Sadly most of the public was buying that “hook, line, and sinker”!
The public swallowed the official excuse hook, line, and sinker.
Max continues his interview with Chris Powell of GATA about negative GOFO rates in the gold market.
Both Citigroup and JPMorgan have paid billions of dollars to settle fraud charges by regulators.
Both are also under investigation by the U.S. Justice Department. In addition, both banks hold life insurance on many of their employees. When an employee dies, the death benefit is paid to the corporation tax free.
The practice is called Bank-Owned Life Insurance (BOLI).
Just four of Wall Street’s largest banks (JPMorgan, Bank of America, Wells Fargo and Citigroup) hold a total of $68.1 billion in Bank-Owned Life Insurance assets according to their regulatory filings.
Was this another targeted murder in an otherwise sleepy neighborhood, and if so, what was the motivation to take out a mother of two and active member of the local community? The police investigation is ongoing.
What will the economy look like to the man on the street when the economy finally takes a fall? Celente predicts, “It’s going to be inflation, but it’s going to be currency devaluation rather than commodity inflation, for example: oil. We see oil prices coming down. As the currency becomes devalued, it will cost you more to buy that commodity because they just continue to print more money and put it into the global system. It’s not only the United States, look what’s going on in China. There are estimates that there are 70 million luxury apartments they can’t sell in China. You read the data, and you see the government is boosting the economy.”
Well, one issue I had is that although I warned not to securitize the loans, there was no way—I was blocked off, especially after I had raised complaints, from being able to see any of the data or the diligence process, which right there shows that something was wrong. So, after I left JPMorgan, I actually had no idea, for a full four years, that the loans had been securitized.
Incredulously:
They said Talley died from seven or eight self-inflicted wounds from a nail gun fired into his torso and head
“The political commitment to really root out corruption seems to be missing” -Cecilia Malmstroem EU Home Affairs Commissioner
“The Obama administration’s continuation of the Bush administration’s refusal to prosecute the elite banksters (or even the vastly lower status CEOs of the fraudulent mortgage bank) that drove the crisis has made it clear that the rule of law no…