Uncover the secretive realm of Private Equity (PE), a financial powerhouse born in the shadows of the ’40s. A power shift between fund managers and investors is shaking Wall Street, raising questions about market stability. đď¸ As the private equity scam unravels, risk transfers from elites to “mini-millionaires,” potentially triggering the next financial crisis. đ Stay vigilant to navigate this financial maze and safeguard your interests.
The more you know. . .
By Sydney Sullivan
Four astounding men, Gary Aguirre, Bill Black, Richard Bowen, and Michael Winston, are the founding members of the Bank Whistleblowers United. These well-educated men have the moral integrity and intelligence to see the damage Wall Street has caused and have devised a plan to prevent or at least reduce the frequency and harm of future economic crises.
We, as American citizens, know we have not recovered from the 2008 economic crisis as our present administration and Congressional leaders would like for us to believe. Although lots of warriors have stepped up to battle the banks, none have been as united or noteworthy as these four financial fraud-busting astronauts, venturing into a red banking hole existing in cyberspace which has been an arduous climb up-Hill (pun intended) to penetrate, decipher …and even more difficult to correct. Continue reading
Brandon L. Garrett is a specialist in corporate prosecution at the University of Virginia law school and author of the recent book “Too Big to Jail.” By Khue Bui for The New York Times
âWe have never hesitated to investigate and prosecute any individual, institution or organization that attempted to exploit our markets and take advantage of the American people,â Attorney General Eric H. Holder Jr. proclaimed this month when the Justice Department announced that Standard & Poorâs, the ratings agency, had agreed to pay $1.375 billion to settle civil charges that it inflated ratings on mortgage-backed securities at the heart of the financial crisis. Continue reading
In the New York Times – By ADAM LIPTAK
Published: December 16, 2013
WASHINGTON â It used to be common for the federal government to prosecute prominent people responsible for debacles that rattled the financial system. Michael R. Milken, the junk bond artist, went to prison in 1991; Charles H. Keating Jr., the face of the savings-and-loan crisis, pleaded guilty to four counts of fraud in 1999; and it looks like Jeffrey K. Skilling, the former chief executive of Enron, will be in prison until 2017. Continue reading
By FLOYD NORRIS
Itâs no fun to be a banker these days. It is not just the increased regulation. Itâs the lack of trust.
âAt what point does this stop?â asked Gary Lynch, the former director of enforcement for the Securities and Exchange Commission who has gone on to jobs with many leading Wall Street firms and is now global general counsel at Bank of America.
He was referring to the escalation in penalties being levied on banks, culminating in the $13 billion JPMorgan Chase was forced to pay for a series of transgressions. Continue reading
The U.S. House of Representatives voted last Wednesday to scale back a much-debated provision of the Dodd-Frank Wall Street reform law, handing bank lobbyists a token victory in their fight against the tougher rules. The much-debated provision centered around derivatives. Those fighting the foreclosure wars need not be told the “devil is in the derivatives.” Continue reading
The New York Times with an insightful review.
WEEK IN REVIEWÂ NOVEMBER 1, 2013 Â BYÂ ERIC OWLES
[Editors’ note: Please do not read this if you are a junior banker at Goldman Sachs.]
Sit back and enjoy eating your childrenâs Halloween candy. Looking ahead to next week, we face possible settlements for JPMorgan Chase and Steven Cohenâs hedge fund as well as Twitterâs initial public offering. Continue reading
“The Leveraged Buyout of America” by Ellen Brown, Author, Web of Debt, Public Bank Solution; President, Public Banking InstituteGiant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts.
They are systematically buying up or gaining control of the essential lifelines of the economy. How have they pulled this off, and where have they gotten the money? Continue reading
Deadly Clear 