November 19, 2012

The story, as Maude would say, is ludicrous: we bailed out the mega banks to prevent an even bigger depression than the one that ensued; we bailed out the mega banks so companies could make payroll; we bailed them out so our ATM machines would keep working; to stave off attacks by giant lizards.

No one has ever produced a shred of evidence to support any of these assertions.

November 14, 2012

Image by WilliamBanzai7

The Republican majority on the Committee on House Financial Services is set to demonstrate its role as another collection of government puppets in the service of Wall Street when it releases its report on Jon Corzine’s role in causing MF Global to collapse a year ago.

November 6, 2012


William Cohan of Bloomberg wrote a curious story last week: “Why does the SEC Protect Banks’ Dirty Secrets?”

It’s a good question, and it gets better the more you learn about the mortgage-backed securities of Citigroup, the subject of Cohan's piece and the most insolvent bank ever to foul the earth.

November 4, 2012

Image by WilliamBanzai7

In two days, the Wall Street-controlled farce known as the U.S. presidential election will be underway. Voters have two major parties to choose from. The first is the Bailout Party, and the second is also the Bailout Party.

October 30, 2012

Image by WilliamBanzai7

The Citigroup documents recently divulged pursuant to Freedom of Information Act (FOIA) requests and relating to the bank's knowledge that its mortgage-backed securities were defective illustrates the never-ending concealment of wrongdoing under the cover of bailouts.

By way of background, President Obama says the bankers who caused the financial crisis were immoral and greedy but did not necessarily do anything illegal.