Tea Party Candidate Trying to Protect Republican Brand from Major TARP Villain

  I have no idea if Tim Donnelly has a chance of beating Jerry Brown or not. I don’t have much of an idea of how good a governor he would be. It is hard to imagine him being worse than Brown. My main worry is I don’t see why anyone would want the responsibility of trying to fix California. Financially, it looks like mission impossible. But the “mainstream” Republican contender makes me sick at my stomach. Did everyone else know that Neel Kashkari identified himself Read more […]

Eric Holder, Enforcer for “Too Big to Jail” Banks

Meet the man whose job it is to protect the biggest criminals in the world. In a 1999 memo entitled “Bringing Criminal Charges Against Corporations,” written when he was deputy U.S. attorney general, Eric Holder argued that government officials could take into account “collateral consequences” when prosecuting corporate crimes. That memo has resurfaced at a time when Holder, now U.S. attorney general, faces increasing criticism for the Department of Justice’s reluctance to bring Read more […]

A Snapshot of the Gamblers Using Us as Collateral

The bankruptcy of the Central Bank created system in one snapshot. The top four banks in this chart are all zombies—dead men banking, feeding off the living—but Goldman Sachs takes the prize for having nearly $50-trillion in market bets on the table based on little more than $100-billion in assets (0.2%, if you’re keeping score). Wouldn’t you like to have that much leverage at the betting tables in Vegas, knowing that if you win, you win massively, and if you lose… well… all of Read more […]

Banks Demonstrate They Are Our Government

I am shocked. Shocked, I tell you. From Australian ABC News: “Billions in hidden subsidies going to too-big-to-fail banks.” As the first round of submissions to the Federal Government’s Financial Systems Inquiry closed this week there was a timely reminder that the fundamental cause of the global financial crisis is still deeply embedded in the banking system. The world’s wealthiest and most powerful banks still operate behind the shield of being “too-big-to-fail” (TBTF), an issue that former Read more […]