There is a God alive and well in South Carolina!
Posted by Larry Doyle on June 23, 2014
Sense on Cents: One of the best lines I ever read in The Wall Street Journal was attributed to then CEO of First Boston Allen Wheat. When asked about a senior executive who had recently departed the firm, Wheat rhetorically inquired and responded, “How do you know when he is lying?” “His lips move.”
Regrettably, couldn’t we say the same about so many of our so called political and business leaders? I think there is little doubt.
Life in and around Washington, Wall Street, and elsewhere in America now seems much more to revolve around rationalization than integrity. With the media often complicit in allowing the lying to go fully unchecked, our society suffers. Against this backdrop, I am very excited to pick up a copy of a book scheduled to be released tomorrow entitled 935 Lies: The Future of Truth and the Decline of America’s Moral Integrity written by a new Sense on Cents favorite but longstanding journalistic giant Charles Lewis. Continue reading
Populist consensus – “The issue is the Republican Party has been paying way too much attention to Wall Street and not enough attention to Main Street,” Mr. Brat said.
See also: http://www.senseoncents.com/2014/06/how-are-people-tweeting-dave-brats-victory-over-eric-cantor/
Blackstone bet big on Majority Leader Cantor and lost
Majority Leader Eric Cantor was handed a shocking upsetdefeat Tuesday night, but he didn’t go down alone –Blackstone Group (BX) bet big on the moderate establishment Republican and now that investment is down the tubes, as Cantor is now on a path to private citizenship.
Washington and the Republican machine are still reeling after the second-most powerful man in the House was dethroned by a tea party Republican primary challenger who was outraised in funding 25 to 1 by the eight-term Cantor.
Of the more than $5 million Cantor spent defending his Richmond, Virginia district seat in the primary, a good chunk of that came from Blackstone, according to OpenSecrets.org. Cantor raised a total of $5.4 million.
Geithner should have gotten the boot a long time ago. His obvious prejudice against homeowners caused a huge hole in the recovery of the economy and added to the lack of confidence of the general public in the overall administration.
Truth, Geithner and The American Way
If Timmy thinks that the American people are just simply going buy the fake beans that he is selling that he “saved” the economy and “helped” the struggling homeowners that got screwed by the banks, then you will be waiting for the cows to come home. Obama Administration’s biggest mistake was to hire the same Citigroup deregulators in the cabinet to allow the banksters and hedge fund managers to continue to destroy the financial economy globally and help create a total distrust by the American people of the banks and the financial system.
When Timothy Geithner orchestrated the bankers’ bailout, giving them a ‘wall of money’ without accountability, and without matching funds for ordinary Americans suddenly facing foreclosure–Geithner took justice out of the American political economy.
Hence the title.
If Geithner’s book “Stress Test” becomes the definitive history of the financial crisis–or even is…
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Couple this with judges and politicians that are heavily invested in Wall Street and scared to death that they’ll be ruined and no retirement – just like millions of government , corporate and union employees already have been, and the millions of construction workers and baby boomers that invested in real estate and lost everything they thought they’d have for retirement. They don’t realize that they can’t save themselves – and that’s probably why a lot of them have been divesting and dumping bank stocks.
Distressed Homeowners Need Lots of Help
“The government’s response to the foreclosure crisis is the equivalent of trying to put out a forest fire with an eye dropper.” — Senator Elizabeth Warren
While the foreclosure crisis continues to ravage communities around the country there’s a pressing need for homeowner education and empowerment. Maegan Nikolic, a single mom in Whittier California, can attest to that. Since 2010 she’s been run through the foreclosure wringer. She’s woken up to find notices of default tacked on to her door, hired a succession of lawyers to try and find some way to resolve the mess but at every turn ran into a brick wall. After the tears, the stress, the overwhelming anxiety Maegan with her small boy in tow and threatened with a forcible eviction left her house of 17 years.
Maegan’s story has been distilled down to a statistic; one that shows up…
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Neither jail nor fines will curtail the corruption. The courts must confiscate and invalidate the patents if we are to see any improvement.
Memo to DOJ: Iceland had no problem jailing banksters. Take note.
12 December 2013 Last updated at 13:32 ET
Four former bosses from the Icelandic bank Kaupthing have been sentenced to between three and five years in prison.
They are the former chief executive, the chairman of the board, one of the majority owners and the chief executive of the Luxembourg branch.
They were accused of hiding the fact that a Qatari investor bought a stake in the firm with money lent – illegally – by the bank itself.
Kaupthing collapsed in 2008 under the weight of huge debts.
For years, Kaupthing and other Icelandic banks had aggressively pursued overseas expansion plans, but when they went into administration, they brought the country’s economy to its knees.
Just a few weeks before the collapse, Kaupthing announced that Sheikh Mohammed Bin Khalifa Bin Hamad al-Thani had bought a 5.1% stake during…
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Banksters have been delusional for quite some time. The problem is the disease is contagious especially in judicial and political circles.
Banksters Pretend that Prosecuting Wall Street Crime Will Blow Up the Economy
Banksters Pretend that Prosecuting Wall Street Crime Will Blow Up the EconomyThe Department of Justice is “considering” initiating criminal charges against 2 banks.
In response, the normal cast of characters is saying – as they have for years – that prosecuting banks will cause ameltdown of the economy.
The U.S. attorney for the Southern District of New York recently mocked the silly claims of gloom and doom:
“Companies, especially financial institutions, will do almost anything to avoid a tough enforcement action and therefore have a natural and powerful incentive to make prosecutors believe that death or dire consequences await,” he said. “I have heard assertions made with great force and passion that if we take any criminal action, the skies will darken; the oceans will rise; nuclear winter will be upon us; and the…
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Deadly Clear 