WHAT ARE NATION States?
Have a closer look into State Farms:
Slave Farms has borders, flagstaffs, livestock, chattel, and human resource.
Propaganda, patriotism, and false statistics…
Religion, Government, and Corporate Governance to manage the flock/Human Resource.
We discuss the good news from China where a worm has been successfully removed from a man’s brain; thus giving us hope at removing the 6 foot long financial tapeworms which have sucked the nutrients out of the global financial system leaving behind a malnourished Zero Interest Rate Policy (ZIRP) world in which wages fail to keep up with inflation and new workers are put on ‘zero hour’ contracts. In the second half, Max talks to journalist, author and filmmaker, Greg Palast of GregPalast.com, about Goldman Sachs and John Paulson and about Obama intervening in the case of vulture capitalist Paul Singer versus Argentina only in order to help out Jamie Dimon and JP Morgan.
has sued 12 banks for allegedly restricting competition in the $25tn credit default swap market after the European Union charged the lender for blocking exchange access to the contracts.
As the latest in a string of lawsuits, MF Global filed the complaint in the US District Court in the Northern District of Illinois, against 12 international lenders and two other financial firms.
The banks named in the complaint are Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, The Royal Bank of Scotland, and UBS.
Markit, the main CDS price provider and owner of the benchmark CDS indexes, and trade group the International Swaps and Derivatives Association (ISDA), which owns documentation and other licenses, are also named in the suit.
CDS’ are contracts that are used to protect against losses if a borrower defaults or to speculate on a company or country’s credit quality.
MF Global is accusing the banks, Markit and Isda of operating a cartel that denied market participants real-time price information and prevented new investors from entering the market.
Elsewhere, Ohio-based pension fund, the Sheet Metal Workers Local 33 Cleveland District Pension Plan, and a group of Danish pension funds have filed similar lawsuits in the same court.
All the banks and financial data companies either declined to comment or were not immediately available for contact.
Regulators Charge Banks and Financials
MF Global’s lawsuit comes one month after EU regulators charged 13 banks and two financial data companies with breaching EU antitrust rules after saying the institutions blocked rival exchanges in the credit derivatives business between 2006 and 2009.
The European Commission (EC) said in a charge sheet, also known as a statement of objections, that the companies had participated in anti-competitive activities. The claim that they were involved in a cartel followed a two-year investigation.
“The commission takes the preliminary view that the banks acted collectively to shut out exchanges from the market because they feared that exchange trading would have reduced their revenues from acting as intermediaries in the over-the-counter (OTC) market,” said the EU competition authority.
BELIEFS AND FAITH in government and money are new religions
Why We Should Question All Beliefs!