We must create a banking system that works for every American—not just Wall Street CEOs—and enact and strengthen reforms that will protect our economy from another massive collapse. Tulsi is a cosponsor of legislation such as the Return to Prudent Banking Act (H.R.381) and the 21st Century Glass-Steagall Act (H.R.3711) to help protect Americans from big banks’ roll of the financial dice. To help ensure the financial stability of our nation, Tulsi is continuing to fight against dangerous behavior on Wall Street where investors take big risks on the backs of American taxpayers. She has urged criminal investigations of Wall Street executives who take money from American taxpayers, such as what recently happened with Wells Fargo, the nation’s largest “too big to fail” bank.
Tag Archives: Great Depression
What Happened on Wall St. Ahead of the Crisis? We May Yet Find Out
New York Times
WILLIAM D. COHAN
The eighth anniversary of the 2008 financial crisis is almost upon us, making this as good a moment as any to take stock of how little we know still about the bad behavior and deception that occurred inside the big Wall Street banks that helped to cause it — and how little we may ever know.
A wave of settlements between Wall Street and the Justice Department and regulators resulted in fines in excess of $200 billion flowing from the shareholders of these firms into the coffers of the various federal and state government entities. These payments still feel to me more like extortion than justice. After all, if the prosecutorial arm of the federal government that regulates you demands a 10- or 11-figure payment, it seems pointless to argue. Continue reading
Libor Lies Revealed in Rigging of $300 Trillion Benchmark
No – we’re not making this up.
According to Bloomberg By Liam Vaughan & Gavin Finch – Jan 28, 2013: “The benchmark rate for more than $300 trillion of contracts was based on honesty. New evidence in banking’s biggest scandal shows traders took it as a license to cheat.” Graphic: Bloomberg Markets Continue reading
Peter Schiff: Catastrophic Economic Collapse Will Hit the U.S. Economy In 2013 or 2014
InvestmentWatch reported on the recent predictions of Peter Schiff. Economic Crisis: 2007 and 2013 – Peter Schiff: A Collapse Happened In 2008, But Even More Catastrophic Economic Collapse Will Hit the United States Economy In 2013 or 2014
“In 2006, when he faced off with many well known Titans of investing and warned of an impending financial disaster and economic collapse, Peter Schiff was laughed at by his colleagues.
He urged Americans to exit financial markets and take steps to protect themselves before the wealth held in their savings accounts, retirement investments and real estate was wiped out. Few listened…
Have We Reached A Tipping Point In The Financial System?
The DAILY SHEEPLE says:
“March and April 2013 may go down in history as the tipping point for the western financial system.
We have already seen:
- Lehman Brothers and many other financial firms collapse.
- $700 Billion in TARP funds arranged by banking insiders for banking insiders at the expense of US taxpayers. Continue reading
The mattress safe – the latest way to bank with confidence
Europeans are a stone’s throw across the pond and what happens there eventually, like the Beatles, happens here. Many in the Euro-zone are asking each other and themselves:
“Is your money safe in the bank? Obviously not if you deposited large sums in Cyprus – where the decision to raid savings accounts has rung alarm bells in other countries teetering on the bank bailout high-wire,” posts Giles Tremlett of the UK’s Guardian News. Continue reading