How the race to develop treatments and a vaccine will create a historic windfall for the industry — and everyone else will pay the price… Read More Big Pharma’s Covid-19 Profiteers
With little mainstream media attention, four European academics recently published a report on how some of the largest Wall Street banks (all of whom received massive amounts of secret Federal Reserve bailout money during the 2007 to 2010 financial crash) are shamelessly gaming the system again… Read More Wall Street Banks Are Dangerously Evading U.S. Derivatives Rules by Making Trades at Foreign Subsidiaries
Dave Dayen’s new book “Monopolized” shows how Buffett has normalized monopoly power… Read More Warren Buffett: America’s Folksiest Predator
45 million people have been furloughed in Germany, the UK, France, Italy, and Spain, but the “unemployment” rate barely budged because furloughs don’t count. Creating government-subsidized zombie companies & zombie jobs?… Read More Bite the Bullet or Extend & Pretend? Unemployment in Europe
There is an urgent need for wide-ranging debt relief in the midst of the coronavirus pandemic… Read More A Global Debt Crisis Is Looming — How Can We Avoid It?
Last Friday, the New York Times officially embarked on what we have been expecting – an attempt to rewrite the current, ongoing Wall Street bank bailout.… Read More New York Times Rewrites the Timeline of the Fed’s Wall Street Bailouts, Giving Banks a Free Pass
The mushrooming transmutations of catch and kill today involve not just public relations flacks, high-priced lawyers, publishers, mainstream media and Hollywood studios. Increasingly, catch and kill includes the U.S. Department of Justice, making this version of catch and kill exponentially more dangerous to American democracy… Read More Catch and Kill: The Protection Racket Used by Trump, Weinstein, Epstein and Wall Street
The Fed’s Term Asset-Backed Securities Loan Facility, otherwise known as TALF, was supposed to help the consumer by keeping interest rates down on consumer loans. But it’s also being used to buy up commercial real estate mortgages on hotels, shopping malls and office buildings… Read More The Fed Rides to the Rescue of JPMorgan and Citi Again – This Time It’s Their Commercial Real Estate Mortgages
UK citizens appear to have come to accept that we live in a country with a Banana Republic system of capitalism… Read More Banana Republic Corruption
According to a database created by The International Consortium of Investigative Journalists containing files leaked from the law firm Appleby, Jeffrey Epstein, who is under indictment as a sex trafficker and assaulter of underage girls, was the Chairman of Liquid Funding Ltd. from November 9, 2001 to at least March 19, 2007. The offshore business had been incorporated in Bermuda on October 19, 2000 and according to the Fitch ratings firm, it had $6.7 billion in outstanding liabilities in 2006.… Read More Jeffrey Epstein Chaired a $6.7 Billion Company that Documents Suggest May Have Received a Secret Federal Reserve Bailout
Private Jets vs. Pension Funds… Read More Is the End Coming for Private Equity?
Why it’s a problem that a central bank whose job it is to organize credit only has creditors in charge… Read More Every Federal Reserve Board Member Is A Multi-Millionaire