vote them back in again?

Look at Italy! An already convicted tax fraudster is now facing entirely different criminal charges and he asks the court case be put on hold to pursue his political aspirations.? !!!Why do they keep regurgitating this guy – there must ONE OTHER PERSON in the whole of Italy who can do this job?

Sometimes I really feel I do need to seek professional help because I wonder if I'm living in a real world or Alice’s world?

i can only say that the MF Global scandal, respectively its "outcome", is far beyond my comprehension.

as far as Italy and "Ber-Lust-Coni' is concerned the choice is with the Italian people.

i think this is spot on

I'd suggest all of these factors (and probably a few I haven't thought of) have increasingly

made us a nation ruled not by laws, but by politics (and by aspiring politicians). And once criminality is influenced primarily by politics, we're all just potential criminals.

my added note ( and criminals are sent to private prisons owned by aspiring politicians )

http://www.huffingto...html?1358359916

Edited January 18, 2013 by midas

[yoshiwara]

But why haven't the people shown more outrage? The government that was in charge at that time not only failed to prosecute these criminals but were themselves engaged in a whole series of sleazy circumstances ( one example the fast and furious debacle ).

So even if you gave the Obama regime the benefit of the doubt and said they were not actually complicit in the MF Global fraud, they were certainly guilty of a cover up at least because Joe Biden openly admitted on camera that he fully supported Jon Corzine. But what do the people do-they vote them back in again?

Look at Italy! An already convicted tax fraudster is now facing entirely different criminal charges and he asks the court case be put on hold to pursue his political aspirations.? !!!Why do they keep regurgitating this guy – there must ONE OTHER PERSON in the whole of Italy who can do this job?

Sometimes I really feel I do need to seek professional help because I wonder if I'm living in a real world or Alice’s world?

i can only say that the MF Global scandal, respectively its "outcome", is far beyond my comprehension.

as far as Italy and "Ber-Lust-Coni' is concerned the choice is with the Italian people.

i think this is spot on

I'd suggest all of these factors (and probably a few I haven't thought of) have increasingly

made us a nation ruled not by laws, but by politics (and by aspiring politicians). And once criminality is influenced primarily by politics, we're all just potential criminals.

my added note ( and criminals are sent to private prisons owned by aspiring politicians )

http://www.huffingto...html?1358359916

What on earth is the point of all this rambling nonsense. Maybe its a puff for Berlusconi?

[midas]

i can only say that the MF Global scandal, respectively its "outcome", is far beyond my comprehension.

as far as Italy and "Ber-Lust-Coni' is concerned the choice is with the Italian people.

i think this is spot on

I'd suggest all of these factors (and probably a few I haven't thought of) have increasingly

made us a nation ruled not by laws, but by politics (and by aspiring politicians). And once criminality is influenced primarily by politics, we're all just potential criminals.

my added note ( and criminals are sent to private prisons owned by aspiring politicians )

http://www.huffingto...html?1358359916

What on earth is the point of all this rambling nonsense. Maybe its a puff for Berlusconi?

many of use here ask " What on earth is the point of Yoshiwara "?

[midas]

US Federal Reserve 'underestimated financial crisis'

Ben Shalom Bernanke next to appear on Oprah to confess everything

http://www.bbc.co.uk...siness-21092849

Edited January 19, 2013 by midas

[lannarebirth]

He may take Italy down with him, but what a way to go.

Edited January 19, 2013 by lannarebirth

[lannarebirth]

but the banksters ........oh no they are ALWAYS too big to jail

when Midas is right, he is right! MF Global and Corzine are indeed hard evidence.

I had imagined Corzine would be indicted and that through lawyer tactics the trial would be delayed as long as possible, he would be ultimately convicted to a term not befitting his crime and then at the end of his 2nd term, before Corzine had ever served even a single day in jail, Obama would pardon him. It would appear they're not going after him at all and he is just about the lowest of the low hanging fruit to be indicted on Wall Street. Crime pays and dam_n well.

[Naam]

He may take Italy down with him, but what a way to go.

[midas]

not surprising !

Massive Fraud in Spain Threatens Entire Government of Prime Minister Mariano Rajoy; Protestors in Madrid Shout "Resignation"

http://globaleconomicanalysis.blogspot.com/2013/01/massive-fraud-in-spain-threatens-entire.html#uwvHfLtdHmrUsT8x.99

[Naam]

not surprising !

Massive Fraud in Spain Threatens Entire Government of Prime Minister Mariano Rajoy; Protestors in Madrid Shout "Resignation"

http://globaleconomi...fLtdHmrUsT8x.99

I am piecing together a story of fraud and corruption involving the highest levels of Spanish government. My unnamed sources think...

my "unnamed sources" think that Mish is piecing together his usual gloom&doom spin

[midas]

It's pretty clear by the number of protesters starting to amass that the Spanish people are angry. This Luis Bárcenas not only mysteriously acquired €22 million but he really shot himself in the foot when he only declared €10 million for tax purposes! And then they impose austerity measures on the public.

As Lanna said " crime does pay "

Protests erupt as Spanish court reveals ex-treasurer had millions in Swiss account

http://www.presstv.ir/detail/2013/01/19/284376/protests-erupt-as-spanish-court-reveals-extreasurer-had-millions-in-swiss-account/

[yoshiwara]

It's pretty clear by the number of protesters starting to amass that the Spanish people are angry. This Luis Bárcenas not only mysteriously acquired €22 million but he really shot himself in the foot when he only declared €10 million for tax purposes! And then they impose austerity measures on the public.

As Lanna said " crime does pay "

Protests erupt as Spanish court reveals ex-treasurer had millions in Swiss account

http://www.presstv.i...-swiss-account/

The Spanish people? Who they? The public sector unions organising the many protests to avoid restructuring? Same crap in Greece.

Angry buys you nothing, but the gold bug websites peddle further endless rubbish that society is breaking down, currencies are worthless and (wait for it) only gold can save you. So they think that any sign of civil unrest is in their favour rah rah rah.

[midas]

It's pretty clear by the number of protesters starting to amass that the Spanish people are angry. This Luis Bárcenas not only mysteriously acquired €22 million but he really shot himself in the foot when he only declared €10 million for tax purposes! And then they impose austerity measures on the public.

As Lanna said " crime does pay "

Protests erupt as Spanish court reveals ex-treasurer had millions in Swiss account

http://www.presstv.i...-swiss-account/

The Spanish people? Who they? The public sector unions organising the many protests to avoid restructuring? Same crap in Greece.

Angry buys you nothing, but the gold bug websites peddle further endless rubbish that society is breaking down, currencies are worthless and (wait for it) only gold can save you. So they think that any sign of civil unrest is in their favour rah rah rah.

it says so much about you that you seem totally unconcerned about the degree of criminality which is occurring all around us daily

[Naam]

It's pretty clear by the number of protesters starting to amass that the Spanish people are angry. This Luis Bárcenas not only mysteriously acquired €22 million but he really shot himself in the foot when he only declared €10 million for tax purposes! And then they impose austerity measures on the public.

As Lanna said " crime does pay "

Protests erupt as Spanish court reveals ex-treasurer had millions in Swiss account

http://www.presstv.i...-swiss-account/

The Spanish people? Who they? The public sector unions organising the many protests to avoid restructuring? Same crap in Greece.

Angry buys you nothing, but the gold bug websites peddle further endless rubbish that society is breaking down, currencies are worthless and (wait for it) only gold can save you. So they think that any sign of civil unrest is in their favour rah rah rah.

it says so much about you that you seem totally unconcerned about the degree of criminality which is occurring all around us daily

concerned or unconcerned, what difference does any concern achieve?

[Kwasaki]

concerned or unconcerned, what difference does any concern achieve?

? " concerned " = uchers / twiching / rise in blood pressure for some.

? " unconcerned " = callousness / heartless etc ..........

[midas]

It's pretty clear by the number of protesters starting to amass that the Spanish people are angry. This Luis Bárcenas not only mysteriously acquired €22 million but he really shot himself in the foot when he only declared €10 million for tax purposes! And then they impose austerity measures on the public.

As Lanna said " crime does pay "

Protests erupt as Spanish court reveals ex-treasurer had millions in Swiss account

http://www.presstv.i...-swiss-account/

The Spanish people? Who they? The public sector unions organising the many protests to avoid restructuring? Same crap in Greece.

Angry buys you nothing, but the gold bug websites peddle further endless rubbish that society is breaking down, currencies are worthless and (wait for it) only gold can save you. So they think that any sign of civil unrest is in their favour rah rah rah.

it says so much about you that you seem totally unconcerned about the degree of criminality which is occurring all around us daily

concerned or unconcerned, what difference does any concern achieve?

for those who hold an " i am alright Jack " attitude........ nothing at all

[Naam]

concerned or unconcerned, what difference does any concern achieve?

for those who hold an " i am alright Jack " attitude........ nothing at all

do others get a kick out of it? i mean others besides you! that you get a kick out of it is a well known fact.