Posts tagged Wall Street
Posts tagged Wall Street
The New York Times, "Paid via Card, Workers Feel Sting of Fees" | June 30, 2013
Colleges are doing this as well with financial aid and veteran’s benefits refunds. I wasn’t taxed by the U.S. government on my education benefits, but Higher One sure took a chunk with all their fees.
Matt Taibbi, “Goldman Non-Prosecution: AG Eric Holder Has No Balls’
Taibbi has consistently hammered the Obama administration on their non-action regarding Wall Street when other liberal writers have been content to look the other way, or worse, think history suddenly stopped on January 20, 2009. History did not stop, nor did the effects cease from the massive fraud perpetuated by Wall Street.
Read Griftopia. And think about this: In 2008, Wall Street gave Barack Obama the most contributions of any other candidate. This year, they’re investing in Mitt Romney and the GOP by ratio of nearly 3:1 thus far. They know which side their bread is buttered on — it’s both. But the GOP side looks especially buttery in 2012.
More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse, according to Government Accountability Office records made public for the first time today by Sen. Bernie Sanders (I-Vt.)
On the eve of Senate testimony by JPMorgan Chase CEO Jamie Dimon, Sanders released the detailed findings on Dimon and other Fed board members whose banks and businesses benefited from Fed actions.
A Sanders provision in the Dodd-Frank Wall Street Reform Act required the Government Accountability Office to investigate potential conflicts of interest. The Oct. 19, 2011 report by the non-partisan investigative arm of Congress laid out the findings, but did not name names. Sanders today released the names.
Trust me, it’s infuriating. Sanders is a true champion for Wall St. reform.
Mitt Romney, on Wednesday’s Today Show, discussing criticism of Wall Street and the rich. In other words, “Hey, poor people. Y’all are just jealous.”
Funny that. A Pew Poll released yesterday shows nearly two-thirds of the public (66%) believes there are “very strong” or “strong” conflicts between the rich and the poor—an increase of 19 percentage points since 2009. Also, participants identified the conflict between rich and poor as the largest, strong source of conflict in society:
If Romney is to be believed, at least two-thirds of Americans are just jealous.
Brass ones. And not in a good way:
For many years, insurance behemoth AIG was so poorly managed that the American taxpayer eventually had to invest nearly $70 billion in the incompetently run company to prevent its collapse from taking the entire U.S. economy along with it. Former AIG CEO Maurice Greenberg, however, thinks that the American people haven’t done enough to protect his massive fortune, so his company filed a lawsuit demanding even more taxpayer money.
For reals. He’s suing on the basis that when the government seizes or takes over property (aside from property used in illegal activity, i.e. RICO seizures) the government must provide ‘just compensation’ - typically, fair market value. ThinkProgress points out that when we bailed out AIG, the fair market value was nearly nil.
Now, let’s say AIG’s assets were involved in illegal activity. Just kidding! Quite a bit of what companies like AIG did was legal - or borderline legal. Deregulation doesn’t make tanking the market illegal - it makes it a near certainty.
Is it a radical statement to say the president should have issued this statement long-ago in regards to Occupy Wall Street? Because he hasn’t. I’d like to take this moment to point out how much Wall St. gave Barack Obama in 2008…
Here’s the top two recipients of donations from the financial/securities and investment sector since 2012:
As far as Wall Street, Obama’s already received over a third of what they donated in 2008 for the entire cycle. Though we can see who Wall Street’s favorite is for the GOP side. I don’t think it’s possible to deny the influence of corporate Wall Street dollars in our elections.
Let’s take Goldman Sachs as an example. Here’s their break down for 2012: They’ve donated a total of $1,858,958 thus far, $508,609 to Democrats and $1,350,349 to Republicans, for a 27%/73% split.
Compare to 2008. By the end of the election cycle, Goldman Sachs donated $6,025,681. Of that, $4,489,893 went to Democrats, and $1,525,448 went to Republicans for a 75%/25% split.
This is why I laugh nearly uncontrollably when I hear Fox News talking about Obama’s occupiers. He’s not on our side, guys.
Essentially, we’re supposed to support democratic movements elsewhere, not here at home. God forbid you actually participate.
Henry Rollins, "Occupy America"
Click to read the whole thing. Enjoy.
I hope this guy parks himself in front of a few politician’s offices. You know the ones - they invoke God until you get to the stuff about caring for the poor.
Bill Maher’s take on the Occupy Wall Street protesters. Well done.
Rebloggable by request:
Hey, I’m getting conservative skeptics ask for proof of nypd being paid off by banks. I found an article on JP Morgan paying them off. Is that the only incidence, or do you happen to know more?
Meg of Cognitive Dissonance
There’s plenty out there on this - it’s not a new thing. They’re called the “Paid Detail Unit” and it was originally to let cops work as security guards for bars and clubs.
Mayor likely unable to block bill on off-duty cops for bars: From 2004 about the “Paid Detail Unit”
If they have questions, I’ve got answers. Probably.
Mother Jones breaks down where the money from the bailouts actually went and how big it actually was, as compared to what we’ve heard. All funds are in billions…
The price tag for the Wall Street bailout is often put at $700 billion —the size of the Troubled Assets Relief Program. But TARP is just the tip of the iceberg of money paid out or set aside by the Treasury Department and Federal Reserve. In her book, It Takes a Pillage: Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street, Nomi Prins uncovers the hush-hush programs and crunches the hidden numbers to calculate the shocking actual size of the bailout: $14.4 trillion and counting.
(Figures current as of October 31, 2009. Click here for an explanation of the abbreviations and programs.)
Photoset from today’s Occupy Casper rally at Pioneer Park in Casper, Wyoming. Fun fact: It’s across from the Dick Cheney Federal Building.
An Open Letter to Wall Street, by William Rivers Pitt on Truthout
Read the whole letter here. This is the one of the best summaries of the Occupy Wall Street protests I’ve seen.