Source: testosteronepit.com – For a while, rumor had it that banks weren’t lending, and that this was the reason the recovery has been so crummy and that businesses weren’t expanding and that jobs weren’t being created fast enough. There was no demand for loans, and banks were too tight with their lending standards. Or…
Senate Majority Leader Harry Reid did not bite his tongue in his description of Nevada rancher Cliven Bundy and his supporters Thursday. He called them “domestic terrorists.” Reid was speaking at an event hosted by the Las Vegas Review-Journal. “These people, who hold themselves out to be patriots, are not. They’re nothing more than domestic…
“My assessment is that 90% of the value of the US dollardollar comes from the US military.” — Former Assistant Housing Secretary Catherine Austin Fitts For decades, America has used its armed strength to enforce the use of the dollar as the world’s reserve currencycurrency, effectively making the US military the armed wing of the…
In his 1943 painting “Freedom of Speech,” Norman Rockwell illustrated American democracy in action by depicting a man speaking up at a town meeting. A framed poster of Rockwell’s painting hangs proudly on a wall in my Senate office in Burlington, Vt. Since 1990, when I was first elected to Congress, I have held hundreds…
I’m pleased to say that the topic of oligarch and corporate welfare finally seems to be getting the much needed attention it deserves. While billionaires like Sam Zell (read my open letter to him) continue to spout nonsense about how the poor just need to be more like the rich, objective folks are catching on…
Last week JPMorgan Chase paid $2.6 billion in fines and restitution, signed a deferred prosecution agreement and walked away from their 22-year involvement with Bernie Madoff’s Ponzi scheme. But according to court documents filed in 2011 by the Trustee of the Madoff victims’ fund, Irving Picard, this was not a simple case of poor risk management…
Most of us are aware that the government gives mountains of cash to powerful corporations in the form of tax breaks, grants, loans and subsidies–what some have called “corporate welfare.” However, little has been revealed about exactly how much money Washington is forking over to mega businesses. Until now. A new venture called Open the…
I recently proposed the idea that Wall Street now poses a strategic threat to national security and thus to the Deep State itself: Who Gets Thrown Under the Bus in the Next Financial Crisis? (March 3, 2014) Many consider it “impossible” that Wall Street could possibly lose its political grip on the nation’s throat, but I suggest…
Posted on December 11, 2013 by WashingtonsBlog Source: FinanceDegreeCenter.com Background here, here and here
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